Scorecard measures five indicators of fiscal health, shows promising turnaround in most areas. Pension costs need to be addressed.
DETROIT, Mich., May 17, 2012 – Business Leaders for Michigan (BLM), the state’s business roundtable, today released the annual Michigan Fiscal Scorecard, “Assessing the Management of Michigan Governments”. This review of state and local government finances measures five indicators of fiscal health – revenue and expenditures, cash balances, reserves, pension obligations and debt levels- and is part of BLM’s strategy to determine whether Michigan’s fiscal management practices are improving. The report was prepared for BLM by Anderson Economic Group, LLC.
“The Michigan Fiscal Scorecard gives us a clear picture of the progress the state and local governments are making in managing their finances, as well as identifying those areas that still need improvement, “ said Doug Rothwell, President & CEO, Business Leaders for Michigan. “As we continue to work to turn around Michigan and make it a Top Ten state for job, economic and personal income growth, this realistic review of the state’s fiscal health allows us to gauge how Michigan compares to other states, whether benchmarks are being met, and what steps need to be taken to ensure continued fiscal strength.”