(The Center Square) – More than one parent probably hopped on the internet and looked after North Carolina’s treasurer returned a few thousand dollars to the local public school system.
“How’d that happen?” would be logical, and the answer stunningly simple.
The Unclaimed Property Division, under authority of the state treasurer, holds unclaimed property that goes abandoned. It happens more often in the world of digital transactions and Treasurer Dale Folwell’s office has a link available for anyone to find out if they should file a claim for what they believe might be their part of the nearly $1.3 billion in the fund.
Yes, billion. And that’s with more than $108 million returned between July 1, 2022, and June 30, 2023.
Folwell took the oversized, symbolic presentation check with him to Guilford County Schools, rightfully returning $4,100.33. Though it could sound like small change, those in reception were more than happy for the district serving about 67,000 students at 126 schools.
Honestly, who among us couldn’t use an extra four grand? Never mind that public education money has long been a battle point between politicians.
In a statement, Folwell said, “As keeper of the public purse, I always appreciate the opportunity to put money back in the hands of the rightful owners. As a member of the State Board of Education, I am especially pleased to return this money to Guilford County Schools. School districts routinely find ways to stretch their dollars to empower classroom teachers and prepare students for college and careers. I am confident Guilford Schools will find the most appropriate use for this money where it will do the most good.”
The nearly $1.3 billion, a release says, is money “is awaiting return to the rightful owners after being lost, misdirected or overlooked. It represents 22.1 million properties statewide, and more than 25 million owners are associated with those properties.”
The property can be bank accounts, wages, utility deposits, insurance policy proceeds, stocks, bonds and contents of safe deposit boxes that have been abandoned. It winds up with the state in this manner through a variety of innocent means – examples being but not limited to forgetting money is due, move of location, failure to provide a new address, typing error in an address, name change, or even data loss when a business converts its computer system.
Being a North Carolina resident is not a requirement, just proof of rightful ownership. Anyone can check by going to NCCash.com. At more than 25 million owners, that’s more than twice the state population of 10.8 million.