(Raleigh, N.C.) – State Treasurer Dale R. Folwell, CPA, delivered a check to Brunswick County Manager Randell Woodruff on Friday, Dec. 18, as part of his ongoing focus to return money held by the state to its rightful owners.
“At the Department of State Treasurer (DST) we are in the check delivery business,” Treasurer Folwell said. “Today is one more example of how we are aggressively assisting businesses, charitable organizations, individuals and even government agencies reclaim money that is due to them even though they might not be aware of it.”
There are approximately 17 million properties in the Unclaimed Property Division (UPD) database valued at roughly $919 million. By law, DST safeguards the money, uncashed checks, forgotten bank accounts, utility deposits, stocks, bonds and personal property in abandoned safety deposit boxes until the owner claims it.
A review of records by UPD staff identified an uncashed check for $2,752.42 from the N.C. Department of Revenue payable to the South Brunswick Water and Sewer Authority. However, that authority is no longer in existence. Julie Miller, Brunswick County finance officer, said the authority entered into an asset purchase agreement with Brunswick County in 2004, and the system was absorbed into the Brunswick County Public Utilities department operated by the county.
Miller said the money will be used for utility purposes. As of the first quarter of 2020, Brunswick County Public Utilities had 45,380 water customers and 20,475 sewer customers.
Treasurer Folwell said he is grateful for legislative support of DST and its efforts to transfer money out of UPD into the hands of its rightful owners.
“Sen. Bill Rabon and Rep. Frank Iler, who represent the people of Brunswick County, are among the elected officials who deserve our appreciation for their continued work in this and other areas,” Treasurer Folwell said.
Among other action, the General Assembly passed House Bill 1023 that enabled DST to launch NCCash Match, a pilot program designed to expedite the process of returning small UPD claims to the owners by waiving paperwork requirements.
Under NCCash Match UPD proactively researches records to identify qualifying claims of $250 or less. Notification letters are then mailed to claimants and, when verified, checks are issued in six to eight weeks.
To date, the program has paid 6,294 claims totaling $418,368 including $4,007.58 that has been returned to 58 claimants in Brunswick County. The program is on track to reach the goal of paying 25,000 of the expedited claims worth $1.4 million total over a six-month period.
To check the UPD database to determine if you, family members or friends have money waiting for you go to NCCash.com and follow the simple instructions that are provided on the website.