(A) The Fiscal Officer will be responsible for providing regular quarterly reports to the Treasury Investment Board and regular semi-annual reports to the Village Council about the village's investment activities. The report should include at least a summary of the village's portfolio by institution and types of instruments, average maturity and changes in portfolio size by fund.
(B) In order to give the Treasury Investment Board a basis by which to determine whether market yields have been achieved, the quarterly reports shall show the active portfolio's average current yield for the quarter as compared to that quarter's average current yield of U.S. treasury bills or notes of similar average maturity. When this comparison produces a positive or negative variance in excess of 100 basis points such variance shall be explained in writing within the quarterly report.
(Ord. 98-6-7, passed - -98)