FAA4.K Expenses and Payment Standard (EXNS EXPC) : 05 Expenses of NA Participants - Overview
Expenses of NA Participants - Overview
NA budgetary units are allowed certain deductions from countable income. Deductions are only allowed when expenses are incurred by a budgetary unit. Expenses that result in a deduction from income must be reported and verified by the budgetary unit or its representative.
Deductions from income are calculated by AZTECS based on the expenses keyed on EXNS. Key the allowable expense when any of the following applies:
The participant is billed for the allowable expense. It does not matter when the budgetary unit actually pays the expense.
The allowable expense is billed in someone else's name, but the budgetary unit is responsible for paying the expense.
The allowable expense is paid by a third party as a loan that must be repaid. (See Loans - Unearned Income)
Do not key any portion of an expense that is paid by any of the following:
Rental Discount
Policy and procedures regarding expenses of NA participants are outlined as follows: