Treasurer Joe Perry shared key financial figures today for the month of October.
The State of Maine Cash Pool represents investments permissible by Maine Statute: Title 5: Administrative Procedures and Services, Part 1: State Departments, Chapter 7: Treasurer of State, Section 135, and consists of excess money in the State Treasury that is 'not needed to meet current obligations'. The State funds and funds of component units of the State are pooled and invested by the Treasurer's Office; generally most securities are held to maturity or called when the par value of the security is received.
The Budget Stabilization Fund (sometimes referred to as the Rainy Day Fund) was created in 2003.
The Budget Stabilization Fund acts as the State of Maine’s savings account. It is a reserve balance that is set aside in good economic times to protect the state budget from the volatile changes in revenues that can occur when the economy unexpectedly slows. The goal of the Fund is to reduce the effect on the operation and services of state government and prevent policymakers from increasing taxes during sudden economic downturns.
Revenue Sharing is distributed per Title 30-A, Subpart 9, Chapter 223, Subchapter 2, Section 5681, by the 20th of each month to each municipality based on a formula whose variables include municipal populations, state valuations and tax assessments. The monthly revenue sharing pool is funded by setting aside a percentage of the State Government's sales, service provider, personal and corporate income tax receipts for the month. For a detailed description of how the funds are calculated and distributed, please see the Calculate Revenue Sharing. October’s distribution was $30,622,187.20. (September’s distribution was 23,897,100.84; October 2024’s distribution was $29,554,587.42 ).
Unclaimed Property consists of money and other financial assets that are considered lost or abandoned when an owner cannot be located after a specified period of time of inactivity. It includes items such as bank accounts, uncashed checks, life insurance policies, unpaid wages, stocks and dividends, refunds, and safe deposit box contents. Unclaimed Property does not include real estate, animals or vehicles.
Each and every year, tens of millions of dollars go unclaimed by Maine residents. These financial assets are turned over by thousands of national and local businesses and organizations by a law called MRSA Title 33, Chapter 45: Maine Revised Unclaimed Property Act. http://legislature.maine.gov/statutes/33/title33ch45sec0.html. The Treasurer’s office holds these assets, free of charge, until claimed by the owner or heir. The State is currently holding approximately $368,000,000 in unclaimed property. In the month of October, 1,383 claims were made against unclaimed property totaling $1,560,665.72 (9,384 properties paid). Highest single payment in October 2025 was for $102,998 (Escrow Funds). Last October 2024, 1,266 claims were paid for $1,456,416.20 (3,306 properties paid),and in September of 2025 (last month), 1,401 claims were made totaling $1,345778.63 (3,482 properties paid).
SPECIAL FEATURE: Maine Treasurer Seeks to Connect Maine Veterans with Resources and Unclaimed Property
According to the Maine Bureau of Veterans’ Services (MBVS), Maine has a long-standing history of military service and despite it being a very rural state, it is home to over 106,000 veterans, roughly 10% of the state’s overall population. In honor of Veterans’ Day, the Maine Office of the State Treasurer (OST) is reminding Maine veterans about available resources, and sharing information about recent veteran-related activity in unclaimed property.
OST runs the state’s unclaimed property program, which currently holds over $364 million in 6 million accounts of unclaimed property that belongs to Maine citizens. This includes money and other financial assets that are considered lost or abandoned when an owner cannot be located after a specified period of time of inactivity.
Treasurer Joseph Perry said, “Maine has a high population of veterans, and we are reaching out to them as part of Veteran’s Day to let them know they may have unclaimed property in our care.” In addition to $364 million, the Treasurer’s Office also has several military medals, pins, dog tags, and bars. “We’d love to these military items back into the hands of their rightful owners,” Perry said.
In honor of veterans, OST recently scanned its accounts and found over 20 veteran-related/veteran-supporting organizations that have unclaimed property, representing well over $30,000. Outreach to these organizations has been productive. “We’ve begun reaching out to these organizations to help reunite them with amounts as much as over $6,000 and as little as $25,” said Treasurer Perry. To see if you or your organization has unclaimed property go to, www.maineunclaimedproperty.gov.
The Office of the Maine Treasurer also oversees Maine’s ABLE Program. The ABLE ME Program is established and maintained by the Maine State Treasurer in accordance with Applicable Law and administered by Bangor Savings Bank. The ABLE ME Program (also referred to as “ABLE ME”) is designed to help eligible individuals with disabilities save for certain qualified disability expenses on a tax-advantaged basis without jeopardizing eligibility for federal means-tested benefits, such as Supplemental Security Income and Medicaid. The ABLE ME Program is intended to operate as a qualified ABLE program, pursuant to Internal Revenue Code Section 529A, that was adopted as part of The Stephen Beck, Jr., Achieving a Better Life Experience Act of 2014, as amended. This federal law authorizes states and state instrumentalities, such as the Maine State Treasurer, to establish and maintain qualified ABLE programs.
Effective January 1, 2026, the ABLE Age Adjustment Act will expand ABLE account eligibility for veterans whose disability began before age 46, a change from the previous age limit of 26. This change, which is expected to include about one million disabled veterans, allows them to save money in a tax-advantaged account while protecting benefits like Medicaid and VA payments. To qualify, veterans must meet the age of onset criteria and either receive Social Security disability benefits or provide a doctor's certification of a disability that began before age 46.
Veteran’s Day puts the spotlight on veterans and their families, and the Bureau of Veterans Services’ goal is to be a one-stop resource for all of veterans’ information needs and to offer exceptional advocacy for Maine’s veterans. They strive to provide streamlined services to Maine’s veterans. Whether it is a request for filing a claim for a service-connected disability or a question about other state or federal benefits. Their mission is to serve, and their staff is here to assist all of Maine’s veterans.
Below is the list of organizations that have unclaimed property in Maine:
American Cold War Veterans Inc - Under $25
Back Woods Veterans Outreach - Under $25
Dept of Veteran Affairs - Over $100
Disabled American Veterans - Over $8,000
Help Hospitalized Veterans - Over $25
Maine Veterans Home - Over $25
Paralyzed Veterans (of America) - Over $25
Togus Veterans Hospital - Over $1,000
Veteran s Affairs News - Over $25
Veterans Memorial Hospital - Over $25
Veterans Assistance Foundation - Under $25
Veterans Choice Programs VACAA - Over $25
Veterans Memorial Post 205 - Under $25
Veterans of Foreign Wars (Waterville) - Over $100
Veterans of WWI Aux 2333 (Nobleboro) - Over $25
Veterans Variety - Over $100
Fearless Nation PTSD Support - Over $25
American Legions (multiple from around the state)
American Red Cross - Over $25
AMVETS (South Portland, Augusta, Yarmouth, Biddeford, Sanford, Woolwich, & Jay)
Maine Army National Guard - Over $500
Salvation Army - Over $100
Gold Star Wives of America - Over $300
Wounded Warrior Project - Over $3,000
Augusta Area Military Association – Over $10,000
Military Officers Association of America - Over $1,000
About the Office of the Treasurer: the Office of the Treasurer of State is established in Article V, Part Third of the Constitution of the State of Maine. The core duties of the Treasurer’s Office are debt management, cash management, trust fund administration and unclaimed property administration. Other major tasks assigned to the Treasurer are directorships on many of Maine’s quasi-governmental debt issuing agencies and distributions under the Municipal Revenue Sharing Program.
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