TN 3 (07-90)
SI 01140.022 High/Low Development Option for Liquid Resources
Under the conditions specified in B. below, you need not determine the actual value of a liquid resource as of the first moment of each month in a period of review. Instead, you may use the verified highest or lowest value of the resource for the entire period of review in determining resources for all or some months within the period of review.
This option may save time in developing liquid resources such as:
stocks, bonds or mutual funds, whose previous 52-week highs and lows are readily available from newspapers;
certificates of deposit or U.S. Savings Bonds, whose current value is always the highest to date; or
checking or savings accounts, if the individual's own records are complete (SI 01140.200 B.).
B. Operating policy
1. More Than One Countable Liquid Resource
When an individual has more than one countable liquid resource, you may use:
the highest verified value for any or all of them if doing so permits eligibility for all months in the period of review; or
the lowest verified value for any or all of them if doing so results in ineligibility for all months in the period of review.
2. Single Countable Liquid Resource
If there is only one countable liquid resource, you may use the high /low option to establish eligibility or ineligibility for any month within the period of review. Determine resources for other months within the period of review in the usual manner.
C. Development and documentation
Any high or low value used in determining resources must be verified,and documentation must show that it applies throughout the period for which it is used.