The Check Is In (or for) the Mail
The Inspector General of the U.S. Post Office has an audit program to collect unclaimed funds held by state governments for the benefit of the postal service. The purpose of the audit is to “to determine whether the postal service efficiently and effectively collects unclaimed funds held by state treasuries.” If the postal service is like most companies, the answer is probably not, but we wish them luck. The audit description also contains some tips for postal service employees to prevent funds from going unclaimed. They are good suggestions for any company:
1. Deposit checks without delay
2. Be responsive to refunds
3. Respond to notices from holders of property
4. Respond to requests for confirmation of account balances
5. Instruct customers to make checks payable to “US Postal Service”
(On second thought, you might want to skip this last one unless you’re the post office).