Item 495/2024
Final
City of Garden Grove
INTER-DEPARTMENT MEMORANDUM
To:
Lisa L. Kim From: William E. Murray
Dept:
City Manager Dept: Public Works
Date: 12/10/2024
Subject: Adoption of a Resolution for the Fiscal Year 2023-24 Renewed Measure M (M2) Annual Expenditure Report. (Action Item)
OBJECTIVE
For the City Council to adopt a Resolution for Fiscal Year 2023-24 Renewed Measure M (M2) Annual Expenditure Report as required by the Local Transportation Authority Ordinance No. 3.
BACKGROUND
Per M2, each local agency is required to submit approved documentation to the Orange County Transportation Authority to maintain M2 eligibility for Local Fair Share appropriations and competitive grant funding.
DISCUSSION
Per Local Transportation Authority Ordinance No. 3, local jurisdictions are required to adopt an Annual Expenditure Report to account for beginning/endi ng balances, Local Fair Share distributions, transportation facilities fees, and Maintenance of Effort expenditures. The Expenditure Report has been prepared by the Finance Department and has been signed and certified by the Finance Director.
FINANCIAL IMPACT
There is no impact to the General Fund. The attached report is necessary to receive M2 revenues and competitive grant funding.
RECOMMENDATION
It is recommended that the City Council:
Adopt the attached Resolution adopting the Fiscal Year 2023 -24 Renewed Measure M (M2) Annual Expenditure Report; and
Item 495/2024
Authorize the Finance Director to submit the Renewed Measure M (M2) Annual Expenditure Report to the Orange County Transportation Authority.
By: Alexa Viramontes, Sr. Administrative Analyst
ATTACHMENT(S)
1. Resolution
2. Expenditure Report