Economic Development Council Lunch

Fiona Ma, CPA is California’s 34th State Treasurer. She was first elected on November 6, 2018, with more votes (7,825,587) than any other candidate for treasurer in the state's history and reelected on November 8, 2022. She is the first woman of color and the first woman Certified Public Accountant (CPA) elected to the position. The State Treasurer’s Office was created in the California Constitution in 1849. It provides financing for schools, roads, housing, recycling and waste management, hospitals, public facilities, and other crucial infrastructure projects that better the lives of residents. California is the world’s fourth-largest economy and Treasurer Ma is the state’s primary banker. Presently, her office processes about $3 trillion in banking transactions a year. She provides transparency and oversight for the government’s investment portfolio and accounts, as well as for the state’s surplus funds. Treasurer Ma oversees an investment portfolio that averages about $165 billion—a portion of which is beneficially owned by more than 2,300 local governments in California. She serves as agent of sale for all State bonds and is trustee of billions of dollars of state indebtedness.