The URL can be used to link to this page

Browse Search

Home My WebLink About930075.tiff RESOLUTION RE: AUTHORIZE THE CONTINUATION OF CURRENT PRACTICES RELATING TO THE HANDLING AND DISPOSITION OF UNCLAIMED PROPERTY WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to Colorado statute and the Weld County Home Rule Charter, is vested with the authority of administering the affairs of Weld County, Colorado, and WHEREAS, during the 1991 session of the Colorado General Assembly, the Unclaimed Property Act, C.R.S. , Section 38-13-101, et. seq. , was amended in an attempt to extend the coverage of the Act to unclaimed property held by local governments, and WHEREAS, it is not clear whether local governments are required to comply with the Act but it is clear that the Act allows local governments the option of being excluded from the requirements of the Act if the terms of local law require that unclaimed property be handled differently than set forth in the Act, and WHEREAS, various county departments have in the past complied with county policy regarding the handling and disposition of unclaimed property, and WHEREAS, Weld County desires to continue to handle and dispose of unclaimed property pursuant to existing county policy, and desires that the Board of County Commissioners confirm, ratify, and codify current policy to clarify that the County Departments shall not follow the permissive directions of the Unclaimed Property Act, and WHEREAS, the Weld County Clerk and Recorder and Weld County Treasurer have policies which have not yet been ratified by the Board of County Commissioners, which policies are attached and incorporated by the reference as Exhibit "A" and Exhibit "B", respectively, and WHEREAS, there is general county policy with respect to warrants adopted by the Board of County Commissioners on February 28, 1979, attached and incorporated by this reference as Exhibit "C", and for disposition of unclaimed property by the Sheriff, Ordinance #28, and WHEREAS, the Board of County Commissioners desires to continue the application of existing county policy to unclaimed property held by county officials, and desires to confirm, ratify, and codify county policy for the handling and disposition of unclaimed property. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that, to the fullest extent allowed by the provisions of the Unclaimed Property Act, including Section 38-13-134, all county officials and employees having custody of unclaimed property, as defined in the Unclaimed Property Act, C.R.S. , Section 38-13-101, et. seq. , are hereby directed to continue in effect the current practices of the various departments related to the handling and disposition of unclaimed property. After following the existing procedures for holding and advertising such unclaimed property, all non-cash unclaimed property shall be sold at the periodic county auctions, and the proceeds of the sale deposited in the county general fund, and all cash or cash-equivalent unclaimed property shall be liquidated, collected and deposited in the county general fund. 930075 f c 0015 CC Cle; CA°ern); (cu). hef RE: DISPOSITION OF UNCLAIMED PROPERTY PAGE 2 BE IT FURTHER RESOLVED that the Board hereby declares that county policy regarding unclaimed property held by the county shall be held for disposition by the county, and shall not be turned over to the State of Colorado. No unclaimed property shall be disposed of except pursuant to approved regulations and plans. The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 1st day of February, A.D. , 1993. ,// BOARD OF COUNTY COMMISSIONERS ATTEST:/ �,�,�/ A �� WELD -COUNTY, COLORADO Weld County Clerk to the Board G' /74.7 Constance L. H bert., hairman Deputy Clerk to the Boajd \ W. H Webster, P Tem APPROVED AS TO FORM: eo�Tiittounty At orney Dale K. Ha 1 J , I-dtaL<a 2 y,L/ !(zLyP Barbara J. Kirkmeyer a 930075 EXHIBIT A ' a MARY ANN FEUERSTEIN WELD COUNTY CLERK AND RECORDER ' P.O. BOX 459 WI GREELEY, COLORADO 80632 O (303)356-4000 EXT. 4335 COLORADO JANUARY 15, 1993 WELD COUNTY C FRY. AND RECORDER PROCEDURES FOR UNCLAIMED WARRANTS REFUND ESCROW ACCOUNT 810 - 0806 DAILY: 1. ENTER REFUND ON COMPUTER 2. TAKE MONEY FROM CASHIER DRAWER. HOLD FOR BI-WEEKLY DEPOSIT TO TREASURER'S OFFICE. WEEIIY: (TWICE; USUALLY TUESDAY AND FRIDAY) 1. TYPE REFUND MEMOS 2. RECOUNT MONNEY. SEND DEPOSIT TO TREASURER'S OFFICE 3. TYPE WARRANTS. MAIL TO CUSTOMER 4. RECORD IN REFUND LEDGER MONTHLY: 1. BALANCE REFUND LEDGER, CANCELLED CHECKS, AND TREASURER'S REPORT 2. LIST OUTSTANDING CHECKS YEARLY: 1. REQUEST TREASURER'S OFFICE TO TRANSIIER finAL OF OUTSTANDING CHECKS FROM PREVIOUS YEAR TO UNCLAIMED FUNDS ACCOUNT. ATTACH TO THIS REQUEST A LIST OF EACH OUTSTANDIIC CHECK BY NAME, CHECK NUMBER, DATE, AND AMOUNT. 2. COPIES OF THE ABOVE PROCEDURE ARE KEPT ON FILE IN THE ACCOUNTING DEPARTMENT OF THE WELD COUNTY CLERK AND RECORDER FOR APPROXIMATELY TEN YEARS. MARY FEUERSTEIN WELD COUNTY CLERK AND RECORDER 930075 (1 EXHIBIT B (it OFFICE OF THE COUNTY TREASURER FRANCIS M. LOUSTALET COUNTY TREASURER ' PHONE(303)3533845, EXT. 3250 el.%) POST OFFICE BOX 458 M p C. GREELEY, COLORADO 80632-0458 COLORADO January 18, 1993 The procedure for the transferring of unclaimed funds by the County Treasurer's Office is as follows: Every six months, checks that are older that six months are cancelled on the Treasurer's bookkeeping system and the total amount is put into the Unclaimed Funds account. The money that is in Unclaimed Funds is then transferred to the County General fund once a year, with the understanding that if a stale dated check is presented for payment, it will be paid out of the County General Account. Francis M Loustalet Weld County Treasurer gtaGMS- - EXHIBIT C RESOLUTION RE: VOIDING OF COUNTY WARRANTS. WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to Colorado Statute and the Weld County Home Rule Charter, is vested with the authority of administering the affairs of Weld County, Colorado, and WHEREAS, a number of County warrants issued by Weld County, Colorado are not claimed by the payee or presented for payment by the payee, and WHEREAS, the State of Colorado Statutes are silent on declaration of voided warrants for County Government, and WHEREAS, generally accepted accounting practices and audit principles dictate the disposition of such warrants , and WHEREAS , applicable Federal laws and banking practices specify that war- rants not presented after six (6) months are void, and WHEREAS, a survey of surrounding counties indicate that the common prac- tice is to void all warrants after six (6) months or less and the face of the warrant has inscribed a time period for presentation, and WHEREAS, the Director of Finance and County Treasurer recommend that the r Board adopt a policy specifying the proper disposition of such warrants. y, NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado that County warrants printed from this date forward shall have the following on the face of the warrant: "VOID IF NOT CASHED IN SIXTY DAYS". BE IT FURTHER RESOLVED by the Board of County Commissioners that any county warrants not presented to the County Treasurer within six (6) months of date of issue shall formally be declared void and the funds deposited in the general fund miscellaneous revenue account, Unclaimed Monies. BE IT FURTHER RESOLVED by the Board of County Commissioners that the Director of Finance will notify the County Treasurer of all warrants formally declared void. BE IT FURTHER RESOLVED by the Board of County Commissioners that after a warrant is formally declared void it can be reissued out of the General Fund by Board action should it be presented after six (6) months from the date of issue by the payee. -1- The above and foregoing Resolution was , on motion duly made and seconded, adopted by the following vote on the 28th day of Febraury, A. D. , 1979. BOARD OF COUNTY COMMISSIONERS MELD COUNTY , COLORADO az.-e-4.-.-- c4ce;-t__, See-,-1-71.-1-4_,) 9/r4"f")::,,,,,,,,,,/f7, ), ATTEST: \Mt:l ui at..., --(1„..,,,S; :� (1 Weld County Clerk and Recorder and Clerk to the Board 6-3;: k.r4,-,A,i--W-L.ic tidik �( De ut er APPR p Y County VE1D/AS TO FORM: c .) // ------—-4.:2___ __..6.,.....<____2 7 Cou�ttorney DATE PRESENTED: FEBRUARY 28, 1979 -2- mEmoRAnDum Beard of County Commissioners January 22,ci�h3 Date emtCOLORADO From Lee D. Morris Assistant Weld County TC)Attorney s"biectResolution to Authorize the Continuation of Current Practices Relating the Handling & Disposition of U,It.laimetl PLupeLLy Attached is a proposed Resolution which allows the County to continue to handle unclaimed property, including uncashed warrants, according to the County' s own procedures rather than following State Statutory Provisions which may require such property and funds to be deposited to the State. In the absence of "local law", the State could assert that local entities would have to follow State procedure and the funds would flow through the unclaimed property process administered by the State. Certain practices which have been followed are set forth in Memoranda from the Treasurer and the Clerk and Recorder. These practices will, if you choose to approve the Resolution, then be placed in the Administrative Manual for reference along with the other practices which have previously been adopted under Ordinance No. 28 and Resolution of February 28, 1979 . I would recommend placing this matter on the agenda for consideration and adoption. Schedule Agenda Work Session Don't Adopt Baxter Hall V Harbert Kirkmeyer Webster ix LDM/db Attachment pc: Don Warden Mike Loustalet Mary Ann Feuerstein Tom David reahandl.db "geld Hello