Page 86 - Yucaipa Valley Water District - Board Workshop
P. 86
Workshop Memorandum 19-100
Date: April 9, 2019
From: Allison M. Edmisten, Chief Financial Officer
Subject: Discussion Regarding Resolution No. 2019-xx Authorizing the Release of
Unclaimed Monies to the Yucaipa Valley Water District Pursuant to Government
Code Section 50055
On October 3, 2017 the Board of Directors adopted the Unclaimed Funds Escheatment Policy
(DM 17-090). This policy requires District staff to annually transfer any monies from checks
greater than one year old and less than $15 to the District as miscellaneous revenue. In addition,
any checks greater than three years old and more than $15 will be noticed in a local paper and if
unclaimed after 60-days will also become miscellaneous revenue.
On January 8, 2019, District staff presented a list of unclaimed funds to the Board of Directors at
a workshop (WM 19-010). One check greater than one year old in the amount of $13.56 was
transferred to the District as miscellaneous revenue. There were 4 checks that were more than
three years old and more than $15 each. These checks totaled $137.20.
On December 18, 2018, letters were mailed to each of the four individuals/companies for the
checks mentioned above. The letter stated a response was required, in person or by mail, to
claim the funds (by March 20, 2019) and a new check would be issued. A total of two responses
were received. One response requested a new check be issued. One response stated the
payment was satisfied and no payment was due.
RESPONSE AMOUNT
No Payment Due (1) $32.80
Reissue checks (1) $31.57
On January 18, 2019 and January 25, 2019, the list of the remaining two outstanding checks was
published in the Yucaipa News Mirror. The publication stated the funds were required to be
claimed, in person or by mail, by March 26, 2019, otherwise the funds would become property of
the District. This deadline was amended from the March 20, 2019 date to allow the required
response time once the publication occurred. No responses were received.
The remaining amount of unclaimed funds as of March 27, 2019, in the amount of $105.63, will
be forfeited to the District as miscellaneous revenue.
Yucaipa Valley Water District - April 9, 2019 - Page 86 of 138
