Auburn Hills, Mich. – Dec. 20, 2016 – Munetrix, a public sector solutions provider offering data analytics and transparency tools for state and local governments, continues to reshape local government finance through expanded use of the Munetrix platform. The Munetrix® Transparency Compliance Report WizardTM helped its municipal customers simplify the process of applying for revenue sharing from Michigan’s Cities, Villages, Townships Revenue Sharing (CVTRS) and County Incentive Program (CIP), which will result in state payments of more than $30m over the next 12 months. The deadline to submit the information to the state in order to receive 100% of the state allotted revenue sharing for fiscal year 2017 was Dec. 1, 2016.
One Oakland County township, for example, receives $108,695 in revenue sharing. The reports required by the state could take weeks for those who do not use a transparency platform like Munetrix, while relying on a variety of time consuming, error-prone spreadsheets which end up as useless PDFs. Instead, this township completed the report in a couple of hours.
“Finance directors and chief administrators like the ease and cost savings associated with using Munetrix to complete their compliance reports,” Munetrix President Bob Kittle said. “The Munetrix transparency platform has multiple uses. These reports are just an example of how an integrated system works to soften the impact of non-funded state-mandated reporting, while freeing up time for governmental units to focus on the efficient delivery of valuable services to their residents.”
The transparency platform is just one reason why Munetrix earned a distinction from Government Technology Magazine earlier this year as one of 100 Top Companies making a difference in state and local government markets. Kittle says the key is to simplify the reporting process while enabling users to gather additional, useful information.
“Our municipal customers find that using the Munetrix financial transparency and budget planning tools also aid in simplifying the process to apply for statutory state revenue sharing under Michigan’s transparency requirements,” Kittle said. “The best part is that it is not futile work. Customers expend a fraction of the time compared to what they would have if they did this manually and receive additional dividends because the data is turned into information that helps them with business management and planning decisions going forward.”
In addition to its work with cities, townships, villages and counties, Munetrix is also an approved vendor to provide data analytics and transparency tools to Michigan public school districts, authorized by the Michigan Department of Technology, Management and Budget per Section 102d of Public Act 249 of 2016.
“Schools also have to comply with strict transparency laws,” Kittle said. “Munetrix allows them to focus more of their time educating students than pushing paper.”
Michigan-based Munetrix, offering the award-winning Munetrix cloud-based local government fiscal health analytics tool and other proprietary apps, offers communities a cost effective approach to data-driven decision making and performance management, and is among the nation’s largest aggregators of municipal and school district data. With both a corporate and social mission in the spirit of Open Data, Munetrix allows subscribers and academic and non-profit partners across the country to easily access public sector financial and demographic data and companion tools to make meaningful and reliable budgets, financial projections, trend reports and forward looking decisions. Learn more about your community’s Munetrix Score at the Munetrix website.