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Orange County Transportation Authority Measure M2 Grant Funding <br />February 20, 2024 <br />Page 2 <br />4 <br />0 <br />2 <br />9 <br />previously recognized $5,239,043 for Phase 3A and $11,910,066 for Phase 4 of the <br />initial award of this grant, and matching funds were previously budgeted in prior fiscal <br />years. Any new required match will be budgeted in upcoming Capital Improvement <br />Program (CIP) cycles. Recognition of these grant funds will amend the Fiscal Year <br />2023-24 Capital Improvement Program (Exhibit 3) and allow City staff to continue work <br />on the Bristol Street Improvements project (Exhibit 4). <br />FISCAL IMPACT <br />Approval of the requested appropriation adjustment will recognize the additional grant <br />award in the amount of $523,225 from Measure M Street Construction revenue account <br />(No. 03217002-52332) and appropriate the same amount to the Measure M2 <br />Competitive, Improvements Other Than Building expenditure account (No. 03217663- <br />66220). Funds are available for expenditure in Fiscal Year 2023-24, however any <br />remaining balances not expended at the end of the fiscal year will be carried forward <br />into FY 2024-25. <br />Fiscal <br />Year <br />Accounting <br />Unit – <br />Account No. <br />(Project No.) <br />Fund <br />Description <br />Accounting Unit, <br />Account No. <br />Description <br />Amount <br />APPROPRIATION ADJUSTMENT <br />2023-24 <br />03217663 – <br />66220 <br />(13-6792) <br />Measure M- <br />Street <br />Construction <br />Measure M2 <br />Competitive <br />Street, <br />Improvements <br />Other Than <br />Buildings <br />$205,949 <br />2023-24 <br />03217663 – <br />66220 <br />(11-6741) <br />Measure M- <br />Street <br />Construction <br />Measure M2 <br />Competitive <br />Street, <br />Improvements <br />Other Than <br />Buildings <br />$317,276 <br />EXISTING BUDGET <br />2023-24 <br />03217663 – <br />66220 <br />(13-6792) <br />Measure M- <br />Street <br />Construction <br />Measure M2 <br />Competitive <br />Street, <br />Improvements <br />Other Than <br />Buildings <br />$5,239,043