For far too long the true state of Michigan’s financial picture has been hidden by complex budget documents indecipherable to the average resident. One-time budget gimmicks and other accounting tricks have further masked the state’s dire financial situation, allowing tough decisions to be pushed off into the future.
Gov. Snyder is working to change that by providing a citizen’s guide to Michigan’s financial health. This guide is a plain-English, easy-to-understand look at Michigan’s financial situation and the challenges ahead.
Governor Snyder encourages local units of government to follow the state’s lead and make financial information more transparent and accessible to residents by using the same tools used to create the Citizen’s Guide to Michigan’s Financial Health.
These tools are fully customizable so each municipality may include special revenue funds specific to a local government and then generate easily understandable charts and graphs to create a report. These tools also allow municipalities to see how spending and revenue stacks up against other local units of government and the state.
The City of Memphis, in cooperation with the State of Michigan is publishing these simple to understand graphs and charts to help the citizens of this city to better understand the financial roadblocks and successes. If any citizen has questions, they are welcome to call the City Offices and request a call from the Mayor or a City Councilperson who can better explain the documents.
The following four documents are the current “State of the City” in four categories: Financial Position, Income, Expenses, and Long Term Liabilities/Obligations. The documents show our change over the past several years to let the citizens know how their tax dollars have been managed.