Outagamie County Fair
The Outagamie County Fair has certainly been eventful! So far, I’ve helped people locate around $7,500, and have had the opportunity meet many new friends in Northeast Wisconsin.
The fair takes place in Seymour, WI, a town with a lot of history. In 1885, Charlie Nagreen invented the modern hamburger at the Outagamie County fair in Seymour by putting a hamburger steak between 2 slices of bread, allowing fairgoers to eat while walking the fairgrounds. Each year Seymour celebrates this momentous event by holding “Burgerfest”. This year (the 23rd year of the festival), Hamburgerfest will be held on August 6th, and will feature a ketchup slide, a parade, a car show, and of course, a hamburger eating contest.
Eating fair food, including hamburgers, has been only one of this week’s enjoyable activities. I’ve also had the opportunity to visit with State Representative Gary Tauchen, Green Bay Packer Hall of Famer David Robinson, and many of the 4-H kids who worked so hard raising animals and making crafts to show at the fair.
If you get a chance, please visit my staff and I in the commercial building at the Outagamie County Fair. We will be here until tomorrow evening at 7 P.M. With over 1 million unclaimed property accounts, it’s likely that you or someone you know will have money owed to them. Stop by and claim it!
The Economy & You #6 – Who Owns the U.S. Debt?
In my previous article and talked about the difference between the deficit and the debt and how our nation’s debt is the accumulation of all yearly deficits (and surpluses) we accrue.
According to the Office of Debt Management, theUnited Stateshad $14.27 trillion of debt in March 2011. This debt is broken down into two parts. Debt held by the federal government or in government trust funds, like Social Security. These are considered intergovernmental holdings. The remaining debt is labeled as privately held federal debt. Privately held debt includes foreign and domestic ownership of federal debt securities (Treasury notes, bonds, etc.).
We know that our nation’s debt is approximately $14.3 trillion, but who do we owe that money to? If you listen to recent news stories you would think thatChinaowns most of it. This is not the case. Over 41% of our nation’s debt is held by our own government while 58% is held privately. Of the privately held debt which totals over $8.3 trillion, over $4.4 trillion (53.84%) is held by foreigners. As a total less than one-third of our nation’s debt is held by foreigners. In other words, we owe the debt to ourselves.
The following link illustrates how the U.S.debt is primarily owed to ourselves. In fact the government held the majority of our nation’s debt until 2008.
So when people start saying thatChinamost of our national debt, you can tell them the real story. For more information about our national debt, visit the Bureau of Public Debt, which is part of the U.S. Department of the Treasury. The website address is www.publicdebt.treas.gov
The Economy and You #5: The Debt vs. the Deficit-What’s the Difference?
As the political gamesmanship continues in our nation’s capitol, I thought it might be helpful to explain the difference between our national debt and the deficit.
The deficit is the difference between what the federal government takes in (receipts) and what it spends (outlays). Seems pretty simple, if you spend more than what you get, you have a deficit.
Government receipts include the various taxes and fees that the government collects as well as other income. Government outlays include all federal spending which consists of social security, Medicare, defense spending and all other spending by the various federal agencies whether it be the EPA, Department of Education, or NASA. Federal spending also includes interest payments on our federal debt.
When the government runs a deficit, it must borrow to finance that deficit. To borrow, the federal government sells government securities to the public and government trust funds (also called intergovernmental holdings) through the U.S. Treasury Department. The Treasury sells securities like Treasury bills (T-bills), Treasury notes, Treasury bonds, Treasury Inflation Protected securities (TIPS) and savings bonds. These securities promise to pay a certain amount with interest at a future date in return for money to pay its current expenditures. This borrowing increases the federal debt which can be thought of as the total accumulation of deficits minus any surpluses over time. It is important to distinguish between the deficit and the debt. If theU.S.were to have no deficit this year (which is not the case), we would still have a national debt.
Over time, our national debt has continued to rise as the annual federal deficit continues year after year. We, as a country, continue to spend more than we take in. We have all seen stories about the National Debt Clock. Our current national debt is approximately $14.3 Trillion!!
Our national debt continues to rise because our government continues to approve budgets with deficits. Here is an interesting graphic that illustrates a $1.27 trillion deficit for the proposed 2011 budget.
In my next article I will outline who owns our national debt because it is important to know who we owe money to.
$1.5 Million for Beloit from the Board of Commissioners of Public Lands
I will present a check to the City of Beloit for $1.5 million that will be used by the City for capital improvements and equipment. The money comes from the Board of Commissioners of Public Lands State Trust Fund Loan Program.
I, along with Secretary of State Doug LaFollette and Attorney General J.B. Van Hollen make up the Board of Commissioners of Public Lands.
The BCPL State Trust Fund Loan Program is one of the best programs we have in State Government. By helping local communities with these loans, the state is investing in itself.”
Check Presentation
Monday, August 1, 2011
10:00 AM
VisionBeloitCenter
500 Public Avenue
Created in 1848 by Article X, Section 2 of the Wisconsin Constitution, the Board of Commissioners of Public Lands was established to accept federal land grants and to manage trust funds for the benefit of public education inWisconsin. BCPL invests the principal of the Common School Fund in loans to municipalities and school districts through the BCPL State Trust Fund Loan Program. These funds are used for public purpose projects including school repairs and improvements, economic development, capital equipment and vehicles, local infrastructure, and refinancing existing debt to reduce future borrowing costs.
In addition, over 95% of the earnings from the Common School Fund are distributed to K-12 school libraries annually. School districts may use the funds to purchase books, audiovisual materials, computer equipment and software, and newspapers and periodicals for their library. A total of $33.6 million has been distributed to public school libraries in 2011.
Related articles
- Unclaimed Property and your public school libraries (wistatetreasury.wordpress.com)
Get Your Money Faster from the State Treasury!
We’ve made claiming YOUR money from the State a lot easier recently. You can now bypass several steps in the claims process when it comes to unclaimed property if the amount of your claim is below a certain cash value. It involves inputting personal information into our system via our secure website.
If you go to www.statetreasury.wisconsin.gov and click on the “Begin Your Search Here” icon (or just click that link now to be taken there), you will be taken to the Unclaimed Property Database that holds more than 1.2 million properties worth more than $395 million to search. If you find your name and click to make a claim, if the amount you are claiming is under $750, you can input your information, including your Social Security number, into the system and your claim is “fast tracked”. That means if the Social Security number, address or birth-date matches the one we have here on file for you, you get your money much faster than if you print up the paperwork and send it in. The time difference could be 6 weeks or more!
Image via Wikipedia
We are well aware of concerns with using Social Security Numbers online. Our system is very secure and we will need your SS Number no matter what to process the claim. Many of the assets turned over to the office are given to us with SS Numbers attached. This is how we determine if you are the person who is supposed to be getting the money in the first place! We may already have your SS Number…we just need to confirm it’s you!
Make sure to check the database once a year even if you have lived in the same place for 5, 10, 15 or even 20 years! We get assets from holders all the time with your current address on them from companies you still do business with!
Related articles
- Success on the Road Returning Cash! (wistatetreasury.wordpress.com)
- State Treasury on Pace to Shatter Unclaimed Property Record (wistatetreasury.wordpress.com)
Claim Your Cash at the Fair!
State Treasurer Kurt Schuller and staff from the State Treasurer’s Office will bring the Unclaimed Property Database to the Outagamie County Fair in Seymour Tuesday July 25th thru Sunday July 31st.
Last week, Treasurer Schuller met with more than 1,100 people at the Northern Wisconsin State Fair and is in the process of returning more than $2,000 to those who found their names in the system. Many of the people he met had no clue the State ofWisconsin was holding their money or money that belonged to a deceased loved one. By filing out claim forms with Treasurer Schuller or Treasury staff, the process is easier and faster!
After the Outagamie County Fair, the Treasurer and the Unclaimed Property Database will be heading to West Allis to continue the nearly 20 year tradition of helping people claim money at the State Fair! You can find our booth in the Expo Center, in the same spot…across from the Wisconsin State Lottery! We will be there August 4th thru the 14th ready to help the thousands of people who want to see if they are missing their own cash!
State Treasurer Schuller/Unclaimed Property Fair Schedule
Outagamie County Fair
637 North Main St
Seymour, WI
July 25th-July 31st
http://www.outagamiecountyfair.com/
Wisconsin State Fair
640 South 84th Street
West Allis, WI
August 4th-August 14th
http://www.wistatefair.com/11_web/
Related articles
- Wisconsin Through the Windshield – Northern Wisconsin State Fair (wistatetreasury.wordpress.com)
- Local Fairs – helping take agriculture into the next generation (wistatetreasury.wordpress.com)
- State Treasury on Pace to Shatter Unclaimed Property Record (wistatetreasury.wordpress.com)
July eBay Auction About to Begin!
31 Lots of coins, jewerly and some interesting items from safe deposit boxes will go up for auction on eBay starting at 12pm Sunday July 24th.
Of interest will be the 8 lots of gold coins – 1 Krugerand, 7 $50 American Eagles. With the price of gold these days and the interest in these kinds of coins, we are sure prices will be high for the items. Remember, all money made on this auction is returned to the unclaimed property fund waiting for the rightful owner or the owner’s heirs to claim it.
I get asked all the time, how can someone forget they have a safe deposit box with valuables inside. Most of the time, the people who own the box pass away and since the rent is no longer paid, the bank deems it abandoned and sends the contents to us (after 5 years). A lot of people never tell family members or loved ones about a safe deposit box. When they pass, all of the stuff inside comes to our office and we can only hold onto it for a certain amount of time. We don’t have a large vault to hold all the boxes we get from every single bank in the state of Wisconsin every year.
This is an important conversation to have with an elderly loved one; not only about safe deposit boxes but about other assets that could be “lost” after death and then get transferred to our office. Most, if not all, of the assets we receive could actually be taken care of prior to becoming unclaimed property if families would talk about finances prior to a family members death.
A note of interest in this month’s auction: Lot 21J – an old Minolta film camera and a Motorola “Digital Personal Communicator AKA cell phone. We got a kick out of the old cell phone and how big it is compared to what we use today.
Related articles
- Gold & Silver Sales Shatter eBay Auction Record (wistatetreasury.wordpress.com)
EdVest Changes Make Saving for College Easier
Earlier this month, Edvest, the Wisconsin College Savings Plan, announced several changes.
“The addition of three index portfolios provides more low-cost options for plan participants, which makes saving for college easier for Wisconsin families,” said Wisconsin’s 529 College Savings Program Director Jim DiUlio. “We are very excited about these enhancements to EdVest.”
Three new portfolios result in index options across nearly all asset classes
A new Vanguard International Index Portfolio has been added to the EdVest plan. The portfolio invests entirely in the Vanguard Total International Stock Index Fund, providing a 100% international index investment option. In addition, the existing Baird Bond Portfolio and Legg Mason Aggressive Portfolio have been transformed into low-cost index portfolios. The Baird Bond Portfolio has become the Vanguard Bond Index Portfolio, and the Legg Mason Aggressive Portfolio has become the Vanguard Small Cap Index Portfolio. These two shifts result in reductions to underlying fund expenses of nearly 23 basis points and 71 basis points, respectively (100 basis points equals 1.00%).
“We consider any opportunity to reduce expenses as a significant benefit to families working toward their goal of affording a higher education for their children,” said Sarah Henriksen, vice president of education planning with Wells Fargo Funds Management. “Collectively, these changes add up to an estimated savings of more than $500,000 per year for existing investors combined.”
With these changes, EdVest now offers five low-cost Vanguard options that cover international, domestic, fixed-income, and balanced asset classes to complement the Wells Fargo diversified portfolios currently available in the plan.
Actively managed portfolios reallocated to help capture emerging markets opportunities
The underlying investments in the four Wells Fargo-blended portfolios with an equity component have been reallocated to gain direct exposure to emerging markets. Emerging markets have proven to be one of the few sources of robust economic growth over the past 10 years. They contributed more than 50% to global growth in the late 2000s and have seen their share of global gross domestic product increase from 24% to more than 35% over the past five years. Emerging markets provide a way to add additional economic diversification while maintaining a level of volatility that has generally been consistent with domestic small-cap stocks.
To learn more about EdVest, please visit EdVest.com, where you can find detailed information about the program, request an enrollment kit, or even enroll online. If you would like to speak with an EdVest specialist, please call 1-888-EdVest-WI (1-888-338-3789). Representatives are available 24 hours a day, 7 days a week.
EdVest portfolios may invest in stock and bond investments. Stock investment values fluctuate in response to the activities of individual companies and general market and economic conditions. Bond investment values fluctuate in response to the financial condition of individual issuers, general market and economic conditions, and changes in interest rates. In general, when interest rates rise, bond investment values fall and investors may lose principal value. Foreign investments are especially volatile and can
rise or fall dramatically due to differences in the political and economic conditions of the host country. These risks are generally intensified in emerging markets. Consult a program description for additional information on these and other risks. There is no guarantee that an account will grow enough to cover higher education expenses.
An investor’s or a designated beneficiary’s home state may offer state tax or other benefits that are only available for investments in that state’s qualified tuition program. Please consider this before investing.
For more complete information about EdVest, obtain a current program description by calling 1-888-338-3789, visiting EdVest.com, or contacting your investment professional. Consider the investment objectives, risks, charges, and expenses of the investment carefully before investing. This and other information about EdVest can be found in a current program description. Please read it carefully before investing.
Related articles
- Investing in Your Children’s Future Takes a Few Clicks and 5 Minutes: EdVest College Savings (wistatetreasury.wordpress.com)
- 529′s and Financial Aid Sessions at NAST Symposium (wistatetreasury.wordpress.com)
Treasury Notes July 2011
Click here for Treasury Notes for July 2011
This month’s newsletter includes:
Current financial information on LGIP, EdVest and Unclaimed property
The Economy and You – The Unemployment Rate
What you’re missing if you aren’t following the Treasury eBay Auction monthly
Wisconsin Through the Windshield – Northern Wisconsin State Fair
I spent last week in Chippewa Falls at the Northern Wisconsin State Fair. This was the first fair of the season for us as we expand out outreach to try to hit venues where we can get the most people to search their names in the Unclaimed Property Database.
As with all fairs, this was a “community event” in that friends and families got together for reunions, to see what their neighbors are doing, to check out new products and see what the kids are doing in 4-H to continue the American agriculture tradition.
We met with more than 1,000 people who searched for themselves as well as for relatives in the database. More than 50 people found themselves and began the claim process-an easy process when we can meet them, copy their driver’s license and notarize their documents. A lot of the claims were $50 or less, but we did have a few above $500 and two for more than $1,000.
One gentleman found a family friend in Chippewa Falls who has $50,000 coming to her. But, he didn’t have her current phone number or any way to get a hold of her. I quickly jumped on the internet to try and find her information and, through my Facebook page discovered a friend was friends with the lady’s daughter! My Community Services Specialist as well as Claims Specialist back at the office in Madison was able to find her other daughter’s phone number and we quickly started calling and leaving messages for them to call us or the office to try and get a hold of “mom” so we can get her this sizable chunk of change! We are hoping to hear from them this week!
This is why we go on the road and perform outreach: even with our website where people can search the database 24/7, there’s nothing better than face-to-face contact for us to get people thinking about their own forgotten cash as well as those of relatives, living or deceased.
Next stop – the Outagamie County Fair next Tuesday thru Sunday and after that, 11 days at the Wisconsin State Fair! See you there!
http://www.youtube.com/user/TheWIStateTreasury – Here’s a story done by WEAU on our visit to the Fair!
Related articles
- Wisconsin through the Windshield 6/22/11 (wistatetreasury.wordpress.com)
- Wisconsin through the Windshield 7/12 – UW-Milwaukee (wistatetreasury.wordpress.com)
- Wisconsin Through the Windshield (wistatetreasury.wordpress.com)
- Local Fairs – helping take agriculture into the next generation (wistatetreasury.wordpress.com)
- Wisconsin through the Windshield 2 (wistatetreasury.wordpress.com)
- Wisconsin Through the Windshield: June 6, 2011 (wistatetreasury.wordpress.com)
- Wisconsin through the Windshield 6/27-28 (wistatetreasury.wordpress.com)
- Wisconsin through the Windshield June 8-15. (wistatetreasury.wordpress.com)
- State Treasury on Pace to Shatter Unclaimed Property Record (wistatetreasury.wordpress.com)
Wisconsin through the Windshield 7/12 – UW-Milwaukee
On Tuesday, I had the pleasure of holding an Unclaimed Property event for members of the staff at UW-Milwaukee, and I look forward to returning this October to help folks find unclaimed property at the UW-Milwaukee benefits fair on October 5th.
I was invited to both UW-Milwaukee events by Barb Willkomm, UW-M’s Worker’s Compensation Coordinator in the Human Resources Department. I appreciated Barb’s invitation, and I know that the UW-M employees who found money were glad that we were there. I would love hold similar events at other colleges and businesses in Wisconsin.
Local Fairs – helping take agriculture into the next generation
Tonight I’m at the Northern Wisconsin State Fair in Chippewa Falls helping to reunite people with their unclaimed property. Being at the fair is always a fun experience, and being here tonight reminds me of the importance that fairs play in the life of a community.
With dairy and beef months taking place respectively in June and July, it’s obvious how critically important agriculture is to the State of Wisconsin’s economy and culture. Fairs, especially 4-H fairs, not only bring a community together, they also highlight the accomplishments of local youth in agriculture.
It’s important that we continue to teach the next generation about raising fruits, vegetables, and livestock, and local fairs help to do that by providing a showcase and a market for our childrens’ agricultural accomplishments.
So the next time you’re at the fair, make sure to take in the full experience, and remember to teach the next generation about Wisconsin’s unique farming heritage.
July is beef month!
Summer in Wisconsin is a beautiful, but short time of year. We have a lot of fun to cram into 3 months, and that includes watching parades, listening to concerts, fishing for walleye, visiting state parks, attending baseball games, and of course, grilling out. Summer just wouldn’t be complete without cookouts, and neither cookouts nor the state of Wisconsin would be complete without beef.
Not only does beef (especially lean beef) contain a great deal of nutritional value, it also holds substantial economic value for Wisconsin. According to Angela Horkan of the Wisconsin Beef Council, our state is 11th in the nation for total red meat production, and beef produces over $12 billion in economic impact annually.
Their are over 14,500 beef producers and, as of 2008, over 3.35 million total cattle in the State of Wisconsin. Every year Wisconsin produces over 2.2 billion pounds of beef. If you’re interested in finding new and tasty ways to prepare Wisconsin beef, please write to the Wisconsin Beef Council (address below – be sure to include a #10 self-addressed, stamped envelope) to get your free copy of “Get Your Grill On”, a recipe brochure.
Wisconsin Beef Council
Get Your Grill On!
632 Grand Canyon Dr.
Madison, WI 53719
Upcoming Fair Schedule
Over the next several weeks my staff and I will be hitting the fair circuit to promote our Unclaimed Property program. Below, I have listed the fair name, host city, and dates that my office will be represented.
Northern Wisconsin State Fair – Chippewa Falls – July 13-17
Outagamie County Fair – Seymour – July 26-31
Wisconsin State Fair – West Allis – August 4-14
Brown County Fair – DePere – August 18-21
Central Wisconsin State Fair – Marshfield – August 31 – September 5
See you at the fair!
Ho-Chunk Nation Oath of Office Ceremony
Yesterday, I had the honor of attending the Ho-Chunk Nation Oath of Office Ceremony in Black River Falls. It was a very special ceremony, filled with emotion and gravitas, as 7 new officials accepted the responsibilities entrusted to them by the Ho-Chunk people.
Music was provided by the Bear Heart and Little Thunder Singers throughout the ceremony, and the several hundred assembled members of the Ho-Chunk Nation had the chance to hear many speakers, including immediate past President Wilfred Cleveland, the first Ho-Chunk President to serve a full term under the current tribal constitution.
Congratulations and best wishes to the following new Ho-Chunk Nation officials:
President Jon Greendeer
District 1 Legislator Susan Weber
District 2 Legislator Andrea Estebo
District 3 Legislator Elena Terry
District 4 Legislator Shelby Visintin
District 5 Legislator Forrest Whiterabbit
Supreme Court Associate Justice #2 Todd R. Matha
State Treasury on Pace to Shatter Unclaimed Property Record
In the first 6 months of 2011, the Unclaimed Property Unit of the Office of State Treasurer has returned $17,977,130 to Wisconsin residents and others who realized they had forgotten money and decided to claim it. In the first 6 months of 2010, the Office had returned $15,605,107.
We are more than $2 million ahead of last year’s numbers and are certainly on pace to break last year’s record return of $32,836,258. I meet with a lot of people around the state who have no idea we are holding their money and want to give it back to them!”
The Unclaimed Property Unit processed 3,122 claims in June, the largest amount of claims processed in one month so far this year. I have been on the road since April with the Unclaimed Property Database, helping people search the more than 1.8 million properties and see if any of the $391 million we are holding is theirs to claim!
I will be in hitting several county fairs in the next few weeks and will also be at the Wisconsin State Fair in August with the Unclaimed Property Database. Anyone can stop by, search their name, and possibly start the claim process if they find themselves on the database. Below is the upcoming fair schedule.
State Treasurer Schuller’s July Outreach Schedule
July 13th-17th
Chippewa Falls
Northern Wisconsin State Fair
http://www.norwisstatefair.com/
July 26th-31st
Seymour
Outagamie County Fair
http://www.outagamiecountyfair.com/
Related articles
- Unclaimed Property and your public school libraries (wistatetreasury.wordpress.com)
- Gold & Silver Sales Shatter eBay Auction Record (wistatetreasury.wordpress.com)
- Wisconsin Through the Windshield: June 6, 2011 (wistatetreasury.wordpress.com)
- The New Era of Public Outreach and Awareness (wistatetreasury.wordpress.com)
- Wisconsin through the Windshield 6/22/11 (wistatetreasury.wordpress.com)
The Climate Change Debate
One of the most important points learned last week at the 6th Annual International Climate Change Conference is that there is little or no disagreement between scientists about whether the planet goes through warming and cooling cycles.
Data going back hundreds of years clearly bears that out. The issue that causes the debate between both sides is whether man, through the emission of what are commonly called greenhouse gasses, specifically CO2, is tilting the process towards a dangerous and threatening level.
Aside from my responsibility of 75,000 acres of public land in the State ofWisconsin, I also foresee higher energy prices should current law remain. It is a requirement that 20% of our energy come from renewable energy. I am not against the use of renewable energy, but want to know if there is a cost benefit component to this existing law that makes more economic sense.
Interestingly enough I learned that water vapor, over which man has no control, makes up 70% of total greenhouse gasses. I also learned that there has been no funding to investigate the possible natural causes of global warming such as the increase of solar activity – the solar cycle spans 11 years.
The conference featured presenters on both sides of the climate change issue; both sides offering their views as to what may or may not be causing the patterns we are seeing. I will continue to study this issue and gather information from many sources as I seek to more clearly understand this contentious issue.
Related articles
- Sixth International Conference on Climate Change (wistatetreasury.wordpress.com)
Wisconsin’s State Parks: More than a Hundred Years of Memories
As we approach the 4thof July holiday, I want to take a moment to look at the history of Wisconsin’s State Parks. There are a lot there are a lot of Wisconsinites heading to the parks this weekend and a good amount of people from Illinois and Iowa are crossing into our state to enjoy our treasurers. We know Minnesotans are heading to the northern Wisconsin parks since a state government shut-down there over failure to pass a budget has their park system closing; unfortunate for Minnesota, beneficial for us!
Image via Wikipedia
The Wisconsin State Parks program, the first in the entire country, tried to kick off in 1878 but the plan fell apart. In 1900, the state began acquiring land for Interstate Park on the St. Croix River. Slowly, but surely, a land board was created, and other state parks started forming; the park system as we know it erupted in the 1910’s as the State Conservation Commission formed. Wisconsin currently has 66 state park units, covering more than 60,570 acres!
14 million people visit our state parks every year and the Wisconsin Department of Natural Resources is charged with maintaining the parks. It does so via fees for usage and state taxes. The fees provide for operational costs and educational programs. If you like to spend any amount of time in a state park, the $25 admission sticker for your car isn’t a huge amount to invest to ensure the park is there for future generations. From July 2010 to May 2011, car sticker fees provided nearly $12 million to the park system. You can get more information on admission fees by clicking here. The DNR is also provided with a Stewardship Fund to help preserve our natural resources. Stewardship lands anchor a good portion of the state’s economy — from the $13 billion tourism business to the $22 billion forestry industry and the state’s $4 billion hunting and fishing investment.
Go out and enjoy your great state this weekend…and make sure to help keep the public lands preserved for your kids, their kids and generations beyond that.
Wisconsin State Treasury 
You must be logged in to post a comment.