Georgia announces $105 million unclaimed funds to be added to Treasury
The Georgia Department of Labor announced Monday that more than $105 million in unremitted funds were moving to the state’s Treasury.
Labor Commissioner Bruce Thompson said the funds have been uncovered during an internal audit of GDOL, which discovered the funds had been building up unclaimed since 2014 under the leadership of former Labor Commissioner Mark Butler.
On Aug. 3, Thompson had the funds transferred to the Georgia Department of Treasury.
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In the announcement, Thompson’s office said the discovery of the $105,170,128.20 comes as he continues efforts to investigate fraud and unemployment insurance system vulnerabilities.
Following the disclosure that millions had gone unremitted for nearly 10 years, Thompson said he’ll be holding a briefing on Thursday at the state capital to discuss the uncovered funds and answer questions about the process.
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As far as the unremitted funds themselves, they’re collected from a variety of people and places, but essentially, they’re overpayments on collections that had been intended to pay out unemployment claims or other expenses but have not been used.
The exact nature of what the funds were meant for was not clear in the announcement but with Thursday’s scheduled news conference, more information may come to light on how the funds will be used, and where they should have gone over the past nearly 10 years.
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