The City maintains a listing of all accounts payable checks that are at least one year old and have not been cashed. After three years, unclaimed items in excess of $15 must be published once a week, for two consecutive weeks, in a general circulation newspaper, notifying potential claimants that the City is holding certain sums of money, where the funds are being held, and that the money will become the property of the City if a claim is not made within the specified time period. The transfer to the City’s General Fund must not occur less than 45-days or more than 65-days after the first publication.
A party of interest may file an claim form at any time until the date on which the money becomes the property of the City. Upon receipt of the information and documents submitted by the required dates, the Finance Director may release the money to the depositor, or heir, beneficiary or duly appointed representative.
Any individual items of less than fifteen ($15) dollars, or any amount if the depositor’s name is unknown, which remain unclaimed for the period of one year may be transferred to the General Fund by the City Council without the necessity of public notification in a newspaper.