HomeMy WebLinkAboutMINUTES - 03112014 - C.68RECOMMENDATION(S):
APPROVE AND AUTHORIZE the County Treasurer-Tax Collector’s Office to be reimbursed by journal entry the
actual advertisement costs incurred as a result of funds in the Unclaimed Deposits Trust Fund (813700) escheated to
the General Fund (0005) .
FISCAL IMPACT:
Advertisement costs will be 100% covered by the Unclaimed Deposits Trust Funds, which are escheated to the
General Fund.
BACKGROUND:
Pursuant to Government Code Section 50050, any money that remains unclaimed in Treasury for three years is the
property of local agency after notice.
APPROVE OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR RECOMMENDATION OF BOARD COMMITTEE
Action of Board On: 03/11/2014 APPROVED AS RECOMMENDED OTHER
Clerks Notes:
VOTE OF SUPERVISORS
AYE:John Gioia, District I Supervisor
Candace Andersen, District II
Supervisor
Mary N. Piepho, District III
Supervisor
Karen Mitchoff, District IV
Supervisor
Federal D. Glover, District V
Supervisor
Contact: Brice Bins, 925
957-2848
I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the Board
of Supervisors on the date shown.
ATTESTED: March 11, 2014
David Twa, County Administrator and Clerk of the Board of Supervisors
By: June McHuen, Deputy
cc:
C. 68
To:Board of Supervisors
From:Russell Watts, Treasurer-Tax Collector
Date:March 11, 2014
Contra
Costa
County
Subject:Reimbursement for Advertisement Costs of Unclaimed Deposits Trust Fund
BACKGROUND: (CONT'D)
“At any time after the expiration of the three-year period, the treasurer of the local agency may cause a notice to be
published once a week for two successive weeks in a newspaper of general circulation published in the local
agency.” Hence, the Treasurer-Tax Collector’s Office places an advertisement annually on a Contra Costa newspaper
of all unclaimed funds in the Unclaimed Deposit Trust Fund (813700) that are eligible for escheatment. The
advertisement runs once a week for two consecutive weeks before escheating the unclaimed funds to County’s
General Fund.
CONSEQUENCE OF NEGATIVE ACTION:
If this action is not approved, the Treasurer-Tax Collector's Office will have to pay the advertisement costs, which
are not included in their department budget.
CHILDREN'S IMPACT STATEMENT:
Not applicable.