FAA4.I Earned Income (EAIN EAIC) : 06 Budgeting Earned Income - Overview : J Budgeting Income - Documentation Requirements
Budgeting Income - Documentation Requirements
(10/01/13 – 12/31/13)
Documentation must explain discrepancies and support the decision made. Include the following information when documenting income and budgeting:
Explanation of the income period used
Explanation of why the income period was used
Explanation why the income period was not used
Explanation of how the income was determined
Explanation of deductions such as earned Income tax credits (EITC), child support, etc.
Explanation of why the income in the application is higher or lower than the amount budgeted
Explanation, when applicable, of why the pay stubs in OnBase were not used
When hard copy verification is unavailable, the following information provided by a collateral contact must be documented:
Date of collateral contact
Name, title, and phone number of the person providing verification
Hourly wage
Hours worked
Pay period end date
Actual pay date
Frequency of pay
Date changes occurred or are expected to occur
Extra income, such as bonuses, tips, commissions and overtime
Date income started
Date income stopped