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HUD RELEASES RESIDUAL RECEIPTS GUIDANCE

Friday, October 5, 2012 - 7:00AM

The U.S. Department of Housing and Urban Development (HUD) issued a Q&A document to clarify housing notice H 2012-14. H 2012-14 sets forth HUD’s policies and procedures for the use of “new regulation” residual receipts to offset housing assistance payments for projects subject to new regulation project-based Section 8 housing assistance payments contracts. The Q&A addresses questions submitted by Hub/Program Centers and industry participants. The Q&A covers 17 topics, including processing steps, Section 202 projects, retained balance, offset amount and financial statement accounting, among others.

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