405 IAC 2-5-1 Conversion of income

Sec. 1. (a) When determining eligibility and the amount of assistance payment for the months beginning with the month of application, the following computations shall be made to establish income for the payment month: (1) Income received on a less than monthly basis shall be converted to a monthly amount as follows: (A) Income received weekly shall be multiplied by four and three-tenths (4.3) to determine the monthly income. (B) Income received every two (2) weeks shall be multiplied by two and fifteen-hundredths (2.15) to determine the monthly income. (C) Income received twice per month shall be multiplied by two (2) to determine the monthly income. (2) Income which is not expected to continue throughout the payment month shall be considered in the actual amount anticipated to be received in that month. (3) Income received on a contractual basis shall be prorated over the number of months covered under the contract, and the resultant amount shall be considered available monthly income. (4) Income received on a quarterly, semiannual, or annual basis shall be divided by the appropriate number of months to establish a monthly amount. (5) Income received to defray the cost of education shall be prorated over the period intended to be covered by the income. (6) Fluctuating income may be averaged to determine a monthly amount. (b) In determining eligibility for months prior to the month of application, the actual amount of income received shall be considered income.