}

Friday, February 23, 2018

BAY CITY ACADEMY ENHANCED DEFICIT ELIMINATION WATCH: Mitten Educational Management's Brian Lynch Sweats Ongoing Michigan Treasury Approval Process; Asinine, Misleading Claim About Lynch's Double-Dipping Spins Heads

NEWS FLASH: EVERYONE WHO WORKS AT THE BAY CITY ACADEMY WORKS FOR MITTEN EDUCATIONAL MANAGEMENT! Late last year, November 2, 2017, to be exact, the Bay City Academy submitted an “Enhanced Deficit Elimination Plan” to the Michigan Treasury department.

On November 27, 2017, a spokesperson for the Michigan Treasury provided a status update regarding the Bay City Academy's deficit plan: 

“The Enhanced Deficit Elimination Plan (EDEP) posted on Bay City Academy’s website is a filled out template that the Michigan Department of Treasury sent to Bay City Academy. 

Because the academy has yet to complete the preliminary review process, the posted EDEP has not been formally approved by the state Treasury Department. The preliminary review process is anticipated to be completed in early 2018. At this time, it has not formally begun.” 

While Mitten Educational Management's partners, Brian Lynch and Michael Randel, twist in the wind waiting to hear from about the future of their cash cow, the duo has employed this Orwellian claim to distract from Lynch's double-dipping: “Mr. Lynch does not receive a salary from Bay City Academy. He is directly paid by Mitten Educational Management LLC.” 

Here's what they don't tell you: everyone who works at the Bay City Academy, including its North Central Academy Mancelona campus, is leased to the charter school by their employer, Mitten Educational Management, LLC. 

They are all paid by Mitten, although the tricky little “does not receive a salary from Bay City Academy” was not utilized in Lynch's 2016 compensation report. 

Hmmm? Wonder why?
As you can see from this excerpt below, taken from the Bay City Academy's official 2017 Financial Statement, Mitten was paid $278,371 during the fiscal year that ended June 30, 2017, and “provides a variety of services, including financial management, leased employees”—including its Superintendent, Brian Lynch.

Stay tuned for more information about Bay City Academy's deficit, only from Glistening, Quivering Underbelly

8 comments:

  1. Thank you, Miss Fortune, for all your diligent work in exposing the true picture of the Bay City Academy and its leadership (if we could call it that). Nothing but money for the crooks under the guise of helping students.

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  2. You wonder how much rent the BCA is paying the Wildfire Credit Union to rent the old Farragutt School building. It's probably cheaper than what Ingersoll charged them.

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  3. The lease expense for year ended June 30, 2017 was $96,000; the Bay City Academy is paying that amount to Wildfire Credit Union in lieu of rent for the Farragut Schoolhouse building Steven Ingersoll still legally owns--sort of.

    Ingersoll defaulted on the $700,000 mortgage held by Wildfire on June 8, 2016. The credit union made a deal with Mitten Educational Management to pay rent directly to them.

    It appears from financial records cited by the Bay City Academy in recent annual statements indicate Ingersoll was charging roughly $340,000 in 2015-16 for the Farragut and Madison Arts buildings, the last year Ingersoll managed the school.

    You can do the math.

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    Replies
    1. Thank you, Miss Fortune. That is so wild, no pun intended, that Ingersoll still sort of owns the old Farragutt School building. Then, Wildfire Credit Union must still be paying the insurance and taxes on that structure, even if Ingersoll sort of owns it. Who knows what will happen if /when the BCA goes totally under and there's no one to lease that building.
      We applaud your research, Miss Fortune.

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  4. I'm really surprised BCA and NCA are still open. There can't be many students left in either school. So Brian Lynch is collecting a check as the management company and another for posing as the superintendent?

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    Replies
    1. Lynch's management company is paid roughly $300,000 annually, and Lynch also collect a pay package of $82,050 on top of the management fee.

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    2. Thank you for exposing the greed of Lynch and his partner, Randel. Sad example of a school. Nothing but a way to make money at taxpayers' expense.

      Delete
  5. When will this nonsense end, mitten management is scamming the government and the children at those schools. Collecting a fat paycheck and basically doing nothing and the board members are part of this. Where is the accountability. How much is Ingersoll still getting because you know he isn't going to let his cash cow go. Boy people are stupid and some willingly look the other way. Another thing is Wild Fire in on this too?

    ReplyDelete