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4.0 Funding Allocation Method & Distribution <br />Funding for the program is identified as one percent of M2 net sales tax revenue <br />and will be allocated to eligible local jurisdictions based upon the participating <br />jurisdiction's percentage of the senior population of the county. Senior population <br />is determined by using the most current official decennial Census information <br />provided by the U.S. Census Bureau. <br />Funding allocations are based on actual sales tax receipts. Funding will be <br />distributed on a bi-monthly basis. SMP funds must be expended within three years <br />of receipt. <br />OCTA may grant a two-year extension beyond the three-year expenditure <br />limitation; however, an extension may not exceed five years from the date of the <br />initial funding allocation. Jurisdictions requesting an extension beyond the <br />three-year limitation must submit a justification letter for review and approval by <br />OCTA at least 90 days prior to the end of the third fiscal year. <br />In the event the time limits for use of SMP funds are not satisfied, any retained <br />SMP funds that were allocated to an eligible jurisdiction, including interest, shall <br />be returned to OCTA. <br />5.0 Match Requirements <br />Participating jurisdictions must provide a minimum 20 percent local match of the <br />total annual program expenditures. Match funding may be made up of cash <br />subsidies, fare revenues, donations, or in-kind contributions such as salaries and <br />benefits for the jurisdiction's employees who perform work on the program. <br />Jurisdictions may also be required to submit supporting documentation to <br />substantiate local match expenditures. Jurisdictions are not required to contribute <br />the minimum match requirement on a monthly basis; however, the minimum 20 <br />percent match requirement must be met by the end of each fiscal year, defined as <br />June 30. <br />Jurisdictions not satisfying the annual 20 percent match shall be subject to <br />withholding of funds from future bi-monthly allocations equal to the difference <br />between the amount of Measure M funds actually spent and the amount of <br />Measure M funds actually matched. <br />2 1 P a g e <br />S:\TEMP\Sue D\Agencies\SMP-Attachment B.docx <br />