THE MONEY TRAIL
Hard-hit universities have plenty of unclaimed assets
Facing deep funding cuts, California's public universities can look to an obvious reserve for a little extra change: unclaimed assets.
When any financial asset goes unclaimed by the owner for three years or more, state law requires holders of those properties to deliver them to the state. Sometimes owners forget about the property or holders might just have an invalid address to return funds.
A database on the state controller's Web site allows citizens, along with public and private organizations, to search for any unclaimed property under their name.
The database showed 61 unclaimed properties belonging to the University of California regents. The properties include $40,569.49 in cashier checks, credit balances, insurance claim checks, along with 175 shares of Comcast cable company.
Dozens of other properties have gone unclaimed by individual campuses, various departments within the schools and student and alumni groups.
UC spokesman Trey Davis said the university is "well aware of these properties" and works with a consulting firm submitting claims to collect unclaimed properties about once a month.
The university has collected more than $2.1 million in unclaimed properties through the database over the last two years, Davis said.
California State University appears less proactive.
CSU spokeswoman Clara Potes-Fellow said the university system's finance department was reaching out to its campuses about the unclaimed property, after a Public Eye inquiry. "We're working with the campuses to make sure they take care of that."
CSU campuses and the chancellor's office showed 19 unclaimed properties, including vendor checks and refunds, totaling $9,305.88. Multiple other properties have gone unclaimed by CSU student groups and other university organizations.
To see if you have property that's gone unclaimed, go to http://scoweb.sco.ca.gov/UCP/
– Robert Faturechi Send tips to moneytrail@sacbee.com
FIX THIS
Unpainted curbs prove challenging to motorists
The problem: A reader told Public Eye that at Bradshaw and Gerber roads, new asphalt curbs installed at the corners to protect pedestrians were not painted.
The unpainted curbs were not visible in the dark, leading some motorists to drive over them, scraping the bottom of vehicles.
"All they need is some reflective paint," said Wilbur Gage, who works at a tire store at the intersection.
The response: As part of a huge pipeline project being built nearby, crews installed the curbs but forgot to paint them.
Recently, Dan Regan, Sacramento County Transportation Department spokesman, said the curbs would be painted when the weather improved. On Wednesday, the curbs were painted white.
– Bill Lindelof Neighborhood eyesore? Safety issue? Send tips to fixthis@sacbee.com
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