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Town explains $1 million cemetery perpetual care fund and how it’s sustained
Summary
Staff said about $1 million sits in the cemetery perpetual care fund, funded historically by dedicating roughly 70% of lot-sale proceeds to the endowment so interest should cover long-term maintenance.
The presenter told the council the cemetery perpetual care fund holds about $1 million and was established so a fixed portion of lot-sale proceeds would be deposited into an endowment to generate interest for maintenance.
Staff explained that historically roughly 70% of proceeds from lot sales were placed into the perpetual care fund so as lot sales end the interest income should cover mowing and basic maintenance. Staff said they would search for the original study or policy from the 1980s–1990s that set the target funding level and report back if additional documentation exists.
