B-8410 Financial Management
Revision 24-4; Effective Dec. 1, 2024
For redeterminations, explore financial management if there has been no activity in the person’s bank account other than interest credited since the last redetermination.
If a person does not report a bank account, trust fund or similar account on the application for assistance, ask the person or the authorized representative how the person’s financial affairs are handled. This includes who cashes the checks and where, who pays the bills and how, and who keeps the money and how the funds are kept.
If the person reveals past unreported liquid resources, determine the value, ownership and accessibility per the policy for the type of resource.
Acceptable verification sources for financial management include:
Statement from the recipient and the person who handles the recipient’s funds.
Statement from a knowledgeable third party, such as an administrator or bookkeeper in the facility that knows who receives the recipient’s benefit payments and pays the bills.
Information received through AVS.
Document the following information in the case record:
Where checks are cashed and how bills are paid.
Who handles the person’s checks, pays the person’s bills and maintains the person’s money.
How much money, if any, the person or anyone else keeps.
If any funds have accumulated.
Source of information.