East Troy library presents operational study and announces $1 million endowment

Library staff presented an operational-cost study and a capital planning update, and announced a $1 million donor gift to create an endowment to support the East Troy library.

The presentation reviewed staffing scenarios tied to a potential new building, with recommendations ranging from a "bare-bones" option to a higher-service package that would move the library toward five full-time equivalents over a multi-year timeline. The architect's building estimate included a projected electric cost cited in the packet of roughly $34,000 per year (electric only); staff said heating costs were not included in that figure and the growth assumptions for utility costs were not detailed in the materials.

Staff and trustees said the library already is exploring solar panel grants to offset operating costs. The board was also told the library has created an endowment fund and "we have a donor that gave us a million dollars to start an endowment fund," a gift the presenter said was received and deposited in May. The endowment policy recorded in the packet is designed to protect the principal and limit annual spending to approximately 3% of earnings while the village considers new-building options.

Library trustees and staff outlined an unofficial timeline (some participants cited a five-year fundraising goal, the official estimate referenced a longer horizon) and said the fundraising committee aims to raise at least 50% of capital costs through grants and private donations. The library also signed an agreement with the East Troy Area Community Foundation to manage raised funds at no cost to the library.

What happens next: Staff and trustees will continue fundraising and may request board action later to set aside land or take other capital steps; the operational figures may be refreshed if the building timeline lengthens or design assumptions change.