Section 16305 Of Chapter 1. General From California Government Code >> Division 4. >> Title 2. >> Part 2. >> Chapter 1.
16305
. The purpose of this legislation is hereby declared to be the
establishment of a centralized State Treasury System under which
state moneys will be adequately protected, and at the same time will
be controlled and invested in such a way as to realize the maximum
return consistent with safe and prudent treasury management. This
legislation visualizes that the State Controller will be responsible
for maintaining the segregated accounts of the moneys of state
agencies which are deposited with the Treasurer in trust, and that
the State Treasurer will not maintain records which in their detail
duplicate the accounting records maintained by the Controller for
these moneys.