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Chapter: 1600 Assets Program: TCA 23 1620.0518 Cash (TCA) Cash includes money the individual owns no matter where it is located. 1620.0519 Verification of Cash (TCA) The individual must provide information on the amount of cash they have on hand. While an individual's statement of actual cash on hand is accepted without verification, the individual must be made aware that cash on hand includes amounts in the individual's personal possession; amounts the individual may have at home; and amounts being held for the individual elsewhere. 1620.0520 Lump Sum Payments (TCA) A lump sum payment is considered an asset in the month of receipt and is excluded as income unless the lump sum payment meets an exception below. Lump sum payments are defined as money (unearned) received in the form of a non-recurring lump sum payment including, but not limited to: income tax returns, rebates or credits; retroactive lump sum Social Security, SSI, Earned Income Tax Credit, Child Tax Credit, public assistance, railroad retirement benefits, or other payments; lump sum insurance settlements; or refunds of security deposits on rental property or utilities.

Exception: Federal income tax returns, including refundable tax credits (EITC and Child Tax Credit) and over-withholding (tax refunds) are excluded as income and assets in the month of receipt and will continue to be excluded as an asset for 12 months from the date of receipt.

If the lump sum payment is earned income, such as a bonus or commission, a lump sum for annual leave etc., it must be counted as earned income in the month of receipt. Any earned income left over after the month of receipt will be considered an asset. 1620.0522 Money from Excluded Asset (TCA) Money received from an excluded income and asset source that is deposited in a savings account is excluded.

If the balance in the account is not identifiable as coming from the excluded source, the balance (minus any new deposits from excluded sources) counts as an asset the next month. 1620.0524 Crops and Livestock for Home Use (TCA) Any crops or livestock grown or retained solely for the SFU’s own use are excluded. 1620.0525 Verification (TCA) The individual’s statement as to the disposition of crops and livestock can be accepted unless it is inconsistent with other information on the individual’s financial status. If there are inconsistencies or questions, the local county agricultural agent can assist in determining whether the individual is engaged in farming as a business enterprise. 1620.0526 Disaster Assistance (TCA) Permanently exclude:

1. payments, including disaster unemployment assistance, received under the Disaster Relief Act of 1974 (P.L 93-288, Section 312(d)), as amended by the Disaster Relief and Emergency Assistance Amendments of 1988 (P.L. 100-707, Section 105(i)) from assets. 2. National Flood Insurance Program (NFIP) payments made under the National Flood Insurance Act of 1968, as amended by Public Law 109-64, enacted on September 20, 2005.

Exclude interest earned on disaster assistance payments from assets.