(Raleigh, N.C.) – State Treasurer Dale R. Folwell, CPA, visited Rocky Point Elementary School in Pender County today to return missing money that ended up in the Department of State Treasurer’s (DST) Unclaimed Property Division (UPD).
“This is a pretty good way to start off a new week,” said Pender County Schools Superintendent Dr. Steven Hill. “To receive a check from the state is a nice surprise, and it comes at a good time as schools are preparing for the start of a new year. The calendar says June, but August will be here before we know it.”
Rocky Point Elementary School has a student population of 420 students. About 90% of students are from low-income families, and half of all students are Hispanic.
“I’ve enjoyed getting to meet some of the hard-working staff and school leaders here,” said Treasurer Folwell, who is a member of the state Board of Education. “Great work is being done at Rocky Point Elementary School, evidenced by year-to-year student progress being above average compared to the rest of the state.”
During his visit Treasurer Folwell presented $500 that UPD staff identified as unclaimed assets belonging to Rocky Point Elementary School. He was joined by Don Hall, Pender County Board of Education member; Jimmy Tate, Pender County Commissioner-elect; and Rocky Point Elementary School Principal April Perkins. The money was identified during a routine staff review by UPD, commonly called NCCash.com.
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 nearly $95 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 June 6, DST paid 68,650 Cash Match claims totaling nearly $23 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/.