California Treasurer
| California Treasurer | |
 | |
| General information | |
| Office Type: | Partisan |
| Office website: | Official Link |
| Compensation: | $174,843 |
| 2024 FY Budget: | $44,466,000 |
| Term limits: | 2 terms |
| Structure | |
| Length of term: | 4 years |
| Authority: | California Constitution, Article 5, Section 11 |
| Selection Method: | Elected |
| Current Officeholder | |
California Treasurer
Fiona Ma | |
| Elections | |
| Next election: | November 3, 2026 |
| Last election: | November 8, 2022 |
| Other California Executive Offices | |
| Governor • Lieutenant Governor • Secretary of State • Attorney General • Treasurer • Auditor • Controller • Superintendent of Public Instruction • Agriculture Secretary • Insurance Commissioner • Natural Resources Secretary • Industrial Relations Director • Public Utilities Commission | |
The Treasurer of the State of California is an elected state executive office in the government of California. The treasurer acts as the chief investment officer, banker, and financier of the state government and is responsible for managing the state's pooled money investment account. The treasurer also sits on the boards of the state's employee pension funds—the California Public Employees' Retirement System (CalPERS) and the California State Teachers' Retirement System (CalSTRS). The treasurer's office finances various public work and investment programs throughout the state and oversees the California ScholarShare Investment Board (SIB), which provides tax-advantaged college savings plans.
Current officeholder
The current treasurer is Fiona Ma (D), who was first elected to the position on November 6, 2018. She assumed office on January 7, 2019.[1]
Authority
The office of treasurer is established by the California Constitution.[2]
California Constitution, Article 5, Section 11
|
The Lieutenant Governor, Attorney General, Controller, Secretary of State, and Treasurer shall be elected at the same time and places and for the same term as the Governor. |
Qualifications
Although there are no office-specific requirements for the office, each candidate for treasurer must:[3]
- Be a registered voter
- Be registered with their party for at least three months
- Not have been registered with a different political party in the last 12 months
- Not have been previously term-limited out
Elections
Treasurers are elected on the first Tuesday after the first Monday in federal midterm election years (e.g. 2018, 2022, 2026, etc.).[4] Like all constitutional state officers, the treasurer assumes office on the first Monday in the new year following the election.[2]
California Constitution, Article 5, Section 11
|
The Lieutenant Governor, Attorney General, Controller, Secretary of State, and Treasurer shall be elected at the same time and places and for the same term as the Governor. No Lieutenant Governor, Attorney General, Controller, Treasurer, or Treasurer may serve in the same office for more than 2 terms. |
2022
- See also: California Treasurer election, 2022
General election
General election for California Treasurer
Incumbent Fiona Ma defeated Jack Guerrero in the general election for California Treasurer on November 8, 2022.
Candidate | % | Votes | ||
| ✔ |  | Fiona Ma (D) | 58.8 | 6,287,076 |
 | Jack Guerrero (R) | 41.2 | 4,405,781 | |
| Total votes: 10,692,857 | |||
 = candidate completed the Ballotpedia Candidate Connection survey. | ||||
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Nonpartisan primary election
Nonpartisan primary for California Treasurer
Incumbent Fiona Ma and Jack Guerrero defeated Andrew Do and Meghann Adams in the primary for California Treasurer on June 7, 2022.
Candidate | % | Votes | ||
| ✔ | | Fiona Ma (D) | 57.4 | 3,903,967 |
| ✔ | | Jack Guerrero (R) | 21.9 | 1,489,533 |
 | Andrew Do (R) | 17.0 | 1,157,620 | |
| Meghann Adams (Peace and Freedom Party) | 3.6 | 245,369 | |
| Total votes: 6,796,489 | |||
| = candidate completed the Ballotpedia Candidate Connection survey. | ||||
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2018
- See also: California Treasurer election, 2018
General election
General election for California Treasurer
Fiona Ma defeated Greg Conlon in the general election for California Treasurer on November 6, 2018.
Candidate | % | Votes | ||
| ✔ | | Fiona Ma (D) | 64.1 | 7,825,587 |
 | Greg Conlon (R) | 35.9 | 4,376,816 | |
| Total votes: 12,202,403 (100.00% precincts reporting) | |||
| = candidate completed the Ballotpedia Candidate Connection survey. | ||||
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Nonpartisan primary election
Nonpartisan primary for California Treasurer
Fiona Ma and Greg Conlon defeated Jack Guerrero, Vivek Viswanathan, and Kevin Akin in the primary for California Treasurer on June 5, 2018.
Candidate | % | Votes | ||
| ✔ | | Fiona Ma (D) | 44.5 | 2,900,606 |
| ✔ | | Greg Conlon (R) | 20.8 | 1,357,635 |
| Jack Guerrero (R) | 19.3 | 1,257,315 | |
 | Vivek Viswanathan (D) | 13.0 | 848,026 | |
 | Kevin Akin (Peace and Freedom Party) | 2.3 | 148,282 | |
| Total votes: 6,511,864 | |||
| = candidate completed the Ballotpedia Candidate Connection survey. | ||||
| If you are a candidate and would like to tell readers and voters more about why they should vote for you, complete the Ballotpedia Candidate Connection Survey. | ||||
Do you want a spreadsheet of this type of data? Contact our sales team. | ||||
2014
| Treasurer of California, 2014 | ||||
|---|---|---|---|---|
| Party | Candidate | Vote % | Votes | |
| Democratic |  John Chiang |
58.8% | 4,176,793 | |
| Republican | Greg Conlon | 41.2% | 2,925,895 | |
| Total Votes | 7,102,688 | |||
| Election results via California Secretary of State | ||||
Term limits
Per Article 5, Section 11 of the California Constitution, treasurers face an absolute limit of two terms in office.
California Constitution, Article V, Section 11:
| The Lieutenant Governor, Attorney General, Controller, Secretary of State, and Treasurer shall be elected at the same time and places and for the same term as the Governor. No Lieutenant Governor, Attorney General, Controller, Secretary of State, or Treasurer may serve in the same office for more than 2 terms. |
Vacancies
The vacancy procedure for the office of treasurer is determined by the California Constitution. When a vacancy occurs, the governor nominates a replacement to serve the remainder of the term until the next election. The appointee must be confirmed by a majority of both houses of the legislature. Until the replacement is approved, the former officeholder's chief deputy exercises the office.[5]
California Constitution, Article 5, Section 5b
|
Whenever there is a vacancy in the office of the Superintendent of Public Instruction, the Lieutenant Governor, Secretary of State, Controller, Treasurer, or Attorney General, or on the State Board of Equalization, the Governor shall nominate a person to fill the vacancy who shall take office upon confirmation by a majority of the membership of the Senate and a majority of the membership of the Assembly and who shall hold office for the balance of the unexpired term. In the event the nominee is neither confirmed nor refused confirmation by both the Senate and the Assembly within 90 days of the submission of the nomination, the nominee shall take office as if he or she had been confirmed by a majority of the Senate and Assembly; provided, that if such 90-day period ends during a recess of the Legislature, the period shall be extended until the sixth day following the day on which the Legislature reconvenes. |
Duties
The treasurer is directed by state code to "receive and keep in the vaults of the State Treasury or deposit in banks or credit unions all moneys belonging to the state..."[6] He disburses funds to cover state expenditures based on warrants from the controller's office, approves state bond issuances, and manages the state's investments, including state employee pension funds.
Beyond his administrative duties, the treasurer chairs various state boards and commissions, including the California Alternative Energy and Advanced Transportation Financing Authority to the California Tax Credit Allocation Committee, and sits as a member of other committees. For a full list of those board, commission, and committee responsibilities, click here.
Divisions
As of January 12, 2021, divisions within the Treasurer's Office included:[7]
- Administration
- Centralized Treasury and Securities Management
- Communications
- Information Technology
- Investments
- Public Finance
State budget
- See also: California state budget and finances
The budget for the California Treasurer's office in Fiscal Year 2023-2024 was $44,466,000.[8]
Compensation
- See also: Compensation of state executive officers
The salaries of California's elected executives are determined by the California Citizens Compensation Commission, a seven-member board appointed by the governor to six-year terms. The commission was established after voters passed Proposition 112, an amendment to the California Constitution, in 1990. Commissioners meet prior to June 30 of each year to determine salary recommendations with changes effective the following December. From 2001 to 2013, the commission voted to increase salaries or benefits five times and decreased or made no changes to salaries eight times.[9]
2022
In 2022, the officer's salary was $174,843, according to the Council of State Governments.[10]
2021
In 2021, the treasurer received a salary of $167,796, according to the Council of State Governments.[11]
2020
In 2020, the treasurer received a salary of $167,796 according to the Council of State Governments.[12]
2019
In 2019, the treasurer received a salary of $161,342 according to the Council of State Governments.[13]
2018
In 2018, the treasurer received a salary of $156,643 according to the Council of State Governments.[14]
2017
In 2017, the treasurer received a salary of $152,081 according to the Council of State Governments.[15]
2016
In 2016, the treasurer received a salary of $146,232 according to the Council of State Governments.[16]
2015
In 2015, the treasurer received a salary of $141,973 according to the Council of State Governments.[17]
2014
In 2014, the treasurer received a salary of $139,189 according to the Council of State Governments.[18]
2013
In 2013, the treasurer received a salary of $139,189. This figure comes from the Council of State Governments.[19]
2010
In 2010, the treasurer received compensation in the amount of $139,189.[20]
Historical officeholders
| List of officeholders from 1849-Present[21] | |||||
|---|---|---|---|---|---|
| # | Name | Tenure | Party | ||
| 1 | Richard Roman | 1849-1854 |  Democratic
| ||
| 2 | Selden A. McMeans | 1854-1856 | Democratic
| ||
| 3 | Henry Bates | 1856-1857 |  American Independent Party
| ||
| 4 | James L. English | 1857-1858 | American Independent Party
| ||
| 5 | Thomas Findley | 1858-1862 | Democratic
| ||
| 6 | Delos R. Ashley | 1862-1863 |  Republican
| ||
| 7 | Romualdo Pacheco | 1863-1867 | Republican
| ||
| 8 | Antonio F. Coronel | 1867-1871 | Democratic
| ||
| 9 | Ferdinand Baehr | 1871-1875 | Republican
| ||
| 10 | Jose G. Estudillo | 1875-1880 | Democratic
| ||
| 11 | John Well | 1880-1883 | Republican
| ||
| 12 | William A. January | 1883-1884 | Democratic
| ||
| 13 | D. J. Oullahan | 1884-1887 | Democratic
| ||
| 14 | Adam Herold | 1887-1891 | Democratic
| ||
| 15 | J. R. McDonald | 1891-1895 | Republican
| ||
| 16 | Levi Rackliffe | 1895-1898 | Republican
| ||
| 17 | Will S. Green | 1898-1890 | Democratic
| ||
| 18 | Truman Reeves | 1899-1907 | Republican
| ||
| 19 | William R. Williams | 1907-1911 | Republican
| ||
| 20 | E. D. Roberts | 1911-1915 | Republican
| ||
| 21 | Friend Wm. Richardson | 1915-1923 |  Progressive Democratic Party
| ||
| 22 | Charles G. Johnson | 1923-1956 | Republican
| ||
| 23 | Ronald A. Button | 1956-1959 | Republican
| ||
| 24 | Bert A. Betts | 1959-1967 | Democratic
| ||
| 25 | Ivy Baker Priest | 1967-1975 | Republican
| ||
| 26 | Jesse M. Unruh | 1975-1987 | Democratic
| ||
| 27 | Thomas Hayes | 1989-1991 | Republican
| ||
| 28 | Kathleen Brown | 1991-1995 | Democratic
| ||
| 29 | Matt Fong | 1995-1999 | Republican
| ||
| 30 | Phil Angelides | 1999-2007 | Democratic
| ||
| 31 | Bill Lockyer | 2007-2015 | Democratic
| ||
| 32 | John Chiang | 2015-2019 | Democratic
| ||
| 33 | Fiona Ma | 2019-present | Democratic
| ||
Recent news
The link below is to the most recent stories in a Google news search for the terms California Treasurer Chiang. These results are automatically generated from Google. Ballotpedia does not curate or endorse these articles.
Contact information
Physical address:
California State Treasurer's Office
915 Capitol Mall C-15
Sacramento, CA 95814
Phone: (916) 653-2995
See also
| California | State Executive Elections | News and Analysis |
|---|---|---|
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External links
Footnotes
- ↑ California Treasurer, "Biography," accessed January 12, 2021
- ↑ 2.0 2.1 California Constitution, "Article 5, Section 11," accessed January 12, 2021
- ↑ California Secretary of State, "Summary of Qualifications and Requirements for the Offices of Secretary of State, Controller, and Treasurer," accessed January 12, 2021
- ↑ California Elections Code, "Sections 1001-1003," accessed January 12, 2021
- ↑ California Constitution, "Article 5, Section 5b," accessed June 27, 2011
- ↑ California Government Code, "Title 2, Division 3, Part 2, Chapter 4, Article 2," accessed January 12, 2021
- ↑ California Treasurer, "Divisions and Offices," accessed January 12, 2021
- ↑ California Budget, "2023-24 Budget - 0950 State Treasurer," accessed December 6, 2023
- ↑ California Citizens Compensation Commission, "About the Commission," accessed January 12, 2021
- ↑ Council of State Governments, "Book of the States 2022 Table 4.11: Selected State Administrative Officials: Annual Salaries," provided to Ballotpedia by CSG personnel
- ↑ Issuu, "The Book of the States 2021," accessed September 22, 2022
- ↑ Council of State Governments, "The Book of the States 2020," accessed January 12, 2021
- ↑ Council of State Governments, "The Book of the States 2019," accessed January 12, 2021
- ↑ Council of State Governments, "The Book of the States 2018," accessed January 12, 2021
- ↑ Council of State Governments, "The Book of the States 2017," accessed January 12, 2021
- ↑ Council of State Governments, "Selected State Administrative Officials: Annual Salaries, 2016," accessed August 27, 2016
- ↑ Council of State Governments, "Selected State Administrative Officials: Annual Salaries, 2015," accessed August 27, 2016
- ↑ Council of State Governments, "Selected State Administrative Officials: Annual Salaries," accessed November 14, 2014
- ↑ The Council of State Governments, "Book of the States 2013, Table 4.11," accessed February 2, 2014
- ↑ Council of State Governments, "Book of the States 2010 -- Table 4.11," accessed June 23, 2011
- ↑ California Secretary of State, "History of California Constitutional Officers," accessed January 12, 2021
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