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CEMETERY COMMISSION 2019/07/24 MinutesThe City of Lake Forest is subject to the requirements of the Americans with Disabilities Act of 1990. Individuals with disabilities who plan to attend this meeting and who require certain accommodations in order to allow them to observe and/or participate in this meeti ng, or who have questions regarding the accessibility of the meeting or the facilities, are required to contact City Manager Jason Wicha at (847) 234-2600 promptly to allow the City to make reasonable accommodations for those persons. CEMETERY COMMISSION MEETING MINUTES LAKE FOREST CEMETERY GATEHOUSE WEDNESDAY, July 24, 2019, 5:00 P.M. I. CALL TO ORDER, ROLL CALL: Chairman O’Brien called the meeting to order at 5:01 pm COMMISSIONERS PRESENT Dennis O’Brien, Chairman John L. Anderson John Dick David Hooke Eileen Looby Weber COMMISSIONERS ABSENT None STAFF PRESENT Jason Wicha, Secretary Treasurer, City Manager Chuck Myers, Superintendent of Parks, Forestry & Cemetery Phil Alderks, Cemetery Sexton Debra Warren, Administrative Assistant OTHERS Tony Hoban, William Blair II. WELCOME TO NEW CEMETERY COMMISSION MEMBERS EILEEN LOOBY WEBER AND JOHN ANDERSON: Chairman O’Brien noted a quorum of the Cemetery Commission was in attendance at this meeting and welcomed Eileen Looby Weber and John Anderson to the Cemetery Commission. Commissioner Looby Weber noted she is a lifelong resident of Lake Forest and proprietor of Lake Forest Flowers. Commissioner Anderson shared that he is a 36 year resident of Lake Forest with a background in financial planning and accounting; he recently retired this spring. III. APPROVAL OF APRIL 24, 2019 MINUTES: Chairman O’Brien presented the minutes to the Commissioners for approval. Motion by Commissioner Looby Weber, seconded by Commissioner Dick to approve the meeting minutes from April 24, 2019. Motion passed by unanimous voice vote. IV. SECOND QUARTER INVESTMENT REPORT FROM WM BLAIR AND CO.: Chairman O’Brien reported he recently presented a report on the Cemetery’s finances to the City Finance Commission. In recognition of the fact that all projects undertaken by the Cemetery were accomplished without the use of tax dollars, the Finance Committee complemented the Cemetery Commission on their exemplary fiduciary duty. Tony Hoban from William Blair and Company distributed a Quarterly Market Review for the second quarter of 2019 and reported on the Cemetery investment accounts. Hoban noted that William Blair has been managing the Cemetery’s assets for approximately 10 years. Hoban stated that in the 2nd quarter of 2019 global stock markets saw significant equity gains, after an exceptionally strong 1st quarter. He said that in the U.S., the S&P 500 gained 4.3% which should be evaluated in the context of a sharp sell-off in December of 2018 which dropped equities into negative territory for the year. He further reported that the Cemetery’s equity returns have been strong of late, benefitting from an overweight in U.S. growth equities, particularly in actively managed small-mid cap growth stocks which have substantially July 24, 2019 Page 2 outperformed their benchmark. Hoban said that for the 2nd quarter the cemetery’s U.S. stocks were up 6.4% versus the benchmark at 4.5% and for 2019 YTD equities are up 24.8% vs. the benchmark at 21.4%. International stocks (cemetery held) returned 3.4% for the period, slightly beating the benchmark and fixed income investments were slightly ahead of the benchmark at 3.3%. Hoban closed by stating that for the calendar year, the combined Cemetery accounts have risen 20.7% which is 5.6% greater than the benchmark. Following the overview of performance and asset allocation, Chairman O’Brien made the following motion: Motion by Chairman O’Brien directing Tony Hoban to continue with current investment strategy regarding Lake Forest Cemetery investment with William Blair & Company. Second by Commissioner Dick. Motion carried unanimously. V. REVENUE / EXPENSE REPORT Sexton Alderks reported the Cemetery’s fiscal year ended April 30, 2019. Chairman O’Brien noted the Cemetery’s revenue for the past fiscal year was 54% over budget. The Cemetery saw a 50% increase in sales and service while operating expenses were down 4%. VI. CEMETERY UPDATES A. Barrell Entrance Restoration Update Superintendent Myers reported the Barrell Gate Restoration Project has been completed with the exception of the street and curb repair. The gates were hung on June 10. The restoration project consultant, Mary Brush, of Brush Architects will prepare a final report on the project for the Cemetery Commission. Superintendent Myers noted that the total project funds (contract with Berglund and the contingency fund) total $232,000.00. A final invoice has not yet been received from Brush Architects, but the cost is estimated in the area of $18,000.00. Commissioner Hooke prepared a condensed (1 minute) version of a video documenting the Barrell Gate Restoration Project. The video was viewed by the Cemetery Commission during the meeting. The plan is for the video to eventually be featured on the City’s webpage. Superintendent Myers reminded the Commissioners that 2019 is the 100th year anniversary of the Cemetery’s Barrell Memorial Gateway. A simple ceremony to commemorate this anniversary is slated for the fall. The executive director of the Lake Forest Preservation Foundation (Marcy Kerr) is interested in planning the commemoration event with the City/Cemetery Commission. July 24, 2019 Page 3 B. Memorial Garden Phase II Superintendent Myers reported Phase II of the Memorial Garden is in the planning stage and requires design work. The final plan documents from Bergman are expected to be completed soon to allow the project to be put up for bid. It is anticipated that the bid process will be completed by late September 2019. Chairman O’Brien indicated the Cemetery Commission will need to determine how to pay for the Phase II project. There are three funding possibilities: use the Cemetery’s current investment funds, piggy-back on any bonds issued by the City of Lake Forest, or borrow the funds from the bank. C. Ravine Update Sexton Alderks reported the ravine project on the east end has been completed. The work to repair of the blowout in this area was contracted out. Superintendent Myers has been talking to Ted Gray to devise a strategy to phase the ravine work that needs to be completed. He indicated state and federal grant applications have been submitted over the past few years but were not accepted for funding. Superintendent Myers will continue to pursue this type of grant funding in the future. Superintendent Myers reported the Cemetery will need to continue to keep up with smaller storm management projects. He noted a contract landscape firm will complete some grading on the east end of the pipe later this summer. The Cemetery is already in possession of the Army Corps permit that took 18 months to acquire; the permit will continue to be valid for the next 2 ½ years. D. Rules and Regulations Update Sexton Alderks had nothing to report as he only recently received the formal rules and regulations from the City Attorney. He will present the information at the October meeting to allow the Cemetery Commission to vote on the proposed rules and regulations. VII. REPORT ON EDWARD RYERSON FAMILY LOT Sexton Alderks reported that the wall on the Edward Ryerson lot has substantially deteriorated. The wall’s capstones, engraved with the names and information of the deceased, are loose and the entire structure is becoming dangerous. At this juncture, the family should be contacted about the needed repairs to the wall, since it is the family’s responsibility to maintain the structure. If the Ryerson family is not amenable to undertaking the repair, the cemetery can dismantle the wall and set the engraved capstones in the ground to serve as markers. Commissioner Looby Weber suggested that the Ryerson family be provided with a specified timeline for repair of the July 24, 2019 Page 4 wall. Chairman O’Brien directed Sexton Alderks to contact the Ryerson family to request that they provide an answer to the Cemetery by October 15, 2019 as to their willingness to repair the wall. VIII. OTHER MATTERS Sexton Alderks noted that the limestone marker previously approved for Barry Carroll during the April 24, 2019 Cemetery Commission meeting is already displaying cracks. Chairman O’Brien reported he received a letter from the Darling/Schuster Trust notifying the Cemetery Commission that the Cemetery was named as a beneficiary of a $20,000 gift. IX. CITIZENS’ OPPORTUNITY TO ADDRESS CEMETERY COMMISSION No public in attendance at this meeting. X. NEXT MEETING The next meeting of the Cemetery Commission is scheduled for 5:00PM on Wednesday, October 23, 2019. XI. ADJOURNMENT The meeting was adjourned by Chairman O’Brien at 6:24PM