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How does a PHA set up receivables for Section 8 (i.e., gain contingency)?

April 26, 2017Contingency gain PHA receivables section

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How does a PHA set up receivables for Section 8 (i.e., gain contingency)?

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A PHA should not set up a receivable for a gain contingency. It should be disclosed in the Notes to the Financial Statements under Commitments and Contingencies.