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2008-01-15_Agenda
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2008-01-15_Agenda
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4/9/2015 4:03:37 PM
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Commission/Committee
Commission/Authority Name
Housing Redevelopment Authority
Commission/Committee - Document Type
Agenda/Packet
Commission/Committee - Meeting Date
1/15/2008
Commission/Committee - Meeting Type
Regular
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�i� <br />�.. <br />Memo <br />To: Pat Trudgeon <br />From: Chris Miller, Finance Director <br />Date: January 2, 2008 <br />Re: 2008 Administrative Fee for the HRA <br />Pat, <br />Based on our past practices for both stand-alone City activities and City-sponsored activities like <br />the RVA, we typically charge a 5% administrative fee, based on the total operating budget. The <br />administrative fee covers the costs of general services provide by the Finance and Administration <br />Departments and would be separate from any services provided by Community Development <br />Staf£ It also covers various facilities charges. <br />The administrative fee covers the following services: <br />❑ Process bi-weekly payroll and payment of invoices. <br />❑ Provide monthly reporting including summaries 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 the preparation of all audit workpapers for the <br />purposes of conducting an annual financial audit. <br />❑ Establish and maintain all banking and investment relationships and procedures. <br />❑ Provide for the proportionate share of office space, office supplies, etc. <br />❑ Maintain coverage for the HRA and its activities, on the City's insurance policies. <br />The list of items shown above detail the regular on-going functions provided by City of <br />Roseville Staff in the Finance and Administration Departments. Additional assistance is <br />provided on an as needed basis. <br />At 5% and a 2008 HRA Administrative Budget (excluding loan programs) of $68,250, the admin <br />fee for 2008 would be $3,400. If you have any questions, please feel free to call me. <br />Thanks. <br />
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