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Board approves Morgan Stanley broker, $22.8M in payables, grants and compliance contracts
Summary
The board authorized Morgan Stanley as the county 457 broker, approved $22,831,682.22 in accounts payable, reprocured arbitrage compliance services, approved a five-year Cummins maintenance contract and awarded $350,026 in one-time senior millage grants to 18 programs.
The Muskegon County board approved a cluster of finance and procurement items that the finance director and department heads described as routine operations and compliance.
The board authorized the human resources department to select Morgan Stanley as the county’s 457 retirement plan broker for a five-year term through May 25, 2031 (WM26-05-43). Angela Gashevsky, the finance director, also presented a motion to reprocure arbitrage rebate compliance services for the county’s tax-exempt debt, explaining that vendors prepare IRS reporting when bond proceeds earn excess interest to avoid penalties (WM26-05-48).
On finance approvals, the board approved payment of accounts payable totaling $22,831,682.22 covering March 21–April 24, 2026, and related P-card and EFT payments (WM26-05-50) by roll call. The board also approved a one-time increase of $350,026 in senior millage grant awards across 18 programs; Kathy Moore, public health director, said these are rollover dollars from underspent grant allocations and do not change regular operating budgets (WM26-05-51).
The board approved a five-year, sole-source planned maintenance agreement with Cummins Sales and Service for generator maintenance with a not-to-exceed fee of $25,893.37 for the five-year term; Public Works Director Wade Vanden Bosch said the total covers all five years and the annual cost is under $6,000 (WM26-05-52). All motions passed.
