City of Jacksonville Cemetery Board met Jan. 18.
Here is the minutes provided by the board:
The regular monthly meeting of the Jacksonville City Cemeteries Board was called to order at 8:32 a.m. in the Commission Room of the Jacksonville Municipal Building. The meeting was publicly announced by posting and by written notice to the local newspaper and radio stations.
ROLL CALL: Members present were: Chairman Doug Moore, Tom Newby, Carolyn Bonjean, Treasurer Mary Fergurson; Superintendent Jim Pierson; Deputy City Clerk Angela Salyer. Absent from the meeting were Members Linda Brown and Gerald Scott. A quorum was declared.
AGENDA: Motion was made by Newby, seconded by Bonjean, to approve the January 18, 2019 Agenda as presented in advance. By voice vote, motion carried.
MINUTES: Chair Moore advised that the minutes need to be amended by changing “Gary Scott to Jere Scott”. Motion was made by Bonjean, seconded by Newby, to approve the December 21, 2018 Minutes as amended. By voice vote, motion carried.
FINANCE:
a.) Treasurer’s Investment Report – December 2018:
Ms. Fergurson advised that the next maturity set for March, 2019 will be discussed at the February 15th meeting. As indicated at the previous meeting, the Gabelli Small Cap Growth Fund being held in the mutual fund holdings in the City Cemeteries Account is underperforming and has a relatively high expense ratio. She is recommending the Board sell 100% of that position to purchase the Vanguard Small Cap Index Fund (NAESX) that has the advantage of being a no-load fund and the annual expense ratio is quite low at.17%. The NAESX fund carries a 5-star rating from the Morning Star Group and has been designated a Gold fund. Motion was made by Newby, seconded by Bonjean, to accept Ms. Fergurson’s recommendation to sell the Gabelli Small Cap Growth Fund, using those funds to invest in the Vanguard Small Cap Index Fund. By voice vote, motion carried.
Supt. Pierson inquired as to whether or not unused funds in the Capital Improvement Fund for Masseyview roadwork could be invested in the Land & Building Fund, and if so, would he have access to those funds when he needed it. Ms. Fergurson advised that if those funds are put into the money market account, he should be able to withdraw as needed. The money market account is currently yielding almost 2%. Short-term Certificate of Deposits may be an option as well. Supt. Pierson is still waiting on roadwork estimates so he may wish to invest during the interim.
b.) Cash Receipts Report – December 2018:
Chair Moore gave a brief overview of the Cash Receipts Report, noting that there is a current revenue balance of 8.36%, and a current expenditure balance of 13.53% remaining at the end of December. He commended Supt. Pierson on a job well done in staying within budget.
c.) Cash Receipts Report and Claims Approval – December 2018:
Motion was made by Newby, seconded by Bonjean, to approve the Cash Receipts Report and to pay claims when funds are available. By voice vote, motion carried.
SUPERINTENDENT’S REPORT: Supt. Pierson reported on the following:
The department is having to spend more time on grave opening preparations because of the snow. Approximately 600 seedlings have been planted in the greenhouse.
The Cemetery Department has been shorthanded the past few weeks due to medical issues with several employees.
PUBLIC COMMENT: No discussion.
OLD BUSINESS: Chair Moore continues to work on the Rule Book and to address fetal burials. He has been in discussion with City Attorney Dan Beard with regard to ensuring that everything that needs to be addressed in the Rule Book is actually included in the new Rule Book.
Chair Moore advised that Gerald Scott was appointed by Mayor Ezard, and confirmed by Council on January 14, 2019, to fill the vacancy left when Kim Pohlman resigned from the Board. Mr. Scott will be at the February meeting.
NEW BUSINESS: Motion was made by Newby, seconded by Bonjean, to elect Doug Moore as Chairman of the Board for 2019.
ADJOURNMENT: Hearing no further business, a motion was made by Newby, seconded by Bonjean, to adjourn the meeting at 8:42 a.m. By voice vote, motion carried. The next regularly scheduled meeting of the Jacksonville City Cemeteries Board will be held on Friday, February 15, 2019, 8:30 a.m. in the Commission Room at the City of Jacksonville Municipal Building.
https://www.jacksonvilleil.gov/city_government/boards_commissions_and_committees/docs/Boards%20Commissions%20Committees/Cemetery_Board_Minutes/2019/01.18.19.pdf
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