The County Board of Supervisors selected Lawrence (Larry) Cohen to fill the position of Treasurer-Tax Collector during a public hearing on Tuesday. The appointee will replace former Treasurer-Tax Collector Dan McAllister who retired on Aug. 2.
Cohen currently serves as the Chief of Staff to Congressman Juan Vargas who sits on the House Financial Services Committee. For over five years, Cohen has acted as chief advisor in supporting Vargas’ work on the committee which 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 began during a public hearing on Sept. 30. Each qualified applicant spoke before the Board and answered questions. Afterward, the Board selected four finalists from a pool of 11.
The Board also voted to hold an informal meet-and-greet on Oct. 30 to give the public a chance to meet the candidates in person.
Tuesday’s second hearing gave the finalists another chance to address the Board before the Supervisors took a vote. The Supervisors made their selection on written ballots, and the votes were publicly displayed and read aloud. After four rounds of voting, the results showed Cohen with the most votes appointing him as the new Treasurer-Tax Collector.
The appointee will serve until the current term ends on Jan. 4, 2027. An election will determine a successor for the following four-year term.
Cohen is tentatively scheduled to be sworn in at the Nov. 18 Board of Supervisors meeting.
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.
