FAA4.K Expenses and Need Standard (EXNS EXPC) : 10 Expenses Exceed Income (EEI) - Overview
10 Expenses Exceed Income (EEI) - Overview
(07/01/08 – 09/30/08)
Expenses Exceed Income (EEI) situations exist when a budgetary unit reports expenses that are more than both of the following:
The budgetary unit’s reported gross income.
The budgetary unit’s available resources.
Participants whose living expenses exceed their income must provide proof of how they are meeting their expenses.
Verification of how expenses are being met includes, but is not limited to, any of the following:
Receipts that show UNPAID expenses.
Additional source of income.
Bank statements indicating sufficient resources are available and have been used to meet living expenses.
Policy and procedures regarding when EEI must be verified are outlined as follows: