ANNUAL REPORT FOR SMALL BUSINESS ISSUERS SUBJECT
TO THE 1934 ACT REPORTING REQUIREMENTS

U.S. SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-KSB

[X] ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
[Fee Required]

For the Fiscal Year ended September 30, 2000

Commission file number 0-8463

PISMO COAST VILLAGE, INC.
(Name of small business issuer in its charter)

California                        95-2990441
(State or other         (IRS Employer ID Number)
jurisdiction of incorporation or organization)

165 South Dolliver Street, Pismo Beach, CA 93449
(Address of Principal                 (Zip Code)
Executive Offices)

Issuer's telephone number     (805)773-5649

Securities registered pursuant to Section
12(b) of the Act:

Title of Each Class       Name of Each Exchange
on Which Registered
      N/A                          N/A


Securities registered pursuant to Section 12(g)
of the Act:

Common Stock
(Title of Class)


Check whether the issuer (1) filed all reports
required to be filed by Section 13 or 15(d) of
the Exchange Act during the past 12 months
(or for such shorter period that the registrant
was required to file such reports), and (2) has
been subject to such filing requirements for the
90 days past.      YES  XX     NO __

Check if there is no disclosure of delinquent
filers in response to Item 405 of Regulation S-B
is not contained in this form, and no disclosure
will be contained, to the best of registrant's
knowledge, in definitive proxy or information
statements incorporated by reference in Part III
of this Form 10-KSB or any amendment to this Form
10-KSB.  XX


<PAGE>


State issuer's revenues for its most recent
fiscal year. $3,111,148.

State the aggregate market value of the voting
stock held by non-affiliates computed by
reference to the price at which the stock was
sold, or the average bid and asked prices of
such stock, as of a specified date within the
past 60 days (See definition of affiliate in
Rule 12b-2 of the Exchange Act).
$16,834,000.00

State the number of shares outstanding of each of
the issuer's classes of common equity, as of the
latest practicable date.  1,800

Statements in this Annual Report on Form 10-KSB
which express the "Belief," "Anticipation,"
"Intention" or "Expectation," as well as
other statements which are not historical fact,
and statements as to business opportunities,
market conditions, and operating performance
insofar as they may apply prospectively, are
forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of
1995 and involve risks and uncertainties that
could cause actual results to differ materially
from those projected.


<PAGE>


FORM 10-KSB PART I


ITEM 1     DESCRIPTION OF BUSINESS
(a)  GENERAL DEVELOPMENT OF BUSINESS

Pismo Coast Village, Inc., the "Registrant" or
the "Company" was incorporated under the laws
of the State of California on April 2, 1975.
The Company's sole business is owning and
Operating a recreational vehicle resort
(hereinafter the "Resort") in Pismo Beach,
California. The Resort has continued to enhance
its business by upgrading facilities and services
to better serve customers.

(b)  BUSINESS OF ISSUER
The Company is engaged in only one business,
namely, the ownership and operation of the Resort.
The Company generates revenue from rental of
camping sites, recreational vehicle storage,
recreational vehicle repair and retail sales from
a general store and recreational vehicle parts
store. Accordingly, all of the revenues, operating
profit (loss) and identifiable assets of the
Company, are attributable to a single industry
segment.

Pismo Coast Village, Inc., is a full-service 400
space recreational vehicle resort. Its resort
operations include site rentals, RV storage
business, video arcade, Laundromat, and other
income sources related to the operation. The
retail operations include a general store, RV
parts store, and RV repair shop. In addition, the
Company has a recreation department that provides
a youth program and recreational equipment
rentals.


PUBLIC AND SHAREHOLDER USERS
The present policy of the Company is to offer each
shareholder the opportunity for 45 days of free
use of sites at the Resort, 25 days may be used
during prime time and 20 days during non-prime
time. The free use of sites by shareholders is
managed by designating the days of the year as
prime time and non-prime time. A prime time
day is one that is most in demand, for example
Memorial Day Weekend and the period from mid-June
until Labor Day. Non-prime time is that time with
the least demand. Each shareholder is furnished
annually a calendar that designates the prime and
non-prime time days; it also provides a schedule
of when reservations can be made and the procedure
for making reservations. Shareholders' free use of
sites average approximately 20% to 22% annually,
refer to Item 6 Result of Operations MD&A, page 9.

SEASONAL ASPECTS OF BUSINESS
The business of the Company is seasonal and is
concentrated during prime days of the year which
are defined as follows:  President's Day Weekend,
Easter week, Memorial Day Weekend, summer
vacation months, Labor Day, Thanksgiving Weekend
and Christmas vacation.


<PAGE>


WORKING CAPITAL REQUIREMENTS
By accumulating reserves during the prime seasons,
the Company is able generally to meet its working
capital needs during off-season. Industry practice
is to accumulate funds during the prime season and
use such funds, as necessary, in the off-season.
The Company has arranged, but not used, a $500,000
line of credit to ensure funds are available, if
necessary, in the off-season.

COMPETITION
The Company is in competition with nine other RV
parks located within a five-mile radius. Since its
property is the only property located adjacent to
the beach, it has a competitive edge. The Company
is recognized as a recreational vehicle resort
rather than a park because of its upgraded
facilities and amenities which include 26 Channels
of Satellite TV, a heated pool, a miniature golf
course and a recreational program. The Resort is
noted for its ability to provide full service
which includes RV storage and RV repair and
service. The Resort is consistently given high
ratings by industry travel guides based on resort
appearance, facilities offered, and recreational
programs. In Fiscal Year 1999, Pismo Coast
Village, Inc., was awarded the designation of RV
Park of the Year, Mega Park Category 1999, by the
California Travel Parks Association (CTPA). In
November 1999, Pismo Coast Village, Inc. was
awarded the designation of RV Park of the Year,
Large Park Category 1999, by the National
Association of RV Parks and Campgrounds (ARVC)
which has a membership of more than 3,500
properties. These factors allow the Resort to
price its site rental fees well above most of its
competition based on perceived value received.

Competition for the tourist market is keen between
the cities on the Central Coast of California.
Resort management and staff are involved with the
City of Pismo Beach, Chamber of Commerce,
Conference and Visitors Bureau, and Business
Improvement Group and are major sponsors in
cooperative events and advertising. The Resort
continues to market off-season discounts and place
advertisements in trade publications and industry
directories. In addition, the Company places its
brochure with companies selling or renting
recreational vehicles and has found the Resort's
Internet web page to be very effective. The
marketing program also targets groups and clubs by
offering group discounts, meeting facilities, and
catering services. The Company's marketing plan
was funded by $54,204 for Fiscal Year 2000 which
was developed out of operating revenues. The major
source of the Company's business is repeat
business, which has been developed by attention to
good customer service and providing quality
recreational facilities.

ENVIRONMENTAL REGULATION
The Company is affected by federal, state and
local antipollution laws and regulations. Due to
the nature of its business operations (camping,
RV storage and small retail store sales) the
discharge of materials into the environment is not
considered to be of a significant concern, and the
EPA has not designated the Company as a
potentially responsible party for clean up of
hazardous waste.


<PAGE>


The main property of the Resort is located within
the boundaries of those lands under the review and
purview of the Coastal Commission of the State of
California and the City of Pismo Beach. The water
and sewer systems are serviced by the City of
Pismo Beach. The Company was subject to state and
federal regulations regarding the Fiscal Year
1996 reconstruction of an outflow structure that
empties into Pismo Creek at the north boundary of
the Resort. Because the Resort is within the
wetlands area, the California Coastal Commission
required permits for repair and construction to be
reviewed by the following agencies:  City of Pismo
Beach, State Lands Commission, Regional Water
Quality Board, State of California, California
Department of Fish and Game, State Department of
Parks and Recreation and the Army Corps of
Engineers. The requirement for these permits
involved the diversion of capital from operations,
but did not increase cost of debt financing.

EMPLOYEES
As of September 30, 2000, the Company employed
approximately 44 people with 22 of these on a part
time basis and 22 on full-time basis. Due to the
seasonal nature of the business, additional staff
is needed during peak periods and fewer during the
off-season. Staffing levels during the fiscal year
ranged from approximately 38 employees to 45
employees. Management considers its labor
relations to be good.

ADDITIONAL INFORMATION
Beginning October 1, 1994, site rental rates at
the Resort were increased to range from $22 - $26
per day during the off-season and $32 - $36 per
day during prime time. Rates have remained at this
level and were not increased for Fiscal Year 2000.
However, following a local comparative rate study,
the Board voted to increase selected daily rates
effective January 1, 2001. These new rates will
range from $26 - $29 per day during the off season
and $33 - $37 per day during prime time. It is
anticipated the proposed rates will continue to
market site usage at its highest value and not
negatively impact the Company's ability to capture
an optimum market share.

During the May 1998 meeting, the Board elected to
increase RV storage and towing rates, to be
effective October 1, 1998. The rates were
increased from $30 per unit and $1 per foot over
28 feet to $33 per unit and $1.25 per foot over 28
feet. The towing and set-up fees went from $11 to
$12.50. The rate increase was a result of
increased operational expenses and new prices
remain within the range of local competition.

On December 31, 1998, the Company closed escrow on
a parcel of property to be developed as an
additional RV storage facility. With existing
storage operating at full capacity and
anticipating continued demand for this service,
the Company purchased 5.8 acres in Oceano,
California. Construction has been completed and
upon receiving County approval on October 14,
1999, the Company began accepting new storage
customers.

ITEM 2     DESCRIPTION OF PROPERTIES

The Company's principal asset consists of the
Resort which is located at 165 South Dolliver
Street in Pismo Beach, California. The Resort
is built on a 26-acre site and includes 400
campsites with full hookups and nearby restrooms
with showers and common facilities, such as a
video arcade, recreation hall, general store,
swimming pool, Laundromat, and three playgrounds.


<PAGE>


In 1980 the Company purchased a 2.2 acre parcel of
real property located at 2250 22nd Street, Oceano,
California, at a price of $66,564. The property is
being used by the Company as a storage facility
for recreational vehicles. The storage capacity of
this lot is approximately 114 units.

In 1981 the Company exercised an option and
purchased a 3.5 acre parcel located at 300 South
Dolliver Street, Pismo Beach, California, at a
price of $300,000. The property, which previously
had been leased by the Company, is used primarily
as a recreational vehicle storage yard. The
storage capacity of this lot is approximately 223
units.

In 1988 the Company purchased approximately 0.8
acres of property at 180 South Dolliver Street,
Pismo Beach, California, across the street from
the main property, consisting of a large building
with a storefront and one large maintenance bay in
the rear. Also, on the property is a smaller
garage-type building with three parking stalls.
The Company enlarged its recreational vehicle
repair operation, added RV storage for
approximately eleven units and developed the
storefront into a RV parts store. The property was
purchased for $345,000, of which $300,000 was
financed and paid in full during Fiscal Year 1997.

On December 31, 1998, the Company closed escrow on
a parcel of property to be developed as an
additional RV storage facility. The 5.8 acre
property is located in Oceano adjacent to existing
Company RV storage. On October 14, 1999,
construction was completed and the Company
received County approval to occupy the premises.
The property was purchased for $495,000, of which
$395,000 was financed. Development cost amounted
to $195,723 and was allocated from operational
cash flow.

There is no deferred maintenance on any of the
Resort's facilities. The Company's facilities are
in good condition and adequate to meet the needs
of the shareholder users as well as the public
users. The Company continues to develop sufficient
revenue from general public sites sales to support
a continued positive maintenance program and to
meet the demands of shareholders use of free
sites.

The Resort, RV Repair Shop and Parts Store and
three storage facilities constitute substantially
all the Company's property, and are owned in fee.
Two storage lots and beach access used by the
shareholders and general public visitors are
leased by the Company pursuant to the herein below
described leases.


1. TRAILER STORAGE YARDS. In 1986 the Company
leased a parcel of land 100 feet wide by 1,600
feet long from the Union Pacific Railroad Corp.
The property is being used by the Company as a
storage facility for recreational vehicles.
Capital improvements in the amount of $40,000 were
made to this property, which provides storage for
approximately 183 units. The property was leased
for $950 per month the first year, $1,400 per
month for the second year, with continuing years
tied to the "CPI" Index, or Fair Market Value of
the property according to the lease agreement.
During Fiscal Year 2000, lease payments were made
in the amount of $37,123, Fiscal Year 2001 lease
payments will be $37,893, and Fiscal Year 2002
lease payments will be $37,893 plus applicable
changes in index or valuation.


<PAGE>


In 1991 the Company developed a lease for a
five-acre RV storage lot at the Oceano Airport
clear zone as storage for approximately 337 RV's.
This lot was developed to replace a 100-unit
storage lot that was closed when the lease was not
renewed. The original lease on the storage lot
was for five years with an additional five-year
option which has been executed. Construction was
completed in January 1992 and capital improvements
in the amount of $330,768 were made to this
property of which $300,000 was financed and paid
in full during Fiscal 1997.

Lease payments for the first year of control and
occupancy area were $1,500 per month, $2,000 for
the second year and continuing years are tied to
the "CPI" index. During Fiscal Year 2000, lease
payments were made in the amount of $29,664,
Fiscal Year 2001 lease payments will be $29,664
plus applicable changes in index, and Fiscal Year
2002 lease payments will be $29,664 plus index
changes.

2. AMENDMENT NO. 4 TO CONTRACT PISMO STATE BEACH,
LOCATED IN SAN LUIS OBISPO COUNTY, PISMO COAST
VILLAGE, INC., DATED JULY 1976. (Pertaining to the
Boardwalk Concession Contract for construction and
maintenance of three boardwalks to the beach for
pedestrians at Pismo State Beach and to provide
for continued access through the sand dunes to the
State Beach abutting the Resort.)  This contract
is between the Company and the State of California
Department of Parks and has been renewed annually
since June 30, 1984. The contract was originally
assigned by the former owner to the Company by an
assignment, dated December 1, 1975. Continued
ocean access is granted annually by payment of a
license fee of $400.


The Resort leases out areas to other companies to
insure that the best service and equipment are
available for guest use. These areas are leased
from the Company pursuant to the herein below
described leases.

1. RECREATIONAL ARCADE AGREEMENT WITH COIN
AMUSEMENTS, INC. This agreement is dated November
1, 1999 and pursuant to this agreement the Company
granted Coin Amusements, Inc., the concession to
operate various coin-operated game units at the
Resort. The one year term expired on October 31,
2000. This agreement has been subsequently renewed
for a one year term ending October 31, 2001;
continued renewal is expected without significant
impact.

2. WEB SERVICE COMPANY, GOLETA, CA. The five-year
lease expired on July 22, 1997, and was reissued
for a five-year period which will expire on July
22, 2002, and grants to Web Service Company the
right to place and service coin-operated laundry
machines at the Resort on a 50-50 basis for all
revenues derived from their use. On April 23,
1998, Web replaced all 18 washers and 18 dryers
with new equipment. Continued renewal is expected
without significant impact.


<PAGE>


ITEM 3  LEGAL PROCEEDINGS

The Company or its property is not a party to any
pending legal proceedings.


ITEM 4  SUBMISSION OF MATTERS TO VOTE OF
SHAREHOLDERS

Paragraph inapplicable

PART II

ITEM 5  MARKET FOR COMMON STOCK AND RELATED
SHAREHOLDER MATTERS

(a.)  There is no market for the Company's common
stock, and there are only limited or sporadic
transactions in its stock. Mr. Kenneth L.
McFarlen, a licensed broker/dealer, handled sales
of the Company shares as Central Coast
Investments. The last transaction the Company is
aware of occurred on September 18, 2000, at a
price of $9,500 for one share conveyed. This price
was used for computation of aggregate market value
of Company stock on page 2 of this Report.

(b.) The approximate number of holders of the
Company's common stock on September 30, 2000 was:
1,540.

(c.)  The Company has paid no dividends since it
was organized in 1975, and although there is no
legal restriction impairing the right of the
Company to pay dividends, the Company does not
intend to pay dividends in the foreseeable future.
The Company selects to invest its available
working capital to enhance the facilities at the
Resort.

(d.)  Mr. McFarlen, the Company's on-site broker,
terminated his agreement with Pismo Coast Village,
Inc., by submitting a written notice dated August
1, 2000. The Company has entered into an agreement
with Ms. Jeanne Sousa, a California Corporations
Licensed Broker. Ms. Sousa will lease a 200 square
foot building at the Resort, from which she will
conduct sales activities in the Company's stock.
The term of the lease will be three years
commencing on January 1, 2001. Termination or
cancellation may be made by either Lessor or
Lessee by giving the other party sixty (60) days
written notice.


<PAGE>


ITEM 6  MANAGEMENT'S DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULT OF OPERATIONS

Pismo Coast Village, Inc., operates as a 400 space
recreational vehicle resort. The Corporation
includes additional business operations to
provide its users with a full range of services
expected of a recreational resort. These services
include a store, video arcade, Laundromat,
recreational vehicle repair, RV parts shop and an
RV storage operation.

The Corporation is authorized to issue 1,800
shares, of one class, all with equal voting rights
and all being without par value. Transfers of
shares are restricted by Company bylaws. One such
restriction is that transferees must acquire
shares with intent to hold the same for the
purpose of enjoying camping rights and other
benefits to which a shareholder is entitled. Each
share of stock is intended to provide the
shareholder with the opportunity for 45 days of
free site use per year. However, if the
Corporation is unable to generate sufficient
funds from the public, the Company may be required
to charge shareholders for services.

Management is charged with the task of developing
sufficient funds to operate the Resort through
site sales to general public guests by allocating
a minimum of 175 sites to general public use and
allocating a maximum of 225 sites for shareholder
free use. The other service centers are expected
to generate sufficient revenue to support
themselves and/or produce a profit.

Certain information included herein contains
statements that may be considered forward-looking
statements within the meaning of Section 21E of
the Securities Exchange Act of 1934, such as
statements relating to anticipated expenses,
capital spending and financing sources. Such
forward-looking information involves important
risks and uncertainties that could significantly
affect anticipated results in the future and,
accordingly, such results may differ from those
expressed in any forward-looking statements made
herein. These risks and uncertainties include, but
are not limited to, those relating to competitive
industry conditions, California tourism and
weather conditions, dependence on existing
management, leverage and debt service, the
regulation of the recreational vehicle industry,
domestic or global economic conditions and changes
in federal or state tax laws or the administration
of such laws.

CURRENT OPERATING PLANS
The Board of Directors continues its previously
established policy by adopting a stringent,
conservative budget for Fiscal Year 2001, which
projects a positive cash flow of approximately
$680,461 from operations. While the Company
projects a positive cash flow, this cannot be
assured for Fiscal Year 2001. Capital expenditures
planned for 2001 include the continued enhancement
of RV sites and services, road improvements, the
construction of an additional restroom, the
renovation of an existing restroom, and resort
equipment. These investments are projected to be
approximately $374,500, some of which can be
deferred, if necessary. These proposed capital
improvements will be funded from cash from
operations, from existing working capital, and, if
necessary, from financing obtained by the Company.
Thus, budgeted cash flow for the year is expected
to be within the Company's capabilities based on
its present working capital position.


<PAGE>


FINANCIAL CONDITION
The business of the Company is seasonal and is
concentrated on prime days of the year which are
defined as follows:  President's Day Weekend,
Easter week, Memorial Day Weekend, summer vacation
months, Labor Day, Thanksgiving Weekend, and
Christmas vacation. There are no known trends
which affect business or affect revenue.

The Company develops its income from two sources:
(a) Resort Operations, consisting of revenues
generated from RV site rentals, from RV storage
space operations, and from lease revenues from
Laundromat, and arcade operations by third party
lessees; and (b) Retail Operations, consisting of
revenues from general store operations and from RV
parts and service operations.

A major impact on the financial condition and
priorities concerning capital expenditures was the
Company's reconstruction of the storm water
drainage outfall caused by storm damage suffered
March 10, 1995. The $422,719 cost of this project
required the review and modification to the
Company's business and operational plans during
the fiscal year ending 1996. This impact included
the delay of proposed capital expenditures, such
as deferring site enhancement on the north side of
the Resort, which was completed in Fiscal Year
1997, and deferring the improvements to the
Maintenance, Accounting, and Reservations
facilities to Fiscal Year 1999.

The Company completed its plan to aggressively
reduce debt by eliminating, by early payoff, all
outstanding loan balances in September 1997. With
the purchase of a new storage property in December
1998, the Company obtained financing from a local
institution. As a result of the July 2000 Board
meeting, this note was paid off to eliminate any
current outstanding loan balances. The Company
continues its policy to adopt conservative budgets
with managed capital outlays.

The Company has arranged a $500,000 line of credit
that has not been drawn on to date. The Company
has no other liabilities to creditors other than
current accounts payable arising from its normal
day-to-day operations and advance Resort rental
reservation deposits, none of which are in
arrears.

LIQUIDITY
The Company's policy is to use its ability to
generate operating cash flow to meet its expected
future needs for internal growth. The Company has
continued to maintain sufficient cash so as to not
require the use of a short-term line of credit
during the off-season period, and the Company
expects to be able to do so (although no assurance
of continued cash flow can be given).

Net cash provided by operating activities totaled
$563,937 in 2000, compared to $701,398 in 1999.
These fluctuations are primarily a result of
increased revenues due to higher occupancy, early
payoff of long-term debt, pricing concepts, and of
deferring selected capital projects.

The capital projects that were deferred will not
detrimentally affect current business and were
moved to future years. Future capital expenditures
are expected to be funded through normal operating
cash flows and, if necessary, supplemented with
outside financing.


<PAGE>


During Fiscal Year 2000, cash investments of
$154,830 included road paving, isolation of part
of the resort's irrigation system from the
domestic water system, modification of a new
towing truck, grading of RV storage lot C, and
engineering costs for planned improvements.
During 1999, cash investments of $525,726 included
the purchase and development of a new RV storage
facility, renovation of the
Accounting/Reservations building, construction of
a new maintenance building, a new trailer-towing
vehicle, truck, paving, and computer equipment to
meet Year 2000 compliance.


The Company has continued to maintain sufficient
cash from operations  to not require the addition
of long-term debt during 1999 or 2000. With the
possibility of requiring additional funds for
planned capital improvements and winter season,
the Company established a $500,000 Line of Credit
to insure funds will be available if required. In
anticipation of future large projects, the Board
of Directors has instructed management to build
operational cash balances.

Fiscal Year 2000's current ratio (current assets
to current liabilities) of 2.50 increased from
Fiscal Year 1999's current ratio of 2.38. The
increase in current ratio is the result of a
stronger cash position due to reserves for capital
expenditures, the reduction of accrued
liabilities, and prepayment of income taxes at
year end.

Working Capital increased to $696,551 at the end
of Fiscal Year 2000 compared with $676,766 at year
end Fiscal Year 1999. This increase is a result of
eliminating all long-term debt, anticipating
planned capital improvements, development of cash
reserves, and deferment of capital projects that
have not detrimentally affected current
operations.

CAPITAL RESOURCES AND PLANNED EXPENDITURES
The Company plans capital expenditures of $374,500
in Fiscal Year 2001 to further enhance the resort
facilities and services, improve roads,
construct an additional restroom, and renovate an
existing restroom, modify a towing truck, improve
campsites and purchase a new maintenance truck.
Funding for these projects is expected to be
from normal operating cash flows and, if
necessary, supplemented with outside financing.
These capital expenditures are expected to
increase the Resort's value to its shareholders
and the general public.


<PAGE>


RESULTS OF OPERATIONS

YEAR TO YEAR COMPARISON

INCOME: Increased over the prior fiscal year ended
September 30, 1999, by $122,736 or 4.1%.

<TABLE>
INCOME BY SEGMENT
<CAPTION>
                            2000        1999
<S>                         <C>         <C>
OCCUPANCY
% of Shareholder Site Use   21.0%       21.3%
% of Paid Site Rental       50.9%       48.0%
% Total Site Occupancy      72.0%       69.8%
% of Storage Rental*        76.0%       99.9%
Average Paid Site          $26.21      $27.19
*New Storage Lot Opened 10/1999

RESORT OPERATIONS
Site Rental            $1,948,055  $1,907,226
Storage Operations       $446,222    $400,840
Support Operations       $122,153    $124,243
Total                  $2,516,430  $2,432,309

RETAIL OPERATIONS
Store                    $384,331    $328,948
RV Repair/Parts store    $173,431    $202,277
Total                    $557,762    $531,225

INTEREST INCOME           $36,956     $24,878

TOTAL INCOME           $3,111,148  $2,988,412
</TABLE>



<PAGE>


Occupancy rates on the above table are calculated
based on the quantity occupied as compared to the
total sites available for occupancy (i.e.,
total occupied to number of total available).
Average paid site is based on site revenue and
paid sites. Resort support operations include
revenues received from the arcade, Laundromat,
recreational activities, and other less
significant sources.

2000 COMPARED WITH 1999
Resort operations income increased $84,121, or
3.5%, due to a 5.4% increase in paid site
occupancy. RV storage revenue increased $45,382,
or 11.3%, over the previous year due to additional
storage customers and increased trailer spotting
activity. Paid site occupancy was positive
throughout Fiscal Year 2000 due to mild weather
and an ongoing upward trend of outdoor recreation
and camping.

Retail operations income increased $26,537, or
5.0%, due to a 16.8% increase in General Store
sales. These increases are a result of
management's continuing program to increase RV
Shop sales, and in the General Store from
increased occupancy and efforts to stock more
appropriate items, more effectively merchandise,
and pay greater attention to customer service.

Interest Income increased 48.5% as a result of
carrying higher cash balances through most of the
year. These increased cash balances are due to the
Company anticipating capital expenditures to
improve the Resort's facilities and services, and
the increase in advanced deposits.

Operating Expenses increased $101,346, or 5.20%,
as a result of payroll, repairs and maintenance,
advertising, contracted services, and equipment
expense. Maintaining the conservative approach,
most expense items were managed well below Plan
and in many categories below the previous year.
The Board of Directors have directed management to
continue maintenance projects as needed to provide
a first class resort for campers using
recreational vehicles.

Depreciation Expense decreased 0.7% due to the age
or elimination of the assets deemed to no longer
have a useful life.

Interest Expense decreased from $25,364 in 1999 to
$24,247 in 2000 due to early payoff of the note
payable for the purchase of the RV storage
property.

Loss on Disposal of Fixed Assets for 2000 of $768
represents the reclassification of certain assets
determined no longer to have a useful life and
that was disposed of.

Income before provision for taxes on income of
$420,983 is reflective of the Company's current
pricing policies and continuing efforts to
maximize resort services and value. This income
exceeded management's plan of operations for
Fiscal Year 2000.

Net income increased by $41,502, or 19.4%,
primarily due to a significant increase in income
and a reduction in the loss on disposal of fixed
assets and depreciation. This is the eleventh
consecutive year of positive net income for the
Company.


<PAGE>


INFLATION has not had a significant impact on our
profit position. Company has increased rates which
have more than compensated for the rate of
inflation.

FUTURE OPERATING RESULTS could be unfavorably
impacted to the extent that changing prices result
in lower discretionary income for customers and/or
increased transportation costs to the Resort. In
addition, increasing prices affects operations
and liquidity by raising the replacement cost of
property and equipment.




ITEM 7  FINANCIAL STATEMENTS


<PAGE>


INDEPENDENT AUDITORS' REPORT


Board of Directors
Pismo Coast Village, Inc.
Pismo Beach, California 93449

We have audited the accompanying balance sheets of
Pismo Coast Village, Inc. as of September 30, 2000
and 1999, and the related statements of operations
and retained earnings and cash flows for the years
then ended. These financial statements are the
responsibility of the Company's management. Our
responsibility is to express an opinion on these
financial statements based on our audits.

We conducted our audits in accordance with
generally accepted auditing standards. Those
standards require that we plan and perform the
audits to obtain reasonable assurance about
whether the financial statements are free of
material misstatement. An audit includes
examining, on a test basis, evidence supporting
the amounts and disclosures in the financial
statements. An audit also includes assessing the
accounting principles used and significant
estimates made by management, as well as
evaluating the overall financial statement
presentation. We believe that our audits provide a
reasonable basis for our opinion.

In our opinion, the financial statements referred
to above present fairly, in all material respects,
the financial position of Pismo Coast Village,
Inc. as of September 30, 2000 and 1999, and the
results of its operations and its cash flows for
the years then ended, in conformity with generally
accepted accounting principles.

Glenn, Burdette, Phillips & Bryson
Certified Public Accountants
A Professional Corporation

October 19, 2000
<PAGE>


<TABLE>
PISMO COAST VILLAGE, INC.
BALANCE SHEETS
SEPTEMBER 30, 2000 AND 1999
<CAPTION>
                                    2000         1999
ASSETS
<S>                                 <C>          <C>
Current Assets
Cash & Cash Equivalents             $1,021,535   $1,007,428
Accounts Receivable                      7,237       15,232
Inventory                               71,766       66,678
Current Deferred Taxes                  30,000       30,000
Prepaid Expenses                        31,557       48,976
Total Current Assets                 1,162,095    1,168,314

Pismo Coast Village Recreational
Vehicle Resort and Related
Assets - net                         5,748,008    5,903,215

Other Assets                             1,616        2,211
Total Assets                        $6,911,719   $7,073,740

LIABILITIES AND STOCKHOLDERS' EQUITY

Current Liabilities
Accounts Payable & Accrued
Liabilities                            $71,157      $98,426
Accrued Salaries & Vacation             97,534       61,966
Rental Deposits                        289,853      243,156
Income Taxes Payable                     7,000       88,000
Total Current Liabilities             $465,544     $491,548

Long-term Liabilities
Long-term Deferred Taxes                95,000       91,000
Long-term Debt                                     $395,000
Total Liabilities                      560,544      977,548

Stockholders' Equity
Common Stock, No Par Value, Issued
& Outstanding, 1800 Shares           5,647,708    5,647,708
Retained Earnings                      703,467      448,484
Total Stockholders' Equity           6,351,175    6,096,192

Total Liabilities &
Stockholders' Equity                $6,911,719   $7,073,740
</TABLE>


The accompanying notes are an integral part of
these financial statements.


<PAGE>


<TABLE>
PISMO COAST VILLAGE, INC.
STATEMENTS OF OPERATIONS AND RETAINED EARNINGS
YEARS ENDED SEPTEMBER 30, 2000 AND 1999
<CAPTION>
                                  2000           1999
<S>                               <C>            <C>
Income
Resort Operations                 $2,516,430     $2,432,309
Retail Operations                    557,762        531,225
Interest Income                       36,956         24,878
Total Income                       3,111,148      2,988,412

Costs & Expenses
Operating Expenses                 2,034,677      1,933,331
Cost of Goods Sold                   321,204        303,138
Depreciation                         309,269        311,440
Interest Expense                      24,247         25,364
Loss on Disposal of Fixed Assets         768         43,658
Total Costs & Expenses             2,690,165      2,616,931

Income Before Provision
for Taxes on Income                  420,983        371,481

Provision for Taxes on Income        166,000        158,000

Net Income                           254,983        213,481

Retained Earnings
Beginning of Year                    448,484        235,003

End of Year                         $703,467       $448,484

Earnings per Share from
Continuing Operations                $141.66        $118.60

Earning per Share from
Net Income                           $141.66        $118.60
</TABLE>

The accompanying notes are an integral part of
these financial statements.



<PAGE>


<TABLE>
PISMO COAST VILLAGE, INC.
STATEMENTS OF CASH FLOWS
YEARS ENDED SEPTEMBER 30, 2000 AND 1999
<CAPTION>
                                    2000           1999
<S>                                 <C>            <C>
Cash Flows from Operating Activities
Net Income                          $254,983       $213,481
Adjustments to Reconcile Net Income to Net
Cash Provided by Operating Activities
Depreciation                         309,269        311,440
Deferred Income Tax                    4,000          9,000
Loss on Disposal of Assets               768         43,658
Decrease (Increase) in Accounts
Receivable                             7,995         (4,737)
Decrease (Increase) in Inventory       (5088)            45
Decrease (Increase) in
Prepaid Expenses                      17,419           (790)
Decrease in Other Assets                 595         66,413
Decrease in Accounts Payable &
Accrued Liabilities                  (27,269)       (24,989)
Increase in Accrued Salaries
& Vacation                            35,568         16,426
Increase in Rental Deposits           46,697         28,451
Increase (Decrease) in
Income Taxes Payable                 (81,000)        43,000
Total Adjustments                    308,954        487,917
Net Cash Provided by Operating
Activities                           563,937        701,398

Cash Flows from Investing Activities
Proceeds from Sale of Assets             135          4,750
Capital Expenditures                (154,965)      (530,476)
Net Cash Used in Investing
Activities                          (154,830)      (525,726)

Cash Flows from Financing Activities
Principle Payments on Loan Payable  (395,000)
Net Cash Used in Financing
Activities                          (395,000)




Net Increase in Cash &
Cash Equivalents                      14,107        175,672

Cash & Cash Equivalents,
Beginning of Year                  1,007,428        831,756

Cash & Cash Equivalents,
End of Year                       $1,021,535     $1,007,428

Schedule of Payments of Interest & Taxes
Payments for Interest                $24,247        $25,364
Payments for Income Tax             $155,000        $60,440
</TABLE>

Schedule of Noncash Investing & Financing
Activities During the year ended September 30,
1999, the Company purchased real property with
cash and a note payable of $395,000.

The accompanying notes are an integral part of
these financial statements.


<PAGE>


PISMO COAST VILLAGE, INC.
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2000 AND 1999

Note 1 - Summary of Significant Accounting
Policies

A. Nature of Business
Pismo Coast Village, Inc. (Company) is a
recreational vehicle camping resort. Its
business is seasonal in nature with the fourth
quarter, the summer, being its busiest and most
profitable.

B. Inventory
Inventory has been valued at the lower of cost or
market on a first-in, first-out basis.

C. Depreciation and Amortization
Depreciation of property and equipment is computed
using an accelerated method based on the cost of
the assets, less allowance for salvage value,
where appropriate. Depreciation rates are based
upon the following estimated useful lives:


Building and park improvements    5 to 40 years
Furniture, fixtures, equipment and
 leasehold improvements           5 to 31.5 years
Transportation equipment          5 to 10 years

D. Earnings Per Share
The earnings per share are based on the 1,800
shares issued and outstanding.

E. Cash and Cash Equivalents
For purposes of the statements of cash flows, the
Company considers all highly liquid investments
including certificates of deposit with a
maturity of three months or less when purchased,
to be cash equivalents.

F. Use of Estimates
The preparation of financial statements in
conformity with generally accepted accounting
principles requires management to make
estimates and assumptions that affect certain
reported amounts and disclosures. Accordingly,
actual results could differ from those estimates.

G. Revenue and Cost Recognition
The Company's revenue is recognized on the accrual
basis as earned based on the date of stay.
Expenditures are recorded on the accrual basis
whereby expenses are recorded when incurred,
rather than when paid.


<PAGE>


PISMO COAST VILLAGE, INC.
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2000 AND 1999
PAGE 2


Note 1 - Summary of Significant Accounting
Policies (Continued)

H. Advertising
The Company follows the policy of charging the
costs of advertising to expense as incurred.
Advertising expense was $54,204 and $23,538 for
the years ended September 30, 2000 and 1999,
respectively.

Note 2 - Pismo Coast Village Recreational Vehicle
Resort and Related Assets

At September 30, 2000 and 1999, property and
equipment, which are recorded at cost, included
the following:

<TABLE>
<CAPTION>

                               2000              1999
<S>                            <C>               <C>
Land                           $3,384,420        $3,208,618
Building & park improvements    5,823,728         5,764,775
Furniture, fixtures, equipment
& leasehold improvements          660,958           649,620
Transportation equipment          231,707           228,338
Construction in progress           20,192           144,387
                              $10,121,005        $9,995,738
Less: accumulated depreciation (4,372,997)       (4,092,523)
                               $5,748,008        $5,903,215
</TABLE>


Note 3 - Line of Credit
The Company has a revolving line of credit for
$500,000. The interest rate is variable at one
percent over prime, with an initial rate of 10.50
percent expiring March 2001. The purpose of the
loan is to augment operating cash needs in
off-season months. There were no outstanding
amounts as of September 30, 2000 or 1999.

Note 4 - Common Stock
Each share of stock is intended to provide the
shareholder with a maximum free use of the park
for 45 days per year. If the Company is unable
to generate sufficient funds from the public,
the Company may be required to charge
shareholders for services.

A shareholder is entitled to a pro rata share of
any dividends as well as a pro rata share of
the assets of the Company in the event of its
liquidation or sale. The shares are personal
property and do not constitute an interest
in real property. The ownership of a share
does not entitle the owner to any interest in
any particular site or camping spot.


<PAGE>


PISMO COAST VILLAGE, INC.
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2000 AND 1999
PAGE 3


Note 5 - Income Taxes
The provision for income taxes consists of the
following components:
<TABLE>
<CAPTION>
                                   2000            1999
<S>                                <C>             <C>
Current:
Federal                            $119,000        $117,000
State                                36,000          32,000
                                    155,000         149,000

Deferred:
Federal                              10,000           9,000
State                                 1,000
                                   $166,000        $158,000
</TABLE>


The deferred tax assets (liabilities) are
comprised of the following:
<TABLE>
<CAPTION>
                  2000                     1999
<S>         <C>         <C>           <C>         <C>
            Current     Long-term     Current     Long-term
Deferred Tax Assets:
Federal     $28,000     $             $27,000     $
State         2,000                     3,000
Deferred Tax Liabilities
Federal                  74,000                    70,000
State                    21,000                    21,000
            $30,000     $95,000       $30,000     $91,000
</TABLE>

The above deferred tax assets (liabilities)
consist of the following temporary differences:
<TABLE>
<CAPTION>
                                 2000             1999
<S>                              <C>              <C>
Depreciation                     $(95,000)        $(91,000)
Total gross deferred tax
liabilities                       (95,000)         (91,000)

Vacation accrual                   12,000           13,000
Miscellaneous                      18,000           17,000
Total gross deferred tax assets    30,000           30,000
                                 $(65,000)        $(61,000)
</TABLE>


<PAGE>


PISMO COAST VILLAGE, INC.
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2000 AND 1999
PAGE 4


Note 5 - Income Taxes (Continued)
The effective income tax rate varies from the
statutory federal income tax rate as follows:

<TABLE>
<CAPTION>
                                        2000        1999
<S>                                     <C>         <C>
Statutory federal income tax rate       34.0%       34.0%
Increase (decrease)
State income taxes, net of federal
benefit                                 5.8          5.7
Effective rate change on deferred
taxes                                   1.5
Miscellaneous                          (1.7)         2.8
Effective income tax rate              39.6%        42.5%
</TABLE>


Note 6 - Operating Expenses
Operating expenses for the years ended September
30, 2000 and 1999, consisted of the following:

<TABLE>
<CAPTION>
                                   2000            1999
<S>                                <C>             <C>
Direct Labor                       $587,279        $548,506
Administrative Salaries             214,048         207,575
Insurance                           133,639         147,338
Payroll Tax Expense                  65,247          66,347
Employee Travel & Training           18,592          12,950
Property Taxes                       53,097          51,166
Taxes and Licenses                    6,686           5,809
Corporation Expense                  45,930          47,293
Advertising & Promotion              54,204          23,538
Telephone                            28,640          28,126
Security                             76,181          76,436
Office Supplies & Expense            45,448          58,052
Custodial Supplies                    7,985           7,278
Recreational Supplies                10,831           3,969
Professional Supplies                27,454          36,657
Retail Operating Supplies             2,914           6,509
Repairs & Maintenance                97,471          84,896
Contract Services                   101,298         104,886
Equipment Lease                       1,975           3,256
Utilities                           249,306         251,833
Auto & Truck Expense                 40,021          28,864
Rent - Storage Lots                  66,880          62,899
Bad Debts                               234              80
Service Charges                      42,874          38,703
Uniforms                             12,873           6,287
Miscellaneous                        43,570          14,078
Total Operating Expenses         $2,034,677      $1,933,331
</TABLE>


<PAGE>


PISMO COAST VILLAGE, INC.
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER 30, 2000 AND 1999
PAGE 5


Note 7 - Operating Leases
The Company leases two pieces of property to use
as storage lots. One is leased under a cancelable
month-to-month lease. The other was renewed
effective January 1, 1997, for five years with an
option to extend for an additional five years.
Monthly lease payments are currently $2,326 and
are increased annually based on the Consumer
Price Index. Future minimum lease payments under
the second lease and an obligation to lease
equipment are as follows:


Year Ended September 30,
2001                              $27,912
2002                               20,934
Total                             $48,846

Rent expense under these agreements was $65,708
and $66,155 for the year ended September 30, 2000
and 1999, respectively.

Note 8 - Employee Retirement Plans
The Company is the sponsor of a 401(k)
profit-sharing pension plan, which covers
substantially all full-time employees.
Employer contributions are discretionary
and are determined on an annual basis. The
contribution to the pension plan for the year
ended September 30, 2000 and 1999, was $11,700
and $9,095 respectively.


<PAGE>


GLENN, BURDETTE, PHILLIPS & BRYSON
CERTIFIED PUBLIC ACCOUNTANTS
1150 PALM STREET
SAN LUIS OBISPO, CA 93401


INDEPENDENT AUDITORS' REPORT
ON ADDITIONAL INFORMATION


Board of Directors
Pismo Coast Village, Inc.
Pismo Beach, California 93449

Our report on our audits of the basic financial
statements of Pismo Coast Village, Inc. as of
September 30, 2000 and 1999, appears on page 3.
Those audits were made for the purpose of forming
an opinion on the basic financial statements
taken as a whole. The statements of operations
(unaudited) for the three months ended September
30, 2000 and 1999, are presented for purposes of
additional analysis and are not a required part
of the basic financial statements. Such
information has not been subjected to the
auditing procedures applied in the audits of the
basic financial statements, and, accordingly we
express no opinion on it.


Glenn, Burdette, Phillips & Bryson
Certified Public Accountants
A Professional Corporation

October 19, 2000


<PAGE>


<TABLE>
PISMO COAST VILLAGE, INC.
STATEMENTS OF OPERATIONS (UNAUDITED)
THREE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999

<CAPTION>
                                   2000            1999
<S>                                <C>             <C>
Income
Resort Operations                  $962,154        $954,502
Retail Operations                   206,586         200,982
Interest Income                      13,660           7,462
Total Income                      1,182,400       1,162,946

Cost & Expenses
Operating Expenses                  595,130         577,722
Cost of Goods Sold                  115,210         116,897
Depreciation                         78,000          79,690
Interest Expense                        917           8,583
Loss on Disposal of Fixed Assets        903          42,249
Total Cost & Expenses               790,160         825,141

Income Before Provision for Taxes   392,240         337,805

Provision for Taxes on Income        41,000         133,000

Net Income                         $251,240        $204,805

Earnings per Share from
Continuing Operations               $139.58         $113.78

Earnings per Share from
Net Income                          $139.58         $113.78
</TABLE>

<PAGE>


ITEM 8  CHANGES IN AND DISAGREEMENT WITH
ACCOUNTANTS ON ACCOUNTING AND FINANCIAL
DISCLOSURE

Inapplicable.

PART III

ITEM 9   DIRECTORS, EXECUTIVE OFFICERS, AND
CONTROL PERSONS; COMPLIANCE WITH SECTION 16(a)
OF THE EXCHANGE ACT

(a) The Company's Directors were chosen at the
Shareholder's Annual Meeting on January 15,
2000. Director Donald Bianchi passed away in
August 2000, and by unanimous decision of the
Board of Directors at their meeting held
September 16, 2000, Mr. Bianchi's seat is to
remain unfilled until the next election at the
Annual Shareholders' Meeting set for January 20,
2001. The Directors serve for one year, or until
their successors are elected. The names, ages,
background and other information concerning the
Directors, including other offices held by the
Directors with the Company, are set forth below.

(b)  The following is a list of the Company's
Directors and Executive Officers setting forth
their functions and experience. There is no
familial relationship between the Directors nor
between the Directors and the Officers. There is
no understanding or agreement under which the
Directors hold office.

HOWARD ALLARD, Director
Howard Allard, age 75, resides at 5161 Diablo
Drive, Sacramento, California  95842. He has a
Master's degree in education administration
from California State University, Sacramento. He
was an elementary school principal in the Rio
Linda Union School District for 29 years prior
to retirement in 1985. He has been a partner
since 1978 in Allard Enterprises which maintains
rental properties, and he has also been a partner
since 1982 in Allard Limousine. Mr. Allard has
served on the Board for 20 years, including
three years as President, two years as Secretary,
and one year as Vice President - Administration.


EMILY BARTON, Director
Emily Barton is 68 years old. She resides at 4008
Glenbrook Avenue, Bakersfield, California  93306.
She holds an inactive B-1 California Contractors
License and a supplemental Swimming Pool License
C-53. Since 1967 Ms. Barton has been and
continues to be active in the rental business.
Her specialty is buying foreclosures. She was
active in the building business for many years and
is still active in the remodeling and
rehabilitation of her properties. She holds an
inactive life and disability insurance license.
She is past president of B'nai B'rith Women
Bakersfield Chapter #69. Under her leadership,
B'nai B'rith Women received many community service
awards. She has served on the Board for eight
years.


<PAGE>


ALBERT BROWN, Director
Albert Brown is 77 years old. He resides at 22718
Lone Eagle Road, Apple Valley, California  92308.
He was employed at Hughes Aircraft for 20 years,
from 1945 to 1965, TRW Systems for 3.5 years, from
1965 to 1968, and Rohr Industry, Inc., for 11.5
years, from 1968 until retirement in 1979. He
worked his way up from being an assembler to a
senior industrial engineer, reporting directly to
the manager of industrial engineering. He has
completed extensive continued education in the
field of industrial engineering at U.S.C. He is an
instructor with the A.A.R.P. 55-Alive Senior
Driving Course. He has served on the Board of
Directors for 15 years, including two years as
Vice President - Administration.

HARRY BUCHAKLIAN, Director
Harry Buchaklian is 68 years old. He resides at
1361 E. Ticonderoga Drive, Fresno California
93720. He has a B.A. degree from C.S.U.F. in
industrial arts, and a secondary level teaching
credential in laboratory electronics and small
engine repair. His career has included employment
as an assistant manager with Western Auto Stores,
electronics instructor at Fresno Technical College
and technical supervisor for Sears Roebuck. He
retired from Sears Roebuck in 1994. He has
served on the Board for 16 accumulative years,
including most recently from September 1995 to
present, and served one year as Executive Vice
President.

FRANK DRAKE, Director and Executive Vice President
Frank Drake is 59 years old. He resides at 9511
Birch Creek Court, Bakersfield, California 93312.
Mr. Drake has an A.A. degree from Bakersfield
College, and holds an administration of justice
lifetime vocational teaching credential from
U.C.L.A. Mr. Drake retired after 20 years with the
Kern County Sheriffs Department where he was
commander of detective, administration and jail
facilities. Following his retirement from the
Sheriff's Department in 1988, he was employed
as a safety consultant with State Compensation
Insurance Fund assisting clients in complying with
OSHA and other safety standards. He retired from
this position in December 1995. Mr. Drake has
served on the Board for five years, including one
year as Vice President - Policy, and is currently
serving as Executive Vice President.

NORMAN GOULD, Director
Norman Gould is 81 years old. He resides at 10597
Road 30, Madera, California  93637. He has a B.A.
in education and an M.A. in administration. His
occupation prior to retirement in 1986 was as the
superintendent of schools for Madera County. He
was a member of the board of directors of
Kingsview, Inc., from 1968 to 1980 and held the
positions of vice chairman and chairman of the
board. He is currently on the board of directors
of Valley Teen Ranch, Inc. Mr. Gould is currently
president-elect of the California Retired Teachers
Association, a nonprofit corporation. He has
served on the Board for 23 accumulative years,
including most recently from March 1993 to
present, serving nine years as President, one year
as Treasurer and two years as Secretary.


<PAGE>


R. ELAINE HARRIS, Director
R. Elaine Harris is 62 years old and resides at
3418 El Potrero Lane, Bakersfield, California
93304. She commenced her 31-year career with
Pacific Telephone in the business office and was
facility administrator during the last ten years
prior to her retirement in 1990. Mrs. Harris
thoroughly enjoys having more time to spend with
her grandchildren, and she is looking forward to
serving as a member of the Board of Directors for
Pismo Coast Village. Mrs. Harris has served on the
Board of Directors for one year.

GLENN HICKMAN, Director
Glenn Hickman is 67 years old. He resides at 3584
W. Wathen Avenue, Fresno, California 93711. He has
a B. A. in Business and a secondary teaching
credential from Fresno State University. His
occupation prior to retirement in 1995 was as a
financial analyst and office supervisor for Cal
Resources, a subsidiary of Shell Oil Company. Mr.
Hickman has served on the Board for two years.

EDWARD HINDS, JR., Director and Vice President -
Secretary
Edward (Dee) Hinds, Jr., age 73, resides at 3416
West Magill Avenue, Fresno, California  93711.
Prior to his retirement in 1988, he was employed
for more than 38 years by Bank of America serving
as a branch officer, vice president, manager and
regional credit administrator. He has served on
the Board for 20 years, and is currently serving
an eighth year as Vice President - Secretary.

TERRIS HUGHES, Director
Terris (Terry) Hughes, is 51 years old and resides
at 2426 Sunset, Wasco, California 93280. Mr.
Hughes holds an A.A. degree from Bakersfield
Junior College in police science. He was employed
by Cal Resources LLC for 23 years, from 1973 to
1997, holding the position of senior training
technician for the last 10 years of that time.
Mr. Hughes is currently employed as an internal
consultant for Aera Energy LLC, an oil industry
company formed in 1997 between the Shell Oil and
Mobil Oil Corporations. His duties are to serve as
a behavior-base safety advisor and provide safety
training to Aera Energy LLC employees. Mr. Hughes
has served on the Board for five years.

LARRY KELLER, Director
Larry Keller, age 47, resides at 3807 Mesa Grande,
Bakersfield California 93304. Mr. Keller founded
and operated Nooner Food Service from 1979 until
1992, providing on-site food service of up to
13,000 meals per day at fire camps for the U.S.
Forest Service throughout 11 western states. He
also served as president, vice president and
secretary/treasurer of the Western Forest Fire
Catering Association. Since 1992 Mr. Keller has
been self-employed at Presidio Business Center, a
commercial real estate management company he owns
and manages. Mr. Keller has served on the Board
for five years.


<PAGE>


RONALD NUNLIST, Director
Ronald Nunlist, age 62, resides at 1105 Minter
Avenue, Shafter, California  93263. Mr. Nunlist
was employed in the oil business for many years.
From 1995 to June 1997 he was employed as an
operations foreman by Cal Resources LLC, an oil
industry company owned by Shell Oil Corporation.
Mr. Nunlist was then employed as a logistics
specialist by Aera Energy LLC, an oil industry
company formed between the Shell Oil and Mobil Oil
Corporations from June 1997 until his retirement
in June 1999. He has served on the Board for 15
years, including five years as President.

JERALD PETTIBONE, Director and President
Jerry Pettibone, age 74, resides at 4179 Court
Drive, Santa Cruz, California  95062. He sold and
retired from his company, Pettibone Signs, in
Santa Cruz in October 1988. He started the company
which operated statewide in 1960. Active in trade
associations, he served on the board of directors
of the National Electric Sign Association, and on
the board of directors of the World Sign
Association, serving as national president in
1985-1986. He served on the board of directors
of the California Electric Sign Association for 22
years and was elected a director emeritus. Also
active in Rotary Club, he is a charter member
and past president of the Capitola/Aptos Club. He
served as district governor of Rotary District
5170 in 1983-1984. He has served on the Board for
eight years, including three years as Chief
Financial Officer, and is currently serving a
fourth year as President.


RICHARD PROSCHOLD, Director
Richard Proschold, age 71, resides at 5717 Maywood
Drive, Foresthill, California 95631. Mr. Proschold
worked his entire career in and for the printing
and communications industry. In 1969, he became
President/CEO of Graphic Arts Credit Union in
Sacramento, California, which served the families
of the industry with their financial needs. At the
time he took the helm, the credit union had 400
members. In 1989, he completed a merger of Graphic
Arts Credit Union and its 5,000 active members
into S.A.F.E. Federal Credit Union, also in
Sacramento, to benefit the membership with more
expanded services. Mr. Proschold remained with
S.A.F.E. until 1992 when he retired, and has since
enjoyed traveling. In 1996, he became involved as
a volunteer with the Foresthill Community
Cemetery, a not-for-profit corporation. In January
1997, Mr. Proschold was appointed by their board
to serve as a director and is now currently
serving a two-year term as their President. Mr.
Proschold has served on the Board for four years.

THOMAS ROURKE, Director and Vice President -
Policy
Thomas Rourke is 63 years old. He resides at 899
Stagi Lane, Los Altos, California 94024. Mr.
Rourke graduated from the University of
Massachusetts in 1965 with a B.B.A. degree. He
was vice president of operations at Lynch
Communications, Inc., in Reno, Nevada from
1980-1982, and president of Lynch Circuits, Inc.,
in Sunnyvale, California from 1982-1987. He is
currently president and chairman of the board of
Startech Electronics, Inc., a management
consulting company, in Mountain View, California,
a position he has held since 1988. Mr. Rourke has
served on the board for five years, and is
currently serving a second year as Vice President
- Policy.


<PAGE>


JACK WILLIAMS, Director, Vice President - Finance,
and Chief Financial Officer
Jack Williams is 50 years old. He resides at 7801
Revelstoke Way, Bakersfield, California  93309.
Mr. Williams graduated from San Diego State
University in 1974 with a B.S. in accounting.
Following that, he has been employed in the field
of accounting in a variety of industries,
including agriculture, construction, heavy
equipment sales, and manufacturing. Mr. Williams
established his own C.P.A. practice in 1983. He
was employed as a Financial Analyst by Texaco Oil
Corporation in the Bakersfield area from 1997
until March 1999. Mr. Williams has been employed
with Goodwill Industries of South Central
California as an Accounting Director since March
2000. He has served on the Board of Directors for
six years, and is currently serving a fourth year
as Chief Financial Officer and Vice President -
Finance.

CHARLES ZAHKA, Director
Charles Zahka, age 74, resides at 6300 Alonzo
Avenue, Encino, California  91316. He retired as
vice president of the Broadway Department Stores
in 1990 after 20 years. He presently serves as
a private management consultant. Mr. Zahka is
president of the Stroke Association of Southern
California and vice chairman of the Better
Business Bureau of the Southland. He has served on
the Board for twelve years, including one year as
Secretary and one year as President.

DONALD BIANCHI, Director
Donald Bianchi was 77 years old. He resided at
3605 Belle Terrace, Bakersfield, California
93309. He retired from the U.S. Air Force as a
Lieutenant Colonel in 1983 and served as president
of The Retired Officers Association in 1994. He
was a traffic officer, pilot and accident
follow-up officer for the California Highway
Patrol for 31 years until his retirement in 1978.
He served as vice president of the Kern Kiwanis
and was an active member of the Masonic Lodge,
serving as a director in the Kern Shrine Club. Mr.
Bianchi was serving as a director for Sons in
Retirement Inc. He was also a licensed state
investigator in private practice and monitor for
California traffic schools. Mr. Bianchi passed
away in August 2000, having served on the Board
for 25 years.


<PAGE>




Other Officers and Key Employees:


JAY JAMISON, Assistant Corporate Secretary and
General Manager
Jay Jamison, 47 years old, has been employed by
the Company since June 1997 as General Manager and
serves as Assistant Corporate Secretary. He
resides at 17105 Oak Road, Atascadero, California
93422. He has a B.S. degree in agricultural
management from Cal Poly San Luis Obispo,
graduating in 1976. Mr. Jamison was raised on his
family's guest ranch, Rancho Oso, in Santa Barbara
County, which included a recreational vehicle
park, resident summer camp, equestrian facilities
and numerous resort amenities. He worked on the
ranch throughout his childhood and after college.
The family business was sold in 1983 at which time
Mr. Jamison was hired by Thousand Trails, Inc., a
private membership resort, as a Resort Operations
Manager. His last ten years at Thousand Trails
were spent managing a 200-acre, 518 site,
full-service resort located near Hollister,
California. He also managed resorts in Acton and
Idyllwild in Southern California. Prior to his
employment with the Company, Mr. Jamison was a
General Manager with Skycrest Enterprises in
Redding and managed Sugarloaf Marina and Resort on
Lake Shasta in Northern California between January
1995 and June 1997. He is active in the Resort and
Commercial Recreation Association and is also a
member of the American Quarter Horse Association.
Mr. Jamison was appointed to and has served as a
commissioner on the Pismo Beach Conference and
Visitors Bureau since February 1998, and in August
1999 was elected as Chair. At the National
Association of RV Parks and Campgrounds Annual
Convention in November 1999, Mr. Jamison was
appointed to the ARVC Board of Directors
representing the ten western states.

ROGER C. LYON, JR., Assistant Corporate Secretary
and General Counsel
Roger C. Lyon, Jr., is a practicing attorney in
the State of California and owns his law firm,
Lyon and Carmel, Attorneys-at-Law. His business
address is 1104 Palm Street, Post Office Box 922,
San Luis Obispo, California  93406. Mr. Lyon has
acted as outside general counsel to the
Corporation since 1984.

FURTHER INFORMATION CONCERNING EXECUTIVE
OFFICERS AND DIRECTORS

To the knowledge of the Company, none of the
officers or directors have been personally
involved in any bankruptcy or insolvency
proceedings. To the knowledge of the Company, none
of the directors or officers have been convicted
in any criminal proceedings (excluding traffic
violations and other minor offenses) or are the
subject of a criminal proceeding which is
presently pending, nor have such persons been the
subject of any order, judgment, or decree of any
court of competent jurisdiction, permanently or
temporarily enjoining them from acting as an
investment advisor, underwriter, broker or dealer
in securities, or as an affiliated person,
director or insurance company, or from engaging
in or continuing in any conduct or practice in
connection with any such activity or in connection
with the purchase or sale of any security, nor
were any of such persons the subject of a federal
or state authority barring or suspending, for more
than 60 days, the right of such person to be
engaged in any such activity, which order has not
been reversed or suspended.


<PAGE>


ITEM 10  EXECUTIVE COMPENSATION

No Officer or Director was paid more than $100,000
during the past fiscal year.

REMUNERATION OF DIRECTORS

The directors received no cash remuneration for
their service. However, the directors are entitled
to mileage reimbursement for travel to and from
meetings upon request. In addition, they are
entitled to use of the Resort for attending
meetings and are provided with food and
refreshments in connection with Board Meetings.
The aggregate value of the foregoing during the
fiscal year ended September 30, 2000, was
estimated at $19,983.

OPTIONS, WARRANTS OR RIGHTS
The Company has no outstanding options, warrants
or rights to purchase any of its securities.

INDEBTEDNESS OF MANAGEMENT

No member of management was indebted to the
Company during its last fiscal year.

ITEM 11  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL
OWNERS MANAGEMENT

(a)  No person owns beneficially of record more
than 5% of the Company's securities.

SECURITY OWNERSHIP OF MANAGEMENT

(b)  The following sets forth the securities
beneficially owned, directly, by all directors and
officers as a group as of September 30, 2000:


<TABLE>
<CAPTION>
                                        Amount of  Percent
Board Member          Title of Class    Ownership  of Class

<S>                   <C>                <C>         <C>
Howard Allard         Common Stock       1 Share     0.056%
5161 Diablo Ave
Sacramento CA 95842

Emily Barton          Common Stock       2 Shares    0.111%
4008 Glenbrook Ave
Bakersfield CA 93306


<PAGE>

                                        Amount of  Percent
Board Member          Title of Class    Ownership  of Class

Albert Brown          Common Stock      2 Shares     0.111%
22718 Lone Eagle Rd.
Apple Valley CA 92308

Harry Buchaklian      Common Stock      1 Share      0.056%
1361 E Ticonderoga Dr.
Fresno, CA 93720

Frank Drake           Common Stock      1 Share      0.056%
9511 Birch Creek Ct.
Bakersfield CA 93312

Norman Gould          Common Stock      1 Share      0.056%
10597 Road 30
Madera CA 93637

R. Elaine Harris      Common Stock      4 Shares     0.222%
3418 El Potrero Lane
Bakersfield CA 93304

Glenn Hickman         Common Stock      1 Share      0.056%
3584 W Wathen Ave
Fresno CA 93711

Edward Hinds, Jr.     Common Stock      1 Share      0.056%
3416 W Magill Ave
Fresno CA 93711

Terris Hughes         Common Stock      1 Share      0.056%
2426 Sunset
Wasco CA 93280

Larry Keller          Common Stock      2 Shares     0.111%
3807 Mesa Grande
Bakersfield CA 93304

Ronald Nunlist        Common Stock      4 Shares     0.222%
1105 Minter Ave
Shafter CA 93263

Jerald Pettibone      Common Stock      1 Share      0.056%
4179 Court Dr.
Santa Cruz CA 95062


<PAGE>


                                        Amount of  Percent
Board Member          Title of Class    Ownership  of Class

Richard Proschold     Common Stock      1 Share      0.056%
5717 Maywood Dr.
Foresthill CA 95631


Thomas Rourke         Common Stock      2 Shares     0.111%
899 Stagi Ln
Los Altos CA 94024

Jack Williams         Common Stock      1 Share      0.056%
7801 Revelstoke Way
Bakersfield CA 93309

Charles Zahka         Common Stock      2 Shares     0.111%
6300 Alonzo Way
Encino CA 91316

All Officers and
Directors as a Group  Common Stock     28 Shares     1.555%
</TABLE>


All such shares are owned beneficially and of
record, there are no additional shares known to
the Company for which the listed beneficial owner
has the right to acquire beneficial ownership as
specified in Rule 13D-3(d)(1) of the Exchange Act.


CHANGES IN CONTROL


Not applicable


ITEM 12  CERTAIN RELATIONSHIPS AND RELATED
TRANSACTIONS


There have been no transactions during the past
two years, or proposed transactions, to which the
Company was or is to be a party, in which any of
the officers, directors, nominees, named
shareholders, or family members of any such
persons, had or is to have a direct or indirect
material interest, other than transactions where
competitive bids determine the rates or charges
involved, or where the amount involved does not
exceed $60,000, or where the interest of the party
arises solely from the ownership of securities of
the Company and the party received no extra or
special benefit that was not shared by all
shareholders.

<PAGE>



PART IV

ITEM 13  EXHIBITS AND REPORTS ON FORM 8-K

(a.)  Documents Filed as Part of the Report:

Independent Auditor's Report

Balance Sheets as of September 30, 2000 and 1999

Statements of Operations and Retained Earnings
(Deficit) for the years ended September 30, 2000
and 1999

Statements of Cash Flows for the years ended
September 30,  2000 and 1999

Notes to Financial Statements

(b.)  Reports on Form 8-K:  None have been filed
during the last quarter of the period covered by
this report.


<PAGE>


SIGNATURES

Pursuant to the requirements of Section 13 or
15(d) of the Securities Exchange Act of 1934, the
Company has duly caused this report to be signed
on its behalf by the undersigned, thereunto duly
authorized.


PISMO COAST VILLAGE, INC.


By:  JERALD PETTIBONE     Date: November 11, 2000
Jerald Pettibone, President and Chairman of the
Board

Pursuant to the requirements of the Securities
Exchange Act of 1934, this report has been signed
below by the following persons on behalf of the
Company and in the capacities and on the dates
indicated.

By:  KITTY KARSTETTER      Date: November 11, 2000
Kitty Karstetter, Accounting Supervisor and
Principal Accounting Officer

By:  JERALD PETTIBONE      Date: November 11, 2000
Jerald Pettibone, President and Chairman of the
Board

By:  FRANK DRAKE           Date: November 11, 2000
Frank Drake, Executive Vice President and Director

By:  EDWARD HINDS, JR.     Date: November 11, 2000
Edward Hinds, Jr., Vice President - Secretary and
Director

By:  JACK WILLIAMS         Date: November 11, 2000
Jack Williams, Chief Financial Officer, Vice
President - Finance and Director

By:  THOMAS ROURKE         Date: November 11, 2000
Thomas Rourke, Vice President - Policy and
Director

By:  HOWARD ALLARD         Date: November 11, 2000
Howard Allard, Director

By:  EMILY BARTON          Date: November 11, 2000
Emily Barton, Director


<PAGE>


By:  ALBERT BROWN          Date: November 11, 2000
Albert Brown, Director

By: HARRY BUCHAKLIAN       Date: November 11, 2000
Harry Buchaklian, Director

By:  NORMAN GOULD          Date: November 11, 2000
Norman Gould, Director

By:  R. ELAINE HARRIS      Date: November 11, 2000
R. Elaine Harris, Director

By:  GLENN HICKMAN         Date: November 11, 2000
Glenn Hickman, Director

By: TERRIS HUGHES          Date: November 11, 2000
Terris Hughes, Director


By:  LARRY KELLER          Date: November 11, 2000
Larry Keller, Director

By:  RONALD NUNLIST        Date: November 11, 2000
Ronald Nunlist, Director

By:  RICHARD PROSCHOLD     Date: November 11, 2000
Richard Proschold, Director

By:  CHARLES ZAHKA         Date: November 11, 2000
Charles Zahka, Director

<PAGE>