Minnesota Minnesota

Combined Manual

Combined Manual


COUNTED ASSETS

ISSUE DATE: 06/2016

MFIP, DWP, MSA, GA, GRH:
The following assets are counted toward the asset limit if they are available to the assistance unit, or to people not in the unit whose assets must be counted. See 0015.03 (Asset Limits), 0015.06 (Availability of Assets), 0015.48 (Whose Assets to Consider), 0010.18.01 (Mandatory Verifications - Cash Assistance).

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Cash.

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Bank Accounts:

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Checking accounts.

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Savings accounts.

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Debit cards. An EBT card is not a debit card. See DEBIT CARD in 0002.13 (Glossary: Conciliation...).

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Money market accounts.

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Matured certificates of deposit. See MATURED CERTIFICATE OF DEPOSIT in 0002.39 (Glossary: Lump Sum...).

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Stocks and Bonds that can be accessed without a financial penalty.

Financial penalties include any reduction in an investments value or benefit if accessed early, surrender charges, penalties for early withdrawal, revocation of bonuses or one-time payments, higher fees, or reduced interest guarantees.

Pension and retirement accounts are considered stocks and bonds.

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Vehicles.

Count all vehicles owned by members of an assistance unit and not excluded under 0015.39 (Assets - Vehicle Exclusions).

See 0015.54 (Evaluation of Vehicles) to determine how to value a counted vehicle. For the definition of VEHICLES, see 0002.71 (Glossary: Two Party...).



SNAP:
There is no asset limit for any unit.



MSA, GRH:
For non-SSI receipients, follow GA.

For SSI recipients, no action is required. SSA makes all asset determinations.


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