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Fayette County Schools Face Financial Crisis | Lexington News
Fayette County Public Schools is in a financial crisis, facing a massive budget deficit and outdated accounting practices dating back to 2008. With a contingency fund slashed to just 1% of spending—far below state and district requirements—the district took drastic measures: cutting $20 million, eliminating 120 jobs, and taking a $95 million loan. Despite the turmoil, state officials say a takeover isn’t imminent, as FCPS follows all recommendations to fix its finances—with weekly check-ins and strict limits on “luxury spending.” The district’s interim CFO calls the state’s support…
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