What is Lost And Found?

Legal Definition
A lost and found (American English and Canadian English), lost property (British English), or lost articles (also Canadian English) is an office in a public building or area where people can go to retrieve lost articles that may have been found by others. Frequently found at museums, amusement parks and schools, a lost and found will typically be a clearly marked box or room in a location near the main entrance.

Some lost and found offices will try to contact the owners of any lost items if there are any personal identifiers available. Practically all will either sell, give or throw away items after a certain period has passed to clear their storage.
-- Wikipedia