Application For Student Transportation Reimbursement (Page 2 of 2) in pdf

Page 2

E X P L A N A T I O N O F I N C O M E

GROSS INCOME: Gross income means “money earned before deductions for income taxes, employee’s social

security taxes, insurance premiums, bonds, charitable contributions, etc.

TO DETERMINE CURRENT GROSS MONTHLY INCOME:

If you are paid every week, multiply the total gross weekly pay by 4.3.

If you are paid every two weeks, multiply the total gross pay by 2.15.

If you are paid once a month, use the total gross amount.

If you are paid only every three months, divide the gross pay by 3.

If you are paid only every 6 months, divide the gross pay by 6.

If you are paid once a year, divide the total gross pay by 12.

INCOME ITEMS INCLUDE THE FOLLOWING:

1. wages, salary, commissions, fees, tips

2. net income from self-employed farmers and self-employed business persons (see below)

3. Minnesota Family Investment Program (MFIP), unemployment compensation

4. alimony, child support

5. retirement, pension, social security, veteran’s benefits, government civilian employee, or military

retirement or pensions, veteran’s payments, private pensions or annuities

6. dividends or interest on savings or bonds, income from estates or trusts, or net rental income, regular

contributions from persons not living in the household, net royalties and other cash income. Other cash

income would include cash amounts received or withdrawn from any source including savings,

investments, trust accounts, and other resources which would be available to pay the student’s

transportation costs.

FARMER OR SELF-EMPLOYED:

Monthly income is gross farm or business income received in the month prior to application minus farm or

business expenses. Wages from other jobs or income from other sources must be listed at the gross amount.

FARMER, SELF-EMPLOYED, OR SEASONAL WORKER:

If you or a member of your household received higher or lower than usual income last month, please list the

expected average monthly income. Self-employed persons may use last year’s income as a base to project their

current year’s net income, unless their current monthly income provides a more accurate measure.

FOSTER CHILD:

For a foster child who lives with the household but is the legal responsibility of the Department of Human Services

or court, only include “personal use income.” “Personal use income” is those funds specifically designated for the

personal use of the child, such as for clothing, fees and allowances. Do not include funds for shelter, general

care, medical expenses, etc. Also, do not include the income of the foster family.

Application For Student Transportation Reimbursement Page 2