FAA4.I Earned Income (EAIN EAIC) : 06 Budgeting Income - Overview : A Projecting Income - Overview : .05 Projecting Income - Anticipated Changes in Rate of Pay
.05 Projecting Income - Anticipated Changes in Rate of Pay
 
(10/01/13 – 12/31/13)
When the participant’s income received from the last 30 days or longer is not normal due to a change in rate of pay and the number of hours worked does not fluctuate, complete the following:
 
Verify the change.
For the application month, budget the income received for the month and anticipate any changes in income when needed.
For ongoing months, anticipate the income using the verified changes.
 
Documentation must support the income budgeted.
 
When the participant’s income received from the last 30 days or longer is not normal due to a change in rate of pay and the number of hours worked normally fluctuates, complete the following
 
Total the number of hours in the income period used.
Divide the total hours by the number of pay periods the hours cover to obtain the average hours per pay period.
Drop the third number after the decimal point of the average hours per pay period.
Key the following on EAIC for the benefit month:
The appropriate Frequency Code.
The known gross income received.
The anticipated changes in income as follows:
The date of the first check expected in the budget month, with the new hourly rate, in the DATE PAID field.
The average of the hours worked per pay period in the HOURS field.
The new hourly rate of pay in the HR. RATE field.
Anticipate the income using the verified changes in income for ongoing months.
 
Documentation must support the income budgeted.
 
(See Example Change in Rate of Pay)