California State Treasurer
Fiona Ma is California’s 34th State Treasurer. She was elected on November 6, 2018 with more votes (7,825,587) than any other candidate for treasurer in the state's history. She is the first woman of color and the first woman Certified Public Accountant (CPA) elected to the position. California is the world’s fifth-largest economy and Treasurer Ma is the state’s primary banker. Her office processes more than $2 trillion in payments within a typical year and provides transparency and oversight for an investment portfolio of more than $90 billion, approximately $20 billion of which are local government funds. She also is responsible for $85 billion in outstanding general obligation and lease revenue bonds of the state. The Treasurer works closely with the State Legislature to ensure that its members know the state’s financial condition as they consider new legislation. She gives her own recommendations for the annual budget. Treasurer Ma was a member of the State Assembly from 2006-2012, serving as Speaker pro Tempore from 2010 to 2012. She built a reputation as a solution-oriented public servant and was adept at building unlikely coalitions to overcome California's most complex problems. Prior to serving as Speaker pro Tempore, she was Assembly Majority Whip and built coalitions during a state budget crisis to pass groundbreaking legislation that protected public education and the environment while also expanding access to health care.