At the Treasurer's office, we fought to guarantee permanent funding for the services we offer to Kansans and to state agencies. One important function of the State Treasurer's office is the receipt and distribution of the state's money. In 2004, nearly $17 billion passed through the office.

With bi-partisan support from both the House and Senate, Senate Bill 123 would have made permanent the transaction fees charged to state agencies using the Treasurer's office cash management services. It is a business model used by other state agencies and states. The process has been well received by nearly all of the agencies. After nearly two years, it has saved the State General Fund nearly $1.5 million annually.

For the third year in a row, Governor Sebelius elected to put partisan politics ahead of strong fiscal management by rejecting the legislation. I supported our lawmakers when they attempted to override the Governor's veto. Although they were successful in only one chamber, I appreciate their efforts and hard work on this issue.

Under the Governor's plan for funding the State Treasurer's office, Kansans would be required to pay a new additional tax on all unclaimed property returned to its rightful owner or heirs. The Governor's plan would basically amount to double taxation on certain unclaimed assets.

Her plan would require a tax on unclaimed property returned to Kansans ranging from 25 to 77 percent, based on prior year returns. The highest rate any state in the nation charges for unclaimed property is 5 percent.

Unclaimed property is inactive savings and checking accounts, un-cashed checks, stock shares and bonds, dividend checks, insurance proceeds, mineral royalties, utility deposits, and safe deposit box contents. Property is sent to my office by businesses and state and local governments after a certain number of years as required by law.

The cash/property is kept in the general fund for the benefit of all Kansans until the rightful owner or heirs claim it. The interest on the fund is deposited in the state general fund for the legislature to appropriate. Currently, there is more than $170 million in unclaimed financial assets plus stock with a current market value of $3.8 million for over 700,000 owners.

Let's say a life insurance policy taken out by a loved one years ago for some reason was not distributed and became unclaimed property. Can you even imagine the anguish of paying an additional 25 percent tax on this money your family member set aside for you? That is what would happen under the Governor's plan.

Fair and equitable? I don't think so, and neither would you.

Each year nearly $8 million in unclaimed property is given back to Kansans. If the governor's plan is approved, at least $2 million will be taken from your pockets. As your State Treasurer, I am absolutely opposed to this new tax and will fight it again next year and as long as I have to for the protection of our state's citizens.

The claims process is easy and free (at least for one more year). I encourage you to visit www.KansasCash.com or call 1-800-432-0386 to discover if you, your family or friends are one of the 700,000 owners.

I appreciate the trust you have given me to manage our state's financial holdings and I will continue to direct my efforts in that area in the months and years ahead. It is my honor to serve as your State Treasurer.

If you have any questions or would like additional information about any of the programs we offer, please give us a call or check out our website at www.KansasStateTreasurer.com.