Fayette schools created a new budget committee in January. It’s only met 3 times.
In an effort to up accountability and improve community relations, Fayette County Public Schools created a finance and accountability committee in January.
That committee, made up of multiple members of the community and some school staff, was designed to “strengthen financial transparency, accountability and long-term financial planning,” said interim Chief Financial Officer Kyna Koch on Thursday.
But Thursday marked only the third time since January that the board had met, according to school officials and committee minutes.
“Due to changes in leadership, the board has only met twice since (January 2026),” Koch said.
School officials announced earlier this year one member of the finance team was on medical leave and two others have been placed on administrative leave pending an ongoing investigation.
The finance and accountability committee hosted a community question and answer session Thursday about the district’s finances.
The committee met May 13 shortly after Fayette County Public Schools unveiled a proposed tentative $711 million general fund budget on May 11. That budget contained more than 120 cuts to positions and multiple changes in the number of days other staff worked. Those cuts, as well as other cuts to the budget, were necessary after the school district announced earlier this year the school’s finances have been misstated for decades.
The district is currently seeking an up to $110 million short-term loan to help it cover its finances and payroll after the fiscal year begins July 1.
Koch also said it was likely the district will have to take out a similar one-time loan to help it with cash flow come the summer of 2027.
Although the finance and accountability committee was created to improve financial stewardship, Koch admitted the committee and how it works has not been made clear. Its agendas are posted online on the district’s website. It is supposed to meet the second Wednesday of every month.
“I do want to apologize that our meeting this month was not handled as smoothly as it could have been and some of the documents were not on the web in a timely manner,” Koch said. “That’s on me. Please be assured all documents will be posted (in the future) in a timely manner.”
The committee, however, can’t necessarily make any changes to the tentative budget or the working budget, which will be approved in September. It can make recommendations on changes to the superintendent and the school board, according to its purpose and mission on its website.
According to summaries of meetings in January and February, the committee was not shown any tentative budget documents prior to the May 13 meeting.
The committee members include:
- Christian Adair, director of The Lyric
- Jill Angelucci, principal in FCPS
- Wallace Barber, insurance agent with State Farm
- Mike Foley, a retired partner with the accounting firm RFH CPA’s and a board member of Central Bank & Trust
- Gina Greathouse, executive vice president of Economic Development with Commerce Lexington
- Kiyon Jenkins, manager of the John D. Price Administration Building and other facilities in FCPS
- Jenna Jennings (BFAC chair), executive director of Kentucky PTA
- Sophie Schwab, teacher in FCPS
- Hunter Stout, chief financial officer at Keeneland
