CBS12 Investigates found more than a million dollars owed to local government
WEST PALM BEACH, Fla. (CBS12) —
It is a revenue source that people are not talking about - the state has billions of dollars in unclaimed money.
It's money from businesses that couldn't find you to repay you.
CBS12 News Investigates found it's not just owed to people, it's owed to local governments too -like city halls, the tax assessors and the county commissions.
So, why doesn't the state just give the local governments their money?
Local leaders like Palm Beach county commissioner Hal Valeche said he had no idea public funds were owed to them until we got involved, "They know where we are. It is not like we left the state or changed our address."
It the state knows which local government should get the money, then what's the problem?
We asked the state's Chief Financial Officer Jimmy Patronis if they know the county's number and address, why don't he just give the county the money?
He responded, " We have to have the proper documentation to do it."
It turns out the state makes money on the unclaimed funds. Find out how, Tuesday night after NCIS New Orleans on CBS12 News at 11.