Lexington, Kentucky, December 9, 2025
The Fayette County Board of Education has approved a comprehensive external audit to assess the district’s financial operations and internal controls, led by Weaver and Tidwell. This initiative follows public concerns over a proposed tax increase and seeks to ensure transparency and enhance financial systems within the district. The audit will supplement an ongoing examination by Kentucky State Auditor Allison Ball and aims to bolster public trust and fiscal stewardship.
Lexington, Kentucky
The Fayette County Board of Education has approved a comprehensive external audit to assess the district’s financial operations and internal controls.
On December 8, 2025, the board voted to hire Weaver and Tidwell, a nationally recognized accounting firm, to conduct an in-depth operational and financial review. This decision follows the recommendation of the district’s independent Audit Committee, which developed the scope of work, solicited bids, and evaluated proposals without involvement from district staff or board members to maintain the review’s independence.
The audit aims to provide a thorough assessment of the district’s internal budget, financial controls, processes, and departmental operations, extending beyond a standard compliance audit. It is designed to inform improvements aligned with the district’s strategic plan, “New Way Forward.” The contract also includes the possibility of a forensic audit if areas of concern are identified during the review.
This initiative supplements the ongoing special examination by Kentucky State Auditor Allison Ball, which began in June 2025 to evaluate the district’s fund usage. The Fayette County Board of Education emphasizes that the external audit is intended to augment, not replace or duplicate, the state audit, and the district remains committed to collaborating with the state auditor’s office.
Board Chair Tyler Murphy stated that the external audit is a necessary step to strengthen public trust and underscores the board’s commitment to fiscal stewardship and continuous improvement. The review is expected to identify specific, actionable improvements to enhance financial systems, uncover potential wrongdoing, and protect investments that contribute to the success of students and staff.
In September 2025, the board authorized the external audit following public concerns over a proposed tax increase to address a $16 million shortfall. The goal of the audit is to ensure transparency and efficient use of taxpayer dollars. This is the second external audit commissioned by the district in 2025, reflecting a proactive approach to financial oversight and accountability.
Fayette County Public Schools has a history of financial transparency, having received a perfect external audit for five consecutive years up to November 2024. This achievement highlights the district’s dedication to responsible financial management and adherence to accounting standards.
The comprehensive external audit is expected to provide valuable insights into the district’s financial operations, contributing to enhanced transparency and accountability within Fayette County Public Schools.
Frequently Asked Questions (FAQ)
What is the purpose of the comprehensive external audit approved by the Fayette County Board of Education?
The audit aims to provide a thorough assessment of the district’s internal budget, financial controls, processes, and departmental operations, extending beyond a standard compliance audit. It is designed to inform improvements aligned with the district’s strategic plan, “New Way Forward.” The contract also includes the possibility of a forensic audit if areas of concern are identified during the review.
Who is conducting the external audit for Fayette County Public Schools?
The Fayette County Board of Education has hired Weaver and Tidwell, a nationally recognized accounting firm, to conduct the comprehensive external operational and financial review.
How does the external audit relate to the state audit initiated by Kentucky State Auditor Allison Ball?
The external audit is intended to supplement the ongoing special examination by Kentucky State Auditor Allison Ball, which began in June 2025 to evaluate the district’s fund usage. The Fayette County Board of Education emphasizes that the external audit is intended to augment, not replace or duplicate, the state audit, and the district remains committed to collaborating with the state auditor’s office.
What prompted the Fayette County Board of Education to commission the external audit?
The external audit was commissioned following public concerns over a proposed tax increase to address a $16 million shortfall. The goal of the audit is to ensure transparency and efficient use of taxpayer dollars. This is the second external audit commissioned by the district in 2025, reflecting a proactive approach to financial oversight and accountability.
What is the history of financial audits for Fayette County Public Schools?
Fayette County Public Schools has a history of financial transparency, having received a perfect external audit for five consecutive years up to November 2024. This achievement highlights the district’s dedication to responsible financial management and adherence to accounting standards.
Key Features of the Comprehensive External Audit
| Feature | Description |
|---|---|
| Scope of Review | Assessment of internal budget, financial controls, processes, and departmental operations, extending beyond a standard compliance audit. |
| Audit Firm | Weaver and Tidwell, a nationally recognized accounting firm. |
| Relation to State Audit | Intended to supplement the ongoing special examination by Kentucky State Auditor Allison Ball, not to replace or duplicate it. |
| Purpose | To inform improvements aligned with the district’s strategic plan, “New Way Forward,” and to identify specific, actionable improvements to enhance financial systems. |
| Possibility of Forensic Audit | Included if areas of concern are identified during the review. |
| Historical Audit Record | Fayette County Public Schools received a perfect external audit for five consecutive years up to November 2024. |
Deeper Dive: News & Info About This Topic
HERE Resources
Kentucky State Auditor Examines London’s Finances Amid Political Strife
Lexington, Kentucky, Faces Allegations of Overcharging for Trash Collection
Fayette County School Board Delays Stables Program Decision
Fayette County Board of Education Pursues Eminent Domain for New School
Fayette County Public Schools Achieve Record Graduation Rate
Valvoline Nominates New Directors Amid Board Changes
University of Kentucky Achieves Record Graduation Success Rate
Severe Weather Expected in Lexington, KY
Kentucky Lawmakers Prepare for Budget Challenges Amid Federal Cuts
FCPS Initiates Facility Review to Enhance Financial Efficiency
Author: STAFF HERE LEXINGTON KY STAFF
The LEXINGTON STAFF WRITER represents the experienced team at HERELexingtonKY.com, your go-to source for actionable local news and information in Lexington, Fayette County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Woodland Art Fair, Crave Food and Music Festival, and Railbird Festival. Our coverage extends to key organizations like Commerce Lexington and Blue Grass Community Foundation, plus leading businesses in education, manufacturing, and technology that power the local economy such as University of Kentucky, Toyota Motor Manufacturing, and Lexmark. As part of the broader HERE network, including HEREBowlingGreen.com and HERELouisville.com, we provide comprehensive, credible insights into Kentucky's dynamic landscape.
