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RHRA_ Consent for financial and admin services (06-20-06) - Page 1 of 2 REQUEST FOR HRA ACTION Date: 6-20 -06 Item No: 6.a. Staff Approval: Agenda Section: CB Consent Items Item Description: Approval of Financial and Staff service fee transfer of funds for June 2006 (HF0041) 1.0 Requested Action Approve, by consent, the transfer of funds from th e HRA funds to City of Roseville for financial and support staffing service per contract requirements for June 2006. 2.0 Background 2.1 The Contract for Financial Services is for a total of $3,275.50 or 5% of the HRA total administrative Budget for 2006 of $65,510. The fee is prorated monthly with a transfer of funds after approval by the HRA. The tota l monthly fee is $273. The fee is transferred from the HRA Fund to the General Fund of the City. The fiscal services provided to the HRA for the monthly fee are as follows: ♦ Process bi-weekly payment of invoices. ♦ Provide monthly reporting including summa ries of past and cu rrent revenues and expenditures. ♦ Provide assistance and guidance in the pr eparation of the HRA’s annual budget. ♦ Coordinate the selection of a CPA firm and the preparation of all audit work papers for the purposes of co nducting an annual financial audit. (Audit costs shall be paid by the HRA). ♦ Establish and maintain all banking and investment relationships and procedures. ♦ Provide for the proportionate share of office space, office supplies, etc. ♦ Maintain coverage for the HRA and its activ ities, on the City’s insurance policies. 2.2 The Contract for the Administrative Support Staff is for a total of $2,292.85 or 3.5% of the HRA total administrative Budget for 2006 of $65,510. The fee is prorated monthly with a transfer of funds after approval by the HRA. The total monthly fee is $191. The fee is transferred from the HRA Fund to the appropriate City department. The administrative support services provided to the HRA for the monthly fee are as follows: ♦ Facilitate the production of the HRA mont hly agenda packet as prepared by the HRA Executive Director and mail to HRA members and City Council members; ♦ Update information affecting the HRA on the City web page including the posting of meeting agenda and packet information prior to each monthly HRA meeting; and ♦ Other administrative support actions requested by the HRA Board.