Latest News From the Controller's Office

Controller John Chiang visits with Loyola Marymount University executive MBA students at the State Capitol. See more photos | Controller in the News | Contact the Controller

Controller: May Revenues Beat Governor's Estimates

Controller John Chiang reported the State's total revenues for May hit $7.27 billion, beating the Governor’s latest estimates by $799.1 million (12.4 percent). Read the news release, the summary analysis and the financial statement.

Controller: New Life Insurance Settlements To Benefit Californians

Controller John Chiang has announced major, multi-state settlements with 11 life insurance companies, including Transamerica and New York Life, over unpaid life insurance benefits. The settlements are worth up to $770.2 million nationwide, with up to $114.7 million going to California beneficiaries. Read the news release and helpful info for beneficiaries.

Controller: Many of Bell's Problems Still Not Addressed 

Controller John Chiang has released a follow-up review of a series of 2010 audits focused on the City of Bell’s internal controls, management of state and federal funds, its dissolved redevelopment agency and use of gas tax proceeds. The review identifies nearly three dozen material weaknesses in the City’s financial operations, and notes serious concerns with the City’s immediate fiscal condition and cash balances. Read the news release in English and Spanish, and the review.

Controller Finds Problems With City of Riverside RDA Holdings, Transfers

Controller John Chiang found the City of Riverside's Redevelopment Agency to be in possession of $30.45 million in real property that it no longer is legally entitled to hold, and that the RDA inappropriately transferred another $64.25 million in real property to the City. Read the news release in English and Spanish, the review, and background on the RDA asset review process.

Controller: Immigration Reform Will Boost California's Economy

Immigration reform will help the Golden State's economy, Controller John Chiang says in a San Jose Mercury News column. Read more.

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