Treasurer Folwell to Return Missing Cash to Lenoir County 4-H
(Raleigh, N.C.) – Treasurer Dale R. Folwell, CPA, will be in Kinston on Tuesday, Dec. 12, to return missing funds to Lenoir County 4-H.
4-H is the largest youth development organization in North Carolina, helping to educate the next generation of leaders and equipping them with the skills to succeed, according to its website.
Media attending the event will have an opportunity to ask Treasurer Folwell about UPD, commonly called NCCash.com. It is the repository for 17.7 million properties valued at $1.02 billion under DST’s custody awaiting return to the rightful owners after being lost, misdirected or overlooked. More than 19 million owners are associated with those properties being safeguarded by DST.
During a review of data in the system UPD staff identified $2,897.35 belonging to Lenoir County 4-H. County Extension Agent Tammy Kelly and Abbigail Barber, 4-H and Youth Development agent, will be on hand Tuesday to field questions about 4-H programs and operations.
UPD paid 178,857 claims amounting to more than $105 million during the 2022 fiscal year that ended June 30. Both numbers were historical records. The returns are on pace to set another record this fiscal year. Through Sept. 30, UPD has paid 45,262 claims totaling nearly $28.1 million from NCCash. Part of that total has been disbursed through the NCCash Match program, a no-hassle, expedited system that eliminated paperwork processing. As of Sept. 30, DST paid 25,058 Cash Match claims totaling nearly $8.4 million.
Under state law, UPD receives and safeguards funds that are escheated, or turned over, to DST. The unclaimed property consists of bank accounts, wages, utility deposits, insurance policy proceeds, stocks, bonds and contents of safe deposit boxes that have been abandoned.
Unclaimed property can result from a person or entity forgetting they are due money, or from a move of location and forgetting to provide a new address. It also could result from a typing error in a house number or zip code in an address, a name change, or data loss from a business converting its computer system. As society becomes more mobile and steadily moves to electronic transactions, the risk of having unclaimed property has increased.
More information, including how to find out if you are owed money, can be found at https://www.nccash.com/.
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