Understanding the California Debt and Investment Advisory Commission (CDIAC)

The California Debt and Investment Advisory Commission (CDIAC) serves as a vital resource for public finance professionals across California, providing essential information, education, and technical assistance on debt issuance and public fund investments to state and local agencies.

Core Mission and Responsibilities

CDIAC was established in 1981 through Chapter 1088 of the Statutes of 1981 (Assembly Bill 1192, Costa) to create a clearinghouse for public debt issuance information. Its mission was later expanded in 1996 via Chapter 833 of the Statutes of 1996 (Assembly Bill 1197, Takasugi) to include public fund investments, leading to its current name.

The commission fulfills several key functions mandated by state law:

• Collecting and maintaining data on all state and local debt issuance in California as a statistical clearinghouse
• Providing technical assistance and continuing education to government officials on debt issuance practices and public fund investment strategies
• Conducting or commissioning studies to reduce debt costs and improve credit ratings
• Publishing a monthly newsletter covering public finance developments
• Recommending legislative changes to enhance debt sale and servicing processes
• Monitoring fiscal status, bond reserve draws, and defaults for specific debt instruments like Mello-Roos Community Facilities Districts
• Assisting state financing authorities in fulfilling their operational responsibilities

Organizational Structure

CDIAC consists of nine members, with the State Treasurer serving as chairperson. The commission includes:

• The State Treasurer (Chairperson)
• The Governor or Director of Finance
• The State Controller
• Two local government finance officials appointed by the State Treasurer
• Two members of the California State Assembly
• Two members of the California State Senate

Resources and Outreach

CDIAC offers multiple channels for public finance professionals to access its services:

• The Data Portal, an online interface for filing debt issuance reports and accessing debt data
• Educational programs including the “Legal Foundations and Strategic Structuring of Lease Financing” series (scheduled for May 12 and May 21, 2026) and the “Municipal Debt Essentials” conference (September 15–17, 2026)
• Publications such as the California Debt Financing Guide and Public Fund Investment Primer
• The monthly Debt Line newsletter
• Specialized resources covering climate-related financing and regulatory compliance

Accessing CDIAC Services

Located at 915 Capitol Mall, Room 380 in Sacramento, CDIAC maintains regular business hours for in-person assistance. The commission as well provides remote access through its website and online portals, ensuring statewide availability of its resources for public finance officials.

As California continues to navigate complex public finance challenges, CDIAC remains committed to supporting informed decision-making through reliable data, expert guidance, and educational initiatives tailored to the needs of state and local government entities.

Understanding the California Debt and Investment Advisory Commission (CDIAC)

The California Debt and Investment Advisory Commission (CDIAC) serves as a vital resource for public finance professionals across California, providing essential information, education, and technical assistance on debt issuance and public fund investments to state and local agencies.

Core Mission and Responsibilities

CDIAC was established in 1981 through Chapter 1088 of the Statutes of 1981 (Assembly Bill 1192, Costa) to create a clearinghouse for public debt issuance information. Its mission was later expanded in 1996 via Chapter 833 of the Statutes of 1996 (Assembly Bill 1197, Takasugi) to include public fund investments, leading to its current name.

The commission fulfills several key functions mandated by state law:

• Collecting and maintaining data on all state and local debt issuance in California as a statistical clearinghouse
• Providing technical assistance and continuing education to government officials on debt issuance practices and public fund investment strategies
• Conducting or commissioning studies to reduce debt costs and improve credit ratings
• Publishing a monthly newsletter covering public finance developments
• Recommending legislative changes to enhance debt sale and servicing processes
• Monitoring fiscal status, bond reserve draws, and defaults for specific debt instruments like Mello-Roos Community Facilities Districts
• Assisting state financing authorities in fulfilling their operational responsibilities

Organizational Structure

CDIAC consists of nine members, with the State Treasurer serving as chairperson. The commission includes:

• The State Treasurer (Chairperson)
• The Governor or Director of Finance
• The State Controller
• Two local government finance officials appointed by the State Treasurer
• Two members of the California State Assembly
• Two members of the California State Senate

Resources and Outreach

CDIAC offers multiple channels for public finance professionals to access its services:

• The Data Portal, an online interface for filing debt issuance reports and accessing debt data
• Educational programs including the “Legal Foundations and Strategic Structuring of Lease Financing” series (scheduled for May 12 and May 21, 2026) and the “Municipal Debt Essentials” conference (September 15–17, 2026)
• Publications such as the California Debt Financing Guide and Public Fund Investment Primer
• The monthly Debt Line newsletter
• Specialized resources covering climate-related financing and regulatory compliance

Accessing CDIAC Services

Located at 915 Capitol Mall, Room 380 in Sacramento, CDIAC maintains regular business hours for in-person assistance. The commission also provides remote access through its website and online portals, ensuring statewide availability of its resources for public finance officials.

As California continues to navigate complex public finance challenges, CDIAC remains committed to supporting informed decision-making through reliable data, expert guidance, and educational initiatives tailored to the needs of state and local government entities.