november 2022 VOTER GUIDE

TREASURER

What is the State Treasurer?

  • Oversees the state’s Pooled Money Investment Account, investing money on behalf of the state and local jurisdictions

  • Awards low-cost, tax-exempt financing for housing, economic development and student loans, plus hundreds of millions of dollars in tax credits for affordable housing

  • Serves on many boards and commissions, including the state’s two largest public pension funds: the California Public Employees’ Retirement System and California State Teachers’ Retirement System

  • Monitors schools and higher education facilities, transportation projects, parks and environmental projects

  • Can serve up to two four-year terms

  • The salary and benefits of this full-time position total $204,000 per year

Why You Should Care

The Treasurer is essentially the state’s chief investment officer and needs to be acutely fiscally responsible and aware of market conditions. They’re responsible for billions of dollars in workers’ pension funds.

Our Vision for the Office

The Treasurer should, like the Controller, have demonstrated their mastery of finances and budgeting. They should espouse a hard-nosed pragmatism.

Fiona Ma

Why vote for her: Fiona Ma has a long and well-respected track record of public service and is the incumbent Treasurer, having served since 2019. She has been extremely effective in bettering the state’s financial health, facilitating a major upgrade in our state’s bond ratings. Ma’s work refinancing most of the state’s bond debt led to lower interest rates, “resulting in lower annual costs” according to the California Legislative Analyst’s Office. Ma was a member of the California Board of Equalization from 2015 to 2019, the California State Assembly (2006–2012), and the San Francisco Board of Supervisors (2002–2006). Ma has earned her second term and will continue delivering for California and San Francisco.

Paid for by TogetherSF Action. Not authorized by any candidate or a committee controlled by a candidate. Financial disclosures are available at sfethics.org.

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