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Lionel Because Lionel is a full-time student and is not the head of household or spouse, only <br />the first $480 of his earnings count toward the family income. <br />Exhibit 3.5 -- Calculating Part 5 Annual Income — Exercise <br />=Famllj Members : Position.1n <br />`...� .. Famlty <br />-136che-Deverou -Head <br />A90. income Sources <br />55' <br />Rtase.'Nylen '-:4, -.friend: - 58 <br />Dorothy Spomac , Friend <br />61 <br />Works 6 hourstnight, 4 nights/week at $5.00/hour <br />as a waitress; also eams an average of j <br />$551night in tips. <br />""Eams $6.50/hour as a full-time aide in a hospital; I <br />employer reports that her wages will increase to <br />$6.75/hour, 7 weeks from the effective date of <br />this calculation. <br />Earns $60/day as a substitute teacher, and <br />works an average of 3 days/week for the 40 <br />weeks school is in session (she made $7,200 <br />last year); also receives $40/month in Food I <br />Stamps. <br />Under the HOME Program, the Income Limit for a household of 3 is $38,500. Assuming that <br />these are the only sources of income, does the household qualify for assistance? <br />Complete the following table to calculate annual income (as defined in 24 CFR Part 5) for the <br />household. Answers are found on the following page. <br />ANTICIPATED ANNUAL INCOME <br />Family a. Wages/ <br />Member Salaries <br />b. Benefits/ c. Public <br />Pensions Assistance <br />d. Other <br />Income <br />e. Asset <br />Income <br />Blanche I <br />I <br />Enter the <br />greater of <br />lines 4 or 5 <br />from above <br />in e. I <br />Rose <br />I I I <br />Dorothy <br />I <br />I I I <br />I I <br />I <br />I I <br />I I <br />6. Totals I <br />a. I b. <br />I C. I d. I <br />e. N/A <br />7 Enter total of items from 6a. through 6e. This is Annual Income ................. <br />7. <br />Technical Guide for Determining Income and Allowances for the HOME Program — 19 <br />