CEMETERY COMMISSION 2010/10/20 MinutesCEMETERY COMMISSION MEETING
LAKE FOREST CEMETERY GATEHOUSE
WEDNESDAY, October 20, 2010, 5:30 P.M.
MINUTES
I. ROLL CALL/ CALL TO ORDER: The meeting of the Cemetery Commission was
convened at 5:30 p.m. at the Lake Forest Cemetery Gatehouse. The following
members were present: Chairman Ronald Sevcik; Commission Members Ginny
Grace, John Greene, Colin Silvester, and Prue Beidler. Staff members Ken Leone,
Superintendent of Public Works and Phil Alderks, Cemetery Sexton were present.
Also attending was Tony Hoban of William Blair and Company.
II. CONSENT AGENDA: Chairman Sevcik presented the following items for approval:
A. Approval of Minutes from the Cemetery Commission Meeting held on July
21, 2010
B. Sales Report – Sexton Phil Alderks handed out an updated Sales Report
(attached) for the Commission’s review.
Member Ginny Grace moved to approve the Consent Agenda as presented.
Member Prue Beidler seconded the motion, which carried unanimously.
III. THIRD QUARTER INVESTMENT REPORT FROM WILLIAM BLAIR AND COMPANY: Tony
Hoban of William Blair and Company reported that fixed income investments
have been reduced to 30% of the portfolio since June 30. In the Commission
account stocks and international investments make up almost 80% of the
portfolio. Small to mid-cap stocks continue to offer opportunities. Overall
performance for the quarter was quite good (+8.6%). Equities were up 10.6%.
However, equities were 2.5% below the Russell 3000 Growth benchmark because
of a difficult August. The big market rally in September was due to anticipation
that the government is again going to intervene in the economy.
The conservative fixed income portfolio continues to do well, but over the next
12-24 months bond returns are likely to decrease. Increasing exposure to equities
makes sense.
International investments did well in the quarter (up 12.1 YTD + up 16.9% for
quarter). Volatile market conditions offer opportunities for buying and selling;
there has been a flow to bonds but we’re not going to follow that trend. With
low returns in cash and bonds, when inflation hits, you get negative returns. Mr.
Hoban believes there is still more upside to the market. Corporations are
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October 20, 2010
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beginning to spend accumulated cash and lending is easing. Credit is easier to
get; hiring should pick up.
The Commission notified Mr. Hoban that at the last meeting, they approved
investing the 11 separate Care Funds (being those funds for the perpetual care
and maintenance of various plots and/or other facilities and the Cemetery)
under the same asset distribution criteria as the principal cemetery investment
accounts as stated in the Lake Forest Cemetery Investment Policy dated,
October 19, 2006.
IV. UPDATE ON RAVINE PLANTING PROJECT: Mr. Alderks reported that Conservation
Land Stewardship completed hydroseeding and planting on the bluff near the
lake on October 13.
V. CONSIDERATION OF FEES AND CHARGES FOR FY2012: Ken Leone, Superintendent
of Public Works, presented staff’s proposed fees for the coming year. Increases
are in line with Consumer Price Index increases over the last year and are
consistent with the increases in expenses the Finance Department anticipates in
The City’s FY2012 Budget. The commission was receptive to the
recommendations.
Member John Greene moved to approve the FY2012 Fees and Charges as
proposed. Member Ginny Grace seconded the motion, which carried
unanimously.
VI. APPROVAL OF TARGET NUMBER FOR FY2012 BUDGET: Mr. Leone presented the
three revenue projections that were prepared by staff. The parameters (rates of
inflation and return) were provided by The City Finance Director; they were
extremely conservative. Each year that the Commission has used this method to
determine a budget target number, the Conservative Base Projection has been
adopted. Mr. Leone again asked the Commission to follow their precedent and
approve the FY2012 Conservative Base revenue projection of $760,269 as the
operating budget target number. The preliminary draft operating budget for
FY2011 totals $639,885. Staff will prepare a final budget for the coming fiscal year
that will not exceed the target amount. The budget will be presented for
Commission approval at the January meeting.
Member Beidler moved to accept $760, 269 as the FY2012 Operating Budget
target number. Member Silvester seconded the motion, which carried
unanimously.
Mr. Alderks pointed out that the annual payments of slightly more than $150,000
to pay off the Memorial Gardens/Gatehouse debt will end in four years, so this
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October 20, 2010
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money will become available for operating expenses, projects, or investments.
The Commission asked if the bond can be refinanced to obtain a lower rate. Mr.
Leone responded that the last time the Finance Department checked this, there
was no benefit to refinancing, but he will ask the Finance Director to look into it
again.
VII. FY2012 CAPITAL IMPROVEMENT BUDGET: Mr. Leone presented the FY2012 Capital
Improvement Program. It includes three projects:
Additional ravine restoration will be contingent upon receiving grant
money of $1,060,000 from the Illinois Environmental Protection Agency’s
(IEPA) Illinois Green Infrastructure Grant Program. The Cemetery’s match
would be $200,000.
Entry arch repairs and tuckpointing, estimated to cost $100,000.
Landscape improvements consisting of designs and plantings in the O.C.
Simmonds style, consistent with the landscape master plan approved by
the Cemetery Commission several years ago. The estimated cost of this
initial phase of the project is $50,000.
Since some commission members had not been involved in adoption of
the master plan, the group discussed whether or not they should precede
with this landscape project. Member Grace encouraged the Commission
to move forward with the decision made by the previous board. The
subject had been thoroughly researched and vetted by the Commission.
Staff volunteered to invite O.C. Simonds scholar Barbara Geiger to repeat
her presentation on Simonds’ designs and his importance to Lake Forest
Cemetery. She made presentations to the Commission and to the Lake
Forest Garden Club in the past. She will be asked to attend the January
Cemetery Commission meeting.
Member Grace moved to approve the proposed FY2012 Capital Improvement
Budget of $350,000. Member Beidler seconded the motion, which carried
unanimously.
VIII. CONSIDERATION OF TUOHY FAMILY MONUMENT: Mr. Alderks explained that the
proposed Tuohy family monument does not pose a design issue; the question is
the height of 5’8”. Monument heights are generally in the 42” to 48” range. This
one is in Elder Path, near the back of the section. A similar cross in section C is
5’2” tall. Mr. Alderks thinks the proposed 5’8” height is appropriate for the
location.
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October 20, 2010
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Member Grace moved to approve the proposed monument. Member Silvester
seconded the motion, which carried unanimously.
IX. OTHER MATTERS: Mr. Alderks reported that Mr. Guth has declined to proceed with
his request to trade graves.
X. NEXT MEETING: OCTOBER 20, 2010, 5:30 P.M.: The next regularly scheduled
meeting of the Cemetery Commission will occur on Wednesday, January 19,
2011 at 5:30 p.m. at the Cemetery Gatehouse.
XI. ADJOURNMENT: The meeting was adjourned at 7:00 p.m.
Ken Leone
Superintendent of Public Works