The Houston Police Burial Fund Board of Trustees met in regular session at the HPOU building on July 14, 2020. The meeting had originally been scheduled for May 7 but was postponed due to the Corona virus pandemic.
The principle purpose of the meeting was to set the FY 2021 budget. The treasurer reported that the Burial Fund’s annual revenues have been increasing over the last two years by about $10,000 per year. The source of this increase has been from membership dues and charitable contributions to the fund.
However, the treasurer also reported that the Burial Fund’s expenditures over the last year still required some of the principal from the Burial Fund’s trust account.
It has been the Board of Trustees’ policy over the last three years to work to completely stop spending the trusts fund’s principal which took 99 years to build. In addition, the trustees want to start reinvesting some of the trust fund’s investment gains back into the trust, gradually building it back up to its former level.
The Burial Fund’s trust fund has two primary purposes: 1) to generate some investment income to supplement the Burial Fund’s contribution to police officer funerals and 2) to be available for emergencies such as a possible spike in member deaths due to the Covid-19 pandemic.
To meet the policy goals stated above and to respect the trust fund’s purposes, the Board of Trustees set the new donation amount to member’s funerals at $2,500. It is projected that this amount will keep the Burial Fund from using any of the trust fund’s principle. It will also allow for a $50,000 reinvestment of the trust fund’s projected income in FY 2021 back into the trust fund.
In short, the Burial Fund is now functioning within a budget structure that makes it operate primarily off annual dues and donations. This type of structure puts the Burial Fund on a healthy foundation to begin its second 100 years.
The Board of Trustees cancelled open enrollment for calendar year 2020 due to the pandemic emergency. It will be up to the general membership to determine if and when there will be another open enrollment.
A motion carried directing the Burial Fund president to switch to video conferencing for future board meetings during the pandemic.
Several trustees are investigating other sources of income for the Burial Fund. If any police officers have connections with companies or philanthropists, please let us know. We are always looking for donations. Also, let your loved one’s know that you would like your obituary to read in lieu of flowers please make donations to the Houston Police Burial Fund. Finally, consider remembering the Burial Fund in you will.
The Burial Fund recruited two cadet classes after the July Board meeting. Every cadet except one joined out of Class 245. Eighty-seven percent of Class 246 joined. This lower recruiting rate for Class 246 was due in part to the fact that about 5 cadets were out sick that day. Even though we leave forms, it is always difficult recruiting absentee cadets.
The next meeting of the Board of Trustees is scheduled on Thursday, September 3, 2020 via video conferencing.