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Memo <br />To: Roseville HRA Board <br />From: Chris Miller, Finance Director <br />Date: January 9, 2007 <br />Re: Administrative Fee for the HRA - 2007 <br /> <br /> <br />Based on our past practices for bot h stand-alone City activities a nd City-sponsored activities like <br />the RVA, we typically charge a 5% Administrative fee, base d on the total operating budget and <br />have done so for the HRA for the past several year s. The administrative fee covers the costs of <br />general services provide by the Finance and Administration Departments and would be in <br />addition to any direct charges for staff salaries . It also covers vari ous facilities charges. <br /> <br />The administrative fee covers the following services: <br /> Process bi-weekly payroll and payment of invoices. <br /> Provide monthly reporting including summar ies of past and current revenues and <br />expenditures. <br /> Provide assistance and guidance in the preparation of the HRA’s annual budget. <br /> Coordinate the selection of a CPA firm and th e preparation of all audit workpapers for the <br />purposes of conducting an annual financial audit. <br /> Establish and maintain all banking and investment rela tionships and procedures. <br /> Provide for the proportionate share of office space, office supplies, etc. <br /> Maintain coverage for the HRA and its activ ities, on the City’s insurance policies. <br /> <br />The list of items shown above detail the re gular on-going functions provided by City of <br />Roseville Staff in the Finance and Administra tion Departments. Additional assistance is <br />provided on an as needed basis. <br /> <br />At 5% and with a general administrative budget of $68,250 the admin fee for 2007 would be <br />approximately $3,400. If you have any ques tions, please feel free to call me. <br /> <br />Thanks.