HomeMy WebLinkAboutSR - RES-10898 - MEASURE M2 EXPENDITURE REPORTof 9, R 9
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AGENDA ITEM
November 10
TO: Honorable Mayor and
Members of the City Council
THRU: Rick Otto
City Manager
FROM: William M. Kolbow� f
Finance Director (�
ReviewedNerified By:
City Manager
Finance Direc or
To Be Presented By:
William M. Kolbow
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1. SUBJECT
Approve Resolution No. 10898 informing the Orange County Transportation Authority (OCTA)
that the City's M2 Expenditure Report is in conformance with the Renewed Measure M
Eligibility Guidelines.
2. SUMMARY 7=
OCTA has created forms for tracking M2 expenditures and net revenues that all public agencies
must use in order to be in compliance with the Renewed Measure M Eligibility Guidelines.
3. RECOMMENDED ACTION
Approve Resolution No. 10898.
4. FISCAL IMPACT
Adopting Resolution No. 10898 will allow the City to receive Measure M2 funding for
transportation projects.
5. STRATEGIC PLAN GOAL(S)
2. Be a Fiscally Healthy Community:
b. Analyze future fiscal needs and potential revenue opportunities.
c. Provide appropriate reserves.
ITEM 11/10/15
6. GENERAL PLAN IMPLEMENTATION
N/A
7. DISCUSSION and BACKGROUND 77�1
In Fiscal Year 2014 -15 (FY15), the City received $2,563,017 in M2 Fairshare funding and
$184,191 in other M2 funding. The City is required to complete the attached M2 Expenditure
Report and submit to OCTA for compliance tracking and reporting on an annual basis.
8. ATTACHMENTS
Resolution No. 10898
City of Orange M2 Expenditure Report for Fiscal Year Ended June 30, 2015
ITEM 2 11/10/15
RESOLUTION NO. 10898
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF ORANGE CONCERNING THE FISCAL YEAR
ENDED JUNE 30, 2015 MEASURE M2 EXPENDITURE
REPORT FOR THE CITY OF ORANGE
WHEREAS, Local Transportation Authority Ordinance No. 3 requires local jurisdictions
to adopt an annual Expenditure Report to account for New Revenues, developer /traffic impact
fees, and funds expended by local jurisdictions which satisfy the Maintenance of Effort
Requirements; and
WHEREAS, the Expenditure Report shall include all New Revenue fund balances,
interest earned and expenditures identified by type and program or project; and
WHEREAS, the Expenditure Report must be adopted and submitted to the Orange
County Transportation Authority ( "OCTA ") each year within six months of the end of the local
jurisdiction's fiscal year to be eligible to receive New Revenues as part of Measure M2; and
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Orange
does hereby inform OCTA that:
1. The M2 Expenditure Report for the fiscal year ended June 30, 2015 is in conformance
with the M2 Expenditure Report Template provided in the Renewed Measure M
Eligibility Guidelines, and properly accounts for New Revenues including interest
earned, expenditures during the fiscal year, and balances at the end of the fiscal year.
2. The M2 Expenditure Report is hereby adopted for the City of Orange.
ADOPTED this 10th day of November 2015.
Teresa E. Smith, Mayor of the City of Orange
ATTEST:
Mary E. Murphy, City Clerk of the City of Orange