The State Treasurer determines the amount of State funds not needed for current operating expenses and invests those funds in interest-bearing time deposits in Missouri banks, United States Treasury and federal agency securities, repurchase agreements, banker's acceptances and top-rated commercial paper. Safety is the State Treasurer's number one priority in the investment of the public's funds. Staff investment specialists monitor major investment markets, and work to maximize the State's return on investments without compromising safety. The State Treasurer's Office has an average of $3.1 billion invested daily, earning the State millions of dollars in interest income each year.

The State Treasurer's Office is responsible for Missouri's largest "lost and found," the State's Unclaimed Property program. State law requires financial institutions, insurance companies, public agencies and other business entities to turn over assets that belong to a customer, client, employee or other rightful owner if there have been no documented transactions or contact with the owner for five or more years. The State Treasurer's Office operates an aggressive program to return unclaimed assets to the original owners or their legal heirs. Most unclaimed property consists of cash from bank accounts, stocks, bonds and contents of safe deposit boxes that have been abandoned. It also can include uncollected insurance policy proceeds, government refunds, utility deposits and wages from past jobs. The Unclaimed Property program does not handle real property such as land, houses, cars and boats.

The office currently is holding more than $550 million in unclaimed property and funds in more than 3 million owner accounts. All unclaimed property is held in trust by the State forever and can be claimed at any time. To recover unclaimed property, claimants must be either the original owner of the property or a legal heir. All services of the Unclaimed Property program are free of charge. People can check to see if the State Treasurer's Office is holding unclaimed property that may belong to them using its searchable database here or by going to http://www.showmemoney.com.

The State Treasurer serves as Missouri government's banking director. While not a bank itself, the State Treasurer's Office must authorize payments and balance accounts. To protect taxpayers' money, the State Treasurer maintains a separate accounting system to provide a check and balance on the State accounting system, and distributes investment earnings to the proper funds. The State Treasurer's Office contracts with Missouri banks to process the State's receipts and disbursements, handle money and security transfers, report on the State's accounts' activities and provide related banking services, such as data processing. Bidding for State Banking Services contracts is open to Missouri banks.