Rutherford: Property returns up 20 percent

State Treasurer Dan Rutherford says his office returned $72 million worth of property to Illinoisians in the first nine months of 2011. (WJBC file photo)

State Treasurer Dan Rutherford says his office has been able to dramatically increase the amount of unclaimed property it has returned to the public, despite a drop in his office’s budget.

Rutherford says the treasurer’s office returned $72 million to owners in the first nine months of the year, compared to $60 million returned in the first nine months of 2010, when Alexi Giannoulias was treasurer.

“We’ve been pretty aggressive with this, with Cash Dash events in communities,” Rutherford said, noting that he voluntarily cut his office’s general revenue budget to a 10-year low.

Rutherford’s office is also trying to reunite the public with nearly 200 military artifacts including medals, ribbons, awards, dog tags and service records.

Rutherford adds that efforts like Cash Dash aren’t paid for by tax dollars. They are paid for by interest on treasurer’s office investments.

Rutherford says property that goes unclaimed after 10 years will go up for auction, which he is planning to hold online by the end of the year.

Click here to listen to Scott and Colleen’s interview with Rutherford.

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Eric Stock can be reached at eric@wjbc.com.