U.S. Department of Housing and Urban Development, Office of the Chief Financial Officer Unclaimed Property Office of Audit, Region 7 Audit Report Number: 2018-KC-0002 Kansas City, KS August 7, 2018 To: George J. Tomchick III, Deputy Chief Financial Officer, F //signed// From: Ronald J. Hosking, Regional Inspector General for Audit, 7AGA Subject: HUD’s Office of the Chief Financial Officer Did Not Locate or Recover Its Funds Held by State Unclaimed Property Administrators Attached is the U.S. Department of Housing and Urban Development (HUD), Office of Inspector General’s (OIG) final results of our review of HUD’s efforts to locate and recover its unclaimed funds due to it as identified on States’ unclaimed property websites. HUD Handbook 2000.06, REV-4, sets specific timeframes for management decisions on recommended corrective actions. For each recommendation without a management decision, please respond and provide status reports in accordance with the HUD Handbook. Please furnish us copies of any correspondence or directives issued because of the audit. The Inspector General Act, Title 5 United States Code, section 8M, requires that OIG post its publicly available reports on the OIG website. Accordingly, this report will be posted at http://www.hudoig.gov. If you have any questions or comments about this report, please do not hesitate to call me at 913-551-5870. Audit Report Number: 2018-KC-0002 Date: August 7, 2018 HUD’s Office of the Chief Financial Officer Did Not Locate or Recover Its Funds Held by State Unclaimed Property Administrators Highlights What We Audited and Why We audited the U.S. Department of Housing and Urban Development’s (HUD) efforts to locate and recover unclaimed funds due to it as identified on States’ unclaimed property websites. We initiated this audit because we learned while doing unrelated audit work that funds HUD was entitled to would be turned over to a State as unclaimed property if they were not claimed. This information led us to conduct searches on several States’ unclaimed property websites and find thousands of unclaimed funds listed in HUD’s name or other similar names. HUD may not have been aware of these funds. Our objective was to determine whether HUD located and recovered funds due to it as identified on States’ unclaimed property websites. What We Found HUD did not locate and recover its funds held by State unclaimed property administrators. This condition occurred because HUD did not have policies and procedures or an unclaimed asset recovery official to ensure that HUD located and recovered its unclaimed funds. As a result, HUD was lacking the benefit of its portion of $1.9 million collected by the U.S. Department of the Treasury and will be lacking the benefit of its portion of an additional $2.2 million in current unclaimed funds. What We Recommend We recommend that HUD’s Deputy Chief Financial Officer (1) designate an unclaimed asset recovery official as required by the Treasury Financial Manual, (2) work with Treasury to identify and obtain reimbursement for the Federal Housing Administration’s and Government National Mortgage Association’s portion of the $1.9 million in HUD funds that Treasury collected, and (3) establish and implement policies and procedures to ensure that all of its unclaimed funds are claimed and the money is appropriately routed to put $2.2 million to better use. HUD agreed with these recommendations and established corrective action plans and target dates for completing each one. These management decisions will be recorded in the departmental audit resolution tracking system upon issuance of the final audit report. Table of Contents Background and Objective......................................................................................3 Results of Audit ........................................................................................................5 Finding: HUD Did Not Locate and Recover Its Funds Held by State Unclaimed Property Administrators .................................................................................................. 5 Scope and Methodology ...........................................................................................8 Internal Controls ....................................................................................................10 Appendixes ..............................................................................................................11 A. Schedule of Questioned Costs and Funds To Be Put to Better Use ...................... 11 B. Auditee Comments and OIG’s Evaluation ............................................................. 12 C. Criteria ....................................................................................................................... 15 D. HUD Funds Collected by Treasury ......................................................................... 17 E. HUD’s Current Unclaimed Property by State ....................................................... 19 2 Background and Objective Unclaimed property refers to accounts in financial institutions and companies that have had no activity generated or contact with the owner for 1 year or longer. Owners include individuals, businesses, and government agencies. Common forms of unclaimed property include savings or checking accounts, refunds, insurance payments or refunds, customer overpayments, and utility security deposits. Unclaimed property is regulated by the Uniform Unclaimed Property Act, which establishes that individual States take custody of unclaimed property to hold until the owner files a claim for the property. Each State establishes its own unclaimed property statute to ensure that unclaimed funds remain the property of the owner and that State officials make a diligent effort to return property to its owner. Each State maintains its own database of unclaimed property. Owners of unclaimed property can search for and claim property from individual States, but in an effort to strengthen interstate cooperation and enhance States’ return of unclaimed property, the States established the National Association of Unclaimed Property Administrators (NAUPA). NAUPA uses a website, MissingMoney.com, to assist property owners in searching for their unclaimed property across multiple States. MissingMoney.com has the most up-to-date information for the State databases and helps users file claims for money from the individual States. The U.S. Department of Housing and Urban Development (HUD) is shown as the owner of unclaimed property from multiple State databases. HUD property shown on these unclaimed property databases, once claimed, may be due to either the U.S. Department of the Treasury or HUD. HUD operates using annual appropriations, and any expired funds must be returned to Treasury. These expirations apply to property shown on States’ unclaimed property databases; however, not all funds owned by HUD are part of these expiring appropriations. For example, the Mutual Mortgage Insurance fund, the account that insures Federal Housing Administration (FHA)-insured mortgages, is a revolving fund that is funded primarily from mortgage insurance premiums and sales of foreclosed-on properties. Funds belonging to the Government National Mortgage Association (Ginnie Mae), a self-financed entity within HUD, are also not subject to expiration dates. While there is no HUD office dedicated solely to claiming unclaimed funds for HUD, this responsibility falls under the Chief Financial Officer (CFO). The CFO serves as the principal advisor to the HUD Secretary on financial management and is the senior HUD official responsible for establishing and implementing policies to govern all aspects of financial management in HUD and oversee the design, implementation, and coordination of HUD’s financial information and general management systems. The CFO’s responsibility includes systems integration, development of the annual financial statements, accounting operations, the implementation of HUD’s management control program, and other financial management areas. The CFO is also responsible for providing direction to ensure HUD’s compliance with Office of Management and Budget, U.S. Government Accountability Office, Treasury, and legislative 3 accounting and financial management requirements and to strengthen internal accounting and administrative controls to prevent waste, fraud, and abuse in Federal programs. The Treasury Financial Manual, chapter 5100, requires that HUD establish policies and procedures regarding the identification and collection of its unclaimed funds, which include designating an “unclaimed asset recovery official” to recover unclaimed HUD funds from the States. This official could rely on Treasury to recover unclaimed funds on HUD’s behalf. Within Treasury, the Bureau of Fiscal Service collects unclaimed funds on behalf of most Federal agencies, including HUD. It has the authority to collect for these agencies, either upon request or on its own initiative, if it finds that the agencies are neglecting to collect their unclaimed funds. Our objective was to determine whether HUD located and recovered funds due to it as identified on States’ unclaimed property websites. 4 Results of Audit Finding: HUD Did Not Locate and Recover Its Funds Held by State Unclaimed Property Administrators HUD did not locate and recover its funds held by State unclaimed property administrators. This condition occurred because HUD did not have policies and procedures or an unclaimed asset recovery official to ensure that HUD located and recovered its unclaimed funds. As a result, HUD was lacking the benefit of its portion of $1.9 million collected by Treasury and will be lacking the benefit of its portion of an additional $2.2 million in current unclaimed funds. HUD Did Not Locate and Recover Funds HUD did not locate and recover its funds held by State unclaimed property administrators. HUD’s CFO was responsible for compliance with Treasury requirements, which establish guidelines regarding the efforts of Federal agencies to locate, recover, and account for unclaimed Federal financial assets (appendix C). HUD has claimed funds totaling $3,700 in two isolated instances since 2016, but not as a result of a routine effort to locate and recover funds. In the first instance, a third party contacted a field office employee about $3,400 related to a real-estate-owned single-family home. The employee claimed this amount for HUD. In the other instance, an asset recovery company trying to do business with HUD brought an unclaimed amount to HUD’s attention. The CFO’s office claimed this $300 during our audit. Treasury also recovered unclaimed funds on HUD’s behalf and deposited them into Treasury’s general fund. Treasury routinely searches for and claims funds owned by other Federal agencies. HUD did not coordinate with Treasury to collect the funds. Treasury claimed the funds belonging to HUD because HUD did not notify it of HUD’s intention to claim the funds. Treasury claimed only funds owned exclusively by HUD. While Treasury did not specifically search for funds owned by FHA or Ginnie Mae, these funds were sometimes included in the claims. These accounts are not funded by expiring appropriations as they are revolving funds that are intended to be self-supporting. Any unclaimed funds owned by FHA and Ginnie Mae are due back to their respective accounts. Treasury collected more than $1.9 million in HUD funds from 49 States’ unclaimed property websites from October 2010 through April 2018 (appendix D). HUD Did Not Have Policies and Procedures or an Unclaimed Asset Recovery Official HUD did not have policies and procedures or an unclaimed asset recovery official to ensure that HUD located and recovered its unclaimed funds. HUD’s CFO did not have a policy for recovering HUD’s unclaimed property. The Treasury Financial Manual, chapter 5100, requires Federal agencies to establish and implement procedures to locate and recover unclaimed assets. The policy must indicate whether the agency will internally locate and recover unclaimed assets, ask Treasury to locate and recover assets on 5 the agency’s behalf, or enter into contracts with finders to locate and recover unclaimed assets. HUD was unaware of this requirement before our review. Since HUD did not establish a policy and did not request that Treasury collect on its behalf, Treasury was unaware that it should identify which funds belonged to FHA and Ginnie Mae and return those unexpired funds to HUD. HUD’s CFO did not have staff working with Treasury to ensure compliance with unclaimed property requirements. The Treasury Financial Manual, chapter 5100, requires Federal agencies to designate an unclaimed asset recovery official. Federal agencies are required to provide their designated unclaimed asset recovery official’s contact information to Treasury. If HUD had designated its unclaimed asset recovery official as required, it would have been able to provide assistance in identifying and returning FHA and Ginnie Mae funds. HUD Was Lacking Its Portion of Unclaimed Funds HUD was lacking the benefit of its portion of the $1.9 million collected by Treasury and will be lacking the benefit of its portion of an additional $2.2 million in current unclaimed funds. Treasury did not return to HUD the unexpired FHA or Ginnie Mae funds it collected because HUD did not instruct it to do so. Because HUD did not recover unclaimed assets in a timely manner, Treasury acted on HUD’s behalf to recover assets and deposited them into Treasury’s general fund, assuming that they were all expired funds. As a result, HUD was lacking the benefit of the portion of $1.9 million collected by Treasury that would have been due back to FHA and Ginnie Mae. Under current procedures, HUD will be lacking its portion of $2.2 million and an additional 169 unclaimed properties with unknown amounts (appendix E). If HUD does not designate an unclaimed asset recovery official and establish adequate policies and procedures to recover unclaimed funds, Treasury will continue to collect funds on HUD’s behalf and deposit all recovered funds into the Treasury’s general fund. These policies and procedures need to address what constitutes FHA and Ginnie Mae funds and ensure that these funds are appropriately routed. Some items HUD must consider are what other owner names in addition to FHA and Ginnie Mae should be included, such as Office of Lender Activities or FHA contractor names; what remitter names should be included, such as mortgage companies or title companies; and what other descriptions should be included, such as case numbers, borrower names, insured property addresses, pool numbers, escrow refunds, or utility rebates. Treasury will also continue to claim only funds for which HUD is listed as the sole owner unless HUD establishes adequate policies and procedures to research and claim the co-owned funds. Of the current $2.2 million in unclaimed funds, HUD was listed as a co-owner on funds totaling $336,648 and 12 additional properties with unknown amounts. HUD’s policy might also address thresholds it wishes to impose as these unclaimed funds range from less than $1 to $24,950. These funds will remain unclaimed under current procedures. Conclusion HUD did not locate and recover its funds held by State unclaimed property administrators because it did not have policies and procedures or an unclaimed asset recovery official. Without adequate policies and procedures, unclaimed funds were not recovered and routed appropriately. 6 As a result, HUD was lacking the benefit of its portion of the $1.9 million collected by Treasury and will be lacking the benefit of its portion of an additional $2.2 million in current unclaimed funds. Recommendations We recommend that HUD’s Deputy Chief Financial Officer 1A. Designate an unclaimed asset recovery official as required by the Treasury Financial Manual. 1B. Work with Treasury to identify and obtain reimbursement for FHA’s and Ginnie Mae’s portion of the $1.9 million in HUD funds that Treasury collected. 1C. Establish and implement policies and procedures to ensure that all of its unclaimed funds are claimed and the money is appropriately routed to put $2.2 million to better use. At a minimum, these policies and procedures should address what constitutes FHA and Ginnie Mae funds, ensure that these funds are returned to FHA or Ginnie Mae as appropriate, and include policies to claim co- owned funds with any appropriate thresholds or limitations. 7 Scope and Methodology We performed our audit work between November 2017 and June 2018. Our audit period initially covered the period January 2016 through December 2017. However, we expanded this period because Treasury’s current process for collecting Federal unclaimed property began in fiscal year 2011 and because States’ unclaimed property databases are continually updated. The expanded audit period covered October 2010 through June 2018. We collected information from the States from January 2018 to June 2018. Appendix E contains all unclaimed funds reported to us by the States during that time. We also collected information from Treasury which included all claim activity from October 2010 through April 2018. Our objective was not to compile a complete list of unclaimed funds, but to compile as much information as possible in a reasonable amount of time. To accomplish our objective, we reviewed applicable United States Codes, Federal Register publications, and Treasury guidance; interviewed and followed up with HUD Office of the Chief Financial Officer staff concerning its policies and procedures; interviewed and followed up with HUD employees from different offices; interviewed and followed up with employees of Treasury’s Bureau of Fiscal Service; interviewed and followed up with States’ unclaimed property employees; and reviewed unclaimed property documents related to HUD’s unclaimed funds being held by States as well as claims paid to Treasury or HUD, which included HUD funds. We issued 53 subpoenas requesting records from all 50 States, Washington, DC, Puerto Rico, and the U.S. Virgin Islands. We requested that the States search for the following terms related to HUD: U.S. Department of Housing and Urban Development U.S. Department of HUD Department of Housing Secretary of Housing Urban Development Secretary of Housing and Urban Development Secretary of HUD HUD Federal Housing Administration FHA Government National Mortgage Association Ginnie Mae GNMA 8 We requested that each State provide information regarding currently held unclaimed property responsive to this list of terms. We conducted a 100 percent review of the returned information to determine whether HUD appeared to be the listed owner, there was any co-ownership, or FHA or Ginnie Mae appeared to be the listed owner. We received the requested information from 45 States, 6 States provided information on the number of properties currently held but would not produce amounts, and 2 States did not produce information responsive to our subpoena (appendix E). We also requested that States produce information pertaining to claims of HUD property during calendar years 2016 and 2017. We reviewed this information to determine the total amount claimed, the number of properties claimed, the listed owner(s) for the properties, and who claimed the funds. We contacted Treasury’s Bureau of Fiscal Service, to obtain information on its prior claims on behalf of HUD. Treasury provided summary-level information on the total amount claimed on HUD’s behalf from October 2010 to April 2018 (appendix D). This information included a breakdown by State and year. To assess the reliability of these data, we compared the information provided by States showing Treasury claims on behalf of HUD during calendar years 2016 and 2017 to the data provided by Treasury for the same period and found the data to be reliable. We used data from States’ unclaimed property databases during this audit but did not assess the reliability of these data. We reported on what was being held on States’ unclaimed property websites, but because our audit objective was not to evaluate whether the States’ databases were accurate, complete, or valid, we did not conduct testing to determine the accuracy of the data. We used the data only to show what was reported as available for collection. We conducted the audit in accordance with generally accepted government auditing standards. Those standards require that we plan and perform the audit to obtain sufficient, appropriate evidence to provide a reasonable basis for our findings and conclusions based on our audit objective(s). We believe that the evidence obtained provides a reasonable basis for our findings and conclusions based on our audit objective. 9 Internal Controls Internal control is a process adopted by those charged with governance and management, designed to provide reasonable assurance about the achievement of the organization’s mission, goals, and objectives with regard to effectiveness and efficiency of operations, reliability of financial reporting, and compliance with applicable laws and regulations. Internal controls comprise the plans, policies, methods, and procedures used to meet the organization’s mission, goals, and objectives. Internal controls include the processes and procedures for planning, organizing, directing, and controlling program operations as well as the systems for measuring, reporting, and monitoring program performance. Relevant Internal Controls We determined that the following internal controls were relevant to our audit objective: Controls to ensure compliance with applicable laws, regulations, and Treasury guidance – Policies for locating and recovering HUD funds from States’ unclaimed property websites. We assessed the relevant controls identified above. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, the reasonable opportunity to prevent, detect, or correct (1) impairments to effectiveness or efficiency of operations, (2) misstatements in financial or performance information, or (3) violations of laws and regulations on a timely basis. Significant Deficiencies Based on our review, we believe that the following items are significant deficiencies: HUD did not have policies and procedures for locating and recovering its funds from States’ unclaimed property websites (finding). 10 Appendixes Appendix A Schedule of Questioned Costs and Funds To Be Put to Better Use Recommendation Unsupported 1/ Funds to be put number to better use 2/ 1B $1,946,286 1C $2,156,191 Totals 1,946,286 2,156,191 1/ Unsupported costs are those costs charged to a HUD-financed or HUD-insured program or activity when we cannot determine eligibility at the time of the audit. Unsupported costs require a decision by HUD program officials. This decision, in addition to obtaining supporting documentation, might involve a legal interpretation or clarification of departmental policies and procedures. 2/ Recommendations that funds be put to better use are estimates of amounts that could be used more efficiently if an Office of Inspector General (OIG) recommendation is implemented. These amounts include reductions in outlays, deobligation of funds, withdrawal of interest, costs not incurred by implementing recommended improvements, avoidance of unnecessary expenditures noted in preaward reviews, and any other savings that are specifically identified. In this case, if HUD implements our recommendations, it will ensure that it receives its portion of existing unclaimed funds currently held by State unclaimed property administrators. 11 Appendix B Auditee Comments and OIG’s Evaluation Ref to OIG Evaluation Auditee Comments Thank you for the opportunity to review and comment upon the subject report. We acknowledge that the Department needs to improve compliance with Treasury's "Unclaimed Federal Financial Comment 1 Assets" requirements. In your report, you make three recommendations to HUD: Recommendation lA: Designate an unclaimed asset recovery official as required by the Treasury Financial Manual. Management's Response: Concur. The Office of the Chief Financial Officer (OCFO) will send a response to Treasury designating the Director of the CFO Accounting Center as the unclaimed asset recovery official by June 30, 2019. The letter to Treasury will also request Fiscal Service to locate and recover unclaimed assets on HUD’s behalf. Recommendation lB: Work with Treasury to identify and obtain reimbursement for FHA's and Ginnie Mae's portion of the $1.9 million in HUD funds that Treasury collected. Management's Response: Concur. The CFO Accounting Center will work with Treasury, FHA and Ginnie Mae to identify and obtain reimbursement for unclaimed assets identified as being HUD's unexpired funds. Funds will be identified by March 30, 2019 and collected by June 30, 2019. Recommendation 1C: Establish and implement policies and procedures to ensure that all its unclaimed funds are claimed, and the money is appropriately routed to put $2.2 million to better use. At a minimum, these policies and procedures should address what constitutes FHA and Ginnie Mae funds, ensure that these funds are returned to FHA and Ginnie Mae as appropriate, and include polices to claim co-owned funds with any appropriate thresholds or limitations. Management's Response: Concur. OCFO's Financial Policies and Procedures Division will issue a directive on behalf of the ACFO for Accounting with HUD's polices for unclaimed assets by June 30, 2019. The directive will include HUD's delegation to Fiscal Service for the recovery of 12 unclaimed assets. The CFO Accounting Center will issue standard operating procedures providing a detailed description of the information that Fiscal Service will provide for HUD's review; and procedures for FHA and Ginnie Mae to review the Fiscal Service collection information and determine the portion due to HUD. The standard operating procedures will also establish timelines including when to expect information from Fiscal Service and expected review periods for FHA and Ginnie Mae to identify their unexpired funds. If you have specific questions or need additional information, please contact Aaron Prose at (202) 402-6418. 13 OIG Evaluation of Auditee Comments Comment 1 HUD concurred with our recommendations and established target dates to complete each one. We agree that the planned actions will satisfy our recommendations. The management decision for recommendation 1A, 1B and 1C has been reached and will be recorded in the departmental audit resolution tracking system upon issuance of the final audit report. 14 Appendix C Criteria Treasury Financial Manual, Chapter 5100, Recovering Unclaimed Federal Financial Assets, February 21, 2013 Section 5125 – Location and Recovery of Unclaimed Assets Agencies must designate an unclaimed asset recovery official and must establish internal procedures for the recovery of unclaimed assets. Section 5125.10a – Designating and Unclaimed Asset Recovery Official Federal agencies must designate at least one unclaimed asset recovery official. The unclaimed asset recovery official must ensure that the agency establishes and follows procedures per the guidelines in this chapter. Each agency must send the name, mailing and email addresses, telephone number, and fax number of its unclaimed asset recovery official to Fiscal Service. Section 5125.10b – Establishing Agency Procedures A Federal agency must establish and implement procedures to locate and recover its unclaimed assets. The agency’s procedures must indicate which of the following methods it will use to locate and recover its unclaimed assets: Use internal agency efforts to locate and recover unclaimed assets; Ask Fiscal Service to locate and recover unclaimed assets on the agency’s behalf; or Enter into contracts with finders, after obtaining Fiscal Service’s approval of the agency’s asset recovery procedures. The agency’s procedures also must include how the agency: Responds to superior claim requests; Deposits recovered assets into the appropriate Treasury account; and Maintains records related to unclaimed asset location and recovery activities. Except as otherwise agreed upon by Fiscal Service and an agency, Fiscal Service, as it deems feasible and appropriate, locates and recovers unclaimed assets on behalf of all Federal agencies per the guidelines in this chapter. Federal Register Publication: Docket No. FR-5539-D-01, Published August 30, 2011 Delegation Authority for the Office of the Chief Financial Officer Section A. Authority Delegated The [HUD] Secretary hereby delegates the following responsibilities, functions, and duties to the Chief Financial Officer: 1. To serve as the principal advisor to the Secretary on financial management; 15 2. To supervise, coordinate, and establish policies to govern all financial management activities and operations of the Department [HUD] consistent with the requirements of law and regulation; to oversee the development, administration, and coordination of the financial and accounting functions of the Department; and to issue such policies and directives as may be necessary to carry out the duties of the Chief Financial Officer; 3. To develop and maintain a financial management system for the Department (including accounting and related transaction systems; internal control systems; financial reporting systems; and credit, cash and debt management systems). To coordinate systems for audit compliance with external organizations that have responsibilities for the use and management of funds and other resources for which the Department has responsibility; 4. To provide direction to ensure the Department’s compliance with Office of Management and Budget (OMB), Government Accountability Office (GAO), Department of the Treasury (Treasury), and legislative accounting and financial management requirements; and to strengthen internal accounting and administrative controls to prevent waste, fraud, and abuse in Federal programs; 16 Appendix D HUD Funds Collected by Treasury State 2011 2012 2013 2014 2015 2016 2017 2018* Total Alabama $7,127 $0 $380 $0 $707 $0 $0 $0 $8,213 Alaska 0 1,000 0 0 450 0 0 0 1,450 Arizona 0 11,298 2,416 1,116 287 0 0 0 15,118 Arkansas 199 184 0 0 0 0 0 0 383 California 0 3,452 0 195,938 0 0 0 0 199,390 Colorado 0 0 0 20,000 0 0 0 0 20,000 Connecticut 0 0 0 0 2,142 0 0 0 2,142 Delaware 0 0 0 0 0 0 0 0 0 Washington, DC 181,868 0 227,685 7,072 2,000 33,022 781 0 452,427 Florida 0 37,393 0 3,362 3,240 2,397 1,703 15,885 63,981 Georgia 1,715 0 35,515 13,440 77,787 2,595 0 0 131,052 Hawaii 0 0 0 0 0 0 0 0 0 Idaho 0 0 0 0 0 375 0 0 375 Illinois 0 185 5,490 0 12,069 71 0 527 18,342 Indiana 0 0 0 17,642 4 16,604 88 0 34,337 Iowa 0 589 0 0 0 0 0 0 589 Kansas 0 516 9,174 0 43,163 0 500 0 53,353 Kentucky 0 0 1,237 0 366 602 2,997 0 5,202 Louisiana 0 350 1,051 0 0 0 118 0 1,519 Maine 0 0 0 482 69 2,290 0 0 2,840 Maryland 0 659 0 0 14,989 0 $3,357 0 19,005 Massachusetts 0 0 0 0 0 0 0 842 842 Michigan 571 1,501 0 8,252 520 0 150 3,036 14,030 Minnesota 0 750 178 0 6,355 0 100 0 7,383 Mississippi 0 0 0 0 0 0 285 0 285 Missouri 0 8,845 0 1,562 4,058 19,552 22,635 838 57,490 Montana 0 3,396 2,116 0 278 0 0 460 6,250 Nebraska 3,740 0 3,199 0 0 0 714 0 7,653 Nevada 0 4,466 1,657 2,655 8,859 0 0 104 17,741 New Hampshire 0 0 60 0 0 0 0 0 60 New Jersey 0 0 0 1,964 0 2,575 0 0 4,539 New Mexico 0 0 1,000 0 0 2,500 0 3,000 6,500 New York 0 0 23,550 0 0 0 22,126 0 45,676 North Carolina 0 2,022 0 0 590 0 0 0 2,612 17 State 2011 2012 2013 2014 2015 2016 2017 2018* Total North Dakota 0 0 0 0 0 0 0 0 0 Ohio 0 3,696 11,173 1,500 1,697 0 0 2,158 20,225 Oklahoma 0 5,724 4,427 19,825 4,335 0 3,001 0 37,312 Oregon 0 967 312 0 3,806 0 0 0 5,086 Pennsylvania 0 3,506 0 1,735 0 0 0 0 5,241 Puerto Rico 0 7,233 0 15,335 0 0 262 0 22,830 Rhode Island 0 0 0 776 0 0 0 80 856 South Carolina 0 1,630 0 0 500 0 0 0 2,130 South Dakota 0 0 0 0 1,600 0 3,903 0 5,503 Tennessee 0 0 0 0 0 0 225 0 225 Texas 0 256,815 42,979 5,208 199,592 4,278 4,816 0 513,688 Utah 0 2,119 90,089 0 0 0 0 0 92,209 Vermont 0 0 500 0 0 0 0 0 500 Virgin Islands 0 0 0 0 0 0 0 0 0 Virginia 0 9,712 0 0 0 0 0 0 9,712 Washington 0 24,848 3,085 0 0 0 0 0 27,933 West Virginia 0 0 0 0 9 0 0 0 9 Wisconsin 0 2,000 0 0 0 0 0 0 2,000 Wyoming 0 8 0 0 40 0 0 0 48 Total State 195,219 394,865 467,273 317,864 389,512 86,861 67,761 26,931 1,946,286 *The 2018 collections are as of April 25, 2018. 18 Appendix E HUD’s Current Unclaimed Property by State Property Complete No State Date listing Properties Value response response*** only* Alabama 1/19/2018 X 0 $0 Alaska 1/17/2018 X 1 328 Arizona 3/15/2018 X 28 Arkansas 1/24/2018 X 14 4,562 California X Colorado 3/7/2018 X 167 237,808 Connecticut 2/6/2018 X 7 10,988 Delaware 2/5/2018 X 9 Washington, 1/17/2018 X 57 11,222 DC Florida 2/15/2018 X 18 Georgia 2/14/2018 X 77 31,808 Hawaii 3/22/2018 X 1 14 Idaho 3/23/2018 X 6 Illinois 4/24/2018 X 68 84,984 Indiana 3/22/2018 X 32 19,152 Iowa 4/27/2018 X 35 10,811 Kansas 3/22/2018 X 14 10,583 Kentucky 4/25/2018 X 5 1,894 Louisiana 1/31/2018 X** 15 9,267 Maine 3/23/2018 X 3 4,986 Maryland 4/4/2018 X 105 73,920 Massachusetts 4/12/2018 X 12 23,104 Michigan 4/20/2018 X 27 35,894 Minnesota 4/12/2018 X 94 60,819 Mississippi 4/6/2018 X 15 1,215 Missouri 5/30/2018 X 93 Montana 5/4/2018 X 1 200 Nebraska 4/5/2018 X 4 1,108 Nevada 4/16/2018 X 27 13,124 New 4/20/2018 X 23 104,797 Hampshire New Jersey X 19 Property Complete No State Date Listing Properties Value Response Response*** Only* New Mexico 5/31/2018 X 39 9,038 New York 4/9/2018 X 275 380,487 North Carolina 4/13/2018 X 102 116,532 North Dakota 4/13/2018 X 5 4,531 Ohio 5/15/2018 X 363 259,456 Oklahoma 5/9/2018 X 96 99,850 Oregon 4/13/2018 X 49 8,296 Pennsylvania 4/27/2018 X 107 104,629 Puerto Rico 4/17/2018 X 7 2,517 Rhode Island 5/31/2018 X 3 718 South Carolina 4/17/2018 X 32 13,578 South Dakota 4/11/2018 X 4 2,236 Tennessee 4/17/2018 X 19 9,390 Texas 4/9/2018 X 250 302,741 Utah 5/31/2018 X 15 Vermont 4/30/2018 X 0 0 Virgin Islands 6/14/2018 X 0 0 Virginia 5/30/2018 X 130 70,700 Washington 5/23/2018 X 67 8,379 West Virginia 4/10/2018 X 9 5,224 Wisconsin 4/6/2018 X 5 4,303 Wyoming 5/2/2018 X 1 1,000 Totals 45 6 2 2,536 2,156,191 *Delaware, Idaho, and Missouri asserted that State law prevented them from disclosing amounts. **Louisiana asserted that State law prevented it from disclosing certain HUD properties. ***Due to time considerations, we did not continue pursuing the data from these two states, but HUD should pursue it in the future. 20
HUD's Office of the Chief Financial Officer Did Not Locate or Recover Its Funds Held by State Unclaimed Property Administrators
Published by the Department of Housing and Urban Development, Office of Inspector General on 2018-08-07.
Below is a raw (and likely hideous) rendition of the original report. (PDF)