|
|
|
|
COUNTY OF SAN MATEO
Inter-Departmental Correspondence
|
Tax Collector-Treasurer-Revenue Services
|
|
|
DATE:
|
December 5, 2007
|
BOARD MEETING DATE:
|
January 8, 2008
|
SPECIAL NOTICE/HEARING:
|
NONE
|
VOTE REQUIRED:
|
Four-Fifths
|
|
|
TO:
|
Honorable Board of Supervisors
|
FROM:
|
Lee Buffington, Tax Collector-Treasurer
|
SUBJECT:
|
Appropriation Transfer Request to Transfer Unclaimed Monies, in the County Treasury to the County Treasurer and Public Administrator.
|
|
|
RECOMMENDATION:
|
Approve an Appropriation Transfer Request transferring $13,220.92 from a special fund entitled Estate Unclaimed Monies, in the County Treasury, to the County Treasurer and Public Administrator as unanticipated revenue.
|
|
|
VISION ALIGNMENT:
|
Commitment: Responsive, effective and collaborative government.
|
Goal(s) 21 & 22: 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.
|
|
|
BACKGROUND:
|
Government Code § 50050 and 50051 provide that unclaimed money, not belonging to a local agency becomes property of that local agency after three years following the publication of a notice that the funds will become the property of that local agency on a designated date if no claims have been made. Pursuant to the procedures agreed upon by the Public Administrator and the Treasurer and approved by the County Manager, these funds are received from the Public Administrator’s office and are shared equally as unanticipated revenue, as approved in Escheat Procedures Memorandum, attached as “Exhibit A”. The last approval by the Board of Supervisors was on July 11, 2006, Resolution No. 068138.
|
|
|
DISCUSSION: There is currently on deposit with the County Treasurer, in a fund entitled “Unknown Heirs”, $13,220.92 that has remained unclaimed for three years. The County Treasurer has caused the appropriate notice to be published in the form and manner provided by Government Code § 50051 in the San Mateo County Times. See “Exhibit B”. There have been no claims made against this fund and after exercising due diligence, the fund has become property of the County under state statute. It is requested that this Appropriation Transfer Request be approved to transfer these funds in equal amounts, after the reimbursement of the publication cost to the Treasurer, as unanticipated revenue to the Treasurer and the Public Administrator.
|
|
|
FISCAL IMPACT:
|
Unanticipated revenue for both the County Treasurer and Public Administrator. There is no Net County Cost.
|