THE IOWA TREASURER’S OFFICE CONTINUES TO HOLD NEARLY A HALF-BILLION DOLLARS WORTH OF CASH AND OTHER FORGOTTEN ASSETS.
STATE TREASURER ROBY SMITH SAYS THE ASSETS ARE FROM A VARIETY OF SOURCES;
ROBY1 OC……OR DIVIDEND. :10
HE SAYS THE STATE RECEIVES A COUPLE OF HUNDRED ABANDONED SAFE DEPOSIT BOXES EACH YEAR.
ROBY2 OC………OUR POSSESSION. :06
THE IOWA TREASURER’S OFFICE IS HOPING TO REUNITE THAT PROPERTY WITH ITS OWNERS OR FAMILY MEMBERS.
ROBY3 OC…….THEIR OWN PROPERTY. :09
LAST MONTH SMITH’S OFFICE HIRED A NATIONAL FIRM THAT HANDLES AUCTIONS FOR STATE AND LOCAL GOVERNMENTS TO SELL VALUABLES FROM SOME OF THE SAFETY DEPOSIT BOXES THAT HAVE BEEN DECLARED UNCLAIMED PROPERTY AND TURNED OVER TO THE STATE.
THE STATE IS RUNNING OUT OF SECURE STORAGE SPACE FOR THAT PROPERTY.
