Terri Y. Heaton

Terri Y. Heaton



+1 (651) 223 3022

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Terri Heaton, a principal with Baker Tilly Municipal Advisors, LLC, has more than 30 years of experience in local government finance, housing and economic development.

Terri’s primary focus is municipalities, housing and economic development agencies. She leads the municipal community of housing practice group for Baker Tilly which spans across the country and includes team members from many industries. Terri assists clients in attaining their financial goals through effective public finance, economic and housing development, operational and structural alignment, investment strategies and developing strong human resource teams. Terri has assisted in the issuance of more than 750 bond issues to finance general obligation backed, appropriation and revenue supported projects such as, streets and roads, utilities, hospitals, stadiums, multi-family and senior housing and shopping complexes. She has assisted issuers in developing unique and complex financings using tax increment, abatement, conduit debt, tax credits and other funding structures to build a capital stack for public and private development.

Registered Municipal Advisor with the Securities and Exchange Commission.

  • Municipal advisor since 2002
  • Senior vice president at Springsted Incorporated
  • Principal at Baker Tilly since 2019
  • Assists clients in attaining financial goals through effective public financial management and economic development
  • Manages operational and structural challenges
  • Develops strong organizational management and human resource teams
  • Developed and leads the housing community of practice
  • Served as chief financial officer for the City of Bloomington and its HRA and Port Authority for 14 years
  • Served as senior auditor at the Minnesota Office of the State Auditor
  • National Association of Independent Public Finance Advisors (NAIPFA), board member (2010-2012), vice president (2013-2014) president (2015-2016)
  • Minnesota Institute of Public Finance (MIPF), member of the board
  • Government Finance Officers Association (GFOA), national and state associations
  • League of Minnesota Cities (LMC)
  • National Association of Housing and Redevelopment Organizations (NAHRO)
  • Association of Minnesota Counties (AMC)
  • International City/County Management Association (ICMA)
  • Minnesota City/County Management Association (MCMA)
  • Economic Development Association of Minnesota (EDAM)
  • Public Employees Retirement Association, past president
  • Frequent guest speaker on public finance
  • Certified Public Accountant (inactive license)
  • Certified Independent Professional Municipal Advisor (CIPMA)
  • Series 50 and 52 Registered Municipal Advisor


Master of Business Administration
University of St. Thomas (Saint Paul, Minnesota)

Bachelor of Science, accounting
Saint Cloud State University (Saint Cloud, Minnesota)