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EXHIBIT B <br />CALCULATION OF HOUSEHOLD INCOME <br />Calculation of income for inclusionary units is based on the anticipated gross annual income, <br />derived from all sources of income for all adults in the household. <br />Anticipated Gross Annual Income: <br />Anticipated gross annual income is the sum of the monthly gross income multiplied by 12. If a <br />Verification of Employment (VOE) document or other employer documentation indicates that <br />there will be a salary increase in the future (within the next 12 months) that income must be <br />included in the calculations for the anticipated gross annual income. For example, an increase <br />expected in six months would have to be factored into the latter half of the next 12 months' <br />income calculation. <br />Sources of Income: <br />I. The following are counted as sources of income: <br />a. wages and salaries (gross pay), overtime pay, bonuses, commissions, tips, fees; <br />b. net income from operation of a business or from rental of real or personal property; <br />c. dividends and interest; <br />d. the full amount of periodic payments received from social security, annuities, insurance <br />policies, retirement funds, pensions, disability or death benefits and other similar types of <br />periodic receipts; <br />e. payments in lieu of earnings, such as unemployment and disability compensation, worker's <br />compensation and severance pay, excluding lump sum additions to household assets; <br />f. public assistance to residents. If the public assistance payment to a resident includes an <br />amount specifically designated for shelter and utilities which is subject to adjustment by the <br />public assistance agency in accordance with the actual cost of shelter and utilities, the <br />amount of public assistance income to be included as income shall consist of: <br />1. The amount of the allowance or grant exclusive of the amount specifically designated <br />for shelter and utilities, plus <br />2. The maximum amount which the public assistance agency could in fact allow for the <br />family for shelter and utilities; <br />g. periodic and determinable allowances such as alimony and child support payments and <br />regular contributions received from persons not residing in the dwelling; and <br />1 <br />1199\10\3609857.1 <br />REV: 10-18-23 SK <br />