"Each year my office attempts to balance the demands of the state budget with the needs of Kansans," Treasurer Jenkins said. "Our 2005 legislative package proposes to return unclaimed property to Kansans including interest, if applicable, and continue to save more than $1.5 million in state general fund dollars."

In Interest of Kansans:
In an effort to return all Unclaimed Property to Kansans, a bill will be introduced to the legislature that will allow the Kansas State Treasurer's office to pay owners or their heirs earnings on interest-bearing accounts. Currently, the state takes the interest accrued from all property that is turned over to the Treasurer's office.

"Citizens of Kansas who have property with my office deserve to receive the full dollar value and, if applicable, interest when the property or cash is claimed," Treasurer Jenkins said.

In addition to paying interest to citizens, the Treasure will continue to oppose any effort to assign a tax on unclaimed property returned.

In general, unclaimed property includes inactive savings and checking accounts, uncashed checks, stock shares and bonds, dividend checks, insurance proceeds, mineral royalties, utility deposits, and safe deposit box contents. The Kansas State Treasurer's office receives property from businesses and state and local governments after a certain number of years as determined by law.

"There is over $150 million of cash and property to return to Kansans, $8 million of which was returned to citizens just last year alone," said Jenkins.

Permanent Relief to the State General Fund:
Legislation passed at the end of the 2003 legislative session required the Kansas State Treasurer's office to begin assessing transaction fees to state agencies that use the office's cash management services. This change came with a cost to implement and extensive staff training to operate. Now that the cost has been incurred, the Treasurer's office will propose a bill to make this funding mechanism permanent.

"This change alone saved the State General Fund nearly $1.5 million last year," Jenkins said. "This process has been well received by the majority of the state agencies we serve, and after nearly two years it is working well."

The Cash Management division received and disbursed nearly $17 billion of the state's money last year from various agencies.

The proposals will be introduced early in the session and referred to committee by the House Speaker or Senate President.

Jenkins, a former State Representative and Senator from Topeka, was elected Treasurer on Nov. 5, 2002. She is a Certified Public Accountant and former small business owner. Since being sworn into office in January 2003, Jenkins has expanded investment options in Learning Quest, and initiated multiple financial literacy programs.