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June 10, 2025
ITEM TITLE
Unclaimed Monies: Transfer Unclaimed Monies from the Deposits Fund to the City General Fund
Report Number: 25-0105
Location: No specific geographic location.
Department: Finance
G.C. § 84308 Regulations Apply: No
Environmental Notice : The activity is not a “Project” as defined under Section 15378 of the California Environmental Quality Act State Guidelines. Therefore, pursuant to State Guidelines Section 15060(C)(3) no environmental review is required.
Recommended Action
Adopt a resolution transferring unclaimed monies in the amount of $172,964.08 from the Deposits Fund to the City General Fund.
SUMMARY
The City of Chula Vista (“City”) currently holds unclaimed monies in the Deposits Fund from uncashed accounts payable checks. Government Code sections 50050 et seq. state that money which remains unclaimed for three years may become the property of the Cit y after certain advertising requirements are met. Public notice was properly published on April 18, 2025, and April 25, 2025, stating that certain monies would become City property if still unclaimed on June 2, 2025. The unclaimed amount of $172,964.08 is now City property and is eligible for transfer to the City General Fund.
ENVIRONMENTAL REVIEW
The Director of Development Services has reviewed the proposed activity for compliance with the California Environmental Quality Act (“CEQA”) and has determined that the activity is not a “Project” as defined under Section 15378 of the State CEQA Guidelines because it will not result in a physical change in the environment.
Therefore, pursuant to Section 15060(c)(3) of the State CEQA Guidelines, the activity is not subject to CEQA.
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BOARD/COMMISSION/COMMITTEE RECOMMENDATION
Not Applicable
DISCUSSION
The City currently holds unclaimed monies in the Deposits Fund. These funds originate from stale-dated accounts payable checks that have remained unclaimed for three or more years. Pursuant to Government Code section 50050 et seq., money that remains unclaimed for three years may become the property of the City following compliance with certain public notice requirements. Specifically, the City must publish notice of the unclaimed funds in a newspaper of general circulation once a week for two consecutive weeks. (Gov.
Code, § 50050.) If no valid claim is made within the prescribed period, the funds become property of the City and may be transferred to the general fund. (Gov. Code, §§ 50050, 50051, 50053.) The City published notices in the Star News on April 18 and April 25, 2025. The notices stated that, as of June 2, 2025, certain unclaimed funds on deposit in the City treasury, which had remained unclaimed for three or more years, would become property of the City unless claimed by that date.
As of June 2, 2025, t he amount of $172,964.08 remains unclaimed and is now eligible for transfer to the General Fund.
DECISION-MAKER CONFLICT
Staff has reviewed the decision co ntemplated by this action and determined that it is not site -specific and consequently, the real property holdings of the City Councilmembers do not create a disqualifying real property-related financial conflict of interest under the Political Reform Act. (Cal. Gov. Code, § 87100 et seq.) Staff is not independently aware, and has not been informed by any City Councilmembers, of any other fact that may constitute a basis for a decision-maker conflict of interest in this matter.
CURRENT-YEAR FISCAL IMPACT
Approval of this resolution will result in the transfer of $172,964.08 from the Deposits Fund to the City General Fund, resulting in a positive fiscal impact of $172,964.08 to the General Fund.
ONGOING FISCAL IMPACT
There is no ongoing fiscal impact for this one-time transfer.
ATTACHMENTS
1. Star News Affidavit of Publication
Staff Contact: Sarah Schoen, Director of Finance/Treasurer Ashley Rodriguez, Principal Accountant