August 7, 2008
DiNapoli Delivers $6,112 in Unclaimed Funds
to Roswell Park Cancer Institute
More Than $61.5 Million Owed to People and Businesses in Erie County
State Comptroller Thomas P. DiNapoli today presented a check for $6,112.45 to Roswell Park Cancer Institute Executive Vice President Jeffrey Walker for unclaimed funds held in the cancer institute’s name.
“We searched our unclaimed funds database and found more than $6,000 that belongs to Roswell Park Cancer Institute,” DiNapoli said. “Today, we’re giving back this money. Every New Yorker should visit our website or call my office to find out if we’re holding money that belongs to them. More than $61.5 million is owed to people, non-profits and businesses in Erie County.”
Under state law, insurance companies, utilities, investment companies and other businesses are required to turn over money in inactive accounts to the state. DiNapoli’s office administers the state’s unclaimed funds.
Since DiNapoli took office, he has stepped up efforts to spread the word about the $9 billion in unclaimed funds that the state is holding. Staff members from DiNapoli’s unclaimed funds division travel the state and set up shop at dozens of community events each year where people can find out if they are owed funds. In addition, DiNapoli’s office now publicizes these events each month.
New York’s unclaimed funds total more than $9 billion in more than 23 million accounts. Most of the accounts are held by individuals who can search for funds online at www.osc.state.ny.us or by calling (800) 221-9311. DiNapoli’s office is holding $61.5 million in 328,700 accounts for individuals, businesses and governments in Erie County.
DiNapoli also stressed that there is no fee involved in claiming unclaimed funds, and that companies that offer to help individuals find unclaimed funds do not have any faster or better access to the funds held by the Office of the State Comptroller.