Fayette County school board reviews draft budget for next fiscal year

LEXINGTON, Ky. (ABC36 NEWS NOW) — The Fayette County Public Schools board is beginning its work on next year’s budget.

District officials reviewed a draft budget during a planning session Monday. According to the district, a draft budget is reviewed each January before a tentative budget is adopted in May and a working budget is approved in September.

The district projects SEEK funding for the next fiscal year to fall between $100 million and $103 million.

Officials also project revenue growth of approximately $8 million to $10 million, representing about a 3.5 percent increase compared to the current fiscal year.

Meanwhile, the newly formed Board Finance and Accountability Committee is scheduled to meet Tuesday at 5:30 p.m. at the John D. Price Administration Building on Park Place.