Umbaugh It's all about experience

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About Umbaugh

With more than 65 years of experience and expertise in all areas of public finance, Umbaugh is one of the largest and most active independent municipal advisors to governmental units in the Midwest.

UMBAUGH provides timely, independent, meaningful and actionable financial guidance for cities, towns, townships, counties, utilities, schools, libraries, hospitals and airports.

We solve problems, create opportunities and complete successful financings. In short, we help community leaders resolve the financial issues they face as they work to improve the quality of life in their communities.

Our client service leaders are supported by a staff of over 100 people in four offices.

Client Service Leaders

Heidi L. Amspaugh

Heidi L. Amspaugh

Principal, Indianapolis, IN

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Heidi Amspaugh joined Umbaugh as an Analyst in 2006 after working as an intern. She graduated from Indiana University - Bloomington with a Bachelor of Science degree in Public Affairs from the School of Public and Environmental Affairs (SPEA) with a concentration in Public Financial Management, and with a certificate in Non-Profit Management. She is a registered Municipal Advisor and holds a Certified Independent Professional Municipal Advisor (CIPMA) designation.

Heidi has been involved in many areas of the firm’s practice, including economic development, tax increment finance (TIF), structuring incentive packages for industrial/commercial prospects, and the financial planning associated with the issuance of both tax-exempt and taxable bonds for communities around the State.

Heidi has been on various panels discussing public financial management topics for the School of Public and Environmental Affairs at Indiana University – Bloomington and for many Indiana associations. She serves on the Board of the National Association of Municipal Advisors (NAMA) and was recently elected as Treasurer for Indiana Economic Development Association (IEDA).

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Doug L. Baldessari

Doug L. Baldessari, CPA

Partner, Indianapolis, IN

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Doug Baldessari’s practice includes financial studies and projects for municipally-owned water, sewage and stormwater utilities, not-for-profit water, regional water and sewer districts and conservancy districts. These projects often involve bond financing, financial analysis and determining utility revenue requirements, cost-of-service studies and financial planning associated with capital acquisition.

He has served as an expert accounting witness before the Indiana Utility Regulatory Commission on behalf of clients in connection with improvement projects, bond issues, and rate increases. He has been a guest speaker for various professional organizations.

Baldessari has been with Umbaugh since 2000 and is based in the Indianapolis office. He is a member of the American Institute of Certified Public Accountants, the Indiana CPA Society and the American Water Works Association.

Baldessari received his Master of Professional Accountancy from Indiana University and is a graduate of the University of Connecticut with a degree in business with a concentration in finance.

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Brian C. Colton

Brian C. Colton

Partner, Indianapolis, IN

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Brian C. Colton leads the Public Finance Group and serves on the management committee of Umbaugh. Brian’s practice includes tax increment financing, economic development, municipal bond issues, capital project planning, property tax appeal issues and annexation fiscal plans. Colton has been involved in a number of special projects at Umbaugh, including: the creation of the firm’s right-of-way user fees report for the Indiana Association of Cities and Towns, assisting with fiscal home rule reports for the Accelerate Indiana Municipalities and the Association of Indiana Counties and assisting with the firm’s analysis of the estimated impact of recent and proposed property tax regulations on TIF areas throughout Indiana.

Colton has been a guest lecturer on local government finance topics for the School of Public and Environmental Affairs at Indiana University – Bloomington, on local government funding for the Association of Indiana Counties, on public-private partnerships for the Indiana Association of Cities and Towns Municipal Management Institute and on SEC Regulations for the National Association of Municipal Advisors.

Colton joined Umbaugh in 1997. He has a degree in economics and political science from the University of Iowa and a Master of Public Affairs with concentrations in public financial management and policy analysis from the School of Public and Environmental Affairs at Indiana University. Colton is based in Umbaugh’s Indianapolis office.

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Brian S. Cooper

Brian S. Cooper

Principal, Columbus, OH

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Brian Cooper concentrates on general obligation, income tax revenue, non-tax revenue and special revenue bonds. Since 2003, Cooper has worked on 120 distinct project financings in Ohio representing over $2.75 billion in financed projects for municipal finance, economic development, utilities and infrastructure.

Cooper graduated from the Ohio State University in 2001 and is a municipal advisor registered with the Securities and Exchange Commission (SEC) and with the Municipal Securities Rulemaking Board (MSRB).

He has been a presenter at the Council of Development Finance Agencies’ national conference and serves as their muni bond advisor for both beginner and advanced bond courses and has also presented at the annual conferences for the Ohio Economic Development Association, the Ohio Government Finance Officers Association and is a guest lecturer at the Ohio State University.

Cooper joined Umbaugh in 2015 when his practice, ACI Advisors, LLC, merged with Umbaugh. He is based in Umbaugh’s Columbus, Ohio office.

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Christina Cromer

Christina Cromer, CPA

Principal, Indianapolis, IN

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Christina Cromer’s practice focuses on arbitrage rebate which helps issuers of tax-exempt debt navigate the complexities of the IRS Code and Regulations. She assists clients in identifying exceptions to rebate for which they may qualify, and when necessary, prepares rebate liability and yield reduction payment calculations.

Christina has been with Umbaugh since 2006. She is a honor graduate from the Kelly School of Business at Indiana University in Indianapolis with Bachelor of Science degrees in both Accounting and Finance. She is a member of the Indiana CPA Society and the American Institute of Certified Public Accountants. She resides in Greenwood and is based in Umbaugh’s Indianapolis office.

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Christina M. De Witt

Christina M. De Witt, CPA

Principal, Indianapolis, IN

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Christina M. De Witt has been involved in financial studies for municipally-owned utilities, rate filings with the Indiana Utility Regulatory Commission, not-for-profit corporations, regional water and sewer districts and conservancy districts. These studies quite often have involved the determination of utility revenue requirements, cost of service studies and the financial planning associated with the issuance of tax-exempt bonds.

She is a licensed Certified Public Accountant in the state of Indiana and is a member of the Indiana CPA Society, the American Institute of Certified Public Accountants, and the American Water Works Association.

De Witt is a graduate of Franklin College with a degree in Bachelor of Science Degree in Accounting. Christina joined Umbaugh in March of 2005.

De Witt lives in Indianapolis and is based in Umbaugh’s Indianapolis office.

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Matthew R. Eckerle

Matthew R. Eckerle

Principal, Indianapolis, IN

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Matt Eckerle is a Principal at Umbaugh, and he has been with the firm as a full-time staff member since June 2005.  He graduated from Indiana University - Bloomington in May 2005 with a B.S. in Business with a Finance concentration from the Kelley School of Business.  Matt spent two summers prior to his graduation from Indiana as an intern at Umbaugh.

Matt has been involved in many areas of the firm’s practice including public infrastructure financing and economic development financing for communities around the State of Indiana.   Matt has assisted communities around Indiana with the preparation and negotiation of economic development incentives, evaluation of and planning for tax increment financing (TIF) areas, annual reporting requirements, capital projects financings, and the development or update of recreation impact fees.  Matt has assisted in preparing special legislative analyses for Accelerate Indiana Municipalities and the Indiana Economic Development Association, and he has participated as a guest speaker at conferences of various Indiana local government and economic development associations and as a panelist at an annual conference of the National Association of Municipal Advisors. Matt is a Certified Independent Professional Municipal Advisor (CIPMA) and holds a Series 50 Municipal Advisor Representative qualification.

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Marvin L. Founds

Marvin L. Founds

Director, Columbus, OH

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Formerly the Public Finance Managing Director of a large Midwest Capital Markets Investment Bank, Mr. Founds is now Umbaugh’s  Director of Ohio Education Finance providing municipal advisory services to schools and other local governments. Mr. Founds has been a public finance professional for more than 28 years serving as the Treasurer of a large Central Ohio School District prior to his experience as an investment banker.  Mr. Founds is a registered municipal advisor.

 

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Belvia B. Gray

Belvia B. Gray

Principal, Indianapolis, IN

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Belvia B. Gray has been involved in many areas of practice at Umbaugh, but she is especially active in bond issues for schools and libraries, budgeting and legislative analysis.

Belvia was a founding and current board member for the Indiana Women in Public Finance association. She is also on the Butler University Alumni Board of Directors.

She earned a Bachelor of Arts degree in political science and public relations from Butler University and a Master of Public Affairs degree from the School of Public and Environmental Affairs at Indiana University – Bloomington with concentrations in public financial management, policy analysis and economic development. She joined Umbaugh in 2005. Gray is based in the Indianapolis office.

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James J. Hargrove

James J. Hargrove

Principal, Columbus, OH

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James J. Hargrove is a quantitative structuring specialist and advisor who has structured over $15 billion in bonds, swaps and investment contracts since 1989. Hargrove’s prior experience includes 10 years as an investment banker, seven years as a fixed income derivatives specialist, and nine years as an independent financial advisor serving state government, cities, counties, school districts and higher education clients in Ohio and Georgia. Hargrove became a principal in and co-owner of Prism Municipal Advisors, LLC in 2009.

He joined Umbaugh when Prism merged with Umbaugh in 2015.

Hargrove’s experience as an investment banker, derivatives specialist, and financial advisor allows him to bring practical hands-on experience to every aspect of a transaction. He has been a speaker for the Bond Buyer Midwest Conference, the National Association of Bond Lawyers bond attorney workshop and the Oregon Municipal Finance Officers Association annual conference.

Hargrove earned a B.S. in business administration with a concentration in finance from the Ohio State University. Hargrove is part of Umbaugh’s Columbus, Ohio office.

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Daniel A. Hedden

Daniel A. Hedden, CPA

Partner, Indianapolis, IN

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Daniel A. Hedden’s practice is focused on management advisory services, ranging from training to budget services, budget modeling, financial management reports and advanced services involving financial accounting and reporting. In addition, he assists governmental units with process management and increasing their technology utilization to provide better and more useful information to a wider range of users. Hedden has been involved with financial studies for municipally owned utilities, not-for-profit corporations, regional water and sewer districts and conservancy districts.

Hedden joined Umbaugh in 1996.

He served in the United States Army and the Indiana Army National Guard and is a graduate of Indiana University-Purdue University in Indianapolis with degrees in accounting and finance. He has completed professional courses sponsored by the American Institute of Certified Public Accountants, the Indiana CPA Society and other professional organizations. Hedden is a member of the American Institute of Certified Public Accountants, the Indiana CPA Society, the Association of Government Accountants and the American Water Works Association.

Hedden lives in Fortville and is based in Umbaugh’s Indianapolis office.

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John D. Julien

John D. Julien, CPA

Partner, Mishawaka IN

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John D. Julien works with utilities and municipalities. He has conducted financial studies for municipally owned sewage, water, stormwater, electric and gas utilities, regional water and sewer districts and conservancy districts. These studies often involve short- and long-term financial planning, cost-of-service studies and financial planning for the issuance of municipal tax-exempt bonds, notes and loans. In addition, Julien has worked extensively on municipal tax budgets, economic development projects, tax incremental financing projects, annexation studies and the issuance of tax-supported and income-supported debt.

Julien has presented at seminars sponsored by the U.S.D.A. – Rural Development (formerly FmHA), the American Association of Civil Engineers and the Michigan and Indiana sections of AWWA and WEA on governmental accounting and public finance, financial planning, performance management, utility rates and cost-of-service studies. He has also been a guest lecturer for the Indiana University School of Public and Environmental Affairs, Bloomington and South Bend campuses.

Julien is a member of the Michigan and Indiana CPA Societies, the American Institute of Certified Public Accountants, Government Finance Officers Association, American Waterworks Association, the National Association of School Business Officers, American Public Power Association and the Water Environment Federation. He has served as an expert witness before the State Tax Board, the Indiana Utility Regulatory Commission and local public hearings regarding utility rate making and tax-exempt financing. He is a graduate of the University of Notre Dame. Julien joined Umbaugh in 1981 and is based in the Mishawaka office.

John is a member of Umbaugh's Executive Committee.

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Megan N. Kilgore

Megan N. Kilgore

Principal, Columbus, OH

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Megan Kilgore is a municipal advisor whose practice concentrates on providing assistance to local governments, utilities, and economic development districts, particularly with financing transactions.

Before joining Umbaugh in 2015, Kilgore was the assistant city auditor for the City of Columbus, Ohio, where she managed all debt of the city. She was directly involved in the issuance of $5.9 billion of municipal securities, including general obligation (fixed and variable rate), revenue bonds, special assessment bonds, and tax increment financings, among others.

Kilgore was chosen to serve as a public member of the Municipal Securities Rulemaking Board (MSRB). Her term would have started in October 2015, but she declined that appointment to become a principal in Umbaugh.

Kilgore earned a bachelor’s degree from The Ohio State University and a master’s degree in public administration (MPA) from Northwestern University.

Kilgore is an adjunct professor at the John Glenn College of Public Affairs at the Ohio State University, where she teaches a graduate-level course in public finance. Kilgore is also a frequent speaker at industry conferences around the Midwest. She is the founder and president of Ohio Women in Public Finance.

She is a 2015 Women for Economic Leadership and Development (WELD) Women You Should Know Honoree, a member of Columbus Business First magazine’s 2015 “40 Under 40” list, and a recipient of the 2012 Women in Public Finance’s Rising Star Award.

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Loren M. Matthes

Loren M. Matthes

Partner, Indianapolis,IN

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Loren Matthes has been involved in public finance for over 30 years.  She assists municipalities in planning and financing all types of projects including government buildings, infrastructure projects, downtown redevelopment projects, parking garages, aquatic centers, educational and arts facilities. Loren also provides assistance with structuring incentive packages for industrial/commercial prospects and negotiating economic development terms with companies, developers and underwriters. These projects often use a combination of incentives and revenue sources, such as tax abatement, tax increment, local option income taxes and State grant funds.

Since Matthes’ involvement with the first tax increment financing (TIF) revenue bond issue sold in Indiana in 1985, she has worked on hundreds of economic development and TIF projects, developing a statewide reputation for her expertise in this area.  She has been a speaker and panelist at many conferences and workshops on topics related to municipal finance and economic development.

Loren Matthes was the recipient of the 2011 Leadership award from the Indiana Economic Development Association (IEDA).  Matthes is a certified Municipal Advisor (MA), a Certified Independent Professional Municipal Advisor (CIPMA), and a graduate of the University of Notre Dame.

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Jeffrey A. Messer

Jeffrey A. Messer

Director of Umbaugh Cash Advisory Services, LLC, Indianapolis, IN

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Jeffrey A. Messer serves as an independent investment advisor in Michigan, Indiana and Illinois. He has 22 years of banking experience in Michigan, Indiana and throughout the Midwest with an emphasis on public funds banking and investments.

At Umbaugh Cash Advisory Services he provides investment and banking services to municipalities throughout Indiana and Michigan, including helping municipalities invest their municipal bond proceeds and operating funds. Messer has assisted municipalities in structuring more than $1 billion of municipal bond proceeds. He also led a team of bankers in creating two new successful municipal investment products.

Messer joined Umbaugh in 2005. His group provides independent advice on investments in excess of $450 million in assets for school districts and local units of government throughout Indiana and Michigan and is responsible for bank analysis and RFPs for banking services for many Umbaugh clients.

Messer also is responsible for the many services provided by the Michigan School Investment Association.

He writes weekly commentary for the Michigan School Investment Association’s Weekly Market Review and is often called upon to give presentations at various association conferences in Michigan and Indiana on investment-related topics.

He is a graduate of Indiana University.

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Mark A. Miller

Mark A. Miller

Director, Columbus, OH

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Mark A. Miller is the Director of the Umbaugh Ohio office, providing assistance to local governments. His prior experience includes acting as managing director, and supervisory principal for a large Midwest Capital Markets Banking Group where he was responsible for marketing and executing capital markets solutions for public finance issuers. Mr. Miller has been a public finance professional for more than 25 years. He has served state treasurers, state agencies, counties, cities, colleges and universities, school districts, convention centers and airports.

Mark possesses a diverse professional background that includes positions in information systems development, internal audit, corporate trust, commercial lending, and investment banking. He received a Bachelor of Science Degree in Finance from The Pennsylvania State University, earned certifications as an EDP Auditor and Corporate Trust Specialist and graduated from Leadership Columbus. Over the years, he has developed and presented a variety of courses for the Ohio Treasurer of State’s Center for Public Investment Management (CPIM) Program, served as an adjunct professor at Bowling Green State University and has guest lectured at The Pennsylvania State University.

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Scott A. Miller

Scott A. Miller, CPA

Partner, Indianapolis, IN

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Scott A. Miller leads the Accounting Services Group and serves on the management committee of Umbaugh. Scott works primarily with utility clients. He has performed financial studies for municipally owned water, electric, gas and sewage utilities, not-for-profit and investor owned water and sewer corporations, regional water and sewer districts and conservancy districts. These studies often involve determining utility revenue and rate requirements, cost-of-service studies and the financial planning associated with the acquisition of capital. Miller also oversees Umbaugh’s regulatory services.

He often speaks on utility rates and financing topics for the Indiana Section of the American Water Works Association, the Indiana Rural Water Association, the Alliance of Indiana Rural Water, the Indiana Association of Sewer Companies, the Indiana Water Environment Association and the Indiana Association of Cities and Towns.

In addition, Miller frequently serves as an expert accounting witness before the Indiana Utility Regulatory Commission on behalf of clients in connection with improvement projects, bond issues and rate increases.

A graduate of the Kelley School of Business at Indiana University in Bloomington, Indiana, Miller is a member of the American Institute of Certified Public Accountants, the Indiana CPA Society, the Indiana Water Environment Association and the American Water Works Association. He has been with Umbaugh since 1995 and is based in the Indianapolis office.

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Jesse R. Nelson

Jesse R. Nelson, CPA

Partner, Lansing, MI

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Jesse Nelson serves as an independent financial advisor to Michigan school districts and local governmental units. He provides clients with options and recommendations that help them accomplish their capital improvement and financial goals.

Since joining Umbaugh in 2004, Nelson has assisted clients in a variety of ways, including completion of millage studies, capital improvement financial plans, School Bond Qualification and Loan Program (SBQLP) applications, bond issuance and utility rate and cost of service studies.

A graduate of Butler University’s College of Business Administration with a Bachelor of Science degree in accounting. Nelson is a Certified Public Accountant. He is a member of the Michigan Government Finance Officers Association, the Bond Club of Detroit and the American Institute of Certified Public Accountants.

Based in Umbaugh’s Lansing, Michigan office, Nelson has been the guest speaker on the topic of school improvement finance at regional and annual Michigan School Business Officials meetings. He has also served as an expert witness in the area of school finance.

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Curt W. Pletcher

Curt W. Pletcher, CPA

Partner, Mishawaka, IN

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Curt W. Pletcher's practice includes working or includes schools, cities, towns, counties and libraries, providing financial advisory services for financing and refinancing opportunities as well as providing other client accounting and financial services.

has more than 25 years of financial and accounting management experience in the public and private sectors. Pletcher, a graduate of Indiana University, joined Umbaugh in 2000. He is a member of the Indiana CPA Society and the American Institute of Certified Public Accountants.

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Susan Borries Reed

Susan Borries Reed

Director of Disclosure Strategy and Services, Indianapolis

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Susan is the firm's Director of Disclosure Strategy and Services and her practice area includes overseeing disclosure documents that the firm prepares on behalf of clients at the time of bond sales as well as post issuance. Additionally, her work includes working with issuers prior to and during the rating process to ensure that issuers are prepared to address rating agency questions. Susan recently worked with communities across Indiana as Director of Economic Development and Community Services for the Indiana Municipal Power Agency. Susan is also an attorney licensed in Indiana and South Carolina and has worked as bond counsel for an Indiana law firm.

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Deen C. Rogers

Deen C. Rogers, CPA

Partner, Indianapolis, IN

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Since joining Umbaugh in June 2000, Deen C. Rogers has been involved with numerous professional engagements including financial studies for municipally owned utilities, not-for-profit corporations, regional water and sewer districts and conservancy districts. These studies quite often have involved the determination of utility revenue requirements, cost-of-service studies and the financial planning associated with the issuance of tax-exempt bonds.  Deen is also the firm’s primary annexation expert, which has led to his involvement with dozens of clients in the preparation of over 100 fiscal plans.  Finally, Deen has also been responsible for the preparation of benefit-cost analyses for several TIGER grant applications. 

In 2013, Rogers became a Principal in the Accounting Services Group of Umbaugh.  A graduate of the Kelley School of Business at Indiana University in Bloomington, Indiana, with Bachelor of Science degrees in both Accounting and Finance, Rogers has also completed professional courses sponsored by the American Institute of Certified Public Accountants, the Indiana CPA Society, the Government Finance Officers Association and other professional organizations.

He is a member of the Indiana CPA Society, the American Institute of Certified Public Accountants, and the American Water Works Association.

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Jeffrey P. Rowe

Jeffrey P. Rowe, CPA

Partner, Mishawaka, IN

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Jeff Rowe provides accounting and financial advisory services for various governmental entities, and works primarily with public utilities.  Experience includes assisting municipalities with the issuance of tax-exempt securities for the financing of construction projects and the refinancing of outstanding debt. He also specializes in the area of rate-making for utilities requiring the development and restructuring of rates and charges for municipal water, sewer, stormwater and electric utilities, as well as regional water and sewer districts and conservancy districts.

Rowe also works with a number of communities to provide ongoing financial management services, including contract controllership services, the development of multi-year operating and capital improvement budgets, financial forecasting, maintenance of proper cash reserves, and guidance in the area of accounting and recording procedures.

Rowe is a 1997 graduate of Indiana University, South Bend, where he majored in accounting and earned a Bachelor of Science Degree in Business. He is a licensed Certified Public Accountant in the State of Indiana and is a member of the Indiana CPA Society, the American Institute of Certified Public Accountants, the Indiana Association for Floodplain and Stormwater Management and the American Water Works Association.  Rowe is also a licensed Municipal Financial Advisor.

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Todd A. Samuelson

Todd A. Samuelson, CPA

Executive Partner, Mishawaka, IN

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Todd A. Samuelson works with cities, towns, counties, school corporations, libraries and utilities on comprehensive financial planning, bond issues and economic development. He also assists numerous clients with budgeting, forecasting and strategic planning.

Samuelson worked with White County, Indiana on an alternative energy economic development project which will become the largest wind farm development in Indiana. In addition he has worked on economic development packages in Whitley County, Indiana for Steel Dynamics; a county corrections complex and strategic planning for Elkhart County, Indiana; and bond issues for major facility improvements for the Allen County Public Library in Fort Wayne, Indiana.

Samuelson has provided expert testimony at local and state public hearings on capital projects, tax increment financing (TIF), property and income tax matters and issuance of tax-exempt bonds. He also has been a speaker on numerous occasions for the Accelerate Indiana Municipalities (AIM), the Association of Indiana Counties, the Indiana Association of County Commissioners (IACC), the Indiana Library Federation, the Michigan Library Federation, the Michigan School Business Officials and the Indiana League of Municipal Clerk Treasurers.

Samuelson is a member of the Indiana, Michigan and Illinois CPA Societies and the American Institute of Certified Public Accountants. A 1987 graduate of DePauw University, Samuelson was a senior accountant and financial advisor with Arthur Andersen & Company in Chicago before joining Umbaugh in 1989. He is based in Umbaugh’s Mishawaka office.

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Paige E. Sansone

Paige E. Sansone, CPA

Partner, Indianapolis, IN

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Paige E. Sansone’s professional engagements include financial studies for municipalities that often determine the impact of levies, tax rates and assessed values based on changing local or legislative initiatives. In addition, she assists numerous taxing units with budget preparation and capital planning. She has been a guest speaker for many municipal and county events, such as the Newly Elected Official Training sponsored by AIM, the IMLCT Clerk’s Institute, and the County Commissioners Conference. She is also a featured instructor of the AIM-sponsored Municipal Management Institute.

Prior to joining Umbaugh in 2003, Sansone was the assistant budget director for the Indiana Department of Local Government Finance (DLGF). Her primary focus at DLGF was local government budgeting and she was a voting member of the Local Government Tax Control Board. Before working for the DLGF, Sansone was the administrative manager for the Seymour District of the Indiana Department of Transportation (INDOT).

Sansone is a graduate of Indiana University with a degree in finance and a Master of Professional Accountancy. Sansone lives in Indianapolis and is based in Umbaugh’s Indianapolis office.

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John M. Seever

John M. Seever, CPA

Partner, Indianapolis, IN

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John has been involved in many professional engagements, including financial studies for cities, towns and utilities. These studies often involve budgeting, financial reporting, annexation, consolidation and financial planning for municipalities and the determination of revenue requirements, cost-of-service studies and the financial planning associated with the issuance of debt and capital project planning for utilities.

He is a frequent speaker concerning municipal finance and utility rates before various trade groups including AIM, IMLA, IACC, IRWA and IWEA often serves as an expert witness on behalf of clients. John has testified before the Indiana General Assembly on matters related to utilities.

He is a member of the American Institute of Certified Public Accountants, the Indiana CPA Society and the Governmental Finance Officers Associations, among other professional groups. In addition, he currently serves on Accelerate Indiana Municipalities’ Board of Directors; he is past Chair of the Indiana Section American Water Works Association and was Chair of the AWWA National audit committee for two years.  John is a member of the Board of Directors of Easterseals Crossroads of Central Indiana.

Seever graduated from Indiana University – Bloomington. He joined Umbaugh in 1982 and is based in Indianapolis.

John is a member of Umbaugh’s Executive Committee and currently serves as the firm's practice development partner.

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Jason G. Semler

Jason G. Semler, CPA

Partner, Indianapolis, IN

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Jason G. Semler's practice includes economic development, financing and utility projects. His economic development work involves developing diverse revenue sources, such as tax increment financing (TIF) and local option income taxes, examining taxing units’ assessed values and their respective abatements, and the financial planning associated with the issuance of both tax-exempt and taxable bonds.

Semler has been involved in numerous governmental projects, including projects financed by bonds secured by ad valorem taxes, income taxes and food and beverage taxes. He also has assisted communities with their capital project planning efforts and analyzed the estimated impacts that recent and proposed property tax regulations could have on various clients throughout Indiana.

He is a member of the Indiana CPA Society and the Indiana Economic Development Association.

Jason is a graduate of Ball State University with a degree in finance with concentrations in corporate financial management and financial planning. He joined Umbaugh in 1999. A resident of Noblesville, Semler is based in the Indianapolis office.

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Tim Sutton

Tim Sutton

Director of Bond Pricing, Indianapolis

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Tim is a 17-year financial services veteran. For 10 years he has worked for one of the leading Underwriter firms in the Midwest specializing in trading and underwriting municipal bonds. He has been on both the buy side and sell side of municipal transactions, and his focus has been mainly on the Midwest: Indiana, Ohio, Kentucky and Michigan. He has worked with institutional as well as retail bond buyers and sellers. Tim has extensive experience with general obligation, school, tax increment financing, water, sewer and conservancy district bonds.

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Tom Traciak

Tom Traciak

Principal, Lansing, MI

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Tom Traciak’s practice includes bond issues, grant funding, tax increment finance, rate studies and lease-purchase agreements for local governments throughout Michigan. He has a particular expertise in working with governments experiencing difficult credit and revenue support situations and has a concentration in water and sewer utilities.

Prior to joining Umbaugh in 2011, Traciak was president of ACI Finance, Inc. in Mason, Mich., a company he formed in 1996 that served local governments throughout Michigan with capital financings. He has worked in accounting, budgeting and finance in both the public and private sectors for more than 30 years.

Traciak is a graduate of the University of Michigan and earned his master’s degree in public policy and administration from Michigan State University.

Traciak is based in the Lansing Umbaugh office.

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Eric J. Walsh

Eric J. Walsh, CPA

Partner, Mishawaka, IN

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Mr. Walsh is a graduate of Goshen College in Goshen, Indiana with a Bachelor of Arts degree with a major in Accounting.  He has also completed professional courses sponsored by the American Institute of Certified Public Accountants, the Indiana CPA Society, the American Water Works Association, the National Rural Electric Cooperative Association and other professional organizations.  Mr. Walsh is a member of the American Institute of Certified Public Accountants, the Indiana CPA Society and the American Water Works Association.  He has served as an expert witness before the Indiana Utility Regulatory Commission and local public hearings regarding utility rate making and tax exempt finance.  He also serves as on the board of directors for the Fulton County Rural Electric Membership Cooperative located in Rochester, IN.  Mr. Walsh has presented at seminars sponsored by the Accelerate Indiana Municipalities, the ILMCT Clerk’s Institute, the Alliance of Indiana Rural Water, and the Indiana Rural Water Association.

Eric joined Umbaugh in June 2006 and in 2008 successfully completed the requirements to become licensed as a Certified Public Accountant in the State of Indiana.  Eric has been involved with several professional engagements including budget services and financial studies for municipally-owned utilities, regional water and sewer districts and conservancy districts.  These studies quite often have involved the determination of utility revenue requirements, cost of service studies and the financial planning associated with the issuance of tax-exempt bonds.

Eric focuses his efforts on Financial Management Services in response to client needs ranging from training, budget services, annual reporting, financial management reports, tax exempt bond issuance, cost of service studies and advanced services involving financial accounting and reporting.

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