Board Minutes for May 22, 2012
Dean Otto called the meeting to order at 9:05.
Present were: Dean Otto, Archie Kendall, Ruth Otto, Doug Johnson, Sally Peterson, Dale Van Thuyne, John Peterson, Arlene Neilsen, Barbara Jackowell, and Phyllis Granaas
The Minutes of the last meeting were read and approved with corrections.
Dean Otto gave the Treasurer’s report. The Profit/Loss Statement showed approximately a $5,400.00 loss. He explained this was due to reduced income from interest. A discussion of the current economy and the low interest rates for investments occurred. Net income was $0.00 due to a money transfer to equity accounts. The cemetery must file Federal Taxes. We have a CPA who does this for the cemetery. However, we are already running behind on bills. Dean will have the Line of Credit increased. The treasurer’s report was approved.
Dale reported on the cemetery maintenance. Things greened up early this year but last year road work was needed to fix a big wash out. The wash out generally held but some of the new gravel washed out this spring. Dale is bringing gravel up from below and has ordered a shipment of gravel to fix it. The cemetery has been fertilized. 1 Tree was snow damaged and has lost its top. Paul Bohnert will take the tree own and will take the wood.
Last year the cemetery had 15 burials with 5 cremations, 10 regular burials and 1 infant. This year, to date, there have been 3 cremations and 1 regular burial. There is interest in the purchase of 2 additional lots. Veteran flags will go on the graves on Friday or Saturday. Flags are also placed at the entrance to the cemetery. The sign is now complete but has not been installed as yet. A review of extra charges for winter services was made. Seppman charges an additional $100.00 to prepare the grave if there is frost in the ground. Snow removal is also paid by the people with a winter burial. The supervisor’s report was approved.
The president’s report was offered. We should check on the place for the Fall meeting as the US Bank is moving. The meeting is tentatively set for September 18 at 10:00 A.M.
The Historical Society walk through the cemetery was successful. The Historical Society had many interesting stories of various grave sites. This might be used for advertising purposes in some way. For instance, maybe the Free Press would write a personal interest story on the cemetery. We should investigate other ways the cemetery could develop free advertising.
It was suggested and will be carried out to put a legal notice of the Fall meeting at the cemetery in the Free Press and open the meeting to public.
Old Business: Ruth Otto was added to the By-Law Committee. Checks & Balances on the finances will start with Dean and Barbara. Only 2-3 checks are written per month on average. Purchase Orders were used for issuing checks but it has become more difficult to use P.O.s with on-line payments.
The By-Laws are not finished as yet.
The discussion of how to raise more money was continued. The Finance Committee used to loan money on properties with 50% down payment. We could try investments other than CDs. It will be 2014 before the interest rates increase again. It is necessary to do something to offset the loss of interest income to the cemetery. Suggestions included:
- Send an annual letter out for donations
- Keep up with current trends. The increase in the price of our lots is not significant. So we should look into the legality of what can be done with the money. The Perpetual care money is protected but we have $150,000 in other money that could be invested.
- Check with an investment broker for recommendations.
- Place advertising in funeral homes.
Ruth said we have not gotten good cooperation from the funeral homes. Mankato Mortuary has links to other sites on their web-site such as flower shops.
Dale will contact them to see if Minneopa could be added as a link.
Committee for checking investments is Doug, Dean, and Barbara. The cemetery is incorporated in Minnesota. There is a law for “Use of funds for public cemeteries. Dale said that Minneopa is doing better than most private cemeteries. Church cemeteries are doing O.K. but church cemeteries are not self-supporting as their church stands behind them. County cemeteries pooled funds when all the small churches closed but they still ask for money at the related churches.
Glenwood charges $800 each for monuments. Calvary requires 4 graves for one – 3 as graves and 1 for the monument.
The cemetery has several acres of farmland which could be rented. Check for cropland rents.
Meeting Adjourned 10:55