Part 5 — RECORDS AND REPORTS

In addition to other records and accounts, the board shall keep such records and accounts as may be necessary to show at any time:

A.

The total accumulated contributions of members;

B.

The total accumulated contributions of retired members less the annuity payments made to such members;

C.

The accumulated contributions of the city held for the benefit of members on account of current service;

D.

All other accumulated contributions of the city, which shall include the amounts available to meet the obligation of the city on account of benefits that have been granted to retired employees and on account of prior service of members.

(Prior code § 2904.61.)

The board shall cause to be issued, as of the date of the investigation and valuation made pursuant to Section 3.24.160, a financial statement showing an actuarial valuation of the assets and liabilities of this system and a statement as to the accumulated cash and securities in the retirement fund as certified by the auditor. The board shall include in the statement, which shall be issued as of the end of each fiscal year, other than the year of the investigation, assets and liabilities resulting from current and prior service, in amounts equal only to accumulated contributions held on account of such service.

(Prior code § 2904.62.)

As soon as practicable after the close of each fiscal year, the board shall file with the city council a report of its work for such fiscal year, and the board shall make the report available to any member who requests it. Among other things, the report shall contain recommendations for or against changes in the retirement system.

(Prior code § 2904.63.)