HomeMy WebLinkAbout04 - Measure M2 Expenditure Report111010
CITY OF
NEWPORT BEACH
City Council Staff Report
Agenda Item No. 4
November 22, 2011
HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: Finance Department
Tracy McCraner, Finance Director /Treasurer
949 - 644 -3123, tmccraner @newportbeachca.gov
PREPARED BY: Rukshana Virany, Accounting Manager
APPROVED: � A
TITLE: Approval of Measure M2 Expenditure Report
ABSTRACT:
With the renewal of Measure M (M2), local jurisdictions, including the City, are required
submit an annual accounting of M2 revenue and expenditures to the Orange County
Transportation Authority (OCTA) by December 31 st of each year. Prior to submitting the
accounting to OCTA, the attached M2 Expenditure Report must be adopted by
resolution of the City Council.
RECOMMENDATION:
Adopt Resolution 2011- 103 approving the M2 Expenditure report, substantially to
form, subject to technical revisions in conformance with OCTA guidelines.
FUNDING REQUIREMENTS:
There is no funding required by this action. However, if this report is not filed, OCTA
could potentially suspend or delay M2 funding to the City.
DISCUSSION:
In 1990, Orange County voters approved Measure M, a 20 -year program for local
transportation improvements funded by half -cent sales tax and entrusted the newly
created Orange County Transportation Authority (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 old Measure M Plan ended
March 31, 2011. On November 7, 2006, Orange County voters renewed Measure M.
Measure M2 (M2) keeps the transportation improvements continuing for another 30
1
Approval of Measure M2 Expenditure Report
November 22, 2011
Page 2
years until 2041. With the passage of M2, local agencies must continue to demonstrate
eligibility. The M2 eligibility process began in the first quarter of FY 2010 -11 and will
continue on an annual basis. Local agencies were found conditionally eligible until all
outstanding M2 requirements were met. One new requirement emphasizes financial
accountability and requires each local agency to submit an expenditure report to the
Orange County Transportation Authority (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."
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).
Submitted by:
J�,"
Tracy McCraqkr
Finance Dire t r
Attachments: A. Measure M2 Expenditure Report
B. Resolution 2011 -103
2
City of Newport Beach
M2 Expenditure Report
Fiscal Year Ended June 30, 2011
Beginning and Ending Balances
Description
Line
No.
Amount
Balances at Beginning of Fiscal Year _.. -..
NERNMEN
... _
M2Fairshare
- -
1
$
M2FairshareInterest -
- .Z.
$ -._. .. _. ._.
.M2 CTFP
;M2 CTFP Interest _. - ..... ..
4__.
$ - -.._ ...
Other M2 Funding
5
$
'Other M2 interest
6
$
Other* _
7 _
$ _
Balances at Beginning of Fiscal Year (Sum Lines 1 to 7)
8
$ -
(Monies Made Available During Fiscal Year
9
$ 96,124
Total Monies Available (Sum Lines 8 8t 9)
10
$ 96,124
;Expenditures During Fiscal Year
11
$ -
Balances at End of Fiscal Year
1111101111
1111111111111TIM
Fairshare
12
$ 96_,124
_:M2
:M2 Fairshare Interest
13
$ -
...,M2 CTFP ... - . -.....
14 .....5
..
!M2 CTFP Interest _. . .. ... _- _..
15._...5
..._.- ...._.
:Other M2 Funding
16 .
$ _.
Other M2 Interest
17 _.
$ _
Other*
1g
$
* Please provide a specific description
CTFP - Combined Transportation Funding Program
Schedule 1
W
City of Newport Beach
M2 Expenditure Report
Fiscal Year Ended June 30, 2011
Sources and Uses
Description
Amount
:M2 Fairshare
1
$ 96,124
- -M2 Fairshare Interest -
10
2 -
$
!M2 MID
M2 CTFP Interest
3
$
IM2 CTFP Interest
4
$
';Other M2 Funding..... .... ...
14
..5 ....
$ ,.. ......
- •Other M2 Interest
6
$ -
Other*
7
$
TOTAL REVENUES (Sum lines 1 to 7)
8
5 96,124
�M2 Fairshare
9
!M2 Fairshare Interest
10
M2 CTFP I.. ... _.
_11.
M2 CTFP Interest
12
;Other M2 Funding
13
.....'Other W Interest _.._ .... , _..__.
.__...
14
EXPENDITURES (Sum lines 9 to 15) 1 16 1 5 - 1
ITOTAL BALANCE (Subtract line 16 from 8) I 17 I $ 96,124
* Please provide a specific description
Schedule 2
Cd
City of Newport Beach
M2 Expenditure Report
Fiscal Year Ended June 30, 2011
Streets and Roads Detailed Use of Funds
Schedule 3
Type of Expenditure
Line
No.
*MOE
+ Developer /
Impact Fees
M2 Fairshare
M2 Fairshare
Interest
M2 CTFP
M2 CTFP
Interest
Other M2
Other M2
Interest
Other
TOTAL
Agency Staff &Administration
1
$
9,466,537
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ 9,466,537
Construction & Right -of -Way
Mm
FORM
New Street Construction
$
-
$ 1,200,586
$
$ -
$ -
$ -
$ -
$
$ -
$ 1,200,586
:Street Reconstruction
3
_._.
$ ___..
$ -._ -..
S
- ._ -..$
$ _..._._
$ _. _._ -
5_.. __.$..
._._:.. ._-._. .._. -St _...__..
;Signals, Safety Devices, &Street Lights
.........
4
$
_....._..
-
._._.__.
$ 675,912
.......... _...__._
$ -
$ -
__... .___
$ -
_.. __
$ -
___
$ -
_..._
$ -
_.._.
$ -
__.... 2
$ 675,912
- :Pedestrian Ways & Bikepaths
5
$
-
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
.Storm Drains
6
$
-
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
.....__._ . _...... ....._... _____
'Storm Damage
...._......
7
$
......._..
-
.......,.
$ -
....._.._.. _..__.........
$ -
. . _.__..
$ -
$ -
$ -
$ -
$ -
__. _.
$ -
$ -
Total Construction
8
$
-
$ 1,876,498
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ 1,876,498
Right of way Acquisition
9
$
-
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$
Total Construction &Right -of -Way
30
$
-
$ 1,876,498
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ 1,876,498
Maintenance
...: Patching
11
$
-
$ -
$ -
$ -
$ -
$
$ _
$ _
$
$
:overlay &Sealing
12
$
106,778
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ 106,778
Street Lights &Traffic Signals
13
$
-
$ 211,619
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ 211,619
Damage
14
$
-
$ -
$ -
$
$ ._........_:
$ ....._._._...
$ _._..
$ __..
$
.....:Storm
;Other Street Purpose Maintenance
15
$
$ _
$ -
-$
$ -
..- ....5.
$ -
- .._.
$ _ _-
$
$ ,.... --
$ -- -._.
$ -_
.
Total Maintenance
$
106,778
$ 211,619
$
-....
$ -.
$-
$
$
$- 318,397
..$. _. __..
Other... __.... ...___ ..._...
-17.
$
_...._
$._.._....._.
$.__._
$ .. -.._$
...............
$ ......__..._
$ .._....
$
GRAND TOTALS (Sum Lines 1,10, 16,17)
18
$
9,573,315
$ 2,088,117
$ -
$ -
$ -
$ -
$ -
$
* Local funds used to satisfy maintenance of effort (MOE) requirements
+Transportation related only
5
City of Newport Beach
M2 Expenditure Report
Fiscal Year Ended June 30, 2011
Fairshare Project List
Schedule 4
5 -
11
City of Newport Beach
I certify that all the information attached herein is true and accurate to the best of my knowledge:
Director r o an
7
RESOLUTION NO. 2011-
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
NEWPORT BEACH CONCERNING THE MEASURE M2
EXPENDITURE REPORT FOR THE CITY OF NEWPORT
BEACH
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 of Newport Beach, does
hereby inform OCTA that:
a) The M2 Expenditure Report is in conformance with the 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 M2 Expenditure Report is hereby adopted for the City of Newport
Beach.
ADOPTED this 22nd day of November 2011.
Mayor
ATTEST:
City Clerk
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