St. Francisville |
Code of Ordinances |
Chapter 11.5. MISCELLANEOUS PROVISIONS |
Article III. INVESTMENT POLICY |
§ 11.5-40. Reporting requirements.
(a)
The town clerk is required to provide reports to the town as follows:
(1)
Monthly: Including actual trade market value, investment manager account activity report, and brokerage and third party commissions.
(2)
Quarterly: Including portfolio characteristics and market outlook (narrative).
(b)
The topics to be covered in these reports include:
(1)
Performance for the past period; standard time periods for each report will be last quarter, year to date, latest twelve (12) months, three (3) years and since inception. Returns should be annualized and calculated on a time weighted basis for the total portfolio. All returns should include accrued interest and dividends.
(2)
Rationale for performance results, discussion of specific portfolio strategy for the quarter, portfolio characteristics, and support for market and economic assumptions.
(Ord. No. 1996-4, 6-11-96)