M Contract Income Example (STA)
 
Margaret is a contracted school employee, paid biweekly for the nine months of the school year, based on a nine month contract.
 
Margaret applies and is interviewed on 8/17. She provides verification of her income.
 
For AUGUST, use the actual known income received and the anticipated income for the remainder of the month. Anticipate the income based on the verification provided.
 
Date Paid
Hours
Gross Amount
08/03
14.5
$145
08/17
20
$200
 
Convert the income using the biweekly conversion factor.
 
For September and ongoing benefit months, project the income at $200 every two weeks because it is anticipated and verified as ongoing.
 
Date Paid
Hours
Gross Amount
08/17
20
$200
 
Convert the income. Key the amount on STAA.