Capitol Alert: State finance director Mike Genest to leave after four years

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Capitol Alert

The latest on California politics and government

November 2, 2009

State finance director Mike Genest to leave after four years

Gov. Arnold Schwarzenegger's finance director, Mike Genest, will leave office this year before the governor produces his final January budget proposal, Department of Finance spokesman H.D. Palmer said Monday.

Genest is the governor's third finance director and has served the longest of the three, dating back to Dec. 1, 2005.

He oversaw the governor's timeliest state budget in 2006, signed on June 30 of that year. He also served when the governor and state leaders set a new record with an 85-day budget delay in 2008. And he has led the Finance Department through two tumultuous budget plans in the past year when the state dealt with a two-year deficit of $60 billion below projected spending.

"He believes it's a good time to step off the mound," Palmer said. Genest is traveling out of the country this week on vacation and was unavailable for comment.

Genest plans to leave once Schwarzenegger picks his next finance director, Palmer said. The governor must propose his final budget plan to the Legislature by January.

Schwarzenegger's previous two finance directors were Donna Arduin, who served from Nov. 2003 to Oct. 2004 and Tom Campbell, a GOP gubernatorial candidate and former congressman, who served from Dec. 2004 to Nov. 2005. Genest had worked as Department of Finance chief deputy director before he took over in Dec. 2005.

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