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13.0 Performance Standards <br /> 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 <br /> risk constraints and cash flow needs. <br /> 14.0 Reporting <br /> The Finance Director shall prepare an investment report on a periodic basis and include: <br /> 1. Listing of individual securities held at the end of the reporting period. <br /> 2. Listing of investments by maturity date. <br /> 3. Percentage of the total portfolio which each type of investment represents. <br /> 4. Market to Market analysis. <br /> 5. Rate of return for the quarter. <br /> 15.0 Investment Policy Adoption <br /> The Elk River Municipal Utilities investment policy shall be adopted by motion of Elk River <br /> Municipal Utilities' Commission. The policy shall be reviewed periodically as needed by the <br /> Director of Operations and Finance Director, and any modifications made thereto must be <br /> approved by Elk River Municipal Utilities' Commission. <br /> Adopted September 13, 2005 <br /> Revision May 11, 2010 <br /> 6 <br /> 110 <br />