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Request for HRA Action <br />Date: 02-21-12 <br />Item No: 9.a. <br />Director Approval: Agenda Section: <br /> Action <br />Description: Adoption of Final 2012 RHRA Budget (HF0095) <br />Requested Action: <br />The RHRA should review the final budget prepared by staff and reviewed by the RHRA Finance <br />Subcommittee and consider approval of the 2012 RHRA budget. <br />2012 RHRA Budget Details <br />The RHRA previously adopted a preliminary budget at a previous meeting. Staff is bringing the <br />final budget to reflect the actual carry-over of funds from 2011 (the preliminary budget estimated <br />the amount of the expected carry-over) as well as accounting for unexpected revenue from <br />higher interest earnings and recovery of funds from a previous loan to 2018 Hamline Ave. <br />th <br />The RHRA Finance Subcommittee met on February 9 and reviewed the proposed budget and <br />recommends its approval. <br />Staff will review the budget in detail at the meeting. However, it should be noted that the excess <br />revenue have been mostly placed into the “Reserves” line item of the budget. Staff and the <br />Finance Sub-Committee have indicated that based on the results of the strategic planning efforts, <br />the RHRA, at a future date, may want to consider amending the budget and move some of the <br />reserve dollars to fund programs/initiatives identified as part of the new strategic plan. <br />Staff Recommendation: <br />Staff recommends that the RHRA Board approves the final 2012 RHRA Budget. <br />Suggested RHRA Action: <br />Motion to approve the final 2012 RHRA Budget. <br />Prepared by: Patrick Trudgeon, RHRA Executive Director (651) 792-7071 <br />Attachments: A. Final 2012 RHRA Budget <br /> 2012 Final RHRA Budget <br /> <br />