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REQUEST FOR HRA ACTION <br />Date: 5-19-15 <br />Item No: 6c. <br />Staff Approval: Agenda Section: <br /> <br />Item Description: Quarterly Financial Summary <br />Background <br />11.0 <br />2The following are the balances in the HRA’s asset accounts for the first quarter of 2015. <br />3 <br />4When we return to full staffing, we will be looking at revising the quarterly financial summary <br />5reporting template in order to provide the Board with a better understanding of the funds at its <br />6disposal and limitations on their use (where applicable). The current templates date back to the <br />7early days of the HRA and do not appear to be as informative as they could be. If any Board <br />8members have any suggestions regarding template changes they would like to see, please contact <br />9me at paul.bilotta@cityofroseville.com. <br />10 <br />11Staff is currently performing a similar, although much larger, effort with the reporting of Tax <br />12Increment Financing (TIF) for the City Council. When it is complete, Staff will also share the <br />13TIF information with the HRA since HRA redevelopment projects may need to use TIF as a tool <br />14as well. TIF is administered by the City Council, but most redevelopment efforts of any <br />15significant size could necessitate the use of redevelopment tools from both policy bodies’ <br />16toolkits. <br />17 <br />18Our goal in both of these efforts is to provide the HRA and City Council with as much <br />19understanding and transparency as possible in order to support informed decision making. <br />20 <br />Suggested HRA Actions <br />212.0 <br />This item is provided for information purposes only. No action is required. <br />22 <br />23 <br />Prepared by: Paul Bilotta, Community Development Director (651-792-7071) <br />24 <br />Attachments: A: Fund balances <br />Quarterly Financial Summary (05-19-15) - Page 1 of 1 <br /> <br />