This week, the City of Philadelphia received an additional $417,552.81 in unclaimed property funds due to the City. Unclaimed property refers to funds and or other property owed to individuals or institutions that have been turned over to the Commonwealth of Pennsylvania due to a lack of action by the owner.
In May 2022, City Council passed Bill No. 220220, introduced by Councilmember Katherine Gilmore Richardson (At Large), which requires the Director of Finance to submit an annual report to City Council and the City Controller of all unclaimed property owed to the City, a status update regarding claims in process, and the total amount of revenue returned to the City of Philadelphia.
“Since 2022, we have successfully reclaimed nearly $14 million in unclaimed property—funds that are rightfully owed to the City of Philadelphia,” said Majority Leader Katherine Gilmore Richardson. “These recovered resources strengthen our ability to provide high-quality services to our residents and ensure that every available dollar is put to work for our communities. I am grateful to the Administration, City Treasurer Jacqueline Dunn, and her dedicated team for their continued partnership in this important effort. Today’s update is a clear indicator that our proactive and strategic approach to identifying and recovering funds on behalf of the City of Philadelphia is producing meaningful results.”
The Commonwealth of Pennsylvania is currently holding nearly $4 billion in unclaimed property. Philadelphia residents are encouraged to go to the Pennsylvania Treasury website to learn more and search for what they may be owed: https://www.patreasury.gov/unclaimed-property/
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Majority Leader Katherine Gilmore Richardson is the youngest person to be elected majority leader and the youngest Black woman ever elected to Philadelphia City Council. As an at-large
councilmember, she has championed issues such as advancing workforce development opportunities, protecting Philadelphia’s fiscal stability, uplifting working parents, addressing quality of life issues, and ensuring environmental justice and climate resiliency. Stay updated at PHLCouncil.com, on Facebook & Instagram @CouncilmemberKGR and on Twitter @CouncilwomanKGR.
