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Explain Department of Finance

Department of Finance (Finance): The Director of Finance functions as the Governor’s chief fiscal policy advisor with the emphasis on financial integrity of the state. Finance is delegated the accountability for preparation of the Governor's Budget. The primary functions of the department comprise:

• Prepare, elucidate, and administer the state’s annual financial plan (that is, budget), which the Governor is needed under the State Constitution to present by January 10 of each and every year.

• Analyze the legislation.

• Establish suitable fiscal policies to fetch out the state’s programs.

• Develop and sustain the California State Accounting and Reporting System (that is, CALSTARS), that is used by most of the state departments to record their accounting transactions.

• Monitor and audit expenses by state departments to make sure compliance with the law, accepted standards and policies.

• Build up economic forecasts and revenue approximations.

• Build up population and enrollment approximations and projections.

• Review expenses for information technology actions of state departments.

• Support the Director or designee in their responsibility as member of around 95 state boards and commissions.

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