A new Treasurer-Tax Collector for the County of San Diego was sworn in on Tuesday.
Lawrence (Larry) Cohen took the oath of office during a Board of Supervisors meeting as his wife and three sons looked on. Cohen was appointed to fill the position after former Treasurer-Tax Collector Dan McAllister retired on Aug. 2.
Cohen most recently served as the Chief of Staff to Congressman Juan Vargas, who sits on the House Financial Services Committee. For over five years, Cohen has served as a chief advisor to Vargas on the committee that oversees banks, pensions, and federal securities legislation.
In the private sector, he worked for Millipore Sigma, where he managed a $30 million business line and was responsible for profit and loss performance, investment strategies, and contract negotiations.
Cohen has a master’s in business administration from Strayer University in Washington, D.C. where he received training in finance and management skills and he holds a Bachelor of Arts in Political Science from the University of California, San Diego.
The selection process to appoint a new Treasurer-Tax Collector began during a public hearing on Sept. 30. The Board of Supervisors narrowed down a pool of 11 qualified applicants to four finalists. The Supervisors also called for an informal community meet-and-greet on Oct. 30 so the public could get to know the candidates.
At a second public hearing on Nov. 4, the Supervisors held four rounds of voting before selecting Cohen for the role.
Cohen will serve as the County’s Treasurer-Tax Collector until the current term ends on Jan. 4, 2027. An election will determine a successor for the following four-year term.
The Treasurer-Tax Collector’s office collects more than $9.1 billion in property taxes every year. The office also collects the transient occupancy tax and the cannabis business tax from businesses in the County’s unincorporated area.
The treasury side of the office manages the County investment pool, which ranges in size from $10.2 – $18.8 billion in assets on an annual basis. The Treasury is also the paying agent for all 42 school districts in the region.
Additionally, the office handles the Deferred Compensation Program for County employees and has oversight of the County’s $2.7 billion Deferred Compensation Program: 401(a), 457(b) + Roth Plan versions.
It also reconciles internal payroll reports, approves wires, oversees program activities, education and works closely with payroll, Human Resources and the record keeper.
Tracy DeFore is a communications specialist with the County of San Diego Communications Office.
