Ana Matosantos, the state’s finance director whose tenure bridged two governors and who led California’s budgeting process during a deep recession, is stepping down in September, officials announced Friday.
Matosantos, 37, will be replaced by Deputy Finance Director Michael Cohen. Officials expect a “seamless transition,” a department spokesperson said, adding that Matosantos’ departure will not impact implementation of the Local Control Funding Formula approved this month by the Legislature.
Matosantos’ announcement comes just after Gov. Jerry Brown on Thursday signed an on-time and balanced $96.3 billion state budget that signals some of the first fruits of the state’s economic recovery.
Matosantos served as director of fianance under Gov. Arnold Schwarzenegger from 2009 to 2010 and was retained by Brown after his election in 2011. She was the youngest person ever to hold the state’s top finance position, as well as the first woman and first Latina appointed to the post, the Los Angeles Times reported. She is the third-longest serving finance director, according to the Sacramento Bee.
She did not disclose her future plans.
“During very tough economic times, Ana carried out her duties as finance director with insight, boundless energy and uncommon effectiveness,” said Brown said in a news release. “Michael has been an excellent chief deputy director and I’m confident that he’s fully up to the task of leading the department in the years ahead.”
Cohen’s appointment requires Senate confirmation; annual compensation for the post is $180,250.
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