Treasurer McCord Reunites Erie City School District with Over $20,000 in Unclaimed Property; Says More Awaits Other Schools, Districts Across PA

More than $650,000 waiting to be claimed by 473 schools or school districts

ERIE, Pa., June 22, 2011 /PRNewswire-USNewswire/ -- Pennsylvania Treasurer Rob McCord – seeking to reunite more than $650,000 in unclaimed property with the state's K-12 schools – visited the Erie City School District today to return over $20,000 to administrators there, and he said the returned money should be used to help preserve educational opportunities in challenging economic times.

Treasurer McCord said, in total, 473 schools or school districts across the state are owed at least $250 in unclaimed property.  More than a quarter of those entities are due between $1,000 and $10,000. 

"Pennsylvania schools have an important mission – to educate tomorrow's citizens and leaders," Treasurer McCord said.  "At a time when public education is receiving less funding, it's important that schools get access to resources in ways that don't raise taxes or debt, and Treasury's unclaimed property program does that.  We want to help schools – and Pennsylvanians generally – put money that is rightfully owed to them back in their budgets.  This won't entirely fill the gaps created by budget, but it will help."

Treasurer McCord said the $20,125 being returned to the Erie City School District approximately equals the total amount 17 average homeowners in the district pay in property taxes each year.

The types of property waiting to be reunited with schools and school districts include unclaimed accounts payable, credit balances, refunds, bank accounts, and uncashed checks.  Those owed unclaimed property often do not realize the property has become dormant because holders are not required by law to contact the owner before remitting the lost property to Treasury. 

"Under Pennsylvania's unclaimed property law, businesses, financial institutions, and other organizations are continuously turning over unclaimed property to Treasury," Treasurer McCord said.  "It's a common misconception that only individuals have unclaimed property waiting for them.  We actually have a great deal that is owed to schools, businesses, child care centers, fire departments and other nonprofit organizations. So regardless of who you are or what institutions you represent, you may gain simply by checking our free online database at patreasury.org to see if there's property owed to you!" 

The McCord Treasury has returned nearly $228 million in unclaimed property to rightful owners since January 2009. In fiscal year 2009-10 – the Treasurer's first full fiscal year in office – the McCord Treasury increased unclaimed property collections by 25%, which helped to generate $115 million in revenue for the Commonwealth's General Fund, or 62% more than the prior fiscal year.

Generally speaking, unclaimed property is any financial asset that has been left with a business or organization without activity or contact for at least one year, including:  bank accounts, uncashed payroll checks, accounts payable or receivable checks, credit balances, expired gift cards, savings and checking accounts, escrow accounts, money orders, travelers checks, utility refunds, insurance proceeds, stocks and bonds, and the contents of safe deposit boxes.

Treasury is seeking the owners of $1.8 billion in unclaimed property. To search and claim unclaimed property, go to www.patreasury.org. Users may also call 1-800-222-2046 Monday through Friday, 7:30 a.m. to 4:30 p.m., or email [email protected].  The Treasury Return Team is available for free to assist with searches, as property may be listed under an incomplete or misspelled name. 

EDITOR'S NOTE: Below find a sampling of schools and school districts with unclaimed property grouped by media market.  For more information or to discover if a school not listed has unclaimed property, please call (717) 787-2991.

Greater Philadelphia

Gloucester Public School District

Family Charter School

Avon Grove School District

William Penn Charter School

Coatesville Area School District

Bensalem School District

Marple Newtown School District

Charles Ellis School

Springfield Township School District

Germantown High School

Upper Dublin School District

Bryn Athyn Area School District  

Pickett Middle School

Chester Upland School District

Methacton School District

Plymouth Whitemarsh High School

Central Bucks Detwhiler School District

Milton Boverman School

Welsh Valley Middle School

Neshaminy High School

Northeast Pennsylvania

Lynn School District

Delaware Valley School District

Wallenpaupack School District

Lakeland School District

Pocono School of Excellence

Danville Area School District

Elimsport Elementary School

Central Pennsylvania

Greater Johnstown School District

Central Cambria School District

Glendale School District

Johnstown High School

South Hills Business School

Juniata Valley School District

Rockwood Area School District

Penn Valley Area School District

Fulton County School

Curwensville School District

Bedford High School

Austin Area School District

Punxsutawney Area School District

Lehigh Valley

Allentown Business School

Saucon Valley School District

Allentown Central Catholic High School

Marvine Elementary School

Eastern Area School District

Greater Pittsburgh

Elizabeth Forward School District

South Fayette Township School District

Allegheny Valley School District

Uniontown Area School District

Moon Township Area School

School District of Pittsburgh

Bethel Park School District

Mt Lebanon School District

D.E. Williams Middle School

Johnston Elementary School

Ringgold School District

Wilkensburg School District (misspelled in database as reported)

Shaler Area School District

Highlands School District

North Hills School District

Slippery Rock School District

Riverside High School

Penn Trafford School District

Hempfield Area School District

Big Beaver Falls School District

Northwest Pennsylvania

Cambridge High School

Warren Area Schools

Iroquois Jr./Sr. High School

North Clarion County School District

Madison County School District

Randolf East Mead School District

McKingley Elementary School

Susquehanna Valley

Lewisburg Area School District

Reading School District

Manheim Central School District

East Pennsboro School District

Dover Area School District

Panther Valley High School

William Valley School District

Pottsville Area School District

Kennard Dale High School

Big Spring School District

Solanco School District

Eastern York School District

Boyertown Area School District

Waynesboro School District

Littlestown Area School District

Tuscarora Area School District

Mechanicsburg Area School District

SOURCE Pennsylvania Treasury Department