Tennessee Treasurer Returns Over $21K in Unclaimed Property to City of Franklin

Tennessee Treasurer Returns Over $21K in Unclaimed Property to City of Franklin

State Senator Jack Johnson, Representative Glen Casada, and Representative Sam Whitson joined State Treasurer David H. Lillard, Jr. to return $21,819.21 in Unclaimed Property to Mayor Ken Moore on behalf of the City of Franklin government.

Unclaimed property is money turned over to the State by businesses and organizations that were unable to locate the rightful owner. The Unclaimed Property Division is a consumer protection program of the Tennessee Department of Treasury that works to reunite the millions of missing dollars turned over every year with its rightful owners. Each year, businesses turn over thousands of unclaimed properties to the State. Last year, there were more than 1.8 million pieces of property turned over from businesses.

The money returned to the City of Franklin represents 68 unclaimed properties, which included vendor checks, accounts receivable credit balances, expense checks, insurance premium refunds, insurance benefits, cashier’s checks, and escrow funds. These funds were turned over to the State during the past year.

“Franklin is excited to receive this check from the Unclaimed Property Division,” said Mayor Moore. “In these tight times, with tight budgets, and the COVID-19 pandemic, this will go a long way to help our city provide great services to our constituents.”

Legislation passed by the General Assembly in 2017 allows for greater efficiency in reporting and returning unclaimed property to Tennesseans. Included in this law is a provision Treasurer Lillard is particularly proud of, allowing his office to return missing money to local governments and Tennessee schools without requiring them to file a claim.

“One of the things I really enjoy about being a State Representative is finding ways to help our communities with things just like this – whether it’s a grant, or finding unclaimed property, we are helping our communities move forward,” said Representative Glen Casada.

“The General Assembly is proud to support our State Treasury and their efforts to return unclaimed funds to Tennesseans,” said Senator Jack Johnson, of Franklin. “It takes only a few minutes to check the Tennessee Department of Treasury’s Unclaimed Property website to see if you have any unclaimed funds, and we encourage all of our constituents to search their name.”

“I am grateful to Senator Jack Johnson, Representative Casada, and Representative Whitson for supporting the Unclaimed Property program, giving Treasury the ability to proactively put money back into the hands of local governments and schools,” Treasurer Lillard said. “The support of these legislators has allowed us to increase efficiency and return more money to your communities.”

“We appreciate the work Treasury and our State Treasurer does for our entire State, and especially Williamson County.” said Representative Sam Whitson. “This is another great example of how our State can support our local cities.”

The Unclaimed Property Division returned over 59,000 claims, totaling $62.5 million, to the rightful owners during fiscal year 2020. As of June 30, 2020, there is over $1 billion waiting to be claimed. There is more than $22 million waiting to be claimed by those who live in Williamson County.

Anyone can see if they are owed any missing money by searching their name at ClaimItTN.gov, and may file a claim online if they find unclaimed property belonging to them.