Family Self-Sufficiency (FSS)-ANSWER KEY 2 FSS Calculations

ANSWER KEY 2 FSS Calculations

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The document outlines income, adjustments, and Total Tenant Payment (TTP) calculations for four families involved in housing assistance programs, along with reexaminations and escrow credit calculations related to the Family Self-Sufficiency (FSS) program.<br /><br />1. Hernandez Family: Single father David Hernandez with three children works as a security guard earning $13/hr initially, later increased to $17/hr. He receives child support, a seasonal bonus, and has some savings. After adjustments for dependents and childcare, his adjusted income and TTP were calculated. Upon promotion and raise, his income rose to $37,190 annually, increasing his TTP to $849 monthly. His escrow credit—earned from increased income due to employment—was calculated at $188.<br /><br />2. Smith Family: Jennifer and John Smith, with two children and a disabled spouse status, have incomes from John’s construction job, Jennifer’s social security disability, and self-employment. After deductions for disability, dependents, and medical expenses, the adjusted income is about $37,944 with a TTP of $949. Following a small increase in Jennifer’s disability income and partial use of savings, their escrow credit was zero due to no increase in earned income.<br /><br />3. Chinn Family: Emily Chinn, a single adult with a GED, works part-time with occasional bonus income and has a $10,000 CD earning interest. After being laid off, she receives unemployment benefits. Her adjusted income dropped from $18,400 to $11,200 with corresponding TTP changes. Her escrow credit is zero due to decreased earned income.<br /><br />4. White Family: India White, a student with four children, receives TANF, financial aid, and works part-time. Childcare costs partially covered by TANF affect deductions. Her adjusted income is about $7,947 during summer employment, with a TTP of $199. Due to an increase in earned income, her escrow credit is $127.<br /><br />Overall, the analyses demonstrate how income sources, deductions (for dependents, childcare, disability, medical expenses), and changes in employment status impact the families’ adjusted income, rent obligations (TTP), and their potential escrow savings in the FSS program. Escrow credits reward families for increased earned income which promotes self-sufficiency goals like homeownership and education.

Keywords

Income calculations

Total Tenant Payment

Family Self-Sufficiency program

Escrow credit

Housing assistance

Adjusted income

Employment income changes

Childcare deductions

Disability deductions

Rent obligations