Sac State University Policy Manual
Property Tax Exemption
Policy Administrator: Vice President for Administration
Authority:  Executive Order 1000
Effective Date:  January 1, 2010
Updated: College Property Tax Exemption, Possessory Interest Tax Exemption, Qualified Lessor Tax Exemption
Index Cross-References:
Policy File Number: ADM-0167

        

PROPERTY TAX EXEMPTION

 

California State University Executive Order 1000 (EO-1000) governs the delegation of fiscal authority and responsibility.  Section II (bullet 3) of EO-1000 requires the President or designee to ensure that appropriate internal controls are in place for the safeguarding of assets and the reliability of financial reporting.  Bullet 8 of the same section requires the President or designee to ensure the propriety of all expenditures and the integrity of the financial reporting made by the Auxiliary Organizations and provide timely financial reports prepared in accordance with Generally Accepted Accounting Principles from those auxiliaries. 

 

The Chief Financial Officer (CFO) as the President’s designee is responsible for ensuring the University and the recognized auxiliaries file under his signature any and all applicable tax exemption forms in a timely manner to ensure the safeguarding of assets of the Sacramento State Community.  These forms may include; but, are not limited to, College Property Tax Exemption, Possessory Interest Tax Exemption, and the Qualified Lessor Tax Exemption.  The Assistant Chief Financial Officer (Associate Vice President for Financial Services) may also sign these official forms in the absence of the CFO.

 

Responsibilities

It is the responsibility of all University and Auxiliary Accounting staff members to promptly forward property-related tax exemption forms, property tax invoices, or any property tax-related items to University Auditing Services.  The Director or the Senior Management Auditor will review for accuracy.  Exemption forms will be forwarded to the CFO for approval and invoices will be forwarded for payment through the University (Budget) or Auxiliaries (Controllers). 

Scope
This policy applies to all University entities hold property assets.

Process

See Responsibilities above

 

Approved by Alexander Gonzalez

January 10, 2010