Report 2014-501 Recommendation 1 Responses
Report 2014-501: State Lands Commission—Follow-Up Review (Release Date: July 2014)
Recommendation #1 To: Lands Commission, State
To ensure that the commission is performing rent reviews in a timely manner, it should review its database and correct the "Next Rent Review" date so that rent reviews are scheduled to take place every five years.
60-Day Agency Response
Commission staff has completed verification all of the rent reviews posted to the database. Data gaps were found in some transitional records; those that were being processed at the time of data conversion. All revenue producing leases were reviewed to ensure there was a rent review date. Those that did not show a rent review date in the database were individually verified to determine if a rent review was required. Leases having an annual fixed percentage or inflation adjustment will not require a rent review. Leases that were expired or in negotiations will not have a rent review date until new lease is executed. Corrections were made as appropriate. These and other data elements are continuing to be reviewed for accuracy.
- Completion Date: August 2014
- Response Date: September 2014
California State Auditor's Assessment of 60-Day Status: Fully Implemented
Agency responses received are posted verbatim.