Unclaimed Warrants / Unclaimed Funds
Stale Dated Warrants
The Inyo County Board of Education recognizes the need to establish procedures addressing unclaimed warrants in accordance with law, Board policy, and administrative regulation. The unclaimed warrant policy will be established based on Government Code 50050-50057.
Inyo County Superintendent of Schools stale dates warrants that remain outstanding after a period of 180 days. Funds from unclaimed warrants for all Districts and Charter Schools will be held in a specified fund set up for only these outstanding stale dated warrants. Stale dated warrants will be reviewed and addressed on a quarterly basis. This process will include a notification be sent to the payee of any stale dated warrant initiating the opportunity for the payee to have the warrant reissued.
If warrant remains outstanding in excess of three years after it becomes stale, ICSOS will publish the unclaimed property in a newspaper for two successive weeks. This notice will include, to whom it was issued, the amount issued by the County Treasury, and the fund in which it is held. It will also include a time limit for making a valid claim which must be at least 45 days but no longer than 60 days from the day which the publication first ran. If the property remains unclaimed after that time, it will become property of Inyo County Superintendent of Schools, and be transferred back to the district to which the money was originally paid out of. If the money was drawn from a restricted fund it may be transferred to the general fund. (Government code 50050-50053)