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Friday, January 16, 2015

THE GRAND TRAVERSE ACADEMY DEFICIT ELIMINATION PLAN: Hey, Is It Too Late To Form A Teacher's Union Before The Claw-Back Comes?

The Grand Traverse Academy Board has approved a two-year deficit elimination plan for the public school academy rocked by the federal fraud indictment of its “faux-lanthropist” founder, Steven J. Ingersoll.

The Academy started fiscal year 2013-2014 with a positive general fund balance ($782,714) before ending the year with a negative fund balance (-$365,129).

And whose backs will bear the weight of those cuts?

If you guessed “for-profit management company”, the evidence indicates you'd be wrong.

And the two-year plan, shown below, does not take into account any federal “claw-back” of the $704,000 Steven Ingersoll is alleged to have repaid the Grand Traverse Academy's coffers from a Chemical Bank construction line of credit loan. 

Just think what might have happened if the Traverse City Record-Eagle had stopped its ceaseless anti-TCAPS “tyrades” just long enough to focus on this monster story.

Doesn't matter...I've already done the job for them!

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