LOUISVILLE, Ky. (WDRB) -- Jefferson County Public Schools released its yearly financial audit, giving a detailed look at how the district managed its money last year.
JCPS used a new audit firm called LBMC. Despite a $188 million budget deficit, the audit claims the district's financial position remains strong and stable with an operating budget of about $2.4 billion.
More than $19 million of that money went to district administration.
JCPS also brought in nearly 9% more revenue than the year prior, including almost 7% more in property taxes.
However, the district still carries more than $740 million in debt. Linda Duncan, District Five board member, said she's pleased with the findings and said it reaffirms that the financial information the board has been receiving is accurate.
"These are very positive things for me, and I'm very pleased to see these come out in this audit," Duncan said during a Jefferson County Board of Education Meeting Tuesday evening. "I know we have a big mountain of things to be working on, but we're basically very stable."
Two more audits of the district's finances are still in progress.
To read the yearly financial audit, click here or on the PDF embedded in this story.
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