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Child Care Assistance Program Policy Manual Issued 07/2023 Calculating countable assets 4.12.6 Some assets are counted toward the $1 million asset limit and some assets are not counted toward the $1 million asset limit. Count the value of the following assets toward countable assets. Cash The value of all cash held by all CCAP family members is counted toward the $1 million asset limit. Bank accounts The value of bank accounts held by all CCAP family members is counted toward the $1 million asset limit. Bank accounts include: • Checking accounts • Savings accounts • Money market accounts • Debit cards* • Matured certificates of deposit** • Business accounts used to pay expenses not related to the business. *A debit card is a bank card issued by a financial institution that accepts direct deposits, has a dollar value and allows the card owner to make an electronic purchase or withdraw cash. This includes cards provided by a bank as a service for customers who cannot open checking or other types of deposit accounts. **A matured certificate of deposit means a certificate of deposit (CD) due for payment to the CD owner. The maturity date determines when the owner is eligible to access the funds with no withdrawal penalty. Stocks, bonds, pensions, and retirement accounts The value of stocks, bonds, pensions, and retirement accounts and any business accountes used to pay expenses not related to the business held by all CCAP family members is counted toward the $1 million asset limit unless there is a penalty for early withdrawal. Financial penalties include: any reduction in an investment’s value or benefit if accessed early, surrender charges, penalties for early withdrawal, revocation of bonuses or one-time payments, higher fees, or reduced interest guarantees. Vehicles One vehicle per family member who is age 16 or older is not counted toward countable assets. The value of all other vehicles owned by a member of the CCAP family is counted toward the $1 million asset limit. Vehicles are defined as a car, truck, van, camper, motorcycle or trailer. A mobile home or manufactured home intended for permanent occupancy is NOT a vehicle.