schools_clean_audit_cash_burn· general · fy2024
Fayette County Public Schools FY2024: cash balance dropped $90,000,000 (15% of general-fund revenue) while audit was 'unqualified (clean)' Fayette County Public Schools's end-of-year cash balance fell from $235,000,000 to $145,000,000 in FY2024 — a drop of $90,000,000, or 15% of that year's general-fund revenue. The audit firm issued an unqualified ('clean') opinion in the same year. Clean audits and severe liquidity stress can coexist: the audit attests to fair presentation under GAAP, not to operating sustainability. When the two diverge by this much, the next fiscal cycle commonly surfaces the strain. Source: KDE district financial reports. Tier 2: aggregate fiscal observation, no individual characterization.
schools_kora_compliance_streak· general · fy2026
Fayette County Public Schools: 5 open-records violations in last 24 months (total 7 since 2019) Kentucky Attorney General decisions have found Fayette County Public Schools in violation of the Open Records Act or Open Meetings Act 5 times in the trailing 24 months — a structural pattern, not a one-off. Decision IDs in this window: 26-OMD-009, 25-ORD-003, 25-ORD-037, OAG 25-07, 24-ORD-163, 23-ORD-093. Citizens and journalists who file requests with this district experience the compliance pattern as denials, delays, and the need to appeal to the AG. The dashboard tracks this rolling-window count so a re-occurrence of the pattern is surfaced automatically. Source: ag.ky.gov OROM index. Tier 2: aggregate institutional observation, no individual characterization.
opeb_discount_rate_sensitivity· general · fy2024
OPEB net position would swing up to $17,386,782 under a 1% discount-rate move (FY2024) LFUCG's net retiree-health-benefit (OPEB) position is currently a $2,713,959 surplus at the FY2024 discount rate (5.99% non-hazardous, 6.02% hazardous). A 1-percentage-point decrease in the rate would shift the position by $14,765,912; a 1-point increase would shift it by $17,386,782 in the opposite direction. Source: ACFR pp.113–114 (GASB-75 OPEB sensitivity tables). Tier 2: aggregate actuarial observation.
pension_contribution_volatility· general · fy2025
CERS contribution rate decreased 3.12 percentage points FY2024→FY2025 (23.57% → 20.45% of payroll) LFUCG's payment to the County Employees' Retirement System (CERS) for FY2025 was 20.45% of covered payroll ($28,197,560 on $137,894,274), compared to 23.57% the prior year — a 3.12-percentage-point decrease. Pension contribution rates are set by the Kentucky General Assembly via KRS §78.635 and applied to whatever payroll the city actually runs; sharp year-over-year shifts in the *effective* rate typically reflect either a Frankfort phase-in completing, a one-time refund of an overpayment, or a rapid change in headcount/wages that dilutes or concentrates the fixed actuarial obligation. Source: ACFR RSI Schedule of Government Contributions. Tier 2: aggregate fiscal observation, no individual characterization.
pension_contribution_volatility· general · fy2023
CERS contribution rate increased 2.38 percentage points FY2022→FY2023 (21.84% → 24.22% of payroll) LFUCG's payment to the County Employees' Retirement System (CERS) for FY2023 was 24.22% of covered payroll ($28,138,782 on $116,194,096), compared to 21.84% the prior year — a 2.38-percentage-point increase. Pension contribution rates are set by the Kentucky General Assembly via KRS §78.635 and applied to whatever payroll the city actually runs; sharp year-over-year shifts in the *effective* rate typically reflect either a Frankfort phase-in completing, a one-time refund of an overpayment, or a rapid change in headcount/wages that dilutes or concentrates the fixed actuarial obligation. Source: ACFR RSI Schedule of Government Contributions. Tier 2: aggregate fiscal observation, no individual characterization.