Special Notice / Hearing: None__
Vote Required: Majority
To: Honorable Board of Supervisors
From: Sandie Arnott, Treasurer-Tax Collector
Subject: Transferring Unclaimed Monies to Treasurer and Aging and Adult Services.
RECOMMENDATION:
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Adopt a resolution declaring unclaimed monies in the County Treasury property of the County of San Mateo and transferring said unclaimed monies to the Treasurer and Aging and Adult Services.
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BACKGROUND:
Government Code sections 50050 and 50051 declares unclaimed money, not belonging to a local agency, property of that local agency after three years and publication of a notice that the funds will become the property of the local agency on a designated date if no claims have been made. Pursuant to the procedures agreed upon by the Treasurer and Aging and Adult Services, these funds are shared equally as unanticipated revenue.
DISCUSSION:
There is currently on deposit with the Treasurer, in a fund entitled "Unknown Heirs," $18,988.29 that has remained unclaimed for over three years. The Treasurer has caused the appropriate notice to be published in the form and manner provided by Government Code section 50050 and 50051, in the Pacifica Tribune. There were no claims made against this fund and after exercising due diligence, the funds have become property of the County under state statute. It is requested that a resolution be approved declaring these funds property of the County and transferring these funds in equal amounts as unanticipated revenue to the Treasurer and Aging and Adult Services.
County Counsel has reviewed and approved the resolution as to form.
Approval of this resolution contributes to the Shared Vision 2025 outcome of a Collaborative Community by managing unclaimed monies, notifying the public, and remaining in compliance with Government Code section 50050 and 50051.
FISCAL IMPACT:
Unanticipated revenue for both the Treasurer and Aging and Adult Services. There is no Net Co...
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