JOHNSTOWN, Pa. – Dale Borough has recovered $71,505.08 in unclaimed property.
The money was reported to the Pennsylvania Treasury Department as an account from 2019, according to a press release sent out by state Treasurer Stacy Garrity.
Brian Riffle, the borough’s treasurer, said the funds became unclaimed as a result of a “miscommunication” between the municipality and a local bank where Dale had a long-term certificate of deposit.
Riffle said his contact person left the bank. He speculates that a communication breakdown might have occurred when Dale was in the process of moving the location of its municipal offices.
“I was trying to track this money down because I thought the CD actually rolled over,” Riffle said. “Found out later that it didn’t roll over, and somehow (the bank) sent that money to the state.”
The borough can now use the recouped funds for its operations.
“These funds will definitely help Dale Borough with the budget challenges that we face,” Dale Mayor Ray Howard said in a released statement.
Howard credited state Rep. Frank Burns, D-East Taylor Township, for helping get the funds returned.
“I view my job as state representative to work with municipalities like Dale Borough to navigate state programs and resources,” Burns said. “When I learned of this unclaimed property, I immediately notified borough officials and dropped off the paperwork to file their claim. The $71,000 that’s being returned to them is not an insignificant amount and will certainly be put to good use in the borough.”
Garrity, a Republican who recently won re-election, made unclaimed property one of the focuses of her first term. Her office has returned $17.7 million to nearly 100 local government agencies.
Unclaimed property – for people, government agencies or businesses – can include uncashed checks, insurance policies, dormant bank accounts and safe deposit box contents.
“Part of being a fiscal watchdog is looking out for Pennsylvania taxpayers by returning unclaimed property to their local government agencies,” Garrity said. “Most unclaimed property belongs to individuals and businesses, but we’re also working to return funds to counties and municipalities, and this return to Dale Borough is a great example.”