A look at the top candidates vying to be California’s controller

This story was originally published by CalMatters. Sign up for its newsletters.

In the race for oversight over California’s budget, the two main contenders are an incumbent with three years of experience and a challenger who is set on exposing fraudulent and wasteful spending.

Democrat Malia Cohen has served as controller (aka California’s chief accountant) since 2023, and has raised more than $1.2 million for the race to keep her seat. She oversees spending for a state with a budget of nearly $350 billion and one of the world’s largest economies. It’s her job to make sure the state spends wisely and efficiently. 

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As the governor and the Legislature hash out a budget deal for this year, Cohen has urged caution, saying higher-than-expected spending “reinforces the need for restraint.”

Cohen also has improved the state’s ability to deliver a key financial report that was chronically late for years. Cohen made up the backlog by releasing four reports in two years, and she told CalMatters that the upcoming report (called the Annual Comprehensive Financial Report) will almost be on time — late a mere two months, compared to the years others were delayed.

While running for office in 2022, Cohen told CalMatters she planned to scrutinize the state’s homelessness spending and take a critical look at the Employment Development Department and the Department of Motor Vehicles. A 2024 report by the state auditor found that California fails to adequately track its homelessness spending.

Cohen did not meet those campaign promises. She said that’s because the state auditor had already looked at those agencies. Instead of duplicating that work, she decided to focus on improving some internal functions of the state’s financial arm. She’s in the midst of ongoing efforts to modernize FI$Cal — the information technology system that manages the state’s finances — and the system that pays state employees.

“The bottom line is that I do believe that Californians deserve to know where their money is going,” she said. “So that’s what I’m working to do.”

Cohen’s main challenger, Republican Herb Morgan, has promised to pick up the slack he says his opponent has dropped. Like Cohen promised in 2022, Morgan said if elected, he will carefully scrutinize the state’s spending on homelessness. He wants to create a system where every time a state-funded nonprofit pays for anything, that transaction goes into a state database. Then, he said, he’ll use AI to monitor those purchases and flag anything suspicious. 

As an example of how state spending can be transparently tracked, a public dashboard on his website logs his campaign donations in real time. He had raised $367,000 as of the end of April. 

Morgan acknowledged he’s an outlier as a Republican running in a state historically dominated by Democrats. But he believes voters will look at both candidates’ qualifications instead of voting along party lines. 

“I don’t care where you are on the social spectrum, 99% of us are fiscally responsible,” he said. “It doesn’t mean cutting spending. It doesn’t mean defunding. It just means being responsible with our money. And that, I think, appeals to all political ideologies.” 

Also running is Meghann Adams, a Peace and Freedom Party candidate. A school bus driver who lives in San Francisco’s Tenderloin neighborhood, she is president of her union and manages its finances. If elected, Adams promised to expose corporate landlords that drive up rent prices, analyze the cost of imposing a single-payer Medi-Cal system and divest state investments from companies that support Israel’s war against Gaza. 

She had raised $16,000 as of the end of April.

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