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REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />CLERK OF COUNCIL USE ONLY: <br />NOVEMBER 18, 2014 <br />TITLE: APPROVED <br />RESOLUTION AFFIRMING ADOPTION ❑ As Recommended <br />OF THE MEASURE M2 YEAR -END ❑ Or amended W <br />EXPENDITURE REPORT p Orrddinancee on 2"' Reading g <br />{STRATEGIC PLAN NO. 6, 1, G} ❑ Implementing Resolution <br />❑ Set Public Hearing For <br />CONTINUED TO <br />'7% C FILE NUMBER <br />CITY MANA <br />RECOMMENDED ACTION <br />Adopt a resolution approving the Measure M2 Annual Expenditure Report and direct the Executive <br />Director of the Public Works Agency to submit it to the Orange County Transportation Authority, as <br />required by Measure M2. <br />DISCUSSION <br />The recommended action will allow the City to continue receiving Measure M2 Comprehensive <br />Transportation Funding Programs (CTFP) Funds. Each year local agencies are required to submit <br />documentation to OCTA which includes a year -end expenditure report along with a resolution <br />which approves the report to the Orange County Transportation Authority (OCTA). <br />The expenditure report, attached to the resolution (Exhibit 1), is a detailed financial document <br />submitted by each jurisdiction and is used to track financial activity related to the Renewed <br />Measure M2 and other improvement funds. The report accounts for receipt, interest earned, and <br />use of Measure M2 and other funds. This report helps to validate eligible use of funds and must <br />be submitted within six months of the jurisdiction's fiscal year end. The report will allow the City to <br />continue receiving approximately $4 million in Measure M2 Fairshare funds each year, and <br />adoption of the resolution is a required reporting element. <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item supports the City's efforts to meet Goal #6 Community Facilities & <br />Infrastructure, Objective #1 (establish and maintain a Community Investment Plan for all City <br />assets), Strategy G (develop and implement the City's Capital Improvement Program in <br />coordination with the Community Investment and Deferred Maintenance Plans). <br />55C -1 <br />