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Virginia Gas and Oil Board accepts quarterly escrow report, approves transfer of unclaimed funds to U.S. Treasury
Summary
The board received First Bank & Trust’s third‑quarter escrow report (July–Sept) showing an ending balance of $5,006,667.59 and voted to transfer $42,207.36 of unclaimed W‑9 funds to the U.S. Department of the Treasury, excluding two recent entries that remain active on the W‑9 list.
The Virginia Gas and Oil Board on Tuesday reviewed its July–September escrow report from First Bank & Trust and approved a staff recommendation to move a portion of older, unclaimed payments to the U.S. Department of the Treasury.
A bank representative told the board that the account began July 1 with $4,952,851.92, recorded $11,477.33 in deposits and $56,488.83 in money‑market and CD interest for the quarter, and closed September with a balance of $5,006,667.59. “We issued…
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