Nearly $2Billion of unclaimed cash can be windfall for towns

They are the state’s financial orphans — roughly $2 billion in unclaimed assets ranging from forgotten savings accounts and uncashed checks to forlorn safety deposit boxes.

The Unclaimed Property Division at the state treasurer’s office estimates that 10 percent of residents have listings in its database,

Cities and towns are included, too, with Treasurer Steven Grossman recently turning over $425,000 — ranging locally from $43 for Sherborn to $78,000 for Medway.

“I was just excited to get the money,” Medway Town Administrator Suzanne Kennedy said.

Medway’s returned money is pegged as free cash that can be used in the general fund, enough for a firefighter, police officer or teacher when it’s certified and becomes available two budget cycles from now.

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