FCPS officials are working overtime to finish a complete redo of 2025's financial data, at the same time that the district is dealing with multiple reviews and audits alongside a tentative budget.
During a Monday planning meeting, Acting Executive Director of Finance Amy Smith said, in order to meet obligations, the district will need to draw on the contingency fund before the end of the fiscal year on June 30.
"We do realize that we are going to be using contingency this month to finalize our payment of bills and payroll, and so we are asking for formal approval of that process," she said.
Just how much money the district will be using from the fund isn't clear, and Smith said it likely won't be until late July.
"We will definitely have a better number by that point to share with the board," Smith reported.
The district is also taking out a short-term $95 million loan — one officials said is necessary to meet payroll in July.
While the estimated contingency fund for the year was $27 million, Smith said the district needs to get a handle on the restatement of last year's finances before it can calculate further.
As for the restatement process itself, Smith said the general fund portion is 95% complete, but more work needs to be done on special programs and grant reviews.
The district is in the midst of layoffs and cuts as it works to reset following a worse-than-expected budget outlook.