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

▶
welcome
SMART_READER_LITE
LIVE PREVIEW

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

Dec 21, 2023 482 likes •664 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

slide-1
SLIDE 1

2015

Annual Countywide Escheatment Kick-off Meeting

slide-2
SLIDE 2

Welcome

Dan McAllister, Treasurer Tax-Collector

2

slide-3
SLIDE 3
  • Goals for today
  • Escheatment Overview
  • 2014 Recap
  • Policy and Procedure Summary
  • 2015 Timeline
  • Q&A

Agenda

3

slide-4
SLIDE 4
  • Introduce the escheatment process
  • Summarize policies and procedures
  • Standardize the process
  • Ensure consistency Countywide
  • Share best practices
  • Review 2014 and plan for 2015

Goals for Today

4

slide-5
SLIDE 5
  • Transfer unclaimed property to the government
  • Common Law – feudal England 1,000 years ago
  • California Government Code

Escheatment Overview

5

slide-6
SLIDE 6

6

2014 Escheatment Recap

  • 5% payout rate in $
  • 2.41% payout rate in #s
  • Largest: $2,000 to one

claimant

  • Dept w/ most: A&C-

Revenue & Recovery

Items # Amount Submitted 971 $ 128,169.68 Paid 22 $ 5,888.63 Removed 61 $ 10,833.24 Escheated 888 $ 111,447.81

slide-7
SLIDE 7

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

Procedure Summary

7

slide-8
SLIDE 8

Procedure: Identify Items

8

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
slide-9
SLIDE 9

9

Procedure: Submit Items

slide-10
SLIDE 10

Procedure: Publicity

10

slide-11
SLIDE 11

11

Procedure: Claims

slide-12
SLIDE 12

12

Procedure: Claims

slide-13
SLIDE 13

Procedure: Final Steps

13

  • Finalize List
  • Board Letter
  • DART Transfer
slide-14
SLIDE 14

March

  • 3/9 & 3/12:

Kickoff Meeting

  • 3/10: TTC sends

list template to depts Mar-Apr

  • Depts

compile lists April

  • 4/3: Lists due
  • TTC makes

master list

  • TTC follows up

with Depts May

  • TTC finalizes list
  • TTC orders ads
  • TTC coordinates

with Mr. McAllister June

  • 6/12: Dept

deadline to remove items

  • 7/1: TTC

finalizes ads

2015 Escheatment Timeline

July

  • 7/9 & 7/16:

Ads published

  • Press

conference August

  • Depts.

process claims September

  • 9/7: Claims due
  • 9/18: Depts

submit final list (minus paid claims) October

  • TTC prepares

Board Letter

  • 10/27: BOS &

APCD Meetings December

  • By 12/4: Depts.

transfer remaining funds to General Fund & APCD Fund

14

slide-15
SLIDE 15

15

2015 Checklist

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

2015 Countywide Escheatment Checklist

slide-16
SLIDE 16

Q&A

16

slide-17
SLIDE 17

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

17

TTC Contact Info