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FCPS leaders to request short-term loan to shore up finances

Josh James/WUKY

Fayette County Public School leaders are raising concerns about the district's finances. Superintendent Demetrus Liggins said he was informed this week of some inaccuracies and incorrect accounting practices that stretch all the way back to 2008.

"As I stand here today, I am pledging to you that I will also make the necessary changes to our financial house to get it in order so that 20 years from now, no one will be standing at this podium. having the same conversation," Liggins told reporters Thursday.

Interim Chief Financial Officer Kyna Koch said her team has found revenue projections may have been overstated and the district's fund balance may be less than originally believed.

"We're in the process of correcting these issues in order to get a true picture of the district's financial status. So I do not have numbers today, but I feel confident that the district's fund balance is much lower than previously thought and that revenue projections may be overstated."

Koch said she is recommending the district seek a short-term loan to cover expenditures and that request will be brought to the board in May.