revised final gasb 34 report - oxnard · 2019-10-18 · infrastructure inventory and valuation...

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March 3, 2006

INFORMATION ONLY

March 3, 2006 Lettie De Dios Accounting Manager City of Oxnard 300 West Third Street Oxnard, California 93030

pìÄàÉÅíW= oÉîáëÉÇ=cáå~ä=oÉéçêí=Ó=d^p_=PQ=fåÑê~ëíêìÅíìêÉ=s~äì~íáçå=pÉêîáÅÉë= Dear Lettie: Transmitted herewith is the Revised Final Report in conjunction with the GASB 34 Infrastructure Valuation Services project. The information contained in this report presents the findings from our valuation of the City’s infrastructure assets as they pertain to the requirements of GASB 34. The Revised Final Report also contains the necessary support documentation and methodologies that were used to develop the historic costs and current net book values. We are confident that the approach and methodologies embodied in this report meet the rigors of GASB 34 and that of your independent auditor. We enjoyed working with you and the other City staff on this project. Should you have any questions or need additional information, please contact me at (800) 827-4901 ext. 334. Sincerely,

e~êêáë=C=^ëëçÅá~íÉë= Dennis Anderson Project Manager/Associate

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GASB 34 COMPLIANCE REPORT

Infrastructure Compliance Valuation Services

TABLE OF CONTENTS

Page SUMMARY OF GASB 34 REQUIREMENTS AND DEADLINES...........................................................1 BACKGROUND AND INTRODUCTION ..................................................................................................2 PROJECT UNDERSTANDING...................................................................................................................3 SCOPE OF SERVICES............................................................................................................................. 4-9 DETERMINATIONS RE: GASB 34 REQUIREMENTS .........................................................................10

Assets to be Reported .............................................................................................................................10 Reporting Method...................................................................................................................................10 GASB 34 Reporting Level .....................................................................................................................10 Capitalization Policy ..............................................................................................................................10 Useful Life of Infrastructure Assets .......................................................................................................10 Valuation Methodology..........................................................................................................................11 Valuation of Pre-1980 Infrastructure Assets ..........................................................................................11 ENR Indexing and Units Costs...............................................................................................................11

SUMMARY OF FINDINGS................................................................................................................. 12-13

Roadway Network—Pavement ..............................................................................................................14 Roadway Network—Curb and Gutter ....................................................................................................15 Roadway Network—Sidewalks..............................................................................................................16 Roadway Network—Ribbon Gutter .......................................................................................................17 Roadway Network—Traffic Signals ......................................................................................................18 Roadway Network—Bridges..................................................................................................................19 Waterways/Seawalls—N/A....................................................................................................................20 Storm Drain Network—Pipes.................................................................................................................21 Storm Drain Network—Catch Basins ....................................................................................................22 Rights-of-Way Network—N/A ..............................................................................................................23

PROCEDURES FOR CAPTURING FUTURE GASB 34 INFORMATION ............................................24 PROCEDURES FOR UPDATING THE ASSET MODULES...................................................................25 APPENDIX (Exhibits A through M)


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SUMMARY OF GASB 34 REQUIREMENTS AND DEADLINES

By release of Statement 34 on June 30, 1999, the Governmental Accounting Standards Board, a national non-profit organization, now requires that states, local governments and other public agencies annually report (full disclosure) the net value of all capital assets, including infrastructure assets, in order to achieve GAAP (generally accepted accounting principles). GASB 34 defines infrastructure assets as “…long-lived capital assets that are stationary in nature and normally can be preserved for a significantly greater

number of years than most capital assets. Examples of infrastructure assets include roads, bridges,

tunnels, drainage systems, water and sewer systems, dams and lighting systems…” In addition, land is to be valued at original cost without depreciation.

• Basic Approach:

• Up-to-date inventories must be accomplished/maintained

• Original acquisition costs or estimated costs must be applied

• Depreciation must be applied to historical values

• Modified Approach:

• Up to date inventories must be accomplished/maintained

• Original acquisition costs or estimated costs must be applied

• Asset management systems must be put in place and include condition level assessment and setting every three years with costs budgeted to match condition level policies.

GASB 34 requires compliance by certain dates based upon annual revenues of public agencies. The City of Oxnard is what is called a Phase II agency, which had annual revenue of between $10 million and $100 million on July 1, 1999. This requires that the City begin reporting assets for the fiscal year ending June 30, 2005. A four-year “grace/transition period” is allowed for reporting “major general infrastructure assets” under certain conditions.



BACKGROUND AND INTRODUCTION

Harris & Associates was retained by the City of Oxnard to prepare a comprehensive infrastructure valuation for the purpose of reporting the current Net Book Value of Infrastructure Assets (assets) in compliance with GASB 34. Infrastructure Inventory and Valuation

Using source file information and inventories as well as information obtained from City staff, the work involved the review or completion of certain inventories, determination of historical costs and acquisition dates (estimated and actual) for assets. In addition, useful life determinations were made so that depreciation can be calculated (using the Basic Approach prescribed in GASB 34) to arrive at current Net Book Value (also expressed as residual value). Valuations are provided, as requested by your auditor, for June 30, 2004 and June 30, 2005. This gives you asset value balances for the end of FY2003-04 and the beginning of FY2004-05 as well as ending balances for FY2004-05 and the beginning of FY2005-06. These separate valuations are noted on the valuation summaries in the text of the report and the supporting spreadsheets (asset modules).



PROJECT UNDERSTANDING

City Guidance and Direction

The City Staff has made decisions and provided directions with respect to approach and methodology for GASB 34 infrastructure valuation and reporting, which include the following:

� All infrastructure assets will be capitalized and depreciated, rather than using the "modified approach."

� Straight-line depreciation will be used to arrive at Net Book Value. � All significant costs associated with infrastructure assets are to be capitalized, including

Engineering Design, Construction Management, or other soft costs. � All such assets are to be capitalized from date of acquisition or estimated date of acquisition. � Reasonable estimation techniques to arrive at estimated acquisition dates historical costs (using

standard industry price indexes) for such assets are acceptable. � Assets acquired or placed in service prior to July 1, 1980 will be inventoried, valued or reported.

Networks and Subsystems

The following are the Networks and Subsystems of Infrastructure Assets included in the valuation work.

Network Subsystem

Roadway PavementCurb & GutterSidewalksRibbon GutterTraffic SignalsBridges

Waterways/Seawalls N/A

Storm Drain PipesCatch Basins

Rights-of-Way Land N/A



SCOPE OF SERVICES

Project Approach The following represents our approach to the Infrastructure Inventory and Valuation project in order to achieve the City’s internal objectives as well as GASB 34 compliance. In essence, it served as our proposed “Scope of Services” for the project and provided you with a narrative of what we believed were essential tasks, detailed tasks, steps, and methodologies for phases and components that were proposed to accomplish the project.

Essential Tasks These were the essential tasks performed for the inventory and valuation of assets for the project:

� Determined the adequacy of existing inventories and other City records for availability of Network and Subsystem information on assets, including quantity, location, acquisition dates, historical costs.

� Assembled and analyzed detailed inventories of the relevant Infrastructure assets by type and components/features.

� Compiled inventories based upon City records and other source data for utilization of the Basic Approach (depreciation).

� Determined the classification of assets and the reporting level for asset type: Network or Subsystem.

� Evaluated and provided advice with respect to appropriate capitalization level policy/threshold for infrastructure assets.

� Determined actual acquisition (or placed in service) date, or estimated the acquisition date.

� Determined useful life of assets by asset type.

� Established unit cost(s) of assets (by Network and Subsystem) and component parts/features to establish replacement cost, and utilize composite cost methodology when necessary and appropriate. Actual costs were used when available.

� Found actual historical cost or applied the ENR Construction Cost Index to arrive at estimated historical cost when actual cost is not available.

� Utilized “straight line” depreciation to arrive at Net Book Value of assets. The depreciation formula used is as follows:



Work Plan by Tasks and Methodologies

This provided the City with the necessary inventory, source data analysis and valuation work for the selected assets. The level of effort included those tasks as reflected to the City. The deliverable will be a Final Report that contains a Master File inclusive of all necessary inventory, historical cost, acquisition dates, depreciation schedules, methodologies, calculations, and Net Book Value.

Task No. 1: Review Completeness/Adequacy of City Inventories and Records

This involved a preliminary review of City-provided information, including existing inventories, subdivision and parcel maps, PMS (Pavement Management System), GIS (Geographic Information System), Capital Improvement Programs, and civil improvement plans to determine the extent to which sufficient records exist which contain actual acquisition dates and historical costs on assets and what “information gaps” exist. This was necessary to determine their reliability for use and the extent to which estimates of acquisition dates and historical costs needed to be used. This also assisted in determining whether information should be collected and/or estimated on the Network or Subsystem level for which assets and whether sufficient information was available to report the value of assets acquired prior to July 1, 1980.

We met with City staff to review the preliminary findings and recommendations so that determinations could be made on the best methodologies to be used for the valuation work on each of the asset types and components.

Task No. 2: Inventory Research

Step 1. In-depth Review of Inventories and City Records:

A. Use of Existing Inventories/Records: This methodology was to be used for all assets. The examination included review of GIS and PMS data, existing inventories, master plans, bond records, “as-builts,” engineering information, and other documents. These materials primarily assisted in determining the date of acquisition (construction or placed into service), and the data gleaned served as the basis for determining historical costs.

Step 1:

Estimated Historical Cost / Estimated Useful Life = Annual Depreciation

Step 2:

Annual Depreciation x Current Age = Accumulated Depreciation

Step 3:

Estimated Historical Cost - Accumulated Depreciation = Current Net Book Value

Straight-Line Depreciation Formula



B. Where historical data was unavailable or required substantial research to complete, we used statistically representative sampling techniques to arrive at estimates of acquisition dates as well as asset value using unit costs, composite costing and composite depreciation.

Step 2. Determine Asset Classification and Network/Subsystem Reporting Level:

Based upon the nature, extent, and detail of data reviewed, recommendations were made for the purposes of identifying and classifying relevant assets. In particular, this effort was focused on identifying GASB 34 Networks and Subsystems of the assets as well as the level of asset component that was utilized for inventory and asset management purposes.

Step 3. Determination of Useful Life:

Based upon the appropriate classification and level of asset component desired for asset management and GASB 34 reporting purposes, recommendations were prepared with respect to the useful life of assets (and asset components). These determinations were necessary in order to calculate the annual depreciation assets. When joined with the acquisition date and historical cost, accumulated depreciation and Net Book Value could be determined.

Step 4. Evaluation of Existing and Appropriate Capitalization Level Policy

We evaluated the existing capitalization level policy and provided advice on an appropriate threshold level for capital and infrastructure assets, which typically have substantially more value than “fixed assets” (building contents, equipment, fleet, etc.).

Task No. 3: Acquisition and Valuation Effort

This involved the multiple tasks of retrieving or estimating asset acquisition dates and historical costs when necessary and calculating depreciation based upon these factors as well as useful life in accordance with the formula shown earlier. The following provides the methodologies used to achieve these calculations and arriving at Net Book Value.

Acquisition Date Methodology: Actual acquisition dates were used for all asset types, or estimates were made based upon available data. Estimated acquisitions were used when “actuals” were not available.



Costing Methodology: The “composite cost” method was used to establish historical cost where actual original cost could not be determined. In these situations, replacement value was determined on a current unit cost basis. Unit costs were applied to appropriate asset components and Subsystems in terms of total square footage, linear footage, or other appropriate unit measurement.

Valuation Methodology: Actual historical costs were used when available in City records. The ENR Construction Cost Index was applied to arrive at estimated historical cost, when necessary. Straight-line depreciation was applied to the useful life for the assets, and “composite depreciation” was used in conjunction with composite costing, as necessary and based upon lack of available actual data. This achieved historical cost as well as current/replacement cost, accumulated depreciation, annual depreciation and resulted in current Net Book Value.

Task No. 4: Comprehensive Maintenance and Perpetuation Procedures

Step 1. Establish Asset Modules via Microsoft Excel for Networks/Subsystems:

These modules provide the following detailed information: Asset description, component and Subsystem, quantities, historical cost, acquisition date, unit cost, replacement cost, useful life, annual depreciation, accumulated depreciation, and calculations of salvage/residual (Net Book Value).

This information was documented in spreadsheets and appears in the Draft Final Report Appendices. They are also available in electronic form (Microsoft Excel) via CD-ROM. These spreadsheets (Asset Modules) will be helpful in future years in that “future” asset data (quantities, costs, acquisition dates, and useful life) can be input into the Asset Modules, and the computer program will perform the calculations for annual depreciation, accumulated depreciation, and Net Book Value. These data will serve as the City’s Master File for GASB 34 reporting purposes.

Step 2. Preparation of an Administrative Instruction and Form for Capturing Future Asset

Information:

An “Administrative Instruction” memorandum was prepared along with a one-page form, which can be used (electronically or hard copy) by applicable City divisions and departments in capturing infrastructure asset information in future years, both for asset management and GASB 34 reporting purposes. Suggested instructions are provided on what and when such information should be collected. The form provides the format for the information detail (asset/asset component, location, quantity, cost, acquisition date, etc.) such that it can be easily transferred to the Asset Modules (Master File) and City accounts/financial records/statements.

Task No. 5: Project Planning and Coordination

City staff was periodically provided with the following communications on the progress of the project:

� Project Orientation-Kickoff Meeting: This initial meeting introduced the City staff and Harris team. Discussion items included initial review of inventories and other source data, location of this information, in-house work area for research, discussion of methodologies, classification of assets, designation of Networks/Subsystems, capitalization policies, project contacts, and project work schedule.

� Verbal communication as often as necessary in order to verify, refine, and complete the project and review project progress.



Task No. 6: Preparation of GASB 34 Final Report(s)

Step 1: Prepare Summary of Findings:

We view this as a “Draft Final Report” document that can be easily reviewed and understood by City Council staff, the general public and the City’s independent auditor. This report contains and is formatted in the following manner:

A. General Summary: This provides a summary of the project, GASB 34 requirements, information sources, basic recommendations and determinations, methodologies (procedures and definitions) used, and a listing of asset/asset components categorized with Networks and Subsystems.

B. Separate Sections for each Asset (by component classification and Subsystem): Each Section is organized in a manner that the City can report either by Network or Subsystem and includes the following information:

� Asset name or description, within designated reporting category of Network or Subsystem.

� Summary inventory of Asset, identifying major components.

� Listing of resources (City records) used to assemble/compile inventories.

� Location (address or to/from) if available.

� Quantities (appropriate unit measurements).

� Replacement cost and unit cost.

� Methodologies used to determine acquisition dates.

� Useful life of each Asset by type/subsystem.

� Methodology used to determine acquisition date.

� Methodology used to determine historical cost, including calculations.

� Formula/methodologies for applying depreciation (straight-line) to determine Net Book Value, including calculations.

� Net Book Value of each asset/asset component by Subsystem, as of July 1, 2004 and June 30, 2005.

C. Appendices/Spreadsheets: Detailed spreadsheets documenting all asset components, with quantities, historical costs, cost indexes, useful life(s), depreciation (accumulated and annual), and salvage/ residual value (Net Book Value results) showing all calculations. This document, along with the narrative Final Report constitutes the “Master File” for the production of required GASB 34 financial records and statements.

Step 2. Review Results with, and Presentation to City Project Team:

We met with the designated City staff and others (such as the City’s auditor) to present, review, and clarify any aspects of the “Draft Final Report.” This meeting is in addition to the Progress Meetings referenced earlier.



Step 3. Final Report:

The Final Report and Appendices contain all necessary historical cost, useful life, replacement value, unit cost, and depreciation information for the identified assets in the format described in Task No. 6, Step 1 (above). All support documentation is provided electronically and by hard copy. This allows for prompt and efficient implementation in the City’s accounting records and for production of GASB 34-compliant financial statements.



DETERMINATIONS RELATIVE TO GASB 34 REQUIREMENTS

Recommendations were provided and determinations were made by the City relative to certain GASB 34 requirements and options. They are as follows:

Assets to be Reported

Those Infrastructure Assets are listed on Page 3 of this report. Reporting Method

The Basic Approach. This involves establishing the acquisition date, historical cost, useful life and applying a depreciation method to arrive at Net Book Value. The straight-line depreciation method is being used for all Infrastructure Assets.

GASB 34 Reporting Level

GASB 34 allows public agencies to report the Net Current Value of assets at the Network, Subsystem or Individual level. The City has determined that it wishes infrastructure assets to be reported at the Subsystem level. As defined by GASB, a Network is composed of subsystems and component parts of infrastructure. In the immediate case, historical data has been collected, and in many cases estimated, for Infrastructure Assets at the Subsystem Level. As a result, reporting can be made at either the Subsystem or Network level. Capitalization Policy

GASB 34 requires public agencies to establish and disclose the "capitalization policy" for capital and infrastructure assets. It sets forth the dollar value above which such assets acquisitions are added to the capital asset accounts, and below which such assets acquisitions are not required to be reported. The recommended dollar value is $100,000 based on current replacement cost. It recognizes the significantly higher value of infrastructure as opposed to "fixed assets" (typically building contents). This seemingly high value threshold does not mean that individual assets below this level have not been, and will not be, counted. As reflected in the attached inventory and valuation information, individual and subsystem components have and will continue to be counted below the $100,000 threshold value so long as the relevant data can be readily captured. Useful Life of Infrastructure Assets

Use of the Basic Approach of valuing capital assets requires a determination of useful life of each type of asset in order to properly complete the formula for determining depreciation and arriving at Net Book Value. Based upon our firm's experience, utilization of industry standards, and consideration of conditions unique to the City, the following have been determined to be the useful life of the relevant Infrastructure Assets:



Valuation Methodology

In order to supplement data collection and expedite analysis wherever possible, and where information was not reasonably available in files or existing software programs, historical costs were achieved through estimates, and based upon inventory deficiencies, some acquisitions dates were also estimated. This methodology is permissible under GASB 34. Current replacement unit costs (Year 2004-2005) were established for each applicable asset. These unit costs were developed from bid tabulations, industry standard costing documents and project team experience. Devaluation models were created to convert replacement costs to estimated original costs. These models are based on the appropriate Engineering News Record Cost Index (as shown in the Appendices). Depreciation models were created to calculate depreciation on assets using the useful life(s) of assets. The “straight line” depreciation method was used (calculated through June 30, 2004-2005). The formula is presented on page 5 of this report.

Valuation of Pre-1980 Infrastructure Assets

GASB 34 allows governments to report the historical or estimated historical cost of Infrastructure Assets that were acquired, reconstructed or significantly improved in fiscal years ending after June 30, 1980 (FY 1979-80). The City selected this cutoff date for the project. The summaries and appendices reflect this information.

ENR Indexing and Unit Costs

Exhibit “A” provides a spreadsheet reflecting the ENR (Engineering News Record) Construction Cost Index data, which has been used in a number of situations to determine historical value of the assets. In a number of cases, where actual historical cost was not available, replacement value unit costs were applied, and the unit cost was indexed back to the appropriate year of actual/estimated construction.

Network Subsystem Useful Life

Roadway Pavement 30Curb & Gutter 100Sidewalks 100Ribbon Gutter 100Traffic Signals 25Bridges 100

Waterways/Seawalls N/A 75

Storm Drain Pipes 100Catch Basins 50

Rights-of-Way Land N/A N/A



SUMMARY OF FINDINGS The following will present summary information on the valuation of each Subsystem of Infrastructure Asset for the purpose of reporting in financial statements in accordance with GASB 34 and for use in the City's accounting records. Shown below, and on Exhibit “B”, is an overall summary of the current Net Book Value of the infrastructure assets by Subsystem, Network and grand total. Total current Net Book Value of all assets inventoried and valued in this project for Year 2004 is $1,217,110,116 and for Year 2005 is $1,205,352,092.

Summary of Asset Values – Year 2004

Network Subsystem

Current

Replacement

Cost

Original

Estimated

Cost

Current

Net Value

(thru 6/30/2004)

Roadway/Streets

Pavement 635,259,242$ 291,654,961$ 150,073,867$

Curb & Gutter 60,096,075$ 26,402,997$ 22,094,475$

Sidewalk 51,707,475$ 24,873,240$ 21,068,023$

Ribbon Gutter 10,737,408$ 1,958,089$ 1,313,858$

Traffic Signals 30,250,000$ 14,467,963$ 6,309,983$

Bridges 28,718,230$ 19,083,460$ 16,125,524$

Sub-total 816,768,430$ 378,440,710$ 216,985,730$

Waterways/Seawalls 57,336,188$ 22,917,964$ 14,820,283$

Sub-total 57,336,188$ 22,917,964$ 14,820,283$

Storm Drain System

Pipes 46,465,815$ 32,874,980$ 29,291,671$

Catch Basins 7,880,202$ 5,575,313$ 4,359,917$

Sub-total 54,346,017$ 38,450,294$ 33,651,588$

Land Network

Rights-of-Way N/A 951,652,515$ 951,652,515$

Sub-total N/A 951,652,515$ 951,652,515$

Grand Total $928,450,635 1,391,461,483$ 1,217,110,116$



Summary of Asset Values – Year 2005

Network Subsystem

Current

Replacement

Cost

Original

Estimated

Cost

Current

Net Value

(thru 6/30/2005)

Roadway/Streets

Pavement 635,259,242$ 291,654,961$ 140,363,569$

Curb & Gutter 60,096,075$ 26,402,997$ 21,830,445$

Sidewalk 51,707,475$ 24,873,240$ 20,819,291$

Ribbon Gutter 10,737,408$ 1,958,089$ 1,294,277$

Traffic Signals 30,250,000$ 14,467,963$ 5,731,265$

Bridges 28,718,230$ 19,083,460$ 15,934,689$

Sub-total 816,768,430$ 378,440,710$ 205,973,535$

Waterways/Seawalls 57,336,188$ 22,917,964$ 14,514,710$

Sub-total 57,336,188$ 22,917,964$ 14,514,710$

Storm Drain System

Pipes 46,465,815$ 32,874,980$ 28,962,921$

Catch Basins 7,880,202$ 5,575,313$ 4,248,410$

Sub-total 54,346,017$ 38,450,294$ 33,211,332$

Land Network

Rights-of-Way N/A 951,652,515$ 951,652,515$

Sub-total N/A 951,652,515$ 951,652,515$

Grand Total 928,450,635$ 1,391,461,483$ 1,205,352,092$



STREETS/ROADWAYS NETWORK

Subsystem: Pavement

Reporting Level

Subsystem, for pavement Useful Life of Asset

30 years for Asphalt Concrete (AC) and 50 years for Portland Cement Concrete (PCC) based upon industry standards Inventory/Valuation Data Sources

Pavement quantities and values were provided by the city. Construction dates were established using the City’s Pavement Management System. Current replacement costs were estimated by the city.

Methodologies Used to Determine Historical Cost, Acquisition Dates, and Values:

Current replacement costs were estimated to be $7.30 per square foot for AC and PCC pavement. The replacement value of pavement was indexed (see ENR Construction Cost Index) back to the year (or estimated year) of construction to arrive at estimated historical cost and then depreciated based upon age to arrive at current Net Book Value. A useful life of 30 years was implemented for AC pavement and 50 years for PCC pavement.

Net Book Value

The figures below provide all the essential information needed for the City's Comprehensive Annual Financial Report (CAFR) and associated financial statements relative to the Net Book Value of pavement. The Net Book Value for Year 2004 is $150,073,867 and for Year 2005 is $140,363,569. In addition, and based upon the methodologies described above, you will find information in Exhibit C about asset quantity, historic values, annual depreciation and accumulated depreciation.

Valuations of Pre-1980 Infrastructure Assets: Pavement information was available pre-1980; as early as 1920, therefore all pavement sections were valued.

Year

Total Area

(SF)

Current

Replacement

Cost

Original

Estimated

Cost

Annual

Depreciation

Accumulated

Depreciation

(thru 6/30)

Current

Net

Value

2004 87,021,814 635,259,242$ 291,654,961$ 9,710,298$ 141,581,094$ 150,073,867$

2005 87,021,814 635,259,242$ 291,654,961$ 9,710,298$ 151,291,393$ 140,363,569$




Subsystem: Curb & Gutter

Reporting Level

Subsystem, for curb & gutter Useful Life of Asset

100 years for Portland Cement Concrete (PCC) curb & gutter Inventory/Valuation Data Sources

Curb & Gutter quantities and values were provided by the city. Construction dates were established using the City’s Pavement Management System. Current replacement costs were estimated by the city.


Current replacement costs were estimated to be $25.00 per linear foot for PCC curb & gutter. The replacement value of curb & gutter was indexed (see ENR Construction Cost Index) back to the year (or estimated year) of construction to arrive at estimated historical cost and then depreciated based upon age to arrive at current Net Book Value. A useful life of 100 years was implemented for PCC curb & gutter.

Net Book Value

The figures below provide all the essential information needed for the City's Comprehensive Annual Financial Report (CAFR) and associated financial statements relative to the Net Book Value of this asset subsystem. The Net Book Value for Year 2004 is $22,094,475 and for Year 2005 is $21,830,445. In addition, and based upon the methodologies described above, you will find information in Exhibit D about asset quantity, historic values, annual depreciation and accumulated depreciation.

Valuations of Pre-1980 Infrastructure Assets: Curb & Gutter information was available pre-1980; as early as 1920, therefore all of the curb & gutter was valued.

Year

Total

Length

(LF)

Current

Replacement

Cost

Original

Estimated

Cost

Annual

Depreciation

Accumulated

Depreciation

(thru 6/30)

Current

Net

Value

2004 2,403,843 60,096,075$ 26,402,997$ 264,030$ 4,308,522$ 22,094,475$

2005 2,403,843 60,096,075$ 26,402,997$ 264,030$ 4,572,552$ 21,830,445$




Subsystem: Sidewalks

Reporting Level

Subsystem, for sidewalks Useful Life of Asset

100 years for Portland Cement Concrete (PCC) sidewalks Inventory/Valuation Data Sources

Sidewalks quantities and values were provided by the city. Construction dates were established using the City’s Pavement Management System. Current replacement costs were estimated by the city.


Current replacement costs were estimated to be $5.00 per square foot for PCC sidewalks. The replacement value of sidewalks was indexed (see ENR Construction Cost Index) back to the year (or estimated year) of construction to arrive at estimated historical cost and then depreciated based upon age to arrive at current Net Book Value. A useful life of 100 years was implemented for PCC sidewalks.

Net Book Value

The figures below provide all the essential information needed for the City's Comprehensive Annual Financial Report (CAFR) and associated financial statements relative to the Net Book Value of this asset subsystem. The Net Book Value for Year 2004 is $21,068,023 and for Year 2005 is $20,819,291. In addition, and based upon the methodologies described above, you will find information in Exhibit E about asset quantity, historic values, annual depreciation and accumulated depreciation.

Valuations of Pre-1980 Infrastructure Assets: Sidewalks information was available pre-1980; as early as 1921, therefore all sidewalks were valued.

Year

Total Area

(SF)

Current

Replacement

Cost

Original

Estimated

Cost

Annual

Depreciation

Accumulated

Depreciation

(thru 6/30)

Current

Net

Value

2004 10,341,495 51,707,475$ 24,873,240$ 248,732$ 3,805,217$ 21,068,023$

2005 10,341,495 51,707,475$ 24,873,240$ 248,732$ 4,053,950$ 20,819,291$




Subsystem: Ribbon Gutter

Reporting Level

Subsystem, for ribbon gutter Useful Life of Asset

100 years for Portland Cement Concrete (PCC) ribbon gutter Inventory/Valuation Data Sources

Ribbon Gutter quantities and values were provided by the city. Construction dates were established using the City’s Pavement Management System. Current replacement costs were estimated by the city. Methodologies Used to Determine Historical Cost, Acquisition Dates, and Values:

Current replacement costs were estimated to be $8.00 per square foot for PCC ribbon gutter. The replacement value of ribbon gutter was indexed (see ENR Construction Cost Index) back to the year (or estimated year) of construction to arrive at estimated historical cost and then depreciated based upon age to arrive at current Net Book Value. A useful life of 100 years was implemented for PCC ribbon gutter.

Net Book Value

The figures below provide all the essential information needed for the City's Comprehensive Annual Financial Report (CAFR) and associated financial statements relative to the Net Book Value of this asset subsystem. The Net Book Value for Year 2004 is $1,313,858 and for Year 2005 is $1,294,277. In addition, and based upon the methodologies described above, you will find information in Exhibit F about asset quantity, historic values, annual depreciation and accumulated depreciation.

Valuations of Pre-1980 Infrastructure Assets: Ribbon gutter information was available pre-1980; as early as 1920, therefore all ribbon gutter were valued.

Year

Total Area

(SF)

Current

Replacement

Cost

Original

Estimated

Cost

Annual

Depreciation

Accumulated

Depreciation

(thru 6/30)

Current

Net

Value

2004 1,342,176 10,737,408$ 1,958,089$ 19,581$ 644,231$ 1,313,858$

2005 1,342,176 10,737,408$ 1,958,089$ 19,581$ 663,811$ 1,294,277$




Subsystem: Traffic Signals

Reporting Level

Subsystem, for traffic signals Useful Life of Asset

25 years, based upon replacement system estimated by the Harris Design Group Inventory/Valuation Data Sources

Traffic signals location, quantities, construction dates and current replacement costs were provided by the Traffic Engineering & Signals Department. Methodologies Used to Determine Historical Cost, Acquisition Dates, and Values:

Current replacement costs were estimated to be $250,000 for each traffic signal. The replacement value of traffic signal was indexed (see ENR Construction Cost Index) back to the year (or estimated year) of construction to arrive at estimated historical cost and then depreciated based upon age to arrive at current Net Book Value. A useful life of 25 years was implemented for traffic signals.

Net Book Value

The figures below provide all the essential information needed for the City's Comprehensive Annual Financial Report (CAFR) and associated financial statements relative to the Net Book Value of this asset subsystem. The Net Book Value for Year 2004 is $6,309,983 and for Year 2005 is $5,731,265. In addition, and based upon the methodologies described above, you will find information in Exhibit G about asset quantity, historic values, annual depreciation and accumulated depreciation.

Valuations of Pre-1980 Infrastructure Assets: Traffic signals information was available pre-1980; as early as 1948, therefore all traffic signals were valued.

Year Qty

Current

Replacement

Cost

Original

Estimated

Cost

Annual

Depreciation

Accumulated

Depreciation

(thru 6/30)

Current

Net

Value

2004 121 30,250,000$ 14,467,963$ 578,719$ 8,157,979$ 6,309,983$

2005 121 30,250,000$ 14,467,963$ 578,719$ 8,736,698$ 5,731,265$




Subsystem: Bridges

Reporting Level

Subsystem, for bridges

Useful Life of Asset

100 years for bridges

Inventory/Valuation Data Sources

Bridges location, quantities and construction dates were provided by the city. Current replacement costs were estimated by Harris & Associates.


Current replacement costs were estimated to be $545 per square foot for bridge. The replacement value of bridge was indexed (see ENR Construction Cost Index) back to the year (or estimated year) of construction to arrive at estimated historical cost and then depreciated based upon age to arrive at current Net Book Value. A useful life of 100 years was implemented for bridges.

Net Book Value

The figures below provide all the essential information needed for the City's Comprehensive Annual Financial Report (CAFR) and associated financial statements relative to the Net Book Value of this asset subsystem. The Net Book Value for Year 2004 is $16,125,524 and for Year 2005 is $15,934,689. In addition, and based upon the methodologies described above, you will find information in Exhibit H about asset quantity, historic values, annual depreciation and accumulated depreciation.

Valuations of Pre-1980 Infrastructure Assets: All Bridges was constructed after 1980.

Year

Qty

(SF)

Current

Replacement

Cost

Original

Estimated

Cost

Annual

Depreciation

Accumulated

Depreciation

(thru 6/30)

Current

Net

Value

2004 52,694 28,718,230$ 19,083,460$ 190,835$ 2,957,936$ 16,125,524$ 2005 52,694 28,718,230$ 19,083,460$ 190,835$ 3,148,771$ 15,934,689$



WATERWAYS/SEAWALLS NETWORK

Subsystem: N/A

Reporting Level

Subsystem, for seawalls/waterways Useful Life of Asset

75 years for seawalls/waterways Inventory/Valuation Data Sources

Seawalls/Waterways quantities and locations were provided by the city. The city’s consultants (Noble Consultants, Inc.) provided the construction dates and estimated the approximate replacement costs. Methodologies Used to Determine Historical Cost, Acquisition Dates, and Values:

Current replacement costs were estimated to be $57,336,188 for seawalls/waterways. The replacement value of seawalls was indexed (see ENR Construction Cost Index) back to the year (or estimated year) of construction to arrive at estimated historical cost and then depreciated based upon age to arrive at current Net Book Value.

Net Book Value

The figures below provide all the essential information needed for the City's Comprehensive Annual Financial Report (CAFR) and associated financial statements relative to the Net Book Value of this asset subsystem. The Net Book Value for Year 2004 is $14,820,283 and for Year 2005 is $14,514,710. In addition, and based upon the methodologies described above, you will find information in Exhibit I about asset quantity, historic values, annual depreciation and accumulated depreciation.

Valuations of Pre-1980 Infrastructure Assets: The development was originally constructed in phases over a ten year time period between 1968 and 1978.

Year

Qty

(Mi)

Current

Replacement

Cost

Original

Estimated

Cost

Annual

Depreciation

Accumulated

Depreciation

(thru 6/30)

Current

Net

Value

2004 7.8 57,336,188$ 22,917,964$ 305,573$ 8,097,681$ 14,820,283$

2005 7.8 57,336,188$ 22,917,964$ 305,573$ 8,403,253$ 14,514,710$



STORM DRAIN NETWORK

Subsystem: Pipes

Reporting Level

Subsystem, for storm drain pipes. Useful Life of Asset

100 years for pipes Inventory/Valuation Data Sources

The City’s GIS (Geographic Information System) was used as the basic source of information for determining the types, sizes and quantities of storm drain pipes. In order to estimate the amount of pipes constructed by year, the total amount of pipes was multiplied by the percentage of population growth for each year. Population growth figures were obtained from the State of California.


Current replacement costs and useful life were recommended by the Harris Design Group and accepted by the City. The replacement value of pipes was indexed (see ENR Construction Cost Index) back to the year (or estimated year) of construction to arrive at estimated historical cost and then depreciated based upon age to arrive at current Net Book Value.

Net Book Value

The figures below provide all the essential information needed for the City's Comprehensive Annual Financial Report (CAFR) and associated financial statements relative to the Net Book Value of this asset subsystem. The Net Book Value for Year 2004 is $29,291,671 and for Year 2005 is $28,962,921. In addition, and based upon the methodologies described above, you will find information in Exhibit J about asset quantity, historic values, annual depreciation and accumulated depreciation.

Valuations of Pre-1980 Infrastructure Assets: Storm Drain pipes were valued back to 1980.

Year

Current

Replacement

Cost

Original

Estimated

Cost

Annual

Depreciation

Accumulated

Depreciation

(thru 6/30)

Current

Net

Value

2004 46,465,815$ 32,874,980$ 328,750$ 3,583,309$ 29,291,671$

2005 46,465,815$ 32,874,980$ 328,750$ 3,912,059$ 28,962,921$



STORM DRAIN NETWORK

Subsystem: Catch Basins

Reporting Level

Subsystem, for catch basins Useful Life of Asset

50 years for catch basins Inventory/Valuation Data Sources

The City’s GIS (Geographic Information System) was used as the basic source of information for determining the quantities of catch basins. In order to estimate the amount of catch basins constructed by year, the total amount of catch basins was multiplied by the percentage of population growth for each year. Population growth figures were obtained from the State of California.


Current replacement costs were estimated to be $5,000 for each catch basin. The replacement value of catch basins was indexed (see ENR Construction Cost Index) back to the year (or estimated year) of construction to arrive at estimated historical cost and then depreciated based upon age to arrive at current Net Book Value

Net Book Value

The figures below provide all the essential information needed for the City's Comprehensive Annual Financial Report (CAFR) and associated financial statements relative to the Net Book Value of this asset subsystem. The Net Book Value for Year 2004 is $4,359,917 and for Year 2005 is $4,248,410. In addition, and based upon the methodologies described above, you will find information in Exhibit K about asset quantity, historic values, annual depreciation and accumulated depreciation.

Valuations of Pre-1980 Infrastructure Assets: Catch basins were valued back to 1980.

Year

Current

Replacement

Cost

Original

Estimated

Cost

Annual

Depreciation

Accumulated

Depreciation

(thru 6/30)

Current

Net

Value

2004 7,880,202$ 5,575,313$ 111,506$ 1,215,397$ 4,359,917$

2005 7,880,202$ 5,575,313$ 111,506$ 1,326,903$ 4,248,410$



RIGHTS-OF-WAY LAND NETWORK

Subsystem: N/A

Reporting Level

Subsystem, for land within public rights-of-way within the City

Useful Life of Asset

Not applicable. In accordance with GASB 34, Rights-of-Way (Land) are not depreciated. It is a permanent asset that has an inexhaustible useful life. Inventory/Valuation Data Sources The City’s Pavement Management System was used to develop the quantities of rights-of-way. Acquisition dates were determined by the construction date for each street, as shown in the Pavement Management System. Methodologies Used to Determine Historical Cost, Acquisition Dates, and Values:

Land within Rights-of-Way is listed in Exhibit L. Based on the city owned properties/land valuation, an average cost of $600,000 per acre was calculated for rights-of-way. Unit costs were indexed back at 2% per year to determine estimated historical cost. Actual historical cost for all City-owned rights-of-way has been reflected without depreciation, in accordance with the provisions of GASB 34.

Net Book Value

The figures below provide all the essential information needed for the City's Comprehensive Annual Financial Report (CAFR) and associated financial statements relative to the Net Book Value of this asset subsystem. The Net Book Value is $951,652,515.

Valuations of Pre-1980 Infrastructure Assets: Rights-of-way information was available pre-1980; as early as 1920, therefore all rights-of-way were valued.

Total

Area

(Acres)

Current

Replacement

Cost

Original

Estimated

Cost

Current

Net

Value

2,491 N/A 951,652,515$ 951,652,515$



PROCEDURES FOR CAPTURING FUTURE GASB 34 INFORMATION

Exhibit M provides an essentially generic form and accompanying “administrative instruction,” which should be helpful in capturing critical data for reporting of infrastructure assets in the future. This form is proposed to be used by the various City departments and divisions when assets are acquired, constructed or placed into service (and when assets are disposed of or removed/demolished). We have not included in the instructions which City staff members in the organization would complete the matrix, since that is a more internal operational decision. The “instruction” includes when this information should be collected and returned to the Administrative Services Department. Below are some suggestions on timing and other important considerations.

♦ These forms should be completed throughout the fiscal year as asset acquisition and dispositions are completed, and not be left for completion at the end of the fiscal year.

♦ Information should be collected for both City projects (CIP projects and the like) as well as developer-built and dedicated/donated infrastructure improvements, whether it is parks, streets, etc.

♦ If infrastructure improvements are disposed of, eliminated or removed, their value should be deducted from asset value. If such improvements have to be removed or eliminated as a function of constructing new improvements, the value of the portion removed should be deducted, and the value of the improvements constructed should be added to asset value.

♦ The most critical pieces of information are the quantities, acquisition dates and costs. Once these forms are completed and submitted to the Administrative Services Department, they should be compiled, categorized into the appropriate subsystems, and totaled. This information can then be entered in the appropriate Asset Module (spreadsheet) for the fiscal year. Once entered, the Asset Module will electronically perform the calculations to update the annual depreciation, accumulated depreciation and Net Book Value.

♦ Quantity information can be obtained from as-built drawings, and should be done upon receipt of as-built. Cost data may be obtained through unit costs, developer information, final invoice data, Council-accepted project totals (in progress work is not counted; improvements must be complete) or other means.

♦ In using the Basic Approach (depreciation), there should be a distinction made between routine maintenance costs, which are not reported per GASB 34 vs. replacement, improvement and preservation costs, which should be reported per GASB 34. “Preservation” costs, as the GASB 34 Implementation Guide defines them, are those cost outlays that extend the useful life (assuming normal routine maintenance) of an asset beyond its original estimated useful life. Also, if the capacity or efficiency of an asset has been increased by a cost outlay (such as a road widening or weight capacity), the costs associated with such improvements should be reported.

♦ Where appropriate, certain ancillary project costs should also be captured for reporting purposes. These can include design, construction management, fees, transportation and administrative overhead charges.

The City may wish to include all or part of this information in their “instruction” to staff members to assist them in completing the form. Hopefully, this will be helpful to the City. Certainly, the City can modify and/or fine-tune the system/form for maximum use and benefit.



PROCEDURES FOR UPDATING THE ASSET MODULES

The asset module (spreadsheet) is where all of the detailed information regarding current and historical costs as well as net book value. These spreadsheets need to be updated with all of the current construction information to be able to report the GASB 34 information in future years. While all of the spreadsheets differ slightly in format due to the diversity of the assets being reported the general updates for each of the spreadsheets is relatively similar.

First, gather all of the information for new construction and removals since the last update using the Infrastructure Inventory Valuation Form and Administrative Instructions provided in Exhibit M or another method. Updating the ENR Cost Index is not required since the City will be reporting actual costs from now on.

First you should delete all of the items that have been taken out of service or removed since the last update. All of the removals should be given in the correct “unit”, for example the total amount of pavement removed should be in square feet. If you are estimating which items were taken out of service delete the items with the least remaining useful life. If you know the exact item or original year of construction of the item, delete the correct items or items from the correct year of construction. Once you identify the correct item to be removed you should do a quick hand calculation to determine the total original cost of the item to be removed. The total quantity of the item being removed should be subtracted out of the quantity column and the original cost of the item being removed should be subtracted out of the total original cost. Once all of the removals are complete all of the new construction can be added in. To do this, first adjust the current year and the current unit price. Doing this will update the current replacement value, accumulated depreciation, and net book value. To add in the additional work copy the last row into the row below. You will also need to modify the original unit cost lookup formulas to include the newest construction cost indices that were entered for the current year. Generally whenever there is a lookup formula it will need to be updated. Adding one more cell to the lookup formula can usually do this. Refer to the example below.

Previous Years Formula

=LOOKUP(A32,ExhibitW1!$A$4:$A$100,ExhibitW1!$F$4:$F$100)

Modified to be the Current Years Formula

=LOOKUP(A32,ExhibitW1!$A$4:$A$101,ExhibitW1!$F$4:$F$101)

Once all these formulas are updated the GASB 34 Asset Modules should be updated.

APPENDIX (Exhibits A through M)

City of Oxnard

GASB-34 Valuations3/3/2006

Exhibit A - ENR ( Engineering News Record )

YEAR

ANNUAL

AVG

Increase /

Decrease Factor

Unit

1908 97 0.00% 100.00% 6901.03%

1909 91 -6.19% 100.00% 6901.03%

1910 96 5.49% 93.81% 6901.03%

1911 93 -3.13% 105.49% 7356.04%

1912 91 -2.15% 96.88% 6972.92%

1913 100 9.89% 97.85% 7197.85%

1914 89 -11.00% 109.89% 7356.04%

1915 93 4.49% 89.00% 6694.00%

1916 130 39.78% 104.49% 7521.35%

1917 181 39.23% 139.78% 7197.85%

1918 189 4.42% 139.23% 5149.23%

1919 198 4.76% 104.42% 3698.34%

1920 251 26.77% 104.76% 3541.80%

1921 202 -19.52% 126.77% 3380.81%

1922 174 -13.86% 80.48% 2666.93%

1923 214 22.99% 86.14% 3313.86%

1924 215 0.47% 122.99% 3847.13%

1925 207 -3.72% 100.47% 3128.04%

1926 208 0.48% 96.28% 3113.49%

1927 206 -0.96% 100.48% 3233.82%

1928 207 0.49% 99.04% 3218.27%

1929 207 0.00% 100.49% 3249.51%

1930 203 -1.93% 100.00% 3233.82%

1931 181 -10.84% 98.07% 3233.82%

1932 157 -13.26% 89.16% 3297.54%

1933 170 8.28% 86.74% 3698.34%

1934 198 16.47% 108.28% 4263.69%

1935 196 -1.01% 116.47% 3937.65%

1936 206 5.10% 98.99% 3380.81%

1937 235 14.08% 105.10% 3415.31%

1938 236 0.43% 114.08% 3249.51%

1939 236 0.00% 100.43% 2848.51%

1940 242 2.54% 100.00% 2836.44%

1941 258 6.61% 102.54% 2836.44%

1942 276 6.98% 106.61% 2766.12%

1943 290 5.07% 106.98% 2594.57%

1944 299 3.10% 105.07% 2425.36%

1945 308 3.01% 103.10% 2308.28%

1946 346 12.34% 103.01% 2238.80%

1947 413 19.36% 112.34% 2173.38%

1948 461 11.62% 119.36% 1934.68%

1949 477 3.47% 111.62% 1620.82%

1950 510 6.92% 103.47% 1452.06%

1951 543 6.47% 106.92% 1403.35%

1952 569 4.79% 106.47% 1312.55%

1953 600 5.45% 104.79% 1232.78%

1954 628 4.67% 105.45% 1176.45%

1955 660 5.10% 104.67% 1115.67%

1956 692 4.85% 105.10% 1065.92%

1957 724 4.62% 104.85% 1014.24%

1958 759 4.83% 104.62% 967.34%

Page 1 of 2 Exhibit A

City of Oxnard


YEAR

ANNUAL

AVG

Increase /

Decrease Factor

1959 797 5.01% 104.83% 924.59%

1960 824 3.39% 105.01% 881.95%

1961 847 2.79% 103.39% 839.90%

1962 872 2.95% 102.79% 812.38%

1963 901 3.33% 102.95% 790.32%

1964 936 3.88% 103.33% 767.66%

1965 971 3.74% 103.88% 742.95%

1966 1019 4.94% 103.74% 715.17%

1967 1074 5.40% 104.94% 689.39%

1968 1155 7.54% 105.40% 656.92%

1969 1269 9.87% 107.54% 623.28%

1970 1381 8.83% 109.87% 579.57%

1971 1581 14.48% 108.83% 527.50%

1972 1753 10.88% 114.48% 484.72%

1973 1895 8.10% 110.88% 423.40%

1974 2020 6.60% 108.10% 381.86%

1975 2212 9.50% 106.60% 353.25%

1976 2401 8.54% 109.50% 331.39%

1977 2576 7.29% 108.54% 302.62%

1978 2776 7.76% 107.29% 278.80%

1979 3003 8.18% 107.76% 259.86%

1980 3237 7.79% 108.18% 241.14%

1981 3535 9.21% 107.79% 222.91%

1982 3825 8.20% 109.21% 206.80%

1983 4066 6.30% 108.20% 189.36%

1984 4146 1.97% 106.30% 175.01%

1985 4195 1.18% 101.97% 164.63%

1986 4295 2.38% 101.18% 161.46%

1987 4406 2.58% 102.38% 159.57%

1988 4519 2.56% 102.58% 155.86%

1989 4615 2.12% 102.56% 151.93%

1990 4732 2.54% 102.12% 148.13%

1991 4835 2.18% 102.54% 145.05%

1992 4985 3.10% 102.18% 141.46%

1993 5210 4.51% 103.10% 138.45%

1994 5408 3.80% 104.51% 134.28%

1995 5471 1.16% 103.80% 128.48%

1996 5620 2.72% 101.16% 123.78%

1997 5826 3.67% 102.72% 122.35%

1998 5920 1.61% 103.67% 119.11%

1999 6060 2.36% 101.61% 114.90%

2000 6221 2.66% 102.36% 113.07%

2001 6342 1.95% 102.66% 110.46%

2002 6538 3.09% 101.95% 107.60%

2003 6694 2.39% 103.09% 105.55%

2004 6945 3.75% 102.39% 102.39%

Page 2 of 2 Exhibit A

Exhibit B

City of Oxnard GASB-34 Valuations

3/3/2006

Summary of Asset Values - Year 2004

Network Subsystem

Current Replacement

Cost

Original Estimated

Cost

Current Net Value

(thru 6/30/2004)Roadway/Streets

Pavement 635,259,242$ 291,654,961$ 150,073,867$ Curb & Gutter 60,096,075$ 26,402,997$ 22,094,475$ Sidewalk 51,707,475$ 24,873,240$ 21,068,023$ Ribbon Gutter 10,737,408$ 1,958,089$ 1,313,858$ Traffic Signals 30,250,000$ 14,467,963$ 6,309,983$ Bridges 28,718,230$ 19,083,460$ 16,125,524$

Sub-total 816,768,430$ 378,440,710$ 216,985,730$

Waterways/Seawalls 57,336,188$ 22,917,964$ 14,820,283$ Sub-total 57,336,188$ 22,917,964$ 14,820,283$

Storm Drain System Pipes 46,465,815$ 32,874,980$ 29,291,671$ Catch Basins 7,880,202$ 5,575,313$ 4,359,917$

Sub-total 54,346,017$ 38,450,294$ 33,651,588$

Land Network Rights-of-Way N/A 951,652,515$ 951,652,515$

Sub-total N/A 951,652,515$ 951,652,515$

Grand Total $928,450,635 1,391,461,483$ 1,217,110,116$

see Exhibit B1 for composite average

see Exhibit B2 for composite average

Page 1 of 2 Exhibit B

Exhibit B

City of Oxnard GASB-34 Valuations

3/3/2006

Summary of Asset Values - Year 2005

Network Subsystem

Current Replacement

Cost

Original Estimated

Cost

Current Net Value

(thru 6/30/2005)Roadway/Streets

Pavement 635,259,242$ 291,654,961$ 140,363,569$ Curb & Gutter 60,096,075$ 26,402,997$ 21,830,445$ Sidewalk 51,707,475$ 24,873,240$ 20,819,291$ Ribbon Gutter 10,737,408$ 1,958,089$ 1,294,277$ Traffic Signals 30,250,000$ 14,467,963$ 5,731,265$ Bridges 28,718,230$ 19,083,460$ 15,934,689$

Sub-total 816,768,430$ 378,440,710$ 205,973,535$

Waterways/Seawalls 57,336,188$ 22,917,964$ 14,514,710$ Sub-total 57,336,188$ 22,917,964$ 14,514,710$

Storm Drain System Pipes 46,465,815$ 32,874,980$ 28,962,921$ Catch Basins 7,880,202$ 5,575,313$ 4,248,410$

Sub-total 54,346,017$ 38,450,294$ 33,211,332$

Land Network Rights-of-Way N/A 951,652,515$ 951,652,515$

Sub-total N/A 951,652,515$ 951,652,515$

Grand Total 928,450,635$ 1,391,461,483$ 1,205,352,092$

Page 2 of 2 Exhibit B

City of OxnardGASB-34 Valuations

3/3/2006

Exhibit B1 Roadway Network CompositeYear - 2004

Year Age

Current Replacement

Cost

Original Estimated

CostAnnual

Depreciation

Accumulated Depreciation

(thru 6/30/2004)

Current Net

Value1920 84 $ 95,816 $ 3,463 $ 96 3,463$ $ - 1921 83 $ 2,586,607 $ 75,233 $ 2,082 75,233$ $ - 1922 82 $ - $ - $ - -$ $ - 1923 81 $ - $ - $ - -$ $ - 1924 80 $ - $ - $ - -$ $ - 1925 79 $ - $ - $ - -$ $ - 1926 78 $ - $ - $ - -$ $ - 1927 77 $ - $ - $ - -$ $ - 1928 76 $ - $ - $ - -$ $ - 1929 75 $ - $ - $ - -$ $ - 1930 74 $ 1,437,750 $ 42,025 $ 1,163 42,025$ $ - 1931 73 $ 1,164,049 $ 30,337 $ 839 30,337$ $ - 1932 72 $ - $ - $ - -$ $ - 1933 71 $ - $ - $ - -$ $ - 1934 70 $ - $ - $ - -$ $ - 1935 69 $ 369,044 $ 10,415 $ 288 10,415$ $ - 1936 68 $ - $ - $ - -$ $ - 1937 67 $ - $ - $ - -$ $ - 1938 66 $ 294,989 $ 10,024 $ 277 10,024$ $ - 1939 65 $ 39,585 $ 1,345 $ 37 1,345$ $ - 1940 64 $ 1,875,197 $ 65,342 $ 1,808 65,342$ $ - 1941 63 $ 295,207 $ 10,967 $ 303 10,967$ $ - 1942 62 $ 1,763,892 $ 70,099 $ 1,939 70,099$ $ - 1943 61 $ - $ - $ - -$ $ - 1944 60 $ 1,268,419 $ 54,609 $ 1,511 54,609$ $ - 1945 59 $ 1,985,472 $ 88,053 $ 2,436 88,053$ $ - 1946 58 $ 602,504 $ 30,017 $ 831 30,017$ $ - 1947 57 $ 174,850 $ 10,398 $ 288 10,398$ $ - 1948 56 $ 3,096,656 $ 205,552 $ 5,687 205,552$ $ - 1949 55 $ 4,472,583 $ 307,188 $ 8,499 307,188$ $ - 1950 54 $ 5,984,383 $ 439,458 $ 12,159 439,458$ $ - 1951 53 $ 8,011,362 $ 626,374 $ 17,331 626,374$ $ - 1952 52 $ 1,160,693 $ 95,095 $ 2,631 95,095$ $ - 1953 51 $ 192,647 $ 16,643 $ 460 16,643$ $ - 1954 50 $ 7,510,896 $ 679,171 $ 18,791 679,171$ $ - 1955 49 $ 15,890,209 $ 1,510,085 $ 41,781 1,510,085$ $ - 1956 48 $ 2,343,579 $ 233,514 $ 6,461 233,514$ $ - 1957 47 $ 7,555,643 $ 787,658 $ 21,793 787,658$ $ - 1958 46 $ 3,863,969 $ 422,283 $ 11,684 422,283$ $ - 1959 45 $ 14,528,431 $ 1,667,266 $ 46,130 1,667,266$ $ - 1960 44 $ 10,364,905 $ 1,229,760 $ 34,025 1,229,760$ $ - 1961 43 $ 8,134,096 $ 992,020 $ 27,447 992,020$ $ - 1962 42 $ 16,253,431 $ 2,040,748 $ 56,464 2,040,748$ $ - 1963 41 $ 5,873,526 $ 761,994 $ 21,083 761,994$ $ - 1964 40 $ 12,894,458 $ 1,737,828 $ 48,083 1,737,828$ $ - 1965 39 $ 7,016,621 $ 981,014 $ 27,143 981,014$ $ -

Page 1 of 2 Roadway Network Composite


3/3/2006

Year Age

Current Replacement

Cost

Original Estimated

CostAnnual

Depreciation


(thru 6/30/2004)

Current Net

Value1966 38 $ 7,779,859 $ 1,141,494 $ 31,583 1,141,494$ $ - 1967 37 $ 2,636,686 $ 407,747 $ 11,282 407,747$ $ - 1968 36 $ 8,778,962 $ 1,460,000 $ 40,396 1,460,000$ $ - 1969 35 $ 11,227,026 $ 2,051,418 $ 56,759 2,014,944$ $ 36,473 1970 34 $ 132,256,900 $ 26,299,032 $ 727,646 25,103,801$ $ 1,195,231 1971 33 $ 23,348,324 $ 5,315,148 $ 147,060 4,926,526$ $ 388,622 1972 32 $ 2,563,022 $ 646,937 $ 17,900 581,736$ $ 65,201 1973 31 $ 10,932,076 $ 2,982,906 $ 82,532 2,599,745$ $ 383,161 1974 30 $ 10,869,079 $ 3,161,345 $ 87,469 2,667,794$ $ 493,551 1975 29 $ 14,619,290 $ 4,656,281 $ 128,831 3,800,509$ $ 855,771 1976 28 $ 7,362,684 $ 2,545,400 $ 70,427 2,007,158$ $ 538,242 1977 27 $ 13,056,168 $ 4,842,720 $ 133,989 3,684,704$ $ 1,158,015 1978 26 $ 5,287,386 $ 2,113,432 $ 58,475 1,549,583$ $ 563,849 1979 25 $ 6,379,046 $ 2,758,283 $ 76,317 1,946,075$ $ 812,208 1980 24 $ 22,790,588 $ 10,622,481 $ 293,905 7,200,666$ $ 3,421,815 1981 23 $ 4,954,765 $ 2,521,972 $ 69,778 1,639,792$ $ 882,180 1982 22 $ 7,070,477 $ 3,894,107 $ 107,743 2,424,215$ $ 1,469,893 1983 21 $ 4,013,224 $ 2,349,570 $ 65,008 1,397,679$ $ 951,891 1984 20 $ 3,390,010 $ 2,023,755 $ 55,994 1,147,869$ $ 875,886 1985 19 $ 8,255,789 $ 4,986,758 $ 137,975 2,690,503$ $ 2,296,255 1986 18 $ 26,755,234 $ 16,546,253 $ 457,805 8,469,388$ $ 8,076,865 1987 17 $ 15,399,048 $ 9,769,360 $ 270,300 4,730,258$ $ 5,039,103 1988 16 $ 16,050,993 $ 10,444,123 $ 288,970 4,768,003$ $ 5,676,120 1989 15 $ 46,346,197 $ 30,797,365 $ 852,107 13,207,660$ $ 17,589,705 1990 14 $ 18,867,481 $ 12,855,424 $ 355,686 5,157,450$ $ 7,697,974 1991 13 $ 11,191,568 $ 7,791,394 $ 215,574 2,910,245$ $ 4,881,149 1992 12 $ 22,659,711 $ 16,264,746 $ 450,016 5,625,199$ $ 10,639,547 1993 11 $ 22,112,471 $ 16,588,333 $ 458,969 5,278,144$ $ 11,310,189 1994 10 $ 4,276,629 $ 3,330,167 $ 92,140 967,466$ $ 2,362,700 1995 9 $ 46,452,404 $ 36,593,391 $ 1,012,473 9,618,490$ $ 26,974,901 1996 8 $ 32,923,947 $ 26,642,561 $ 737,151 6,265,785$ $ 20,376,775 1997 7 $ 13,573,603 $ 11,384,628 $ 314,992 2,362,440$ $ 9,022,188 1998 6 $ 2,014,403 $ 1,717,101 $ 47,509 308,809$ $ 1,408,292 1999 5 $ 14,016,231 $ 12,230,145 $ 338,386 1,861,122$ $ 10,369,023 2000 4 $ 9,602,701 $ 8,601,642 $ 237,992 1,070,963$ $ 7,530,679 2001 3 $ 13,041,399 $ 11,909,079 $ 329,503 1,153,259$ $ 10,755,820 2002 2 $ 12,420,124 $ 11,692,264 $ 323,504 808,759$ $ 10,883,505 2003 1 $ 31,141,462 $ 30,015,975 $ 830,487 1,245,731$ $ 28,770,244 2004 0 $ 1,250,000 $ 1,250,000 $ 34,585 17,293$ $ 1,232,707

816,768,430$ 378,440,710$ 10,470,766$ 161,454,980$ 216,985,730$

Page 2 of 2 Roadway Network Composite


3/3/2006Exhibit B2 Storm Drain Network CompositeYear - 2004

Year Age

Current Replacement

Cost

Original Estimated

CostAnnual

Depreciation


(thru 6/30/2004)Current Net

Value1980 24 2,636,689$ 1,093,434$ 12,520$ 306,736$ 786,698$ 1981 23 3,537,022$ 1,586,746$ 18,168$ 426,954$ 1,159,792$ 1982 22 2,315,141$ 1,119,527$ 12,819$ 288,418$ 831,109$ 1983 21 4,758,902$ 2,513,104$ 28,775$ 618,664$ 1,894,440$ 1984 20 1,286,190$ 734,938$ 8,415$ 172,508$ 562,430$ 1985 19 1,414,809$ 859,368$ 9,840$ 191,876$ 667,493$ 1986 18 1,479,118$ 916,108$ 10,489$ 194,055$ 722,053$ 1987 17 1,414,809$ 886,633$ 10,152$ 177,659$ 708,974$ 1988 16 1,929,285$ 1,237,866$ 14,174$ 233,864$ 1,004,002$ 1989 15 2,122,213$ 1,396,844$ 15,994$ 247,905$ 1,148,939$ 1990 14 3,125,441$ 2,109,929$ 24,159$ 350,301$ 1,759,628$ 1991 13 861,747$ 594,109$ 6,803$ 91,834$ 502,274$ 1992 12 2,379,451$ 1,682,038$ 19,259$ 240,742$ 1,441,296$ 1993 11 1,736,356$ 1,254,150$ 14,360$ 165,140$ 1,089,010$ 1994 10 1,993,594$ 1,484,623$ 16,999$ 178,489$ 1,306,134$ 1995 9 1,479,118$ 1,151,211$ 13,181$ 125,223$ 1,025,988$ 1996 8 1,157,571$ 935,187$ 10,708$ 91,017$ 844,170$ 1997 7 1,479,118$ 1,208,882$ 13,842$ 103,813$ 1,105,069$ 1998 6 2,057,904$ 1,727,729$ 19,783$ 128,586$ 1,599,143$ 1999 5 1,993,594$ 1,734,790$ 19,863$ 109,248$ 1,625,542$ 2000 4 2,738,298$ 2,421,680$ 27,728$ 124,777$ 2,296,903$ 2001 3 3,047,627$ 2,758,981$ 31,590$ 110,566$ 2,648,414$ 2002 2 2,816,755$ 2,618,143$ 29,978$ 74,944$ 2,543,199$ 2003 1 1,848,898$ 1,751,675$ 20,057$ 30,085$ 1,721,589$ 2004 0 2,736,369$ 2,672,599$ 30,601$ 15,301$ 2,657,298$

54,346,017$ 38,450,294$ 440,256$ 4,798,706$ 33,651,588$

Page 1 of 1 Storm Drain Network Composite


3/3/2006

Exhibit C - AC PavementYear - 2004

Total Area (SF) Year Age

Current Replacement

Cost

Original Estimated

CostAnnual

Depreciation


(thru 6/30/2004)

Current Net

Value9,440 1920 84 $ 68,912 $ 2,491 $ 83 2,491$ $ -

240,050 1921 83 $ 1,752,365 $ 50,969 $ 1,699 50,969$ $ - 130,335 1930 74 $ 951,446 $ 27,810 $ 927 27,810$ $ - 80,910 1931 73 $ 590,643 $ 15,393 $ 513 15,393$ $ - 42,280 1935 69 $ 308,644 $ 8,710 $ 290 8,710$ $ - 30,126 1938 66 $ 219,920 $ 7,473 $ 249 7,473$ $ - 3,900 1939 65 $ 28,470 $ 967 $ 32 967$ $ -

123,445 1940 64 $ 901,149 $ 31,401 $ 1,047 31,401$ $ - 30,380 1941 63 $ 221,774 $ 8,239 $ 275 8,239$ $ -

184,419 1942 62 $ 1,346,259 $ 53,501 $ 1,783 53,501$ $ - 91,060 1944 60 $ 664,738 $ 28,619 $ 954 28,619$ $ -

177,494 1945 59 $ 1,295,706 $ 57,463 $ 1,915 57,463$ $ - 59,360 1946 58 $ 433,328 $ 21,588 $ 720 21,588$ $ - 19,500 1947 57 $ 142,350 $ 8,465 $ 282 8,465$ $ -

280,640 1948 56 $ 2,048,672 $ 135,988 $ 4,533 135,988$ $ - 509,857 1949 55 $ 3,721,956 $ 255,633 $ 8,521 255,633$ $ - 652,979 1950 54 $ 4,766,747 $ 350,042 $ 11,668 350,042$ $ - 782,220 1951 53 $ 5,710,206 $ 446,457 $ 14,882 446,457$ $ - 122,492 1952 52 $ 894,192 $ 73,261 $ 2,442 73,261$ $ - 18,980 1953 51 $ 138,554 $ 11,970 $ 399 11,970$ $ -

801,595 1954 50 $ 5,851,644 $ 529,133 $ 17,638 529,133$ $ - 1,723,135 1955 49 $ 12,578,886 $ 1,195,402 $ 39,847 1,195,402$ $ -

233,320 1956 48 $ 1,703,236 $ 169,710 $ 5,657 169,710$ $ - 831,948 1957 47 $ 6,073,220 $ 633,119 $ 21,104 633,119$ $ - 382,060 1958 46 $ 2,789,038 $ 304,806 $ 10,160 304,806$ $ -

1,635,120 1959 45 $ 11,936,376 $ 1,369,804 $ 45,660 1,369,804$ $ - 1,141,269 1960 44 $ 8,331,264 $ 988,475 $ 32,949 988,475$ $ -

830,880 1961 43 $ 6,065,424 $ 739,728 $ 24,658 739,728$ $ - 1,833,382 1962 42 $ 13,383,689 $ 1,680,429 $ 56,014 1,680,429$ $ -

642,226 1963 41 $ 4,688,250 $ 608,224 $ 20,274 608,224$ $ - 1,369,881 1964 40 $ 10,000,131 $ 1,347,750 $ 44,925 1,347,750$ $ -

678,676 1965 39 $ 4,954,335 $ 692,679 $ 23,089 692,679$ $ - 708,456 1966 38 $ 5,171,729 $ 758,818 $ 25,294 758,818$ $ - 246,731 1967 37 $ 1,801,136 $ 278,534 $ 9,284 278,534$ $ - 826,418 1968 36 $ 6,032,851 $ 1,003,304 $ 33,443 1,003,304$ $ -

1,155,870 1969 35 $ 8,437,851 $ 1,541,776 $ 51,393 1,541,776$ $ - 15,153,008 1970 34 $ 110,616,958 $ 21,995,971 $ 733,199 21,995,971$ $ - 2,586,344 1971 33 $ 18,880,311 $ 4,298,023 $ 143,267 4,298,023$ $ -

179,849 1972 32 $ 1,312,898 $ 331,391 $ 11,046 331,391$ $ - 1,226,572 1973 31 $ 8,953,976 $ 2,443,165 $ 81,439 2,443,165$ $ - 1,246,189 1974 30 $ 9,097,180 $ 2,645,976 $ 88,199 2,645,976$ $ - 1,525,236 1975 29 $ 11,134,223 $ 3,546,278 $ 118,209 3,487,173$ $ 59,105

843,445 1976 28 $ 6,157,149 $ 2,128,627 $ 70,954 2,022,196$ $ 106,431 1,498,135 1977 27 $ 10,936,386 $ 4,056,462 $ 135,215 3,718,424$ $ 338,039

578,443 1978 26 $ 4,222,634 $ 1,687,838 $ 56,261 1,490,923$ $ 196,914 606,523 1979 25 $ 4,427,618 $ 1,914,491 $ 63,816 1,627,317$ $ 287,174

Page 1 of 3 Exhibit C


3/3/2006


Current Replacement

Cost

Original Estimated

CostAnnual

Depreciation


(thru 6/30/2004)

Current Net

Value2,389,009 1980 24 $ 17,439,766 $ 8,128,513 $ 270,950 6,638,285$ $ 1,490,227

567,334 1981 23 $ 4,141,538 $ 2,108,040 $ 70,268 1,651,298$ $ 456,742 793,038 1982 22 $ 5,789,177 $ 3,188,424 $ 106,281 2,391,318$ $ 797,106 377,195 1983 21 $ 2,753,524 $ 1,612,070 $ 53,736 1,155,317$ $ 456,753 371,935 1984 20 $ 2,715,126 $ 1,620,865 $ 54,029 1,107,591$ $ 513,274 897,478 1985 19 $ 6,551,589 $ 3,957,368 $ 131,912 2,572,289$ $ 1,385,079

2,923,156 1986 18 $ 21,339,039 $ 13,196,713 $ 439,890 8,137,973$ $ 5,058,740 1,749,824 1987 17 $ 12,773,715 $ 8,103,814 $ 270,127 4,727,225$ $ 3,376,589 1,507,039 1988 16 $ 11,001,385 $ 7,158,424 $ 238,614 3,937,133$ $ 3,221,291 1,952,296 1989 15 $ 14,251,761 $ 9,470,393 $ 315,680 4,893,036$ $ 4,577,356 2,086,559 1990 14 $ 15,231,881 $ 10,378,295 $ 345,943 5,016,176$ $ 5,362,119 1,041,871 1991 13 $ 7,605,658 $ 5,294,940 $ 176,498 2,382,723$ $ 2,912,217 2,632,344 1992 12 $ 19,216,111 $ 13,792,990 $ 459,766 5,747,079$ $ 8,045,911 2,580,496 1993 11 $ 18,837,621 $ 14,131,606 $ 471,054 5,417,116$ $ 8,714,490

431,865 1994 10 $ 3,152,615 $ 2,454,908 $ 81,830 859,218$ $ 1,595,690 5,412,980 1995 9 $ 39,514,754 $ 31,128,181 $ 1,037,606 9,857,257$ $ 21,270,924 3,823,527 1996 8 $ 27,911,747 $ 22,586,612 $ 752,887 6,399,540$ $ 16,187,072 1,585,147 1997 7 $ 11,571,573 $ 9,705,459 $ 323,515 2,426,365$ $ 7,279,094

147,199 1998 6 $ 1,074,553 $ 915,961 $ 30,532 198,458$ $ 717,503 1,657,970 1999 5 $ 12,103,181 $ 10,560,875 $ 352,029 1,936,160$ $ 8,624,715 1,050,370 2000 4 $ 7,667,701 $ 6,868,361 $ 228,945 1,030,254$ $ 5,838,107 1,456,219 2001 3 $ 10,630,399 $ 9,707,414 $ 323,580 1,132,532$ $ 8,574,882 1,385,654 2002 2 $ 10,115,274 $ 9,522,486 $ 317,416 793,540$ $ 8,728,945 3,511,977 2003 1 $ 25,637,432 $ 24,710,867 $ 823,696 1,235,543$ $ 23,475,324

86,407,060 630,771,538$ 290,789,934$ 9,692,998$ 141,142,120$ 149,647,813$ 614,754 PCC 4,487,704$ 865,028$ 17,301$ 438,974$ 426,054$

87,021,814 TOTAL 635,259,242$ 291,654,961$ 9,710,298$ 141,581,094$ 150,073,867$

Year - 2005Current

Replacement Cost

Original Estimated

CostAnnual

Depreciation


(thru 6/30/2005)

Current Net

Value630,771,538$ 290,789,934$ 9,692,998$ 150,835,118$ 139,954,816$

PCC 4,487,704$ 865,028$ 17,301$ 456,275$ 408,753$ TOTAL 635,259,242$ 291,654,961$ 9,710,298$ 151,291,393$ 140,363,569$



3/3/2006Exhibit C - PCC PavementYear - 2004


Current Replacement

Cost

Original Estimated

CostAnnual

Depreciation


(thru 6/30/2004)

Current Net

Value31,200 1921 83 $ 227,760 $ 6,625 $ 132 6,625$ $ - 21,700 1930 74 $ 158,410 $ 4,630 $ 93 4,630$ $ - 51,500 1931 73 $ 375,950 $ 9,798 $ 196 9,798$ $ - 86,580 1940 64 $ 632,034 $ 22,023 $ 440 22,023$ $ - 51,250 1944 60 $ 374,125 $ 16,107 $ 322 16,107$ $ - 51,480 1945 59 $ 375,804 $ 16,666 $ 333 16,666$ $ - 83,580 1951 53 $ 610,134 $ 47,704 $ 954 47,704$ $ - 2,720 1952 52 $ 19,856 $ 1,627 $ 33 1,627$ $ - 9,250 1956 48 $ 67,525 $ 6,728 $ 135 6,526$ $ 202 6,800 1964 40 $ 49,640 $ 6,690 $ 134 5,419$ $ 1,271

73,370 1970 34 $ 535,601 $ 106,503 $ 2,130 73,487$ $ 33,016 45,360 1979 25 $ 331,128 $ 143,179 $ 2,864 73,021$ $ 70,158 9,024 1987 17 $ 65,875 $ 41,792 $ 836 14,627$ $ 27,165

69,780 1988 16 $ 509,394 $ 331,454 $ 6,629 109,380$ $ 222,075 17,460 1989 15 $ 127,458 $ 84,697 $ 1,694 26,256$ $ 58,441 3,700 1991 13 $ 27,010 $ 18,804 $ 376 5,077$ $ 13,727

614,754 4,487,704$ 865,028$ 17,301$ 438,974$ 426,054$

Year - 2005Current

Replacement Cost

Original Estimated

CostAnnual

Depreciation


(thru 6/30/2005)

Current Net

Value4,487,704$ 865,028$ 17,301$ 456,275$ 408,753$



3/3/2006

Exhibit D - Curb & GutterYear - 2004

Total Length (LF) Year Age

Current Replacement

Cost

Original Estimated

CostAnnual

Depreciation


(thru 6/30/2004)

Current Net

Value472 1920 84 $ 11,800 $ 426 $ 4 360$ $ 66

11,104 1921 83 $ 277,600 $ 8,074 $ 81 6,742$ $ 1,332 5,922 1930 74 $ 148,050 $ 4,327 $ 43 3,224$ $ 1,104 3,703 1931 73 $ 92,575 $ 2,413 $ 24 1,773$ $ 639 1,208 1935 69 $ 30,200 $ 852 $ 9 592$ $ 260 1,317 1938 66 $ 32,925 $ 1,119 $ 11 744$ $ 375

195 1939 65 $ 4,875 $ 166 $ 2 109$ $ 57 6,504 1940 64 $ 162,600 $ 5,666 $ 57 3,654$ $ 2,011 1,319 1941 63 $ 32,975 $ 1,225 $ 12 778$ $ 447 7,566 1942 62 $ 189,150 $ 7,517 $ 75 4,698$ $ 2,819 4,261 1944 60 $ 106,525 $ 4,586 $ 46 2,775$ $ 1,812 5,899 1945 59 $ 147,475 $ 6,540 $ 65 3,891$ $ 2,649 2,968 1946 58 $ 74,200 $ 3,697 $ 37 2,163$ $ 1,534

650 1947 57 $ 16,250 $ 966 $ 10 556$ $ 411 10,097 1948 56 $ 252,425 $ 16,756 $ 168 9,467$ $ 7,289 14,605 1949 55 $ 365,125 $ 25,078 $ 251 13,918$ $ 11,160 23,275 1950 54 $ 581,875 $ 42,729 $ 427 23,288$ $ 19,442 31,616 1951 53 $ 790,400 $ 61,798 $ 618 33,062$ $ 28,736 4,571 1952 52 $ 114,275 $ 9,362 $ 94 4,915$ $ 4,447

949 1953 51 $ 23,725 $ 2,050 $ 20 1,056$ $ 994 26,570 1954 50 $ 664,250 $ 60,065 $ 601 30,333$ $ 29,732 61,433 1955 49 $ 1,535,825 $ 145,953 $ 1,460 72,247$ $ 73,706 10,354 1956 48 $ 258,850 $ 25,792 $ 258 12,509$ $ 13,283 27,613 1957 47 $ 690,325 $ 71,965 $ 720 34,183$ $ 37,782 15,353 1958 46 $ 383,825 $ 41,947 $ 419 19,505$ $ 22,442 49,599 1959 45 $ 1,239,975 $ 142,298 $ 1,423 64,746$ $ 77,552 38,081 1960 44 $ 952,025 $ 112,954 $ 1,130 50,265$ $ 62,690 25,590 1961 43 $ 639,750 $ 78,023 $ 780 33,940$ $ 44,083 56,001 1962 42 $ 1,400,025 $ 175,784 $ 1,758 74,708$ $ 101,076 22,345 1963 41 $ 558,625 $ 72,472 $ 725 30,076$ $ 42,396 40,817 1964 40 $ 1,020,425 $ 137,526 $ 1,375 55,698$ $ 81,828 20,910 1965 39 $ 522,750 $ 73,087 $ 731 28,869$ $ 44,218 21,898 1966 38 $ 547,450 $ 80,324 $ 803 30,925$ $ 49,399 6,711 1967 37 $ 167,775 $ 25,945 $ 259 9,730$ $ 16,216

24,394 1968 36 $ 609,850 $ 101,422 $ 1,014 37,019$ $ 64,403 30,605 1969 35 $ 765,125 $ 139,805 $ 1,398 49,631$ $ 90,174

378,809 1970 34 $ 9,470,225 $ 1,883,136 $ 18,831 649,682$ $ 1,233,454 80,845 1971 33 $ 2,021,125 $ 460,101 $ 4,601 154,134$ $ 305,967 4,984 1972 32 $ 124,600 $ 31,451 $ 315 10,221$ $ 21,229

29,562 1973 31 $ 739,050 $ 201,656 $ 2,017 63,522$ $ 138,134 34,751 1974 30 $ 868,775 $ 252,689 $ 2,527 77,070$ $ 175,619 47,296 1975 29 $ 1,182,400 $ 376,597 $ 3,766 111,096$ $ 265,501 23,648 1976 28 $ 591,200 $ 204,388 $ 2,044 58,250$ $ 146,137 41,734 1977 27 $ 1,043,350 $ 386,993 $ 3,870 106,423$ $ 280,570 16,066 1978 26 $ 401,650 $ 160,544 $ 1,605 42,544$ $ 118,000 17,406 1979 25 $ 435,150 $ 188,158 $ 1,882 47,980$ $ 140,178

Page 1 of 2 Exhibit D


3/3/2006

Total Length (LF) Year Age

Current Replacement

Cost

Original Estimated

CostAnnual

Depreciation


(thru 6/30/2004)

Current Net

Value69,910 1980 24 $ 1,747,750 $ 814,610 $ 8,146 199,579$ $ 615,031 16,144 1981 23 $ 403,600 $ 205,432 $ 2,054 48,277$ $ 157,156 20,626 1982 22 $ 515,650 $ 283,997 $ 2,840 63,899$ $ 220,098 10,194 1983 21 $ 254,850 $ 149,204 $ 1,492 32,079$ $ 117,125 12,663 1984 20 $ 316,575 $ 188,988 $ 1,890 38,742$ $ 150,245 24,084 1985 19 $ 602,100 $ 363,687 $ 3,637 70,919$ $ 292,768 83,165 1986 18 $ 2,079,125 $ 1,285,794 $ 12,858 237,872$ $ 1,047,922 51,141 1987 17 $ 1,278,525 $ 811,113 $ 8,111 141,945$ $ 669,168 45,153 1988 16 $ 1,128,825 $ 734,508 $ 7,345 121,194$ $ 613,314 49,812 1989 15 $ 1,245,300 $ 827,510 $ 8,275 128,264$ $ 699,246 57,712 1990 14 $ 1,442,800 $ 983,057 $ 9,831 142,543$ $ 840,514 26,178 1991 13 $ 654,450 $ 455,618 $ 4,556 61,508$ $ 394,109 63,872 1992 12 $ 1,596,800 $ 1,146,155 $ 11,462 143,269$ $ 1,002,886 65,497 1993 11 $ 1,637,425 $ 1,228,363 $ 12,284 141,262$ $ 1,087,102 12,305 1994 10 $ 307,625 $ 239,544 $ 2,395 25,152$ $ 214,392

133,753 1995 9 $ 3,343,825 $ 2,634,135 $ 26,341 250,243$ $ 2,383,892 95,244 1996 8 $ 2,381,100 $ 1,926,822 $ 19,268 163,780$ $ 1,763,043 39,923 1997 7 $ 998,075 $ 837,118 $ 8,371 62,784$ $ 774,334 3,797 1998 6 $ 94,925 $ 80,915 $ 809 5,259$ $ 75,656

38,261 1999 5 $ 956,525 $ 834,635 $ 8,346 45,905$ $ 788,730 28,700 2000 4 $ 717,500 $ 642,702 $ 6,427 28,922$ $ 613,781 33,220 2001 3 $ 830,500 $ 758,392 $ 7,584 26,544$ $ 731,848 36,097 2002 2 $ 902,425 $ 849,540 $ 8,495 21,238$ $ 828,301 94,816 2003 1 $ 2,370,400 $ 2,284,731 $ 22,847 34,271$ $ 2,250,460

2,403,843 60,096,075$ 26,402,997$ 264,030$ 4,308,522$ 22,094,475$

Year - 2005Current

Replacement Cost

Original Estimated

CostAnnual

Depreciation


(thru 6/30/2005)

Current Net

Value60,096,075$ 26,402,997$ 264,030$ 4,572,552$ 21,830,445$

Page 2 of 2 Exhibit D


3/3/2006

Exhibit E - SidewalksYear - 2004


Current Replacement

Cost

Original Estimated

CostAnnual

Depreciation


(thru 6/30/2004)

Current Net

Value18,890 1921 83 $ 94,450 $ 2,747 $ 27 2,294$ $ 453 6,900 1930 74 $ 34,500 $ 1,008 $ 10 751$ $ 257 9,725 1931 73 $ 48,625 $ 1,267 $ 13 931$ $ 336 6,040 1935 69 $ 30,200 $ 852 $ 9 592$ $ 260

20,510 1940 64 $ 102,550 $ 3,573 $ 36 2,305$ $ 1,269 1,250 1941 63 $ 6,250 $ 232 $ 2 147$ $ 85 9,735 1942 62 $ 48,675 $ 1,934 $ 19 1,209$ $ 725 9,515 1944 60 $ 47,575 $ 2,048 $ 20 1,239$ $ 809

15,915 1945 59 $ 79,575 $ 3,529 $ 35 2,100$ $ 1,429 3,250 1947 57 $ 16,250 $ 966 $ 10 556$ $ 411

19,675 1948 56 $ 98,375 $ 6,530 $ 65 3,689$ $ 2,841 58,470 1949 55 $ 292,350 $ 20,079 $ 201 11,144$ $ 8,935 77,885 1950 54 $ 389,425 $ 28,597 $ 286 15,585$ $ 13,012 79,350 1951 53 $ 396,750 $ 31,020 $ 310 16,596$ $ 14,424 9,930 1952 52 $ 49,650 $ 4,068 $ 41 2,136$ $ 1,932

75,170 1954 50 $ 375,850 $ 33,986 $ 340 17,163$ $ 16,823 135,970 1955 49 $ 679,850 $ 64,608 $ 646 31,981$ $ 32,627 12,400 1956 48 $ 62,000 $ 6,178 $ 62 2,996$ $ 3,182 65,370 1957 47 $ 326,850 $ 34,073 $ 341 16,185$ $ 17,889 35,850 1958 46 $ 179,250 $ 19,590 $ 196 9,109$ $ 10,481

167,920 1959 45 $ 839,600 $ 96,352 $ 964 43,840$ $ 52,512 97,840 1960 44 $ 489,200 $ 58,042 $ 580 25,829$ $ 32,213 99,970 1961 43 $ 499,850 $ 60,961 $ 610 26,518$ $ 34,443

230,225 1962 42 $ 1,151,125 $ 144,533 $ 1,445 61,426$ $ 83,106 63,135 1963 41 $ 315,675 $ 40,954 $ 410 16,996$ $ 23,958

165,630 1964 40 $ 828,150 $ 111,612 $ 1,116 45,203$ $ 66,409 92,560 1965 39 $ 462,800 $ 64,705 $ 647 25,559$ $ 39,147

100,040 1966 38 $ 500,200 $ 73,391 $ 734 28,256$ $ 45,136 33,555 1967 37 $ 167,775 $ 25,945 $ 259 9,730$ $ 16,216

103,105 1968 36 $ 515,525 $ 85,735 $ 857 31,293$ $ 54,442 146,650 1969 35 $ 733,250 $ 133,980 $ 1,340 47,563$ $ 86,417

1,776,980 1970 34 $ 8,884,900 $ 1,766,745 $ 17,667 609,527$ $ 1,157,218 278,680 1971 33 $ 1,393,400 $ 317,202 $ 3,172 106,263$ $ 210,939 24,260 1972 32 $ 121,300 $ 30,618 $ 306 9,951$ $ 20,667

147,810 1973 31 $ 739,050 $ 201,656 $ 2,017 63,522$ $ 138,134 149,220 1974 30 $ 746,100 $ 217,008 $ 2,170 66,188$ $ 150,821 150,575 1975 29 $ 752,875 $ 239,793 $ 2,398 70,739$ $ 169,054 101,715 1976 28 $ 508,575 $ 175,823 $ 1,758 50,109$ $ 125,713 185,040 1977 27 $ 925,200 $ 343,170 $ 3,432 94,372$ $ 248,798 72,150 1978 26 $ 360,750 $ 144,196 $ 1,442 38,212$ $ 105,984 87,030 1979 25 $ 435,150 $ 188,158 $ 1,882 47,980$ $ 140,178

274,320 1980 24 $ 1,371,600 $ 639,290 $ 6,393 156,626$ $ 482,664 76,415 1981 23 $ 382,075 $ 194,476 $ 1,945 45,702$ $ 148,774

103,130 1982 22 $ 515,650 $ 283,997 $ 2,840 63,899$ $ 220,098 50,970 1983 21 $ 254,850 $ 149,204 $ 1,492 32,079$ $ 117,125 33,505 1984 20 $ 167,525 $ 100,008 $ 1,000 20,502$ $ 79,507

Page 1 of 2 Exhibit E


3/3/2006


Current Replacement

Cost

Original Estimated

CostAnnual

Depreciation


(thru 6/30/2004)

Current Net

Value120,420 1985 19 $ 602,100 $ 363,687 $ 3,637 70,919$ $ 292,768 410,150 1986 18 $ 2,050,750 $ 1,268,246 $ 12,682 234,626$ $ 1,033,621 253,985 1987 17 $ 1,269,925 $ 805,657 $ 8,057 140,990$ $ 664,667 202,505 1988 16 $ 1,012,525 $ 658,834 $ 6,588 108,708$ $ 550,126 243,240 1989 15 $ 1,216,200 $ 808,173 $ 8,082 125,267$ $ 682,906 288,560 1990 14 $ 1,442,800 $ 983,057 $ 9,831 142,543$ $ 840,514 130,890 1991 13 $ 654,450 $ 455,618 $ 4,556 61,508$ $ 394,109 319,360 1992 12 $ 1,596,800 $ 1,146,155 $ 11,462 143,269$ $ 1,002,886 327,485 1993 11 $ 1,637,425 $ 1,228,363 $ 12,284 141,262$ $ 1,087,102 55,265 1994 10 $ 276,325 $ 215,171 $ 2,152 22,593$ $ 192,578

668,765 1995 9 $ 3,343,825 $ 2,634,135 $ 26,341 250,243$ $ 2,383,892 476,220 1996 8 $ 2,381,100 $ 1,926,822 $ 19,268 163,780$ $ 1,763,043 195,415 1997 7 $ 977,075 $ 819,505 $ 8,195 61,463$ $ 758,042 18,985 1998 6 $ 94,925 $ 80,915 $ 809 5,259$ $ 75,656

191,305 1999 5 $ 956,525 $ 834,635 $ 8,346 45,905$ $ 788,730 143,500 2000 4 $ 717,500 $ 642,702 $ 6,427 28,922$ $ 613,781 166,100 2001 3 $ 830,500 $ 758,392 $ 7,584 26,544$ $ 731,848 180,485 2002 2 $ 902,425 $ 849,540 $ 8,495 21,238$ $ 828,301 464,630 2003 1 $ 2,323,150 $ 2,239,189 $ 22,392 33,588$ $ 2,205,601

10,341,495 51,707,475$ 24,873,240$ 248,732$ 3,805,217$ 21,068,023$

Year - 2005Current

Replacement Cost

Original Estimated

CostAnnual

Depreciation


(thru 6/30/2005)

Current Net

Value51,707,475$ 24,873,240$ 248,732$ 4,053,950$ 20,819,291$

Page 2 of 2 Exhibit E


3/3/2006

Exhibit F - PCC Ribbon GutterYear - 2004


Current Replacement

Cost

Original Estimated

CostAnnual

Depreciation


(thru 6/30/2004)

Current Net

Value1,888 1920 84 $ 15,104 $ 546 $ 5 461$ $ 85

29,304 1921 83 $ 234,432 $ 6,819 $ 68 5,694$ $ 1,125 18,168 1930 74 $ 145,344 $ 4,248 $ 42 3,165$ $ 1,083 7,032 1931 73 $ 56,256 $ 1,466 $ 15 1,078$ $ 389 5,268 1938 66 $ 42,144 $ 1,432 $ 14 952$ $ 480

780 1939 65 $ 6,240 $ 212 $ 2 139$ $ 73 9,608 1940 64 $ 76,864 $ 2,678 $ 27 1,728$ $ 951 4,276 1941 63 $ 34,208 $ 1,271 $ 13 807$ $ 464

22,476 1942 62 $ 179,808 $ 7,146 $ 71 4,466$ $ 2,680 9,432 1944 60 $ 75,456 $ 3,249 $ 32 1,965$ $ 1,283

10,864 1945 59 $ 86,912 $ 3,854 $ 39 2,293$ $ 1,561 11,872 1946 58 $ 94,976 $ 4,732 $ 47 2,768$ $ 1,964 24,648 1948 56 $ 197,184 $ 13,089 $ 131 7,395$ $ 5,694 11,644 1949 55 $ 93,152 $ 6,398 $ 64 3,551$ $ 2,847 30,792 1950 54 $ 246,336 $ 18,089 $ 181 9,859$ $ 8,231 62,984 1951 53 $ 503,872 $ 39,396 $ 394 21,077$ $ 18,319 10,340 1952 52 $ 82,720 $ 6,777 $ 68 3,558$ $ 3,219 3,796 1953 51 $ 30,368 $ 2,624 $ 26 1,351$ $ 1,272

46,144 1954 50 $ 369,152 $ 33,380 $ 334 16,857$ $ 16,523 136,956 1955 49 $ 1,095,648 $ 104,122 $ 1,041 51,540$ $ 52,582 31,496 1956 48 $ 251,968 $ 25,106 $ 251 12,176$ $ 12,930 58,156 1957 47 $ 465,248 $ 48,501 $ 485 23,038$ $ 25,463 32,732 1958 46 $ 261,856 $ 28,618 $ 286 13,307$ $ 15,310 64,060 1959 45 $ 512,480 $ 58,812 $ 588 26,759$ $ 32,052 74,052 1960 44 $ 592,416 $ 70,288 $ 703 31,278$ $ 39,010 22,384 1961 43 $ 179,072 $ 21,839 $ 218 9,500$ $ 12,339 39,824 1962 42 $ 318,592 $ 40,002 $ 400 17,001$ $ 23,001 38,872 1963 41 $ 310,976 $ 40,344 $ 403 16,743$ $ 23,601 30,764 1964 40 $ 246,112 $ 33,169 $ 332 13,434$ $ 19,736 9,592 1965 39 $ 76,736 $ 10,729 $ 107 4,238$ $ 6,491 7,560 1966 38 $ 60,480 $ 8,874 $ 89 3,416$ $ 5,457

15,092 1968 36 $ 120,736 $ 20,079 $ 201 7,329$ $ 12,750 5,100 1969 35 $ 40,800 $ 7,455 $ 75 2,647$ $ 4,808

93,652 1970 34 $ 749,216 $ 148,980 $ 1,490 51,398$ $ 97,582 100,436 1971 33 $ 803,488 $ 182,911 $ 1,829 61,275$ $ 121,636

528 1972 32 $ 4,224 $ 1,066 $ 11 347$ $ 720 19,628 1974 30 $ 157,024 $ 45,671 $ 457 13,930$ $ 31,742 68,724 1975 29 $ 549,792 $ 175,110 $ 1,751 51,657$ $ 123,453 13,220 1976 28 $ 105,760 $ 36,563 $ 366 10,420$ $ 26,143 18,904 1977 27 $ 151,232 $ 56,094 $ 561 15,426$ $ 40,668 6,544 1978 26 $ 52,352 $ 20,926 $ 209 5,545$ $ 15,380

60,184 1980 24 $ 481,472 $ 224,410 $ 2,244 54,980$ $ 169,429 3,444 1981 23 $ 27,552 $ 14,024 $ 140 3,296$ $ 10,728

23,848 1984 20 $ 190,784 $ 113,894 $ 1,139 23,348$ $ 90,545 4,540 1986 18 $ 36,320 $ 22,461 $ 225 4,155$ $ 18,306 1,376 1987 17 $ 11,008 $ 6,984 $ 70 1,222$ $ 5,761

Page 1 of 2 Exhibit F


3/3/2006


Current Replacement

Cost

Original Estimated

CostAnnual

Depreciation


(thru 6/30/2004)

Current Net

Value18,608 1988 16 $ 148,864 $ 96,863 $ 969 15,982$ $ 80,881 4,656 1989 15 $ 37,248 $ 24,752 $ 248 3,836$ $ 20,915 5,008 1994 10 $ 40,064 $ 31,197 $ 312 3,276$ $ 27,922 3,360 1997 7 $ 26,880 $ 22,545 $ 225 1,691$ $ 20,854 7,560 2003 1 $ 60,480 $ 58,294 $ 583 874$ $ 57,420

1,342,176 10,737,408$ 1,958,089$ 19,581$ 644,231$ 1,313,858$

Year - 2005Current

Replacement Cost

Original Estimated

CostAnnual

Depreciation


(thru 6/30/2005)

Current Net

Value10,737,408$ 1,958,089$ 19,581$ 663,811$ 1,294,277$

Page 2 of 2 Exhibit F

City of Oxnard


Exhibit G - Traffic Signals

Year - 2004

Location Year Age Qty

Current

Replacement

Cost

Original

Estimated

Cost

Annual

Depreciation

Accumulated

Depreciation

(thru 6/30/2004)

Current

Net

Value

A ST & 4 ST 1948 56 1 250,000$ 16,595$ 664$ 16,595$ -$

A ST & 5 ST 1948 56 1 250,000$ 16,595$ 664$ 16,595$ -$

VENTURA RD & WOOLEY RD 1954 50 1 250,000$ 22,606$ 904$ 22,606$ -$

HARBOR BLVD & 5 ST 1958 46 1 250,000$ 27,322$ 1,093$ 27,322$ -$

B ST & 4 ST 1961 43 1 250,000$ 30,490$ 1,220$ 30,490$ -$

B ST & 6 ST 1961 43 1 250,000$ 30,490$ 1,220$ 30,490$ -$

C ST & 9 ST 1961 43 1 250,000$ 30,490$ 1,220$ 30,490$ -$

A ST & 2 ST 1964 40 1 250,000$ 33,693$ 1,348$ 33,693$ -$

C ST & HILL ST 1964 40 1 250,000$ 33,693$ 1,348$ 33,693$ -$

VENTURA RD & GONZALES RD 1964 40 1 250,000$ 33,693$ 1,348$ 33,693$ -$

C ST & 2 ST 1965 39 1 250,000$ 34,953$ 1,398$ 34,953$ -$

H ST/HOBSON WAY & 5 ST 1965 39 1 250,000$ 34,953$ 1,398$ 34,953$ -$

VENTURA RD & 5 ST 1965 39 1 250,000$ 34,953$ 1,398$ 34,953$ -$

VENTURA RD & CHANNEL ISLANDS BL 1965 39 1 250,000$ 34,953$ 1,398$ 34,953$ -$

CHANNEL ISLANDS BLVD & C ST 1966 38 1 250,000$ 36,681$ 1,467$ 36,681$ -$

GONZALES RD & C ST 1966 38 1 250,000$ 36,681$ 1,467$ 36,681$ -$

SAVIERS RD & BRYCE CYN/THOMAS 1966 38 1 250,000$ 36,681$ 1,467$ 36,681$ -$

SAVIERS RD & YUCCA ST 1966 38 1 250,000$ 36,681$ 1,467$ 36,681$ -$

VENTURA RD & DORIS AVE 1966 38 1 250,000$ 36,681$ 1,467$ 36,681$ -$

VENTURA RD & HILL ST 1966 38 1 250,000$ 36,681$ 1,467$ 36,681$ -$

CHANNEL ISLANDS BLVD & J ST 1967 37 1 250,000$ 38,661$ 1,546$ 38,661$ -$

VENTURA RD & 9 ST 1967 37 1 250,000$ 38,661$ 1,546$ 38,661$ -$

SAVIERS RD & BARD RD 1968 36 1 250,000$ 41,577$ 1,663$ 41,577$ -$

SAVIERS RD & CHANNEL ISLANDS BL 1968 36 1 250,000$ 41,577$ 1,663$ 41,577$ -$

SAVIERS RD & ELM ST 1968 36 1 250,000$ 41,577$ 1,663$ 41,577$ -$

SAVIERS RD & LAUREL ST 1968 36 1 250,000$ 41,577$ 1,663$ 41,577$ -$

SAVIERS RD & PLEASANT VALLEY RD 1968 36 1 250,000$ 41,577$ 1,663$ 41,577$ -$

VICTORIA AVE & WOOLEY RD 1968 36 1 250,000$ 41,577$ 1,663$ 41,577$ -$

C ST & 4 ST 1969 35 1 250,000$ 45,680$ 1,827$ 45,680$ -$

C ST & 6 ST 1969 35 1 250,000$ 45,680$ 1,827$ 45,680$ -$

ROSE AVE & GONZALES RD 1969 35 1 250,000$ 45,680$ 1,827$ 45,680$ -$

Page 1 of 4 Exhibit G

City of Oxnard



Current

Replacement

Cost

Original

Estimated

Cost

Annual

Depreciation

Accumulated

Depreciation

(thru 6/30/2004)

Current

Net

Value

VENTURA RD & HEMLOCK ST 1969 35 1 250,000$ 45,680$ 1,827$ 45,680$ -$

WOOLEY RD & J ST 1969 35 1 250,000$ 45,680$ 1,827$ 45,680$ -$

A ST & 6 ST 1970 34 1 250,000$ 49,712$ 1,988$ 49,712$ -$

C ST & 5 ST 1970 34 1 250,000$ 49,712$ 1,988$ 49,712$ -$

HARBOR BLVD & CHANNEL ISLANDS BL 1970 34 1 250,000$ 49,712$ 1,988$ 49,712$ -$

PLEASANT VALLEY RD & J ST 1970 34 1 250,000$ 49,712$ 1,988$ 49,712$ -$

RICE AVE & LATIGO AVE 1970 34 1 250,000$ 49,712$ 1,988$ 49,712$ -$

ROSE AVE & 1 ST/SANTA LUCIA 1970 34 1 250,000$ 49,712$ 1,988$ 49,712$ -$

VICTORIA AVE & 5 ST 1970 34 1 250,000$ 49,712$ 1,988$ 49,712$ -$

WOOLEY RD & COMMERCIAL AVE 1970 34 1 250,000$ 49,712$ 1,988$ 49,712$ -$

CHANNEL ISLANDS BLVD & M ST 1971 33 1 250,000$ 56,911$ 2,276$ 56,911$ -$

CHANNEL ISLANDS BL & CLOYNE/GISLER 1972 32 1 250,000$ 63,103$ 2,524$ 63,103$ -$

GONZALES RD & H ST 1972 32 1 250,000$ 63,103$ 2,524$ 63,103$ -$

ROSE AVE & CAMINO del SOL 1972 32 1 250,000$ 63,103$ 2,524$ 63,103$ -$

VENTURA RD & IVYWOOD DR 1972 32 1 250,000$ 63,103$ 2,524$ 63,103$ -$

C ST & 3 ST 1973 31 1 250,000$ 68,215$ 2,729$ 68,215$ -$

CHANNEL ISLANDS BL & DUPONT ST 1973 31 1 250,000$ 68,215$ 2,729$ 68,215$ -$

C ST & WOOLEY RD 1975 29 1 250,000$ 79,626$ 3,185$ 79,626$ -$

ROSE AVE & PLEASANT VALLEY RD 1975 29 1 250,000$ 79,626$ 3,185$ 79,626$ -$

VICTORIA AVE & CHANNEL ISLANDS BL 1975 29 1 250,000$ 79,626$ 3,185$ 79,626$ -$

VICTORIA AVE & HEMLOCK ST 1975 29 1 250,000$ 79,626$ 3,185$ 79,626$ -$

PLEASANT VALLEY RD & CLOYNE/CYPRESS 1978 26 1 250,000$ 99,928$ 3,997$ 99,928$ -$

GONZALES RD & LANTANA ST 1979 25 1 250,000$ 108,099$ 4,324$ 108,099$ -$

VENTURA RD & 2 ST 1979 25 1 250,000$ 108,099$ 4,324$ 108,099$ -$

VENTURA RD & VINEYARD AVE 1979 25 1 250,000$ 108,099$ 4,324$ 108,099$ -$

CHANNEL ISLANDS BL & ALBANY DR 1980 24 1 250,000$ 116,523$ 4,661$ 114,192$ 2,330$

CHANNEL ISLANDS BL & PENINSULA RD 1980 24 1 250,000$ 116,523$ 4,661$ 114,192$ 2,330$

CHANNEL ISLANDS BL & STATE ROUTE 1 1980 24 1 250,000$ 116,523$ 4,661$ 114,192$ 2,330$

CHANNEL ISLANDS BL & STATHAM BL 1980 24 1 250,000$ 116,523$ 4,661$ 114,192$ 2,330$

ROSE AVE & CHANNEL ISLANDS BLVD 1980 24 1 250,000$ 116,523$ 4,661$ 114,192$ 2,330$

VENTURA RD & PLAZA DRIVEWAY 1980 24 1 250,000$ 116,523$ 4,661$ 114,192$ 2,330$

VENTURA RD & WAGON WHEEL RD 1980 24 1 250,000$ 116,523$ 4,661$ 114,192$ 2,330$

VICTORIA AVE & GONZALES RD 1982 22 1 250,000$ 137,689$ 5,508$ 123,920$ 13,769$


City of Oxnard



Current

Replacement

Cost

Original

Estimated

Cost

Annual

Depreciation

Accumulated

Depreciation

(thru 6/30/2004)

Current

Net

Value

HARBOR BLVD & COSTA DE ORO 1983 21 1 250,000$ 146,364$ 5,855$ 125,873$ 20,491$

HUENEME RD & ARCTURUS AVE 1983 21 1 250,000$ 146,364$ 5,855$ 125,873$ 20,491$

VENTURA RD & BAY BLVD 1983 21 1 250,000$ 146,364$ 5,855$ 125,873$ 20,491$

A ST & 3 ST 1985 19 1 250,000$ 151,008$ 6,040$ 117,786$ 33,222$

PLEASANT VALLEY RD & BARD RD 1985 19 1 250,000$ 151,008$ 6,040$ 117,786$ 33,222$

RICE AVE & CAMINO del SOL 1986 18 1 250,000$ 154,608$ 6,184$ 114,410$ 40,198$

RICE AVE & GONZALES RD 1986 18 1 250,000$ 154,608$ 6,184$ 114,410$ 40,198$

RICE AVE & STURGIS RD 1986 18 1 250,000$ 154,608$ 6,184$ 114,410$ 40,198$

ROSE AVE & WOOLEY RD 1986 18 1 250,000$ 154,608$ 6,184$ 114,410$ 40,198$

VENTURA RD & DEVONSHIRE DR 1986 18 1 250,000$ 154,608$ 6,184$ 114,410$ 40,198$

AUTO CENTER DR & PASEO MERCADO 1988 16 1 250,000$ 162,671$ 6,507$ 107,363$ 55,308$

AUTO CENTER DR & VENTURA BLVD 1988 16 1 250,000$ 162,671$ 6,507$ 107,363$ 55,308$

GONZALES RD & PATTERSON RD 1988 16 1 250,000$ 162,671$ 6,507$ 107,363$ 55,308$

HARBOR BLVD & WOOLEY RD 1988 16 1 250,000$ 162,671$ 6,507$ 107,363$ 55,308$

ROSE AVE & AUTO CENTER DR 1988 16 1 250,000$ 162,671$ 6,507$ 107,363$ 55,308$

SANTA CLARA AVE & AUTO CENTER DR 1988 16 1 250,000$ 162,671$ 6,507$ 107,363$ 55,308$

VENTURA RD & BEVRA AVE 1988 16 1 250,000$ 162,671$ 6,507$ 107,363$ 55,308$

VENTURA RD & HOLLY AVE 1988 16 1 250,000$ 162,671$ 6,507$ 107,363$ 55,308$

WOOLEY RD & PACIFIC AVE 1988 16 1 250,000$ 162,671$ 6,507$ 107,363$ 55,308$

C ST & 7 ST 1989 15 1 250,000$ 166,127$ 6,645$ 102,999$ 63,128$

ROSE AVE & 3 ST 1989 15 1 250,000$ 166,127$ 6,645$ 102,999$ 63,128$

ROSE AVE & EASTMAN AVE 1989 15 1 250,000$ 166,127$ 6,645$ 102,999$ 63,128$

GONZALES RD & LOMBARD ST 1990 14 1 250,000$ 170,338$ 6,814$ 98,796$ 71,542$

VICTORIA AVE & CURLEW WAY 1990 14 1 250,000$ 170,338$ 6,814$ 98,796$ 71,542$

WOOLEY RD & PATTERSON RD 1990 14 1 250,000$ 170,338$ 6,814$ 98,796$ 71,542$

GONZALES RD & ENTRADA DR 1991 13 1 250,000$ 174,046$ 6,962$ 93,985$ 80,061$

GONZALES RD & SNOW AVE 1991 13 1 250,000$ 174,046$ 6,962$ 93,985$ 80,061$

H ST & VINEYARD AVE 1991 13 1 250,000$ 174,046$ 6,962$ 93,985$ 80,061$

HOBSON WAY & 7 ST 1991 13 1 250,000$ 174,046$ 6,962$ 93,985$ 80,061$

HOBSON WAY & 9 ST 1991 13 1 250,000$ 174,046$ 6,962$ 93,985$ 80,061$

HUENEME RD & J ST 1991 13 1 250,000$ 174,046$ 6,962$ 93,985$ 80,061$

PLEASANT VALLEY RD & C ST 1991 13 1 250,000$ 174,046$ 6,962$ 93,985$ 80,061$

VENTURA RD & 7 ST 1991 13 1 250,000$ 174,046$ 6,962$ 93,985$ 80,061$


City of Oxnard



Current

Replacement

Cost

Original

Estimated

Cost

Annual

Depreciation

Accumulated

Depreciation

(thru 6/30/2004)

Current

Net

Value

VENTURA RD & TOWN CENTER DR 1991 13 1 250,000$ 174,046$ 6,962$ 93,985$ 80,061$

SAVIERS RD & HUENEME RD 1992 12 1 250,000$ 179,446$ 7,178$ 89,723$ 89,723$

GONZALES RD & CAMPUS 1994 10 1 250,000$ 194,672$ 7,787$ 81,762$ 112,910$

PATTERSON RD & FIFTH ST 1994 10 1 250,000$ 194,672$ 7,787$ 81,762$ 112,910$

HUENEME RD & EDISON DR 1995 9 1 250,000$ 196,940$ 7,878$ 74,837$ 122,103$

ROSE AVE & LOCKWOOD ST 1996 8 1 250,000$ 202,304$ 8,092$ 68,783$ 133,521$

CAMINO DEL SOL & DEL NORTE BL 1998 6 1 250,000$ 213,103$ 8,524$ 55,407$ 157,696$

CAMINO DEL SOL & KOHALA 1998 6 1 250,000$ 213,103$ 8,524$ 55,407$ 157,696$

ROSE AVE & BARD RD 1998 6 1 250,000$ 213,103$ 8,524$ 55,407$ 157,696$

GONZALES RD & WILLIAMS DR 2000 4 1 250,000$ 223,938$ 8,958$ 40,309$ 183,629$

PLEASANT VALLEY RD & SQUIRES DR 2000 4 1 250,000$ 223,938$ 8,958$ 40,309$ 183,629$

GONZALES RD & SOLAR DR 2001 3 1 250,000$ 228,294$ 9,132$ 31,961$ 196,333$

ROSE AVE & CESAR CHAVEZ 2001 3 1 250,000$ 228,294$ 9,132$ 31,961$ 196,333$

ROSE AVE & EMERSON AV 2001 3 1 250,000$ 228,294$ 9,132$ 31,961$ 196,333$

GONZALES RD & MERION WY 2002 2 1 250,000$ 235,349$ 9,414$ 23,535$ 211,814$

THIRD ST & GARFIELD 2002 2 1 250,000$ 235,349$ 9,414$ 23,535$ 211,814$

C St. & Maywood Dr. 2003 1 1 250,000$ 240,965$ 9,639$ 14,458$ 226,507$

PLEASANT VALLEY RD & OLDS RD 2003 1 1 250,000$ 240,965$ 9,639$ 14,458$ 226,507$

ROSE AVE & RAIDERS WAY 2003 1 1 250,000$ 240,965$ 9,639$ 14,458$ 226,507$

K ST & FIFTH 2004 0 1 250,000$ 250,000$ 10,000$ 5,000$ 245,000$

PATTERSON RD & HEMLOCK ST 2004 0 1 250,000$ 250,000$ 10,000$ 5,000$ 245,000$

PERKINS & HUENEME 2004 0 1 250,000$ 250,000$ 10,000$ 5,000$ 245,000$

PLEASANT VALLEY RD & PERKINS 2004 0 1 250,000$ 250,000$ 10,000$ 5,000$ 245,000$ STURGIS & DEL NORTE 2004 0 1 250,000$ 250,000$ 10,000$ 5,000$ 245,000$

121 30,250,000$ 14,467,963$ 578,719$ 8,157,979$ 6,309,983$

Year - 2005

Current

Replacement

Cost

Original

Estimated

Cost

Annual

Depreciation

Accumulated

Depreciation

(thru 6/30/2005)

Current

Net

Value

30,250,000$ 14,467,963$ 578,719$ 8,736,698$ 5,731,265$


City of Oxnard


Exhibit H - Bridges

Year - 2004

Location Year Age Qty (SF)

Current

Replacement

Cost

Original

Estimated

Cost

Annual

Depreciation

Accumulated

Depreciation

(thru 6/30/2004)

Current

Net

Value

Mandalay Bridge #1 1989 15 40,194 21,905,730$ 14,556,507$ 145,565$ 2,256,259$ 12,300,249$ Mandalay Bridge #2 1989 15 12,500 6,812,500$ 4,526,953$ 45,270$ 701,678$ 3,825,275$

52,694 28,718,230$ 19,083,460$ 190,835$ 2,957,936$ 16,125,524$

Year - 2005

Current

Replacement

Cost

Original

Estimated

Cost

Annual

Depreciation

Accumulated

Depreciation

(thru 6/30/2005)

Current

Net

Value

28,718,230$ 19,083,460$ 190,835$ 3,148,771$ 15,934,689$

Page 1 of 1 Exhibit H

City of Oxnard


Exhibit I - Seawalls/Waterways

Year - 2004

Name Year Age

Qty

(Mi)

Current

Replacement

Cost

Original

Estimated

Cost

Annual

Depreciation

Accumulated

Depreciation

(thru 6/30/2004)

Current

Net

Value

Mandalay Bay 1978 26 7.8 57,336,188$ 22,917,964$ 305,573$ 8,097,681$ 14,820,283$

Westport *** Information not available ***Seabridge *** Information not available ***

7.8 57,336,188$ 22,917,964$ 305,573$ 8,097,681$ 14,820,283$

Year - 2005

Current

Replacement

Cost

Original

Estimated

Cost

Annual

Depreciation

Accumulated

Depreciation

(thru 6/30/2005)

Current

Net

Value

57,336,188$ 22,917,964$ 305,573$ 8,403,253$ 14,514,710$

Page 1 of 1 Exhibit I


3/3/2006Exhibit J - Storm Drain PipesYear - 2004

Year Age

Current Replacement

Cost

Original Estimated

CostAnnual

Depreciation



Value1980 24 2,254,368$ 934,886$ 9,349$ 229,047$ 705,839$ 1981 23 3,024,152$ 1,356,667$ 13,567$ 318,817$ 1,037,850$ 1982 22 1,979,445$ 957,195$ 9,572$ 215,369$ 741,826$ 1983 21 4,068,859$ 2,148,703$ 21,487$ 461,971$ 1,686,732$ 1984 20 1,099,691$ 628,372$ 6,284$ 128,816$ 499,555$ 1985 19 1,209,661$ 734,760$ 7,348$ 143,278$ 591,481$ 1986 18 1,264,645$ 783,271$ 7,833$ 144,905$ 638,366$ 1987 17 1,209,661$ 758,071$ 7,581$ 132,662$ 625,408$ 1988 16 1,649,537$ 1,058,375$ 10,584$ 174,632$ 883,743$ 1989 15 1,814,491$ 1,194,300$ 11,943$ 185,117$ 1,009,184$ 1990 14 2,672,250$ 1,803,989$ 18,040$ 261,578$ 1,542,410$ 1991 13 736,793$ 507,963$ 5,080$ 68,575$ 439,388$ 1992 12 2,034,429$ 1,438,142$ 14,381$ 179,768$ 1,258,374$ 1993 11 1,484,584$ 1,072,298$ 10,723$ 123,314$ 948,984$ 1994 10 1,704,522$ 1,269,352$ 12,694$ 133,282$ 1,136,070$ 1995 9 1,264,645$ 984,285$ 9,843$ 93,507$ 890,778$ 1996 8 989,722$ 799,584$ 7,996$ 67,965$ 731,620$ 1997 7 1,264,645$ 1,033,593$ 10,336$ 77,520$ 956,074$ 1998 6 1,759,506$ 1,477,207$ 14,772$ 96,018$ 1,381,189$ 1999 5 1,704,522$ 1,483,245$ 14,832$ 81,578$ 1,401,666$ 2000 4 2,341,243$ 2,070,535$ 20,705$ 93,174$ 1,977,361$ 2001 3 2,605,719$ 2,358,927$ 23,589$ 82,562$ 2,276,365$ 2002 2 2,408,324$ 2,238,511$ 22,385$ 55,963$ 2,182,548$ 2003 1 1,580,807$ 1,497,681$ 14,977$ 22,465$ 1,475,216$ 2004 0 2,339,594$ 2,285,071$ 22,851$ 11,425$ 2,273,645$

46,465,815$ 32,874,980$ 328,750$ 3,583,309$ 29,291,671$

Year - 2005 Current

Replacement Cost

Original Estimated

CostAnnual

Depreciation



Value46,465,815$ 32,874,980$ 328,750$ 3,912,059$ 28,962,921$

Page 1 of 1 Exhibit J


3/3/2006Exhibit K - Storm Drain Catch BasinsYear - 2004

Year Age

Current Replacement

Cost

Original Estimated

CostAnnual

Depreciation



Value1980 24 382,321$ 158,549$ 3,171$ 77,689$ 80,860$ 1981 23 512,870$ 230,079$ 4,602$ 108,137$ 121,942$ 1982 22 335,697$ 162,332$ 3,247$ 73,049$ 89,283$ 1983 21 690,043$ 364,401$ 7,288$ 156,693$ 207,709$ 1984 20 186,498$ 106,566$ 2,131$ 43,692$ 62,874$ 1985 19 205,148$ 124,609$ 2,492$ 48,597$ 76,011$ 1986 18 214,473$ 132,836$ 2,657$ 49,149$ 83,687$ 1987 17 205,148$ 128,562$ 2,571$ 44,997$ 83,565$ 1988 16 279,747$ 179,491$ 3,590$ 59,232$ 120,259$ 1989 15 307,722$ 202,543$ 4,051$ 62,788$ 139,755$ 1990 14 453,191$ 305,941$ 6,119$ 88,723$ 217,218$ 1991 13 124,954$ 86,146$ 1,723$ 23,259$ 62,887$ 1992 12 345,022$ 243,896$ 4,878$ 60,974$ 182,922$ 1993 11 251,773$ 181,852$ 3,637$ 41,826$ 140,026$ 1994 10 289,072$ 215,271$ 4,305$ 45,207$ 170,064$ 1995 9 214,473$ 166,926$ 3,339$ 31,716$ 135,210$ 1996 8 167,848$ 135,603$ 2,712$ 23,052$ 112,550$ 1997 7 214,473$ 175,289$ 3,506$ 26,293$ 148,995$ 1998 6 298,397$ 250,522$ 5,010$ 32,568$ 217,954$ 1999 5 289,072$ 251,546$ 5,031$ 27,670$ 223,876$ 2000 4 397,055$ 351,145$ 7,023$ 31,603$ 319,542$ 2001 3 441,908$ 400,054$ 8,001$ 28,004$ 372,050$ 2002 2 408,431$ 379,632$ 7,593$ 18,982$ 360,651$ 2003 1 268,091$ 253,994$ 5,080$ 7,620$ 246,374$ 2004 0 396,775$ 387,528$ 7,751$ 3,875$ 383,653$

7,880,202$ 5,575,313$ 111,506$ 1,215,397$ 4,359,917$

Year - 2005 Current

Replacement Cost

Original Estimated

CostAnnual

Depreciation



Value7,880,202$ 5,575,313$ 111,506$ 1,326,903$ 4,248,410$

Page 1 of 1 Exhibit K


3/3/2006Exhibit L - Rights-of-Way

Year

Total Area

(Acres)

Original Estimated

Cost

Current Net

Value1920 0.28 31,415$ 31,415$ 1921 7.98 924,957$ 924,957$ 1930 4.36 604,912$ 604,912$ 1931 3.69 521,049$ 521,049$ 1935 1.23 188,833$ 188,833$ 1938 0.86 139,306$ 139,306$ 1939 0.11 18,907$ 18,907$ 1940 6.02 1,016,935$ 1,016,935$ 1941 0.89 152,837$ 152,837$ 1942 5.37 943,484$ 943,484$ 1944 3.98 727,773$ 727,773$ 1945 6.29 1,173,930$ 1,173,930$ 1946 1.74 330,565$ 330,565$ 1947 0.59 114,384$ 114,384$ 1948 8.08 1,599,152$ 1,599,152$ 1949 14.62 2,952,340$ 2,952,340$ 1950 19.36 3,986,906$ 3,986,906$ 1951 25.33 5,319,808$ 5,319,808$ 1952 3.63 778,620$ 778,620$ 1953 0.56 121,412$ 121,412$ 1954 23.14 5,157,718$ 5,157,718$ 1955 49.81 11,325,912$ 11,325,912$ 1956 7.10 1,647,507$ 1,647,507$ 1957 23.79 5,626,826$ 5,626,826$ 1958 11.37 2,742,963$ 2,742,963$ 1959 46.88 11,538,907$ 11,538,907$ 1960 32.81 8,235,386$ 8,235,386$ 1961 24.14 6,181,687$ 6,181,687$ 1962 53.39 13,943,927$ 13,943,927$ 1963 18.72 4,988,274$ 4,988,274$ 1964 39.80 10,814,964$ 10,814,964$ 1965 19.92 5,521,293$ 5,521,293$ 1966 20.87 5,899,101$ 5,899,101$ 1967 7.13 2,055,409$ 2,055,409$ 1968 23.95 7,043,203$ 7,043,203$ 1969 33.09 9,928,355$ 9,928,355$ 1970 430.01 131,591,563$ 131,591,563$ 1971 74.70 23,316,677$ 23,316,677$ 1972 5.20 1,656,723$ 1,656,723$ 1973 34.61 11,238,018$ 11,238,018$ 1974 35.74 11,837,552$ 11,837,552$ 1975 43.75 14,782,272$ 14,782,272$ 1976 24.22 8,345,686$ 8,345,686$ 1977 43.06 15,136,416$ 15,136,416$ 1978 16.63 5,963,660$ 5,963,660$

Page 1 of 2 Exhibit L


3/3/2006

Year

Total Area

(Acres)

Original Estimated

Cost

Current Net

Value1979 18.76 6,861,336$ 6,861,336$ 1980 68.71 25,630,768$ 25,630,768$ 1981 16.47 6,265,198$ 6,265,198$ 1982 22.70 8,811,489$ 8,811,489$ 1983 10.88 4,307,973$ 4,307,973$ 1984 10.75 4,341,736$ 4,341,736$ 1985 25.86 10,648,905$ 10,648,905$ 1986 85.14 35,766,798$ 35,766,798$ 1987 51.50 22,067,343$ 22,067,343$ 1988 45.62 19,938,590$ 19,938,590$ 1989 55.98 24,954,590$ 24,954,590$ 1990 60.49 27,505,049$ 27,505,049$ 1991 29.71 13,781,083$ 13,781,083$ 1992 74.36 35,179,481$ 35,179,481$ 1993 73.52 35,479,715$ 35,479,715$ 1994 12.48 6,144,188$ 6,144,188$ 1995 153.44 77,032,583$ 77,032,583$ 1996 108.55 55,586,735$ 55,586,735$ 1997 45.02 23,515,383$ 23,515,383$ 1998 4.21 2,241,583$ 2,241,583$ 1999 46.41 25,218,858$ 25,218,858$ 2000 30.37 16,835,619$ 16,835,619$ 2001 40.68 22,997,454$ 22,997,454$ 2002 39.68 22,885,025$ 22,885,025$ 2003 101.13 59,487,509$ 59,487,509$

2,491 951,652,515$ 951,652,515$

Page 2 of 2 Exhibit L

EXHIBIT M

(City of Oxnard)

MEMORANDUM

To:

From: Lettie De Dios, Accounting Manager

Re: Instructions for Capturing Acquisition and Cost Information for GASB 34

Date:

Introduction

The Governmental Accounting Standards Board, is a nationally-recognized non-profit organization which prescribes standards for accounting practices and financial statements for all states and local governments. In June1999, this board adopted Statement 34 (GASB 34), which requires that these units of government disclose the Net Book Value of capital assets, including Infrastructure Assets. The values of these assets must be reported in annual financial statements. In our case, these statements are included in the City’s Comprehensive Annual Financial Report (CAFR).

GASB 34 Requirements and Maintenance Management

GASB 34 requires that the value of assets be reported using the Basic Approach. This requires that we determine Net Book Value (current) by capturing the actual historical cost of assets (of particular concern are Infrastructure Assets) and the acquisition date (which may be date of construction completion or date placed into service) and then applying a straight-line depreciation formula using an estimated useful life. GASB 34 allows agencies to use the “Modified Approach” where asset management systems are being employed; however the City of Oxnard is utilizing the Basic Approach for all Infrastructure Assets. It is critical that accurate cost and acquisition information be collected and recorded for our Infrastructure Assets for the purpose of GASB 34 reporting and to keep our records system up to date for on-going maintenance management.

Infrastructure Assets

Cost and acquisition data is to be collected and reported for the following Assets:

Network SubsystemRoadway Pavement

Curb & GutterSidewalksRibbon GutterTraffic SignalsBridges

Waterways/Seawalls N/AStorm Drain Pipes

Catch BasinsRights-of-Way Land N/A

Instructions/Procedures for Capturing Future GASB 34 Information

The attached form (“GASB Infrastructure Inventory Valuation Form”) provides a format with which to supply the necessary information. The following includes important guidance on when/how to complete the form.

♦ These forms should be completed for Asset information by fiscal year beginning with FY2005-2006, and every fiscal year thereafter until further advised.

♦ The forms should be completed throughout the fiscal year as asset acquisitions (such as new construction and replacement construction) occur, or when dispositions occur (an asset is sold, demolished or removed). This task should not be left until the end of the fiscal year

♦ Information should be collected on City-initiated projects (CIP Projects and the like) as well as developer-built and dedicated/donated infrastructure improvements, whether it is parks, streets, signals, etc.

Acquisition/improvement dates and costs are needed for physical improvements. These kinds of projects (replacement, improvement and preservation costs) should be distinguished from routine maintenance costs, which are not reported under GASB 34. “Preservation” costs are cost outlays that extend the useful life of an asset (assuming routine maintenance) beyond its original estimated useful life. Also, if the capacity or efficiency of an asset has been increased by a cost outlay (such as a road widening, adding weight capacity or a resurfacing, signal modification), the costs associated with such improvements should be reported.

Streets/Roadways:

1. Pavement: New streets, street overlays, pavement widening, adding weight capacity or resurfacing through City CIP efforts. This will also include improved streets dedicated by developers. Paving or repaving of alleys is also to be included. Slurry, fog seal, and other maintenance applications would not be reported.

2. Curb & gutter, ribbon gutter and sidewalk: Replacements of curb & gutter, ribbon gutter and sidewalk are to be reported by deducting the depreciated value of the old material and adding in the actual cost of the new material and installation costs. New curb & gutter, ribbon gutter, sidewalk added by developer dedications are to be reported. Patching and cleaning are maintenance activities and should not be reported.

3. Traffic Signals: New signals and signal modifications that add more lights/turning movements, replace controller boxes, and those that are a part of intersection widening and/or improvement should be reported. Routine signal maintenance is not to be reported.

4. Bridges: New bridges or major improvement, rehabilitation, retrofit or modification projects. Routine maintenance does not qualify for reporting.

Storm Drains:

1. Pipes: New pipes either installed/dedicated by developers or by the City, as well as pipe replacement. Old pipe that has been replaced should be given a depreciated value and reported along with the new value of the replacement pipe. Patching and routine maintenance or cleaning are routine maintenance activities and are not to be reported.

2. Structures: These could include basins, catch basins, manholes, culverts, inlet/outlet structures, concrete channels and the like. Follow the guidelines for pipes

Land with Rights-of-Way:

This includes land acquired either by easement or in “fee simple” dedicated through developers or acquired by purchase by the City. It should be recorded at the purchase cost. In the event a developer dedicates this land, it should be recorded at the cost the developer paid for it, or failing this information, at fair market value based upon the value of abutting/nearby land.

♦ Please remember that the value of City CIP “projects in progress” should be reported to the extent/amount that they are complete. This information can be obtained by reviewing Progress Payments to date for these projects. No depreciation is to be calculated for the fiscal year in which the projects are in progress. However, for the subsequent fiscal year ending (when the projects are complete), the entire value of the project should be reported. In following years, those values should be depreciated.

♦ The most critical pieces of information are quantities, acquisition/disposition dates and costs. Please complete these portions of the form in thorough fashion.

♦ Quantity information can be obtained from record drawings, bid documents and other related sources. This information should be collected and reported on the form upon receipt of record drawings. Cost data can be obtained through unit costs (if estimating), developer information, Council-accepted project totals, progress payments, final invoices or other means.

♦ Administrative Services Department: The most convenient and acceptable way to eliminate the value of assets that are demolished, removed or replaced is for the appropriate department/division to identify the asset on the attached form and enter the quantity (whether number of signs, linear feet of certain material, etc.) removed/eliminated. Then go to the appropriate Asset Module and eliminate the same amount(s) from the oldest dates/years. Basically, this will eliminate the oldest assets, and the departments do not have to track which specific assets (with corresponding age) were removed.

It is important that we capture all relevant information and report it. Failure to comply with GASB 34 will result in the City receiving a “qualified” opinion from our independent auditor, and it may have a negative affect our credit/bond rating.

Thank you for your cooperation.

Department: Division:

Prepared By: Phone/Extension:

Date Prepared:

Description of the Asset:

Date Acquired Constructed Removed:

Basis of Valuation: (Please check one)

Actual Cost (should include design, construction mgmt, fees, transportation, etc.) Estimated Cost

If Estimated Cost, describe the method used:

Quantity: (Example: 35,000 SF of concrete sidewalk)

Source Document / Information:

Total Valuation Amount: $

INFRASTRUCTURE INVENTORY VALUATION FORM

CITY OF OXNARD

GASB 34

revised final gasb 34 report - oxnard · 2019-10-18 · infrastructure inventory and valuation...

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