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Treasurer releases midterm report

  

JEFFERSON CITY, Mo. – Missouri State Treasurer Clint Zweifel today released a report noting key accomplishments since he took office in 2009. 

“I consistently strive to make my office more accessible to Missourians, and this report is a way to help those I serve understand the day-to-day role of my administration,” Zweifel said. “I am very proud of what my team and I have been able to accomplish for our state in terms of economic development and making government more accountable to taxpayers over the last six years.”

The report notes that the office of the treasurer manages a $3.5 billion portfolio and oversees more than $24 billion in state spending every year while processing more than 6,000 checks a day and more than 1.5 million checks each year.

A major responsibility of the treasurer’s office is Unclaimed Property, of which Treasurer Zweifel has touted his success in returning more then 50% more unclaimed property than ever returned in state history – over $221 million – to Missourians. The report points to utilizing technology, such as email alerts, as a tool of success.

“Unclaimed Property can belong to individuals, businesses, nonprofits or any entity that conducts financial transactions,” reads the report. “It can come from abandoned bank accounts, uncollected insurance policies, uncashed checks and more. State law requires financial institutions, insurance companies, public agencies and other business entities to turn over assets to Treasurer Zweifel after a statutorily defined period of time, generally five years. The assets are held by the office in perpetuity until the original owners or a proper heir is located. All Unclaimed Property is returned free of charge. Treasurer Zweifel has utilized technology to improve services provided to Missourians searching for and claiming Unclaimed Property. These efforts continue to grow, decreasing wait times, improving returns and making Missouri a national leader in Unclaimed Property innovations, including paperless claims, search kiosks and email alerts. Missourians can search for Unclaimed Property, begin the claims process, register for email alerts, and email search results to family and friends at www.ShowMeMoney.com.”

The report also gives brief highlights of other programs the treasurer’s office is involved in, including MOSERS, Partnerships with Local Governments, Missouri Linked Deposit Program, Ferguson Small Business Relief Fund and the Missouri Military Partnership, Missouri Housing Development Commission, Unclaimed Property Military Medals and Financial Literacy, MOST—Missouri’s 529 College Savings Plan.

The Treasurer oversees the state’s banking services, investments and Unclaimed Property. He also manages MOST – Missouri’s 529 College Savings Plan and serves on the boards of the Missouri State Employee’s Retirement System (MOSERS) and the Missouri Housing Development Commission (MHDC). 

The report also gives an overview of the divisions of his office and the duties of each. Treasurer Zweifel is currently serving his second and final term as treasurer.

The report is available online at treasurer.mo.gov/pdf/Midterm_Report_Final.pdf.