To the Editor:
Under state law, the City of Alameda is required to report any revenues generated from State Lands Trust properties to the state on an annual basis. Through a public records act request, staff found that the City had not been correctly classifying lease and license revenue in State Lands Trust areas at Alameda Point into a separate fund. We are not aware of why this has been the case, but staff have been working with the California State Lands Commission and our property management team to separate out the revenues and correct our reporting.
Beginning with the current fiscal year, the City will have a separate account for Alameda Point State Lands funds. We have identified the lease and license accounts that will be distributed into this fund, and we will provide the State Lands Commission with reports for Fiscal Year 2022-2023 and Fiscal Year 2023-2024. The City cannot retroactively reclassify these funds as the accounting and auditing for prior fiscal years have been closed. The State Lands Commission staff have confirmed that this is an acceptable solution.
The City has separately reported State Lands Trust properties outside of Alameda Point to the Commission.
Staff appreciate Richard Bangert’s keen eye towards this matter which has helped us become more accurate in our reporting requirements, and we appreciate the collaboration of the State Lands Commission to resolve this matter.
Sarah Henry
Communications Director, City of Alameda
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