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California Department of Finance

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California Department of Finance
Seal of the Department of Finance
Agency overview
Headquarters915 L Street, Sacramento, California
Annual budget$83 million (2019-20)
Agency executive
  • Joe Stephenshaw, Finance Director
Websitedof.ca.gov

The California Department of Finance is a state cabinet-level agency within the government of California.[1] 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 Constitution of California 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 Joe Stephenshaw and is a member of Governor Gavin Newsom's cabinet. Stephenshaw was appointed the department's director in July 2022 by Governor Newsom.[2]

Units within the department

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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 State 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)
  • Financial Information System for California Project

Finance directors

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Picture Director[3] Term Governor
Alexander Heron July 29, 1927–January 30, 1930 C. C. Young
Lyman King January 31, 1930–January 5, 1931
Rolland Vandegrift January 6, 1931–August 30, 1934 James Rolph
Frank Merriam
Arlin Stockburger January 31, 1935–January 1, 1939 Frank Merriam
Phil S. Gibson January 2, 1939–October 1, 1939 Culbert Olson
John R. Richards October 2, 1939–September 10, 1940
George Killion September 11, 1940–January 3, 1943
John Hassler January 4, 1943–January 31, 1944 Earl Warren
James S. Dean February 1, 1944–October 30, 1953 Earl Warren
Goodwin Knight
John Pierce November 1, 1953–July 14, 1958 Goodwin Knight
T. H. Mugford July 15, 1958–January 4, 1959
Bert Levit January 5, 1959–July 31, 1959 Pat Brown
John E. Carr August 1, 1959–June 30, 1961
Hale Champion July 1, 1961–January 1, 1967
Gordon P. Smith January 2, 1967–February 29, 1968 Ronald Reagan
Caspar Weinberger March 1, 1968–December 31, 1969
Verne Orr January 1, 1970–January 5, 1975
Roy M. Bell January 6, 1975–November 30, 1978 Jerry Brown
Richard Silberman December 1, 1978–August 20, 1979
Mary Ann Graves August 21, 1979–December 31, 1982
Michael Franchetti January 3, 1983–January 3, 1984 George Deukmejian
Jesse Huff January 4, 1984–December 25, 1990
Thomas W. Hayes January 7, 1991–July 31, 1993 Pete Wilson
Russell Gould August 1, 1993–February 24, 1996
Craig Brown March 4, 1996–December 30, 1998
B. Timothy Gage January 4, 1999–January 17, 2003 Gray Davis
Stephen Peace January 1, 2003–November 16, 2003
Donna Arduin November 17, 2003–October 18, 2004 Arnold Schwarzenegger
Tom Campbell December 1, 2004–November 10, 2005
Michael Genest December 1, 2005–December 14, 2009
Ana J. Matosantos December 31, 2009–December 7, 2010
Cynthia Bryant December 7, 2010–January 2, 2011
Ana J. Matosantos January 3, 2011–September 13, 2013 Jerry Brown
Michael Cohen September 14, 2013–August 20, 2018
Keely Martin Bosler August 21, 2018–July 31, 2022 Jerry Brown
Gavin Newsom
Joe Stephenshaw August 1, 2022–Present Gavin Newsom

See also

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References

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  1. ^ "Governmental Role of the Department of Finance". www.dof.ca.gov. Retrieved 2019-11-11.
  2. ^ "Finance Director Keely Bosler to Depart, New Finance Director Appointed 7.1.22". California Governor. 2022-07-01. Retrieved 2022-09-13.
  3. ^ "Finance Directors (1927 – Present)". State of California Department of Finance. State of California. Retrieved 22 March 2023.
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