Two Fayette County Public Schools finance employees are on paid leave pending the results of investigations into the district’s budget problems, as inaccuracies in accounting practices dating back to at least 2008 have been found, Superintendent Demetrus Liggins announced Thursday.
Liggins, joined by Interim Chief Financial Officer Kyna Koch, announced that because of the issues dating back nearly 20 years, FCPS has a much lower fund balance than previously thought. Koch said she is recommending the district seek a short-term loan to cover expenditures until the district begins receiving property taxes in the fall.
Koch said revenue projections may also have been overstated. Inaccuracies have been found in record keeping, invoicing, and revenue collection going back to 2008 in some cases. Deadlines, contract requirements and spending guidelines have not been consistently met, Koch said…