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Welcome Dan McAllister, Treasurer Tax-Collector 2 Agenda Goals - PowerPoint PPT Presentation

Dec 21, 2023 •482 likes •661 views

2015 Annual Countywide Escheatment Kick-off Meeting Welcome Dan McAllister, Treasurer Tax-Collector 2 Agenda Goals for today Escheatment Overview 2014 Recap Policy and Procedure Summary 2015 Timeline Q&A 3 Goals

  1. 2015 Annual Countywide Escheatment Kick-off Meeting

  2. Welcome Dan McAllister, Treasurer Tax-Collector 2

  3. Agenda • Goals for today • Escheatment Overview • 2014 Recap • Policy and Procedure Summary • 2015 Timeline • Q&A 3

  4. Goals for Today • Introduce the escheatment process • Summarize policies and procedures • Standardize the process • Ensure consistency Countywide • Share best practices • Review 2014 and plan for 2015 4

  5. Escheatment Overview • Transfer unclaimed property to the government • Common Law – feudal England 1,000 years ago • California Government Code 5

  6. 2014 Escheatment Recap • 5% payout rate in $ Items # Amount • 2.41% payout rate in #s • Largest: $2,000 to one Submitted 971 $ 128,169.68 claimant Paid 22 $ 5,888.63 • Dept w/ most: A&C- Removed 61 $ 10,833.24 Revenue & Recovery Escheated 888 $ 111,447.81 6

  7. Procedure Summary 1. Initial departmental lists to TTC 2. Consolidated list 3. Removal of items 4. Publication of lists 5. 60-day claim period 6. Final departmental lists to TTC 7. Board Letter 8. Transfer to General Fund/APCD Fund 7

  8. Procedure: Identify Items Contacts • Depts contact owners & document attempts • Depts set policy on due diligence Amounts • ≥$15: Over 3 years old; before 12/31/11 • <$15: Over 1 year old; before 12/31/13 8

  9. Procedure: Submit Items 9

  10. Procedure: Publicity 10

  11. Procedure: Claims 11

  12. Procedure: Claims 12

  13. Procedure: Final Steps • Finalize List • Board Letter • DART Transfer 13

  14. 2015 Escheatment Timeline March Mar-Apr April May June - 3/9 & 3/12: - Depts - 4/3: Lists due - TTC finalizes list - 6/12: Dept Kickoff Meeting compile lists -TTC makes - TTC orders ads deadline to - 3/10: TTC sends master list - TTC coordinates remove items list template to - TTC follows up with Mr. McAllister - 7/1: TTC depts with Depts finalizes ads July August September October December - 7/9 & 7/16: - Depts. - 9/7: Claims due - TTC prepares - By 12/4: Depts. Ads process - 9/18: Depts Board Letter transfer published claims submit final list - 10/27: BOS & remaining funds - Press (minus paid claims) APCD Meetings to General Fund conference & APCD Fund 14

  15. 2015 Checklist 2015 Countywide Escheatment Checklist Month Date Activity Completion March 9 Kick off meeting March 12 Kick off meeting Send initial list of April 3 escheatable items to TTC Request removal of items, if June 12 necessary July 9 Begin claims processing September 7 End claims processing Send final list of escheatable September 18 items to TTC After Board approval, transfer via DART to County December 4 General Fund (or APCD Fund) December 4 Send DART # to TTC 15

  16. Q&A 16

  17. TTC Contact Info Todd Cloaninger Administrative Analyst III Treasury Accounting Treasurer-Tax Collector (619)531-4704 Todd.Cloaninger@sdcounty.ca.gov CAC Room 152 17

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