NEW HAVEN — A windfall of nearly $5,000 was received for the Town of New Haven Monday, when West Virginia State Treasurer Riley Moore presented the money in the form of a giant check.
Mayor Phil Serevicz received the funds during the town council meeting. Also present were Recorder Becky Benson, and council members Jessica Rickard, Steve Carpenter, Stephen Ohlinger, Jr., and Roy Dale Grimm. Councilman Colton McKinney was absent.
The check presentation was the first to a town by Treasurer Moore, and is part of a larger effort by him to raise awareness about unclaimed property in West Virginia. The $4,959.38 came mostly from a stale-dated check that had not been cashed. Moore said a field staff employee, Roger Hughes, who was also in attendance, found the money while going through the database for the region.
Unclaimed property can include financial accounts or items of value in which the owner has not initiated any activity for a number of years. Common examples of unclaimed property include unpaid life insurance benefits, forgotten bank accounts and unused rebate cards. When the entity overseeing these types of assets cannot locate the owner, the money or properties are submitted to the state.
While at the meeting, Moore introduced an additional recently hired field representative, David Tyson. The treasurer also spoke about the many services his office offers, including the Smart529 college savings accounts and investment opportunities for small towns.
Moore announced a new program that just recently passed in both the House of Delegates and State Senate that would open a tax-free savings account similar to the Smart529, but specifically for students wanting to enter trade or “blue collar” jobs. Moore said the funds could pay for things like tools and equipment needed for the job, as well as educational expenses.
“This is a good opportunity for West Virginia to lead and stand out,” Moore said of the program.
Finally, he urged those attending to search for their own possible unclaimed property. West Virginians searching for lost financial assets can visit www.WVTreasury.com and click on the unclaimed property search button on the homepage. They can also visit wv.findyourunclaimedproperty.com or call 800-642-8687.
(Some information from this story provided by a news release issued by the West Virginia State Treasurer’s Office.)
Mindy Kearns is a freelance writer for Ohio Valley Publishing, email her at email@example.com.