Your guide to the California state controller race: Democrat Malia Cohen faces challengers

The report, which is used by credit agencies to monitor the state’s fiscal health, for years has been published months after it is due. A 2024 CalMatters report said it had been late for at least six years.

Cohen said part of the issue is that departments are late in handing over their information.

Cohen also pointed to her work leading a task force that was convened by court order following a massive fraud scheme involving charter schools in San Diego. A network of online charter schools fraudulently obtained at least $400 million in state school funds from 2016 to 2019, according to the San Diego County district attorney’s office.

Cohen fell short of some major campaign promises she made during her first run for controller.

Cohen in 2022 told The Times she would audit homelessness programs and determine whether the billions of dollars the state is investing is addressing the crisis.

She also told CalMatters that she would investigate the Employment Development Department, the Department of Motor Vehicles and homelessness programs.

Cohen recently told The Times her office didn’t perform audits of EDD because the state legislature already was reviewing the agency, nor did she audit the DMV because the legislature and state auditor were performing reviews.

Asked if she performed audits on homelessness, Cohen said, “Yes … there were some audits provided for that. I can give you a copy of the audit.” But a spokesperson told The Times that the office audited “other high-risk areas.”

Cohen faces criticism over her handling of a controller-led program that returns uncashed checks, funds from old bank accounts and other money owed to state residents.

A CBS investigation found that the state holds billions of dollars in unclaimed funds, which earns interest. Other states have a higher rate of returning money because they are more aggressive about actively looking for owners.

A spokesperson for Cohen told The Times her office is using media to get out the word about unclaimed funds and has digitized the claim system.

Cohen is endorsed by Gov. Gavin Newsom, Assembly Speaker Robert Rivas and Senate Pro Tem Speaker Monique Limon, as well as the California Democratic Party.