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Sunday, July 14, 2019

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Unclaimed Property Program Returns Money To Businesses

Unclaimed Property Program Returns Money To Businesses

The Louisiana Department of the Treasury's Unclaimed Property Program returned more than $16 million last year to businesses, according to State Treasurer John Kennedy.

"I encourage businesses to check our Unclaimed Property database regularly," said Treasurer Kennedy. "We don't just return money to individuals. We paid 2,146 claims filed by businesses in 2014."

The Unclaimed Property program returned $300,000 this month to Ochsner Health System. The program writes checks to businesses throughout the year.

"Ochsner Health System regularly monitors Louisiana's Department of Treasury website to ensure that we account for all payments we are scheduled to receive. We believe that it is part of our fiscal responsibility to be proactive so we can continue to invest in high quality patient care services and technology to better serve the community," said Scott Posecai, executive vice president and chief financial officer for Ochsner Health System.

The Louisiana Treasury is holding more than $635 million in Unclaimed Property. Unclaimed Property is lost money that is turned over to the state from a variety of sources, including payroll checks, old bank accounts, royalties, utility deposits, interest payments, stock certificates and life insurance proceeds.