Agenda - 11-13-2018 6-c - Triangle Water Supply Partnership Memorandum of Agreement

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Memorandum of Agreement Triangle Water Supply Partnership August 7, 2018 Page 11 of 35 c) 5-Year Project and Funding Plan: Each year the Partnership will develop a 5-Year Project and Funding Plan including a current-year Annual Budget. The 5-Year Project and Funding Plan will include the associated dues contribution schedule required to provide funds to support Partnership Management and regular and ongoing projects, as well as to accumulate money reserved for Projects that may require several years of accumulated funds to accomplish, and to maintain a minimum balance of approximately $50,000 in the Partnership Operating Fund. Exhibit 1, attached hereto and incorporated herein by reference, contains the Partnership’s initial 5-Year Project and Funding Plan. d) Cost-Shared Funding: Participants should give special consideration to projects that can take advantage of cost-shared funding from outside partners to leverage the Partnership Operating Fund’s budgets. e) Project Financial Restrictions: The Partnership does not intend to take on debt or financial liabilities. Projects will be funded only to levels that do not exceed the Dues collected in any year plus money from previous year collections reserved for Projects that may require several years of accumulated funds to accomplish. Multi-year Project contracts will include a per-year not-to exceed requirement that is consistent with the portion of the existing Partnership Operating Fund set aside for that Project. 13) Project Management: a) Distribution of Funds - Any Participant may serve as the Project Lead Agency for any Project. The Partnership may fund Projects by authorizing the Fiscal Agent to make grants to the Project Lead Agency in installments, lump sum, or as may be appropriate for the Project. b) Project Manager (PM) – A PM will be approved for each Small or Large Project by Simple Majority Vote. A PM will be approved for each Special Project PM by affirmative vote of all participants in that Special Project. PM approval will be based on such factors as interest, capability, geographical location relative to the Project, size of the effort, and providing project management opportunities to all Participants. The PM will provide opportunities for the Participants to shape the scope of work, seek advice and counsel on proposals received and vendor selection, and provide regular status reports to the Participants. c) At a minimum, Project contracts shall include: i) A detailed scope of work statement ii) Schedules for completion of work and disbursement of funds iii) Funding requirement necessary and available to complete the scope of work iv) A per-year not-to-exceed requirement that is consistent with the portion of the existing Partnership Operating Fund appropriated to that project for the current year 15