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Business office identifies 119 outstanding checks, plans outreach before state unclaimed-property filing
Summary
District business staff told the committee it has identified 119 outstanding checks dated between 2013 and 2023 totaling just under $7,500 and described efforts to contact payees before the Wisconsin unclaimed property process applies to items five years or older.
District business-office staff told the Business Operations and Finance Committee they have identified 119 outstanding checks, dated between Aug. 13, 2013 and Dec. 27, 2023, with amounts ranging from $0.50 to $2,000 and a total value just under $7,500.
Staff said they have discussed the matter with the district’s auditors and reviewed guidance from the Wisconsin Department of Revenue on unclaimed property. State rules allow municipalities and other holders to remit items to the state only when the items are five years or older; newer outstanding items must remain the district’s responsibility and require active attempt to reunite funds with rightful owners, staff said.
The business office described a previous process used in another district: make direct contact with payees, offer (1) reissue of payment with current mailing or ACH instructions, (2) the ability to designate the owed funds to another student (for example, for school fees or meal support), or (3) an option to donate the funds to a school support pool. Staff said some options used elsewhere (for instance, meal‑support donations) may not translate to Beloit because the district already provides universal free meals.
Committee members discussed stop-payment fees and bank procedures for very old checks, and the business office said it will attempt targeted outreach and expects to reduce the list though it may not eliminate it by June. Staff described the outstanding items as a bookkeeping cleanup item tied in part to recent staffing and responsibilities changes in the business office.
Ending: Staff said they will begin outreach to identified payees, continue coordination with auditors, and follow Wisconsin Department of Revenue procedures for remitting items older than five years if owners cannot be located.
