Fayette County Public Schools shares budget update, says district operating under balanced budget

LEXINGTON, Ky. (ABC36 NEWS NOW) — The Fayette County Public Schools has released an update on its budget and finances for the current fiscal year.

In a release Tuesday night, the district said it is currently operating under a balanced working budget for the school year.

According to the district, there is no budget shortfall, no missing money, and no tax rate increases tied to the current budget.

District officials say more than $12 million has been cut from district office operations, while individual school campuses were not affected.

FCPS also reports maintaining a contingency fund of $27 million, which is above the state-mandated requirement.

Meanwhile, the district says it is examining every aspect of its operations — including staffing and building usage — as planning continues for the next fiscal year.

More information about the district’s budget is available on the Fayette County Public Schools website. View the Community Transparency and Accountability page by visiting https://www.fcps.net and selecting the “About” tab.