Your policy and public file should be separate and I would try not to mix them as being one in the same, regardless of what you call it.
Policies are road maps, directions from the board. (FYI this has been discussed may times and you can find several opinions in different threads.) By having them annually reaffirm the policies, they affirm that is still the direction they want to go. What your direction is in your policy, and any discussion on investments, housing needs assessments etc. is not public information. Do you really want to give that to your competition?
If you wanted to pick a time to report the Public File to the board, I would +/- April 1 as that is the required update date in the Reg.
Personally, the board was routinely updated about market areas, loan and deposit numbers, complaints and comments, so they already had everything that was in the Public File, just not tied together with a ribbon.
My opinions are not necessarily my employers.
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell