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:
N/A
Required:
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.
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:
N/A
Other Key Facts:
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):
Unclaimed property must be submitted to Washington State...
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