TREASURER’S OFFICE



Escheat of Money

Gov't Section 50050-50056

I. Operating Expenses – Under Minimum ($15.00)

Finance Office:

A) At the end of every fiscal year, identify all outstanding checks by check number, date, name and fund which are under $15.00 and which are over one (1) year old for all bank accounts. Provide list to City Treasurer.

City Treasurer Department:

B) City Treasurer to request Council action for approval of the transfer of these funds to revenue in the general fund.

II. Operating Expenses – Equal or Greater Than Minimum ($15.00)

Finance:

A) At the end of every fiscal year, identify all outstanding checks by check number, date, name and fund which are equal or greater than $15.00 and which are over 1 year old. Send a letter notifying payees of outstanding check that has reached “Abandoned Property Status” allowing three (3) weeks for response.

B) Upon receipt of a letter, a party of interest may file a claim with the City Treasury which must include claimant’s name, address, amount of claim, the grounds on which the claim is founded and any other information that may be required by the City Treasurer. (Copy of “Claim form” attached.) The City Treasurer will provide this to the Finance Officer for review and approval. If approved, paperwork for issuance of a new check will be processed by accounting.

C) After the response period has expired, identify these items as stale over one (1) year.

D) At the end of every fiscal year, identify all remaining outstanding checks over three (3) years old including check number, date, name and fund and move to Unclaimed Warrants account. Provide list to City Treasurer.

City Treasurer Department:

E) City Treasurer will provide list to City Clerk to publish unclaimed moneys in a newspaper notice. The notice is to be published once a week for two successive weeks in a newspaper of general circulation published in the City. The notice shall state the amount of money, the fund in which it is held, and that it is proposed that the money will become the property of the City on a designated date not less than forty-five (45) days nor more than sixty (60) days after the first publication of the notice.

F) Upon publication, a party of interest may file a claim with the City Treasurer which must include claimant’s name, address, amount of claim, the grounds on which the claim is founded and any other information that may be required by the City Treasurer. (Copy of “Claim Form” attached.) The City Treasurer will provide this to the Finance Officer for review and approval. If approved, paperwork for issuance of a new check will be processed by accounting.

G) After the second publication in a newspaper, the City Treasurer will prepare an RCA and request Council take action to approve the transfer of all amounts in the Unclaimed Warrants account over three (3) years old to the General Fund or if it is restitution collected on behalf of victims, it shall be either deposited into the Restitution Fund or used by the City for purposes of victim services after the expiration of the three-year period.

III. Bond Funds – Under Minimum ($15.00)

Finance Office:

A) At the end of every fiscal year, identify all outstanding checks by check number, date, name and fund which are under $15.00 and which are over 1 year. Provide list to City Treasurer.

City Treasurer Department:

B) City Treasurer to request Council action for approval of the transfer of these funds to revenue in the general fund.

IV. Bond Funds – Equal or Greater Than Minimum ($15.00)

Finance Office:

B) At the end of every fiscal year, identify all outstanding checks by check number, date, name and fund which are equal or greater than $15.00 and which are over 1 year old. Send a letter notifying payees of outstanding check that has reached “Abandoned Property Status” allowing three (3) weeks for response.

B) Upon receipt of a letter, a party on interest may file a claim with the City Treasurer which must include claimant’s name, address, amount of claim, the grounds on which the claim is founded and any other information that may be required by the City Treasurer. (Copy of “Claim Form” attached.) The City Treasurer will provide this to the Finance Officer for review and approval. If approved, paperwork for issuance of a new check will be processed by accounting.

C) After the response period has expired, identify these items as stale over one (1) year.

D) At the end of every fiscal year, identify all remaining outstanding checks over three (3) years old including check number, date, name and fund and move to Unclaimed Warrants account. Provide list to City Treasurer.

City Treasurer Department:

E) City Treasurer will provide list to City Clerk to publish unclaimed moneys in a newspaper notice. The notice is to be published once a week for two successive weeks in a newspaper of general circulation published in the City. The notice shall state the amount of money, the fund in which it is held, and that it is proposed that the money will become the property of the City on a designated date not less than forty-five (45) days nor more than sixty (60) days after the first publication of the notice.

F) Upon publication, a party of interest may file a claim with the City Treasury which must include claimant’s name, address, amount of claim, the grounds on which the claim is founded and any other information that may be required by the City Treasurer. (Copy of “Claim Form” attached.) The City Treasurer will provide this to the Finance Officer for approval. If a claim is approved, a new check will be issued and the amount removed from the Unclaimed Warrants account.

G) After the second publication in a newspaper, the City Treasurer will prepare an RCA and request Council take action to approve the transfer of all amounts in the Unclaimed Warrants account over three (3) years old to the General Fund.

Notice for Paper:

NOTICE IS HEREBY GIVEN THAT, the Treasurer of the City of Huntington Beach, County of Orange, State of California, declares that the following monetary sums have been held by the City Treasurer and have remained unclaimed in the funds hereafter indicated for a period of over three (3) years and will become the property of the City of Huntington Beach on the 11th day of November, 2002, a date not less than forty-five (45) days nor more than sixty (60) days after first publication on this Notice.

Any party of interest may, prior to the date designated herein above, file a claim with the City Treasurer which includes the claimant’s name, address, amount of claim, the grounds on which the claim is founded and the date, name, amount, and heading shown in this notice. The City Treasurer may accept or reject the claim. If rejected by the City Treasurer, the party submitting the claim may, within 30 days of receiving notice of rejection, file and serve on the City Treasurer a verified complaint seeking to recover all, or a designated part, of the unclaimed funds.

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