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EXHIBIT ANNUAL INCOME INCLUSIONS ANNUAL INCOME INCLUSIONS DEFINED. UNDER HUD 24 CFR SECTION 5.609(8) ARE: • The gross amount (before any payroll deductions) of wages, salaries, overtime pay, commissions, fees, tips and bonuses, and any, other compensa- tion for personal services received by all eligible household members; • The net income from the operation of a business or profession; • Interest, dividends, and other net income of any kind from real or personal property; • The full amount of periodic amounts received from Social Security, annuities, insurance policies, retirement funds, pensions, disability or death benefits; • Payment in lieu of earnings, such as unemploy- ment and disability compensation, worker's compensation and severance pay; • Welfare or other need -based payments to families or individuals that are made under programs funded separately, or jointly by federal, state or local governments; • Periodic and determinable allowances, such as alimony and child support payments, and regular contributions or gifts received from organizations or from persons not residing in the dwelling; and, • All regular pay, special pay and allowances of a member of the Armed Forces. H ANNUAL INCOM E EXCLUSIONS THE MOST COMMON TYPES OF EXCLUDED ANNUAL INCOME: • Income from employment of children (including foster children) under the age of 18 years; • Payments received for the care of foster children or adults; • Lump -sum additions to family assets, like inheritances or insurance payments; • Reimbursement for the cost of medical expenses for any family member; • Income of a live-in aid; • The full amount of student financial assistance paid directly to the student or to the educational institution; • The special pay to a family member serving in the Armed Forces who is exposed to hostile fire; • Income from HUD training programs; • Temporary, nonrecurring or sporadic income (including gifts); • Reparation payments paid by a foreign govern- ment to persons who were persecuted during the Nazi era; • Income from earnings in excess of $480 for each full-time student 18 years or older (excluding the head of household and spouse); • Adoption assistance payments in excess of $480 per adopted child; • Deferred payments received in a lump sum from SS or SSI; • Refunds or rebates for property taxes paid on the dwelling unit; or • Services/equipment needed to keep a develop- mentally disabled family member at home. FHC/FHFC Revised June 2005 PROGRAM ADMINISTRATION ■ Page 17