Death Care Law Blog
April 7, 2012
City of Springfield, Illinois
The Mayor’s attorney blames Oak Ridge’s board of directors for bad investments and netting deposits, and recommends that the control of the cemetery be changed. With the increase in cremations (and the decline in burials), the Oak Ridge board failed to adapt, and instead, spent the funds that should have been contributed to the trusts. To make up for the decline in trust contributions, the board took more risks with trust investments, which exposed the trusts to the market declines of 2008. The combination of netting consumer payments and investment declines put Oak Ridge in a deep hole. And now, the Mayor’s attorney thinks it’s time for a change in management, and for the cemetery to start living within its means. Sounds like sage advice, but it’s not very practical.
Read the full article at Death Care Law Blog