ORDNC-2026-1 : Acceptance of M.G.L. chapter 200A, Section 9A, relating to the disposition of unclaimed property by a city or town.

Transcript (~3 min @ 9:20)

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▶ 8:47 Maya Jamaleddine: Thank you, Councillor Garipay. So, um, this matter has expired in our committee and under our city council Rules of Order Rule 30. It has been placed back on the City Council's full agenda because of its expiration. No action can be taken on this order by the committee until if and when council sends this matter back to us for review and consideration. So at this time, this, um, uh, order will be sent back, uh, to the full council. Thank you. Um, uh, Councillor gpe. Next is ID number 12 79 4. Acceptance of MGL Chapter 200 a Section nine A, relating to that dispo disposition of unclaimed property by a city or town.

▶ 9:42 Maya Jamaleddine: Thank you for joining us tonight. The floor is yours.

▶ 9:48 Speaker 1: I'm hoping, this is just a housekeeping. I, um, I've been working with the auditor's office to refresh financial policies and go over our procedures, and although I found reference in the former CFO and former treasurer's documents that the city had adopted Section nine A of 200 A, I could find no evidence and neither could Shannon that a vote was actually taken. We, we have been acting under the law, which as actually is beneficial to the city to do. Uh, but I'm, I would like to just make it perfectly clear that we are by a vote.

▶ 10:27 Maya Jamaleddine: Thank you. I appreciate, um, you, uh, with the, with those reminders. Any question from my colleagues?

▶ 10:38 Maya Jamaleddine: Okay. I just have a question. Do you mind to, um, give us some update on anything that was impacted by this rule and, um, have been, how has it been any city?

▶ 10:50 Speaker 1: Sure. This was an amendment to the law, uh, that was put in several years ago now because art's been gone for five years. Uh, where prior to this, you have to go through a process every year to identify all the uncashed checks. And there's a series of steps that you need to take under the original portion of the law. Ultimately, the funds go back to it. They basically end up in unclaimed money. Yes. Um, fine mass money, whereas the new portion of the law remits it back to the general fund for our immediate use after very many steps to try to locate the people over a number of years. Okay. So that is the difference. It comes back to us rather than sitting in unclaimed funds at the state level.

▶ 11:39 Maya Jamaleddine: Awesome. And do we have any reports on, uh, the number that we had been? It's

▶ 11:47 Speaker 1: Very small. We, we do a pretty good job of, um,

▶ 11:54 Speaker 1: of tracking people down. I believe that in the footnote it said the last tailings, we had 50 on cash checks for a value of 68,000 approximately. And after we did the whole process to try to identify people, we only had about $4,000 over 26 checks left. So it's, it's nominal funds.

▶ 12:13 Maya Jamaleddine: Awesome. Awesome job on that. Thank you so much. Um, if there is, um, no other question, uh, do we, what is the will of the committee councilor, I make a

▶ 12:24 Speaker 1: Motion to recommend? Second,

▶ 12:26 Maya Jamaleddine: we have a motion to recommend made by Councilor Fero. Second. Seconded. Councilor Vandiver on discussion. Seeing none. All in favor? Aye. Any opposed?