Prospective Budgeting
Prospective budgeting is the process of computing a household's eligibility and benefit amount based on the income that is anticipated in the issuance month. T/F?
TRUE
What is the conversion for someone who gets paid every 2 weeks?
2.15
What is considered to be household income?
All earned and unearned income received by or expected to be received by members of the household.
A check stub or employer info. that shows accurate representation of what client earns and expects to earn.
Representative Income
What are the steps in calculating converted monthly income?
Add amount of all representative checks/number of checks X Frequency Conversion = CMI
Tips are not required to be provided by the client. T/F?
FALSE
Prospective budgeting is used during MA applications. T/F?
False, used during FA application.
Ana provided 2 rep. pay stubs
1- $200.00
2- $215.00
She is paid biweekly, what is her converted monthly income?
$446.13
The client has been receiving FA when they joined VISTA, are the VISTA payments exempt?
YES
A client must prove a full month's worth of pay stubs to verify income. T/F?
False
Amount: $315
Frequency: Weekly (4.3)
What is the total monthly converted income?
$1354.50
For self-employed, is transportation to and from work locations allowed as a work expense?
No
Only representative checks should be entered into CBMS. T/F?
False, representative AND non-representative should be entered into CBMS.
Check 1: Pay date 7/2 Gross amount: $500 Gross YTD:$2000
Check 2: Pay date 7/30 Gross amount: $450 Gross YTD: $3200
Calculate client's missing check for 7/16
$750.00
Client declares: $24,000 in self-employment annually as an LLC. $500 allowable monthly expense.
What is the monthly countable income for MA?
$24000/12mos= $2000 monthly
$2000 gross income- $500 monthly expense= $1500 monthly countable income.