Laserfiche WebLink
Finance and Management Services <br />https://www.santa-ana.org/finance <br />Item # 18 <br />City of Santa Ana <br />20 Civic Center Plaza, Santa Ana, CA 92701 <br /> Staff Report <br />May 18, 2021 <br />TOPIC: Recognition of Revenue for Certain Unclaimed Monies from Various City Funds <br />AGENDA TITLE: <br />Approve the Recognition of $241,876 of General Fund Revenue for Certain Unclaimed <br />Monies from Various City Sources <br />RECOMMENDED ACTION <br />Approve the recognition of $241,876 of revenue in the General Fund for certain unclaimed <br />deposits, as allowed by state law. <br />DISCUSSION <br />Annually, the Finance and Management Services Agency (FMSA) reviews a listing of <br />unclaimed monies that are older than three (3) years. The nature of these monies includes <br />unclaimed monies related to deposits, commissary account, and uncashed checks. State <br />law allows the City to publish a notification of the unclaimed monies, offering the public <br />an opportunity to claim them. In the absence of any claims, the City can recognize them <br />as revenue. State law also allows the City to transfer unclaimed monies, held for a period <br />of one (1) year, without publication for individual items $15 or less or any amount if the <br />depositor’s name is unknown. FMSA has identified $241,876.16 of unclaimed monies that <br />can be recorded as revenue in the General Fund for the fiscal year ended June 30, 2021. <br />The break-out of the unclaimed monies is as follows: <br />Funds Greater Than $15 Amount <br />Deposits held $212,974 <br />Uncashed checks $ 28,460 <br />Total $241,434 <br />Funds $15 or less Amount <br />Uncashed checks $ 442 <br />Grand Total $241,876