Ana Matosantos

Ana Matosantos

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 Fri.

Matosantos, 37, will be replaced by Deputy Finance Director Michael Cohen. Officials look a "seamless transition," a department spokesperson said, adding that Matosantos' divergence will not impact implementation of the Local Control Funding Formula approved this month by the Legislature.

Matosantos' declaration comes just later on Gov. Jerry Dark-brown on Thursday signed an on-time and balanced $96.3 billion land budget that signals some of the first fruits of the state'south economic recovery.

Matosantos served every bit director of fianance under Gov. Arnold Schwarzenegger from 2009 to 2010 and was retained past Chocolate-brown afterwards his election in 2011. She was the youngest person e'er to concur the state'southward top finance position, equally well as the first adult female 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 time to come plans.

"During very tough economical times, Ana carried out her duties as finance managing director with insight, dizzying energy and uncommon effectiveness," said Dark-brown said in a news release. "Michael has been an first-class master deputy manager and I'm confident that he'due south fully up to the task of leading the department in the years ahead."

Cohen'due south appointment requires Senate confirmation; annual compensation for the post is $180,250.

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