California's New Money Maestro: What Does the State Treasurer Really Do?

California is on the brink of electing a new State Treasurer, but what does this role truly entail? Picture this: the treasurer acts as the state’s financial superstar, juggling tax dollars for both state and local governments while also managing cash flow and selling bonds. It sounds like a high-pressure gig, right?

But wait, there’s more! The treasurer also sits on a variety of important boards and commissions, including the state pension boards and the California Housing Finance Agency. Not only does this position involve managing funds, but the decisions made can shape public policy and have a lasting impact on communities across California.

With a throne of power capped at two four-year terms, and a salary of $196,743 as of 2025, this job is anything but boring. The next treasurer will need to be savvy, innovative, and maybe even a little daring. After all, handling billions in taxpayer dollars is no small feat! Who will take on this responsibility and how will they balance the challenges ahead? Let the interesting choices begin!