Unclaimed property is now fully operational in its new home on the second floor of the State Capitol building. The move eliminates rental expenses, promotes cross-utilization of staff and provides an easily identifiable and convenient location for property owners.
In addition to our current attempts to inform the public, this month we begin supplementing those efforts with new branding across multiple media outlets. Due to the hundreds of thousands of Oklahomans with unclaimed property and the high cost of employing heir finders, mass media is the more cost-effective method of reuniting most rightful owners with their property. All media cost will be paid from unclaimed property monies and not taxpayer dollars.
Because people respond to incentives, we have injected private-sector principles into our reunification efforts. To help meet our objective of increasing dollars returned, unclaimed property staff compensation is now based on performance; more dollars returned means more dollars earned. This groundbreaking, results-oriented approach is well suited for a state serious about returning unclaimed property.
We at the state treasury are excited to implement these changes as part of our ongoing efforts to improve the efficiency and productivity of our operations for the benefit of all Oklahomans.