A report released Tuesday from the state auditor’s office found that the Land Court failed to submit $123,825 to the abandoned property division.

The money was held in escrow for more than three years after the cases were completed and was not declared abandoned and remitted to office of the state treasurer’s Abandoned Property Division (APD) as required.

The auditor’s office recommended the money be turned over to the APD and that Land Court ensure that staff handling these funds knows the laws and policies that govern them. In the report, the auditee states that the money was turned over the treasurer’s office and the polices have been reviewed with staff.

The report also found that Land Court did not use competitive bidding or agreements to procure and manage photocopy vending services. The auditor’s office recommended that it do so and amend the contract with the vendor to provide better protection for the Land Court. In the report, the auditee states a competitive bidding process will occur, but did not specify when.

Land Court Fails To Turn Over Nearly $124K To Abandoned Property Division

by Banker & Tradesman time to read: 1 min
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