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A. The assembly, with the assistance of the manager, the chief fiscal officer, fund managers, or any other advisor the assembly deems appropriate, annually shall review the performance and investment strategy of the fund. The assembly shall:

1. Review the fund’s performance over the past year, with respect to the stated goals and established benchmarks;

2. Review and establish a risk profile by considering investment objectives, risk tolerance, liquidity requirements and the current risk/reward characteristics of the market;

3. Establish, by formal resolution, a plan for the allocation of investment assets, determining a percentage range of the fund to be committed to the various asset classes and establishing performance benchmarks.

B. The assembly, with the assistance and recommendations of the manager and chief fiscal officer, annually shall review the disposition of income from the fund. The assembly shall:

1. Review the inflation-proofing calculation made under HBC 3.24.070 and identify the appropriate amount to be returned to the fund;

2. Establish the appropriate level of spending of income from the fund for the year under HBC 3.24.090, taking into account the goal of protecting the principal of the account and the needs of the borough. (Ord. 07-08-164 § 5)