The mayor shall be the chairperson of the board of trustees. The finance director shall be the secretary treasurer of the board of trustees and shall keep a public record of all proceedings, of all receipts and disbursements made by the board, and shall make an annual report of its expenses and disbursements with a full list of the beneficiaries of said fund in the city. The report shall be placed on file in the office of the finance director. (Ord. 87-20 §2, 1987; Ord. 79-6 §2, 1979).