Wednesday April 24, 2024
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Photo: State Treasurer website
Kentucky State Treasurer Allison Ball returned $87,477.23 worth of unclaimed property to the Kentucky Easter Seal Society on Thursday morning.
“I am a big believer in property rights,” Treasurer Ball said in a statement. “One of my favorite things to do in government is to return people’s property back to them. I’m thankful my office is able to play a role in returning money to this organization.”
The Treasurer has proactively returned $47,332.62 worth of unclaimed property to Fayette County during the first quarter of 2017. This initiative proactively searches for unclaimed property in three key areas: local government, schools, and charities. That money can go a long way in helping charities around the Commonwealth.
“Easter Seals Cardinal Hill appreciates the work done by Treasurer Allison Ball and the Unclaimed Property Division to return these funds for our organization,” Executive Director Jenny Wurzback stated. “This will be a great help as we continue our mission of Taking on Disabilities Together!”
The Kentucky State Treasurer administers Kentucky’s Unclaimed Property Fund. Unclaimed property generally consists of payroll checks, unclaimed safety deposit boxes, old life insurance policies, stocks, or vendor checks that have remained unclaimed by their owners after several years.
Since Treasurer Ball has taken office, the Unclaimed Property Division has been working on proactively seeking schools, local governments, and charities in the state that have unclaimed property. This first quarter alone, the division was able to proactively return a total $264,809.39 across the Commonwealth.
“Proactively reaching out to schools, local governments, and charities has been a priority of mine since taking office,” Treasured Ball shared. “It’s important to make sure these groups are aware that they have unclaimed property and we get it returned quickly. These institutions are essential to local communities and any bit of money we can return to them can go a long way in strengthening the local economy.”
In total, Treasurer Ball has returned over $5.9 million dollars of unclaimed property during the first quarter of 2017 and over $30 million since she took office.
To check for unclaimed property, please visit www.treasury.ky.gov.
Photo: State Treasurer website
Kentucky State Treasurer Allison Ball won a major victory in court when Franklin Circuit Court Judge Phillip Shepherd granted her request to participate in the ongoing lawsuit filed by former Kentucky Retirement Systems Board member Tommy Elliott.
“This is a real victory for Kentucky taxpayers and retirees,” Treasurer Ball said in a statement. “The courts recognized that, as Treasurer, I have the responsibility and legal authority to make sure that every taxpayer and retiree dollar is being spent legally. In a time that Kentucky’s retirement system is in crisis, Mr. Elliott’s actions not only violate the law, but they are incredibly wasteful and irresponsible. I would hope that he would stop spending hundreds of thousands of Kentucky retiree pensions on personal vendettas.”
Mr. Elliott is currently using Kentucky retiree pension dollars to fund his lawsuit against Governor Bevin. Governor Bevin removed Mr. Elliott from the KRS board last year, and Mr. Elliott sought legal counsel to contest his removal. Former Kentucky Retirement Systems director William Thielen initially approved Mr. Elliott’s request to use Kentucky retiree pension funds to pursue his claims against Governor Bevin’s administrator, causing Treasurer Ball to sue due to constitutional spending issues. Interim Director David Eager has stopped making payments on Mr. Elliott’s legal bills, while waiting for the court to rule on Treasurer Ball’s arguments.
The Attorney General is also involved in the case, arguing on Mr. Elliott’s behalf with regard to his removal, which underscores the Treasurer’s argument that Mr. Elliott’s is needlessly spending pension dollars. “To have two parties arguing the exact same issue from the exact same perspective is a huge waste of resources,” Treasurer Ball’s General Counsel, Noah Friend, said. “Especially when one of those parties is trying to foot the bill with hard-earned retiree pension money.”
Kentucky is currently facing a pension crisis and elected officials are looking for ways to make sure Kentucky’s public pension systems are fully funded.
“I will always advocate for legal and proper spending,” Treasurer Ball said. “It’s this kind of financial misadventure that put us in this pension crisis in the first place. I hope that Judge Shepherd’s decision causes Mr. Elliott to reconsider his approach to this litigation, with an eye towards stopping the pointless and wasteful draining of retirement funds.”
