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Attachment A <br /> Memo <br /> 2 To: Pat Trudgeon, Community Development Director <br /> 3 From: Chris Miller,Finance Director <br /> 4 Date: December 20,2011 <br /> 5 Re: 2012 Administrative Fee for the FIRA <br /> K <br /> 7 <br /> 8 Pat, <br /> 9 <br /> 10 Based on our past practices for both stand-alone City activities and City-sponsored activities like <br /> 11 the RVA, we typically charge a 5% administrative fee, based on the total operating budget. The <br /> 12 administrative fee covers the costs of general services provide by the Finance and Administration <br /> 13 Departments and would be separate from any services provided by Community Development <br /> 14 Staff. It also covers various facilities charges. <br /> 15 <br /> 16 The administrative fee covers the following services: <br /> 17 <br /> 18 ❑ Process bi-weekly payroll and payment of invoices. <br /> 19 ❑ Provide monthly reporting including summaries of past and current revenues and <br /> 20 expenditures. <br /> 21 ❑ Provide assistance and guidance in the preparation of the IRA's annual budget. <br /> 22 ❑ Coordinate the selection of a CPA firm and the preparation of all audit workpapers for the <br /> 23 purposes of conducting an annual financial audit. <br /> 24 ❑ Establish and maintain all banking and investment relationships and procedures. <br /> 25 ❑ Provide for the proportionate share of office space, office supplies, etc. <br /> 26 ❑ Maintain coverage for the IRA and its activities, on the City's insurance policies. <br /> 27 <br /> 28 The list of items shown above detail the regular on-going functions provided by City of <br /> 29 Roseville Staff in the Finance and Administration Departments. Additional assistance is <br /> 30 provided on an as needed basis. <br /> 31 <br /> 32 At 5% and a 2011 IRA Administrative Budget (excluding loan programs) of $103,454, the <br /> 33 admin fee for 2011 would be $5,173. If you have any questions, please feel free to call me. <br /> 34 <br /> 35 Thanks. <br /> 36 <br />