Unclaimed Fund Division 30 years old

Van Wert independent/contributor content

COLUMBUS — The Ohio Department of Commerce Division of Unclaimed Funds marked its 30th anniversary Monday by encouraging even more Ohioans to step forward and claim their unclaimed treasure.

So far in Fiscal Year 2012 (July 2011-December 2011), the division has paid more than 29,500 claims — a 34.5 percent increase over the same time last year.  It has also paid more than $26.1 million so far in FY 2012 — about $4.5 million ahead of last year’s pace. Director David Goodman said these increases can be attributed to the division’s aggressive outreach campaign and the staff’s hard work.

“Today, we’re celebrating a 30th birthday party. It’s for those Ohioans who are reunited with their hard-earned money,” Goodman said Monday. He said that the division is working aggressively to return funds to their rightful owners and he encourages Ohioans to continue to search for their forgotten money. “There may be a pot of gold waiting for you,” he said.

Since the Division of Unclaimed Funds was created in January 1982, the division has paid more than 838,000 claims worth $828 million. Goodman said that the forgotten money has helped Ohioans buy a tank of gas, pay off some bills, help them through hard times, make needed home repairs, or even expand a business.

“If you go back even further to 1968, when the unclaimed funds program was a section in the Department of Commerce, more than 900,000 claims have been paid,” Goodman said.

Unclaimed funds consist of monies or the right to monies that have been lost or abandoned.  These funds are reported to the State of Ohio for safekeeping until the rightful owners can be found.  Some common examples include:  dormant checking and savings accounts, forgotten rent and utility deposits, uncashed checks, undelivered stock certificates, and uncashed insurance policies.

During the celebration, the director recognized two unclaimed funds recipients who represent the many Ohioans who have been served by the Division.

Marilyn Caporini, of Dayton, was laid off from her job in 2002. She saw a news story about unclaimed funds that caught her attention.

“When Marilyn learned that she had accounts worth nearly $18,000, she jumped in her car, drove to Columbus, and filed her claim in person. Marilyn’s long-lost money was her bridge to the future,” Goodman said.

Sam Ennin, of Columbus, is owner of Adom Automotive Repair.  In 2007, he was expanding his auto repair business. The expansion project received a boost when Sam claimed $3,332 for his company.

“Claiming the funds was a catalyst for his business and for the workers Sam has hired,” Goodman said.

In 2012, the Division is not resting on its accomplishments.  The Division will be focused on returning even more unclaimed public funds and taxpayer dollars to their proper source, especially during this time of tight budgets. Governor John Kasich has asked every department in his administration to find ways to help local governments without further burdening taxpayers.  “In 2012, we are expanding our outreach focus to our schools.  We want every unclaimed dollar put back in the classrooms and we will be working with school superintendents and treasurers so that they can claim their funds,” Director Goodman said.

Director Goodman thanked the Division’s media partners across the state for helping to get the word out about unclaimed funds and helping Ohioans to find their lost treasure.

The Division’s Online Treasure Hunt continues to be a popular means for Ohioans to search for unclaimed funds and to initiate the claims process. Superintendent of Unclaimed Funds Yaw Obeng encourages Ohioans to visit the Division’s website at www.unclaimedfundstreasurehunt.ohio.gov to check for unclaimed funds.  The service is available seven days a week, 24 hours a day.

Individuals without Internet access can write to the Division with the names to be checked and the Ohio counties in which the individual(s) have lived.

The Division’s address is:

Ohio Department of Commerce

Division of Unclaimed Funds

77 South High Street, 20th Floor

Columbus, OH 43215