California State Treasurer Fiona Ma announced that she has appointed longtime debt management director Lakshmi Kommi of San Diego to the California Debt and Investment Advisory Commission (CDIAC).
Treasurer Ma is the Chair of CDIAC, which is the State’s clearinghouse for public debt issuance information. It assists state and local agencies with the monitoring, issuance and management of public debt. CDIAC is also responsible for improving the practice of public finance in California by providing responsive and reliable information, education, and guidance to state and local public agencies and other public finance professionals.
“Lakshmi has more than 25 years of experience in municipal finance in the issuer capacity,” said Treasurer Ma. “The State is lucky to have someone of her experience step into this role as a Commissioner.”
Ms. Kommi has overseen numerous public and private bond transactions and manages the City of San Diego’s debt portfolio of roughly $3.4 billion. In addition to implementing complex financing plans while keeping the City’s costs low, her department ensures through a citywide Formal Compliance Monitoring Program that the City is in compliance with respect to all city bond offerings.
Ms. Kommi served as a public member on the Municipal Securities Rulemaking Board from 2013-2019 and was the founding member to serve on the San Diego Board for Women in Public Finance. She serves on the City of San Diego’s Disclosure Practices Working Group and the Capital Improvement Program Review Advisory Committee.
She replaces Nadia Sesay of San Francisco, who served one year on the Commission.
This article was released by the California State Treasurer’s Office.