California Department of Finance
Encyclopedia
The California Department of Finance is a state cabinet
-level agency within the government of California
. The Department of Finance is responsible for preparing, explaining, and administering the state’s annual financial plan, which the Governor of California
is required under the California Constitution
to present by January 10 of each year to the general public. The Department of Finance's other duties include analyzing the budgets of proposed laws in the California State Legislature
, creating and monitoring current and future economic forecasts of the state, estimating population demographics and enrollment projections, and maintaining the state's accounting and financial reporting systems.
The current Director of Finance is Ana Matosantos, and is a member of Governor Jerry Brown's
cabinet. Matosantos has been the Department's director since December 31, 2009. Matosantos succeeded Michael Genest after his resignation was tendered to then Governor Arnold Schwarzenegger
on December 14, 2009. Genest served as the Department's director from December 1, 2005 to December 14, 2009.
Cabinet (government)
A Cabinet is a body of high ranking government officials, typically representing the executive branch. It can also sometimes be referred to as the Council of Ministers, an Executive Council, or an Executive Committee.- Overview :...
-level agency within the government of California
Government of California
The government of California operates in the context of a democratic republic with three branches of government: the executive branch consisting of the Governor of California and the other elected constitutional officers; the legislative branch consisting of the California State Legislature which...
. The Department of Finance is responsible for preparing, explaining, and administering the state’s annual financial plan, which the Governor of California
Governor of California
The Governor of California is the chief executive of the California state government, whose responsibilities include making annual State of the State addresses to the California State Legislature, submitting the budget, and ensuring that state laws are enforced...
is required under the California Constitution
California Constitution
The document that establishes and describes the duties, powers, structure and function of the government of the U.S. state of California. The original constitution, adopted in November 1849 in advance of California attaining U.S. statehood in 1850, was superseded by the current constitution, which...
to present by January 10 of each year to the general public. The Department of Finance's other duties include analyzing the budgets of proposed laws in the California State Legislature
California State Legislature
The California State Legislature is the state legislature of the U.S. state of California. It is a bicameral body consisting of the lower house, the California State Assembly, with 80 members, and the upper house, the California State Senate, with 40 members...
, creating and monitoring current and future economic forecasts of the state, estimating population demographics and enrollment projections, and maintaining the state's accounting and financial reporting systems.
The current Director of Finance is Ana Matosantos, and is a member of Governor Jerry Brown's
Jerry Brown
Edmund Gerald "Jerry" Brown, Jr. is an American politician. Brown served as the 34th Governor of California , and is currently serving as the 39th California Governor...
cabinet. Matosantos has been the Department's director since December 31, 2009. Matosantos succeeded Michael Genest after his resignation was tendered to then Governor Arnold Schwarzenegger
Arnold Schwarzenegger
Arnold Alois Schwarzenegger is an Austrian-American former professional bodybuilder, actor, businessman, investor, and politician. Schwarzenegger served as the 38th Governor of California from 2003 until 2011....
on December 14, 2009. Genest served as the Department's director from December 1, 2005 to December 14, 2009.
Units within the department
There are nine Financial Units within the Department of Finance, administering the agency's various duties within the state government:- Budget Operations Support (BOS)
- Legislative Analyses
- California Accounting and Reporting System (CALSTARS): Accounting
- Demographic Research Unit (DRU)
- Economic/Financial Research Unit (ER/FR)
- Fiscal Systems and Consulting Unit (FSCU)
- Office of State Audits and Evaluations (OSAE)
- Performance Review Unit (PRU)
- Statewide Systems Development Unit (SSDU)
See also
- Economy of CaliforniaEconomy of CaliforniaCalifornia's economy is the eighth largest economy in the world, if the states of the U.S. were compared with other countries. As of 2010, the gross state product is about $1.9 trillion, which is 13% of the United States gross domestic product...
- California State TreasurerCalifornia State TreasurerThe California State Treasurer is responsible for the state's investment and finance. The post has more narrow responsibilities and authority than the California State Controller...
- California State ControllerCalifornia State ControllerThe State Controller is the Chief Financial Officer of the State of California in the United States. The post has broader responsibilities and authority than the California State Treasurer...