Board approves PMA to manage district referendum bond proceeds and investment reporting

The board voted to approve PMA (Public Financial Management affiliate) to provide investment and financial management services for the district’s referendum/bond proceeds after a presentation describing PMA’s services.

Aaron (district staff) introduced Josh Bridal of PMA, who told the board PMA works with approximately 235 school districts and manages about $1.5 billion in referendum proceeds for Wisconsin issuers. Bridal described PMA’s role as protecting district assets, competitively bidding short‑term investment options, and performing post‑issuance compliance and arbitrage reporting required for tax‑exempt debt.

Bridal said PMA partners with a broad network of institutions — he referenced roughly 1,200 banks and several dozen securities dealers — and that PMA would work with the district to match investment choices to the project draw schedule. He told the board the district should expect reporting throughout construction and investment cycles and that PMA would assist with IRS compliance if arbitrage liability calculations are required.

District staff noted the district expects to receive approximately $70,000,000 in bond proceeds to invest and that PMA would help manage cash flows through the construction period (Bridal estimated a 2–3 year window depending on project timing). The board moved and seconded the recommendation; the motion passed on a voice vote (no roll‑call tally recorded in the public transcript).

The board did not provide contract details in open session; staff said additional agreement terms and reporting cadence would be brought back to finance staff and the board for follow up.