Finance
Fayette schools face accounting concerns as outside reviews continue
LEXINGTON, Ky. — As the school district works to rectify potentially decades of inaccurate accounting, two finance employees with Fayette County Public Schools are on paid leave. At the same time, two external reviews continue for Kentucky’s second-largest school district.
FCPS Superintendent Demetrus Liggins said he’s been made aware of troubling and deeply concerning information.
“I’ve spoken with several of our district’s financial advisor and our external audit firm and have conducted our that’s conducted our routine audit. and those conversations have also revealed issues that I was unaware of,” Liggins said.
One review is from accounting firm Weaver and Tidwell, hired by the district, and another, which Liggins said he requested, is being conducted by the auditor of public accounts.
While those reviews are ongoing, and based on preliminary reporting, Liggins said he’s been informed of both inaccuracies and improper accounting practices that date back to 2008.
Last month, the district hired Kyna Koch, a former associate commissioner of finance for the Kentucky Department of Education, as the interim chief financial officer.
Since taking on the task, she said she doesn’t have confidence in the numbers she’s been asked to review.
“Federal and state requirements may not have been followed, and our accounting procedures may not have been aligned with acceptable practices,” Koch said.
Koch said inaccuracies were found in revenue collection, record-keeping, invoicing, and that spending guidelines may not have been followed.
Now she’s helping set new measures, like additional reviews, to dig deeper and provide a clearer financial picture.
“It’s clear that these practices are sometimes nuanced and not easily identified through routine financial reports that are provided to the superintendent and the board. Some of these things would not have been readily apparent based on the information typically generated,” Koch said.
Koch is also recommending that the district get a short-term loan to cover expenditures until next fall’s property taxes are collected.
Though the district is not releasing names at this time, Liggins did comment on the status of some finance administrators.
“We currently have three administrators in our financial and accounting office. Two are on paid administrative leave, and one is on medical leave,” Koch said.
Those on paid administrative leave are pending an investigation.
Liggins said while they are still awaiting finalized reports from those outside audits, they’re aiming for accuracy and transparency in their next moves.
“As we continue this work, I’m committed to following the facts wherever they may lead, and whatever they may uncover, we’re only after the truth,” Liggins said.
Liggins was asked on Thursday whether property taxes would increase for the 2026-27 school year. He said they are not currently planning to ask the board to raise property taxes any more than they typically have in years past.
On Monday, Koch will present her latest findings to the board at its regularly scheduled finance meeting.
Koch also said the district plans to have a loan proposal ready as soon as next month.
Finance
Athol Finance Committee recommends passing 30 of 34 Town Meeting articles – Athol Daily News
Overview:
The Athol Finance and Warrant Advisory Committee recommended passing 30 of the 34 Town Meeting articles, with two recommended against and two held until the next meeting. The two articles that were not recommended for passage dealt with the town’s responsibility for maintenance of private roadways. Article 29 would amend the town’s bylaws to allow temporary repairs to be made to private ways, while Article 34 would require the town to minimally maintain all asphalt private roads. The committee decided to delay action on Articles 7 and 21 until the Selectboard addresses the issue at its meeting on Tuesday.
ATHOL – A recent meeting of the Finance and Warrant Advisory Committee saw a recommendation to pass 30 of the 34 Town Meeting articles, with two recommended against and the two more held until the next meeting.
In light of the uncertainty over the details of Article 29 and concerns regarding Article 34, a citizen’s petition, the committee voted unanimously not to recommend passage. The two articles each have to do with the town’s responsibility relative to maintenance of private roadways, including temporary repairs and plowing.
Article 29 would amend Chapter V, Section 33 of the town’s bylaws by removing the wording of Section 33 in its entirety and replacing it with new language. This section of the bylaw deals with the maintenance of private ways.
The new wording describes temporary repairs as including “grading and/or the filling of holes or depressions, as the superintendent of public works may deem suitable…[I]n no event shall such temporary repairs include extensive construction, reconstruction or installation of drainage.” The work would be done at the discretion of the highway superintendent.
The article also states that a petition from three-fourths of the abutters on a private way asking for temporary repairs can be presented to the Selectboard and forwarded to the Department of Public Works director. It will be up to the director to determine whether the requested repairs constitute a “public necessity.” The Selectboard will then vote to either approve or deny the petition following a public hearing.
Committee Chair Ken Duffy pointed out the existing bylaw requires petitions to be signed by all of the abutters. DPW Director Paul Raskevitz. added that, while the property of abutters on most private ways extends to the middle of the road, King Road is different.
“That one whole road is owned by one person on the end,” Raskevitz said at the committee’s meeting on May 12.
Article 29 also states that, if a petition is approved, the town manager must then determine if funds are available to do the work, “whether the financing…requires an appropriation, or borrowing.” If approved, the Selectboard must also determine if abutters will be assessed betterment charges and whether they will be required to put down a cash deposit for the work.
Article 34, submitted as a citizen’s petition from residents of King Road and other private ways, would maintain the wording of Chapter V, Section 33, relative to private roads. It also calls for the town to “minimally maintain all asphalt private roads” in the town. Such maintenance would include annual filling of potholes “with use of only asphalt or asphalt-based materials” and “minimal repairs of road drainage issues,” such as repairs to culverts.
“I was out on King Road Sunday,” said committee Chair Ken Duffy. “That first quarter mile is a bomb field. I know nothing about roads, but to me, we don’t have enough patch in this town for that section. That first two-tenths of a mile has got to be right down to the ground, to the dirt.”
“The problem is the lowest part,” said DPW Director Paul Raskevitz. “After it rains, it’s covered in standing water everywhere.”
Regarding the articles, said Duffy, “I think we have to think long and hard about what we’re getting into. After Article 29, the petition article says all the town roads are to be maintained, including that potholes be filled.”
Raskevitz said there are currently 33 private roads in Athol totaling about three miles in length. Of that number, only seven are plowed by the town in winter, through a memorandum of understanding approved by the Selectboard.
“Plowing it is one thing,” said Duffy. “Maintaining is a whole different ballgame.”
Town Manager Shaun Suhoski said the current wording for Article 29 is “just a placeholder,” adding that the Selectboard will look at a shorter version at its meeting on Tuesday, May 19.
“It’s a little too close to Town Meeting to change it,” Suhoski said. “I think we’re going to need a fall meeting this year.”
The articles on which the committee decided to delay action were Articles 7 and 21, both of which will be taken up by the Selectboard at its meeting on Tuesday. Article 7 deals with the proposed town budget for FY 27, while Article 21 asks for a transfer of $100,000 from free cash to the account set aside for “demolishing or securing unsafe structures.”
Several committee members, including Mike Butler and Vice Chair Ben Feldman said that, at this juncture, they opposed such a transfer. Both decided to wait until the committee’s meeting next Wednesday to see how the Selectboard addresses the issue at its Tuesday meeting before entertaining a motion to not recommend Article 21.
The Selectboard meeting on Tuesday, May 19, begins at 7 p.m. in Room 21 at Town Hall. The May 20 meeting of the Finance and Warrant Advisory Committee starts at 5:30 p.m., also in Room 21. Town Meeting takes place on June 8.
Finance
Casino Group Communication
Harmonization of the procedural framework for discussions
relating to the adaptation and strengthening
of the Casino Group’s financial structure
Paris, 15 May 2026
Further to the Group’s previous communications regarding the project to strengthen and adapt its financial structure, discussions are continuing with financial creditors across various entities within the Group.
As the formalization of a comprehensive agreement is facilitated by the existence of a uniform framework, the Group has applied to the President of the Paris Economic Activities Court for the opening of conciliation proceedings for the benefit of several of its companies1 for an initial period of four months, potentially extendable by one month. In this context, the appointment of SCP BTSG (Maître Marc Sénéchal) as conciliator is being considered for certain of these entities, while the appointment of SCP CBF Associés (Maître Lou Fréchard) is being sought as conciliator for Quatrim.
The Group will seek the consent of Quatrim’s high-yield bondholders for the opening of conciliation proceedings concerning Quatrim and Monoprix SAS, being respectively borrower and guarantor of these bonds.
These conciliation proceedings, which are consistent with those initiated early March2, only concern the financial debt of the companies involved and will have no impact on the Group’s relationships with its operating partners (in particular its suppliers) and employees. Operational activities will continue as normal, in line with the Group’s strategic priorities.
***
ANALYSTS AND INVESTORS CONTACTS
Charlotte IZABEL – cizabel@groupe-casino.fr – Tél: +33 (0)6 89 19 88 33
IR_Casino@groupe-casino.fr – Tél : +33 (0)1 53 65 24 17
PRESS CONTACTS
Casino Group – Communications Department
Stéphanie ABADIE – sabadie@groupe-casino.fr – Tél : +33 (0)6 26 27 37 05
directiondelacommunication@groupe-casino.fr – Tél : + 33(0)1 53 65 24 29
1 Casino Guichard Perrachon, Naturalia France, Monoprix SAS, Monop’ SAS, Samada, Aux Galeries de la Croisette, Monop’Station, O’Monoprix, OLogistique, C- Logistics, C-Technology, CLR, CLV, CShield, Cnova France, IGC Services, Cnova Pay, Casino Finance, Franprix Leader Price Holding and Quatrim
2 Press release dated 9 March 2026 : conciliation proceedings initiated for the benefit of Maas, Sédifrais, ExtenC, Monoprix Holding, Monoprix Exploitation, Distribution Franprix, Franprix-Leader Price Finances, Achats Marchandises Casino and Cdiscount
Attachment
Finance
Texas restaurants feel financial strain as costs continue to rise, report shows
Texas restaurant operators are continuing to face mounting financial pressure as rising food and fuel costs impact businesses across the state, according to the latest quarterly economic report from the Texas Restaurant Association.
The association’s 2026 first-quarter report shows that many restaurant owners are struggling to keep up with increased operating expenses while trying to avoid passing those full costs on to customers.
“You know, what we’re seeing a lot of in Texas from these quarterly economic reports that we do is that food costs continue to rise,” said Texas Restaurant Association Chief Marketing Officer Tony Abroscato. “We all know that it’s up 35% since the pandemic. And so that’s an impact on our restaurant.”
According to the report, 77% of restaurant operators reported increased costs of goods, while 66% said suppliers have added fuel surcharges as gas prices continue to climb.
“We’re seeing that 90% of consumers start to adjust their habits based upon rising gas prices,” said Tony Abroscato. “Then also those gas prices impact the cost of food because everything is trucked and shipped and a variety of different things.”
In addition to rising costs, labor shortages remain a major concern for restaurant owners. More than half of association members reported difficulties finding enough workers.
“You know, immigration is difficult and has had an impact on the restaurant industry, the farming industry, which again, then raises prices along the way,” said Abroscato.
Despite the financial challenges, the Texas Restaurant Association’s 2026 first-quarter report shows that Texas restaurants are only passing a portion of those increased costs on to customers while absorbing the rest through reduced profits.
Some restaurant owners have been making changes to adjust, like limiting menu items or even turning to QR code ordering, Abroscato said.
Copyright 2026 by KSAT – All rights reserved.
-
Oklahoma4 minutes ago
Oklahoma high school tennis Classes 6A-4A boys state championship results
-
Oregon10 minutes agoOregon health officials warn of measles exposure at Happy Valley clinic
-
Pennsylvania16 minutes agoWhat each Pennsylvania 3rd Congressional District Democratic primary candidate would do on Day 1
-
Rhode Island22 minutes agoPerson injured after falling onto Red Line tracks near Rhode Island Avenue station
-
South Dakota34 minutes agoSouth Dakota Highway Patrol: slow down, stay alert as summer traffic picks up
-
Tennessee40 minutes agoDemocratic Rep. Steve Cohen drops reelection bid in wake of Tennessee redistricting
-
Texas46 minutes agoTexas primary runoff: Key races on the May 26 ballot
-
Utah52 minutes agoUtah Weather: Increasing wind and fire dangers this weekend with a colder and wetter pattern arriving Sunday