HomeMy WebLinkAbout03 MEASURE M2 FAIRSHARE ANNUAL EXPENDITURE REPORTAgenda Item 3
Reviewed:
AGENDA REPORT City Manager
Finance Director
MEETING DATE: DECEMBER 17, 2013
TO: JEFFREY C. PARKER, CITY MANAGER
FROM: PAMELA ARENDS -KING, FINANCE DIRECTOR /CITY TREASURER
SUBJECT: MEASURE M2 FAIRSHARE ANNUAL EXPENDITURE REPORT
SUMMARY:
The Local Transportation Authority Ordinance No. 3 requires the City to adopt an
annual Expenditure Report to account for the Net Revenues, developer /traffic impact
fees, and funds expended by the City which satisfy the Maintenance of Effort (MOE).
The Orange County Transportation Authority (OCTA) established the MOE benchmark
in conjunction with passage of the original Measure M. MOE is a requirement that the
City expend local funds on transportation related projects each fiscal year in order to be
eligible to receive Measure M2 Fairshare funds; the City's required MOE expenditure is
$1,119,535.
RECOMMENDATION:
It is recommended that the Tustin City Council Adopt Resolution No. 13 -92, adopting
the Measure M2 Expenditure Report for Fiscal Year 2012 -2013 (attached) and direct
staff to file the report with the Orange County Transportation Authority.
FISCAL IMPACT:
There is no fiscal impact associated with this Agenda Item other than staff time.
BACKGROUND:
Voters approved the renewed Measure M (referred to as Measure M2) on November 7,
2006. Measure M2 is a 30 -year, multi - billion dollar program extension of the original
Measure M (1991 -2011) with a new slate of projects and programs that's managed by
OCTA. With passage of Measure M2, additional eligibility requirements must be
established and maintained by the City in order for the City to receive Measure M2
Fairshare funds, which represent a proportionate share of the 1/2% sales tax.
Measure M2 Fairshare Expenditure Report Page 2
December 17, 2013
The Local Transportation Authority Ordinance No. 3 requires the City to adopt an
annual Expenditure Report to account for Measure M2 Fairshare, other Measure M2
funding (includes Senior Mobility program), developer /traffic impact fees, and funds
expended by the City which satisfy MOE. The Annual Expenditure Report must be
adopted by the City Council and submitted to OCTA by the end of six (6) months
following the end of the City's fiscal year.
The Measure M2 Expenditure Report for Fiscal Year 2012 -2013 is attached to this
agenda report. For Fiscal Year 2012 -2013, the City received $1,259,937 in M2
Fairshare revenues for the period of July through June 2013. The City expended
$8,445,546 in Measure M2 sources during Fiscal Year 2012 -2013. These expenditures
include $7,779,587 in Combined Transportation Funding Program (CTFP) for Tustin
Ranch Road and $583,520 in Fairshare funds (includes interest) for traffic signal
improvements and catch basin inserts. The CTFP allows local jurisdictions to submit
projects during the "Call for Projects" period to receive additional Measure M2 funding.
The City applied for and received $9,020,070 in total from CTFP and State and Local
Partnership Program (SLPP) funding for Tustin Ranch Road. The Measure M2 program
requires interest earned by Fairshare allocations be expended in the same manner and
under the same time constraints as regular Fairshare allocations, therefore interest
earnings are expended prior to regular Fairshare allocations. The City expended
$1,487,901 in Fiscal Year 2012 -2013 to satisfy MOE requirements. The ending fund
balance for the Measure M2 fund is $1,685,495.
Pamela Arends -King n Tran
Finance Director /City Treasurer Administrative Services Manager
Attachments: Measure M2 Expenditure Report for Fiscal Year 2012 -2013
Resolution No. 13 -92
City of Tustin Schedule 1
M2 Expenditure Report
Fiscal Year Ended June 30, 2013
Beginning and Ending Balances
Line
Description
Amount
No.
Balances at Beginning of Fiscal Year
M2 Fairshare1$ 1,378,444
M2 Fairshare Interest2
M2 CTFP3
M2 CTFP Interest4
Other M2 Funding5$ 54,239
Other M2 Interest6
Other*7
Balances at Beginning of Fiscal Year (Sum Lines 1 to 7)
8$ 1,432,683
Monies Made Available During Fiscal Year9$ 8,708,686
Total Monies Available (Sum Lines 8 & 9)
10$ 10,141,369
Expenditures During Fiscal Year11$ 8,445,546
Balances at End of Fiscal Year
M2 Fairshare12$ 2,056,819
M2 Fairshare Interest13$ -
M2 CTFP14$ (380,628)
M2 CTFP Interest15$ -
Other M2 Funding16$ 19,632
Other M2 Interest17$ -
Other*18$ -
* Please provide a specific description
CTFP - Combined Transportation Funding Program
Revision No. 1
4/9/13
City of Tustin
M2 Expenditure Report
Fiscal Year Ended June 30, 2013
Sources and Uses
Description
Line
Amount
No.
.Revenues:
W2 Fairshare
1
$ 1,259,937
------------------------------------------------------ - - - - --
:M2 Fairshare Interest
--- - - - - --
2
------------------------
$ 1,958
----------------------------------------- - - - - --
:M2 CTFP
-
3
$ 7,392,561
- - --I ------------------------------------------------------- - - - - --
:M2 CTFP Interest
--- - - - - --
4
------------------------
$ 6,398
------------------------------------------------------- - - - - --
:Other M2 Funding
--- - - - - --
5
------------------ - - - - --
$ 47,743
• - ---- ---- - ----- -------------- -- -- ----- --- ----- -- ------ - - - - --
�Other M2 Interest
--- - - - - --
6
------------------------
$ 89
----------------------------------- - - - - --
:Other*
- - - - --
7
TOTAL REVENUES (Sum lines 1 to 7)
8
$ 8,708,686
Expenditures:
•------------------------------------------------------------
W2 Fairshare
---------------------------------------------------------- - - - - --
9
--- - - - - --
$ 581,562
------------------------
M2 Fairshare Interest
10
$ 1,958
----------------------------------------------------- - - - - --
;M2 CTFP
---------
11
--
$ 7,773,189
-------------------------------------- ----------------- - - - - --
M2 CTFP Interest
--- - - - - --
12
------------------------
$ 6,398
------------------------------------------------------- - - - ---
:Other M2 Funding
---------
13
------------------ - - - - --
$ 82,350
Other M2 Interest
14
$ 89
------------------- ---- ------------ - - - - --
:Other*
---------
15
------------------------
TOTAL EXPENDITURES (Sum lines 9 to 15)
16
$ 8,445,546
TOTAL BALANCE (Subtract line 16 from 8)
17
$ 263,140
* Please provide a specific description
Schedule 2
Revision No. 1
4/9/13
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Schedule 4
City of Tustin
M2 Expenditure Report
Fiscal Year Ended June 30, 2013
Fairshare Project List
PROJECT NAMEAMOUNT EXPENDED
Battery backup system installation at existing traffic signals (40079)$268,676
Traffic signal controller equipment upgrade and replacement (40080)$178,483
Jamboree Road, Warner Avenues, and Tustin Avenue signal synchronization
project (40081)
$15,084
Citywide installation of catch basin BMPs (50036)$17,487
Administrative Overhead$103,790
$ 583,520.00
Revision No. 1
4/9/13
City of Tustin
M2 Expenditure Report
Fiscal Year Ended June 30, 2013
Signature Page
I certify that the interest earned on Net Revenues allocated pursuant to the Ordinance shall be expended only for
those purposes for which the Net Revenues were allocated and all the information attached herein is true and
accurate to the best of my knowledge:
Director of Finance
Revision No. 1
4/9/13
RESOLUTION NO. 13 -92
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
TUSTIN, CALIFORNIA, THE ANNUAL MEASURE M2
FAIRSHARE EXPENDITURE REPORT FOR FISCAL YEAR
2012 -2013
WHEREAS, Local Transportation Authority Ordinance No. 3 requires local
jurisdictions to adopt an annual Expenditure Report to account for Net Revenues,
developer /traffic impact fees, and funds expended by local jurisdiction which satisfy the
Maintenance of Effort requirements; and
WHEREAS, the Expenditure Report shall include all Net Revenue fund balances,
interest earned and expenditures identified by type and program or project; and
WHEREAS, the Expenditure Report must be adopted and submitted to the
Orange County Transportation Authority each year within six months of the end of the
local jurisdiction's fiscal year to be eligible to receive Net Revenues as part of Measure
M2.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of
Tustin, does hereby inform Orange County Transportation Authority that:
a) The Measure M2 Expenditure Report is in conformance with the Measure M2
Expenditure Report Template provided in the Renewed Measure M Eligibility
Guidelines and accounts for Net Revenues including interest earned,
expenditures during the fiscal year and balances at the end of fiscal year.
b) The Measure M2 Expenditure Report is hereby adopted for the City of Tustin.
PASSED AND ADOPTED at a regular meeting of the City Council of the City of Tustin,
California, held on the 17th day of December, 2013.
ELWYN A. MURRAY,
Mayor
ATTEST:
JEFFREY C. PARKER,
City Clerk
STATE OF CALIFORNIA )
COUNTY OF ORANGE ) SS
CITY OF TUSTIN )
I, Jeffrey Parker, City Clerk and ex- officio Clerk of the City Council of the City of Tustin,
California, do hereby certify that the whole number of the members of the City Council
of the City of Tustin is five; that the above and foregoing Resolution No. 13 -92 was duly
passed and adopted at a regular meeting of the Tustin City Council, held on the 17th day
of December, 2013, by the following vote:
COUNCILMEMBER AYES:
COUNCILMEMBER NOES:
COUNCILMEMBER ABSTAINED:
COUNCILMEMBER ABSENT:
JEFFREY C. PARKER
City Clerk