oversight

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)

      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.




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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.




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