California is Looking to use Lost Money to Fix Budget
Wednesday, September 29th, 2010The lost money pile in the State of California is growing at a rapid pace and currently ranks highest in terms of unclaimed funds value. In order to mitigate this problem and reduce the deficit, officials in the State treasury are sending more than 9,000 memos every week so that the owners of these funds can take the necessary steps to claim their money.
In spite of the various steps taken to reduce this unclaimed funds pile, the unclaimed checks from various state agencies continue to add to this unaccounted money pool. Like other states, California is also taking various measures utilizing different media to reduce this deficit, but not with a lot of success.