By Kim McDarison
The Fort Atkinson City Council Tuesday received an update about resources held within two trust accounts established in support of the city’s Historical Society.
Both accounts are held at Premier Bank and both were established in 1999, according to a memo to council written by City Clerk/Treasurer/Financial Director Michelle Ebbert.
Each of the two accounts are managed by different entities, Ebbert wrote: one by the city and the other by the Historical Society.
Commenting on the account managed by the city, Ebbert said the fund was established by the Mary Hoard Estate in the amount of $739,199. At the time of its establishment, it was designated for “broad uses,” including costs associated with “capital, maintenance and operations,” at the Hoard Historical Museum.
In more recent years, the fund has been used to finance repairs and improvements at the museum, including roofing, HVAC and air handling systems, a boiler, video security, a space study, computers and personnel costs.
A look at year-end balances for the fund over a three-year period shows growth. In 2018, the fund held $813,702; in 2019, it held $880,651; and in 2020, the fund contained $976,291.
Commenting on the account managed by the Historical Society, Hoard Historical Museum Director Merrilee Lee noted that monies from the fund have been used to support part-time staffing costs at the museum and $100,000 was used to fund the Hoard Legacy Building Project. The fund managed by the Historical Society was begun with $526,956.
Looking at year-end balances, the fund managed by the Historical Society has also shown growth. In 2018, the fund held $921,959; in 2019, it held $1.03 million; and in 2020 it held nearly $1.12 million.
Lee further reported that Tuesday was the first day that the museum was open to the public after closing in response to the COVID-19 pandemic last year.
No visitors had arrived on Tuesday, she said, but, she added, “We are glad to be back open.”
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