H    Example Contract anticipated to be renewed

Mrs. Sheffield applies in March.  She is employed under a contract with the school district as a teacher’s aide.  She has received a contract for the last two years and expects to get a contract for the next school year too.

The contract covers the school year from August 23^rd through May 23^rd.  Mrs. Sheffield will be paid bi-weekly, and the total contract amount is $24,600. 

The monthly equivalent is calculated by taking the anticipated income from the month she applied through February of the following year.