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Home My WebLink AboutRoadway Fund Update (6-10-24)1 FISCAL YEAR2024-25 Roadway Funds Roadway Restricted Funds FISCAL YEAR 2024-25 PROPOSED BUDGET 2 Formulaic Allocations: 1.Gas Tax 2.M2 Local Fair Share 3.SB-1 Roadway Maintenance and Rehabilitation Account (RMRA) Generally provided to eligible jurisdictions for use on allowable transportation planning and implementation activities, basic roadway maintenance, rehabilitation, and critical safety projects. Not intended to supplant the General Fund. Pavement Management Plan 3 FISCAL YEAR 2024-25 PROPOSED BUDGET •OCTA M2 Eligibility Requirement •Systematically rate pavement condition (PCI) - 78 •56.2% in Good Condition •34.7% in Fair Condition •9.1% in Poor Condition •Annual investment recommendation •Maintain PCI at 78 = $2.6 M •Increase PCI to 79 = $2.5-3.0 M Preservation ($) Resurface ($$) Major Rehabilitation ($$$) Reconstruction ($$$$) Proposed Fund Uses 4 FISCAL YEAR 2024-25 PROPOSED BUDGET SB-1 RMRA (209) •Almond Avenue Paving (FY 23/24) •Local Paving Program (FY 23/24) •Seal Beach Boulevard Arterial Rehabilitation (FY 24/25) Gas Tax (210) •Local Paving Program (FY 24/25) •Signing & Striping Program •Lampson Bike Trail Gap Closure (ATP Funds) •Main Street Improvements •Seal Beach Boulevard @ North Gate Road Improvements (PMRF Funds) •Safety Action Plan (SS4A Funds) M2 LFS (211) •Lampson Bike Trail Gap Closure (ATP Funds) •Slurry Seal Program •Seal Beach Boulevard @ North Gate Road Improvements (PMRF Funds) •ADA Improvements •Traffic Signal Improvements Maintenance of Effort (MOE) 5 FISCAL YEAR 2024-25 PROPOSED BUDGET Streets & road transportation-related discretionary expenditures using General funds or other non-transportation discretionary funds by local jurisdictions. •SB-1 RMRA MOE = $1,292,200 •OCTA LFS MOE = $733,847 City will be required to refund allocations if MOE is not met. Fund Balance 6 FISCAL YEAR 2024-25 PROPOSED BUDGET Estimated FYE 25 (6/30/25) Projected Fund Balance (209) SB 1 RMRA $207,700 (210) Gas Tax $71,800 (211) M2 LFS $168,500 Conclusion 7 FISCAL YEAR 2024-25 PROPOSED BUDGET FINDINGS •Volatile construction industry with increasing cost •Degradation of roadway system, resulting in claims, drivability, & pavement integrity •On-going and adequate investment will prevent costly longer-term repairs •Inadequate discretionary fund investment will result in County/State allocation forfeiture •M2 LFS is intended for aging infrastructure, and cannot be used for senior transportation. RECOMMENDATIONS •Keep fund balance for roadway investments, as proposed •Continue to invest in roadway rehabilitation to minimize exponentially more costly impacts to the City’s General Fund •Safeguard external funding allocations through proper discretionary fund appropriations