Office of Budget and Finance

Unclaimed Property (Including Lost & Found)

OBJECTIVE:

To provide guidance to the Knoxville campus on where to take unclaimed property, including “lost and found” items.

General Policy

Fiscal Policy FI0140, Unclaimed Property provides detailed information on reporting and disposing of unclaimed property, including “lost and found” items. This campus policy is intended to provide more detailed information about what to do with unclaimed property and lost items.

1. If a weapon (e.g., firearm, knife, explosive) or dangerous item cannot be safely secured, then either 911 or UTPD should be contacted immediately. Otherwise, the weapon or dangerous item should be safely secured and UTPD should be contacted immediately so that arrangements can be made either to take the item to UTPD or for UTPD to retrieve the weapon or item.
2. Lost property and items (except as described in paragraph 1) should be returned directly to the owner if the owner’s identity is known or readily identifiable (e.g., wallets, checks, and items with a name on them).
3. If lost property cannot be returned to the owner, it may be maintained for a reasonable period of time in a “lost and found” area or container.
4. If the owner cannot be located or does not retrieve property, then the following items should be taken to UTPD, at the corner of Cumberland Avenue and 11th Street: personally identifiable items, cash, uncashed payroll checks, uncashed disbursement checks, uncashed refund checks, uncashed miscellaneous checks, uncashed remittances, credit balances in accounts receivable, and stored value cards (e.g., VolCard, gift cards). All other items should be taken to the UT Warehouse, 2111 Stephenson Drive and will not be accepted by UTPD. The UT Warehouse shall accept these items during regular business hours, Monday through Friday, 8:00 am to 5:00 pm. A unit that wishes to dispose of lost or abandoned property in another manner should obtain permission from the UT Warehouse Manager.
5. The UTPD and UT Warehouse will maintain items for a minimum of sixty days before disposing of them.