§ 2-1259. Records and reports of board of trustees.

(a)

Data. The board of trustees shall keep in convenient form such data as shall be necessary for actuarial valuation of the funds and securities of the Pension System and for checking the experience of the system.

(b)

Proceedings; annual report. The board of trustees shall keep a record of all of its proceedings, which shall be open to public inspection. The board shall publish annually in pamphlet form a report prepared by independent certified public accountants showing the fiscal transactions of the pension system for the preceding fiscal year, the status of assets and liabilities and the amount of securities and cash on hand. One copy of such annual report shall be delivered to each member of the board of trustees and to each member and current beneficiary of the Pension System, three copies shall be filed with the director of records, and 25 copies shall be delivered to the city manager for the members of the city council.

(c)

Certification of amount to be paid by city. The board shall, before October 1 of each year, certify to the city manager the amount of the ARC, as defined in section 2-1282, to be paid by the city under the Pension System for the succeeding fiscal year as required by this division.

(Ord. No. 991491, § 1, 11-23-99; Ord. No. 140034, § 1, 2-20-14 )