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Missouri public schools are getting $900,000 from the state's Unclaimed Property Fund. KSMU's Missy Shelton reports.
Missouri public schools are getting 900 thousand dollars from Missouri's Unclaimed Property Fund.
The fund, which is administered by the State Treasurer's office holds abandoned and unclaimed property.
Sara Steelman is State Treasurer of Missouri.
State law mandates that a percentage of money from the unclaimed property fund be transferred to public schools.
Steelman says just because some of the money is being given to schools doesn't mean a private citizen is losing unclaimed moneys they might have in the fund.
Steelman says it's easy to find out if you have unclaimed property in the fund.
The transfer of money from the Unclaimed Property fund began in 1985 when it went into the state's General Revenue fund to help pay for a wide range of state services.
In 2002, lawmakers changed the system and gave those funds to public schools.