COUNTY OF SAN MATEO

Inter-Departmental Correspondence

Treasurer-Tax Collector

DATE:

February 18, 2003

BOARD MEETING DATE:

March 11, 2003

TO:

Honorable Board of Supervisors

FROM:

Lee Buffington, Treasurer-Tax Collector

SUBJECT:

Resolution Declaring Unclaimed Monies, In The County Treasury, Property Of The County Of San Mateo And Transferring Said Unclaimed Monies To The County Treasurer And Public Administrator

Recommendation

Adopt a resolution authorizing the President of the Board of Supervisors to declare unclaimed monies in the County Treasury, property of the County of San Mateo.

Discussion

There is currently on deposit with the County Treasurer in a fund entitled "Unknown Heirs", $5,543.96 that has remained unclaimed for more than three years. The County Treasurer has caused appropriate notice to be published, in the form and manner provided by Government Code section 50050 and 50051, in the San Mateo County Times (Exhibit "A"). There have been no claims made against this fund and after exercising due diligence it is necessary and desirable to provide for the escheat of said monies to the County of San Mateo. Both the Treasurer and Public Administrator have agreed to share the escheated funds equally as unanticipated revenue as approved in the attached memorandum (Exhibit "B").

Vision Alignment

The collaborative efforts of the Treasurer and the Public Administrator to locate absent and missing heirs are in alignment with department and County visioning goals # 21 and 22.

Fiscal Impact

Unanticipated revenue for both the County Treasurer and Public Administrator.