10A NCAC 71W .0407     RESERVE

(a)  A Work First assistance unit shall be allowed to reserve resources at a maximum of three thousand dollars ($3,000). The assistance unit is ineligible if the reserve level exceeds this maximum.

(b)  Resources owned by the following budget unit members shall be counted for purposes of eligibility of Work First assistance:

(1)           Parent, adoptive parent, or stepparent unless the individual receives SSI;

(2)           If the child is included in the payment, the child's resources shall be counted; and

(3)           Jointly owned resources shall be counted for purposes of eligibility of Work First assistance as follows:

(A)          If a budget unit member owns resources jointly with another public assistance recipient, the budget unit member's share shall be counted as an available resource. The resource shall be divided equally among the owners unless the owners have a signed agreement specifying division;

(B)          If a budget unit member owns resources jointly with a non‑assistance recipient, and the budget unit member can dispose of the resource without the consent of the other owner, the budget unit member's share shall be counted as an available resource. The resource shall be divided equally among the owners unless they have a signed agreement specifying division; and

(C)          If a budget unit member owns resources jointly with a non‑assistance recipient, and the budget unit member cannot dispose of the resource without the consent of the other owners, it shall be determined whether the non‑assistance recipient consents to the disposal of the resource and counted as follows:

(i)            If the non-assistance recipient consents, the budget unit member's share of the resource shall be counted. Resources shall be divided equally among the owners unless they have a signed agreement specifying division; or

(ii)           If the non-assistance recipient refuses, the budget unit member's share shall not be counted.

(d)  Reserve items shall be counted for purposes of eligibility of Work First assistance as follows:

(1)           cash on hand;

(2)           the current balance of savings accounts;

(3)           that portion of a checking account other than the monthly income deposited to meet the family's needs; and

(4)           stocks, bonds, mutual fund shares.

(e)  Reserve items shall be excluded for purposes of eligibility of Work First assistance as follows:

(1)           personal effects and household goods;

(2)           a mobile home;

(3)           life insurance;

(4)           burial insurance;

(5)           that portion of a checking account that is the monthly income deposited to meet the family's needs;

(6)           life estate or remainder interest;

(7)           heir property from an estate which has not been settled;

(8)           motor vehicles;

(9)           real property including income-producing property;

(10)         income received from a reverse mortgage;

(11)         retirement funds;

(12)         trust funds;

(13)         remaining balances of lump-sum payments; and

(14)         a Uniform Transfer to Minors Account if the owner of the account is included in the budget unit.

(f)  The applicant or recipient's statement of the value of reserve property shall be accepted without further verification unless the statement of value is incomplete, inconsistent, unclear, or the values stated by the applicant or recipient would cause the budget unit's reserve to exceed the reserve maximum.

History Note:        Authority G.S. 108A-27; 143B‑153; 45 C.F.R. 233.20;

Eff. February 1, 1984;

Amended Eff. June 1, 1990; February 1, 1986;

Readopted Eff. October 1, 2021.