The Secretary of the Board of Trustees shall report annually, at the time of the election of the Board, the condition of the Police Pension and Retirement System and the receipts and disbursements on account of the same, with a full and complete list of the beneficiaries of the Fund in the system, for the amount paid to each beneficiary, and shall report to the Board of Trustees the true condition of the Police Pension and Retirement System at any meeting where requested so to do by the Chairperson thereof, or by a majority of the members of the Board of Trustees, and a copy of each report shall be delivered by the City Manager and City Council.
(`90 Code, § 1-37)