State treasury to get $97.4 million in unclaimed property funds

CARSON CITY - Nevada's state treasury will be filled with a record $97.4 million in unclaimed property funds collected during the fiscal year that ended June 30, Treasurer Kate Marshall said Wednesday.

That money - collected mainly from abandoned bank accounts, safety deposit boxes, payroll checks and gift certifications - tops the $83.7 million collected last year and is $15 million more than the state expected to receive when the two-year budget was approved last year.

Owners of the property still can claim it, although most never do.

Marshall noted in a letter to Gov. Brian Sandoval that her office through its Operation Claim It program increased the return rate to the properties' rightful owners by 37 percent during the last year.

The return of safety box claims to owners increased from 150 to 414 during the past fiscal year.

She also said the $337,852 in proceeds from abandoned gift cards has been forwarded to the state Education Trust Fund in accordance with state law. This money can be spent by the Legislature only on education.

For more information about Marshall's Unclaimed Property Division, go to https://NevadaTreasurer.gov and then click on the Unclaimed Property tab.

Contact Capital Bureau Chief Ed Vogel at evogel@reviewjournal.com or 775-687-3900.