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INTRODUCTION AND PURPOSE <br />The 2005 Metropolitan Wastewater Management Commission (MWMC) Financial Plan updates <br />goals and policies originally set forth in the 2003 MWMC Financial Master Plan. This Plan, in <br />conjunction with municipal, State, and Federal law, is intended to guide the fmancial <br />administration of the Eugene/Springfield Regional Wastewater Program (RWP) through the <br />coming decade. <br />Financial administration of the RWP is directed toward achieving the following objectives as <br />required by Section 3.f. of the MWMC Intergovernmental Agreement (IGA): <br />1. Establishing revenue adequacy to provide for long-term health and stability of the regional <br />sewerage facilities through a program of monthly sewer user charges, and system <br />development charges that are imposed uniformly throughout the service area to achieve full <br />cost recovery; <br />2. Fully funding the needs for equipment replacement and major rehabilitation to address the <br />long-term preservation of the Regional Sewerage Facility capital assets; <br />3. Fully funding a program of capital improvements to address capacity, regulatory and <br />efficiency/effectiveness needs; <br />4. Ensuring equity between newly connected and previously connected users for their total <br />contributions toward the Regional Sewerage Facilities; <br />5. Ensuring equity among various classes of users based on the volume, strength and flow rate <br />characteristics of their discharges together with any other relevant factors identified by the <br />Commission; <br />6. Ensuring efficient and cost-effective fmancial administration of the Regional Sewerage <br />Facilities; and <br />7. Complying with applicable laws and regulations including those governing the <br />establishment of user charges and the establishment of system development charges <br />pursuant to ORS 223.297 et seq. <br />To address these objectives, this Financial Plan contains sections and appendices detailing the <br />financing history of the MWMC, financing options for the future, and fmancial strategies and <br />policies, and the Capital Financing Plan, a companion to this document, provides more detailed <br />information on the Commissions' long-range Capital Improvement Projects and projected <br />funding sources. <br />The fmancial policies and strategies in this plan provide guidance to the Commission and staff in <br />daily operations, annual budgeting and rate setting, and decision-making when considering <br />competing projects or revenue sources. <br />2005 MWMC Financial Plan Page 1 <br />