CEMETERY COMMISSION 2016/04/20 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 me eting, or who have questions regarding the accessibility of the
meeting or the facilities, are required to contact City Manager Robert R. Kiely, Jr., at (847) 234-2600 promptly to allow the City to make reasonable accommodations
for those persons.
CEMETERY COMMISSION MEETING
LAKE FOREST CEMETERY GATEHOUSE
WEDNESDAY, APRIL 20, 2016, 5:00 P.M.
MEETING MINUTES
I. ROLL CALL, CALL TO ORDER: Chairman Dennis O’Brien called the meeting of the Lake Forest
Cemetery Commission to order at 5:01 p.m. at the Lake Forest Cemetery Gatehouse. The
following members were present: Chairman Dennis O’Brien; Commissioners Patrick Looby,
John Dick, and David Hooke. Absent: Amy Schuetz. Staff present: Robert R. Kiely, Jr,
Secretary-Treasurer; Chuck Myers, Superintendent of Parks and Forestry; Phil Alderks, Cemetery
Sexton; no Lake Forest residents in attendance.
II. APPROVAL OF JANUARY 20, 2016 MINUTES: Motion by Commissioner Hooke, seconded by
Commissioner Looby, to approve the Minutes of January 20, 2016 as amended. Motion
carried unanimously.
III. REVENUE/EXPENSE REPORT: Phil Alderks presented to the Commission a new format for Y-T-D
Revenue/Expense Report, based on quarterly analysis. Chair O’Brien stated “sales are
cyclical…be able to keep better track of investment.” In addition he will coordinate with Phil
Alderks to fine tune report, otherwise kudos from all.
IV. FIRST QUARTER INVESTMENT REPORT FROM WILLIAM BLAIR AND COMPANY:
A. Transfer Approval – Regarding investment policy to draw interest down, Phil Alderks stated
“need motion authorizing paper transfer of Commission Care Fund Account to Commission
Account and to relay that information to Tony Hoban, at William Blair & Co for execution.
Commissioner Looby motioned to direct Tony Hoban, at William Blair & Co to transfer $156,264.32 in
securities and cash from the City of Lake Forest Commission Care Fund Account (145 -02604, 205-
90138) to the City of Lake Forest Commission Account (145-02603), seconded by Commissioner
Hooke and passed unanimously.
At this time, Chair O’Brien asked that the Commission amend the agenda to move up V. to await the arrival of
Tony Hoban, from Wm Blair & Co who is coming from Chicago and was delayed in traffic.
V. CEMETERY UPDATES:
A. Ravine Restoration: Superintendent Myers stated that the Lake Forest City Council at the April 4,
2016 City Council meeting approved the motion “Approval to Execute Cemetery Ravine
Restoration Grant”. Chair O’Brien inquired if the funds of the grant have been released? Mr. Myers
stated that the reversible grant will be filed once project started and cost incurred and that the
IDNR is very responsive. At this time permit not expected soon, IEPA has confirmed information
received and is also confident that after public comment eta 1 month to start. Myers also stated
that follow-up on cutting and herbicide application for this side of ravine has not been schedule to
date, once closer will process/execute bid process. Commissioner Dick inquired if there is or has
been documentation on the restoration with photos. Whereas Secretary-Treasurer Kiley asked if we
should be documenting with photos. Myers responded that there have been no pictures of tree
removal but once process started there should be documentation and possibly by staff with in –
house photos. Commissioner Hooke offered photo services to showcase project with before/after
pictures.
At this time, Chair O’Brien asked to amend the agenda to move back to IV. so as to accommodate the
delayed arrival of Tony Hoban, from Wm Blair & Co.
IV cont’d FIRST QUARTER INVESTMENT REPORT FROM WILLIAM BLAIR AND COMPANY:
Tony Hoban from William Blair and Co reviewed the current state of the financial market and walked
through his financial report with the commissioners that accompanied the packet given to the
Commissioners for review plus, he distributed an additional “Quarterly Investment Overview” packet
to accompany his 1st quarter 2016 investment report. Mr. Hoban’s highlights are:
US economy reasonably good, decent GPA growth (2-3%)
commodities did drop (see page 3) Agriculture ok others not
consumer confidence healthy 70% consumer driven economy
housing trends look good – sales recovered or close to 2007 values
State finances & municipality bond market have become strong(not IL)
investment returns=market volatile e.g. 2015/16 recovery w/defensive markets
US equity vs Int’l continue to struggle, emerging markets weak
US economy stocks the “place to be,” future looks brighter in US
earnings ratio info slightly higher evaluation
fixed income markets not much happening, longer maturity
income/wealth gap in US big issue not being dealt with
concerns with possible exit of England from EU & terrorism in Europe
Motion by Commissioner Dick to direct Tony Hoban to continue with current investment
strategy regarding Lake Forest Cemetery investment with William Blair & Co, second by
Commissioner Looby, motion carried unanimously.
B. Changes at Wm Blair
FYI to board about recent change in Wm Blair & Co.’s custodial role in the record keeping
technology which will now be handled by the outside company, National Financial
Services owned by Fidelity Investments. An exceptional company whose core business is
record keeping
VI. DISCUSSION OF PLANTING CHANGES TO RULES AND REGULATIONS – DENNIS O’BRIEN
VII. CEMETERY HOURS DISCUSSION – JOHN DICK
VIII. CIMS DEMONSTRATION – PHIL ALDERKS
IX. MIKRUT FAMILY MONUMENT REQUEST FOR APPROVAL – PHIL ALDERKS
X. RESOLUTION OF APPRECIATION FOR COMMISSIONER AMY SCHUETZ
XI. CIMS DEMO – PHIL ALDERKS
XII. OTHER MATTERS
XIII. CITIZENS’ OPPORTUNITY TO ADDRESS CEMETERY COMMISSION
XIV. NEXT MEETING: WEDNESDAY, JULY 20, 2016, 5:00 PM.
XV. ADJOURNMENT