AUBURN HILLS, Mich., Oct. 27, 2015 /PRNewswire/ -- Michigan-based Munetrix, a data aggregator offering a comprehensive suite of reporting, management and forecasting tools designed to meet the financial management and transparency needs of states, municipalities and schools, announced today it has been named one of only two approved vendors prequalified to provide data analytics tools for reimbursement to Michigan public school districts. The approved vendors were identified through a RFP process led by the Michigan Department of Technology, Management and Budget. The announcement was made by Munetrix President Bob Kittle.
"Munetrix was the top scorer in the RFP process and has a deep and comprehensive database of information that Michigan school districts can tap into for short and long-term planning, budgeting and transparency purposes. We are eager to begin working with more school districts across the state that want the user-friendly power Munetrix offers, tailored to their professional needs," Kittle said, noting that one of the several categories where Munetrix received a high grade was the system's intuitiveness for ease of use.
The RFP process began following the June 17 announcement that Gov. Rick Snyder approved a line-item of $1.5m in the 2016 budget for Michigan school districts to submit their software licensing fees for a data analytic tool to the state for reimbursement. (Section 102d of Public Act 85 of 2015.) The budget became effective Oct. 1. The goal is to provide school districts with better control of their own destiny, and complements the Early Warning legislation Gov. Snyder signed into law on July 7, 2015.
The Michigan Departments of Treasury and Education were closely involved during the review process and Education will ultimately approve the reimbursements to individual districts.
The RFP was awarded based on the vendors' capability to analyze financial and academic data, provide early warning indicators of financial stress, provide peer district comparisons of both financial and academic data and allow districts to model financial projections for at least three subsequent fiscal years. Munetrix scored highest overall.
"The new reimbursement option reflects the administration's interest in the fiscal well-being of public schools and charter schools, backing up its verbal support with funding for schools to invest in an analytical tool providing business intelligence and budget modeling software to help create a clear and unobstructed view of their district's fiscal health," Kittle said. "This data is also accessible to the public, so citizens can stay informed about school district finances. In fact, hundreds of local schools already use Munetrix to exceed the state's legislated transparency requirements."
Munetrix is the creator of the Munetrix (municipal metrics) cloud-based local government transparency tool and is among the nation's largest aggregators 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. Munetrix is the only vendor source in Michigan endorsed by the state's three major K-12 school associations, MASA, MASB and MSBO. Learn your community's Munetrix Score at the Munetrix website.