FAA4.I Earned Income (EAIN EAIC) : 06 Budgeting Income - Overview : F Budgeting Contract Income - Overview : .02 Budgeting Contract Income - Received for a Specified Period of Time
.02 Budgeting Contract Income - Received for a Specified Period of Time
 
(07/01/13 – 10/31/13)
Prorate contract income over the specified period of time it is intended to cover when both of the following apply:
 
The contract income does not represent the participant’s annual income.
The participant is not paid on an hourly or piece work basis.
 
For CA and NA, key the following on EAIC:
 
The OA or OF Earned Income Code in the INC TYPE field.
The MO Frequency code in the FREQ field.
The number of months the contract is intended to cover in the NUMBER OF PERIODS field.
The gross income specified in the contract in the GROSS AMOUNT field.
 
WARNING
Prorate contract income over a 12-month period when it is intended for the participant’s annual income. This includes contracts that cover a period of time less than 12 months. (See Prorated Over a 12-Month Period)
 
 
Documentation must support the contract income budgeted.