Citizens Financial Accountability Oversight Committee (CFAOC)
The Citizens Financial Accountability Oversight Committee (CFAOC) was created as a part of the Stem Cell Research and Cures Initiative (Proposition 71), which California voters passed in November of 2004.
The CFAOC is a six-member board, chaired by the Controller. The committee meets annually to review the financial practices and performance of the California Institute for Regenerative Medicine (CIRM). As a part of its evaluation, CFAOC members review the CIRM’s annual financial audit, the State Controller’s evaluation of that audit, and the financial practices of the Institute.
State Controller’s Office
P.O. Box 942850
Sacramento, CA 94250-5872