Auburn Hills-based Munetrix LLC is offering a new financial management tool for local units of government designed to identify their fiscal health and help them plan for the future.
“With so many local units in the state of Michigan in risky financial positions, it has become necessary to force disciplines that will get them back in good fiscal standing,” said Bob Kittle, co-founder of Munetrix. “Understanding where you are at any point in time is essential to planning your way out of it.”
The proprietary tool was designed using expertise from both public and private sectors to support the sound management of local units by creating visibility and transparency of their state-measured financial situation. It gives municipal managers an easy way to do planning and forecasting, and helps them manage the numbers that the state uses to measure fiscal distress.
“No local unit wants to find itself with an emergency financial manager on its doorstep, and this tool will help avoid that possibility,” Kittle said.
Kittle and fellow Oakland County businessman Richard Brown developed Munetrix in early 2010 to address the need for municipalities to forecast, anticipate, and study financial trends as part of their daily business activities.
Kittle is a business advisor and efficiency management consultant and has been president of the Kittle Group since 2006. He has been involved in municipal finance for 8 years as an Auburn Hills city councilman and consultant, and he teamed up with Brown, who has a finance background and is the owner of Quantum Leap, a technology firm in Keego Harbor.
Munetrix was designed to help a municipality identify signs of fiscal distress and is based on the State of Michigan Treasury Department’s scoring system for municipal solvency under Public Act 72. The goal of the application is to “Help Municipalities Help Themselves.”
For more information, visit www.munetrix.com.
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