- State Treasurer Dale R. Folwell, CPA, will splash a little green in the Blue Ridge Mountains at 10:30 a.m. Tuesday, Aug. 23, when he returns missing money to Biltmore Forest as part of his continuing efforts to highlight the Department of State Treasurer's (DST) Unclaimed Property Division (UPD).
Biltmore Forest is one stop on the treasurer's visit to Buncombe County. He also will be presenting at the N.C. Association of Municipal Clerks' Summer Academy at Renaissance Asheville Downtown Hotel at 1:30 p.m.
Media attending Friday's check presentation in Biltmore Forest will have an opportunity to ask Treasurer Folwell about NCCash.com. That is the repository for 17.6 million properties valued at $1.02 billion under DST's custody awaiting return to the rightful owners. The treasurer also will field questions on other issues of interest during the event, which is open to the public.
Biltmore Forest is recognized as the second wealthiest community per capita in North Carolina. Mayor George F. Goosmann III will be on hand to answer any questions about the Buncombe County municipality and its operations, and town commissioners also are expected to be in attendance.
The treasurer will present a check for $806.73 to the mayor. UPD staff discovered the money during routine reviews of data in the system. They determined it belonged to Biltmore Forest, but had been diverted to the state's escheats fund, maintained by DST.
For the just completed fiscal year through June 30, UPD paid a record-breaking 178,857 claims totaling more than $105.1 million from NCCash. Part of that total has been disbursed through the new NCCash Match program, a no-hassle, expedited system that eliminates paperwork processing. For the same time period, DST paid 102,157 claims totaling about $35.3 million.
Under state law, UPD receives and safeguards funds that are escheated, or turned over, to DST. The unclaimed property consists of bank accounts, wages, utility deposits, insurance policy proceeds, stocks, bonds and contents of safe deposit boxes that have been abandoned. More information, including how to find out if you are owed money, can be found at https://www.nccash.com/