SEMO CHECKS AMONG STATE UNCLAIMED ITEMS

Missouri could be holding your money.

The state treasurer's office has about $140 million in unclaimed cash, checks and other items for about 1 million individuals, businesses and other entities. Among those on the latest published list is Southeast Missouri State University.

The treasurer's office is holding two checks for the school, one for $2.50 and another for $200.

Bill Duffy, vice president of finance, said he didn't know of the unclaimed money until Thursday. He said his office investigated the matter after learning from the Southeast Missourian that the school was on a published list of names of property owners who own unclaimed property being held by the treasurer's office.

"This is the first it has been brought to my attention," said Duffy, who has worked in finance at the university for eight years.

Duffy said he isn't interested in filling out a lot of paperwork for a $2.50 check from Phillips Petroleum.

The treasurer's office has implemented an on-line process this year that allows people to start applying for their money over the Internet.

"If you can make the process easy enough that you are not having to write in or compose a letter or call somebody, I think they will see better results," said Duffy.

Don Kling, spokesman for Secretary of State Bob Holden, said the treasurer's office frequently receives unclaimed property owed state agencies.

"A lot of stuff we get are uncashed checks," he said. The unclaimed property frequently includes checks written to the Missouri Department of Revenue, a state agency that is housed in a state office building across the street from the treasurer's office.

Kling said they always seek to get the money to the proper owner, business or state agency. But he said getting a small amount of money to a state university or agency isn't a top priority.

The priority is to get large sums of money returned to their rightful owners. Kling said Holden's office would have contacted Southeast at some point in an effort to get the school its money.

Most of the unclaimed property is in the form of bank accounts, stocks, bonds, utility deposits, uncashed checks and the contents of safe deposit boxes.

Kling said they often end up with unused travelers' checks.

But the treasurer's office has its share of more unusual property too, including silver bars, false teeth, a two-carat diamond, cremated remains and papers signed by Abraham Lincoln.

The treasurer's office doesn't handle real property such as land, houses, cars and boats.

If left unclaimed, the treasurer's office continues to hold onto the property forever.

Occasionally, the state auctions off non-monetary items and holds the proceeds in the owners' names.

The state makes money off the unclaimed property in the form of interest revenue. If the unclaimed property is in the form of a savings account, the interest on that account will be credited to the owner for up to five years.

Kling said he doesn't know how much money the state garners off interest on unclaimed property. But the average daily investment of all the money handled by the treasurer's office amounts to $3 billion. "We earn $300,000 to $400,000 a day in interest, $12 million in interest a month," he said.

Kling said the $200 check to Southeast was written by a Wisconsin company in 1991. The check was never cashed. It may have been lost in the mail, he said. "Somehow it is on their books."

Under state law, holders of unclaimed property must turn over the property to the state if they have had no contact with the owners for at least five years. Most of the abandoned property belongs to people who have moved away or are unaware they are heirs to unclaimed assets, Holden said.

The treasurer's office is required by law to publish the names and the last known addresses of owners of new unclaimed property it receives each year in at least one general circulation newspaper in every county of the state.

More than 34,000 names are being published this year in Missouri.

How to get what is owed you:

The fastest way to check if the state is holding your money is to check the treasurer's Web site at www.sto.state.mo.us. If you find your name on the list, you can begin the claims process by immediately filing an on-line form.

You can also inquire by contacting the Unclaimed Property Division, P.O. Box 1004, Jefferson City, Mo. 65102-1004.