BACKGROUND:
The Finance Department has been using Munetrix’s analytical tool to assist the Township with better options with transparency reporting. To assist with this, the State is reimbursing local governments under Public Act 107 of 2017 section 936, of the General Government Appropriation Act, to allow funds to be appropriated for financial data analytic tools. Munetrix is one of the approved vendors by the MDTMB. Munetrix is widely used throughout Michigan, and specifically used by SEMCOG.
Munetrix is a comprehensive suite of financial reporting, management, and forecasting tools designed specifically to meet the needs of local units of government and schools.
Recognizing the need for these institutions to anticipate, study, predict, and report on fiscal results, this web-based management tool helps public institutions better understand and communicate their financials with stakeholders, and plan using predictive analysis.
A socially networked platform, licensed Munetrix users benefit from the system’s architecture which allows network building to facilitate real-time information and best practice sharing. They are able to communicate with financial managers from other communities, compare departmental or overall performance against others, and post success stories.
This financial data analytic tool will be linked to our website for citizens to review. The total cost for this program is $6,602 and the Township will receive approximately $3,301 from the State for reimbursement.