PROGRAM MANAGEMENT The TOC will meet next on February 11th, 2020. The December 10th, 2019 meeting was cancelled. Taxpayer Oversight Committee vacancies for 2020 will occur in the 2nd and 3rd Supervisorial Districts. The Grand Jurors Association of Orange County will select finalists after an extensive recruitment effort takes place in early spring. Prior to the next meeting OCTA CEO, Darrell Johnson, and Director of Marketing and Public Outreach, Alice Rogan, will be meeting with the newly appointed Auditor Controller, Frank Davies, to provide an orientation for the TOC and Measure M. Two subcommittees assist the TOC with their safeguard responsibilities: the Annual Eligibility Review (AER) Subcommittee and the Audit Subcommittee. The AER Subcommittee meets a few times per year, as needed, to ensure local jurisdictions have submitted the following documents in order to be deemed eligible to receive M2 funding: Congestion Management Program, Mitigation Fee Program, Local Traffic Signal Synchronization Plan, Pavement Management Plan, and an Expenditure Report. The Audit Subcommittee meets bi-monthly and is responsible for reviewing the quarterly M2 Revenue and Expenditure Reports and the Annual M2 Audit, as well as any other items related to M2 audits.
M2 FINANCING AND SCHEDULE OF FUNDING Contact: Sam Kaur, Revenue and Grants • (714) 560-5685 Revenue Forecast and Collection OCTA contracts with three universities (Chapman University; University of California, Los Angeles; and California State University, Fullerton) to provide a long-range forecast of taxable sales to forecast M2 revenues for purposes of planning projects and program expenditures. In the past, OCTA averaged the three university taxable sales projections to develop a long-range forecast of M2 taxable sales. On March 28, 2016, the Board approved a new sales tax forecast methodology as part of the FY 2016-17 budget development process. This methodology includes a more conservative approach by utilizing MuniServices, Inc forecast for the first five years and the three-university average for the remaining years. Revenue forecast information is updated quarterly based on the actual revenues received for the previous quarter. As required by law, OCTA pays the California Department of Tax and Fee Administration (CDTFA) a fee to collect the sales tax. The M2 Ordinance estimated this fee to be 1.5 percent of the revenues collected over the life of the program.
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