TO: Committee of the Whole - Finance, Administration, and Communications
FROM: Mayor Angela Birney
DEPARTMENT DIRECTOR CONTACT(S):
|
Finance |
Kelley Cochran |
425-556-2748 |
DEPARTMENT STAFF:
|
Finance |
Nida Hermoso |
Finance Manager |
|
Finance |
Maria Ubezzi |
Financial Analyst |
TITLE:
title
2026 Unclaimed Property Report
OVERVIEW STATEMENT:
recommendation
The unclaimed property process involves identifying, reporting, and remitting eligible unclaimed funds to the appropriate state authority when they remain inactive or unclaimed for a specific period. The City is required to file annually with the State of Washington, detailing checks or cash that remain uncashed/unclaimed. All payees were sent written notices and were provided with ample time to claim the funds from the City. There is no action for Council. The report is being provided as informational only.
body
☒ Additional Background Information/Description of Proposal Attached
REQUESTED ACTION:
☒ Receive Information ☐ Provide Direction ☐ Approve
REQUEST RATIONALE:
• Relevant Plans/Policies:
o N/A
• Required:
o RCW 63.30 - Washington State’s Revised Uniform Unclaimed Property Act, which establishes requirements for identifying, reporting, and remitting unclaimed property to the Department of Revenue.
o Washington State RUUPA (ESSB 5531) - The 2022 Washington State legislation that established the revised unclaimed property law, replacing the previous law under RCW 63.29, effective January 1, 2023.
• Council Request:
o N/A
• Other Key Facts:
o In prior years, Council has been notified annually of the unclaimed property totals via email. This year, Council’s notification is being included in the Council process to increase visibility and awareness.
OUTCOMES:
The unclaimed property process ensures these assets are properly accounted for and made available to their rightful owners.
COMMUNITY/STAKEHOLDER OUTREACH AND INVOLVEMENT:
• Timeline (previous or planned):
o Unclaimed property must be submitted to Washington State by October 31, 2026.
• Outreach Methods and Results:
o Notices were mailed and emailed in July 2026 for all checks still outstanding that were issued between July 1, 2024, and June 30, 2025.
• Feedback Summary:
o N/A
BUDGET IMPACT:
Total Cost:
N/A
Approved in current biennial budget: ☐ Yes ☐ No ☒ N/A
Budget Offer Number:
N/A
Budget Priority:
Strategic and Responsive
Other budget impacts or additional costs: ☐ Yes ☐ No ☒ N/A
If yes, explain:
N/A
Funding source(s):
N/A
Budget/Funding Constraints:
N/A
☐ Additional budget details attached
COUNCIL REVIEW:
Previous Contact(s)
|
Date |
Meeting |
Requested Action |
|
N/A |
Item has not been presented to Council |
N/A |
Proposed Upcoming Contact(s)
|
Date |
Meeting |
Requested Action |
|
N/A |
None proposed at this time |
N/A |
Time Constraints:
Unclaimed property must be filed by October 31, 2026, to Washington State. The City does not have other states to report to this year. Council is receiving this report after the Washington State deadline because it is informational only.
ANTICIPATED RESULT IF NOT APPROVED:
N/A
ATTACHMENTS:
Attachment A: 2026 Unclaimed Property List Report