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What is considered Unclaimed Monies? Checks disbursed by the City Treasurer's Office are considered by the State of Pennsylvania as abandoned or unclaimed if for five years that there has been no contact with the owner.
Why are they Unclaimed? The answer is unknown. However, the fact is that a check has been issued to someone or some business entity and the check has not been cashed. Are other City checks unclaimed? There may be other related City government issued checks that are not monitored by the City Treasurer's Office for unclaimed monies. They are the responsibility of the respective agency administering the account. What information does the City Treasurer have? The City Treasurer's Officer reviews annually checks issued and complies a list of checks that remain un-cashed. After, a period of one year all monies for checks outstanding are deposited to a City account for unclaimed monies. If the owner does not come forward within five years, the Office of the Director of Finance – Accounting Bureau will forward the amount of the unclaimed checks with all of the "property" as defined for unclaimed monies to the State of Pennsylvania. More about unclaimed monies compliance to City Standard Accounting Procedures. |
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