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I13.0 Performance Standards <br /> gill The investment portfolio will be designed to obtain a market average rate of return during <br /> budgetary and economic cycles, taking into account Elk River Municipal Utilities investment risk <br /> I <br /> constraints and cash flow needs. <br /> I 14.0 Investment Policy Adoption <br /> The Elk River Municipal Utilities investment policy shall be adopted by motion of Elk River <br /> I Municipal Utilities' Commission. The policy shall be reviewed periodically as needed by the <br /> General Manager and Finance Director, and any modifications made thereto must be approved by <br /> I <br /> Elk River Municipal Utilities' Commission. <br /> I <br /> I <br /> I <br /> Pi <br /> I <br /> I <br /> I <br /> I <br /> I <br /> IAdopted , 2005 <br /> lid <br /> I <br /> I7 <br />