Page 22
UPDATED: AUGUST 1999
120
INCOME EARNED
INCOME FROM ROOMERS (LODGERS) AND BOARDERS
Verification: (a) Seeing a statement from the roomer and/or boarder as to the amount and frequency of his/her payment;
(b)Seeing any business records that the A/R may have…#
(b) Seeing any business records that the A/R may have maintained; and/or
(c)Seeing records of actual expenses if greater than the…#
(c) Seeing records of actual expenses if greater than the categorical standard disregard;
Documentation: Sufficient to establish an audit trail:
(a) Name of the roomer or boarder, plus the amount and frequency of payment; and/or
(b) Copies of actual expense listing, if the costs are greater than categorical disregard.
(MRG)