Latest news with #UnclaimedFunds
Yahoo
2 days ago
- Business
- Yahoo
Confronting county leader on claims about unclaimed funds for Browns: I-Team
CLEVELAND (WJW) — The FOX 8 I-Team is now taking hard questions to a local leader after his latest claims about unclaimed funds to help the Browns build a dome. Cuyahoga County Executive Chris Ronanye calls it picking your pocket. Monday, the I-Team questioned the county executive. State lawmakers may help the Browns build a dome in Brook Park with $600 million from the Unclaimed Funds Account. The Browns would pay back that money. Watch: Residents called 911 for hours about crowds filling streets — where was Cleveland police? Chris Ronayne believes giving that money to the Browns would be unfair to taxpayers. But, the I-Team discovered state lawmakers have often raided that fund for big money to balance the budget. And, while the Browns would pay back that money from unclaimed funds, state lawmakers have not paid back money taken out of the same account. Sometimes, hundreds of millions of dollars at once. We asked Ronayne questions about lawmakers not paying the money back, yet he's opposed to money from the same fund for the Browns which would be paid back. He kept resorting to telling citizens to check and see if they have any money in the account and talking about how the Browns plan for a dome would hurt downtown Cleveland. Chris Ronayne also said, 'We have said, over and over, again, this proposal by the Cleveland Browns is, too, risky.' The I-Team also found, back in 2018, Cuyahoga County leaders took $7 million out of a local unclaimed funds account. So, we asked if county leaders ever paid that back. Ronayne reminded us, that happened before he took office. 'You'd have to look further,' he said. 'You'd have to look back on what prior administrations did.'Last week, Browns Chief Operating Officer Dave Jenkins said, 'I think we've been pretty clear since the outset that it's going to take a public-private partnership to enable this project.' The Browns argue they'd put more than a billion dollars into the dome, and, again, pay back any state funds. State leaders are kicking around three plans to help the Browns with public money. That includes using unclaimed funds. Senate leaders promise, even if the Browns get unclaimed funds, when you go on-line to apply for your money, you'll also get yours. 'I think the State of Ohio has to find a different solution than unclaimed funds,' Ronayne added. When we asked state officials about lawmakers repaying the unclaimed funds, we received this response from a spokesperson with the Office of Budget and Management: Any payment from a state fund, including the General Revenue Fund, to Unclaimed Funds would require an authorizing appropriation from the General Assembly. Such appropriations have generally not occurred. For example, the budget bills mentioned (last week) that directed transfers from Unclaimed Funds to the state GRF (general fund) did not include appropriations from the GRF (general fund) to make payments back to Unclaimed Funds. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
04-04-2025
- Business
- Yahoo
Ohio unveils new system for unclaimed funds
(WKBN) – The Ohio Department of Commerce's Division of Unclaimed Funds has unveiled a new system aimed at making it easier and faster for Ohioans to search for and recover unclaimed funds. Now, Ohioans can search for and claim funds directly on the website, as well as track their claims, without having to leave the platform. According to the Department of Commerce, the state has $4.8 billion in unclaimed funds, coming from sources like dormant bank accounts, uncashed checks, stocks and bonds, utility deposits or unclaimed wages. Since unclaimed funds never expire, the Division safeguards them indefinitely until claimed. The updates also allow business owners or holders (those who report unclaimed funds to the Division) to create and file their reports directly from the system instead of having to log in to the Ohio Business Gateway. Businesses are able to upload their National Association of Unclaimed Property Administrators (NAUPA) file, create a manual report, remit funds, and even submit a negative report. All businesses are required to report their unclaimed funds to the Division even if there are none to report. Division Superintendent Akil Hardy says these upgrades are in response to feedback provided by consumers and businesses. 'One of our primary goals in implementing this technology is to be more transparent by sharing where claims are in the process. We paid out $149 million last year to Ohioans and look forward to increasing that number with our new system,' Hardy said. Learn more on the Ohio Department of Commerce's Unclaimed Funds website. The Division will also be hosting free webinars and live demonstrations about the system: Business Owners Webinar – Wednesday, April 9, from Noon to 1 p.m. Click here to register. Facebook Live Demo for Claimants – Thursday, April 10, at 10 a.m. Live LinkedIn Demo for Business Owners – Thursday, April 10, at 10:30 a.m. Consumer Webinar with the BBB – Wednesday, April 16, from 10 to 11 a.m. Click here to register. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
