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Monday, September 12, 2011

$22,095,384 paid to Deutsche Bank NTC for...

Well, we really don't know.
All we know is that in Fiscal Year 2010 MCPS sent over $22 million to Deutsche Bank NTC. We only know that because the legislature passed a law that required MCPS to post their payments to vendors over $25,000. There is no mention of Deutsche Bank NTC in Board of Education minutes, no authorization from the Board to make payments to this bank.

A Maryland Public Information Act request asking the Superintendent for documents related to Deutsche Bank NTC produced the documents below. But theses documents don't show what was purchased. The cover letter mentions a variety of items that could have been purchased but gives no specifics.

Were these payments just for one really big shopping spree? Exhibit A (the list of equipment), Exhibit B (schedule of Equipment Group), and Exhibit C (Acceptance Certificate) to the Master Lease shown below weren't provided in the public information act request documents from MCPS. 

The cover letter below from MCPS says the agreement that created these payments ended in June 2010.

But in Fiscal Year 2011, MCPS sent another $16,697,427 to Deutsche Bank, NTC.  Again, there are no Board of Education minutes that explain this payment to this bank.

Deutsche Bank NTC

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