From left, Gabriel Petek, legislative analyst for the Legislative Analyst’s Office; Malia Cohen, California state controller; and Joe Stephenshaw, director of the California Department of Finance, participate in the 3rd Annual California Economic Forum in Sacramento. The panel discussion focused on California’s economic outlook, upcoming fiscal policy challenges and the state’s overall financial condition. CBM photo by Antonio Ray Harvey.
A week before the California Legislature was required to pass a balanced budget on June 15, and send it to Gov. Gavin Newsom, State Controller Malia M. Cohen urged lawmakers to exercise fiscal discipline to guard against ups and downs in state revenue and the risk of future budget shortfalls.
Speaking at the UC Student and Policy Center’s California Economic Forum in Sacramento on June 9, Cohen pointed to the state’s 2024-25 Annual Comprehensive Financial Report (ACFR) as an essential tool for understanding California’s true fiscal condition…