Philadelphia's City Controller Christy Brady announced a notable financial cleanup, as the city transferred over $2 million worth of uncashed checks to the state's treasury, an audit report revealed a major move intended to resolve a backlog of unclaimed funds making it possible for individuals and businesses to recover what they're owed, the city's treasury department has been busy clearing the books, and now there's a treasure trove of unclaimed cash at the Pennsylvania Treasury's doorstep, thanks to this recent initiative.
Those uncashed checks, discovered during the city's latest audit on internal controls over financial reporting, span several years and include monies due to ex-employees, various vendors, and even election workers who need only to lay claim to their forgotten funds. According to the audit report, some of these checks date back to 2017, and city officials are encouraging everyone who's had dealings with the city to hightail it over to the Pennsylvania Treasury's website and see if any of that money has their name on it. According to information obtained by the Controller's official site, "The Philadelphia Treasurer’s Office made significant progress over the last couple of years to address its unclaimed funds backlog," Brady pointed out in her statement on the findings.
As the city works toward greater fiscal transparency and accountability, the Controller's Office continues to rectify its past mishandlings by dealing with the remaining portion of unclaimed funds, which sits at about $350,000. Brady, in the same breath, emphasized the importance of the issue, having been a thorn in the city's side for several audit cycles now, the progress is "very encouraging," as stated in a report available on the city controller's website.
For Philadelphians hopeful for a bit of financial serendipity, the unclaimed property might just be waiting, with the Pennsylvania Treasury Department noting that one in every ten state residents has unclaimed property, and with average claims rounding out at about $1,600, there's reason enough to check, and who knows, you might just find a little bit more than pocket change with your name on it.
