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Home My WebLink About04 - Approval of Measure M2 Expenditure ReportQ �EwPpRT CITY OF s NEWPORT BEACH `q44:09 City Council Staff Report November 19, 2024 Agenda Item No. 4 TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL FROM: Jason AI -Imam, Finance Director/Treasurer - 949-644-3126, jalimam@newportbeachca.gov PREPARED BY: Jeremiah Lim, Senior Accountant - 949-644-3242, jlim@newportbeacha.gov TITLE: Resolution No. 2024-88: Approval of Measure M2 Expenditure Report ABSTRACT: Measure M2 requires local jurisdictions to submit an annual accounting of M2 revenues and expenditures to the Orange County Transportation Authority (OCTA) by December 31 each year. Prior to submitting the accounting to OCTA, the M2 Expenditure Report must be adopted by City Council through a resolution. RECOMMENDATIONS: a) Determine this action is exempt from the California Environmental Quality Act (CEQA) pursuant to Sections 15060(c)(2) and 15060(c)(3) of the CEQA Guidelines because this action will not result in a physical change to the environment, directly or indirectly; and b) Adopt Resolution No. 2024-88, A Resolution of the City Council of the City of Newport Beach, California, Concerning the Measure M2 Expenditure Report for the City of Newport Beach for the Fiscal Year Ending June 30, 2024. DISCUSSION: In 1990, Orange County voters approved Measure M, a 20-year program for local transportation improvements funded by a half -cent sales tax and entrusted the newly created OCTA to administer Measure M funds. Measure M was designed to fund transportation improvement projects in three major areas — freeways, streets and roads, and transit. The first Measure M program ended on March 31, 2011. On November 7, 2006, Orange County voters renewed Measure M, and Measure M2 (M2) was passed to keep the transportation improvements continuing for another 30 years, until 2041. With the passage of M2, local agencies must continue to demonstrate eligibility. One new requirement emphasizes financial accountability and requires each local agency to submit an expenditure report to OCTA each year. Specifically, Ordinance No. 3 of the Local Transportation Authority requires the following: "Local jurisdictions must adopt and provide an annual expenditure report to OCTA to account for M2 funds, developer/traffic impact fees, and funds expended by the jurisdiction to satisfy maintenance of effort requirements. The report is required within six months of each jurisdiction's fiscal year end. The report will include all M2 net revenue, fund balances and interest earned, and will identify expenditures by activity type and funding source." 4-1 Resolution No. 2024-88: Approval of Measure M2 Expenditure Report November 19, 2024 Page 2 To be eligible for M2 funds, the City of Newport Beach must maintain a minimum level of local streets and roads expenditures using discretionary funds, known as the maintenance of effort (MOE). The City's MOE requirement for Fiscal Year 2023-24 was approximately $14.3 million. Approximately $22.4 million in eligible MOE expenditures were incurred during FY 2023-24, as reflected in the exhibit included with Attachment A. In FY 2023-24, the City received approximately $3.3 million of M2 funds and expended approximately $2.7 million of M2 funds, increasing the balance of unexpended M2 funds compared to the beginning of the fiscal year. Unexpended M2 funds remaining at the end of fiscal year 2023-24 will be expended in future fiscal years. FISCAL IMPACT: If the Measure M2 Expenditure Report is not filed with OCTA, then OCTA could potentially suspend or delay M2 funding to the City. Filing the report provides the City with additional resources to fund transportation capital improvement projects that would otherwise need to be funded by the City's General Fund. ENVIRONMENTAL REVIEW: Staff recommends the City Council find this action is not subject to the California Environmental Quality Act (CEQA) pursuant to Sections 15060(c)(2) (the activity will not result in a direct or reasonably foreseeable indirect physical change in the environment) and 15060(c)(3) (the activity is not a project as defined in Section 15378) of the CEQA Guidelines, California Code of Regulations, Title 14, Chapter 3, because it has no potential for resulting in physical change to the environment, directly or indirectly. NOTICING: The agenda item has been noticed according to the Brown Act (72 hours in advance of the meeting at which the City Council considers the item). ATTACHMENT: Attachment A — Resolution No. 2024-88 4-2 ATTACHMENT A Resolution No. 2024-88 G� RESOLUTION NO. 2024- 88 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NEWPORT BEACH, CALIFORNIA, CONCERNING THE MEASURE M2 EXPENDITURE REPORT FOR THE CITY OF NEWPORT BEACH FOR THE FISCAL YEAR ENDING JUNE 30, 2024 WHEREAS, local jurisdictions are required to meet eligibility requirements and submit eligibility verification packages to the Orange County Transportation Authority ("OCTA") to remain eligible to receive Measure M2 ("M2") funds; WHEREAS, local jurisdictions are required to adopt an annual expenditure report as part of the eligibility requirements ("Expenditure Report"), which Expenditure Report is attached hereto as Exhibit "A" and incorporated herein by reference; WHEREAS, local jurisdictions are required to account for developer/traffic impact fees, and funds expended by the local jurisdiction in the Expenditure Report that satisfy OCTA's Maintenance of Effort requirements; WHEREAS, local jurisdictions are also required to account for Net Revenues in such Expenditure Report, which is defined by OCTA as "[a]II of the gross revenues generated from the transactions and use tax plus any interest or other earnings thereon (collectively, "Revenues"), after the deduction for: (i) amounts payable to the State Board of Equalization for the performance of functions incidental to the administration and operation of the Ordinance, (ii) costs for the administration of the Ordinance as provided herein, (iii) two percent (2%) of the Revenues annually allocated for Environmental Cleanup, and (iv) satisfaction of debt service requirements of all bonds issued pursuant to the Ordinance that are not satisfied out of separate allocations, shall be defined as 'Net Revenues' and shall be allocated solely for the transportation purposes described in the Ordinance"; 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 OCTA 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 M2. Resolution No. 2024- Page 2 of 3 NOW, THEREFORE, the City Council of the City of Newport Beach resolves as follows: Section 1: The City Council does hereby inform OCTA that: a) The Expenditure Report is in conformance with the template provided in the Measure M2 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 Expenditure Report is hereby adopted by the City of Newport Beach. c) The City of Newport Beach's Finance Director is hereby authorized to sign and submit the M2 Expenditure Report to OCTA for the fiscal year ending June 30, 2024. Section 2: The recitals provided in this resolution are true and correct and are incorporated into the operative part of this resolution. Section 3: If any section, subsection, sentence, clause or phrase of this resolution is, for any reason, held to be invalid or unconstitutional, such decision shall not affect the validity or constitutionality of the remaining portions of this resolution. The City Council hereby declares that it would have passed this resolution, and each section, subsection, sentence, clause or phrase hereof, irrespective of the fact that any one or more sections, subsections, sentences, clauses or phrases be declared invalid or unconstitutional. Section 4: The City Council finds the adoption of this resolution is not subject to the California Environmental Quality Act (CEQA) pursuant to Sections 15060(c)(2) (the activity will not result in a direct or reasonably foreseeable indirect physical change in the environment) and 15060(c)(3) (the activity is not a project as defined in Section 15378) of the CEQA Guidelines, California Code of Regulations, Title 14, Division 6, Chapter 3, because it has no potential for resulting in physical change to the environment, directly or indirectly. 4-5 Resolution No. 2024- Page 3 of 3 Section 5: This resolution shall take effect immediately upon its adoption by the City Council, and the City Clerk shall certify the vote adopting the resolution. ADOPTED this 19th day of November, 2024. Will O'Neill Mayor ATTEST: Leilani I. Brown City Clerk APPROVED AS TO FORM: CITY TTORNEY'S OFFIC A ron C. Harp City Attorney Attachment: Exhibit A — Expenditure Report mo City of Newport Beach Exhibit A M2 Expenditure Report Fiscal Year Ended June 30, 2024 Beginning and Ending Balances Schedule 1 Description in Amount Interest Balances at Beginning of Fiscal Year __....__. ..............•......._..._.....__..............•..................................... ............................_...... A-M `1Freewa._...Pro'ects 1 $ - $ - O M}Regional..Ca.•�acity Pro..,ram (RCP.. _.,................,..,.•....._.••.•,.,...,..,..._•.,.......... __.•_.•e._.......,...•.....•...........P..._._..._...._..........._......._._...•_._...............•..........................._....................................................._._._ ...w-2....., ._......._................_-......._. •..,..........,....._.,..... ... 527,562....$..,••................... ......... ._..... ...... •................._...._.._...............•............. .................••..,....•_ ..._.........,_.._..._... ......... ............ ..._..... P Regional Traffic Signal Synchronization Program (RTSSP) 3 $ - $ - __._.e__...... ........... ...._.............. ........ .... _................... ...__......................... ..._...................... ...... ............ .......... ..................... _........ _._..._.............. Q ;Local Fair Share ...•..,b.....-.•....................-.-.....-.•...,...,.,..........-,.....,,........._..w.•..,......,...,.................,.........•.......................... ............. ...... 4 ......... ...._......_.._._..._.._............. $ •.......•................•_.,..•..,.......-.... ...... ..-_......__.._... 2,645,082 _._....._...._......._ $ ....,.......,.,.._,....,.......,..•...,....,.. __....... .................... ........ - R :High Frequency Metrolink Service 5 $ S :Transit Extensions to Metrolink 6 $ _....__...__. ..._...$.... - ..... _ $ ........... .._.... _......... .............•..._.W.•... - _._•__v...•..,._..............._......._._--._......._...•......__.__,._.._....._..•.•._..,............•.......................•....._..................•.................... T -Convert Metrolink Station(s) to Regional Gateways that ..... 7 ......_...._......._....._............................._..... $ _............• $ ......._...__-_......_.......................... ,connect Orange County with High -Speed Rail Systems _ ......... _... _... .... _... ............ - .......-................ - _............ _... ..... - _...... _.._....__...._...............- :Senior Mobility Program or Senior Non -Emergency Medical 8 $ - $ . Pr........._ogrem........... -........ . -...,..•.....• ,....,...........•........•.......•,..•.................. _............ .,..•...,....,..........._...... _......,,....•..._...., ..............._........... _-.,.......,.,..,...,..,..-.•.-.....,.. ...... .... ..,,,.,_.•... V_Communit . ._..YBased Transit/Circulators :..s..._.................._....._..�426,514�...$...•..............._.... -__...•.._.....__ _.................._......__.._..._.._....,............_..............._..............................._................_...... W :Safe Transit Stops ................ 10 $ - $ ..............._.._.......... - _.__........•........•........._...... ___...._...................._..._........_...-......_....__..._..•...•.••,........_....._......_.._._.....•...••.............._....___...._ X Environmental Cleanup Program (Water Quality) (Note 2 Below) _W •..............,.......•.............._..._.........._._............._......•_....._..._._..............•,....._ 11 $ (267,210) $ ......................_.........,._.............. - .,......�...........••........_......._.........,..............._....._..._...._...__....,......._............._._. .......__.._......•........ ,_.__.... )Other* Note 2 Below ..............•................__......._....._.......•,..•....__. 12 $ _ _ ._....__ (15,290) ................._..._...._._-_....._................_.._... $ - Balances at Beginning of Fiscal Year - __._......_._............____.........•......................_...__._......................._................._.........•._.•.••............._....._ ......_._.....••••,.._......._. 13 $ _......................................_.._.._._............._................._.._._..._._._........................... 2,463,630 $ - -. ,Monies Made Available Durin Fiscal Year 14 $ 3,160,578 $ 137,931 Total Monies Available (Sum Lines 13 & 14) _........... _........................... __..._.._....._........__.............-........._ 15 $ ..................._.._..............__._..__..._................__.._....._...___.........._...._...... 5,624,208 $ 137,931 IExpenditures During Fiscal Year 16 $ 2,540,468 $ 137,931 Balances at End of Fiscal Year ... A-M `Freewa ....P ro' ects•.•......... ..•..........._...._...._........_......_.........•......••....•...........__..•............•............•................. •. . $ - $ ....Y.. _............. ..••,..,..••..._,M•.........._..,........••.•.....,..........._.. :Regional Capacity Program (RCP) .....T w __.._ .... .. 18 ...._..__...,..•.._• ..._.,•.........,.••... $ ..._....._....._....._•................._........ 503,349 __....._.............._.............,.__...._•.......•................... ......w.......,......•..•........•....•,.....' $ P ;Regional Traffic Signal Synchronization Program (RTS.... SP) 19 $ - $ - _.Q. �...._ ._...._............._....,_.._..........•.•.._.._....._._..•.__..........•....,.•............._._....._.•..................... ..... ............. _... =Local Fair Share ........ ... ......•........ 20 ....$._ .... _ ...... ........ .._........• ..._..... _.. .... 3,086,805 ....$_....._.....•........_...._.........._ .-...•......- _._........_,_...._,.........._..... ___................................................._.._.....•..•.......•...•................._......_...._............._.........__...._.__........._...._.......................__ R :High Frequency Metrolink Service 21 _.........._............_..... $ _ _ _....._...._.........._...__... - $ _,._........_.,...................._._ - S °Transit Extensions to Metrolink ......._. 22 _. ............_ $ _ .................... - _..............__.........................__._..._._............_. $ - T. ConvertMetrolinkStation(s) to Regional Gateways that 23 $ $ ;connect Orange County with High -Speed Rail Systems __...__....•............_....._._...._......_ .._......_•.•..•...-.....,._..._....._.....•.._..............._•............-..._.._..._..............._•._._................. .............. _....._....,__....._............. ...... ........ ...._... ....,._.......... ............... .... _..._._...-_.............................. -Emergency Medical D Senior Mobility Program or Senior Non''......._...._......_.........._.•...• 24 $ $ _..__.._- Program .................._.-......... ...... _..... .............. ......._......_._.............•._........•-.___ ..............._...._....._•_-_. ._.._._...........•........_..... V=Co . .................._.._....._..._........•...._.,..........._._._...........••....•.............._..._._......_......_..........................._._......... W:Safe Transit Stops •.. _....... 2 _....._._........_.._._....__.. _......................._......_......_........._ X ;Environmental Cleanup Program (Water quality) .-.,..4.-................. .... 27 -...__.......................................,.__................ $ - _..._....... $ -.._...._..._....•.... - .......-......................,... .......• ........., ;Other* 28 ...w.....,...... $ ...,......-._...� .......,.......o....�.-,....,........- Based on comments from OCTA regarding the City's M2 expenditure report for the fiscal year ended June 30, 2022, cash balances are reported for projects 0, V, and X, and fund balance is reported for project Q. Note 2 - As requested by OCTA, ($267,210) of project X's beginning cash balance is being reported on line 11 of schedule 1, and ($15,290) of project X's beginning cash balance is being reported on line 12 of schedule 1. 4-7 City of Newport Beach M2 Expenditure Report Schedule 2 Fiscal Year Ended June 30, 2024 Sources and Uses Description Line Amount Interest No. Revenues: _.....:.............. :.:...... ....._........ .... ........ .............................:._.....:............. ....... ... ....... _....... _.............. ...... _......... ..._................ ........ ...._.__........ ............................ A-M'Freeway Projects 1 $ - $ - ...,..:,......a:....:...:,.:..,.....:...........::..:.........-.,.......,.-:.............................................................:.,,...,............,:,..::::,..-..::.........:,.,..:.,.,.....,....,...........:...:..,..:....,............_............. ram (RCP} ..-......, ..........:................................., ..............-...,...:....:.......... .ORei�onalCapacity.Pro ............................._................_.......,.........:........_._._.............._..:__._..................:.........................................$...................__.........._....._.._.......-.....$.._.._....._........._.................:....'.. P 'Regional Traffic Signal Synchronization Program (RTSSP) 3 $ - $ - _.._...e.....................:.............._ .._......._—...... .. .:.:......_.._......_.......:_._.......__....... ._......__....... ............... ......_._._.._.........:...: Q _Local Fair Share 4 .............. $ .._........_...... ...... ...-..__..........._....._. 2,565,014 $ ... ...................,.................... .. 135,501 _._.....e.._......_..:.._......._......_........_............:..............._.._....._,..........:............._.._................._..._............:...:..._.._............................-......:........:............................._. High Fre uenc Metrolink Service 5 ,:.:...:......................_.._........_............_...:................_...._......................-.....:........ $.:::.:....:......:....-:.:. ....:......:.:.....:......,....:..,........:" .R.: ..9...::.:... -Y.... ..............:::......::..............-..._..........................::_..::...::...................................... S 'Transit Extensions to Metrolink __._t...._......._........................... _..:-.............................._:.(.. _._.....:.....g,.....:....................................y........................._....-................_...._....._........................_.._......._..................................._....__........:......::..............................._...........................:.....:...... ... ...: 6 $ .................,- - $ - :Convert Metrolink Stations to Regional Gateways that connect T 7 $ $ iOrange County with High -Speed Rail Systems _..........._..._........................_.........-:_.......�..................................,.._........_._......................_.....,..._......_...... ................._............._........_.......................:............__..__........... U Ii enior Mobility Program or Senior Non -Emergency Medical Program 8 .... .......:::..........-. $ ... _._........W.............. 191,633 _........... $ ......._................,._........_... 2,430 ............................._..... _....................._...._..............................._.._......_............................._.......-_-.._..........................................__._....._.,..:........................._......_................................-._............._................. V :Communit Based Transit/Circulators 9 $ 121,431 ............._ $ ... ..._............... .... - .........Y.................................................................,...................:.:....:........:......:::........::::.:...........:,_.._.........:......:,.:..:::.::,..::::::.. W `Safe Transit Sto s o_..-_.._..............._._._.... __......:....._........._..__.._...._...__........................_.............................................................._..._._...._....._...__._............._....... . 10 $ ......,....W........:,.:.....:.::.... - $ .......... .... - X iEnvironmental Cleanup Water y) (Note 2 Below) Quality) p Q 11 $ 267,210 $ - ;Other* (Note 2 Below) 12 $ 15,290 $ - TOTAL REVENUES (Sum lines 1 to 12) 13 $ 3,160,578 $ 137,931 Expenditures: ..... ......... ...._..-............. .......... ................::......_.._..._....................................._...._..............._..........._.........._.__......_.........._....._........._ 14 $ - $ - A-M=Freeway Projects O:Regional Capacity.Pro ram (RCP).................... .....:...:....._.. _..._.._..........._......_................___._........_................_..._......._15......_...:.$.........:._......__..._ 24,213:::....$...__...._....__..._.._.............................. __...._-_._...................-............__._._..._.................._......._........_.-........:..:.................:......._.._..................-......................_.. _..._............_......._......__......._...._....... P Regional Traffi icSignal Synchronization Program (RTSSP) .............:..............._......... 16 $ _......_.....__......................_._.._____.............................. - $ - .o..-..... ....: .... ..................M.............,......................._.. Q Sh......:..........:.............._......_...._._._......................................._..............._:...._................................................................... Fair Share.......... .....-... 17.. ..........- $.........._..._. ._...................... 2,123,2..91 $ ................... 135 501 ..................ir -...._._..Local R Metrolink Service _.._._.._.. ................... 18 $ ....._......._........_. - _..._......_....................._.._... $ - _....__._.......,..:...:.....:........_..._._......._.:............._._.._...__.._._......__................_..........._...._...._................:.....:..................__................._...._..:........._.........__..............::..........._.......................__.................._......_........_.._............._......._ S;Transit Extensions to Metrolink 1 Station(s)_..................................._.........._..._..........._., T-'Orange . 20 $ ..::............._...-:.....:....:..._........... $ County with High -Speed Rail Systems ....................._....._................ ........... _...._ .._........... ...... .._ ._..._.... _........ ...._................. ........_... _....._. U _Senior Mobility Program or Senior Non Emergency Medical $ 191,633 $ 2,430 ._.....w......_....._.........._ -Program V 'Community Based Transit/Circulators m21 22 $ ........... _._._.........._......._...._._ 201,331 $ _.........._.._._..... - .._....:._......_..................._.._....._.._......._.........._._..._.............................................._.....-.............. W =Safe Transit Stops 23 $ .....__.-.... - ....__.. ...... ._.................. ......:.............. .....,....... ... -:......... ................::,.....:.:............................................. X- Environmental Cleanup Program Water uali ) .. 24 .. ....... ......_._........_............._........_. ..�:...............:.....:....._....... - _.........__..........._. _.........................___ 'Other* .._.. 25 _.._..........__...__..__..__ $ - $ rTOTALEXPENDITURES (Sum lines 14 to 2S) 26 $ 2,540,468 $ 137,931 BALANCE (Subtract line 26 from 13) 27 $ 620,110 $ - Based on comments from OCTA regarding the City's M2 expenditure report for the fiscal year ended June 30, 2022, projects 0, V, and X are reported on a cash basis, and project Q is reported on a modified accrual basis. Note 2 - As requested by OCTA, $267,210 of project X's revenue is being reported on line 11 of schedule 2, and $15,290 of project X's revenue is being reported on line 12 of schedule 2. The $267,210 of project X revenue is cash basis revenue received from OCTA. The $15,290 of project X revenue is a transfer from the city's general fund because of expenditures in prior fiscal years that are not being reimbursed by OCTA. K City of Newport Beach $dtedule3 M2 Expenditure Report Fiscal Year Ended June 30, 2024 Streets and Roads Detailed Use of Funds tine Developer/ O P q X Other Other Type of Expenditure No. MOE impact Fees 0 Interest P Interest q Interest x Interest M2s MZ merest Other' TOTAL Indirad and/or OvMlead 1 $ 12,030,691 $ - $ - $ - S - $ - $ - $ - $ - $ - $ - $ - $ - $ 12,030,691 Construction & RlghFof-Way New Street Constna on 2 $ - $ - $ - $ - $ - $ - $ - $ $ - $ - $ Street Recomtmetim 3 $ 2,130,297 $ $ $ - $ $ - $ - $ - $ - $ - $ $ 2,123,291 -$ $ 135501 $ - - 5 - $ - $ - $ - $ - $ - $ - $Pedesmlan $ 4,389,089 Signals, Safety Devices, & Street Lights 4 $ - Ways&B&epatht5__._ - li $ $ $ $ $ $Storm Damage 7 $ $ $ - $ $ $ - $ $ - $ $ - $ oral Cotutructbns 8 S 3,130,297 $ - $ - $ $ - $ - $ 2,123,291 $ 135,501 S_ 5 Right at Wa B yAcquhition 9 $ - $ $ _ $ _ S ._._.__.___. 5 ___ S__� S—_.— __" $ - _ _- S - $ Total Casntructian&Rlghto&Way 10 $ 2,130,297 $ - $ - $ - $ - $ - $ 2,123,291 $ 135,501 $ - $ - $ - $ - $ - $ 4",089 Malnt¢na cn e____�._-__._..__..r.....�.__ Patching _ •__T_ N 11 S 64,798 S - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ O-HayBSealing 12 $ 1,518,600 $ - $ - $ - $ $ - $ - S S S $ _._._-.._— _.__.__.._.. _..._..._..._,_.. $ 1$IB,600 __________ Street Llghts8TlaiRc Signals 13 $ 3,336,614 _�.... $ - $ $ $ 3,336,614 Storm Damage 14 $ - $ Other Street Purpose Maintenance ]5 S 3,281,313 $ - $ - $ - $ $ - $ - $ - $ - $ - $ $ - $ $ 3,282,313 Total Malntenanoes 16 $ 8,201,325 $ - $ - $ - $ - $ - $ - $ - $ - $ $ - $ - $ - $ 8,201,325 Other 17 $ - $ 24,213 $ - $ - $ - $ - $ - $ $ $ 392,9fi4 $ 2,430 $ - $ 419,607 18 $ 22,362,313 $ - $ 24,213 $ - $ - $ - $ 2,123,291 $ 135,5U1 $ - $ - $ 392,960 $ 27130 $ - $ 25,040,71Z GRAND TOTALS (Sum Lines 1, 10, 16,17( Any California State Constitution Article XIX streets and road eligible expenditure may be'eeunted• In local jurisdictions' cakvWOo, of MOE if the activity is supported (funded( by a local jusitdlct ur s' discretionary funds (e.g. general fund(. The California State Controller also provides useful information on Article XIX and the Streets and Highways Code eligible expenditures in Its •Guldellnes Relating to Gas Tax Expenditures for Cities and Counties". I have reviewed and am Finance Director Confirmation 19 aware of these guidelines and their appilcablliry In calculating and reporting on Maintenance of Effort expenditures. FIname Director Initial: Ir s Includes direct charges for staff time t Other M21ndudes A-M, R,S,T,U,V, and W . T2nspprtati4n rehled only • Please provide a specific description Project Os other expenditures represent design expenditures for the West Coast Highway IntenWion Improvements & Pedestrian Bridge. Leaend emled - DesvipOOD A-M Free Projects 0 Regonal Capacity Prot.. (RCP( P Reg] 2al Tret8cSiSignal Synchronization 1117M q local Falr Share R JHIghF u n Metolink Serrlca 5[Transit Extensions to Metrolink T Convert Metrolink Station(s) to Regional Gateways that tanned Orange County with High -Speed Rail Systems U ogram or Senior Non- Emergency Medical Program V T—LIDrculators W M.......'Program(wate'Clusiftyl X m Waterqua City of Newport Beach Schedule 4 M2 Expenditure Report Fiscal Year Ended June 30, 2024 Local Fair Share Project List PROJECT NAME AMOUNT EXPENDED Newport Coast Dr Pavement Rehab (12201-980000-22R14) $ 1,311,250 ......................._._......_.........._......._....__..._._........._._....._......_.._.__............._..._..._.._.._...._.-......_........,..._............,.....__............................._............_....,_.._._.............. ... ......__ . 80000-23R11) $ 936,517 East Coast Hwy Pavement Rehab(12201-9.,,,.....................-............,.....,......,.........,......_.,.....,........,......._.,..... ..,_.......,....,...,..._.............. ... San Miguel Drive Pavement Rehab (12201-980000-231113) $ 11,025 $ 2,258,792 4-10 City of Newport Beach Signature Page M2 Expenditure Report Fiscal Year Ended June 30, 2024 I hereby certify that: 0 All the information attached herein and included in schedules 1 through 4 is true and accurate to the best of my knowledge; 0 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; 0 The City of Newport Beach is aware of the State Controller's "Guidelines Relating to Gas Tax Expenditures for Cities and Counties", which is a guide for determining MOE Expenditures for M2 Eligibility purposes; 0 The City's Expenditure Report is in compliance with direction provided in the State Controller's "Guidelines Relating to Gas Tax Expenditures for Cities and Counties;" and 0 The City of Newport Beach has expended in this fiscal year an amount of local discretionary funds for streets and roads purposes at least equal to or exceeding the FY 2023-24 MOE benchmark dollar amount" Jason AI -Imam Director of Finance (Print Name) QOt M iV4l�JU' �ltf� ,. Signature Jo12.3Jz4 Date " Jurisdictions are encouraged to submit MOE eligible expenditures higher than their MOE benchmark, so that should certain expenses be ruled ineligible during an MOE audit, the local jurisdiction still has sufficient MOE expenditures to demonstrate continued achievement of the MOE benchmark. 4-11