Reuniting Owners with Lost Money

New York Office of State Comptroller sent this bulletin at 07/30/2022 07:00 AM EDT

From left to right: Brooklyn Deputy Borough President Diana Richardson, Brooklyn Borough President Antonio Reynoso, Comptroller DiNapoli and Brooklyn District Attorney Eric Gonzalez

Reuniting Owners with Lost Money

State Comptroller DiNapoli oversees more than 46 million accounts in Unclaimed Funds valued at $17.5 billion that are waiting to be claimed by their rightful owners. Most unclaimed funds come from old bank accounts. After an account has been inactive for three years, banks are required to try to contact the account holder. If they are unsuccessful, the bank turns the money over to the State. On average, we return $1.5 million a day.

Searching for accounts is easy and free, and can be done online or over the phone. Check to see if there are any claims in your name. You can also check for the names of friends and relatives, places of worship or any groups, businesses or organizations with which you are affiliated. Call 1-800-221-9311 (M-F) or visit https://www.osc.state.ny.us/unclaimed-funds to learn if you have money to claim.

Local sales tax collections in New York State totaled more than $5.5 billion in the second quarter of 2022 (April-June), an increase of 12.2% or nearly $604 million compared to the same quarter last year, according to a new report issued by Comptroller DiNapoli. April and May collections grew by 15.7% and 16.7%, respectively, while June increased 6.5%, marking the first time since March 2021 that the overall monthly year-over-year growth dipped below double-digits.

Comptroller DiNapoli said the MTA’s revised ridership projections underscore that it must somehow bridge a looming fiscal canyon of more than $2 billion annually and plan for long-term service challenges. Read more

Municipal Audits

Town of Brookhaven Local Development Corporation
Livingston County Court and Trust
Utica Harbor Point Development Corporation
Village of Bemus Point
Delaware County

School District Audits

Bethlehem Central School District
Greater Amsterdam School District
Buffalo Collegiate Charter School
Fabius-Pompey Central School District
Friendship Central School District
Palmyra-Macedon Central School District
Unadilla Valley Central School District
Yorkshire-Pioneer Central School District

ALSO IN THE NEWS THIS WEEK

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Tweet of the Week
Tom DiNapoli @NYSComptroller

@MTA's ridership projections highlight its need to bridge a more than $2B fiscal canyon + plan for long-term service challenges. As it strategizes a way forward, it must be transparent with riders about its options.

https://www.osc.state.ny.us/press/releases/2022/07/dinapoli-statement-mtas-july-financial-plan