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EXHIBIT I <br />Chapter Three - Calculating Annual (Gross) Income <br />Exhibit 3.5 - Calculating Part 5 Annual Income - Exercise (continued) <br />ANSWERS <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 />Blanche $17,680 Enter the <br />Rose $13,980 greater of <br />Dorothy $7,200 lines 4 or 5 <br /> from above <br /> in e. <br />6. Totals a. $38,860 b. C. d. e. N/A <br />7. Enter total of items from 6a. through 6e. This is Annual Income ............................. 7. $38,860 <br />The household is not eligible for assistance. Its income exceeds the Low-Income Limit by $360. <br />Explanation <br />Blanche Blanche's income must include both wages and tips. (The tips are included as wage/salary <br />income.) Her wage income is $6,240 annually ($5.00/hour x 6 hours/night x 4 nights/week x <br />52 weeks/year) and her tip income is $11,440 annually ($55/night x 4 nights/week x 52 <br />weeks/year). <br />Rose Rose's wage income must be calculated in two steps. For the first 6 weeks of the year, she <br />earns $6.50/hour. Her income at this wage is $6.50/hour x 40 hourstweek x 6 weeks = <br />$1,560. For the next 46 weeks, her wage will be $6.75/hour. Her income at this wage is <br />$6.75/hour x 40 hours/week x 46 weeks = $12,420. <br />Dorothy Dorothy made $7,200 last year, and there is no reason to expect that she will work more or <br />less often in the coming year. Her income is, therefore, estimated at $7,200. Per the Income <br />Exclusions (see Exhibit 3.2), the income she receives from Food Stamps is excluded from <br />this calculation. <br />Technical Guide for Determining Income and Allowances for the HOME Program - 26