A. Methods: The Village Clerk shall submit to the Village Board of Trustees, at least quarterly, an investment report which shall describe the portfolio in terms of types, percentages, and amounts of investments by fund. A monthly report shall be produced listing type, institution, fund, and book value. This report should be provided to the Board of Trustees and available on request.
B. Statement Of Portfolio Market Value: A statement of the market value of the portfolio shall be issued to the Village Board of Trustees quarterly.
C. Performance Standards: This investment portfolio will be managed in accordance with the parameters specified within this policy. The portfolio should obtain a market average rate of return during budgetary and economic cycles, taking into account the Village investment risk constraints and cash flow needs. Portfolio performance should be compared to benchmarks with similar maturity, liquidity, and credit quality as the portfolio. The basis to be used by the Village to determine whether market yields are being achieved shall be the six-month U.S. Treasury bill. (Ord. 12-03, 3-5-2012)