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Council introduces ordinance to create clearing fund for unclaimed municipal payments
Summary
The City of Washington introduced Ordinance 8-2025 to create Fund 8978 in the Clerk-Treasurer's Office to hold unclaimed municipal payments before forwarding required amounts to the Indiana Attorney General; the ordinance had its first reading and will return for adoption at the next meeting.
The City of Washington common council held a first reading of Ordinance 8-2025, which would create a new municipal fund to manage unclaimed payments.
During the reading, the Presenter recited the ordinance's purpose: "Ordinance number 8 dash 20 25, an ordinance creating fund for Indiana unclaimed transactions." The text states that Indiana law requires the return of funds owed to individuals by municipalities and describes a process for notifying rightful owners and issuing replacement checks before forwarding funds to the state's attorney general if owners cannot be located.
Council members asked whether the requirement is new. A council member explained the operational steps: "If we can't find them, then we have to put them in this account and send them to the it's this is basically a clearing account." The chair told the council that, following the first reading, the ordinance "will be up for adoption in the next council meeting." No vote to adopt was taken at this meeting.
The ordinance text also identifies the Clerk-Treasurer's Office as responsible for creating Fund 8978 to effectuate the policy and legal requirements described in the ordinance.
