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Mon January 24, 2011
Snyder: Michigan's finances should be easier to understand
Governor Rick Snyder says he wants to make government finances easier for taxpayers to understand. Snyder says having the public understand the state’s budget troubles is a critical part of solving the problem. Rick Pluta reports:
Governor Snyder recently told local officials his administration is developing a model for explaining the state budget that could be adopted by cities, townships, and villages.
Snyder is a retired computer company CEO and investor with a degree in accounting. He says the idea came to him while he was examining the document that explains how state government spends its money.
"If you’ve tried to look at it, and I don’t know if you have… I’m an old CPA and there should be a warning label – not made for human consumption," Snyder said.
Snyder says he’d like state aid to local governments to be tied, in part, to how well they explain their finances to their citizens. Cuts to revenue sharing payments are expected to be part of addressing a budget deficit, but Snyder says he’d like to reward local governments that find ways to save money and innovate.