Here are just a few quick reminders for affordable housing managers:
- When calculating income from employment, you are required to do all three (3) calculations on the Income Worksheet (Note: Idaho properties are permitted to do just the EV and YTD calculations). In almost all cases, you will reflect the highest of these calculations on the TIC.
- Use the 6-month AVERAGE balance for checking accounts.
- Use the CURRENT balance for all other accounts such as savings, money markets, CDs, etc.
- Any and all cash on hand listed on the questionnaire must be reflected on the TIC as an asset.
- Always use the GROSS amount for Social Security (before any deductions).
Should you have any questions, please feel free to contact the compliance team at the Site Employee Resource Center: 503.450.0230