Item 36 - Resolution Approving the FY 2024-25 Measure M2 Year End Report

Home Browse Search

EXHIBIT 2 RESOLUTION NO. 2025-XX A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA ANA CONCERNING THE MEASURE M2 (M2) EXPENDITURE REPORT FOR THE CITY OF SANTA ANA BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS FOLLOWS: Section 1. The City Council of the City of Santa Ana hereby finds, determines and declares as follows: A. Local jurisdictions are required to meet eligibility requirements and submit eligibility verification packages to the Orange County Transportation Authority (OCTA) in order to remain eligible to receive M2 funds. B. Local jurisdictions are required to adopt an annual M2 Expenditure Report as part of one of the eligibility requirements. C. Local jurisdictions are required to account for Net Revenues, developer/traffic impact fees, and funds expended by local jurisdiction in the M2 Expenditure Report that satisfy the Maintenance of Effort requirements. D. The M2 Expenditure Report shall include all Net Revenue fund balances, interest earned and expenditures identified by type and program or project. E. The M2 Expenditure Report must be adopted and submitted to the 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. Section 2.The City Council of the City of Santa Ana hereby finds that the FY 2024/25 Measure M2 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. Section 3. The M2 Expenditure Report is hereby adopted by the City of Santa Ana. Section 4. The City of Santa AnaFinance Director is hereby authorized to sign and submit the M2 Expenditure Report to OCTA for the fiscal year ending June 30, 2025. Resolution No. 2025-XXX Page 1 of 2