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State Treasurer visits local Rotary Club
Kansas State Treasurer Dennis McKinney attended Wednesday's meeting of the Fort Scott Rotary Club to discuss a few things going on in his department.
McKinney said that although the core mission of the Kansas State Treasurer's Office has not changed since beginning in 1857, the office is operated much more efficiently. He said the use of digital imaging technology that began in January 2009 to scan checks for deposit has cut down on paper work, paper handling, and the amount of personnel needed in the office.
The Kansas Department of Revenue began using the same technology in July 2009, he added.
"The mission is the same now the technology is of course a lot different," McKinney said. "We're a fairly lean machine."
A major topic in McKinney's presentation was the unclaimed property program, now in it's 31st year, which has received a lot of attention. McKinney said there is currently $200 million in unclaimed property across the state. He said the program was created on the principle that just because somebody doesn't have the proper address for an individual does not mean they get to keep the money.
"We have given a lot of attention to this program over the last year because in a down economy ... there are a lot families that need to get their money back ... and we want to help them do that," McKinney said. "From our prospective, we want that money back out in circulation in the Kansas economy. We want that money back out there creating jobs and commerce across the state of Kansas, rather than sitting in our accounts."
As a result of the increased attention, McKinney said a record number of claims were handled between July 2008 and June 2009. During that time, 38,000 claims were handled. Since July 2009, McKinney said, the staff has already surpassed the number and anticipates handling about 44,000 claims resulting in $14 million being returned to the citizens, an increase of $2 million from last year.
For more information on the unclaimed property program visit www.kansascash.com or call (800) 432-0386.
McKinney, a native of Greensburg, said he looks back on his experience in rebuilding the town after the 2007 tornado as he is often asked what can be done on the state and national level to help improve the economic situation.
"If you rely on your faith in tough times, if you can see the opportunities that exist in the midst of a crisis, and you do a good job of planning where you really talk to each other and listen to each other ... you get pretty good results ... and that is what I recommend on the state and national level," McKinney said.
During his presentation, McKinney also discussed education and Medicaid funding as well as a program designed to help parents invest money toward their children's education at a university, community college, or trade school.
To view McKinney's presentation in its entirety, www.fstribune.com/gallery/statetres.