Over $100,000 Back in City Coffers Over Past Year
Trenton N.J. – Mayor Reed Gusciora announced today the reclamation of over $100,000 of funds from the State of New Jersey in the past year. The money was previously left unclaimed by prior administrations.
The funds were being held by the NJ Department of Treasury, in their Unclaimed Property Administration. Tracing all the way back to 2006, the funds are mostly from insurance companies, banks, and other creditors to the City who did not know where to deposit the money owed.
“People who owe the City money don’t always get it to the right department and when not cashed, it reverts to the state.” Said Mayor Gusciora. “Following-up with the Treasury is all part of diligent bookkeeping. In a City like Trenton, we need to find money wherever we can.”
Reclaiming the money took City attorneys almost a year. In April of 2019 the City discovered a check for $52,000 in a legal file with money’s dating back over a decade. Most recently, through a search of State records, Trenton discovered another unclaimed check to the order of $54,000. The State Treasury had to determine whether the funds could be released.
“Now that we’ve gotten back this cash, it will go back the general fund.” Continued Gusciora, “We will not let any Trentonian’s hard-earned money go to waste in the State’s reserves. We are taking what is due to our community.
These funds go on top of the tens of millions of dollars raised by the Gusciora Administration through grant funding and proven fiscal practices. City Attorneys will continue to petition for moneys owed to the Capital City.
PRESS CONTACT: Connor S. Ilchert
Office: (609) 989-3047
Cell: (609) 575-1880