Umbaugh It's all about experience

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About Umbaugh

With more than 60 years of experience and expertise in all areas of public finance, H. J. Umbaugh & Associates Certified Public Accountants is one of the largest and most active independent financial 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 approximately 70 people in three offices.

Client Service Leaders

Todd A. Samuelson, CPA

Executive Partner, Mishawaka, IN

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Experience

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 Indiana Association of Cities and Towns (IACT), 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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Gerald G. Malone, CPA

Partner, Indianapolis, IN

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Experience

Gary Malone’s practice at Umbaugh includes numerous projects for local governments, including bond financing, financial analysis and economic development. He has helped local governments develop financial incentives for such major companies as Toyota, AK Steele, Chrysler/Getrag, Honda and Medco.

Malone frequently testifies as an expert witness on the subject of municipal finance before the Indiana General Assembly, state regulatory agencies and local public hearings. He has been a guest speaker and panelist for the Indiana Continuing Legal Education Forum, the Indiana Association of Cities and Towns, the Association of Indiana Counties and several other professional organizations.

He has been with Umbaugh since 1975 and is based in the Indianapolis office. Originally from southwest Indiana, Malone graduated from Indiana University - Bloomington in 1975. He is a member of the American Institute of Certified Public Accountants, the Indiana CPA Society and the Governmental Finance Officers Association and serves on the board of directors of the Indiana Association of Cities and Towns and the Indiana Association of Cities and Towns Foundation. Malone was awarded the 2006 CPA of the Year in Public Practice by the Indiana CPA Society.

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John D. Julien, CPA

Partner, Mishawaka IN

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Experience

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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John M. Seever, CPA

Partner, Indianapolis, IN

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Experience

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 and often serves as an expert witness on behalf of clients.

He is a member of the American Institute of Certified Public Accountants, the Indiana CPA Society and the American Water Works Association, among other professional groups. In addition, he currently serves on Indiana Association of Cities and Town’s board of directors and is an officer in the Indiana Section American Water Works Association.

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

Seever is a member of Umbaugh’s Executive Committee.

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Colette J. Irwin-Knott

Partner, Indianapolis

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Experience

Colette Irwin-Knott works with schools, cities, towns, counties and libraries in providing capital budgeting and financial advisory services for municipal bond financings. She has provided expert testimony at State hearings and participated in state and national conferences as a guest speaker and panelist for numerous municipal finance programs.

Irwin-Knott is a Certified Independent Public Finance Advisor (CIPFA) and serves on the board of the National Association of Independent Public Finance Advisors (NAIPFA). She serves on the board of directors for Valparaiso University, is a member of the Government Finance Officers Association and was named by the Indianapolis Business Journal as a “Woman in the Lead” for financial services.

Irwin-Knott joined Umbaugh in 1981 after graduating from Valparaiso University with a degree in business administration. She is based in Umbaugh’s Indianapolis office.

Colette is a member of Umbaugh’s Executive Committee.

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Doug L. Baldessari, CPA

Partner, Indianapolis, IN

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Experience

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

Partner, Indianapolis, IN

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Experience

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 Indiana Association of Cities and Towns 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 and on public-private partnerships for the Indiana Association of Cities and Towns Municipal Management Institute.

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. He is also a Certified Independent Public Finance Advisor (CIPFA). Colton is based in Umbaugh’s Indianapolis office and lives in Carmel.

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Daniel A. Hedden, CPA

Partner, Indianapolis, IN

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Experience

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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Scott A. Miller, CPA

Partner, Indianapolis, IN

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Experience

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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Curt W. Pletcher, CPA

Partner, Mishawaka, IN

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Experience

Curt W. Pletcher works with 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. Pletcher 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. He also serves as a member of the John Glenn School Corporation Board of Trustees.

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Robert J. Clifford, CPA

Principal, Indianapolis, IN

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Experience

Robert J. (Bob) Clifford works on utility financing matters, budgeting, feasibility studies and other financial studies for cities, towns and other local units of government, including preparing monthly and annual financial statements for municipally owned utilities.

Immediately prior to joining Umbaugh in 2008, Clifford served as the controller for the City of Indianapolis where he managed budgeting, financial reporting, purchasing and licensing. While controller, he served on the Marion County Criminal Justice Planning Council working with the courts, prosecutor, police, the public defender, clerk, sheriff and council members to eliminate the early release of inmates from the Marion County Jail.

Clifford also spent five years as the director of the Indianapolis Local Public Improvement Bond Bank where he was responsible for financing redevelopment, economic development and other capital projects. He has also served as vice president of finance at Indiana Municipal Power Agency and executive assistant for government efficiency to Indiana Governor Evan Bayh and worked with a national public accounting firm specializing in utility matters.

Based in the Umbaugh Indianapolis office, Clifford has been a guest speaker and panelist for numerous programs for the Indiana Association of Cities and Towns, Indiana University-Purdue University Indianapolis, The Greater Indianapolis Chamber of Commerce, American Public Power, American Water Works Association and the Midwest Bond Buyer Conference. He is a graduate of Indiana University where he also earned an MBA.

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Loren M. Matthes

Principal, Indianapolis,IN

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Experience

Loren M. Matthes assists city, town and county officials in planning and financing government buildings, infrastructure projects, downtown redevelopment projects, parking garages, aquatic centers and educational facilities. Matthes also works on 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 throughout the state, developing a statewide reputation for her expertise in this area. She is frequently contacted by local officials and administrators, county auditors, and State agencies to provide advice and guidance.

Prior to joining Umbaugh in 1990, Matthes worked for a national public financial advisory firm and was an economic development specialist for the City of South Bend.

Matthes has served as a guest speaker for the Indiana Association of Cities and Towns, the Indiana County Auditors’ Association, the Indiana Economic Development Association, the Indiana Municipal Lawyers Association and the Ball State University – Center for Economic and Community Development. She has served on the board of directors of the Indiana Economic Development Association (IEDA) and on the IEDA Legislative Committee.

Matthes is a Certified Independent Public Finance Advisor (CIPFA), graduated with honors from the University of Notre Dame and is based in Umbaugh’s Indianapolis office.

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Jeffrey A. Messer

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

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Experience

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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Jesse R. Nelson, CPA

Principal, Lansing, MI

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Experience

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 financial goals.

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

A 2003 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.

He and his wife, Mary, live in Holt, Michigan.

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Deen C. Rogers, CPA

Principal, Indianapolis, IN

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Experience

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.

In 2005, Rogers became a manager in the Accounting Services Group of Umbaugh and has been involved in the preparation of dozens of annexation fiscal plans as well as providing budgeting and fiscal planning assistance to many communities.

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 and the American Institute of Certified Public Accountants.

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Jeffrey P. Rowe, CPA

Principal, Mishawaka, IN

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Experience

Jeff Rowe provides accounting and financial advisory services for various governmental entities, including public utilities, associated with the issuance of tax-exempt securities for the financing of construction projects and the refinancing of outstanding debt. He has a considerable amount of experience 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.

Rowe has also worked 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.

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, and the American Water Works Association. Rowe is a 1997 graduate of Indiana University, South Bend, where he earned a Bachelor of Science Degree in Business.

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Paige E. Sansone, CPA

Principal, Indianapolis, IN

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Experience

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 IACT, the IMLCT Clerk’s Institute, and the County Commissioners Conference. She is also a featured instructor of the IACT-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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Jason G. Semler, CPA

Principal, Indianapolis, IN

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Experience

Jason G. Semler works on 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.

Semler 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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Tom Traciak

Principal, Lansing, MI

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Experience

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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