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FCPS eyes contingency fund as financial complications mount

Josh James/WUKY

Fayette County Public Schools is poised to take yet another step to keep its finances afloat.

With past misstatements about its financial outlook, some dating back nearly 20 years, FCPS leaders have already taken a series of actions — from layoffs to reductions in work hours to approving a $95 million loan.

Now, according to Monday's agenda, the school board will be asked to use part of its contingency funds to "successfully manage differences in cash availability and protect our primary educational and instructional services."

The status of the contingency fund has been a lingering question ever since a community budget committee chose to use a portion to fill a $16 million budget gap last year, and was later informed the fund was much lower than expected.

The most recent tentative budget sets the contingency fund at 2%, the minimum allowable under state law.