Stating that the 268-page comprehensive annual financial report (CAFR) issued by the State of Michigan is “not made for human consumption,” Michigan Governor Rick Snyder released a 21-page “citizens guide” to Michigan’s financial health during a presentation to nearly 400 people at the Business Leaders for Michigan Leadership Summit on Monday. Developed by the Anderson Economic Group (AEG), with input from the Citizens Research Council of Michigan, the Michigan Government Finance Officers Association and the Michigan Association of Certified Public Accountants, the guide graphically depicted many fiscal measurements such as the fall in the balance of the state’s “Rainy Day” or Budget Stabilization fund, now at around $2 Million – “about enough,” the Governor added, “to run the state for half an hour.”

The report was also met with a considerable quantity of controversy surrounding the claim that the average salary and benefit package for a state employee is more than double that of public sector employees. Although the Governor made sure to communicate that the specific measurement did not account for differences in educational level and other factors – and should be viewed in “macro” manner, others were quick to denounce the data. Numerous reports have been commissioned and released with large differences of opinion on the matter that is sure to find its way into the upcoming budget debate.

Prior to the Governor’s remarks, Snyder’s Budget Director John Nixon reported that the Administration will present a two-year budget on February 17th. The Legislature will only be asked to pass the 2012 fiscal year portion due to questions regarding constitutional issues; however, a fiscal year 2013 projection will be included.