(a) There is hereby established under R.C. § 5705.12, and subject to the approval of the Auditor of the State of Ohio, an Unclaimed Monies Fund, designated as Fund No. 738. Such Fund shall be used to account for unclaimed monies of the City of Maple Heights in accordance with R.C. § 9.39. Unclaimed money shall be deposited to the Unclaimed Monies Fund and shall be retained there until claimed by its lawful owner. If not claimed within a period of five years, the money shall revert to the City's General Fund.
(b) The following accounting procedures shall be followed by the Finance Director regarding outstanding, stale-dated warrants/checks issued by the City:
(1) Example: A warrant/check issued by the City to Sam's Garage was posted in the cash journal and appropriation ledger in the amount of one hundred dollars ($100.00) from the Gasoline Tax Fund and has been outstanding for 90 days.
(2) Step 1. When the warrant/check becomes stale-dated (90 days from issue date) a memorandum pay-in should be made to the expendable trust fund (later called agency) unclaimed moneys, post the warrant/check number, name of the payee and identify the money as unclaimed, to the cash journal and receipt ledger. The Finance Director should not reverse the original entry. The Finance Director can now remove the warrant/check from the list of outstanding warrants/checks.
(3) Step 2. If the rightful owner claims the unpaid money, a warrant/check in the amount of one hundred dollars ($100.00) will be paid from the Unclaimed Monies Fund. If the liability remains unclaimed for a period of five years from the date the money was placed in the Unclaimed Monies Fund, the money shall then be paid to the General Fund. If, after the five-year period the rightful owner claims the unpaid money, a warrant/check in the amount of one hundred dollars ($100.00) will be paid from the General Fund.
(Ord. 2017-106. Passed 11-15-17.)