CA Controller Comments on Governor’s Proposed 2016-17 State Budget
SACRAMENTO — State Controller Betty T. Yee today issued the following statement in response to Gov. Jerry Brown’s proposed 2016-17 budget:
“As the state’s chief fiscal officer, I applaud Governor Brown for taking into account the inevitability of an economic downturn. Our continued reliance on a highly volatile source of revenue means that recessions will hit hard, which is why we need comprehensive reform of our tax system. Like the Governor, I believe that we must restrain new spending and bolster the state’s rainy-day fund. The Governor is taking a prudent approach to our long-term liabilities, such as retiree health care, and I also think it’s reasonable to set aside $300 million for increased compensation to offset employees’ retiree health care contributions.”
As the chief fiscal officer of California, Controller Yee is responsible for accountability and disbursement of the state’s financial resources. The Controller also safeguards many types of property until claimed by the rightful owners, and 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. Elected in 2014, Controller Yee is the tenth woman elected to a statewide office in California’s history. Follow the Controller on Twitter at @CAController and on Facebook at California State Controller’s Office.