Financial Reports, Taxes, and Economy

As the state’s chief fiscal officer, Controller Malia M. Cohen oversees the state’s daily cash management and publishes monthly reports on state revenues and expenditures. The Controller also reviews and audits cost claims for state-mandated programs.

The Controller’s State Accounting and Reporting Division (SARD) compiles the Annual Comprehensive Financial Report (ACFR) for the State of California using federal Governmental Accounting Standards Board requirements. The California State Auditor is responsible for auditing the ACFR in accordance with federal Government Auditing Standards. The SARD team also prepares the Budgetary-Legal Basis Annual Report (BLBAR), which includes the unaudited statements of funds for the State. Each fund statement includes the results of operations showing receipts, disbursements, and fund balances. The BLBAR is prepared in compliance with California Government Code section 12460.

Controller Cohen is a member of the state’s two tax entities, the Franchise Tax Board and the Board of Equalization.