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IV.PROCEDURE 1)To minimize the number of unclaimed checks, the payee will be notified in writing when a check remains unclaimed or uncashed for at least three (3) months for payroll and six (6) months for vendor checks. A certified letter will be sent once a year for up to three (3)years. A sample letter is attached in Exhibit I to facilitate the notification process. 2)Unclaimed money of $15 or more a)All payroll and vendor check payments of $15 or more that are outstanding and unclaimed by the payee for at least three consecutive years must be publicly advertised. (Government Code Secs. 50050 and 50051). This procedure provides formal notice to vendors or individuals of the existence of uncashed checks and allows them the opportunity to claim the funds. b) From the list provided by the Administrative Department, the City Clerk’s Office shall prepare and place a Notice of Unclaimed Property in the Los Altos Town Crier or other newspaper of general circulation published in the Town. The Notice shall state that the unclaimed funds will become the property of the Town of Los Altos Hills on a designated date not less than forty-five (45) days nor more than sixty (60) days after the first publication of the notice. The Notice will include the payee, amount and the disbursing fund. See Exhibit II (Gov. Code Sec. 50051) c)The City Clerk’s Office shall obtain a proof of publication from the newspaper to be retained as verification that the notice was placed in the publication and ran once per week for two consecutive weeks. d) At the end of the public notification period (45-60 days), any remaining unclaimed funds with face amounts of $15 or more will revert to the Town and shall return to the originating fund by resolution of the City Council. 3)Unclaimed funds less than $15 or unknown depositors a)Outstanding checks of less than $15, or any amount if the depositor’s name is unknown, will become the property of the Town of Los Altos Hills after being unclaimed for at least 12 months and shall return to the originating fund. This may occur without the necessity of a newspaper publication notice. (Gov. Code Sec. 50055). The funds will be transferred to the originating fund by resolution of the City Council (See Exhibit III). Resolution 31-20 Page 3