LANSING – Officials in the administration of Gov. Rick Snyder hope to release a plain language balance sheet to the public before he unveils his budget proposals for the 2011-12 and 2012-13 fiscal years.
With officials now hoping to release the budget by February 17, release of the plain language balance sheet is seen for possibly the week before.
Snyder had initially called for the balance sheet to be completed before he took office.
Sara Wurfel, Snyder’s press secretary, said the balance sheet will help the public understand better the struggle the state is undergoing during the ongoing economic slowdown.
Snyder, trained as an accountant, has been critical of the financial report the state now issues, saying it is difficult even for a trained financial professional to follow.
He has also called for local governments to release plain language balance sheets of their specific financial situations.
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