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Chapter: 1600 Assets Program: TCA 24 Excluded funds must be identifiable. Encourage the individual to maintain a separate account for excluded funds if possible. When excluded funds are commingled in an account with other funds, assume non-excluded funds are withdrawn first.

Disaster assistance funds are not restricted to restoration of a home but are subject to legal sanction if misused.

Sources of verification of disaster assistance include official government notices, disaster loan or grant documents, and the individual’s financial records of deposits, withdrawals and expenditures. 1620.0529 Energy Assistance Payments (TCA) Payments or allowances made for energy assistance are excluded if they are authorized by federal, state, or local laws.

These payments or allowances must be clearly identified as energy assistance by the legislative body authorizing the program or providing the funds.

Examples of federal payments that would be excluded are energy assistance payments provided by programs such as: the Department of Health and Human Services’ Low-Income Energy Assistance Program, and the Community Services Administration’s Energy Crisis Assistance and Crisis Intervention Programs. 1620.0531 Business Inventory (TCA) Property/inventory related to a business (a farm operated for profit) is included as an asset. The net value of the business inventory is the current market value minus any indebtedness. Business inventory includes items such as equipment, machinery or livestock.

The individual must provide information on the:

1. ownership of each item; 2. type, make, model, and age of machinery; 3. kinds and number of livestock; and 4. amount of indebtedness on each item. 1620.0532 Verification (TCA) Sources of verification for farm business inventory include items such as:

1. inventory reports for equipment filed with the county tax assessor; 2. statements from reputable businesses knowing resale value of items; or 3. the county agricultural agent. 1620.0534 Home (TCA) Home property is excluded as an asset, regardless of its value, if it is the individual’s principal place of residence. Only one residence can be excluded under this provision.

A home is any shelter in which the individual has an ownership interest and that is used by the individual (and spouse, if any) as the principal place of residence. The home may be either real or personal property, fixed or mobile, and located on land or water. The home includes all the land that appertains to it and the buildings located on such land. Houses, cooperative and condominium apartments, mobile homes, motor homes, and houseboats are examples of shelters, which may qualify for exclusion.

Home ownership and property are discussed in passage 1620.0304, Ownership of Real Property.