(A) Annual report. The investment officers shall prepare an investment report at least annually which shall provide a clear picture of the status of the portfolio and transactions made over the preceding year. Such report shall be designed to allow the Council to ascertain whether the investment activities during the reporting period have conformed to this investment policy.
(B) Performance. The portfolio should achieve a market rate of return during a market environment of stable interest rates. Portfolio performance shall be compared at least annually to the yield on three-month, six-month and one-year U.S. Treasury obligations. Such performance comparison may be included in the quarterly report of the city.
(Prior Code, § 2-538) (Ord. 13-33, passed 12-9-2013)