Accession Number:

ADA263342

Title:

Unclaimed Properties

Descriptive Note:

Corporate Author:

GENERAL ACCOUNTING OFFICE WASHINGTON DC ACCOUNTING AND FINANCIAL MANAGEMENT DIV

Personal Author(s):

Report Date:

1991-02-01

Pagination or Media Count:

14.0

Abstract:

Each year, unclaimed properties are reported to the District of Columbias Unclaimed Property Division, which lists only the owners name and address in local newspapers in an effort to notify them of the existence of unclaimed property. Since the District of Columbias confidentiality statute does not allow us access to information in its unclaimed property records, we had to contact holders of the properties. We found that 45 of the 8,740 unclaimed properties the District of Columbia listed in 1989 belonged to federal agencies. Forty-one of these properties, with a total value of 30,699, were checks for refunds or payments due federal agencies. The nature and dollar values of the remaining four unclaimed properties turned over to the District of Columbia could not be determined because the holders did not retain records after relinquishing the properties. OMBs Chief of Credit and Cash Management told us that OMB is now considering several options for making federal agencies aware of unclaimed federal properties in the possession of state and local government entities.

Subject Categories:

  • Administration and Management
  • Government and Political Science

Distribution Statement:

APPROVED FOR PUBLIC RELEASE