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Fayette County Schools audit shows $14.43 million fund balance; reserve rate just below state guidance
Summary
Finance staff told the board the FY2025 audit returned an unmodified opinion with no findings and an ending general fund balance of $14,433,996; unrestricted reserves equal 12.4% of expenditures, slightly below the state’s recommended level.
Paula, the district finance staff member, told the Fayette County Board of Education on March 31 that the fiscal-year 2025 audit was complete with “no findings” and an unmodified opinion.
"We finally got our financial statements back. Our audit has been complete for fiscal year 2025," Paula said, then walked trustees through the income statement and balance sheet. She reported total revenues of $81,337,809 and total expenditures of $75,734,687, leaving an ending general fund balance of $14,433,996.
Paula explained how that balance is categorized. Restricted funds — largely carryover from an excess levy — amount to $5,039,518; the assigned portion is…
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