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Dear Friends,
Strengthening and fully funding education has been a top priority for me for a long time. When I was a legislator, I authored, co-authored or sponsored bills that repaid funds the state owed to public education (Proposition 98), expanded awareness of the state’s Cal-Grant program, increased access to middleclass
scholarships, and much more.
As State Treasurer, today I oversee two state authorities and a state board that play their own critical roles in helping to strengthen and fully fund our education system.
Our ScholarShare Investment Board (SIB), which oversees California’s official college savings plan – ScholarShare 529 -- provides an easy method for families to save for their children’s college expenses. Investment experts consider ScholarShare 529 among the most highly rated 529 plans in the nation. Meanwhile, our California Educational Facilities Authority (CEFA) is extraordinarily active in helping private, nonprofit colleges and universities meet their building and facility needs. I chair both the SIB and CEFA boards.
I also chair the California School Finance Authority (CSFA) board, through which we are diligently working to help find a solution to the housing problems faced by community college students. On another front, CSFA
is working to help schools in counties that may face economic repercussions resulting from the global response to the coronavirus pandemic.
Of course, there is more to these programs than a brief description can convey, so I invite you to read the ABCs of the BCAs feature inside.
Click to Read the Full Letter
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Dear Fiona,
I attended one of your recent webinars and heard you cautioning the audience to beware of COVID-19 scams.
What are these? How can I protect myself?
- Denise
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Intern Peter Xu’s Note of Appreciation
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Interning for California State Treasurer Fiona Ma has been one of the most fulfilling professional experiences I have had to date. My internship spanned four years, from her term in office as chair of the State Board of Equalization through her second year in office as California State Treasurer.
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This Community’s Creative Solution Forged New Links between Local Businesses and Customers during Shutdown
Communities across California have taken an economic hit in the wake of shelter-in-place orders made necessary by the spread of COVID-19. In high-profile moves, government policymakers immediately stepped in to support and provide relief to businesses large and small. Not as well-publicized are the creative steps taken by local business owners and economic development organizations.
One such effort in Santa Cruz known as “Ride Out the Wave” could be a blueprint for other communities.
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Featured: California School Finance Authority (CSFA)
Benefitting California Schools and Families
This past spring the California School Finance Authority (CSFA), historically associated with the financing of charter school facilities, laid the groundwork to support Californians on two new, critical fronts. Students from kindergarten through community college stand to benefit.
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Calendar of Upcoming BCA Events
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Board, Commissions and Authorities (BCAs) within the State Treasurer’s Office
July 30
California School Finance Authority
10:30 AM | 915 Capitol Mall, Room 110, Sacramento, CA
Public Participation Call-In Number* (877) 810-9415 | Participant Code: 6535126
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Teleconference information, other scheduled BCA meetings, agendas, deadlines for grants, and more, may be accessed as the information is posted or updated on the Treasurer’s website: https://www.treasurer.ca.gov/
Additional BCA meetings in July include CAEATFA (July 21), CTCAC (July 1), CDLAC (July 1), CEFA (July 30), CHFFA (July 30), CPCFA (July 31), CalSavers (July 27). Meeting date and times may change; please check the BCA links included here for such notices, as well as for teleconference details.
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Note:* As we work to further protect the health of our community in response to COVID-19, the BCAs are modifying standard committee meeting procedures. Participants, interested parties, and non-essential staff are requested to join the meeting via teleconference. Further, social distancing measures will be put in place at the meeting location, which will substantially limit the space available for in-person attendees. Public participation and comment periods will
not be impacted.
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ScholarShare 529 Creditor Protection Senate Bill 898, Bob Wieckowski (D-Fremont) https://sd10.senate.ca.gov
Would exempt higher education ScholarShare 529 college saving accounts from creditors outside of bankruptcy cases.
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On June 4, Treasurer Ma teamed up with EconAlliance in Santa Barbara during Small Business Week to provide timely resources and program updates to small business owners and moderate presentations by the California Pollution Control Financing Authority (CPCFA), CalSavers and IBank. Top row, left to right: Treasurer Ma, Emily Burgos of IBank’s Small Business Finance Center, Jonathan Herrera of CalSavers. Bottom row: CPCFA Deputy Executive Director Janae Davis and Victoria
Conner of Strategic Vitality LLC.
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Treasurer Ma and representatives of the Asian Pacific Islander American Public Affairs organization delivering protective masks to the Sacramento Regional Transit District office on June 10.
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The Treasurer joined Hispanas Organized for Political Equality (HOPE) for its 26th Annual Latina Action Day on June 10 to discuss California’s budget, economic and workforce recovery, and her post pandemic office priorities. Pictured top, left to right: HOPE Executive Director Helen Torres, Telemundo 52 News Anchor Sandra O’Neill. Middle row: Assemblymember Blanca Rubio, California Budget & Policy Center
Executive Director Chris Hoene. Bottom row: Treasurer Ma.
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Treasurer Ma with some of the SMUD workers she visited on June 26 expressly to thank them for supporting the community during the state’s response to COVID 19. Deemed an “essential service provider,” the Sacramento regional not-for-profit electric service company took steps to protect workers and suspended power shutoffs for non-payment through January 2021.
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