PM 07-04-09-a: Income Mixed with an Asset

WAG 07-04-09-a

Income received and deposited in a bank account is income for the month of receipt and not an asset for that month. The portion of the income remaining in the bank account becomes an asset beginning with the following fiscal month.

Note: The assets of a categorically eligible SNAP household are exempt (see PM 05-07-00), unless the household receives substantial lottery or gambling winnings as a cash prize of more than $4,250. See PM 07-04-21.