Treasurer of California · Election November 3, 2026 · Updated
Who should I vote for in the California treasurer race?
Eleni Kounalakis has the strongest record in the California treasurer race. Eleni Kounalakis scores 63 out of 100 on the Ballot Standard, as of October 9, 2026. Eleni Kounalakis's highest marks are command of the job and relevant experience. Jennifer Hawks (6 of 15 criteria) has too little public record to score. Every score comes from public records on character, qualifications and performance, the same way for every party.
Republican
Jennifer Hawks
Not enough public record for a score
Public evidence on 6 of 15 criteria
- Character
- 50
- Qualifications
- 50
- Performance
- NR
Democratic
Strongest record
Eleni Kounalakis
63 / 100
Public evidence on 8 of 15 criteria
- Character
- 50
- Qualifications
- 70
- Performance
- NR
The good, the bad and the unresolved
The record
The notable facts of each candidate's public life, each tied to a source and confirmed to be this person. Unresolved matters are labeled with where they stand and do not move a score.
Jennifer Hawks
- On the record2026
First-time candidate with no elected office; most recently on the executive team at Sacred Heart Schools in Atherton before retiring.
Sources: LAist (CalMatters voter guide), Oct. 2026, San Francisco Examiner, June 23, 2026
- On the record2026
Local Republican Party activist; completed Ballotpedia's 2026 candidate survey.
Sources: LAist (CalMatters voter guide), Oct. 2026, Ballotpedia, Jennifer Hawks
Eleni Kounalakis
- On the record2025-04
Her disclosed holdings include Sacramento office buildings renting to lobbying groups and at least three state agencies; her campaign said she would use a blind trust if elected governor.
Source: CalMatters, April 2025
- On the record2025 to 2026
Her campaign declined or did not answer CalMatters interview requests about her assets (2025) and the treasurer race (2026).
Sources: CalMatters, April 2025, CalMatters, May 2026
- On the record2023-12
Wrote to Secretary of State Weber urging her to use the Colorado ruling to keep Donald Trump off California's primary ballot; Weber declined and he stayed on.
Sources: KQED, Dec. 2023, CBS Los Angeles, Dec. 2023
- On the record2019
Became the first woman elected lieutenant governor of California and chaired the State Lands Commission in 2019.
- On the record2010 to 2013
Served as U.S. ambassador to Hungary under President Obama after years as a major Democratic donor.
Source: CalMatters, May 2026
- Credit2023-07-06
The University of Piraeus in Greece awarded her an honorary doctorate in July 2023, citing her contribution to diplomacy, entrepreneurship and politics.
Who they are
Character
Integrity
Tells the truth, keeps their word, and takes no private gain from public office.
Jennifer Hawks. No public record found.
Eleni Kounalakis. Has filed annual statements of economic interests since 2018, listing property holdings that rent to lobbying groups and state agencies; has not used a blind trust. No FPPC or ethics finding found.
Source: CalMatters, April 2025
Courage
Takes a stand that costs them something, including telling their own side no.
Jennifer Hawks. No public record found.
Eleni Kounalakis. No public record found.
Accountability
Owns mistakes, answers hard questions, and works in the open.
Jennifer Hawks. Appeared in a live-streamed public conversation with Assemblymember Carl DeMaio and gave her positions to CalMatters and Inside California Politics. No 2026 general election debate found.
Sources: CalMatters, May 2026, KTLA (Inside California Politics), June 2026
Eleni Kounalakis. No public record found.
Temperament and judgment
Steady under pressure, decides on evidence, and treats opponents and staff with respect.
Jennifer Hawks. Most recently on the executive team at Sacred Heart Schools in Atherton. No conduct finding found.
Eleni Kounalakis. Lieutenant governor since 2019 and U.S. ambassador to Hungary (2010 to 2013). No formal censure or conduct finding found.
Fidelity to the oath
Uses power inside its limits: accepts certified results, obeys court rulings, follows the rules of the office.
Jennifer Hawks. No public record found.
Eleni Kounalakis. Sworn as ambassador and lieutenant governor. No misuse-of-office finding and no action to reject certified results found. Her 2023 request that Weber explore removing Trump from the primary ballot is in the Record.
What they bring
Qualifications
Relevant experience
Has done work that prepares them for this specific office.
Jennifer Hawks. Business and school administration career; no elected office.
Sources: LAist (CalMatters voter guide), Oct. 2026, San Francisco Examiner, June 23, 2026
Eleni Kounalakis. Two terms as lieutenant governor, which seats her on state finance-adjacent boards such as the State Lands Commission, plus an ambassadorship and 18 years at a housing development firm. Not previously treasurer.
Sources: Office of the Lieutenant Governor, biography, LAist (CalMatters voter guide), Oct. 2026
Command of the job
Knows the issues and knows what the office can and cannot do.
Jennifer Hawks. General plans for transparency, ending what she calls reckless investments and pension board service; states the office cannot rewrite budgets or laws.
Sources: Ballotpedia Candidate Connection survey, May 2026, California Secretary of State, Official Voter Information Guide
Eleni Kounalakis. Chaired the State Lands Commission in 2019 and serves on the UC Regents and CSU Trustees. Lists treasurer plans on affordable housing finance and pensions.
Sources: California State Lands Commission, Feb. 4, 2019, California Secretary of State, Official Voter Information Guide
Communication
Explains plainly, persuades, and listens.
Jennifer Hawks. Completed the 2026 Ballotpedia survey and filed a state voter guide statement.
Sources: Ballotpedia, Jennifer Hawks, California Secretary of State, Official Voter Information Guide
Eleni Kounalakis. Completed the GrowSF questionnaire and filed a state voter guide statement. Did not complete the 2026 Ballotpedia survey.
Sources: GrowSF questionnaire, June 2026, Ballotpedia, Eleni Kounalakis
Roots in the constituency
Lives there, knows the people, and is funded by them.
Jennifer Hawks. Bay Area resident and local Republican activist. Years of residence and donor share not available.
Source: CalMatters, May 2026
Eleni Kounalakis. Native Californian who spent 18 years at a Sacramento housing developer and visited all 58 counties as a candidate. In-state donor share not available.
Management
Can build and run an organization.
Jennifer Hawks. No public record found.
Eleni Kounalakis. Was president of AKT Development before public service and runs the lieutenant governor's office. No FPPC fine or official finding about her campaigns found.
Source: Fox 5 San Diego (Inside California Politics), June 2026
What they deliver
Performance
Results
Turns ideas into outcomes.
Jennifer Hawks. No public record found.
Eleni Kounalakis. No public record found.
Showing up
Does the basic work of the job.
Jennifer Hawks. No public record found.
Eleni Kounalakis. No public record found.
Constituent service
Solves problems for the people they represent.
Jennifer Hawks. No public record found.
Eleni Kounalakis. No public record found.
Coalition building
Wins support beyond their own faction.
Jennifer Hawks. No public record found.
Eleni Kounalakis. No public record found.
Stewardship of public money
Treats tax dollars as someone else's money.
Jennifer Hawks. No public record found.
Eleni Kounalakis. No public record found.
How to read this
Each criterion is scored 0 to 4 against the written rubric in the Ballot Standard. NR means no record: there is no reliable public evidence either way, so the criterion is left out and never counts against the candidate. A total is published when at least 8 of 15 criteria have evidence.
A sitting officeholder has a longer public record than a first-time candidate, so the two totals rest on different amounts of evidence. Read the count of criteria beside each score. Low marks require an official finding or a primary record. Allegations and opinion are not used.
No policy position is scored. Evidence checked October 9, 2026. Campaigns and readers can send a correction with a public source to tpg@thepoliticalgroup.com.
Questions
Who should I vote for in the California treasurer race?
Eleni Kounalakis has the strongest record in the California treasurer race. Eleni Kounalakis scores 63 out of 100 on the Ballot Standard, as of October 9, 2026. Eleni Kounalakis's highest marks are command of the job and relevant experience. Jennifer Hawks (6 of 15 criteria) has too little public record to score. Every score comes from public records on character, qualifications and performance, the same way for every party.
Who is running in the California treasurer race in 2026?
Jennifer Hawks (Republican), Eleni Kounalakis (Democratic). The general election is November 3, 2026.
Is Jennifer Hawks a good candidate for Treasurer?
Jennifer Hawks has public evidence on 6 of the 15 Ballot Standard criteria, short of the 8 needed for a score. The evidence that exists is shown on the scorecard. No record never counts against a candidate.
Is Eleni Kounalakis a good candidate for Treasurer?
Eleni Kounalakis scores 63 out of 100 on the Ballot Standard, with public evidence on 8 of 15 criteria: character 50 of 100, qualifications 70 of 100, performance no record. The standard measures character, qualifications and performance, not policy positions.
How is the strongest record decided?
The candidate with the highest Ballot Standard score has the strongest record. Each of 15 criteria on character, qualifications and performance is scored 0 to 4 from public records and established reporting, the same way for every party. No policy position is scored, and unresolved accusations never move a score.
More on this race: every California race scored, and the California 2026 election guide. Independent scorecard by The Political Group, not affiliated with any candidate or party.