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~J <br />z'~i1+3,t?i~tlf ~h/o2E1~C3ts~'.5.?2C'"fit <br />L. <br />In 2005, MWMC adopted a new Financial Plan. Set by the <br />partner agencies in the IGA, the following objectives are <br />reflected in the Financial Plan: <br />• Maintain revenue adequacy to provide for long-term <br />financial health and stability; <br />• Fully fund capital improvements needed for <br />long-term asset preservation, capacity and regulatory <br />needs; <br />• Ensure equity across system users, current and <br />future; <br />• Ensure efficient and cost-effective financial <br />administration; and <br />• Comply with all applicable laws and regulations. <br />Five separate sections define specific policies for financial <br />forecasting and budgeting, investment of liquid assets, <br />capital planning and financing, rate setting and asset <br />management. This body of work provides clear guidance <br />for responsible and conservative fiscal administration that <br />will meet the expectations of the financial markets and <br />ultimately benefit the ratepayers. <br />~,__,. <br />~,~ ~?1~1i~~~iE~~~.aj ~~r~a~;'i~ <br />For 28 years, MWMC and the partner agencies have <br />tapped the strengths and resources of our respective <br />organizations to effectively and efficiently manage the <br />regional wastewater system. 2005 marked the begin- <br />ning of a new era for MWMC as the plans for afull- <br />scale upgrade and expansion of the Regional Wastewater <br />Facilities began to take shape. The organization, initially <br />staffed to operate, maintain and make only <br />modest additions to the facilities, needed to grow <br />to respond to the challenge of implementing the <br />twenty-year facilities plan. With the assistance of <br />an internationally-recognized expert in facilities <br />construction management, MWMC assessed the <br />Springfield and Eugene staffing, organizational <br />structure, and processes for managing our capital <br />programs. This assessment resulted in "right- <br />sized" staffing, improved interagency project <br />management practices, and implementation of <br />automated systems, enabling MWMC to grow to <br />proficiently meet the challenges ahead. <br /> <br /> <br />,, <br /> <br />