The State ended the fiscal year ahead of budget projections and with a positive cash balance in the General Fund for the first time since June 30, 2007.
Chamber of Commerce: by on AUGUST 12, 2014 Assemblywoman Sharon Quirk-Silva (D-Fullerton) hosted on Aug. 8 a State of the Economy and Forecast Briefing
Fullerton Chamber of Commerce: by on AUGUST 12, 2014 Assemblywoman Sharon Quirk-Silva hosted on Aug. 8 a State of the Economy and Forecast Briefing with California State Controller John Chiang at California State University, Fullerton (CSUF).
Among the more than 120 attendees were elected officials, business owners and community stakeholders. CSUF Provost and Vice President of Academic Affairs, Jose Cruz and City of Fullerton Mayor Doug Chaffee delivered welcoming remarks.
Recent numbers from the second quarter show that California’s employment rate is up 3.8% in the past 18 months. California has returned its share of the nation’s workforce back to the pre-recession level, which means 1.5 million jobs in the State.
“While this is good news after seven years of record-high borrowing just to pay our everyday bills, we still have much work to do. We should remain laser-focused on paying down the Wall of Debt, reversing the many accounting gimmicks to which we’ve become addicted and keeping the State as liquid as possible to avoid experiencing the payment delays and IOUs that plagued our State during the Great Recession,” said Chiang.
As the State’s Chief Financial Officer (CFO), Chiang brings extensive experience and financial leadership to the State Controller’s Office. Mr. Chiang was first elected to the Board of Equalization in 1998 where he served two terms, including three years as chair. He began his career as a tax law specialist with the Internal Revenue Service and previously served as an attorney in the State Controller’s Office. The son of immigrant parents, Chiang graduated with honors from the University of South Florida with a degree in Finance. He received his law degree from the Georgetown University Law Center.