CEMETERY COMMISSION 2014/07/16 MinutesLAKE FOREST CEMETERY COMMISSION MEETING
LAKE FOREST CEMETERY GATEHOUSE
WEDNESDAY, JULY 16, 20145:00 P.M.
MEETING MINUTES
ROLL CALL, CALL TO ORDER:The Lake Forest Cemetery Commission convened at 5:00 p.m. at the Lake Forest Cemetery Gatehouse. The following members were present: Chairman Colin Silvester;
CommissionersDennis O’Brien, Patrick Looby and John Dick; Staff Bob Kiely, Secretary-Treasurer;Chuck Myers, Superintendent of Parks and Forestry;and Phil Alderks, Cemetery Sexton. Also
in attendancewas Tony Hoban from William Blair and Company.
CONSENT AGENDA: Commissioner Looby motioned to approve the April 16, 2014 minutes.CommissionerO’Brienseconded the motion.Phil Alderks presented a new format for reporting ‘sales’ which
he explained gives a more complete picture of revenues for the quarter. Alderks explained the new format and asked for responses to the changes. The Commissioners requested sub-totals
be added to the report and Commissioner O’Brien asked what the difference is between the Interest line item and the Net Gain/Loss Investment line. Alderks said he did not know, but will
speak with Finance and report back at the next meeting. The Consent Agenda passed unanimously.
SECONDQuarter Investment Report from William Blair and Company: Tony Hoban from William Blair stated that the equitymarkets were up 5% in the quarter. He further explained that the utilities
sector has led the market returning 19% and the US bond market is up 4%. Hoban said that many of the lower quality companies have outperformed the more quality investments that the cemetery
holds, but those companies are dependent on low interest rates and heavy government intervention. Asian markets continue to be a concern with the Chinese credit problem and the lack
of visibility of those involved in its resolution are probably the single biggest risk to the financial markets today.
Hoban informed the Commission that currently the Cemetery investment account is back where we need to be in terms of asset allocation with equities at the high range 61% with international
equities and cash/fixed income within range. Hoban stated that we may see some volatility around mid-term elections that would cause us to add aggressively to equities if and when that
happens.
Commissioner Dick asked what the purpose of the cash in the Wm. Blair account is for to which Mr. Hoban replied that the cash was there for day-to-day transactions. Sexton Alderks explained
the City ‘cash account’ which is separate from the Wm. Blair cash account, is for day-to-day Cemetery operating expenses according to the investment policy.
CEMETERY UPDATES – RAVINE DESIGN: Superintendent Myers reported to the Commission that we are currently in the survey stage of the ravine design process. Once the survey is completed
Conservation Design Forum will be able to move forward with the details of the design work. Meyers’ also stated that we are looking at other grant opportunities (Great Lakes Restoration
Initiative grant).
Chairman Silvester asked if the solicitation of grant money is going to impact what we are currently doing with the CDF. Myers stated that we are continuing to move ahead with the Phase
II design, but will also continue to seek grant funding to help offset expenses.
Myers also reported that the RavineDesign sub-committee has metto review the Ravine Management Plan for aesthetics of the design. Myers said that progress is being made and that there
will be one more meeting with the sub-committee and Conservation Design Forum to review the plan.
Commissioner Dick asked what is our exposure/coverage if should something catastrophic occur with the ravines regarding the loss of burials and/or memorials. Bob Kiely stated that is
a good question and we’ll need to ask the City attorney and our insurance carrier and report to the Commission at the October meeting.
CEMETERY COMMISSION FINANCE SUBCOMMITTEE REPORT: Chairman Silvester reviewed with the Commissioners the RFP to manage the Cemetery Endowment Fund. Silvester stated that he contacted
Tony Hoban from William Blair to inform him that the RFP would be going out as a due diligence on the part of the Commission to review financial performance of the fund manager. Silvester
stated that the issue before the Commission regards any additions or changes to the RFP before it is sent out.
Silvester said that the Commission has a fundamental responsibility to periodically review the fund manager’s performance and he still believes it better served by the whole Commission.
Commissioner O’Brien asked if the timeframes in the RFP were acceptable.Bob Kiely said that from the City’s position the timeframes were acceptable. Tony Hoban said that from a vendor’s
perspective, that the timeframes were doable.
Following discussion Chairman Silvester asked for a motion to appoint a Committee of the Whole to interview potential investment managers according to the RFP to be sent out. Commissioner
O’Brien motioned and Commissioner Looby seconded the motion which passed unanimously. Silvester then asked for a motion to approve the RFP which Commissioner Dick put forth and Commissioner
O’Brien seconded. This too passed unanimously.
Silvester requested that the Commissioners email Chuck Myers the names of any investment firms that they would like the RFP to be sent to.
DOUGLAS FAMILY GARDEN STATUARY REQUEST FOR APPROVAL: Phil Alderks presented the request for garden statuary at the Donald Douglas family lot. Alderks stated that the 2 pieces (photos
in Commission packet) were placed without any previous contact from the family or permission from the Cemetery. Alderks said he was able to speak with a family friend who was dropping
off some paperwork for the family and he said they had dropped off the pieces. Alderks said he explained that all ‘statuary’ had to be approved by the Cemetery Commission and must satisfy
certain requirements. Alderks then asked if they would like to petition the Commission for approval of the 2 pieces. Alderks then told the family friend that staff would remove the pieces
from the lot until the Commission acted on the petition at the next Commission meeting. The family member stated he would like the garden statues request to be presented to the Commission
and agreed to have staff remove the pieces until the Commission ruled.
Alderks referred the Commission to the pictures of the garden statues and their construction and explained that Cemetery Rules and Regulations allow memorials and statuary with Cemetery
Commission approval, but restrict the materials to granite and bronze. Alderks said this is because of the permanent-ness of cemeteries and the memorials erected there. Alderks explained
that the Douglas ‘statues’ are made of concrete for the bases and some kind of a fiberglass or resin that does not meet cemetery regulations. Alderks also said that the request was being
presented by persons who were non-blood heirs of the lot owner’s family (an ex-wife of one of the blood heirs, deceased, who is the executor of her ex-husband’s will).
Following discussion by the Commission a motion was made by Commissioner Dick to deny the request for the ‘statuary’ presented for the Douglas lot based on its construction from non-conforming
materials. Commissioner Dick also suggested that the letter be directed to the heirs of the Douglas lot and copied to the petitioners in order to follow the line of heirship. Commissioner
Looby seconded the motion which passed unanimously.
OTHER MATTERS:None
CITIZENS’ OPPORTUNITY TO ADDRESS CEMETERY COMMISSION: No citizen comments were made during this meeting.
ADJOURNMENT: The meeting adjourned at 6:45 pm.