Entering Transfer of Funds Data in BEACON

The Transfer of Assets page is enabled whenever you answer Yes to the Transfer of Assets question in the Income and Asset Q and A Navigator.

This page performs an ineligibility calculation for each program based on asset limit. You will use these amounts to determine the period of ineligibility off-line.

Any time one of the fields used in the calculation is changed, the ineligibility calculation amounts needs to be recalculated.

Reminder: The two icons at the top right-hand corner of this page are for Verification on the Fly and Case Notes. The icon at the bottom right hand corner of this page is for the Case History.

The Verification on the Fly Icon is available on all workflow pages. Click on the Verification on the Fly icon to enable it (a blue check mark will appear). You will be able to verify any new or changed item on this page without leaving the page. To turn off the Verification on the Fly, click on the icon again (the blue check mark will no longer appear). If the Verification on the Fly icon is not enabled you will have to visit the Verification tab to record receipt of a verification.

The Case Notes icon is available on all the workflow pages. The Case Notes icon can be used to make notes, concerning the page, actions taken or actions to be taken, for anyone visiting the page.; however, the Case Notes can only be viewed on the Narrative tab and not on the page itself.

The History icon is available on all the workflow pages. The History icon displays a historical record of past EBC transactions and the date entered, from most recent action to the first application.

Add a New Transfer of Funds Record

  1. open the Transfer of Funds page
  2. select a client from the Members List (BEACON defaults to grantee)
  3. for Type, select the asset type from the dropdown list:
    1. Financial Holding
    2. Real Property
    3. Insurance
    4. Refund
    5. Liquid
    6. Vehicle
    7. Pension
  4. for Transfer (date), enter the date when the asset was transferred. You can select a date from the popup calendar
  5. for Discovery (date), enter the date when the asset transfer was discovered.  You can select a date from the popup calendar
  6. for Gross Transfer Value, enter the current dollar value of the asset.

    1. Important: BEACON adds a decimal point only for whole dollar amounts (if $40 is entered, BEACON adds the decimal point and the amount will show as $40.00). You will need to add a decimal point when entering the value of an asset that is not a whole dollar amount. ExampleExampleIf a value of $40.50 is entered in BEACON as 4050, BEACON will add a decimal point and make the amount $4050.00.  You will need to insert a decimal point manually ($40 + decimal point + 50) to capture the correct amount of $40.50. 

  7. for Encumbrance/Compensation Amount, enter the encumbrance or compensation amount of the asset

    1. Note: The Encumbrance/Compensation Amount will be deducted from the Ineligibility Calculation Amount, listed at the bottom of the page, when the calculate button is clicked.

  8. for Fair Market Value, if the transferred asset amount was:
    1. less than the fair market value, select Less Than
    2. equal to the fair market value, select Equal To
    3. greater than the fair market value, select Greater Than
  9. for Transfer to whom, enter the person to whom the asset was transferred
  10. for Relationship, select the client ’s relationship with the person specified in Transfer to Whom from the dropdown list
  11. for Reason, enter the reason why the asset was transferred
  12. to get Ineligibility Calculation Amounts, click the Calculate button.  The system will calculate the amounts to be used for calculating the ineligibility period for each program based on program rules and information entered for the asset on this page
  13. to save the record to the select list, click the Save button
  14. to enter information for a new record, repeat steps 3-13
  15. click Next to save your entries or changes and go to the next page in the workflow, or
  16. click Finish to save your entries or changes and to exit the page and the workflow

Sanctioning for Transfer of Funds

When you enter transfer of assets data, and complete the calculation, BEACON subtracts the Encumbrance/Compensation amount, if any, from the gross asset value. The result is the Ineligibility Calculation Amount, which is displayed at the bottom of the page. You must then use that amount to determine the period of ineligibility, in accordance with each program’s current policy. The period of ineligibility calculation must be completed offline (see the period of ineligibility chart on the Transfer of Assets program guide page).

  1. To deny or close a case for transfer of assets:
  2. go to the AU Comp Results Page
  3. select the grantee from Household Member list.  The AU Member tab will populate with that grantee’s information
  4. click on the AU tab
  5. select the appropriate AU
  6. select Program Rules from the Reason Category dropdown list
  7. select Asset Transfer from the Reason dropdown list
  8. in the Penalty End Date box, enter the end date of period of ineligibility
  9. complete the transaction by completing the Verifications tab and the Interview Wrapup

Note: Denials/closings for transfer of assets, along with entry of the period of ineligibility, require supervisory approval.

Related Topics

Changing Transfer of Funds Data

Last Update: March 15, 2012