California Department of Finance

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 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.

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 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 Picture Director Term Governor Alexander HeronJuly 29, 1927 – January 30, 1930C. C. Young Lyman KingJanuary 31, 1930 – January 5, 1931 Rolland VandegriftJanuary 6, 1931 – August 30, 1934James RolphFrank Merriam Arlin StockburgerJanuary 31, 1935 – January 1, 1939Frank MerriamPhil S. GibsonJanuary 2, 1939 – October 1, 1939Culbert OlsonJohn R. RichardsOctober 2, 1939 – September 10, 1940George KillionSeptember 11, 1940 – January 3, 1943John HasslerJanuary 4, 1943 – January 31, 1944Earl WarrenJames S. DeanFebruary 1, 1944 – October 30, 1953Earl WarrenGoodwin KnightJohn PierceNovember 1, 1953 – July 14, 1958Goodwin KnightT. H. MugfordJuly 15, 1958 – January 4, 1959Bert LevitJanuary 5, 1959 – July 31, 1959Pat BrownJohn E. CarrAugust 1, 1959 – June 30, 1961Hale ChampionJuly 1, 1961 – January 1, 1967Gordon P. SmithJanuary 2, 1967 – February 29, 1968Ronald ReaganCaspar WeinbergerMarch 1, 1968 – December 31, 1969Verne OrrJanuary 1, 1970 – January 5, 1975Roy M. BellJanuary 6, 1975 – November 30, 1978Jerry BrownRichard SilbermanDecember 1, 1978 – August 20, 1979Mary Ann GravesAugust 21, 1979 – December 31, 1982Michael FranchettiJanuary 3, 1983 – January 3, 1984George DeukmejianJesse HuffJanuary 4, 1984 – December 25, 1990Thomas W. HayesJanuary 7, 1991 – July 31, 1993Pete WilsonRussell GouldAugust 1, 1993 – February 24, 1996Craig BrownMarch 4, 1996 – December 30, 1998B. Timothy GageJanuary 4, 1999 – January 17, 2003Gray DavisStephen PeaceJanuary 1, 2003 – November 16, 2003Donna ArduinNovember 17, 2003 – October 18, 2004Arnold SchwarzeneggerTom CampbellDecember 1, 2004 – November 10, 2005Michael GenestDecember 1, 2005 – December 14, 2009Ana J. MatosantosDecember 31, 2009 – December 7, 2010Cynthia BryantDecember 7, 2010 – January 2, 2011Ana J. MatosantosJanuary 3, 2011 – September 13, 2013Jerry BrownMichael CohenSeptember 14, 2013 – August 20, 2018Keely Martin BoslerAugust 21, 2018 – July 31, 2022Jerry BrownGavin NewsomJoe StephenshawAugust 1, 2022–PresentGavin Newsom

California Department of Finance

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