FAA6.N Examples : 25 Earned Income (EAIN/EAIC) Examples : W Budgeting Contract Example 3
Budgeting Contract Example 3
 
Chester signed a contract covering the school year, August 7 to May 24, as a bus driver. The contract states that Chester is paid $15.00 per hour or $15,500.00. Chester is paid bi-weekly and provided the following pay stubs:
 
Date
Rate
Hours
Gross
09/02
15.00
60
900.00
09/16
15.00
70
1050.00
09/30
15.00
64
960.00
 
Application date:
09/30
Interview date:
09/30
30 day period
08/31 – 09/29
 
At the interview, Chester states that he is paid only for the number of hours he works. He is scheduled to work 30-40 hours per week and only paid on the number of hours he worked. Collateral contact with the employer confirmed Chester’s statement. The employer also verified that Chester is not guaranteed to receive the full salary amount listed in the contract. Chester is not paid during the summer months.
 
Project the income using the appropriate income period and the conversion factor based on the verification provided and the information obtained from the employer.
 
Key the following on EAIC for the month of September and ongoing:
 
INC TYPE: WA
FREQ: BW
NUMBER OF PERIODS:
PERIOD
DATE PAID
HOURS
HR. RATE
GROSS AMOUNT
01
09/02
60
 
900.00
02
09/16
70
 
1050.00
03
09/30
64
 
960.00
 
●Document the method used to determine a monthly amount in the DOC field and press ENTER.
 
AZTECS multiplies the average bi‑weekly gross income, $970, by 2.15. The monthly amount is $2,085.50.