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Whittier Tech moves unclaimed class funds to education foundation, refers future policy to subcommittee
Summary
The committee voted to transfer roughly $10,000 of current unclaimed graduating-class funds (noted as largely from COVID years) to the Whittier Tech Educational Foundation and referred a policy for future unclaimed funds to the policy subcommittee.
The Whittier Tech School Committee on May 20 approved transferring current unclaimed graduating-class activity funds to the Whittier Tech Educational Foundation and asked the policy subcommittee to develop a protocol for future transfers.
Business manager Cara Cosmos told the committee auditors recommended routing unclaimed funds to the district's foundation so the money could be used for student hardships or scholarships rather than sit unused in a general student activity account. Cosmos said the account currently holds "over $10,000" largely stemming from COVID-era graduating classes; she reported the Class of 2020 balance at $6,315 and the Class of 2021 at $4,399.
"Rather than have it sit there unused, the suggestion was to put it somewhere where it could be used," Cosmos said, explaining the operational challenge of students not claiming funds years after graduation. Committee members asked whether the motion covered current unclaimed funds and the future policy; the motion was amended on the floor to transfer the current balances to the Whittier Tech Educational Foundation and refer future protocol to policy subcommittee.
By roll-call vote the committee approved the transfers and the referral. Chair Fitzgerald said the policy subcommittee will bring a recommended policy for future transfers for committee consideration.
