Roseville Economic Development Authority Fiscal Services Agreement-17_01_09

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ROSEVILLE ECONOMIC DEVELOPMENT AUTHORITY FISCAL SERVICES AGREEMENT THIS AGREEMENT is entered into as of the 9th day of January, 2017 by and between the Economic Development Authority (REDA) of Roseville, Minnesota, hereinafter referred to as the REDA, and the City of Roseville, a Minnesota municipal corporation, hereinafter referred to as the City. WITNESSETH: WHEREAS, the REDA desires to contract with the City for certain fiscal assistance services in connection with the operations and activities of the REDA. NOW THEREFORE, the parties hereto do mutually agree as follows: I. Scope of Services. The City shall perform necessary and requested services for the implementation of financial actions and activity of the REDA summarized as follows: A. Process bi-weekly payroll and payment of invoices. B. Provide monthly reporting including summaries of past and cunent revenues and expenditures. C. Provide assistance and guidance in the preparation of the REDA's annual budget. D. Coordinate the selection of a CPA firm and the preparation of all audit work papers for the purposes of conducting an annual financial audit. (Audit costs shall be paid by the REDA). E. Establish and maintain all banking and investment relationships and procedures. F. Provide for the proportionate share of, office space, office supplies, etc. G. Maintain coverage for the REDA and its activities, on the City's insurance policies. IL Term. This agreement shall be effective upon the approval of the REDA Board of Directors and the City Council, whichever occurs last, and shall continue for a period of one year thereafter (i.e. January 1, 2017 through December 31, 2017). III. Fee. The REDA shall pay the City a fee of $ 9,150 ("Contract Fee") for the services set forth in Provision I above. The Contract Fee shall be paid in quarterly equal installments of $2,287.50 payable at the end of quarter of the term of this Agreement. IV. Employment Status and Control of Work. The parties acknowledge that the City is acting as an independent contractor for the REDA under this contract. The City shall supply, at its own expense, all personnel, materials, supplies and equipment required to provide the services contemplated by this Agreement. Any employee assigned by the City to perform work under this Agreement shall remain the exclusive employee of the City for all purposes, including but not limited to wages, salary, benefits and workers' compensation. Such City personnel shall not be entitled to any compensation, rights or benefits of any kind from the REDA including,