8-1954: Unclaimed Property

Purpose

This policy provides written guidance for all unclaimed property in the form of cash that resides in the County of Sacramento.

Authority

• Government Code (GC) Section 50050-50056

Scope

This policy applies to all County Departments' handling of unclaimed monies such as inmates' monies, overpayment utility billing, and estates' monies with unknown heirs that are not the property of the County of Sacramento and remain unclaimed for a period of more than three years. The unclaimed monies become the property of Sacramento County on a designated date not less than 45 days nor more than 60 days after an initial public notice is published (GC Section 50050 and 50051).

Policy

P​​rocedures

A.  Per Government Code 50056, the Treasurer may delegate the responsibility of the unclaimed monies process to the department that maintains the supporting records of the unclaimed money, based on the initial receipt or deposit of that money or both. The Treasurer has delegated its responsibilities for processing unclaimed money claims to the Auditor-Controller.

B.  Annually, the Department of Finance (DOF) will compile the list of unclaimed monies, which are equal to or greater than fifteen dollars ($15.00) and at least three years old. DOF will publish the list once a week for two consecutive weeks in a newspaper of general circulation, published in the County of Sacramento.. The notice shall state the individual or business name, the amount of money, the fund in which the money is held, and that the money will become the property of the County on a specific date. Upon completion of this date, the remaining unclaimed funds from this list shall become the property of the County on a date not less than forty-five days nor more than sixty days after an initial public notice. (GC Section 50050 and 50051).

C.  Upon or prior to publication, a party of interest may file a claim for the funds with DOF. The claim must include the claimant's name, address, a copy of identification, amount of claim, the grounds on which the claim is founded. DOF can require additional information to help substantiate the claim and to establish the authority of the claimant to receive the funds. If DOF and the other Departments reject all or part of a claim for unclaimed money, the claimant may file a verified complaint seeking to recover all, or a designated part, of the money in a court within the County of Sacramento. The copy of the complaint and summons shall be served within thirty (30) days of receiving notice that the claim was rejected. DOF and the other Departments shall withhold the release of the portion of unclaimed money for which a court action has been filed until a decision is rendered by the court (GC Section 50052).

D.   Notwithstanding Section 50052, DOF may release the unclaimed monies to the depositor, their heir, beneficiary, or duly appointed representative if claimed prior to the date the funds become the property of the County an if satisfactory proof has been submitted (GC Section 50052.5).

E.  Upon the completion of the three year period, DOF may transfer monies to the General Fund. Any claim submission after the three years will be denied after monies transfer to the County (GC Section 50053).

F.  DOF may transfer all item less than $15.00, or any amount if the depositor's name is unknown, which remain unclaimed for a period of one year, to the general fund without the necessity of publication of a notice in a newspaper (GC Section 50055). Annually, DOF transfers (1) all items less than $15.00, or (2) any amount if the depositor's name is unknown and unclaimed for more than three years to the General Fund.​