Unclaimed Money: Proposals for Transferring Unclaimed Funds to States

reportActive / Technical Report | Accession Number: AD1100213 | Open PDF

Abstract:

Federal agencies hold hundreds of millions of dollars that individuals have never claimed. With certain exceptions, proposed legislation introduced by Senator Orrin G. Hatch and Representative Larry E. Craig would require that federal agencies turn over to the states any amounts agencies cannot return to owners. As requested, GAO is providing information to these Congressmen to assist them in assessing the impact of the bills. GAO identified existing laws that address unclaimed funds and assessed the effect that the bills would have on those statutes and the federal budget. For selected agencies, it provided data on amounts owed, described the agencies capabilities to identify and locate individual owners, and outlined agency procedures and efforts to do so.

Author(s):
Steinhoff, Jeffrey C. ; Mench, Melanchthon ; Lange, Margareth ; Narang, Jagdish ; Bell, Karen ; Farnsworth, Stephen ; Fields, Dorothy
Author Organization(s):
GENERAL ACCOUNTING OFFICE WASHINGTON DC WASHINGTON DC United States
Descriptive Note:
Technical Report
Pagination:
0070

Security Markings

DOCUMENT & CONTEXTUAL SUMMARY

Distribution:
Approved For Public Release
Distribution Statement:
Approved For Public Release;

RECORD

Collection: TR
Identifying Numbers
Report Number(s):
GAO/AFMD-89-44
 Subject Terms
Joint Capability Areas:
JCA_6.4.1_Secure Information Exchange; JCA_6_Net Centric; JCA_5_Command and Control; JCA_6.4_Information Assurance; JCA_1_Force Support; JCA_1.3_Human Capital Management; JCA_1.3.2_Personnel Management; JCA_5.5_Direct; JCA_5.6.3_Assess Achievement of Objectives; JCA_5.6_Monitor; JCA_5.5.1_Communicate Intent and Guidance; JCA_5.5.3_Establish Metrics; JCA_8_Building Partnerships; JCA_4.2.2_Inventory Management; JCA_4.2_Supply; JCA_5.3_Planning; JCA_8.2_Shape; JCA_5.4_Decide; JCA_1.2.5_Lessons Learned; JCA_8.2.1_Partner with Governments and Institutions; JCA_1.2_Force Preparation
Communities of Interest:
Human Systems
Descriptor(s):
public administration, federal law, governments, money, law, federal budgets, financial management, personnel management, government, control systems
Field(s)/Group(s):
Economics and Cost Analysis
Keyword(s):
unclaimed money
Report Date:
1989 May 09
Creation Date:
2020 Jun 02