State reunites Iowa school district with lost money

The Spencer School District received a check for over $600
(Dakota News Now)
Published: Sep. 23, 2020 at 4:13 PM CDT
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Des Moines, Iowa (KWQC) - More than $600 from the Great Iowa Treasure Hunt is back in the hands of the Spencer Community School District.

Iowa State Treasurer Michael Fitzgerald announced the money was returned through the Great Iowa Treasure Hunt program, which returns unclaimed property back to the rightful owner or their heirs.

Spencer Community School District located its lost money by receiving a letter from the Great Iowa Treasure Hunt.

“The process to claim our funds was relatively simple and we received the money within a few days," Jolynne Eilts, the district’s business manager, said. "My only regret is that I wish we would have claimed it sooner!”

In a new release from his office, Fitzgerald said, “Because of the coronavirus pandemic, we know many are struggling financially and want to encourage everyone to search the for schools and organizations in their community.”

Over $394 million is waiting to be claimed in the Great Iowa Treasure Hunt.

About the Great Iowa Treasure Hunt:

Unclaimed property refers to money and other assets held by financial institutions or companies that have lost contact with the property’s owner for a specific period of time.

State law requires these institutions and companies to annually report unclaimed property to the State Treasurer’s Office. The assets are then held in the Great Iowa Treasure Hunt until the owner or heir of the property is found.

Common forms of unclaimed property include savings or checking accounts, stocks, uncashed checks, life insurance policies, utility security deposits, and safe deposit box contents.

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