Ky. (WKYT) – Fayette County Public Schools this week released the full audit of its budget and expenditures, a review the district commissioned from an outside accounting firm following months of questions about its <a href="https://bitcomme.com/mayfair-gold-reports-q2-2026-operating-and-financial-results/” title=”MAYFAIR GOLD REPORTS Q2 2026 OPERATING AND FINANCIAL RESULTS”>financial situation
The accounting firm Weaver LLP consolidated 70 recommended actions into 10 priority actions. Among those priorities:
- Redesigning roles in the financial system so one person alone is not in charge of initiating, approving, and posting transactions
- Establishing standardized accounting procedures
- Proactively monitoring the budget to identify issues before they become a problem
- Creating a framework to manage grants
- Establishing a process of confirming, verifying, and obtaining board pre-approval for all travel purchases
Now that the board has the final report, district leaders plan to review it in its entirety, consult with district staff, and move forward with a corrective action plan. No timeline has been set for the release of that plan.
A separate investigation into the district’s finances is also underway. Auditor Allison Ball’s office shared some findings with the district last spring. Her office has not provided a timeline for when a final report is expected.
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