HCV and Public Rent Calculation UPDATED ACTUAL Questions and CORRECT Answers

HCV and Public Rent Calculation UPDATED ACTUAL Questions and CORRECT
Answers

1. Annual Income Anticipated total gross income of all household members for 12 months follow-
ing certification or recertification, minus exclusions from income.

2. Adjusted Income Annual income, minus the HUD-allowed deductions

3. Total Tenant Pay- The total amount the HUD rent formula requires the tenant to pay towards rent.
ment

4. Tenant Rent Total tenant payment less utility allowance - the amount tenant pays towards
rent.

5. Monthly Adjusted Adjusted annual income divided by 12.
Income

6. Utility Allowance Estimate calculated from schedule of utility costs for utilities not included in rent
- an allowance for families toward payment of utilities.

7. Imputed Asset In- PHA passbook rate x total cash value of assets. Calculated when cash value of
come assets exceeds $5,000.

8. Elderly Family Head, spouse, cohead or sole member is 62 or older.

9. Disabled Family Head, spouse, cohead, or sole member is person with disabilities.

10. How do you com- period is used in
pute income that
you know will last
for a part of the
year (i.e., unem-
ployment)?

11. Income received
during which time

, Annualize it for average known
sources.




12 months following certification
or recertification.