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Recognition of Revenue for Certain Unclaimed Monies from Various City Funds <br />May 18, 2021 <br />Page 2 <br />1 <br />7 <br />2 <br />9 <br />Due Diligence Efforts <br />City staff reviewed and reconciled accounts with unclaimed monies in order to attempt to <br />identify and reach out to the appropriate owners. To ensure the public was aware of the <br />existence of unclaimed monies on file with the City, FMSA staff published a Public Notice <br />(Exhibit 1) in the Orange County Register in March 2021 and April 2021 for two (2) <br />successive weeks in accordance with the applicable Government Code sections. The City <br />did not receive any inquiries regarding the unclaimed monies as a result of the publication. <br />Part of the unclaimed monies included individual items that were less than $15. These <br />monies were not included in the publication per Government Code section 50055. <br />If the City Council approves the Recommended Action, unclaimed monies in the amount <br />of $241,876 will be recorded as revenue in the General Fund, in accordance with the <br />Government Code section 50053. Fiscal Year 2020-21 budget does not include any <br />revenue estimate for unclaimed monies. <br />ENVIRONMENTAL IMPACT <br />There is no environmental impact associated with this action. <br />FISCAL IMPACT <br />Unclaimed monies in the amount of $241,876 will be reclassified to the General Fund <br />(account no. 01102002-57010 – Miscellaneous Recoveries). <br />EXHIBIT <br />1. Public Notice <br />Submitted By: Kathryn Downs, FMSA Executive Director <br />Approved By: Kristine Ridge, City Manager