COUNTY OF SAN MATEO

Inter-Departmental Correspondence

Tax Collector-Treasurer-Revenue Services

 

DATE:

October 29, 2009

BOARD MEETING DATE:

December 1, 2009

SPECIAL NOTICE/HEARING:

NONE

VOTE REQUIRED:

Four-Fifths

 

TO:

Honorable Board of Supervisors

FROM:

Lee Buffington, Tax Collector-Treasurer-Revenue Services

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 $1,950.13 from a special fund entitled Estate Unclaimed Monies, in the County Treasury, to the County Treasurer and Public Administrator as unanticipated revenue.

 

BACKGROUND:

Government Code 50050 and 50051 provides 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 January 8, 2008, Resolution No. 069221.

 

DISCUSSION:

There is currently on deposit with the County Treasurer, in a fund entitled “Unknown Heirs”, $1,950.13 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, “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.

 
 

Approval of this ATR will contribute to the Shared Vision 2025 outcome of a Collaborative Community as our leaders forge partnerships, promote regional solutions, with informed and engaged residents, and approach issues with fiscal accountability and concern for future impacts.

 

FISCAL IMPACT:

Unanticipated revenue for both the County Treasurer and Public Administrator. There is no Net County Cost.