Item 22 - Escheat Money in Treasury
- AGENDA REPORT SUMMARY -
-
TO: Honorable Mayor and Member'~e City Counoil
FROM: James L. Bowersox, City Man
INTI1ATED BY: John D. Fitch, Assistant Cit1 nager ~
Peggy ~. Stewart, ~irector 0 Administrative Servic
Chr~st~ne Tsung, F~nance Manager~
DATE: July ~1, 1995
SUBJECT: Escheat Money in Treasury
ABSTRACT
Government codes provide a mechanism for retiring outstanding unclaimed
checks. Council action is required to authorize this process.
ENVIRONMENTAL REVIEW
Environmental review is not required for this item under California
Environmental Quality Act guidelines.
FISCAL IMPACT
--
The General Fund for the City would increase by $7,288.93 if none of the
warrants is claimed.
ADDmONAL PUBUC NOTIFICATION AND CODKl\PONDENCE
None
RECOMMENDATION
It is recommended that the City Council take the following action:
l. Direct staff to escheat the 23 checks listed in this agenda report
for $10.00 or less and return the funds to the general fund.
2 . Direct staff to escheat the remaining checks and transfer the
money to the general fund if the noticed checks are not claimed.
ACTION
~
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JUL 11 1995 ITEM 22 )
- AGENDA REPORl
CITY OF POW A Y
This report is included on the Consent Calendar. There will be no separate discussion of the report prior to approval by the
City Council unless members of the Council. staff or public request it to be removed from the Consent Calendar and
discussed separately. If you wish to have this report pulled for discussion, please fill out a slip indicating the report number
and give it to the City Clerk prior to the beginning of the City Council meeting.
TO: Honorable Mayor and Members of the City Council
FROM: James L. Bowersox, City Man~
INITIATED BY: John D. Fitch, Assistant City nager
Peggy A. Stewart, Director of Administrative Services
Christine Tsung, Finance Manager
DATE: July 11, 1995
SUBJECT: Escheat Money in Treasury
BACltGROOND
Currently the City has 49 checks that have been outstanding and
unclaimed for more than three years.
Government Code sections 50050 through 50055 have provisions that
permit checks outstanding for more than three years to be escheated.
The procedures followed to clear such checks vary depending on the
size of the check and the funding source.
Checks over $10.00 must be noticed in a newspaper once a week for two
consecutive weeks. If the money is unclaimed, on a designated date
that is between 45 and 60 days after the notice, the money becomes the
property of the City. If the money is in a fund other than the
general fund, the City Council may transfer it to the general fund.
For checks of $10.00 or less, the requirement to advertise is deleted.
FINDINGS
The City staff has reviewed the list of outstanding checks and
determined that the following 49 checks will have been outstanding for
over three years by the date of this report:
ACTION:
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- Agenda Report - Escheat Money in Treasury
July 11, 1995
Page 2
1. CHECKS FOR $10.00 OR LESS:
PAYEE CHECK # ISSUE DATE AMOUNT
Gunn, Nell 23967 7/26/91 $ 6.35
Ward 24173 7/25/91 4.91
Wagenbach, Douglas 24669 8/16/91 6.03
Do Murphy 25962 10/3/91 3.68
W T Dee 25968 10/9/91 6.06
Cheadle 26249 9/27/91 7.44
Tong 26267 9/27/91 2.84
Hiatt 26592 10/3/91 3.04
Volk 26602 10/3/91 3.52
Habetler 26617 10/3/91 2.56
Wooten 26621 10/3/91 2.12
Webb 26638 10/3/91 2.24
Brundage 26650 10/3/91 3.52
Wang 26652 10/3/91 3.56
Hammons 27188 10/17/91 2.28
Lee, M I 29582 1/9/92 3.00
Martinez, J a 30579 2/14/92 5.22
Deichmam, R F 30594 2/14/92 8.79
- RE - Max 30604 2/14/92 4.32
Culver, E 30857 2/20/92 4.68
Snerd, Mark 31892 3/27/92 7.50
Lee, Greg 32302 4/10/92 10.00
Gomez 33703 5/28/92 4.56
2 . CHECKS FOR MORE THAN $10.00:
Masterson, Glenda 23377 7/5/91 35.00
Fear, Deborah 23514 7/12/91 20.00
Aidi, Castro 24777 8/16/91 833.57
DeFranchesco, Frank 24783 8/16/91 411. 34
Aidi, Castro 25051 8/23/91 678.87
Davis, James 25055 8/23/91 11.48
Praver Bros Investment 25060 8/23/91 2,292.00
Cottrell, R. D. 25423 9/5/91 40.15
Pleekis, Theo 25430 9/5/91 148.54
Pomerado Hospital 25825 9/19/91 100.00
poway Unified School District 25831 9/19/91 325.00
S D County Aquatic C 27340 10/25/91 15.00
CFCA/FPO-SO 27742 11/8/91 60.00
Dee 28139 11/14/91 13 .00
Ehman 28680 12/3/91 30.21
Johnson, Chris 29181 12/26/91 42.00
Oatley, J. F. 30602 2/14/92 72 .43
Glines, J. 30860 2/20/92 , 12.88
Lemke, L. C. 30863 2/20/92 24.01
Ashley, Christopher 32856 4/30/92 138.60
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JUL 11 1995 ITEM 22 \
Agenda Report - Escheat Money in Treasury
July 11, 1995
Page 3
PAYEE CHECK 1/ ISSUE DATE AMOUNT
Mishler, Gary 32871 4/30/92 259.17
Moore, Tom L. 32872 4/30/92 738.06
Pacific Iron & Steel 32876 4/30/92 500.00
Koster 33119 5/8/92 25.00
Newburger 33702 5/28/92 60.40
Palomar Medical Cent 33790 6/5/92 294.00
The checks over $10.00 are to be advertised by the City Clerk. If not
claimed, these monies can be returned to the general fund 45 days
after the last date of publication.
ENVIRONMENTAL REVIEW
Environmental review is not required for this item under California
Environmental Quality Act guidelines.
FISCAL IMPACT
The General Fund for the City would increase by $7,288.93 if none of
the warrants is claimed.
ADDITIONAL PUBLIC NOTIFICATION AND CODDBSPONDBNCE
None
RECOMMENDATION
It is recommended that the City Council take the following action:
l. Direct staff to escheat the 23 checks listed above for $10.00 or
less and return the funds to the general fund.
2. Direct staff to escheat the remaining checks and transfer the
money to the general fund if the not~ced monies are not claimed.
JLB:JDF:PAS:CT:RM:ms
ESCHEA T. RM
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JUt 11 1995 ITEM 22 ,
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