Unclaimed Property
Lackland ISD is required to report unclaimed property to the Texas Comptroller for items greater than $100. For items less than $100, LISD is required to track and post these items so that they may be claimed by the rightful owner. Below you will find some information from the Texas Comptroller’s website. For additional information, click here to go to Texas Comptroller’s Unclaimed Property.
Lackland ISD Unclaimed Property Spreadsheet
What is unclaimed property for Lackland ISD?
Unclaimed Property can be any financial asset that appears to have been abandoned by the owner for three years or more for Accounts Payable or one year for Payroll.
Examples:
Uncashed payroll checks
Uncashed accounts payable checks
Questions about Unclaimed Property should be directed to the Finance Coordinator at 210-357-5008.
Why is it reported to the State?
The unclaimed property law, originally passed by the Texas Legislature in 1961, requires financial institutions, businesses, and government entities to report to the state, personal property they are holding that is considered abandoned or unclaimed.
The Texas Comptroller of Public Accounts is responsible for administering the Texas Unclaimed Property Program. Property is turned over to the Comptroller’s office annually when the owner’s whereabouts are unknown, and the property has been inactive on the books of the reporting company for between one and three years.
Unclaimed Property Statutes
Chapters 72 through 75 of the Texas Property Code govern the State of Texas Unclaimed Property Program. To view the statutes applying to the abandonment of property, property held by financial institutions, report delivery and claim process, or Texas minerals, go to the Texas Property Code linked here.
The Chapter that applies to Lackland ISD is Chapter 76 of the Texas Property Code. Chapter 76 governs the Texas county, municipality, and independent school district (ISD) programs. To view the statute applying to the report, delivery, and claims process for properties held at the county, municipality, and ISD level, go to the Texas Property Code, Title 6 linked here.