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Home My WebLink About09 MEASURE M2 FAIRSHARE ANNUAL EXPENDITURE REPORTQTY O AGENDA REPORT MEETING DATE: DECEMBER 20, 2016 TO: JEFFREY C. PARKER, CITY MANAGER FROM: SEAN TRAN, ACTING FINANCE DIRECTOR 9 Agenda Item Reviewed: City Manager r—�e Finance Director 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 $1,222,756. RECOMMENDATION: It is recommended that the Tustin City Council Adopt Resolution No. 16-77, adopting the Measure M2 Expenditure Report for Fiscal Year 2015-2016 (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. CORRELATION TO THE STRATEGIC PLAN: Filing the Measure M2 Fairshare Annual Expenditure Report contributes to the City's Strategic Plan Goal C, by ensuring that the City adheres to the Local Transportation Authority Ordinance Number 3 and continues to receive Measure M2 Fairshare funds. Measure M2 Fairshare Expenditure Report Page 2 December 20, 2016 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 112% sales tax. 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 2015-2016 is attached to this agenda report. For Fiscal Year 2015-2016, the City received $1,453,060 in M2 Fairshare revenues for the period of July through June 2016. The City expended $2,673,270 in Measure M2 sources during Fiscal Year 2015-2016. These expenditures include $2,527,673 in Fairshare funds (includes interest) for various projects (traffic signal improvements, pedestrian enhancements, catch basin inserts, etc.). The Measure M2 program requires that interest earned by Fairshare allocations needs to 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 $2,245,527 in Fiscal Year 2015-2016 which satisfies Measure M2 MOE requirements. A majority of the MOE expenditures were for projects in Tustin Legacy. The ending fund balance for the Measure M2 fund is $3,832,940. � �� - � � � /�,� � r! Vii' ✓� 4L �' L�' Sean Tran Glenda Babbitt Acting Finance Director Management Analyst I Attachments: Measure M2 Expenditure Report for Fiscal Year 2015-2016 Resolution No. 16-77 RESOLUTION NO. 16-77 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF TUSTIN, CALIFORNIA, THE ANNUAL MEASURE M2 FAIRSHARE EXPENDITURE REPORT FOR FISCAL YEAR 2015-2016 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 jurisdictions 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 20th day of December, 2016. DR. ALLAN BERNSTEIN Mayor ATTEST: ERICA RABE, City Clerk . STATE OF CALIFORNIA ) COUNTY OF ORANGE ) SS CITY OF TUSTIN } 1, Erica Rabe, 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. 16-77 was duly passed and adopted at a regular meeting of the Tustin City Council, held on the 20th day of December, 2016, by the following vote: COUNCILMEMBER AYES: COUNCILMEMBER NOES: COUNCILMEMBER ABSTAINED: COUNCILMEMBER ABSENT: ERICA RABE City Clerk City of Tustin M2 Expenditure Report Fiscal Year Ended June 30, 2816 Beginning and Ending Balances Description Line No. Amount Balances at Beginning of Fiscal Year M2 Fairshare1 $ 3,349,889 M2 Fairshare Interest..-._.-._._.__,..._..,._.._._.,, 2 _._.:. .....:....__ ...___..__ $ - W2 CTFP3 $ (68,415) M2 CTFP Interest W .4..._ $— - Other M2 Funding 5 $ 182,465 Other M2 Interest 6 $ Other* 7 $ 111,565 Balances at Beginning of Fiscal Year (Sum Lines 1 to 7) 8 $ 3,575,504 Monies Made Available During Fiscal Year 9 $ 2,930,706 Total Monies Available (Sum Lines 8 & 9) 10 $ 6,506,210 Expenditures During Fiscal Year 11 $ 2,673,270 Balances at End of Fiscal Year M2 Fairshare 12 $ 2,291,231 M2 Fairshare Interest 13 $ - _....._...... ... _ ------- M2 CTFP 14 �_... $ 471,585 M2 CTFP Interest 15 $ 5,929 Other M2 Funding 16 $ 1,044,896 Other M2 Interest 17.,..........._.._...---..,_„�.,... $ 9,347 .Other* 18 $ 9,952 Emma * Please provide a specific description * - Other amount is assoicated with State and Local Partnership Program payments. CTFP - Comprehensive Transportation Funding Programs Schedule 1 City of Tustin M2 Expenditure Report Schedule 2 Fiscal Yealr Ended lune 30, 2016 Sources and Uses Description Line No. Amount Revenues: Project Description ... -....-...... .................. $ 1,453,060 --.......-....-.-..- ............................................................................................................................... `M2 Faiirshare1 .. . .....-...4.......................................................................................... .... W112 Fairsh,., est Interest 2 $15,955 .are _M2 CTFP (Project 0..-_.-_.-. ......................---........................... 3 $ 540,000 - ....................................................... CM2 CTFP Interest 4 $5,929 s..... ..................................... ..................... .........._....._...,.........,...........,,......-._.........................-----....._.--....................... :either M2 Fundings' ............. ...-..-P........................................--..._...-_....--......_................._....__-__.._.... 5 905,816. ...................................... :tither M2 Interest 6 $ 9,946 Qther............................--•--------.._................................................................................I.. Transit Extensions to Metrolink S TOTAL REVENUES (Sum lines 1 to 7) 8 $ 2,930,706 Expenditures: T $ 9 ..... .. 2,511,718 .._...._...... ..... M12 Fairshare ... . .........L .................,..,.-....-............ „.............................................................-•-----........... M2 Fairshare Interest ...------_............-........................................--------------------------------•----------..._....................................................... 10 $ 15,955 ......................... M2 CTFP (Project 0) 11 $ - ....._...r...._............................................_.................................,.................................................................................................. M2 CTFP interest 12 $ - other M2 Fundin(........................................................................................... ti:�.........��.. 43,385 =Other M2 Interest _..................... 14 $ 599 ................................................................................................................. :tither 15 .......................-..... $ 101,613 TOTAL EXPENDITURES (Sum lines 9 to 15) 16 $ 2,673,270 TOTAL BALANCE (Subtract line 16 from 8) 17 $ 257,436 *Expenditure is associated with the State and Local Partnership Program for the Warner Ave extension project "• Please provide breakdown of "Other M2 Funding". Other M2 Funding includes funding received and/or funds expended by Local Agencies from any other M2 program besides Project O (Regional Capacity Program) and Project Q (Local Fair Share Program). Revenues Project Description Project Amount Interest Total Freeway Environmental Mitigation A -M $ - $ $ - Regional Traffic Signal Synchronization Program P $ $ - High Frequency Metrolink Service R $ $ $ - Transit Extensions to Metrolink S $ $ $ Convert Metrolink Stations) to Regional Gateways that connect Orange County with High -Speed Rail Systems T $ $ S - Senior Mobility Program or Senior Non -Emergency Medical Program U $ 54,585 $ 594 $ 55,184 Community Based Transit/Circulators V S - $ $ - Safe Transit Stops W $ - $ - $ - Water Quality Program X $ 851,,231 S 9,347.00 $ 860,578 Total $ 905,816 $ 4,946 $ 915,762 Expenditures Project description Project Amount Interest Total Freeway Environmental Mitlgation A -M $ $ $ - Regional Traffic Signal Synchronization Program P $ $ $ - High Frequency Met,rof nk Service R $ - $ - $ - Tran Sit ExtenSion5toMetro4nk 5 $ $ - $ - Convert Metrolink Station(s) to Regional Gateways that connect Orange County with High -Speed Raid Systems T $ $ - $ - Senior Mobility Program or Senior Non -Emergency Medical Program U $ 43,385.00 $ 599.00 $ 43,994.00 Community Based Transit/Circulators V $ 5 $ - Safe Transit Stops W $ $ - $ Water Quality Program X $ $ - $ - Total $ 43,395.00 S 599.00 $ 43,94341.00 c� {w A Il N N dpi _ i OLi iQf :LpiNiiZ pp LOELO LA m h y F, m nErS _ ✓iE =LA Ln: d: O'E :M: 00 ko V1 O m MEAL; i N :N i/F i/T: N:Vi:tA: yT:4A: t/�5V►f of {/?•VF:tA: V1•V}: Ui'. 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QI M:�O: ' C; C: 1ruo) i 91—i CIV :Q:VI:LA:QE C N City of Tustin M2 Expenditure Report Fiscal Year Ended June 30, 2016 Fairshare Project List PROJECT NAME Battery backup at existing traffic .system installations gnal ___...._ Traffic sicontrollerequrp wmenu . pgrades and reel Jamboree Rd, Warner Ave, and Tustin Ave_ signal syn( New ort.Avenue signal synchronization Ciytywide Installation of Catch Basin BMPs ...._..........._.................__.........-..._........._............................_......._............_...._............. Biofiltration retrofit -various Annu-a-i ajor pavement maintenance „ „r Annual major pavement maintenance m Annual maiorpavement maintenance Bank._:._:..._......._Cha �eS........._....�......._......_......__.._...........-........_.�......�........ Seroice..........ar........._........n..............................._...__...................._...,........ Direct charge for labor assaciated with these Project! Schedule 4 AMOUNT EXPENDED $6,573.96 :ements _$28,985 ronization $8,131 _............._.........-............... ........... ,......... 576.451 545 541 472 $ 2,527,673.41 City of Tustin M�2 Expenditure Report Fiscal Year Ended June 30, 2016 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: Sean Tran Acting Director of Finance (Print Name) ��-Oa4� DireCtor of Finance Signature IZ 6 Date