HomeMy WebLinkAbout9,Retention Unclaimed Funds
Consent Item # 9 September 5, 2012 Consideration of the Retention
Retention of Unclaimed Funds 2 funds was November 3, 2010Last time the Board approved the retention of unclaimed •Board must authorize the retention–Retain unclaimed funds on hand 3
or more years–Represented by Unprocessed Checks”12, “Authorizing the Retention of Funds -Resolution #89•District to payees who cannot be locatedUnclaimed funds are stale dated checks
issued by the •Background / History
New Information Retention of Unclaimed Funds 3 Legal ads placed September 1 & September 10, 2010$346 unclaimed balance–$1,699 refunded–Legal ads placed May 23, 2012 and May 30, 2012–$2,045
unclaimed checks older than three years–•$23,747 unclaimed balance–$1,280 refunded–Legal ad placed August 31, 2011–$66,000 refunded–Parcel owners notified 2006, 2009, and 2010–$91,000;
not eligible for standby charges–Donner Lake and Glenshire Water Standby 2004 & 2005•
Fiscal Impact Retention of Unclaimed Funds 4 would be recorded as Electric Miscellaneous RevenueRevenue and $346 of the unclaimed stale dated checks refunds would be recorded as Water
Miscellaneous The retention of the $23,747 of unclaimed water standby •
Recommendation Retention of Unclaimed Funds 5 Authorize the retention of unclaimed funds totaling $24,093•