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Resolution to Approve Measure M2 Expenditure Report <br />December 17, 2024 <br />Page 2 <br />funds. The report accounts for receipt, interest earned, and use of M2 funds while <br />delineating the distribution of actual revenue and expenditures consistent with <br />requirements. Adoption of the Measure M2 Annual Expenditure Report by Resolution <br />(Exhibit 2) is a required eligibility element that must be submitted within six months of <br />the jurisdiction's fiscal year end. <br />Staff recommends that the City Council adopt a resolution to continue M2 funding <br />eligibility. <br />ENVIRONMENTAL IMPACT <br />There is no environmental impact associated with the action. <br />FISCAL IMPACT <br />Approval of the Recommended Action will maintain the City's eligibility to receive <br />Measure M2 funds annually. Upon renewal of Measure M2 eligibility, the City of Santa <br />Ana is anticipated to receive over $6 million in LFS funds and potentially over $8 million <br />in M2 competitive grant funds for Fiscal Year 2024-25. If the Recommended Action is <br />not approved, the City will lose access to all Measure M2 funding. <br />EXHIBIT(S) <br />1. Measure M2 Year -End Expenditure Report <br />2. Resolution — M2 Year -End Expenditure Report <br />Submitted By: Nabil Saba, P.E., Executive Director — Public Works Agency <br />Approved By: Alvaro Nunez, City Manager <br />City Council 26 — 2 12/17/2024 <br />