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13 <br /> Memorandum of Agreement <br /> Triangle Water Supply Partnership <br /> c) 5-Year Project and Funding Plan: Each year the Partnership will develop a 5-Year <br /> Project and Funding Plan including a current-year Annual Budget. The 5-Year <br /> Project and Funding Plan will include the associated dues contribution schedule <br /> required to provide funds to support Partnership Management and regular and <br /> ongoing projects, as well as to accumulate money reserved for Projects that may <br /> require several years of accumulated funds to accomplish, and to maintain a <br /> minimum balance of approximately$50,000 in the Partnership Operating Fund. <br /> Exhibit 1, attached hereto and incorporated herein by reference, contains the <br /> Partnership's initial 5-Year Project and Funding Plan. <br /> d) Cost-Shared Funding: Participants should give special consideration to projects <br /> that can take advantage of cost-shared funding from outside partners to leverage <br /> the Partnership Operating Fund's budgets. <br /> e) Project Financial Restrictions: The Partnership does not intend to take on debt or <br /> financial liabilities. Projects will be funded only to levels that do not exceed the <br /> Dues collected in any year plus money from previous year collections reserved for <br /> Projects that may require several years of accumulated funds to accomplish. <br /> Multi-year Project contracts will include a per-year not-to exceed requirement that <br /> is consistent with the portion of the existing Partnership Operating Fund set aside <br /> for that Project. <br /> 13)Project Management: <br /> a) Distribution of Funds -Any Participant may serve as the Project Lead Agency for <br /> any Project. The Partnership may fund Projects by authorizing the Fiscal Agent to <br /> make grants to the Project Lead Agency in installments, lump sum, or as may be <br /> appropriate for the Project. <br /> b) Project Manager(PM)—A PM will be approved for each Small or Large Project <br /> by Simple Majority Vote. A PM will be approved for each Special Project PM by <br /> affirmative vote of all participants in that Special Project. PM approval will be <br /> based on such factors as interest, capability, geographical location relative to the <br /> Project, size of the effort, and providing project management opportunities to all <br /> Participants. The PM will provide opportunities for the Participants to shape the <br /> scope of work, seek advice and counsel on proposals received and vendor <br /> selection, and provide regular status reports to the Participants. <br /> c) At a minimum, Project contracts shall include: <br /> i) A detailed scope of work statement <br /> ii) Schedules for completion of work and disbursement of funds <br /> iii) Funding requirement necessary and available to complete the scope of work <br /> iv) A per-year not-to-exceed requirement that is consistent with the portion of the <br /> existing Partnership Operating Fund appropriated to that project for the <br /> current year <br /> August 7, 2018 Page 11 of 35 <br />