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. Administrative Plan 7/1/2025 <br /> <br />Page 7-28 <br />PART III: VERIFYING INCOME AND ASSETS <br />Chapter 6, Part I of this plan describes in detail the types of income that are included and <br />excluded and how assets and income from assets are handled. Any assets and income reported by <br />the family must be verified. This part provides PHA policies that supplement the general <br />verification procedures specified in Part I of this chapter. <br />7-III.A. EARNED INCOME <br />Tips <br />SAHA Policy <br />Unless tip income is included in a family member’s W-2 by the employer, persons who <br />work in industries where tips are standard will be required to sign a certified estimate of <br />tips received for the previous two pay periods and tips anticipated to be received in the <br />coming year. <br />Wages <br />SAHA Policy <br />For wages other than tips, the family must provide originals for the past three months of <br />consecutive pay stubs for initial eligibility and two most recent consecutive pay stubs for <br />reexaminations. SAHA may request additional verification as needed. <br />7-III.B. BUSINESS AND SELF EMPLOYMENT INCOME <br />SAHA Policy <br />Business owners and self-employed persons will be required to provide: <br /> A statement of income and expenses must be submitted and the business owner or <br />self-employed person must certify to its accuracy. <br /> All schedules completed for filing federal and local taxes in the preceding year. <br /> If accelerated depreciation was used on the tax return or financial statement, an <br />accountant's calculation of depreciation expense, computed using straight-line <br />depreciation rules. <br /> SAHA will provide a format for any person who is unable to provide such a <br />statement to record income and expenses for the coming year. The business <br />owner/self-employed person will be required to submit the information requested <br />and to certify to its accuracy at all future reexaminations. <br /> At any reexamination, SAHA may request documents that support submitted <br />financial statements such as manifests, appointment books, cash books, or bank <br />statements. <br /> If the family member has been self-employed for three (3) to twelve (12) months <br />SAHA will require the family to provide documentation of income and expenses <br />for this period and use that information to project income. <br />EXHIBIT 1