Election 2026 · State of California
California Controller
Malia M. Cohen (incumbent) and Herb W Morgan are the candidates for California Controller on the November 3, 2026 ballot.
The Controller is California's chief fiscal officer: the state's accountant and bookkeeper for all public funds. The office runs the state payroll, administers unclaimed property laws and audits state operations. The Controller also sits on the Board of Equalization and other state boards.
Summary by CityHallPass, not the official text or legal advice. The official text controls: LA County's official election information.
| Who votes | Every California voter |
|---|---|
| Term and pay | Four-year term, elected at the same time as the Governor; no more than two terms in the same office (California Constitution, article V, section 11). Salary: $196,743 a year, effective December 1, 2025. |
| How it works | Top two from the June 2 primary, regardless of party. Most votes wins. |
| Party labels | Party preference printed on the ballot |
What it means for the City of LA
Every city, including Los Angeles, must send the Controller an annual report of all its financial transactions for the prior fiscal year, plus information on employee compensation (Government Code sections 53890 and 53891). The Controller is also one of the five voting members of the State Board of Equalization (California Constitution, article XIII, section 17).
At a glance
| Malia Cohen | Herb Morgan | |
|---|---|---|
| June 2 primary, statewide (3 candidates) | 56.8%, first | 37.5%, second |
| Latest public poll | None found | None found |
| Contributions raised, Jan 2025 to Sept. 19, 2026 | $1.80 million | $0.68 million, plus a $100,000 loan from himself |
| Cash on hand, Sept. 19, 2026 | $1.62 million | $139,486 |
| Outside groups spending for / against | $19,170 / none reported | $13,327 / none reported |
Primary results, June 2, 2026
| Malia M. Cohen (Democratic) | 4,909,613 | 56.8% |
|---|---|---|
| Herb W Morgan (Republican) | 3,244,252 | 37.5% |
| Meghann Adams (Peace and Freedom) | 489,663 | 5.7% |
The candidates
Malia M. Cohen Incumbent
Cohen was born and raised in San Francisco, attended its public schools, and earned a BA from Fisk University and a master's in public policy and management from Carnegie Mellon (campaign bio). She served on the San Francisco Board of Supervisors, including as its president, and chaired the city's employee retirement board (campaign bio; Daily News). She then served on the State Board of Equalization, where she chaired the board (campaign accomplishments). She has been Controller since 2023 (LAist).
Herb W Morgan
Morgan grew up in Westminster and Oceanside and lives in San Diego (Orange County Register editorial). He founded an investment firm that was sold to Cantor Fitzgerald in 2017 and worked there as chief investment officer (LA Times); the Register reports he retired in 2026. San Diego Mayor Jerry Sanders appointed him to the San Diego City Employees' Retirement System board in 2009, and trustees twice elected him board chair (Orange County Register editorial). His Southern California News Group questionnaire lists no other political positions held (questionnaire).
The job
Powers. The Controller is the state’s chief fiscal officer. The office pays the state’s bills after checking that claims are legal and accurate, runs payroll for state and CSU employees, audits state and local programs that spend state money, holds unclaimed property until owners claim it, and reports on the finances of the state and of cities and counties (2026-27 state budget, State Controller). Unlike the State Auditor, the Controller does not answer to the Legislature (LA Times).
Boards. The Controller sits on 70 state boards and commissions (state budget). The office chairs the Franchise Tax Board, sits on the CalPERS and CalSTRS pension boards, and is a voting member of the Board of Equalization (state budget; Cal. Const. art. XIII, sec. 17).
Budget and staff. The 2026-27 budget is $420.3 million with 1,661 positions. Audits have 290 positions and $42.6 million. Payroll services have $150.5 million, which includes the payroll system replacement. Unclaimed property has 262 positions and $45.2 million (state budget).
Facts that shape the job now.
- Late financial reports. The state’s Annual Comprehensive Financial Report had been late for at least six years, CalMatters reported in 2024, as cited by the LA Times (LA Times). The State Auditor’s December 2025 high-risk report says “Late Financial Reporting Remains a High-Risk Issue” and that the Controller “made material errors totaling $6.1 billion” in the latest report’s education-funding reconciliation (State Auditor, report 2025-601).
- Unclaimed property. A CBS investigation found the state holds billions in unclaimed funds and returns a smaller share than states that look for owners, the LA Times reported (LA Times).
- Los Angeles. The City of Los Angeles files its annual financial report with the Controller, as every city must (Gov. Code 53891).
Records
Malia Cohen
Offices. San Francisco Board of Supervisors, including board president; chair of the San Francisco Employees’ Retirement System board; State Board of Equalization, including chair; Controller since 2023 (campaign bio; campaign accomplishments; LAist). At the retirement system she led a move of $100 million into a fossil-fuel-free index fund (Daily News).
As Controller, her account.
- She told the LA Times the state’s financial report now comes out closer to its due date, and blamed delays on departments that hand over information late (LA Times).
- A court appointed her to chair a task force after an online charter school network took at least $400 million in state money from 2016 to 2019. The task force made 20 recommendations after 10 months (LA Times; campaign accomplishments).
- Her campaign cites support for AB 2353 on the welfare tax exemption for affordable housing and her oversight of the state payroll system replacement (campaign accomplishments).
- During 2026 budget talks she urged the Governor and Legislature to spend with caution (LAist).
Audits. The LA Times reported that in 2022 Cohen said she would audit homelessness programs and investigate EDD and the DMV. She told the paper her office did not audit EDD or the DMV because the Legislature and State Auditor were already reviewing them. Asked about homelessness audits, she said “there were some audits provided for that.” A spokesperson later said the office audited “other high-risk areas” (LA Times).
Ethics and enforcement records.
- FPPC warning letters. In 2018 the FPPC warned her for filing her candidate economic interest statement late when she ran for the Board of Equalization; she filed right after the FPPC contacted her (FPPC warning letter, No. 2018-00380). In 2022 it warned her for reporting late a $5,000 payment AT&T made to California Black Media at her request on Nov. 18, 2020 (FPPC warning letter, No. 2021-01055).
- Nothing found. No Los Angeles City Ethics Commission or FEC enforcement records name her, and she is not a lawyer on the State Bar’s rolls. Searched Sept. 30, 2026.
Herb Morgan
Career. He has worked in finance for about 40 years. He founded an investment firm, grew it to about $1.5 billion in assets and sold it; he then served as chief investment officer at Cantor Fitzgerald Investment Advisors for about a decade (OC Register editorial; LAist).
Public role. He was a trustee and twice board chair of the San Diego City Employees’ Retirement System, appointed in 2009 to help the fund recover from problems in the early 2000s (OC Register editorial).
Campaign tools. He built a website that pulls current state spending data out of the state’s FI$Cal system, and a campaign donation tracker recorded on a blockchain (OC Register editorial; campaign issues page).
Ethics and enforcement records. No public enforcement actions found in FPPC (cases, complaints or documents), Los Angeles City Ethics Commission or FEC records, and no federal court cases under his name (searched Sept. 30, 2026; FPPC case search; CourtListener). He is not a lawyer on the State Bar’s rolls.
Where they stand
Issues come from the LA Times race guide and the Southern California News Group questionnaire. Cohen did not answer that questionnaire (Daily News). Her campaign issue pages name priorities (housing, retirement security, health care, reproductive access, equal rights, climate) without specific targets (campaign issues page).
| Issue | Malia Cohen | Herb Morgan |
|---|---|---|
| What to audit first | No specific proposal. Record: did not audit EDD or the DMV; the office says it audited “other high-risk areas” (LA Times). | Nonprofit groups that receive state money directly or through cities and counties, including homeless services (questionnaire). Homelessness spending and high-speed rail (OC Register editorial). |
| Public spending data | No specific proposal. | A public, real-time ledger of every state agency’s spending, published “on-chain” (campaign issues page). The LA Times noted he has not given a cost (LA Times). |
| Late financial reports | Record: says reports now arrive closer to deadline (LA Times); CalMatters reported she cleared the backlog with four reports in two years (CalMatters). No specific new proposal. | Says the Controller can mandate accounting methods and reporting techniques (OC Register editorial). Withhold funds from departments until they improve (LA Times). |
| Budget warnings | Record: urged caution during 2026 budget talks (LAist). | Be “far more aggressive” in warning when budgets rest on questionable assumptions (LA Times). No specific proposal. |
| Pension divestment (Israel) | No stated position. | Opposes political divestment by pension funds (questionnaire). |
| Pension divestment (fossil fuels) | Record: led a $100 million shift to a fossil-fuel-free fund in San Francisco (Daily News). | No stated position beyond saying pension trustees should avoid political bias (questionnaire). |
| Prop 13 “split roll” | No stated position. | Did not answer yes or no; wrote that “instead of raising our already uncompetitive tax rates” the state should adopt policies to attract businesses (questionnaire). |
| Unclaimed property | Her office says it uses media outreach and has digitized claims (LA Times). | No specific proposal found. |
On the other ballot measures
City of Los Angeles and County measures on the same ballot are left out; neither candidate took a position on them.
| Measure | Malia Cohen | Herb Morgan |
|---|---|---|
| Prop 37 (loans for middle-income homebuyers) | Supports. Quoted in the official argument in favor: “Proposition 37 will boost homeownership without burdening taxpayers” (Official Voter Information Guide, p. 42) | No stated position |
| Props 1, 2, 3, 4, 5, 38, 39, 40, 41, 42, 43, 44 and 45 | No stated position | No stated position |
Source: ballot arguments in the Official Voter Information Guide; the candidates’ sites (Cohen, Morgan), checked Sept 30, 2026.
Endorsements
Malia Cohen
From her campaign’s endorsement page (maliacohenforca.com, checked Sept 29, 2026) unless another source is linked.
- Party: California Democratic Party (party’s Aug 2, 2026 list).
- Officials: Gov. Gavin Newsom, Lt. Gov. Eleni Kounalakis, Secretary of State Shirley Weber, Treasurer Fiona Ma, U.S. Sen. Adam Schiff, Assembly Speaker Robert Rivas, Senate President pro Tem Monique Limón, and Sen. María Elena Durazo (campaign endorsement page).
- Unions: California Labor Federation, State Building and Construction Trades Council, SEIU State Council, California Professional Firefighters, California Faculty Association, CFT, California Nurses Association, AFSCME California, UAW Region 6, UFCW Western States Council, UNAC, Operating Engineers Locals 3 and 12, several Teamsters, IBEW and plumbers’ locals, and the California Statewide Law Enforcement Association (campaign endorsement page).
- Organizations: California Environmental Voters, Equality California, California Council for Affordable Housing, California Legislative Women’s Caucus and Black Women Organized for Political Action (campaign endorsement page).
- Newspapers: The San Francisco Examiner editorial board endorsed her reelection before the primary, on May 27, 2026 (SF Examiner, archived).
Herb Morgan
From his campaign’s endorsement page (herbmorgan.com, checked Sept 29, 2026) unless another source is linked.
- Party: California Republican Party (party’s endorsement page, checked Sept 30, 2026), California Republican Assembly, Unity Party of California, and 23 county Republican parties (Los Angeles County’s is not among them).
- Officials: Senate Minority Leader Brian Jones and Sens. Steven Choi, Shannon Grove, Roger Niello, Rosilicie Ochoa Bogh, Kelly Seyarto and Tony Strickland; Assemblymembers Carl DeMaio and David Tangipa; Manhattan Beach Mayor Pro Tem Joe Franklin; former Whittier Mayor Joe Vinatieri; former San Diego Mayor Kevin Faulconer (campaign endorsement page).
- Newspapers: The Orange County Register (Southern California News Group) editorial board endorsed him on Sept 6, 2026 (OC Register). Before the primary, on April 30, 2026, McClatchy Media’s California editorial board, which writes for the Sacramento Bee, endorsed him (Sacramento Bee, archived).
Polls
No public poll of this race was found.
Money
| Malia Cohen | Herb Morgan | |
|---|---|---|
| Contributions received, Jan 1, 2025 to Sep 19, 2026 | $1,798,876 | $676,825 |
| Loans | none | $100,025 ($100,000 from Morgan, $25 from The KAL Group), all still owed |
| Spent | $613,567 | $540,438 |
| Cash on hand, Sep 19, 2026 | $1,623,101 | $139,486 |
| Cash at the start of 2025 | $426,989 | $0 (committee formed 2025) |
| Late contributions reported Sep 20-28 | $10,689 | $18,550 |
| Independent spending supporting | $19,170 | $13,327 |
| Independent spending opposing | none reported | none reported |
Source: Form 460 reports for Malia Cohen for Controller 2026 and Herb Morgan for State Controller 2026, from the Cal-Access data export downloaded Sep 29, 2026. Morgan’s loans were made from April to December 2025. The contribution limit for Controller is $9,800 per election from a person and $19,600 from a small contributor committee (FPPC).
Who is giving
Method: itemized contributions (Schedules A and C) plus late-contribution reports after Sep 19. A donor is a normalized name plus ZIP code. “Maximum” means at least one gift at the $9,800 per-election limit. A ZIP counts as City of Los Angeles if at least half its area is inside the City.
| Cohen | Morgan | |
|---|---|---|
| Donors (itemized) | 599 | 670 |
| Itemized dollars | $1,804,891 | $581,447 |
| From individuals | 39.2% | 92.7% |
| From unions and public-employee groups | 38.2% | 0% |
| From businesses and business or trade PACs | 19.8% | 6.0% |
| Donors with at least one maximum gift | 75, giving 59.2% of dollars | 15, giving 30.6% of dollars |
| Donors giving under $250 in total | 96 (16.0%), giving 0.6% of dollars | 285 (42.5%), giving 5.9% of dollars |
| City of Los Angeles | 34 donors, $121,450 (6.7%) | 18 donors, $11,365 (2.0%) |
| Rest of LA County | 46 donors, $177,394 (9.8%) | 69 donors, $65,494 (11.3%) |
| Rest of California | 442 donors, $1,256,793 (69.6%) | 521 donors, $419,252 (72.1%) |
| Out of state | 77 donors, $249,255 (13.8%) | 62 donors, $85,336 (14.7%) |
Source: itemized contributions in the Form 460 and 497 reports of Malia Cohen for Controller 2026 and Herb Morgan for State Controller 2026, from the Cal-Access data export downloaded Sep 29, 2026.
Malia Cohen
Cohen’s money split between unions (38.2%) and individuals (39.2%), with businesses and business PACs giving about a fifth. The largest union donors gave $39,200 each: the California Teachers Association and Steamfitters Local 250, whose committee is in LA County. United Domestic Workers gave $30,100 and the Carpenters’ PAC $29,400 (Cal-Access).
Real estate and development interests gave 12.7% ($229,170 from 67 donors), including River Park Properties ($19,600), the California Council for Affordable Housing PAC ($17,012), USA Properties Fund and people at The Pacific Companies. Lawyers and law firms gave 5.2%. Technology donors gave 1.9%, including Airbnb ($5,000) and Google ($5,000) (Cal-Access).
Shared employer: 23 donors who list Ryan, LLC as their employer, several of them tax consultants, gave $40,600. The gifts came in three bunches: six donors on April 27-28, five on May 5-7 and nine on May 11-13, 2026. Sixteen of the 23 list addresses outside California (Cal-Access).
Herb Morgan
Nearly all of Morgan’s money (92.7%) came from individuals. People listing no employer or retired gave 44.1% of itemized dollars. Lawyers gave 7.1%. Real estate and development donors gave 6.8%. The largest single donor is US Claims Services, doing business as Payne Richards & Associates ($19,600), an out-of-state company. The largest individual total is $19,232. The Los Angeles County Lincoln Clubs PAC gave $8,000. No clusters were found. About 19% of itemized dollars could not be assigned an industry (Cal-Access).
Outside spending
| Committee | Supports | Amount | What it bought |
|---|---|---|---|
| GrowSF Voter Guide | Cohen | $5,758 | Digital ads, staff time |
| United Domestic Workers IE PAC | Cohen | $4,427 | Mailer, website |
| LA County Democratic Party (two committees) | Cohen | $5,111 | Member literature |
| Other Democratic clubs, parties and unions (7) | Cohen | $3,875 | Mail, voter guides |
| Reform Local Government PAC | Morgan | $10,000 | Slate mailer |
| San Diego County Gun Owners PAC | Morgan | $3,042 | Digital ads |
| Santa Clara County Republican Party | Morgan | $286 | Member communication |
Source: independent expenditure reports (Forms 460 Schedule D, 496) on Cal-Access: GrowSF Voter Guide; United Domestic Workers IE PAC; LA County Democratic Party issues committee; LA County Democratic Party candidate committee; San Diego Labor Coalition; Democratic Party of Contra Costa County; Northern Solano Democratic Club; Democratic Club of the Conejo Valley; California Teachers Association; California Federation of Teachers COPE; Democratic Party of Orange County; Reform Local Government PAC; San Diego County Gun Owners PAC; Santa Clara County Republican Party.
Funders since January 2025: GrowSF raised $1.84 million, led by Jeremy Liew (Lightspeed Venture Partners) and Christian Larsen (Ripple) at $500,000 each (Cal-Access). Nearly all of the United Domestic Workers IE PAC’s $2.21 million is unitemized member money (Cal-Access). Reform Local Government PAC raised $558,254, including $113,793 unitemized, La Playa LLC $49,000 and one individual $40,000 (Cal-Access). The San Diego County Gun Owners PAC raised $134,412; no single donor gave more than $4,168 (Cal-Access).
Key moments
Debates and forums
No debate between Cohen and Morgan was found.