T Budgeting Support Example 7

FAA6.N Examples : 24 Unearned Income (UNIN/UNIC ) Examples : T Budgeting Support Example 7

Budgeting Support Example 7

The PI submits an application and is interviewed in March. The PI states child support is normally received monthly and the amount varies from $436-$490.00. The client also states that she receives high checks 2 months out of the year. Review and average the amounts received in the last 12 months for an accurate reflection of an ongoing amount. Add the support income amounts in the months received. Divide the most recent 12 months support income total by the 12 months used in the budget.

Months	Support Income
February	$436
January	$489
December	$490
November	$436
October	$640
September	$436
August	$620
July	$480
June	$490
May	$438
April	$436
March	$445
Annual Income	$5,836
Total divided by 12	$486.33 per month

Key the resulting figure as follows:

●Key MO in the FREQ field on UNIC

●Key $486.33 in the GROSS AMOUNT field on UNIC

Key the appropriate Unearned Income Code in the INC TYP field on UNIC.