Fayette County schools face scrutiny over proposed budget, contingency fund

LEXINGTON, Ky. (ABC36 NEWS NOW) – Fayette County Public Schools held its planning meeting Monday night, focusing on the district’s budget as questions continue over its contingency fund.

The district has faced public scrutiny after reports of a $16 million shortfall in its $42 million contingency fund. Current policy requires the contingency fund to remain no less than 6 percent of the overall budget.

For the new year, the district is proposing a $690.7 million general fund, which includes a $27 million contingency fund. But some community members say the actual contingency is far less and are calling for a deeper review of the numbers.

During public comments, one speaker questioned the district’s explanation of how the contingency fund is calculated, while another called for a forensic audit by a third party, saying residents no longer trust an internal review.

The board is expected to vote on the updated budget later this month.