REPORT TO THE CITY COUNCIL
October 15, 2020
FROM: MICHAEL A. LIMA, Finance Director/(ex-officio)Treasurer
Finance Department
BY: BRIAN REAMS, Revenue Manager
Finance Department
SUBJECT:
Title
***RESOLUTION - Claiming funds of $441,187.01 for stale dated (uncashed) utility customer refund checks dated December 28, 2000, through December 30, 2016, and transferring said funds from Utility Sales Clearing Fund 52502 to Water Enterprise Fund 40101, Solid Waste Operating Fund 41001, Community Sanitation Operating Fund 41501, and Wastewater Operating Fund 40501. (Subject to Mayor's Veto)
Body
RECOMMENDATION:
Approve Resolution claiming funds of $441,187.01for stale dated (uncashed) utility customer refund checks dated December 28, 2000, through December 30, 2016, and transferring said funds from Utility Sales Clearing Fund 52502 to Water Enterprise Fund 40101, Solid Waste Operating Fund 41001, Community Sanitation Operating Fund 41501, and Wastewater Operating Fund 40501.
EXECUTIVE SUMMARY
State Law and City Policy allow the City to claim unclaimed monies in the City Treasury and transfer them into a fund specified by law or regulation. In this case, these uncashed checks represent excess customer fees and deposits paid for city utilities services. Uncashed checks issued by the City that are older than three years qualify as unclaimed funds. If the City follows the notification procedures outlined in State Law, these funds become the property of the City, and can be claimed and transferred into the Department of Public Utilities operating funds. Upon approval of the attached Resolution, Council may claim and transfer $441,187.01 into the Department of Public Utilities' Water, Solid Waste, Community Sanitation, and the Wastewater Operating Funds.
BACKGROUND
Under the City of Fresno Policy and Procedures for Claiming Unclaimed Money in the City of Fresno Treasury adopted December 5, 2019 the City may claim unclaimed funds held in the City's Trea...
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