Press Releases

SACRAMENTO — Tonight, Controller Malia M. Cohen issued the following statement in response to Governor Gavin Newsom signing Senate Bill 131, which enacts California’s 2025–2026 state budget effective July 1, 2025:

“California’s cash position remains strong — enabling the state to meet its financial obligations,” said Controller Cohen. “While this budget is balanced through program reductions and borrowing, we recognize that significant structural deficits lie ahead. The Governor and Legislature will face difficult choices in future years, particularly given the uncertainty of federal funding. As the state’s chief fiscal officer, I urge continued fiscal prudence to preserve our strong cash position and ensure California can weather future economic challenges.”

As the chief fiscal officer of California, Controller Cohen independently oversees and manages California’s financial resources with integrity and transparency to build trust. The Controller is responsible for accountability and disbursement of the state’s financial resources. The Controller has independent auditing authority over government agencies that spend state funds. She is a member of numerous financing authorities, and fiscal and financial oversight entities including the Franchise Tax Board. She also serves on the boards for the nation’s two largest public pension funds. Follow the Controller on X at @CAController and on Facebook at California State Controller’s Office.

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