Money flowing in faster than it flows out sounds like a good thing. But one division of Vermont state government exists to deplete its bank account — and it can't get rid of its holdings fast enough. The Unclaimed Property Division of the Office of the State Treasurer is charged with reuni ting Vermonters with their lost or forgotten assets. Those could be bank accounts, uncashed paychecks, life insurance benefits, mutual funds, security deposits, retirement accounts or the contents of safe-deposit boxes. The state is holding more than 1 million properties with a total value of more than $130 million. Despite publicity events and advertising campaigns that encourage people to search its online database, year after year the division takes in more money than it pays out. Vermont law requires banks, businesses and other entities holding assets to attempt to notify the owners. After a period with no communication, generally two or three years, the organization is required to turn over the property to the state. That's for safekeeping, State Treasurer Mike Pieciak explained, because private organizations could go out of business or change hands. Unclaimed property can get lost in the shuffle. Assets worth $18.1 million were turned over to the state last year, while $5.8 million was returned to Vermonters. People never lose their right to claim their property, but while it's in state hands, it helps pay for state government, a situation made possible by the fact that the amount Vermonters claim each year is a tiny fraction of the total. The balance continues to grow. Unclaimed funds cover the $1.2 million annual budget of the Unclaimed Property Division, where five people work. Additional revenue — $9.3 million last year — goes into the general fund. Contents of safe-deposit boxes go into bankers boxes, which are sealed and stored in a vault the size of a small conference room. They offer a glimpse at what Vermonters hold dear: engraved silver matchboxes, tea sets, coin and gem collections, silver belt buckles, an 1864 2-cent piece, and a simple Seiko watch likely precious only to the family of the woman who wore it. There are forgotten family records, locks of hair, and sports cards that came in bubble gum packs and cereal boxes: an Orlando Magic center Shaquille O'Neal card, Bo Jackson as a rookie Los Angeles Raiders running back, Roger Clemens in his second season with the… ...read more read less