The State Treasurer is the official banker of the state directed to keep up with all state finances and expenditures. The office is responsible for overseeing the vaults of the State Treasury, deposit banks, and credit unions. Managing investments (including state employee pension funds) and approving state bonds also fall under the jurisdiction of the State Treasurer.
There are three candidates on the ballot for the office: Ellen Brown, Greg Conlon, and John Chiang. Ellen Brown is an attorney as well as an author, and she is running as a Green Party representative. Of the 12 books she has written, two are concerning issues dealing with public banking. Brown is also the president and chair of the Public Banking Institute, giving her experience in dealing with handling public dollars.
Greg Conlon is a CPA (Certified Public Accountant) and has been a senior partner in a Big Five accounting firm for about 30 years. He has extensive experience in state government serving as president of the California Public Utilities Commission, as well as the commissioner on the California Transportation Commission. Conlon also helped the city of Atherton manage and protect its financial integrity during his time as chair of the Atherton Finance Committee.
The final candidate, John Chiang, was elected State Controller in 2006 and then reelected for a second term in 2010. The office of State Controller works very closely with the State Treasurer to manage the finances of the state. Chiang has developed auditing programs that have uncovered nearly $8 billion in misspent public funds and taxes, which has led to him being dubbed the “$8 Billion Dollar Man.” While serving as State Controller, he also helped Californians recover more than $2.5 billion in funds. Chiang has shown a history of operating as a fiscal watchdog, ensuring that all spending and state finances stay under control and in plain sight, which helps the office maintain accountability for any misspending.
The state primary elections will take place on June 3 which will cut the number of candidates down to two. The final general election will be held on Nov. 4, to determine who will be elected as the next California State Treasurer.
