}

Friday, September 29, 2017

“OUTLOOK IMPROVES” AT GRAND TRAVERSE ACADEMY: But Where Is The New Loan? And The Investigation Into The Loss Of Millions?

“We’ve lost a lot of money because of Ingersoll. We get it.”

In an August 27, 2017 Traverse City Record-Eagle article reporting on what was described as a “financial pinch” at the Grand Traverse Academy, its Board president, Lesley Werth, publicly admitted the Traverse City charter school had “lost a lot of money because of Ingersoll.”

So where is the follow-up reporting, and what happened to the Academy's promised PNC Bank-underwritten municipal bond offering?

Anybody?

And after years of making misleading public statements (“There were times when the resources were just not there. So SmartSchools basically pledged or rebated that money back, saying ‘at some point in time we will repay what we’re calling a prepaid expense.’”) as the charter school’s financial condition was deteriorating due to the fraudulent conveyance of approximately $5.0 million from the charter school by its former manager, Steven Ingersoll, what does Werth's staggering admission mean to a future criminal fraud investigation?

Anybody?

7 comments:

  1. I have just started reading this blog. I was a parent who sent my children to Mr. Lynch’s school. I was not impressed at all by how Mr. Lynch ran the school. The teachers are completely overworked and while my children where there Mr. Lynch had 3 grade levels in the same classroom at the same time.

    Is this true how much he pays himself and that his schools are debt? If so, this is so wrong to do to children. How can someone put their own wealth and needs above the quality of a child’s education? It’s not fair to those poor kids or the teachers who work there.

    I am so happy we got out. I must admit that Mr. Lynch struck me as a very self centered person. There was just something not right with him during my brief time there.

    ReplyDelete
    Replies
    1. If you are referring to the Bay City Academy, which is in a $1.3 million deficit and run by Mitten Educational Management, it is true that Brian Lynch's superintendent salary & benefits package exceeded $93,000. In addition, his firm is paid in excess of $300,000 to manage the Bay City Academy.

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    2. Thank you for letting the public know about your insights at the BCA. Mr. Lynch was a teacher at the Grand Traverse Academy in Traverse City, and I'm sure his style of leadership, etc. at the BCA were/are not much different. Hope he gets everything he deserves coming to him! He seems to value his tremendous benefits package and salary above staff and students. Seems he's not any different from his father-in-law, Mark Noss, and Steven Ingersoll, the ring leader of fraud in charter schools (and anything else he seems to touch).

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  2. As an ex-parent from GTA- I've been following your blog for quite some time. I too am interested in hearing/reading a follow up story re: the status of the loan Ms. Werth reported on 8/27. Anyone interested in placing bets? I bet the loan doesn't happen!!!

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  3. This is unbelievable! How can Mr. Lynch pay himself this much money while the kids education is suffering at his schools?

    What the teachers are expected to do with having 3 grade levels in a class is not fare at all! I am sick to my stomach and as a current parent this makes me extremely angry.

    Is there something I can do? Who should I contact about this? Obviously talking to Mr. Lynch is pointless. I am so mad.

    ReplyDelete
    Replies
    1. If you're talking about the Bay City Academy, I can only suggest you speak to the Charter School office at Lake Superior State University.

      But don't expect them--or the Michigan Department of Education--to do anything.

      Believe me, I know.

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  4. If you have a city Washington and McGregor are Great Schools just simply pull your children out

    ReplyDelete