New Explainer Video: California State Controller
Discover the pivotal role of the California State Controller's Office in managing the state's finances and fostering economic stability. Led by Democrat Malia M. Cohen, the Controller oversees a myriad of financial functions crucial to the world's fifth-largest economy. Learn about the Controller's responsibilities, including accounting, internal auditing, unclaimed property administration, and supervision of local government finances. Explore how the Controller's actions shape California's fiscal landscape and ensure transparency and accountability in economic governance.
California State Controller
At the core of California's fiscal operations is the State Controller’s Office, currently led by Democrat Malia M. Cohen. As a key figure in the state's financial management, the Controller oversees the complex workings of the world's fifth-largest economy. Elected every four years as a constitutional official, each Controller’s term significantly influences the office, contributing to its resilience and economic balance. Thirty-three individuals have held the office of state controller since statehood.
The Controller acts as the state's accountant. This entails maintaining the statewide accounting system, issuing reports on the financial condition of the state, approving claims against the state, administering payroll for state employees, ordering deposits into the state treasury, and drawing checks and approving electronic fund transfers. The Controller is the internal auditor of California state government, examining the internal controls of state agencies, the state lottery, and oil and gas lease royalties to assure operational effectiveness and efficiency, reliable financial reporting, and legal compliance. The Controller administers California's unclaimed property laws and audits holders of unclaimed property, safeguards unclaimed property reported to her office, and works to return unclaimed property back to its rightful owners.
The Controller sits on a number of key state boards and commissions that manage state assets including the California State Lands Commission, California State Teachers’ Retirement System, California Public Employees’ Retirement System, California Board of Equalization, California Franchise Tax Board, to name a few. The Controller also supervises local government finances. As part of this function, the state controller has broad discretion to audit state funds spent by local governments and prescribes uniform accounting, budgeting, and financial reporting systems applicable to nearly 5,000 counties, cities, towns, school districts, local housing authorities, rural development authorities, and all other political subdivisions of the state. Likewise, the Controller reviews the annual financial and single audits performed by external auditors on behalf of California's local governments for conformity with the law and government auditing standards. Separately, the Controller collects, apportions, and distributes property taxes and other state aids among the many counties, cities, towns, and school districts.
The Controller’s impact extends across the broader fiscal landscape, with a focus on transparency and accountability as fundamental principles of California's economic governance. The role of the Controller remains fundamental in the state's financial structure, contributing significantly to economic stability and growth.
Need help dealing with California lawmakers or regulators? Contact us for a free consultation or for information on proposals to represent you.