Escheatment of
Unclaimed Funds
May 2, 2023
Escheatment Process for Unclaimed Funds
• Each fiscal year, a list of unclaimed funds $15 or greater and over three years old is prepared.
• Each payee on this list was sent a le tter notifying them of their outstanding warrants and given three weeks to respond.
• After the three week period and completi on of all outstanding warrants claims, the Chief Financial Officer publishes a notice of all unclaimed funds over three years old and $15 or greater, per CA Govt Code § 50050-50051. • The list was published on January 5, 2023, and January 12, 2023, in the Huntington Beach Wave. Payees were given until February 28, 2023 to respond. • All unclaimed warrants at this point may be transferred to the City’s General Fund upon approval by City Council per CA Govt Code § 50053. • Additionally, any unclaimed funds under $15 outstanding for more than one year do not require publication and can be transferred to the City’s General Fund upon approval by City Council per CA Govt Code § 50055.
Questions?