Media contacts: Barbara Fornasiero, EAFocus Communications, 248.260.8466, firstname.lastname@example.org; Bob Kittle, Munetrix, 248.797.1337, email@example.com
Auburn Hills, Mich. – Jan. 26, 2015 – Munetrix, capturing and monitoring municipal and school district financial data using a proprietary fiscal scoring measure to assist government entities with informed short and long-term financial planning and decision making, is celebrating its 5th anniversary in 2015.
Munetrix was established in 2010 by co-founders Richard “Buzz” Brown and Bob Kittle. Brown is a former executive at computer visionary, Inacomp, and helped shape the data base industry in its early days. Kittle, a city councilman for the city of Auburn Hills, Mich., former auto supplier executive and professional consultant with expertise in developing and executing business strategies for companies and non-profits, is also a state of Michigan vetted Local Government Financial Advisor.
Five years since its founding, Munetrix now has nearly 1,000 paid subscribers for its financial transparency data and is gaining attention from the investment community.
“There is a great deal of financial data available for municipalities and school districts, yet it’s extremely difficult to find and dissect,” Kittle said. “Munetrix provides and displays public sector financial information in a manner that is easily accessed and understood by both high-ranking officials and concerned citizens and that’s a key reason why company growth has been swift.”
Munetrix received one round of funding early on to build its business and is now planning its next round. The interest in Munetrix’s products is fueled in large part by growing knowledge that the majority of municipalities and school districts across the country are experiencing varying levels of financial strain.
“When municipal and school district leaders have access to the right data, they can create fact-based, long-term financial plans that guide meaningful discussions and aid in appropriate decision making,” Kittle said. “While much of the fiscal stress discussion is centered on underfunded pensions and other post-employment benefit promises, the data suggests that many other factors, such as aging infrastructure and lower birth rates, should be of equal or greater concern.”
Munetrix financial transparency data, which is available in a tiered cost structure approach with a no-cost entry point for individuals seeking basic information, allows local government administrative subscribers to develop multi-year budgets and test assumptions against early fiscal health warning metrics and key operational performance indicators. The company also provides user access to its proprietary tools, including BudgetBuilder™, ForecastBuilder™ and ProjecTracker™ and offers users the opportunity to collaborate with each other in a networked, social media type environment to share best practices and efficiencies.
“Using our comprehensive data base, communities can determine their fiscal health through a Munetrix Score. It’s an easy measurement tool to understand how financially healthy a community is based on its own numbers and our algorithms,” Kittle said. “We also have demographic data on more than 33,000 municipalities and school districts across the country and currently serve customers in four states, with dozens more in various stages of discussion or contract negotiations. As we look into the future, we anticipate the Munetrix Score to be a nationally recognized financial indicator for government entities, similar to the FICO credit score for consumers or an S&P rating for the institutional investment community.”
Michigan-based Munetrix is the creator of the Munetrix (municipal metrics) cloud-based local government transparency tool and is among the nation’s largest compilers of municipal and school district data, allowing subscribers to view public sector financial and demographic data in an easy to understand format and use that data to make meaningful and reliable budgets and financial projections. What is your community’s Munetrix Score? To learn more, visit the Munetrix website.