Recent reports from the Utah County Health Department substance abuse division states there has been a 2 percent increase in the total number of patients, who are seeking medication and treatment for drug addiction for more than five years. As per the reports, Utah unclaimed cash is piling up at an alarming rate and these can be used to curb the problem easily but there are chances that the rightful owners may not like the idea.
Archive for September, 2011
It has been the top priority for the decision makers in all the states to reduce the amount of unclaimed money. States like New York and California are the front-runners in the government unclaimed money balance. Some of the richest unclaimed fund treasuries in the U.S. are New York with $10.5 billion, California with almost $6 billion and Texas with $2 billion.
The influx of unclaimed money continues, and billions of unclaimed money is still being added to the state treasuries across the nation. Most of the state treasuries have reported that the major source of unclaimed funds and properties are abandoned bank accounts, unclaimed savings and checking accounts, child support payments, uncashed dividends, stocks, customer deposits or overpayments, certificates of deposit, credit balances, refunds, matured life insurance policies, uncashed death benefit checks, and the contents of safety deposit boxes.
Arkansas is dealing with the increasing problem of state unclaimed money and unclaimed property despite the repeated initiatives of the state agencies. As per the records of the state treasuries, total unclaimed money within the state was $128,000,000 dollars and 500000 individual records.
Despite all the initiatives organized by the state agencies of Arkansas, the piles of unclaimed property are still increasing at an alarming rate. Although the agencies managing these funds claim that about $9,200,000 dollars were returned to their rightful owners, still the pile is increasing at a rate much more than the reclaiming rate. Initiatives made by the state include publishing records annually that consist of list of people along with state unclaimed money under their name.
The states hold billions of dollars in unclaimed gift certificates, which go unspent every year. The amount of unclaimed gift cards is reaching an all time high. Every year the states face the problem of accumulation of unclaimed gift certificates worth billions of dollars. The data provided by New York state comptroller specified that last year the New York state collected $9.6 million in unredeemed gift cards.
Unclaimed money is at an all time high. Over burdened with the pressure of piling unclaimed money, the state is now working in coordination with the federal government to locate the rightful owners of the property. The state is launching several initiatives in the form of state treasury websites, monthly fairs, and annual press releases for the public.
The problem of state unclaimed money is increasing at an alarming rate. According to the records of the state treasuries, the amount of unclaimed assets with the agencies comes to be in billions. The states, in coordination with the federal government, are taking initiatives in the form of state run fairs and press releases that offer on the spot information and solution to the people.