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Section 12: Rental Payments

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General

Districts are responsible for receiving all rental payments for leases within their jurisdiction.

Rental payments are due in advance of the commencement of the lease term and on or before the first day of the month, if paid monthly, or on or before the anniversary of the commencement date if paid annually.

All rental payments should be deposited immediately upon receipt , by rapid deposit, into Fund 6. The District needs to include the lease number in the "Description" section of the deposit slip and the "Object of Revenue Code" is 3746 . Correct information must appear on the deposit slip so that a proper accounting of lease revenues can be assured.

The District Right of Way Section should notify the District Accounting Section of all leases and should request that the Accounting Section be responsible for receiving and depositing rental payments. The Accounting Section should set up a tracking file to monitor when rental payments are due. If a rental payment is past due, the Accounting Section should notify the Right of Way Section for handling in accordance with procedures described below.

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