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Germantown committee approves RFPs for municipal advisor and investment services
Summary
Staff will issue two draft requests for proposals—one for municipal advisory services (bonding, compliance) and one for investment advisory services—to ensure competitive market rates and update contracts that have not been bid in 5–10 years.
The General Government and Finance Committee approved staff plans to post two draft requests for proposals: municipal advisory services (bond issuance and compliance) and municipal investment services (management of invested reserves and bond proceeds).
Nut graf: The village has not sought a new municipal advisory services contract in at least five years and has not issued an RFP for investment advisory services in roughly nine to ten years. Staff said the RFPs aim to test market rates and ensure competitive service for bond issuance, TID reporting and investment of general fund reserves.
Details: Staff said the municipal advisory services RFP would seek a start date of Jan. 1, 2026, and that common providers such as Baird and Ehlers would be invited. Staff said initial evaluation would be done internally (administrator, DPW director, clerk and finance staff) with a staff recommendation to the committee. On investments, staff said Ehlers currently handles investments and that the village typically has roughly $12–13 million invested and about $6 million in general fund reserves that are actively managed throughout the year. A staff estimate for annual advisory spending on municipal advisory services was described as around $20,000, although actual fees vary by bond issuance size.
Discussion vs. decision: The committee discussed evaluation procedures, potential invitees and the scope differences between the two services—bond advisory vs. ongoing investment management. The committee voted to approve posting the draft RFPs (one motion for advisory services; a separate discussion produced a plan to post the investment RFP) and to accept staff recommendations about timelines and evaluation approaches.
What comes next: Staff plans to post the RFPs (staff said they intended to post as soon as the following day if there are no substantive changes), collect proposals, conduct an internal evaluation and then present recommendations and proposals to the committee and Village Board for contract awards.
