}

Saturday, May 20, 2017

BOND BUNGLE: Grand Traverse Academy's Management Company Head, Mark Noss, Disseminates “Fake News”

“We essentially go three months without any money driving into a new fiscal year,” said Mark Noss, who runs GTA’s management firm, Full Spectrum Management. “In order to bridge that cash flow problem, we have to pursue a short-term bond.”
May 17, 2017
Traverse City Record-Eagle

Not exactly.

While Michigan school aid payment dates do not coincide with the school's fiscal year (July 1-June 30), the assertion there's a three-month suspension of cash flow is deliberate misinformation.

As you can see from the official Michigan school payment schedule below, payments run from October-August.

The Michigan Finance Authority's state aid note loan program is structured to front-load a portion of a school's aid payment for a subsequent school year every August, providing an advance for the upcoming year along with the final payment for the current year.

The application deadline for the August 21, 2017 SAN closing date is June 28, 2017.





2 comments:

  1. Will the newspapers ever give the real facts? I think they are really doing a disservice to the children, community and teachers. If you look into the board members you will see a lot of them were there when Ingersoll was there and obviously, they would have to be stupid if they didn't know what was going on. I smell a rotten rotten board. Good lord people wake up and get a new management company and start weeding out the board memebers and administration that is pretending like they are innocent. What a mess.

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    Replies
    1. Unfortunately, any good people who could possibly be on the board would have so many headaches ahead of them that it would be best to remove Noss, his son-in-law, Lynch, and any others like them from the GTA and remove or shut down the whole school operation.

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