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Attachment A <br />Memo <br />1 <br />To: <br />2 Pat Trudgeon, Community Development Director <br />From: <br />3 Chris Miller, Finance Director <br />Date: <br />4 December 20, 2011 <br />Re: <br />52012 Administrative Fee for the HRA <br />6 <br />7 <br />8Pat, <br />9 <br />10Based on our past practices for both stand-alone City activities and City-sponsored activities like <br />11the RVA, we typically charge a 5% administrative fee, based on the total operating budget. The <br />12administrative fee covers the costs of general services provide by the Finance and Administration <br />13Departments and would be separate from any services provided by Community Development <br />14Staff. It also covers various facilities charges. <br />15 <br />16The administrative fee covers the following services: <br />17 <br />18Process bi-weekly payroll and payment of invoices. <br />19Provide monthly reporting including summaries of past and current revenues and <br />20expenditures. <br />21Provide assistance and guidance in the preparation of the HRA’s annual budget. <br />22Coordinate the selection of a CPA firm and the preparation of all audit workpapers for the <br />23purposes of conducting an annual financial audit. <br />24Establish and maintain all banking and investment relationships and procedures. <br />25Provide for the proportionate share of office space, office supplies, etc. <br />26Maintain coverage for the HRA and its activities, on the City’s insurance policies. <br />27 <br />28The list of items shown above detail the regular on-going functions provided by City of <br />29Roseville Staff in the Finance and Administration Departments. Additional assistance is <br />30provided on an as needed basis. <br />31 <br />32At 5% and a 2011 HRA Administrative Budget (excluding loan programs) of $103,454, the <br />33admin fee for 2011 would be $5,173. If you have any questions, please feel free to call me. <br />34 <br />35Thanks. <br />36 <br /> <br />