Santa Monica, Calif. ? Gov.-elect Arnold Schwarzenegger introduced key members of his transition team Thursday, saying the first order of business is to conduct an audit to find out just how serious the state’s deficit is.

Schwarzenegger, who will take office as soon as the results of Tuesday’s recall election are certified, said his first priority would be investigating the state’s finances. The Republican said the state’s budget shortfall for next fiscal year might have climbed to at least $10 billion.

“One of the first things we have to do is audit. Open up the books and let the people look inside. Let the sun shine in,” Schwarzenegger said.

Several Democrats are among the 67 California notables on the Republican’s team, including San Francisco Mayor Willie Brown, Los Angeles Mayor James Hahn and former Assembly Speaker Bob Hertzberg. Republicans include former Gov. Pete Wilson, former U.S. secretary of state and treasury George Shultz and Bill Simon, once a rival of Schwarzenegger’s in the recall election.

Schwarzenegger on Thursday also called on Gov. Gray Davis not to make any more appointments or sign legislation in the waning days of his administration, although Schwarzenegger acknowledged it is Davis’ right to do so.

Meanwhile, Davis met Thursday afternoon with his Cabinet members, asking that they cooperate with Schwarzenegger’s team.