 |
| Michigan Legislature legislating schemes to steal teacher pensions to invest in schemes to steal TARP to fund their campaigns. |
Oversight.gov, a product of the DOJ Inspector General Michael Horowitz, has released the U.S. Department of Education Inspector General Final Audit Report on Detroit Public Schools Community District, and, it is not pretty.
Since this report has yet to be reported by Detroit Public Schools Community District (DPSCD), I thought it only considerate to report on it for them.
In a nutshell, it seems Michigan was put on notice to clean up its act.
To begin, the report noted that there was too much stealin;.
There were issues with employees stealin'.
And more issues with employees stealin'.
And even more issues with private contractors and elected officials stealin'.
But wait, there is more.
FUN FACT! Did you know Michigan passed a law allowing fake corporations, meaning they never incorporated, to levy fake taxes, then capture 50% of Detroit property taxes for schools?
Yes, that is correct.
For fiscal year 2016 (July 1, 2015, through June 30, 2016), Michigan disbursed almost $101 million in Title I funds to Detroit Public Schools. In June 2016, the Michigan State legislature passed a law to restructure the district into two local educational agencies. Effective July 1, 2016, Detroit Public Schools exists only as a revenue-collecting entity that, using additional property tax collections and based on current interest rates, will pay off the district’s debt by 2049. The Michigan State legislature created DPSCD to operate schools using $617 million in new State funds.The only problem is, Detroit Land Bank Authority never incorporated and, from what I have seen, there is really no oversight, no audit, and no report on how much was collected and disbursed.
Some of the Detroit properties are assessed through its board as Detroit Land Bank Authority properties when they were never Detroit Land Bank Authority properties.
This is one of the reasons why SIGTARP came into the picture in the first place.
Michigan Special Eligible Tax Reverted Property Specific Tax Disbursment To Detroit Land Bank Authority 201... by Beverly Tran on Scribd
But wait, it gets better.
The City of Detroit is levying taxes for schools on properties the Detroit Land Bank Authority acquired, that had no taxes because the properties went through quiet title proceedings, wiping out the taxes, then refunding the taxes to...well...that has yet to be answered.
The City did not want to talk to me, besides, they never respond to my FOIAs.
But wait, it gets better.
According to the report, Michigan was skimming Title I funding for the pensions.
After we notified DPSCD that it used incorrect pension benefit contribution rates, DPSCD reviewed the rates it used from October 1, 2016, through June 2, 2017, for all employees enrolled in the seven plans included in our sample.
So, we have the levying of fake property taxes, based upon a fake piece of legislation, by a fake corporation, where we have no idea what they do with the collected taxes.
That is when the idea dawned upon me: "Did they invest in real estate and was any of that real estate from the Michigan State Housing Development Authority, the Michigan Land Bank Fast Track Authority or the Detroit Land Bank Authority, which has no association with the two aforementioned entities?
 |
| Michigan Public Schools Employee Pension Report 2017 |
"Did Michigan skim Title I Funds from Detroit Public Schools Pension to invest in social impact bonds to hustle TARP and steal Detroit properties?
They do it with the Michigan Children's Trust Fund, so why not Detroit Public Schools Pensions?
Only the U.S .DOE OIG or DOJ can answer this.
U.S. DOE OIG Detroit Public Schools Community District: Status of Corrective Actions on Previously Reported... by Beverly Tran on Scribd
Voting is beautiful, be beautiful ~ vote.©
No comments:
Post a Comment