Comprehensive Annual Financial Report - City of Santa Monica

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