WILMINGTON — State Treasurer Dale Folwell will return $4,500 of missing funds to UNCW’s College of Health and Human Services on Tuesday.
The money was identified as an unclaimed asset under the Department of the State Treasurer’s Unclaimed Property Division, which is in charge of giving back lost, misdirected or overlooked funds to their rightful owners, according to a department press release.
The money will be returned in a check presentation in the UNCW bookstore with UNCW Chief Marketing and Communications Officer Andrea Weaver.
State law designates the Unclaimed Property Division to safeguard funds that are turned over to DST.
The unclaimed property could be “bank accounts, wages, utility deposits, insurance policy proceeds, stocks, bonds and content of safe deposit boxes that have been abandoned” according to the release.
Last fiscal year, the division paid out over 164,000 claims totalling close to $100 million through NCCash.com, the department’s repository for the unclaimed items. The website lists 17.6 million properties valued over a billion dollars waiting to be returned to owners.
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