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MONEYED INTEREST.(unclaimed funds in Ohio)(Brief Article)(Statistical Data Included)
Inside Business, October, 2001 by ZAWACKI, MICHAEL
You know that delightful feeling I when you find a forgotten $20 bill in the pocket of your jeans? More than 30,000 Ohioans had that same feeling over the last year when they discovered that the state was holding their unclaimed funds.
The Ohio Department of Unclaimed Funds (ODUF) recently announced fiscal 2001 as a record-breaking year -- it paid out the highest number of claims (30,076) for the highest dollar value ($28 million) and took in the highest dollar value in funds (nearly $101 million).
Businesses and organizations must report unclaimed funds to the state when they can't locate the rightful owner of monies from dormant checking and savings accounts, forgotten deposits and uncashed insurance policies, for instance.
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