LEXINGTON, Ky. (WKYT) – An independent firm tasked with conducting an audit of Fayette County Public Schools has released its findings.
The board held its August planning meeting virtually Monday evening. The meeting began at 5:30 p.m. at the John D. Price Building, where members of the public may attend in person to listen and participate in public comment.
Short-term loan, audit presentation on agenda
At the end of the school year, the board approved a short-term loan to cover expenses until tax revenue is collected in the fall. The district originally sought a loan of up to $110 million but reduced the amount to up to $95 million, citing increased cash flow.
Agenda items from the meeting state the financial assessment presented at the July action meeting remains valid and relatively unchanged. The unaudited annual financial report has been submitted to the Kentucky Department of Education…