Comprehensive Annual Financial Report - City of Santa Monica
Comprehensive Annual Financial Report - City of Santa Monica
Comprehensive Annual Financial Report - City of Santa Monica
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CITY OF SANTA MONICA, CALIFORNIA<br />
Management’s Discussion and Analysis, Continued<br />
Year ended June 30, 2009<br />
CITY OF SANTA MONICA<br />
Capital Assets (net <strong>of</strong> depreciation)<br />
(in millions)<br />
Governmental activities Business-type activities Total<br />
2008-09 2007-08 2008-09 2007-08 2008-09 2007-08<br />
Land $ 150.9 145.3 72.4 72.6 223.3 217.9<br />
Land held under easement 72.2 72.2 - - 72.2 72.2<br />
Buildings 244.2 210.6 39.0 39.5 283.2 250.1<br />
Improvements other than buildings 36.3 39.4 6.0 6.6 42.3 46.0<br />
Machinery and equipment 9.3 11.5 39.0 46.8 48.3 58.3<br />
Infrastructure 191.4 197.6 215.6 208.6 407.0 406.2<br />
Utility systems 5.0 5.0 - - 5.0 5.0<br />
Construction in progress 14.4 43.3 72.3 42.9 86.7 86.2<br />
Capital assets, net $ 723.7 724.9 444.3 417.0 1,168.0 1,141.9<br />
Some <strong>of</strong> the <strong>City</strong>’s major capital asset events in the current fiscal year were:<br />
Additions to the General Fund construction in progress in FY 2008-09 include $1.8 million in<br />
tenant improvements to the Civic Center Parking Structure.<br />
Additions to the Downtown Redevelopment Project Fund in FY 2008-09 include $11.7 million<br />
for the purchase <strong>of</strong> two parcels <strong>of</strong> land with buildings on 5 th Street and construction in progress <strong>of</strong><br />
$2.0 million for the retr<strong>of</strong>it <strong>of</strong> parking structures and $1.5 million for improvements to the<br />
Mountain View Mobile Home Park.<br />
Additions to the Low and Moderate-Income Housing Fund in FY 2008-09 include $1.6 million<br />
in construction in progress for improvements to the Mountain View Mobile Home Park.<br />
Additions to the TORCA Fund in FY 2008-09 include $1.3 million in construction in progress for<br />
improvements to the Mountain View Mobile Home Park.<br />
Additions to the Clean Beaches and Ocean Parcel Tax Fund in FY 2008-09 include $1.0 million<br />
in infrastructure for the replacement <strong>of</strong> the Pier storm drain.<br />
Additions to the Pier Fund construction in progress in FY 2008-09 include $2.4 million in<br />
expenditures for the replacement <strong>of</strong> the Pier’s central restroom.<br />
Additions to the Big Blue Bus Fund construction in progress in FY 2008-09 include $30.9 million<br />
in expenditures for Phase 3 <strong>of</strong> the Campus Expansion construction.<br />
Additions to the Miscellaneous Grants Fund construction in progress in FY 2008-09 include<br />
$13.2 million to complete the revitalization <strong>of</strong> the property at 415 Pacific Coast Highway.<br />
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