On Friday, December 13, Winston-Salem State University celebrated Commencement Day with a unique and heartfelt contribution from a familiar face – State Treasurer Dale R. Folwell, CPA. Not only did the event celebrate the achievements of the graduates, but it was also an exciting homecoming for Folwell, who once walked the halls of the university as a non-traditional student.
Folwell returned nearly $200,000 in unclaimed funds to the university. This is Chancellor Bonita Brown’s “Christmas comes early.” A total of $181,741.74 was identified by the State Treasury’s Unclaimed Property Division and represented unclaimed loan balances and vendor payments for various reasons.
“It gives me great pleasure as a former student to return this missing money to its rightful owners,” Folwell said during the presentation. “I want to thank Winston-Salem City Councilman James Taylor Jr. for helping make this event possible and Chancellor Brown for graciously agreeing to host the presentation on such an important day for the university.”
Chancellor Brown expressed his gratitude for the unexpected funds and emphasized their importance in increasing the financial resources of the university. “Unexpected resources like this bring extra holiday cheer to our university,” he said, stressing the management’s diligent efforts in securing legitimate claims.
The unclaimed funds are part of a broader state initiative, the NCCash.com program, which currently protects about $1.3 billion in lost or misdirected assets in North Carolina. This includes more than 22 million properties awaiting recovery by their rightful owners. During his tenure, Treasurer Folwell has successfully recovered more than $610 million for individuals and institutions across the state.
As Winston-Salem State University celebrates its graduates, giving back these funds not only supports the institution’s mission, but also reinforces the enduring values that Folwell lived by during his own educational journey. with the motto “Enter to learn, leave to serve“The university continues to empower its students to thrive and contribute to their communities.
