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in their entirety to each household, unless the assistance unit can demonstrate that the resources are inaccessible to them. See Resources to be Excluded, later in this chapter, for details. If the assistance unit can demonstrate that it has access to only a portion of the resource, only that portion of the resource shall be counted toward the resource limit. Livestock Livestock such as cattle, hogs, chickens and other fowl will be considered as resources at current market value. When the livestock are indebted, subtract the amount of the debt from the current market value. If the individual has purchased livestock recently, he should be able to show his bills of sale. If the individual has had the livestock for more than 12 months, he will need to establish their value by having them appraised by an individual qualified to do this. NOTE: An individual adds to his resource value when the livestock multiplies. See Resources to be Excluded, later in this chapter, for livestock for home consumption. Lump Sum Payments Money received in the form of a non-recurring lump sum payment, such as retroactive lump sum SSA, TANF or other payments, lump sum insurance settlements, vacation pay received in one

MISSISSIPPI [RESOURCES: RESOURCES TO BE INCLUDED]

Revised 05-01-06

payment, lottery winnings, refunds, etc., will be considered, unless specifically excluded as a resource ( i.e. SSI lump sums, income tax refunds, rebates or credits ). Any portion of the lump sum identified as payment for the current month must be counted as income. Mortgages, Notes and Deeds of Trust When an applicant or recipient states that another individual owes him a debt, it is necessary that the individual have written evidence of the debt in the form of a promissory note, deed of trust, mortgage, etc. Otherwise, the individual has no way of enforcing the payment of the obligation. Ask the individual to determine the current market value of these assets from local bankers or from banks where the individual ordinarily does business. The current market value is that amount which can be realized from immediate sale. The amount which the individual will receive is the current value less a discount for handling any risk involved. Consider excessive a discount rate of more than 10 percent, and do not consider the asset a resource, count the payments as income, including both principal and interest. Oil, Gas and Other Minerals The lease or sale of mineral rights is a depletion of the real property and the proceeds are a resource. The amount paid per acre for the lease is a resource. The company may or may not renew the lease at the end of the year. If the lease is renewed, the rental for the year is income. The lease or sale of mineral rights can be established from the deeds in the chancery clerk s office. If the deed does not give the amount of payment, the exact amount received must be verified from the lessee or purchaser.