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Germantown committee recommends Baird as municipal advisor and approves PMA investment contract
Summary
After reviewing three municipal advisor finalists, the committee recommended Baird (top score 94.2) to the village board and approved a five-year investment advisory contract with PMA Asset Management LLC; the committee also amended the village investment policy to reflect reporting to GGF and to add PMA.
The General Government Finance Committee recommended two changes to how Germantown manages its public finances: selecting Baird as the village's municipal advisor and approving an investment advisory contract with PMA Asset Management LLC.
Staff described a competitive interview process that scored three firms: Baird (94.2 points), Ehlers (94.0) and PFM (79.6). Committee members noted that Baird proposed potential cost savings such as combining multiple years into a single issuance and recommended a five-year financial plan; the committee voted to recommend Baird to the village board.
Separately, committee members considered and approved a five-year contract beginning Jan. 1, 2026, with PMA Asset Management LLC to provide investment advisory services. Staff clarified this contract is distinct from the village's investment policy.
The committee also voted to amend the village investment policy to clarify that certain investment reports would be provided to the General Government Finance Committee and that PMA be added as an advisor while removing outdated vendor references. Trustees discussed authorized personnel titles and a minor correction to a listed depository name.
The committee recorded affirmative votes on the PMA contract and on the investment policy update; both items will be forwarded to the village board for final approval.
