State treasurer's office sets new record for returning money to South Carolinians
Wednesday, July 16, 2008The State Treasurer's Office "Palmetto Payback" Program has set a new record for returning money to the people of South Carolina. The numbers are now in for the past fiscal year, 2007 2008, and they show that the Treasurer's Office returned a record amount of $11.4 million dollars.
"I am very proud that our office was able to return this amount of money to its rightful owners," said State Treasurer Converse Chellis. Chellis made returning unclaimed funds a priority when he took office in August of last year. Chellis said, "This money belongs to individuals and families and not to the State. We will continue to work hard to ensure South Carolinians receive every dollar that belongs to them."
The previous highest amount returned in any one fiscal year was $8.2 million in 2005-2006. The new record beats that amount by $3.2 million. The amount of claims paid also was a record 19,904 beating the previous high of 14,080.
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