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EXHIBIT I <br />Chapter Three - Calculating Annual (Gross) Income <br />Exhibit 3.5 - Calculating Part 5 Annual Income - Exercise <br />Family Members Position In Family Age Income Sources <br />Blanche Deverou Head 55 Works 6 hours/night, 4 nights/week at $5.00/hour as <br /> a waitress; also earns an average of $55/night in <br /> ti s. <br />Rose Nylen Friend 58 Earns $6.50/hour as a full-time aide in a hospital; <br /> employer reports that her wages will increase to <br /> $6.75/hour, 7 weeks from the effective date of this <br /> calculation. <br />Dorothy Spornac Friend 61 Earns $60/day as a substitute teacher, and works <br /> an average of 3 days/week for the 40 weeks school <br /> is in session (she made $7,200 last year); also <br /> receives $40/month in Food Stamps. <br />Under the HOME Program, the Income Limit for a household of three is $38,500. Assuming that these <br />are the only sources of income, does the household qualify for assistance? <br />Complete the following table to calculate annual income (as defined in 24 CFR Part 5) for the household. <br />Answers are found on the following page. <br />ANTICIPATED ANNUAL INCOME <br />Family <br />Members a. Wages/ <br />Salaries b. Benefits/ <br />Pensions c. Public <br />Assistance d. Other <br />Income e. Asset <br />Income <br />Blanche Enter the <br />Rose greater of <br />Dorothy lines 4 or 5 <br /> from above <br /> in e. <br />6. Totals a. b. c. d. e. N/A <br />7. Enter total of items from 6a. through 6e. This is Annual Income ............................. 7. <br />Technical Guide for Determining Income and Allowances for the HOME Program - 25