As we head into a new year, California’s state auditor found mixed results on the state’s handling of money and government agencies. The auditor gave good reviews for the state treasurer’s handling of securities, while some agencies were found to have wasted significant amounts of money.
California state treasurer
The most recent report analyzed state treasurer Fiona Ma’s accounting for nearly $200 billion the state holds in securities. Those securities include money held on behalf of the state, local governments, banks posting collateral and companies or agencies required to put up financial guarantees.
“We found that the statement presents fairly the securities accountability of the State Treasurer’s Office,” the report reads.
Most of that money is held in the pooled money investment account…