California Department of Finance

Agency within the government of California

California Department of Finance

Seal of the Department of Finance

Agency overview
Headquarters| 915 L Street, Sacramento, California
Annual budget| $83 million (2019-20)
Agency executive|

* Joe Stephenshaw, Finance Director

Website| dof.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

[edit]

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

[edit]

* Economy of California
* California State Treasurer
* California State Controller

## References

[edit]

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

## External links

[edit]

* Official website
* Investment in the California Code of Regulations
* Department of Finance's Population Estimate Methodology
* 2014-2015 Proposed California Budget

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