Jefferson City, MO (STL.News) As the fiscal year comes to a close today, Missouri State Treasurer Scott Fitzpatrick announced that his administration has broken its third Unclaimed Property record, returning unclaimed property to more Missourians in a fiscal year than any other Treasurer in Missouri history. Despite the challenges of working from home due to COVID-19, employees in the Unclaimed Property Division closed 209,422 accounts, 11,251 more than the prior fiscal year.
“To say that I am proud of the staff in the Treasurer’s Office, is an understatement,” Treasurer Fitzpatrick said. “Breaking a third record in a year and a half is impressive—but when you consider that three and a half months were spent working remotely, it is even more so. And not just the UCP Division, employees across all of our divisions worked hard to ensure that even as we adapted and responded to COVID-19, the work of the Office, serving Missourians, was not impacted.”
Under the Treasurer’s leadership, over the past fiscal year, the investments division diversified the State’s portfolio, bringing back the general time deposit program and investing in commercial paper. They also placed $489,680,717 in linked deposits, supporting small businesses and farmers across the state. The banking division processed nearly 5 million payments to Missourians and vendors. And the general services division proactively replaced over 400 more checks than the prior fiscal year, helping Missourians obtain an additional $333,000.
The Treasurer also worked to increase transparency related to government spending, grow awareness of valuable savings programs, and increase the value of these programs. In April, Treasurer Fitzpatrick expanded the Show-Me Checkbook to include local government expenditures. Spending data from six counties is currently searchable, with 16 counties in progress. Additionally, the Treasurer created a webpage dedicated to COVID-19 expenditures across state government, aggregating spending data from the Show-Me Checkbook in one place for more accessible searching.
Last week, Treasurer Fitzpatrick announced that a contract amendment with program manager Ascensus will save MOST 529 participants millions of dollars in program fees over the next five years. The Treasurer also announced that MO ABLE reached 1,500 accounts, a major milestone for the savings and investment program for individuals with disabilities, earlier this month. The program currently has 1,562 accounts and $10,343,824.86 assets under management.