California Debt and Investment Advisory Commission

Commission Overview

The California Debt and Investment Advisory Commission was created by the California Legislature to assist state and local agencies with the issuance, monitoring, and management of public debt and the investment of public funds through its research and technical assistance programs. CDIAC also acts as the State's clearinghouse for public debt issuance information.

Commission Members

Fiona Ma

Fiona Ma, CPA
State Treasurer

Background: Ms. Fiona Ma was elected California State Treasurer in November 2018. She previously served as Chair and Vice Chair of the California State Board of Equalization from 2015 to 2019, representing more than nine million taxpayers. There, she led historic reforms to increase efficiency and transparency at the agency. As a state legislator, she was the first and only Asian-American woman ever elected California Assembly Speaker pro Tempore, the second-highest ranking office in the Assembly. During her time as a legislator, she passed landmark legislation to ban toxic chemicals in children’s toys, protect small business-owners and expand opportunities for homeowners. She previously served as a San Francisco Supervisor.


Gavin Newsom

Gavin Newsom

Betty Yee

Betty T. Yee
State Controller

Residence: Alameda, California
Background: Betty T. Yee was elected Controller in November 2014, following two terms on the California Board of Equalization (BOE). As the state’s chief fiscal officer, Yee chairs the Franchise Tax Board and serves as a member of the California Public Employees’ Retirement System and the California State Teachers’ Retirement System boards, and she continues to serve BOE as its fifth voting member. Yee also serves on the board of Ceres, a nonprofit working to mobilize large investors to advance global sustainability and take stronger action on climate change. Yee serves on dozens of boards and commissions with authority ranging from land management to crime victim compensation. As a member of the State Lands Commission (and chair in even-numbered years), she helps steward public trust lands, waterways, wharves, and resources—including oil, gas, and geothermal—through economic development, protection, and restoration consistent with environmental needs. Through financing authorities, Yee works to create incentives to increase affordable housing in California.

Controller Yee has over 30 years’ experience in public service, state and local finance, and tax policy. As Chief Deputy Director for Budget with the California Department of Finance, she led development of the Governor’s Budget. Prior to this, she served fiscal and policy committees in both houses of the California Legislature.  She cofounded the Asian Pacific Youth Leadership Project, which exposes California high school youth to public policy and public service. A native of San Francisco, Yee received her bachelor’s degree in sociology from the University of California, Berkeley, and holds a master’s degree in public administration.

Sabrina Cervantes

Sabrina Cervantes
Assemblymember, 60th District

Residence: Riverside, California.
Background: Sabrina Cervantes was elected in November 2016 to represent California’s 60th Assembly District, which includes the communities of Corona, Eastvale, Jurupa Valley, Norco, and Riverside. A committed public servant, Sabrina Cervantes has demonstrated a history of civic engagement to enhance the communities and lives of all Riverside residents. As a lifelong Riverside County resident herself, she has been a strong advocate for families in the Inland Empire. As a former District Director for the Assembly she worked alongside community organizations to enhance the local economy, broaden access to higher education, and improve the access to governmental services for the residents of Riverside. Her extensive knowledge in the Riverside community has aided her in understanding the critical elements that residents need to be successful. By working alongside members in the community and elected officials Sabrina is able to bring this insight in order to bring change to the residents of 60th Assembly District. Sabrina was able to work alongside officials who helped fund the start of University of California, Riverside School of Medicine. She understands what this institution means for local residents and hopes to continue to expand access to affordable education while in the Assembly. Prior to her public service, she worked as a Director for the California Voter Registration Project where she led and implemented strategic planning that would increase civic responsibility among new and eligible voters across California. In addition to her experience with civic engagement, she has demonstrated her commitment to fighting for the best interests of local residents through her multiple partnerships with non-profit organizations. Cervantes is a proud member of the Human Rights Campaign (HRC), and The PICK Group of young professionals. She recently served on the Board of Directors for the University of California, Riverside Chicano Latino Alumni Association (CLA) and non-profit organizations, TruEvolution and Women Wonder Writers. Cervantes earned her Bachelor of Arts Degree in Political Science with a minor in public policy from the University of California, Riverside, and completed an executive education program at the John F. Kennedy School of Government at Harvard University.

José Cisneros

José Cisneros
Treasurer of the City and County of San Francisco

Residence: San Francisco, California.
Background: José Cisneros is the elected Treasurer of the City and County of San Francisco. As Treasurer, Mr. Cisneros serves as the City's banker and chief investment officer, and manages tax and revenue collection for San Francisco. Prior to this position, Mr. Cisneros served as Deputy General Manager for the San Francisco Municipal Transportation Agency. Mr. Cisneros received his Bachelor of Science degree from Sloan School of Management at the Massachusetts Institute of Technology (MIT) and studied for an MBA at Boston University.

David Baum

David Baum
Director of Finance, City of San Leandro

Residence: San Leandro, California
Background: Mr. Baum serves as the Director of Finance for the City of San Leandro, where he is responsible for the city’s budget, treasury function, debt administration, revenue management, general accounting, payroll and purchasing. Mr. Baum has more than 20 years of local government experience, including serving as the Chief Financial Officer of the San Jose Redevelopment Agency. Mr. Baum also worked as a public finance investment banker for Bear Stearns, Morgan Grenfell and Dean Witter, and he spent three years as a consultant for Peat Marwick Mitchell (KPMG). Mr. Baum holds a Bachelor of Arts degree in economics from Stanford University.