My children's primary school has a new policy about lost property: They don't hold onto it. Anything labelled, is handed back to the child concerned. Anything not labelled is either thrown away or given to a charity shop "if its worth having" (in the words of the school secretary).
They haven't mentioned this new policy in any newsletter (despite there being about 30 newsletters per year). I only found out when I asked if I might look in the lost property as DS has lost his (rather expensive) gloves.They were labelled, but he either dropped them in the street or the person who found them didn't see the label as it was under the velcro strip.
I don't when the policy started because its the first time in two years that I have needed to try to find anything like this.