§ 36-8-8 - Annual report and statement.
SECTION 36-8-8
§ 36-8-8 Annual report and statement.– The retirement board shall submit to the governor, the speaker of the house ofrepresentatives, the president of the senate and the secretary of state, on orbefore the first day of December in each year, an annual report showing thefinancial transactions of the system for the fiscal year of the state nextpreceding said date. The report shall contain, among other things, a financialbalance sheet, a statement of income and expenditures, a valuation balancesheet as prepared by the actuary, a detailed statement of investments acquiredand disposed of during the year, and such other statistical data as are deemednecessary for a proper interpretation of the condition of the system and theresults of its operations. The report shall also provide: an operatingstatement summarizing meetings or hearings held, meeting minutes if requested,subjects addressed, decisions rendered, rules or regulations promulgated,studies conducted, policies and plans developed, approved, or modified, andprograms administered or initiated; a consolidated financial statement of allthe funds received and expended including the source of funds, a listing of anystaff supported by these funds, and a summary of any clerical, administrativeor technical support received; a summary of performance during the previousfiscal year including accomplishments, shortcomings and remedies; a synopsis ofhearings, complaints, suspensions, or other legal matters related to theauthority of the board; a summary of any training courses held pursuant to§ 36-8-4; a briefing on anticipated activities in the upcoming fiscalyear; and findings and recommendations for improvements. The report shall beposted electronically on the general assembly and the secretary of state'swebsite as prescribed in § 42-20-8.2 of the Rhode Island general laws. Thedirector of the department of administration shall be responsible for theenforcement of this provision. The report shall also embody such other data asmay be of use in the advancement of knowledge concerning state employeepensions and any recommendations of the board for changes in the lawspertaining to the system. The retirement board shall cause to be published fordistribution among the members of the system a financial statement summarizingthe results of operations for the fiscal year.