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SNAP CERTIFICATION MANUAL – SECTION 4000 5B4600 Determining and Verifying Countable Resources 38B4670 Stocks

the most recent interest payment. The certificate itself will be acceptable only if it reflects the current amount in the account. The worker must verify accessibility to jointly owned certificates when questionable. Acceptable verification includes the certificate if it establishes the terms of the co-ownership or collateral contact with an attorney or lending institution if the contact establishes the terms of the co-ownership. Documentation must include: a. The kind of savings certificate; b. The terms of the certificate (i.e., when it will come to maturity); c. The owner or owners of the certificate; and d. The current amount of thecertificate. When establishing accessibility to jointly owned accounts, the worker must document: a. The terms of the co-ownership; b. Whether or not the terms of the co-ownership were considered questionable; and c. If co-ownership was considered questionable, how the terms were verified.

4670 Stocks SNAP Manual 07/01/01 The current per-share value multiplied by the total number of shares held by the household will be considered a countable resource. Anticipated sale costs like broker’s fees are not deductible. To determine the current per-share value of stocks, the county office worker may refer to the stock exchange report in the current daily newspaper. For stocks not listed in the newspaper, the worker may obtain the information from an internet site, may contact a stockbroker, local financial institution, or the company that issued the stock. Acceptable verification of the number of stocks held includes the stock certificates or collateral contact with the broker, local financial institution or the company issuing the stock. The contact must verify the name of the stock and the number of shares held by the household. Acceptable verification of per-share amount includes an original or copy of the most recent stock exchange report from a daily newspaper or documentation of the contact with a stockbroker, financial institution, or the company that issued the stock. If the value of the stock was verified via the internet, the internet page must be printed and filed in the case record as documentation.