Alabama Treasurer Young Boozer speaks at Tuscaloosa Exchange Club

AL Treasurer on the state's economy
AL Treasurer on the state's economy
Published: Oct. 7, 2022 at 10:35 AM CDT
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BIRMINGHAM, Ala. (WBRC) - The Treasurer for the state of Alabama visited Tuscaloosa Thursday. Alabama Treasurer Young Boozer spoke during a luncheon of the Tuscaloosa Exchange Club. The group invited him to speak about Alabama’s economy and what the state’s financial outlook could look like in the near future.

Boozer is basically Alabama’s banker. He joked about his name, then talked dollars and cents and why Alabama could weather a stormy future of higher interest rates and a potential recession.

Boozer told the audience an influx of federal money puts Alabama on firm financial footing. In 2019, Boozer said he managed a treasury fund for Alabama worth $3.6 billion dollars. As of last Thursday, that amount ballooned to $11.6 billion. Boozer credited that increase to an influx of cash from the federal government during the coronavirus pandemic.

“The funds that we get naturally from the economy of the state of Alabama are up over the last couple of years So we’ve got a really good economy operating here. It’s generating cash flow for the state of Alabama. And then we have an extraordinary on top of that. That’ll be for those federal programs that’ll be worked on the next few years,” Boozer explained.

The state treasurer also talked about more than a $1 billion in unclaimed property in Alabama. That could include money, stocks, bonds or even something you left in safe deposit years ago. The state treasury manages that. Boozer says anyone can go online and check if there’s any unclaimed property in their name.

All you have to do is go to www.treasury.alabama.gov and tap the unclaimed property button. Then type in your name and city and see if the treasury has unclaimed property for you.

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