Glossary E-words (AAM)

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Earned income - Cash or in-kind benefits received as payment for work performed either as an employee, through the receipt of wages, salaries, tips or commissions, or as a self-employed individual.

Electronic benefit transfer (EBT) - the method of issuing financial assistance benefits to an account which is accessed by an individual with a magnetic stripe debit card.

Electronic funds transfer (EFT) - the method of issuing financial assistance benefits as a direct deposit into the client's personal bank account.

Equity value - The amount of money that would be available to the owner after the sale of a resource. Determine the equity value by subtracting any encumbrances, such as the principal owed on a loan or mortgage, from the fair market value. Equity value of life insurance policies means the cash surrender value minus any encumbrances.

Excluded income - Specific types of income which are not counted in the determination of eligibility or the amount of assistance.

Excluded resources - Real or personal property which is not counted in determining eligibility.