Page 91

TANF POLICY MANUAL

_____________________________________________________________________________________________ 91

Chapter 6 Resources

6.1 Resource Types Resources are cash or other assets that are owned by a person(s) and can usually be turned into cash. Resources are classified as either: A. Liquid B. Non-liquid

6.2 Resource Value The value of the benefit group's (BG's) total countable resources is used to determine if the resources are within the eligibility limits. Resources are counted unless specifically excluded by TANF policy, or determined to be inaccessible to the BG.

6.3 Equity Value Equity value is the current fair market or cash value of a resource, less any indebtedness, and is counted toward the resource limit.

6.4 Maximum Resource Limit The resource limit for TANF is $2,500 per BG.

6.5 Resources to Count Income and resources are considered available both when actually available and when the applicant or recipient has a legal interest in a liquidated sum and has the legal ability to make such sum available for support and maintenance.

Count the total value of resources owned by (See 3.1) (See 3.9): A. BG members (including Family Cap Child(ren)) B. Disqualified individuals 1. Ineligible non-citizen parents Chapter 6