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EXHIBIT I <br />Chapter Three - Calculating Annual (Gross) Income <br />Exhibit 3.4 - Calculating Part 5 Annual Income - Example <br />Family Members Position in Family Age Income Sources <br />George Jefferson Head 53 Works full-time at $7.25/hour; also receives <br /> $400/month from the government as a result of a <br /> settlement in the Agent Orange product liability <br /> litigation. <br />Eloise Jefferson Spouse 48 Works 18 hours/week at a bank at $7.50/hour; also <br /> receives $50/month from her mother to help with <br /> expenses. <br />Lionel Jefferson Son 19 Full-time student at City College where he has a <br /> part-time, 15-hour/week job in the student bookstore <br /> at $6.00/hour for the 46 weeks when classes are in <br /> session. <br />Under the HOME Program, the Income Limit for a family of three in the jurisdiction is $23,900. Are the <br />Jefferson's eligible for HOME assistance? Assume for this example that the Jefferson's have no <br />assets. <br />ANTICIPATED ANNUAL INCOME <br />Family <br />Members a. Wages/ <br />Salaries b. Benefits/ <br />Pensions c. Public <br />Assistance d. Other <br />Income e. Asset <br />Income <br />George $15,080 Enter the <br />Eloise $7,020 $600 greater of <br />Lionel $480 lines 4 or 5 <br /> from above <br /> in e. <br />6. Totals a. $22,580 b. C. d. $600 e. N/A <br />7. Enter total of items from 6a. through 6e. This is Annual Income ............................. 7. $23,180 <br />This family is eligible for assistance because its total income of $23,180 is below the Low-Income Limit. <br />Explanation <br />George George's earning from work count as income, but his income from the Agent Orange <br />Settlement Fund ($4,800/year) does not. Thus, George's income is $7.25/hour x 40 <br />hours/week x 52 weeks/year, or $15,080. <br />Eloise Eloise's income from wages of $7.50/hour x 18 hourstweek x 52 weeks, or $7,020. In <br />addition, her regular gift income of $50/month or $600/year counts as income. (The gift <br />income is counted as "other income.') <br />Lionel Because Lionel is a full-time student and is not the head of household or spouse, only the first <br />$480 of his earnings count toward the family income. <br />Technical Guide for Determining Income and Allowances for the HOME Program - 24