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Beloit business office flags 119 stale checks totaling about $7,500, plans outreach and DPI compliance
Summary
Business Office staff told the committee they found 119 outstanding checks (amounts from $0.50 to $2,000) dated across prior years totaling just under $7,500 and described plans to contact payees, follow DPI unclaimed property guidance, and reduce outstanding items.
District business staff told the Business Operations & Finance Committee on Feb. 4 that a review of disbursements found a number of old outstanding checks that require follow‑up.
Tom Chaney said a recent staffing reshuffle and an internal review identified 119 outstanding checks dated between earlier years and late 2023, with individual amounts ranging from 50 cents to $2,000 and a total value just under $7,500. Chaney said the district knows the payee for the $2,000 check and expects to follow up with that individual directly.
Chaney said the auditors advised the district about the Wisconsin unclaimed property process administered by the Wisconsin Department of Revenue. He told the committee that state rules allow a municipality to remit stale or unclaimed property to the state only when an item is five years old or older; for newer items the district must continue active efforts to reunite funds with rightful owners.
He described outreach options used previously in another district: reissuing payments if the owner provides current bank or mailing information; offering the payee the option to direct a small outstanding amount to student supports (for districts that charge for meals); or donating to an internal ‘angel’ fund. Chaney said some of those options may not be directly applicable in Beloit because of district program specifics (for example, most students receive free meals), but the district will adapt outreach options.
Committee members suggested stop‑payment and accounting approaches to clean the ledger; Chaney noted stop‑payment fees sometimes exceed the smallest outstanding checks and described plans to prioritize contact and reconciliation rather than immediate stop‑payments. The business office said it may not finish clearing all outstanding items by June but will make progress.
What this means: The district will launch direct outreach and reconciliation efforts to contact payees and reduce outstanding checks. Staff will follow Wisconsin Department of Revenue rules for unclaimed property for checks older than five years and continue efforts for more recent items.
