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REQUEST FOR <br />COUNCIL ACTION <br />f M a <br />NOVEMBER 17, 2016 <br />TITLE; <br />,, <br />9 <br />CITY MA ER <br />As Recommended <br />71 As Amended <br />0 Ordinance on 1" Reading <br />Ordinance on god Reading <br />0 Implementing Resolution <br />❑ Set Public Hearing For <br />CONTINUED TO <br />FILE NUMBER <br />Adopt a resolution approving the Measure M2 Annual Expenditure Report, and authorize the <br />Public Works Agency Executive Director to submit the report to the Orange County <br />Transportation Authority, as required by Measure M2. <br />r -- <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 <br />submit documentation to the Orange County Transportation Authority (OCTA), including the year- <br />end expenditure report and a resolution approving the report to the OCTA. <br />The expenditure report is a detailed financial document submitted by each jurisdiction and is used <br />to track financial activity related to the Renewed Measure M2 and other improvement funds. The <br />report accounts for receipt, interest earned, and use of Measure M2 and other funds. This report <br />helps to validate eligible use of funds and must be submitted within six months of the jurisdiction's <br />fiscal year end, The report will allow the City to continue receiving approximately $4 million in <br />Measure M2 Fairshare funds each year; and adoption of the resolution (Exhibit 1) is a required <br />reporting element, <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 O (develop and Implement the City's Capital Improvement Program In <br />coordination with the Community Investment and Deferred Maintenance Plans), <br />55B -1 <br />