We are living in uncertain times. But one thing certain is that the California State Treasurer’s office will faithfully carry out our vital role as the state’s banker, and do so in a way that protects the public's funds.
We will keep managing the approximate $3.1 trillion in banking transactions, continue selling bonds and managing bond debt, and carry on managing the state’s investment portfolio, which has averaged more than $100 billion in assets over the course of my administration.
Similarly, the 16 boards, commissions and authorities that I chair will continue to serve the public, hospitals, businesses, and help spur housing and economic development.
As we carry on our work, we are always conscious that the safety of our employees is crucial to our success. Over these recent months, we have responded by conducting meetings by phone, remaining vigilant about cleaning and washing hands, and following guidelines for telecommuting so our employees and the public remain safe from the deadly COVID-19 virus and its variants.
I urge everyone else to do the same. Working together and following safety guidelines is our best hope for saving lives and defeating the pandemic.
In Peace and Friendship,
Treasurer Fiona Ma
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Welcome to the California State Treasurer’s website for California’s stakeholders.
As California’s Treasurer, I appreciate your continued interest and the commitment to California’s success it demonstrates. Here’s a look at our accomplishments in 2021. The Treasurer provides financing for our schools, roads, housing, levees, public health facilities, and other crucial infrastructure projects that better the lives of all Californians.
The State Treasurer’s Office (STO) was created in the California Constitution in 1849. The STO managed in excess of $3.1 trillion of banking transactions this past fiscal year a significant increase attributable to pandemic-related transactions. Typically, the STO manages approximately $2.5 trillion in banking transactions within a fiscal year.
One of the primary duties of the Treasurer is to provide transparency and oversight for the state’s investment portfolio and bank accounts. Funds held in the treasury that are not needed immediately are invested in safe, liquid securities designed to use the state’s financial resources efficiently.
The STO oversees an investment portfolio that has averaged more than $100 billion
during my administration, and had grown to over $200 billion, about 15% of which
are funds beneficially owned by more than 2,200 local governments in
In addition to these banking and investment activities, the Treasurer serves as the agent for the sale of all state bonds and is the trustee on a majority of the state’s outstanding debt.
In addition, the STO manages three savings programs helping individuals with disabilities, families saving for their children’s college education, and private-employees who lack an employer-sponsored retirement savings plan.
An integral part of my approach to this office is to be transparent and provide all Californians with a more user-friendly way to access the workings of this office. My goal is to use this openness to build trust with the various stakeholders we interact with daily. I will always welcome your feedback on how we are doing.
By executing these responsibilities for California—the Golden State—my aim is to create tangible benefits for current and future generations of Californians. On behalf of them, I thank you for your interest and continued support.
Fiona Ma, CPA