City of Jacksonville Cemetery Board met Feb. 19.
Here is the minutes provided by the board:
The regular monthly meeting of the Jacksonville City Cemeteries Board was called to order at 8:35 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 Linda Brown, Tom Newby, Carolyn Bonjean, Gerald Scott; Treasurer Mary Fergurson; City Clerk Skip Bradshaw; Superintendent Doug Moore. A quorum was declared.
AGENDA: Motion was made by Bonjean, seconded by Scott, to approve the February 19, 2021 Agenda as presented in advance. By voice vote, motion carried.
MINUTES: Motion was made by Bonjean, seconded by Scott, to approve the October 16, 2020 Minutes as presented in advance. By voice vote, motion carried.
FINANCE:
a.) Treasurer’s Investment Report – October/November/December 2020; January 2021: Treas. Fergurson advised that an Ally Bank Certificate of Deposit (CD) matured January 25, 2021 and in keeping with recent past practice the money was put into the money market account and remains un invested at this point. The aggregate portfolio value increased from $1,148,573.33 in October 2020 to $1,203,535.61 by the end of January 2021. Ms. Fergurson talked about her review of the Investment Policy Statement, making sure it was in keeping with the State of Illinois cemetery statutes. According to the State of Illinois cemetery statutes, the Board of Directors can direct whatever it feels is prudent for investments at the time. The current Investment Policy Statement limits the equities position to a maximum of 35% of the portfolio. As of the end of January, investments were at 34.06%. However, the target point for equities was 25%, so the investment portfolio has achieved a great deal of growth. Looking at the current interest rate environment, the value of diversification, the fact that some of the cemeteries equity mutual funds are paying far more in current dividend than what they are achieving in this zero interest rate environment, Ms. Fergurson is proposing that the Board consider raising the equities allocation to a target of 50% of the aggregate portfolio value, with a minimum of 35%, which is still considered a conservative and balanced position. What this would do is expose the portfolio to slightly more risk of volatility, but it would allow the fund to capture more current dividend income, as well as the potential for growth in those securities. Ms. Fergurson feels that raising the limit to 50% is a prudent thing to do simply because the returns on interest have been cut almost to nothing. One other slight adjustment to the Investment Policy Statement was the addition of the date of acceptance and Chairman signature to the end of the document.
Ms. Fergurson noted that the domestic large cap funds have performed very well the last few years, and this portfolio has exposure through the large cap securities of the AMCAP Fund, the Vanguard Equity Income Fund and the Income Fund of America. General discussion ensued regarding the different types of investment funds available. The reason for having domestic versus international classifications is to try to diversify away as much risk to one segment of the market as possible, as they offset one another in terms of return providing a greater level of stability to your equities position. As such, part of the reason Ms. Fergurson is recommending the raising investment limit to 50% is to slightly increase the allocation to international stocks. The allocation under this proposed policy would then shift from large cap at a maximum of 21% up to a maximum of 30%, lift mid-cap and small-cap to 6%, and increase the international component from a maximum of 6% to 8%. Ms. Fergurson noted that according to the Investment Policy, the Treasurer has a lot of latitude in investments, so with the limit increased to 50%, there will most likely be some movement within the various funds in order to gain a better return. At the end of discussion it was determined that the amended Investment Policy Statement will be addressed at the March 19th Board Meeting. Motion was made by Scott, seconded by Newby, to accept the Treasurer’s Report. By voice vote, motion carried.
b.) Cash Receipts Report – October/November/December 2020; January 2021: Chair Brown gave a brief overview of the Cash Receipts Report. Ms. Fergurson noted that the $25,000 balance from the CD that matured in January was incorporated into the money market account balance as indicated on the February Cash Receipts Report. Ms. Fergurson continues to look for the best investment options available to reduce the cash on hand. Chair Brown noted that the revenue balance is nearly the same as last year at $39,689.68, and the fund had an expenditure balance of $22,456.72 at the end of January. A cash balance of $98,594.81 remains in the checking account at the end of January.
c.) Cash Receipts Report and Claims Approval – October/November/December 2020; January 2021: Motion was made by Newby, seconded by Scott, to approve the Cash Receipts Reports and to pay claims when funds are available. By voice vote, motion carried.
SUPERINTENDENT’S REPORT: Supt. Moore reported on the following:
✠ Supt. Moore provided a brief year-end analysis of Cemetery finances for 2016-2020. Burials were average, with many families postponing interment due to the current pandemic. Despite what is happening though, Cemetery finances remain in good shape.
✠ The Department purchased a new trailer at the end of 2020.
✠ David Carl has been working on a project for a machine that will have a greater dirt load capacity than what can be done with the Gator or the loader. This will work well for full-size burials. ✠ The greenhouse is full of root cuttings and additional spring plants have been ordered, which should arrive in late March or April. Supt. Moore will ensure that East Cemetery will get the same treatment as Diamond Grove.
✠ The Department has received a lot of genealogy requests and through that process has been able to update some of our local records.
✠ Supt. Moore has been reviewing the previous five-year plan, noting that the majority of the projects have been accomplished with the exception of the development of the west property. More work needs to be done in that area before it can be marketed.
✠ The cemetery averages about 32% on ash burials, columbarium and in-ground. Only 34 of the 96 spaces in the columbarium are still available. For future consideration, it appears that the majority of those spaces that are available are located on the bottom two rows. In speaking with Mr. Bruington from Jacksonville Monument Co., there are columbarium available where the spaces are well above ground. He would also like the Board to consider placing a columbarium at East Cemetery. He has included a columbarium for both cemeteries in his Capital Improvement requests.
✠ The Cemetery Department received a donation of $2,000 from Mary Frances Alkire. Her name will be added to the monument once the weather permits.
✠ The State of Illinois is currently two years behind on their payments for mowing of the state cemetery grounds, they owe for 2019 and 2020, totaling $23,000. Supt. Moore has been in contact with the State about payment for both years. However, 2019 will have to go to court of claims because it can no longer be acquired through traditional appropriations. All communication regarding the 2019 invoices have been forwarded to City Attorney Dan Beard.
✠ A request has been received from Pathway Services to place markers in Emmanuel East that have been in their possession that were either purchased by family members or donated but have not been placed at the gravesites. Because that property is technically state property, Supt. Moore has been in contact with the State to get permission to be on the property to place these markers at the gravesites. The State has requested the City sign an access agreement which has been forwarded to CA Beard for review. Pathway Services has offered to provide the labor and materials for this project.
RE-ELECTION OF OFFICERS TO THE CEMETERIES BOARD OF MANAGERS: Chair Brown will address this matter with Mayor Ezard to fill the vacancy on the Board. It was also noted that Mayor Ezard will need to appoint Ms. Brown as Chairman of the Cemeteries Board at the next Council meeting. The re-election of officers will be moved to the next Board meeting to allow time for the appointment of Ms. Brown as Chairman of the Board to take place.
PUBLIC COMMENT: No discussion.
OLD BUSINESS: Supt. Moore explained that work continues on an agreement between the City, the Jacksonville Chaplaincy Group, and the National Benevolent Association (NBA) regarding the transfer of deeds, first to the Chaplaincy Group and then on to the City. The agreement is currently being reviewed by CA Beard. With regard to the short spaces in row 7, those plots cannot be sold so they will be considered for the share burial agreement. Flowers and plantings will be selected for those spaces to beautify the area, keeping in mind access to the various plots.
The Memorandum of Understanding for the share burials between Passavant Area Hospital, the City and the funeral homes remains under review by CA Beard.
Chair Brown talked about the amendments to the Rule Book. She feels that the current revisions may be too in depth when buying at a time of loss. She feels the book should be short and simple for those who have recently lost a loved one. She asked the Board to review the book for discussion and approval at the April meeting.
Chair Brown would like the Board to consider purchasing a columbarium for both East and Diamond Grove Cemeteries. Supt. Moore has received quotes from the monument company and are as follows:
✠ EAST CEMETERY: 24-niche selection - $12,000
32-niche selection (one-side) - $16,300
✠ DIAMOND GROVE: 72-niche selection (hexagon) - $44,800
96-niche selection (double-sided) - $48,900
112-niche selection (octagon) - $64,200
Supt. Moore has requested the purchase of the 32-niche columbarium for East Cemetery, and the 112- niche columbarium for Diamond Grove Cemetery under his Capital Improvement requests. However, Chair Brown suggested looking elsewhere for the funds as money is tight right now on Capital Improvement expenditures. She suggested using funds from the Land & Buildings Fund, or from a $60,000Certificate of Deposit that is set to mature March 4, 2021. She also would prefer to purchase at least a 96-niche columbarium for East Cemetery. Mr. Scott asked whether or not the Department should seek bids from other sources for the columbariums. Chair Brown feels that the Department should support local businesses and Supt. Moore stated that quality can come into question when buying from other sources. It also appears that the Department is under no obligation to seek out bids.
NEW BUSINESS: Supt. Moore was contacted by a company out of Brooklyn, NY who is providing digital services to families through a membership process that will allow you to have a camera at your marker so you can visit a grave. Additionally, they offer a series of concierge services wherein the family can ask our Department to place items at the gravesite and all proceeds go directly to the Cemetery Department. The Cemetery Department also gets 20% of the membership fees associated with the service, and 30% of the camera value placed at each stone. General discussion ensued and many gave reasons why they are against the service. At the end of discussion it was decided not to pursue this endeavor.
ADJOURNMENT: Hearing no further business, a motion was made by Newby, seconded by Bonjean, to adjourn the meeting at 10:04 a.m. By voice vote, motion carried. The next regularly scheduled meeting of the Jacksonville City Cemeteries Board will be held Friday, March 19, 2021, 8:30 a.m. in the Commission Room at the City of Jacksonville Municipal Building.
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