Agenda Report
Fullerton City Council
MEETING DATE: DECEMBER 20, 2022
TO: CITY COUNCIL / SUCCESSOR AGENCY
SUBMITTED BY: MEG McWADE, PUBLIC WORKS DIRECTOR
PREPARED BY: JEROME JOAQUIN, ADMINISTRATIVE MANAGER
JOHN JI, ACCOUNTING SUPERVISOR
SUBJECT: MEASURE M2 EXPENDITURE REPORT FOR FISCAL YEAR 2021-2022
SUMMARY
Staff requests City Council approval of the City’s annual expenditure report for Fiscal Year (FY) 2021-22 related to Orange County Transportation Authority Measure M2 funds as required.
RECOMMENDATION
Adopt Resolution No. 2022-XXX.
RESOLUTION NO. 2022-XXX - A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF FULLERTON, CALIFORNIA, ADOPTING THE MEASURE M2 EXPENDITURE REPORT FOR THE CITY OF FULLERTON FOR THE FISCAL YEAR ENDING JUNE 30, 2022
CITY MANAGER REMARKS
None.
PRIORITY POLICY STATEMENT
This item matches the following Priority Policy Statements:
Fiscal and Organizational Stability
Infrastructure and City Assets.
FISCAL IMPACT
The City must submit an approved expenditure report and resolution each fiscal year to continue receiving Measure M2 funds. The City spent $8,045,200.00 in eligible expenditures in FY 2021-22, exceeding the $4,338,338.83 Maintenance of Effort benchmark. Staff anticipates the City will receive $2.7 million in Measure M2 revenues for FY 2022-23.
DISCUSSION
Renewed Measure M2, approved by voters in 2006, is a 30-year program extension of the original Measure M (1991-2011).
The Orange County Transportation Authority determines a local jurisdiction’s eligibility each year to receive Renewed Measure M2 Fair Share and competitive program funds. The Renewed Measure M2 requires preparation and submittal of an annual expenditure report within six months of the City’s fiscal year end. The report must include the following:
Summary Statement of Beginning and Ending Balances
Summary Statement of Sources and Uses
Summary Statement of Streets and Roads Detailed Use of Funds Summary Statement of M2 Fair Share Project List
Certification Signature from the Director of Finance.
City Council must adopt the annual expenditure report by resolution. Staff has attached both the annual expenditure report for FY 2021-22 and the draft resolution to this report.
Attachments:
Attachment 1 – Resolution No. 2022-XXX
Attachment 2 – Expenditure Report
cc: City Manager Eric J. Levitt
FY 2021-22 Measure M2 Expenditure Report
December 20, 2022 - Page PAGE 2