The Detroit Free Press reports that Brian Whiston, the Michigan Department of Education's Superintendent of Public Instruction, has called in representatives of the Bay City Academy to explain the withering charter school's massive deficit.
According to the Free Press, Whiston “is particularly concerned about four districts and charters”: Garden City Public Schools, South Lake Schools in St. Clair Shores, Beecher Community Schools — and the Bay City Academy.
The Michigan Department of Education's December 2015 Quarterly District Deficit Report confirms that while the Bay City Academy reported a General Fund Balance of $19,743 for the fiscal year ending June 30, 2013 and a balance of $31,187 for the fiscal year ending June 30, 2014, the charter school ended its most recent fiscal year (ending June 30, 2015) with a $1,359,477 deficit.
As a percentage of revenues for the most recent fiscal year ($3,724.629), the Bay City Academy deficit was 36.50%.
Oooh, my head is spinning like a dreidel right now!
Under Michigan state law, the Board of Directors has ultimate oversight responsibility for the school district's operations.
For complete background on the the Bay City Academy's demise-inducing deficit (which broke on this blog back in October), read Miss Fortune's extensive coverage here, here, here...and here!
Read the entire Detroit Free Press story at this link