What Is the Role of the California State Treasurer?

Discover the pivotal role of the California State Treasurer's office in our latest explainer video. Established in 1849, the Treasurer oversees the financial helm of the world's fifth-largest global economy. Led by Ms. Fiona Ma, the Treasurer ensures fiscal responsibility and economic prosperity, managing trillions in payments annually and overseeing an investment portfolio exceeding $124 billion. Dive deep into the Treasurer's multifaceted responsibilities and learn how they shape California's economic landscape.

California State Treasurer

The California State Treasurer's office is central to the state's fiscal responsibility and economic prosperity and was established in 1849 by the California Constitution. Currently held by Ms. Fiona Ma, a Democrat elected on November 6, 2018, the Treasurer oversees the financial course of the world's fifth-largest global economy. With trillions in payments processed annually, The treasurer is the primary banker, ensuring transparency and oversight for an investment portfolio exceeding $124 billion.

As the state's chief banker, The treasurer manages California's cash flows, coordinates banking services across state government, and safeguards public funds. Responsible for issuing and managing public debt, the treasurer serves as trustee, registrar, and paying agent for all general obligation and revenue bonds contracted by the state. Additionally, the treasurer oversees the investment of state funds, chairs the Tax Credit Allocation Committee, and serves on the California Housing Finance Agency board, contributing to the financing of affordable housing projects.

Moreover, the treasurer chairs or serves on numerous boards and commissions, particularly those related to the issuance and management of bonds. These bonds finance a wide array of significant projects, ranging from pollution clean-up and transportation infrastructure to renewable energy development, wildlife conservation, economic development, and support for small businesses, nonprofits, and healthcare facilities.

The Treasurer's multifaceted responsibilities underscore her intricate role in shaping the economic landscape of one of the world's largest economies.

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