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West Virginia Income Maintenance Manual Chapter 5

West Virginia Income Maintenance Manual Page 31 Chapter 5 Assets

excluded, if the individual's equity in the property does not exceed $6,000. The amount of equity in excess of $6,000 is counted toward the asset limit. Necessary for Self-Support Example: Mr. Crocus owns a small unimproved lot several blocks from his home. He uses the lot, which is valued at $4,800, to grow vegetables and fruit, only for his own consumption. Because his equity in the property is less than $6,000, the property is excluded as necessary to self- support. 5.5.8 CASH ON HAND CASH SAVINGS This is a countable asset, except when any portion of it is the current month's income. Once the amount of cash, including cash benefits in an Electronic Benefits Transfer (EBT) account, the balance of unearned or earned income remaining on a pay card or debit card, savings, or cash benefits in an EBT account is determined, any remainder is an asset. SSI Medicaid Groups: Grants, scholarships, fellowships, gifts, or portions of gifts set aside to pay tuition and other necessary educational expenses are excluded for nine months following the month of receipt. Any portion of these funds used to pay expenses, other than those related to education, is counted as income in the month it is used to pay another expense. See Section 4.14.4.C. Liquid assets used in a trade or business are excluded as property essential to self-support. 5.5.9 COLLECTIONS Goods and personal effects of unusual value such as, but not limited to, expensive china, silver, artwork, antiques, or gun and coin collections. SNAP WVW, AFDC-Related SSI Groups Yes Yes Yes* SNAP WVW, AFDC-Related SSI Groups No Yes Yes NOTE: For SNAP, pre-paid credit and pre-paid debit cards are considered cash on hand.