(Raleigh, N.C.) – State Treasurer Dale R. Folwell, CPA, praised the work being done at UNC-Wilmington’s College of Health & Human Services to fulfill its mission of training the next generation of health care and health services workers. While there, he had the opportunity to return money to the college to help fulfill its educational goals.
Treasurer Folwell teamed with UNCW Controller Heather Iannucci and UNCW General Accounting Manager Kim Blankenburg for a check presentation at the Fisher Student Center in the heart of the UNCW main campus in Wilmington on Tuesday, June 14. He returned $4,509.27 that staff at the Department of State Treasurer’s (DST) Unclaimed Property Division (UPD) identified during a routine review as unclaimed assets belonging to the college.
The giveback had special significance for Treasurer Folwell. He oversees the State Health Plan, which has more than 750,000 members.
“The College of Health & Human Services provides cutting-edge programs designed to improve the health and quality of life for residents of North Carolina, including those who teach, protect and otherwise provide public service,” Treasurer Folwell said. “With degrees and training earned at UNCW, today’s students become tomorrow’s medical researchers, nurses, gerontologists, public health therapists and health care administrators, all vital roles in our society that ensure quality of care that State Health Plan members deserve and have come to expect.”
“It’s important to UNC Wilmington’s operations to receive unclaimed property. We are a component unit of the state and depend on all sources of revenue to complete our mission to serve our students and the community,” Iannucci said. “This check represents multiple, individual checks that will be shared with the appropriate departments on campus as the original payors intended.”
UPD, commonly called NCCash.com, is the repository for 17.6 million properties valued at $1.02 billion under DST’s custody awaiting return to the rightful owners after being lost, misdirected or overlooked.
For the fiscal year through May 31, UPD has paid 164,985 claims totaling $94.9 million from NCCash.com. Part of that total has been disbursed through the NCCash Match program, a no-hassle, expedited system that eliminated paperwork processing. As of March 31, DST paid 79,120 Cash Match claims totaling nearly $25.8 million.
Under state law, UPD receives and safeguards funds that are escheated, or turned over, to DST. The unclaimed property consists of bank accounts, wages, utility deposits, insurance policy proceeds, stocks, bonds and contents of safe deposit boxes that have been abandoned. More information, including how to find out if you are owed money, can be found at https://www.nccash.com/.