HomeMy WebLinkAbout10, Retention of Unclaimed Funds
ACTION ITEM #10Unclaimed FundsConsideration of the Retention of Unclaimed FundsConsideration of the Retention of November 2, 2016
Consideration of the Retention of Unclaimed Funds December 18, 2013Last time the Board approved the retention of unclaimed funds was •the retentionBoard must authorize •Retain unclaimed
funds on hand 3 or more years•by Unprocessed Checks” 12, “Authorizing the Retention of Funds Represented -Resolution #89•payees who cannot be locatedUnclaimed funds are stale dated
checks issued by the District to •BACKGROUND / HISTORY Consideration of the Retention of Unclaimed Funds
NEW INFORMATION Two checks were claimed as a result of the notices•September 2, 2016•August 26, 2016 •July 1, 2016•Notices ran in the Sierra Sun •yearsFourteen unclaimed checks totaling
$1,668.45, older than three •Unprocessed checks (aka stale dated checks)•Consideration of the Retention of Unclaimed FundsConsideration of the Retention of Unclaimed Funds
FISCAL IMPACT be recorded as Electric miscellaneous revenueThe retention of the $1,395.63 of unclaimed “stale” dated checks will •Consideration of the Retention of Unclaimed FundsConsideration
of the Retention of Unclaimed Funds
RECOMMENDATION Authorize the retention of unclaimed funds totaling $1,395.63•Consideration of the Retention of Unclaimed FundsConsideration of the Retention of Unclaimed Funds