Controller John Chiang, the State's chief fiscal officer, has fought to make finances more transparent and accountable to the public, and to weed out waste, fraud and abuse of public money. Chiang has led efforts to reform the State’s public pension systems, helped local governments navigate difficult economic times, protected California’s precious natural resources, reunited owners with more than $2.1 billion in unclaimed property, and launched financial and tax assistance seminars. Read more | Contact the Controller | Controller in the news
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California Fiscal Issues and Information
Watch Webinar Video: Sole Proprietorships vs. LLCs
The Controller’s Office and the Franchise Tax Board recently teamed up for a webinar on sole proprietorships and limited liability companies. Watch the video here, see a PDF of the presentation here and read the transcript here.
Insurance Companies to Return Millions to Calif. Beneficiaries
Controller John Chiang announced Forethought Group, Inc., and Nationwide Insurance Company will return millions of dollars to California beneficiaries. Read the Forethought news release. Read the Nationwide news release. Read about other insurance settlements.
September Revenues Below ProjectionsController John Chiang says California revenues in September were 2.2% below projections in the 2012-13 Budget Act. Read the news release, the summary analysis and the financial statement.
Controller's Audits Find Lack of Fiscal Controls, Misspent RDA Funds in Hercules
Two audits of the City of Hercules questioned almost $50 million in charges to the City's redevelopment funds and found weak oversight and poor management of City funds that damaged Hercules' fiscal health. Read the news release, the RDA audit and the internal control audit.
Controller Finds Faults In CalSTRS' Efforts To Curb Pension Spiking
A review released by Controller John Chiang found that the California State Teachers’ Retirement System does not adequately audit more than 1,900 reporting entities (including school districts), has missed opportunities to reduce instances of suspicious or unjustified salary increases and also failed to adequately use existing electronic systems designed to identify cases of pension spiking. Read the news release and the review.
For additional information on California fiscal issues, please see:
- The Controller's Monthly Cash Reports and Summary Newsletters
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