RECEIVE and ACCEPT a financial report of the Measure X Transportation Safety and Investment Plan receipts and disbursements for the first twelve months from April 2017 through March 2018.

During this period the State Board of Equalization has collected and remitted $26,569,249.54 to the Monterey County Measure X fund and the fund has earned $58,438.67 of interest. During this period initial and onetime fees of $829,418.76, TAMC administrative costs of $195,209.87, Regional Projects and Programs costs of $237,527.20 and $15,304,115.12 of County and Cities 60% shares were disbursed.

The receipts of $26,569,249.54 for the first twelve months far exceeds the original estimate of $20,000,000.00. Some upfront costs were incurred such as for the election, State BOE Implementation, attorney work for agreements and pavement management implementation. The allocation formula for the 60% share for the 11 cities and the County is calculated using 50% lane miles and 50% population. Revenues are distributed to the cities and the County on a quarterly basis; four quarterly distributions totaling $15,304,115.12 have been made to the to the Cities and the County.

The Transportation Agency has fiduciary responsibility for the administration of the Transportation Safety and Investment Plan (Measure X) funds. Ordinance 2016-01 was passed by 67.7% of the Monterey County voters in November 2016 and started being collected effective April 1, 2017.

Measure X funds are divided into two programs: 
1. Local road maintenance, pothole repairs and safety: 60% of Measure X funds are allocated to the County of Monterey and incorporated cities for local street and road safety and maintenance improvements. 
2. Regional safety, mobility and walkability: 40% of Measure X funds are allocated to regional safety and congestion relief, transit and bicycle/pedestrian projects and expended on projects as prioritized in the Strategic Expenditure Plan.

Measure X, is anticipated to generate an estimated $20 million annually, for a total of $600 million over thirty years. The funding source is a retail transactions and use tax of 3/8 cents. The revenue from the sales tax measure can only be used to fund transportation safety and mobility projects in Monterey County. The trust fund’s administrative costs are paid for by the Transportation Agency for Monterey County and then reimbursed to the Agency as specified in the Measure X documents.