Winston-Salem State Receives Nearly $200,000 in Missing Funds from State Treasurer
WINSTON-SALEM, NC – In a heartwarming blend of celebration and giving, Winston-Salem State University (WSSU) received an unexpected gift of nearly $200,000 in unclaimed funds from the North Carolina Department of State Treasurer (DST) during its Commencement Day on Friday, Dec. 13.
State Treasurer Dale R. Folwell, CPA, a former student of a Historically Black College, personally presented the check to Chancellor Bonita Brown during a ceremony that also marked his sentimental return to his alma mater.
“It gives me great pleasure as a former student to return this missing money to its rightful owners. I wish to thank Winston-Salem City Council member James Taylor Jr. for helping to facilitate this event and Chancellor Brown for graciously agreeing to host the presentation on such an important day for the university,” said Treasurer Folwell.
“Winston-Salem State is not just a collection of buildings and books vital to learning. It embodies a culture, a state of mind, and a sense of pride that defines staff, students, and faculty. Although I started my college career there in 1981, the same values, inspiration, and confidence I gained as I worked simultaneously as a garbage collector and motorcycle mechanic remain a constant pillar of the education experience of today’s students,” Treasurer Folwell said.
The funds, totaling $181,741.74, were uncovered during a review by DST’s Unclaimed Property Division (UPD), also known as NCCash.com. The state safeguarded the money, consisting of credit balances and uncashed vendor payments, until the rightful owner was identified.
“We were pleased to learn that Winston-Salem State University has been included in another record year of unclaimed cash disbursements from the Department of State Treasurer. Their administration has demonstrated exceptional diligence in identifying the rightful recipients of these funds. Unexpected resources such as these bring an added touch of holiday cheer to our university,” Chancellor Brown said.
WSSU consistently ranks among the top Historically Black Colleges and Universities (HBCUs) in North Carolina and nationwide, offering 39 baccalaureate, seven master’s, and two doctoral degrees to nearly 4,800 students. Founded 132 years ago, the university remains dedicated to its motto: “Enter to Learn, Depart to Serve.”
Treasurer Folwell, who has overseen the return of over $610 million in unclaimed property during his tenure, praised the work of UPD staff in ensuring funds are reunited with their rightful owners. NCCash.com is safeguarding nearly $1.3 billion in unclaimed property across the state.
This latest recovery adds to the program’s record-breaking year, reuniting North Carolinians with over $115 million in fiscal year 2023-24. For WSSU, the funds represent a financial boost and a reminder of the community’s shared commitment to educational excellence.
Photos: WSSU