[Mail_treas] Resolution Language for Transferring Unclaimed Funds back to General Fund

[Megan Titus]

Good morning,

It seems that a lot of us are wanting to clear out our unclaimed funds
balances! Below is an example for resolution language to do this (based on
responses I received). Be advised that you should also review your board
policy, in the event that you have one related to unclaimed funds. I also
have a balance of older outstanding checks that should be moved from the
general fund to the unclaimed funds account, so I would probably do a
separate resolution for this, using the wording below but obviously
changing the verbiage.

*Fund Transfer*
Resolution to approve the transfer of $xx,xxx.xx from fund xxx xxxx
Unclaimed Monies Fund to fund 001 0000 General Fund. The Unclaimed Monies
Fund xxx xxxx accounts for unclaimed funds for the district. Per Ohio
Revised Code 9.39, if the funds are not claimed within a period of five
years, the money shall revert to the general fund of the public office.
Funds through _______, 2013 only have been included for this transfer.


Thanks!

*Megan Q. Titus, CPA*

*Treasurer / CFO*
McDonald Local Schools
Phone: (330) 530-8051 ext. 1005
Fax: (330) 530-7041
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