City Council

11. ESTABLISHMENT OF A NEW FUND AND ACCOUNTS IN THE 2023-2024 AND 2024-\n2025 ADOPTED BUDGET – F2M23-17, M2M23-178\nOn May 25, 2017, the Los Angeles County Metropolitan Transportation Authority (Metro)\nBoard voted to eliminate the SR-710 North extension between Alhambra and Pasadena.\nThe following year, the Board authorized the programming of $730 million in Measure R\n7\n10-9-23\nfunds in support of local road improvements to provide traffic congestion relief within the\nregion. In 2020, Measure R funds were dedicated to cities and other areas impacted by\nthe SR-710 North. Alhambra received an allocation of approximately $241 million for Local\nStreet/Road and Freeway Local Interchange Mobility Improvements, Local Street\nIntersection Improvements, and Traffic Signal Synchronization Projects. Currently, the\nprojects are assigned together in Measure R and Measure M sections of the Budget. In\norder to manage the costs associated with each project and to track reimbursable\nexpenses, staff is requesting the Finance Department establish a new fund and separate\naccounts as outlined in the October 9, 2023 joint report of the Assistant City Manager and\nDirector of Public Works and Utilities.\nRecommended Action: City Council: 1) Authorize the Finance Director to set up a\nnew fund (Fund 235) for the SR 710 North Mobility Improvement Project to track all related\nMeasure R 710 transactions; 2) Authorize the Finance Director to establish revenue and\nexpenditure accounts to track each project; 3) Approve an appropriation in the amount of\n$72,375 in the 2022-23 Fiscal Year Adopted Budget; $28,527,625 in the 2023-24 Fiscal\nYear Adopted Budget; and $19,300,000 in the 2024-25 Fiscal Year Adopted Budget; and,\n4) Direct staff to undertake the steps necessary to finalize Council’s action. (M2M23-178)