Page 449 - FortWorthFY22AdoptedBudget

XII. SAFEKEEPING

All security transactions will be settled on a delivery versus payment basis and held in
the Permanent Fund by the Trustee, the City’s depository or other Trustee-contracted
safekeeping institution independent from any security transactions or trade counter-
parties. All safekeeping functions will be performed by the Trustee. The Trustee as
safekeeping agent shall provide monthly statements on all security positions held by
the Permanent Fund.
XIII. REPORTING

Monthly Reporting
No less than monthly, the Trustee will submit a report to the CFO and Investment
Committee. The report will, at a minimum, comply with the statutory requirements for
quarterly reporting below.

Quarterly Reporting
No less than quarterly, the Trustee will prepare and submit a report to the Investment
Committee. The report will comply with provisions of the Act governing Internal
Management Reports and will contain, at a minimum, the following:

a. detailed description of each investment position as of the date of the
report including market values, market yield and earnings;
b. summary statements for the Permanent Fund including:
(1) amortized book value for individual fixed income securities, market
values, market yield, and earned income,
2) beginning and ending market value for the reporting period,
(3) change in market value (volatility measure) for the reporting period,
(4) yield for the fixed income portion of the portfolio for the reporting
period,
(5) total return for the entire portfolio for the reporting period,
(6) weighted average maturity, as applicable, and
(7) asset class returns and benchmark returns for the reporting period.

The quarterly report shall include a statement of compliance for the portfolio as it
relates to the Fort Worth Permanent Fund Investment Policy and Strategy and be signed
by the CFO and Trustee.

Prices used for calculation of market values will be obtained from an independent
source.

Benchmark: Risk Measurement
11 | Pa ge

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