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2006-01-17_Agenda
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2006-01-17_Agenda
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10/25/2011 8:05:06 AM
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Commission/Committee
Commission/Authority Name
Housing Redevelopment Authority
Commission/Committee - Document Type
Agenda/Packet
Commission/Committee - Meeting Date
1/17/2006
Commission/Committee - Meeting Type
Regular
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Memo <br />To: Cathy Bennett <br />From: Chris Miller, Finance Director <br />Date: January 4, 2006 <br />Re: Administrative Fee for the HRA <br /> <br /> <br />Cathy, <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, 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 in addition to any dire ct charges for your sala ry. It also covers <br />various 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 an administrative budget of $65,510 the admin fee for 2006 would be $3,275.50. If <br />you have any questions, pleas e feel free to call me. <br /> <br />Thanks.
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