Treasurer Allison Ball Says 2018 Was Arguably the Most Successful Year in Treasury History

ALLISON BALL

Kentucky State Treasurer Allison Ball’s reputation for getting things done continued in 2018. Treasurer Ball’s continued success included several significant achievements, such as pushing Kentucky’s national transparency ranking into the top 10 due to her government transparency reforms, as well as adding to the already historic unclaimed property returns by reaching over $70 million in monies returned to Kentuckians over the past three years.  That is the most in Treasury history during a three-year period.

“I am proud of the work we have accomplished at the Treasury this year,” Treasurer Ball said. “In 2018 we successfully implemented new programs to help Kentuckians and continued to revitalize and improve our processes. It is arguably the most successful year the Treasury has ever had.”

In 2018, Treasurer Ball saw great success through her legislative agenda, as well.

STABLE Kentucky, a savings and investment program for Kentuckians with disabilities launched by Treasurer Ball in 2016, now enjoys tax-free treatment at the state level. Additionally, Treasurer Ball successfully advocated for a change in the law that would permit the rollover of funds from a 529 Education Savings Account to a STABLE Kentucky Account.

Treasurer Ball also revamped unclaimed property processes at the Treasury, including modernizing unclaimed property laws that had not been updated in decades. These changes, including an online reporting tool for businesses, will make reporting and claiming unclaimed property easier for businesses and individuals.

An outspoken proponent for improved financial literacy in Kentucky, Treasurer Ball also supported HB 132 during the General Assembly’s 2018 session. This law makes a financial literacy course or program a high school graduation requirement. She also launched Kentucky’s Financial Empowerment Coalition and Database in 2018. The Database is the first-of-its-kind in Kentucky and serves as a resource for educators implementing HB 132.

Ball’s success as Treasurer continued to gain national attention in 2018, as well. She earned the role of National Chair of the State Financial Officers Foundation (SFOF), a national organization for state financial officials. In April, she will bring state financial officers from across the country to Kentucky for SFOF’s national conference. She was also selected as a Rodel Fellow in 2018, a prestigious program for America’s rising political stars, and she participated in Governing’s Women in Government program with other notable female political leaders from across the country. The Kentucky State Treasury also stopped over $5 million in fraud attempts on the Commonwealth before Christmas—an act that gained national media attention.

2018 was a year of great personal celebration for Treasurer Ball, as well. The year brought the birth of her first child, a son named Levi. Levi’s birth was historic as it made Treasurer Ball the first Kentucky Constitutional Officer to give birth while in office.

Following three successful years in office, Treasurer Ball says she looks forward to the opportunity to continue the trend in 2019.

“I am looking forward to the opportunities this new year brings,” Treasurer Ball said. “I have plans to continue building upon our previous successes. In 2019 we will work hard to continue improving financial literacy in Kentucky, streamlining unclaimed property processes, and strengthening the STABLE Kentucky program.”

To learn more about the Treasurer’s initiatives and priorities, please visit www.treasury.ky.gov.

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