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Unclaimed Property

Purchasing and Payment Processing

View policy pdf: Unclaimed Property Policy

The University of Georgia is required to follow the guidelines for processing and reporting Unclaimed Property as outlined by the Board of Regents. 

The Board of Regents Business Procedures Manual: Section 19.1 Unclaimed Property constitutes the University’s policy. 

The Accounts Payable department is responsible for the monitoring and processing of Unclaimed Property for the University. 

Reason for Policy

The University of Georgia is required to report unclaimed funds and remit to the state with the owner’s last known address as shown on university records. If the owner’s name or address is unknown, the property is reportable to the state of Georgia. 

Record Retention
Research Grant Records Number 0472-09-006 
These records relate to funded research grant proposals and research activity associated with grant funded projects. Examples of records include supporting statistics, demographic data, draft proposals, suggested revisions, final proposals, forms, protocols, applications, research/activity reports, progress reports, and summary reports. 
Retention: Final research report is permanent. All other records: 7 years after the end of the grant period. 
Accounting Records Number 0472-03-001 
This series includes bank statements, purchase requests, purchase orders, requisitions, financial reports, accounts payable and receivable records, write-off records, discrepancy, payment schedules, operating statements, year-end projections, reconciliation and expenditure reports, cancelled checks, check stubs, moving expense records, cost accounting reports, refund/disbursement request records, returned checks, deposit slips, travel records, credit voucher requisition records, cash balances and reconciliations, sales and cash reconciliation records, journal entries, outstanding obligations, refund/disbursement requests, receipts and invoices. 
Retention: Monthly and quarterly reports: 1 year. All other records: 5 years. 


Responsible University Senior Administrator: Vice President for Finance & Administration

Responsible University Administrator: Associate Vice President - Finance Division

Policy Owner:  Accounts Payable

Policy Contact: Director Accounts Payable

Phone Number: 706-542-2786

Date Issued: 07/01/2018

Last Reviewed/Updated: