FCPS finished the fiscal year on June 30 with a $5.5 million deficit. Earlier projections from district finance officials had put the shortfall at more than $17 million.
Officials said that better-than-expected tax collections helped improve the district’s bottom line.
FCPS has been dealing with financial turmoil for the past 18 months. In March, district leaders discovered that the school system’s books had been misstated for decades.
Now, in addition to closing out the 2026 fiscal year, the district is working to finalize its budget for the current fiscal year. That budget is expected to be approved this month.
The district has proposed a $933 million total working budget for the fiscal year that began July 1. That includes a $751 million general fund budget, the district’s main operating account, according to budget documents.
The remaining funds cover areas including food service, building projects, and other expenses.
On Thursday, Fayette County Board of Education members will review the proposed working budget before voting on the final version.
