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REQUEST FOR <br />COUNCIL ACTION ''??? <br />_? <br />?._? r <br />CITY COUNCIL MEETING DATE: CLERK OF COUNCIL USE ONLY: <br />DECEMBER 5, 2011 <br />TITLE: <br />RESOLUTION AFFIRMING THE <br />ADOPTION OF MEASURE M2 YEAR- <br />END EXPENDITURE REPORT <br />i <br />C ? c?,??? <br />CITY MANAGER <br />RECOMMENDED ACTION <br />APPROVED <br />Q As Recommended <br />? As Amended <br />? Ordinance on 'I? Reading <br />? Ordinance on 2ntl Reading <br />Q Implementing Resolution <br />Q Set Public Hearing For <br />CONTINUED TO <br />FILE NUMBER <br />Adopt a resolution approving the Measure M2 Annual Expenditure Report and authorizing the <br />City to submit to the Orange County Transportation Authority as required by Measure M2. <br />DISCUSSION <br />Each year local agencies are required to submit documentation to the Orange County <br />Transportation Authority (OCTA) to obtain and remain eligible to receive Measure M2 <br />Comprehensive Transportation Funding Programs (CTFP) Funds. Among these requirements, the <br />City is required to submit ayear-end Expenditure Report. OCTA has requested a resolution that <br />acknowledges Council's adoption of the Expenditure Report. <br />The Expenditure Report is a detailed financial report submitted by each jurisdiction used to track <br />financial activity as it relates to Renewed Measure M2 and other improvement funds. The report <br />accounts for receipt, interest earned, and use of Measure M2 and other funds. This report is used <br />to validate eligible use of funds and must be submitted within six months of the end of jurisdiction's <br />fiscal year. <br />FISCAL IMPACT <br />Adoption of the resolution will enable the City to continue to receive approximately $3.8 million <br />Measure M2 Fairshare funds each year and to be eligible for CTFP funding administered by the <br />OCTA. <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />. ?? <br />Raul Godinez II Francisco Gutierrez ??? <br />Executive Director Executive Director <br />Public Works Agency Finance & Management Services Agency <br />Exhibit: 1. Resolution rJrJQ-?