Agenda Report
Fullerton City Council
MEETING DATE: DECEMBER 3, 2024
TO: CITY COUNCIL / SUCCESSOR AGENCY
SUBMITTED BY: STEPHEN BISE, PUBLIC WORKS DIRECTOR
PREPARED BY: JEROME JOAQUIN, ADMINISTRATIVE MANAGER
KAREN CHUNG, ADMINISTRATIVE ANALYST
JOHN JI, FISCAL SERVICES MANAGER
SUBJECT: MEASURE M2 EXPENDITURE REPORT FOR FISCAL YEAR 2023-2024
SUMMARY
Staff requests City Council approval of the City’s annual expenditure report related to Orange County Transportation Authority Measure M2 funds.
PROPOSED MOTION
Adopt Resolution No. 2024-XXX.
RESOLUTION NO. 2024-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, 2024
ALTERNATIVE OPTIONS
Approve the Proposed Motion
Other options brought by City Council.
STAFF RECOMMENDATION
Staff recommends the Proposed Motion.
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 $11,082,362 in eligible expenditures in Fiscal Year (FY) 2023-24, exceeding the $4,921,569 Maintenance of Effort (MOE) benchmark. Each jurisdiction must provide an annual certification of expenditures that 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 2024-25.
DISCUSSION
Renewed Measure M2, approved by voters in 2006, is a 30-year program extension of the original Measure M (1991-2011). The City utilizes Measure M2 funds to support street improvements and programmed annually into the City Capital Improvement Program (CIP) budget.
The Orange County Transportation Authority determines a local jurisdiction’s eligibility to receive Renewed Measure M2 Fair Share and competitive program funds each year. The Renewed Measure M2 requires preparation and submittal of an annual expenditure report within six months of the prior City 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 local fair share project list
Director of Finance certification signature.
City Council must adopt the expenditure report by resolution. Staff has attached both the annual expenditure report for FY 2023-24 and the draft resolution to this report.
Attachments:
Attachment 1 – Resolution No. 2024-XXX
Attachment 2 – Expenditure Report
cc: City Manager Eric J. Levitt
Measure M2 Expenditure Report
December 3, 2024 - Page PAGE 2