HomeMy WebLinkAboutPolicies - FairgroundsTuesday, February 25, 2020
To: Board of County Commissioners
Re: Consent to use surplus WSDA Premium grant
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rant County Fairgrounds
3953 Airway Ur NE
Moses take WA 98837-1029
(509) 765-3581
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Dated this-- — day of 20
Board of County Commissioners
Grant County, Washington
Approve
Qs�1Disapprove Abstain
Dist # 1
_ Dist # I _
Ui'.Dist # 2 Dist # 2
ttrtds'FDist # 3 Dist # 3
Per RCW 63.29.020, premiums issued to exhibitors that are not cashed are not subject to the
unclaimed property laws of Washington State. Many Fairs put these unclaimed funds back into
their coffers after a period of 90 days to 6 months and use the funds to spend on other Fair
related items. Currently, these funds do not get re -allocated for Grant County and
subsequently, we have a number of unclaimed premium checks outstanding. The checks used
to issue premiums have a notation on the face that the check is void after 180 days.
I would like authorization for the following policy regarding unclaimed Fair premiums for
Exhibitors:
Fair premiums will be held for 180 days (the face of the check will state that the check is void
after 180 days). We will attempt to notify the exhibitor of the outstanding check via letter at
the last available address after 180 days have passed. If the exhibitor notifies us that they have
lost the check and requests a replacement, we will issue a replacement check. If there is no
contact with the exhibitor, we will then hold the check for another 185 days in the event that
an exhibitor attempts to cash the check and to ensure that funds are not withheld from an
exhibitor.
After the funds have been held for one year and remain unclaimed, the check will be voided
and the funds will be available in Washington Federal to purchase Fair prizes/ribbons for the
following year's Fair. The Fair premium account balance is currently $8,820.24, which includes
$5,355.26 of unclaimed premium checks. If the available balance of this fund increases above
$5,000.00 due to unclaimed premiums being returned to the fund, we will deposit with the
Grant County Treasurer any amount above $5,000.00 as Miscellaneous Revenue for the Fair.
nk y�u for your consideration
Sincerely,
Jim McKiernan, Director
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FEB 2 8 2020
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