2015-02-17_HRA_Agenda_Packet - Laserfiche WebLink

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Agenda 6.c. Attachment A Memo To: Jeanne Kelsey, Executive Director From: Chris Miller, Finance Director Date: February 10, 2015 Re: 2015 Administrative Fee for the HRA Jeanne, Based on our past practices for both stand-alone City activities and City-sponsored activities like the RVA, we typically charge a 5% administrative fee, based on the total operating budget. The administrative fee covers the costs of general services provide by the Finance and Administration Departments and would be separate from any services provided by Community Development Staff. It also covers various facilities charges. The administrative fee covers the following services: Process bi-weekly payroll and payment of invoices. Provide various financial reports and analysis including summaries of past and current revenues and expenditures. Provide assistance and guidance in the preparation of the HRAs annual budget. Coordinate the selection of a CPA firm and the preparation of all audit workpapers for the purposes of conducting an annual financial audit of the HRAs activities. Establish and maintain all banking and investment relationships and procedures. Maintain coverage for the HRA and its activities on the Citys property liability and work comp insurance policies. Provide HR support and guidance for Staff. Provide for the HRAs proportionate share of office space, office equipment & supplies, etc. The list of items shown above detail the regular on-going functions provided by City of Roseville Staff in the Finance and Administration Departments. Additional assistance is provided on an as needed basis. At 5% and a 2015 HRA Administrative Budget (General HRA Expenditures) of $170,443, the admin fee for 2015 would be $8,525, a decrease of $1,137 from the previous year. If you have any questions, please feel free to call me. Thanks.