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Fayette County board grapples with $0 projected start balance, considers short-term borrowing and staff cuts amid public outcry
Summary
Board leaders presented a tentative FY27 budget the administration called "balanced" but said it assumes property-sale proceeds and includes a proposed TRAN (tax-revenue anticipation note) of up to $110 million to cover early-year cash shortfalls; plan changes and proposed cuts, including elimination of a two-person sustainability team, drew strong public opposition.
The Fayette County Board of Education on May 11 was presented with a tentative FY2027 budget administrators described as "balanced" but built on conservative assumptions and several uncertain revenue lines, including roughly $3 million in projected property-sale proceeds and an "up to" $110 million tax revenue anticipation note (TRAN) to cover early-year cash shortfalls.
Interim Chief Financial Officer Kina Coe told the board the district currently projects a zero beginning balance for FY27 and said staff sent notices to potential bidders for a TRAN. "We can request an extension from the Kentucky Department of Education," Coe said earlier in the meeting when discussing an unrelated audit-item timeline. On the TRAN she told board members the instrument is intended as a one-year stopgap: "It is just to shore up until we get guaranteed revenue," Coe said.
Why it matters: administration and budget staff warned that…
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