While City Hall conducts a study that will ultimately lead to a comprehensive business plan for Woodlawn Cemetery and Mausoleum, a long-time relationship with a financial firm that has overseen the management of cemetery maintenance funds will be extended.
RNC Capital Management has provided investment management services for the cemetery for the past 16 years, overseeing, along with other financial services, an account set aside for the perpetual care of the final resting place for the cemetery’s residents.
City Hall is expected to find a new investment management firm to oversee the perpetual care fund after the business plan is finalized, but since its current contract with RNC Capital Management has exceeded its $70,000 allotment, city staff is asking the council to increase the contract by an extra $60,000, bringing the total of the contract to $130,000.
Originally published in the Santa Monica Daily Press print edition on January 8, 2008. Read the original PDF.