Agenda Report
Fullerton City Council
MEETING DATE: DECEMBER 19, 2023
TO: CITY COUNCIL / SUCCESSOR AGENCY
SUBMITTED BY: STEPHEN BISE, PUBLIC WORKS DIRECTOR
PREPARED BY: JEROME JOAQUIN, ADMINISTRATIVE MANAGER
KAREN CHUNG, ADMINISTRATIVE ANALYST
JOHN JI, ACCOUNTING SUPERVISOR
SUBJECT: MEASURE M2 EXPENDITURE REPORT FOR FISCAL YEAR 2022-23
SUMMARY
Staff requests City Council approve the annual expenditure report related to Orange County Transportation Authority Measure M2 funds as required.
RECOMMENDATION
Adopt Resolution No. 2023-XXX.
RESOLUTION NO. 2023-XXX - A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF FULLERTON, CALIFORNIA, ADOPTING THE CITY OF FULLERTON MEASURE M2 EXPENDITURE REPORT FOR THE FISCAL YEAR ENDING JUNE 30, 2023
CITY MANAGER COMMENTS
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 $11,166,615 in eligible expenditures, exceeding the Maintenance of Effort (MOE) benchmark of $4,413,567, in Fiscal Year (FY) 2022-23. Each jurisdiction must provide an annual certification of expenditures that it has satisfied the MOE benchmark to continue receiving M2 revenues. Staff anticipates the City will receive $3.3 million in Measure M2 Local Fair Share revenues for FY 2023-24.
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 each year a local jurisdiction’s eligibility 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 prior 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 expenditure report by resolution. Staff has attached both the annual expenditure report for FY 2022-23 and the draft resolution to this report.
Attachments:
Attachment 1 – Resolution No. 2023-XXX
Attachment 2 – Expenditure Report
cc: City Manager Eric J. Levitt
Measure M2 Expenditure Report
December 19, 2023 - Page PAGE 2