1870 Trustee Meeting Minutes, Volume 5, 1831.005.005

Report of Com on Finance referred to at page 108

The Board of Trustees of Mount Auburn Cemetery. Boston, October 11, 1871.

The Committee on Finance take this occasion to bring to the attention of the Board the financial condition of the corporation.

It is well known that to complete the improvements commenced by our predecessors, and carry forward those voted by the Board, – the purchase of the "Watriss Lot", and the fencing the same, have made quite an inroad into the savings of previous years which had been invested.

Last year the expenditures exceeded the income, and showed the available funds on hand $30,943.04 against $50,916.21 the previous year.

The enclosed exhibit made by the Treasurer Sept. 28, 1871, of the estimated expenditures and receipts for the balance of the present year shows a deficit of $16,549.88. This would reduce our available means to $14,393.16 and compel us to sell U. S. stocks to make good the deficiency.

But to place the Sphynx in place we think will involve an expenditure not ennumerated in the Treasurer's estimate.

The sum of $14,393.16 is too small for us to rely upon.

Without quetioning our action in the improvements

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now making, and to be made under authority of this Board, which we have voted for with great unanimity, believing that the welfare and good care of the Cemetery required such action, still this Committee are now of the unanimous opinion that no new work should be undertaken involving the expenditures of such sums of money as will compel us to exceed our revenue the coming year. This would not hamper the Superintendent in the general adornment of the grounds, but place us in a postition which prudence and a wise economy requires.

It is well known to the Board that the Permanent Fund for repairs is to amount to $150.000. before the interest on the same can be used for the care of the grounds, (the last annual report stated it at $115.456.76) and taking in view the fact of the large quantity of land which has been sold, and the number of Avenues and Paths to be cared for, your Committee are also unanimously of the opinion that this sum should reach $200.000. – before any of the interest on the same is touched; believing an annual interest of $14.000. – is small enough for the purposes for which the Fund was created.

Respectfully submitted;