RES 97076 - Laserfiche WebLink

pOLICY ON REIMBURSEMENT OR CREDIT 1) All Measure B capital projects shall be completed as quickly as practical given funding and resource considerations. Project sponsors are encouraged to advance projects as rapidly as possible with the understanding that no project will jeopardize the funding of any other project. Expenditure Plan Project Sponsors, as defined in the Expenditure Plan, are recipient transportation agencies charged with maintenance of the completed work. 2) No expenditure of Measure B funds will be made to any capital project until all costs are detailed in Project Reports and the Authority has entered into a Project Agreement with the Project Sponsor. 3) Reimbursement does not allow the project to exceed the funding or the scope of the project as defined in the Expenditure Plan or as modified in the Annual Strategic Plan. 4) Project Sponsors who wish to expend their own funds in advance of a project agreement may do so. The Authority will reimburse funds expended or credit expenditures towards required local match if the expenditures meet the following requirements: a) Project expenditures were made after passage of Measure B. This requirement does not apply to incorporation of locally owned right of way where the estimated cost and the need to incorporate the right of way are made currently. b) Detailed records of expenditures are maintained and made available. c) All work can be demonstrated to be directly related to the project as defined in the Measure B Expenditure Plan and as agreed to in a signed local Agency/Authority agreement. d) The local agency's Governing Board formally requests reimbursement or credit. Approved: April 22° 1993 0258001 \22/,75 1.1 11 DRAFT January 21,