This is a term frequently used to describe checks made payable to the University of Michigan from a variety of sources that have been turned in (escheated to) the State of Michigan because they have not been cashed.
The State of Michigan attempts to identify the recipient by posting the payees name on their website (http://www.michigan.gov/treasury) and periodically advertising in local papers.
The Treasurer’s Office routinely reviews this website for a University of Michigan affiliation as payee and submits a request to the state to issue a check to the university. This is a lengthy process and the listing will remain on the website until this check is issued.
University departments should not contact or attempt to submit a claim directly to the Michigan Department of Treasury. Any inquiries regarding unclaimed property should be submitted to the Treasurer’s Office, Kelley Thomas, (734) 763-3150 (firstname.lastname@example.org).
Inquires concerning checks that the university has issued, but have not been cashed should be directed to Financial Operations – Banking Services (email@example.com).