Shelby McQuay
I love connecting with each of the superintendents, business managers, and school boards I have the privilege of working with. They have a commitment to their schools and communities that I appreciate and admire.

Shelby McQuay

Municipal Advisor
Shelby McQuay

Shelby is a Municipal Advisor with our Minnesota education team.  Before joining the firm in 2016, Shelby worked with the Minnesota Senate as a non-partisan research analyst and a fiscal analyst, developing education finance and tax policy. Most recently, she helped craft language and review the financial implications of the School Building Agricultural Credit and the tax credit for Maximum Effort Capital Loan districts.

Shelby and her husband are raising three children who keep them exceptionally busy.

Areas of Expertise

Debt Planning and Issuance

  • Alternative Financing Options
  • Property Tax Impact Analysis
  • Preparation of Information for Publication and Presentation
  • Voter-Approved Building Bonds
  • Maximum Effort Capital Loans
  • Alternative Facilities Bonds
  • Capital Facilities Bonds
  • Qualified Zone Academy Bonds (QZABs)
  • Cash Flow Borrowing
  • Refundings
  • Lease Purchases

Operating Referendum Planning and Assistance
Capital Projects Levy Assistance
Truth in Taxation Hearing Presentations
TIF & Abatement Analysis
Assistance with Legislative Initiatives
Lease Levy Approval
Long-Term Financial Planning and Capital Improvement Planning


Bachelor of Science – Mathematics, Marquette University
Master of Arts – Public Policy, University of Chicago – Harris School of Public Policy
Doctorate – Geophysical Sciences, University of Chicago


Series 50 License

Professional Affiliations & Memberships

Minnesota Association of School Business Officials
Minnesota School Boards Association