Laserfiche WebLink
Finance and Management Services <br />www.santa-ana.org/finance <br />Item # 10 <br />City of Santa Ana <br />20 Civic Center Plaza, Santa Ana, CA 92701 <br />Staff Report <br />June 7, 2022 <br />TOPIC: Recognition of Revenue in the General Fund for Certain Unclaimed Deposits <br />AGENDA TITLE: <br />Approve the Recognition of $94,097.52 of Revenue for Certain Unclaimed Monies from <br />Various City Funds <br />RECOMMENDED ACTION <br />Approve the recognition of $94,097.52 of revenue in the General Fund for certain <br />unclaimed deposits, as allowed by state law. <br />DISCUSSION <br />Annually, the Finance and Management Services Agency (FMSA) reviews a listing of <br />unclaimed funds that are older than three (3) years. The nature of these funds includes <br />unclaimed funds related to deposits, commissary account, and other payments made by <br />the City. State law allows the City to publish a notification of the unclaimed funds, offering <br />the public an opportunity to claim them. In the absence of any claims, the City can <br />recognize them as revenue. State law also allows the City to transfer unclaimed funds, <br />held for a period of one (1) year, without publication for individual items $15 or less or any <br />amount if the depositor's name is unknown. FMSA has identified $94,097.52 of unclaimed <br />funds that can be recorded as revenue in the General Fund for the fiscal year ended June <br />30, 2022. The breakout of the unclaimed funds is as follows: <br />Funds Greater Than $15 <br />Unclaimed deposits & funds <br />Uncashed checks <br />Funds Less Than $15 <br />Uncashed checks <br />Amount <br />$47,093.11 <br />$46,514.60 <br />Total $93,607.71 <br />Amount <br />$489.81 <br />Grand Total $94,097.52 <br />