New York Codes, Rules and Regulations › Title 9 - EXECUTIVE DEPARTMENT › Subtitle S - Division of Housing and Community Renewal › Chapter III - Low Rent Housing › Subchapter C - Management Manual For Housing Authorities › Part 1627 - Occupancy › Subpart 1627-2 - Determination Of Eligibility For Admission Or Continued Occupancy Based On Income › Section 1627-2.6 - Determination of income

Current through Register Vol. 46, No. 28, July 10, 2024
(a)
						General. An object of income projection is to determine anticipated income for
						coming 12 months, current rate of pay per stated unit (i.e., hour, day, week,
						month) shall be multiplied by number of stated units in coming 12 months; this
						total shall be modified by any conditions which past experience indicates are
						likely to occur during 12 month projected period. Such projection will apply to
						both fixed and nonfixed income when possible. Under interim rent adjustment
						policy, projections for non-fixed income shall be reviewed quarterly with most
						recent quarter added while income of least recent quarter is dropped. Total of
						new four consecutive quarters is then projected as anticipated income for
						coming 12 months. Additional information on income projection is contained in
						following paragraphs.
(b) Fixed
						income.
(1) Annual salaries. Anticipated
						income will be projected on basis of annual salary as of date of income
						projection. Such projection will not include any expected raise or increment
						before it is actually received.
(2)
						Weekly, daily and hourly rate of pay. Anticipated income will be projected by
						determining the income for a current normal week and multiplying by the number
						of work weeks in the year. This number is usually 52 although it can be less as
						in the case of vacation without pay, yearly close down for model change over,
						etc.
(3) Overtime.
(i) Overtime which occurs on a regular basis,
						as evidenced by past experience or notation on employer's report of earnings,
						will be included in projecting anticipated income by multiplying weekly
						overtime earnings by 52.
(ii)
						Overtime which occurs irregularly or seasonally will not be included in
						projecting anticipated income unless prior annual income indicates that such
						overtime exceeds $200 per year in which case the amount in excess of $200 per
						year will be included in anticipated income.
(iii) In reviewing prior annual income, care
						should be taken to note overtime as it may not be separately stated. The
						reported gross earnings less computed straight time earnings will give tenants
						overtime earnings during stated period.
(iv) Income from secondary employment will be
						considered and treated as regular or irregular overtime depending on whether
						such secondary employment is regular or irregular. Sporadic secondary
						employment, i.e. of short duration and not likely to be repeated, will not be
						included in projecting anticipated income.
(4) Pay raises and increments.
(i) Under interim rent adjustment policy,
						expected pay raises and increments will not be included in anticipated income
						until effective date of such raise or increment. However, if raise or increment
						is granted retroactively, effective date will be first day of pay period
						reflecting retroactive pay increase.
(ii) Under noninterim rent adjustment policy,
						expected pay raises and increments will not be included in anticipated income.
						These pay raises and increments will be projected only at time of annual
						reexamination following date on which such increase was received and no
						retroactive charge will be levied against tenant.