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Recognize Measure M2 Grant Funds and Amend the FY 23-24 CIP <br />September 19, 2023 <br />Page 2 <br />3 <br />7 <br />1 <br />1 <br />FISCAL IMPACT <br />Approval of the requested appropriation adjustment will recognize $825,000 Fiscal Year <br />2023-24 Measure M2 grant funds into the Public Works Measure M-Street Construction, <br />M2 Competitive revenue account (No. 03217002-52332) and appropriate the same <br />amount into the Public Works Measure M2 Competitive Street, Improvements Other Than <br />Building expenditure account (No. 03217663-66220). <br />The following table summarizes the funds budgeted and available in current FY 2023-24 <br />for design engineering expenditures after the appropriation adjustment. Any unspent <br />budget in FY 2023-24 will be included in future-year carry-forward requests for City <br />Council consideration. <br />Fiscal <br />Year <br />Accounting Unit <br />- Account No. <br />(Project No.) <br />Fund <br />Description <br />Accounting Unit - <br />Account No. <br />Description <br />Amount <br />Existing Project Budget <br />2023-24 05917663-66220 <br />(23-6701) <br />Select Street <br />Construction <br />HUTA 2103 Gas Tax, <br />Improvements Other <br />Than Buildings <br />$275,000 <br />Appropriation Adjustment <br />2023-24 03217663-66220 <br />(23-6701) <br />Measure M- <br />Street <br />Construction <br />Measure M2 <br />Competitive Street, <br />Improvements Other <br />Than Building <br />$825,000 <br />TOTAL $1,100,000 <br />EXHIBIT(S) <br />1. Resolution 2021-068 <br />2. OCTA Board Approval <br />3. Fiscal Year 2023-24 CIP Sheet <br />Submitted By: Nabil Saba, P.E., Executive Director – Public Works Agency <br />Approved By: Kristine Ridge, City Manager