CITY OF PACIFIC GROVE
300 Forest Avenue, Pacific Grove, California 93950
HONORABLE MAYOR AND MEMBERS OF CITY COUNCIL
CHARLENE WISEMAN, INTERIM CITY MANAGERJIM BECKLENBERG, DIRECTOR OF MANAGEMENT AND BUDGET
JANUARY 14, 2009
SUBJECT:RECEIVE THE CAPITAL ASSETS REPORT FOR FISCAL YEARENDED JUNE 30, 2008
Section 2.14.010 of the Pacific Grove Municipal Code requires the City Manager to present a report to the City Council showing an inventory of the fixed assets of the city each year as of the beginning of the fiscal year.
THIS DOES NOT CONSTITUTE A “PROJECT” UNDER CALIFORNIAENVIRONMENTAL QUALITY ACT (CEQA) GUIDELINES
Receive the report.
Section 2.14.010 of the Pacific Grove Municipal Code (PGMC) requires the City Manager topresent a report to the City Council showing an inventory of the fixed assets of the city each yearas of the beginning of the fiscal year.PGMC Section 2.14.020 specifies the assets required to be included in the inventory. Criteriainclude:Such of the following as have a useful life of at least three years, shall be carried, reported andvalued on the inventory required by Section 2.14.010:(a)Real property held in fee title by the city, other than structures and improvementsthereon and other than land currently used for street and road purposes;(b)Any structures or improvements upon land which have a value of $2,500.00 or more,except for appurtenances to streets and roads;(c)Fixtures which are attached to structures, which are not intended to be removed andwhich have a value of $2,500.00 or more;(d)Each item of equipment, such as furniture, machines, tools and vehicles constitutingmovable personal property having a value of $2,500.00 or more;(e)Any replacement of any unit of a structure or improvement to real property whichresults in an improvement of at least $1,000.00 or twenty percent of the recorded value of theasset, whichever is lower;(f)Any replacement of any unit of any equipment which results in an improvement of at
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Consent Agenda Item No. 2.A