JCPS revenue task force to meet Monday to discuss budget shortfall, expenses

LOUISVILLE, Ky. (WDRB) -- A meeting planned Monday will discuss the $188 million deficit facing Jefferson County Public Schools.

The JCPS Revenue Advisory Task Force meets at 5:30 p.m. at the VanHoose Education Center. The agenda includes getting background information about district expenses and how funding needs have shifted over time. The meeting is open to the public.

JCPS blames the deficit, in part, on relying on one-time federal COVID-19 relief dollars to fund recurring expenses.

Superintendent Brian Yearwood is asking the district to get several bids for companies to perform an audit.

JCPS is currently short $188 million, and district leaders said in mid-September that the situation is so severe they may be forced to sell a portion of an $80 million investment portfolio assets just to make payroll. It'll help the short-term pitfall, but that safety net will no longer be there.

Yearwood has proposed $132 million in cuts for the 2026-27 school year, which will mostly come at the district's central office. He called these moves "a large share" of the total reductions. He said staff and teacher salaries in schools won't be affected. JCPS CFO Eddie Muns said he isn't sure of the number of people in administrative roles or their salaries are comparable to similar-sized districts.

Board Chair Corrie Shull said the board was misled, and financial leaders admitted they'd cut information from briefings — including organizational charts — because they didn't see it as "relevant."

In 2019, the district's budget was $1.7 billion. Its current $2.3 billion budget is nearly double that of Louisville Metro Government.

In August, the board voted to approve a new property tax for next year. The district said the change in property tax will generate an additional $36.5 million compared to last year, bringing the district's total estimated tax revenue to nearly $799 million. About $58.5 million of that will be used for capital projects and paying off bond debt, while the remaining $740 million will go into the General Fund for school operations.

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