KATY, TX --Protesters in Katy say the school district has enough money to keep the 500 teachers it plans to lay off. About two dozen people rallied outside the district's board meeting on Monday afternoon. The protesters claim the district has its own version of a Rainy Day Fund worth $80 million. "That's a source of money. They should look at it very closely before they start laying off teachers. We need the teachers. We don't need the buildings," concerned resident Sean Murphy said. "The fund balance only has a certain amount of money in it. And if we use it all now, there's no mechanism to replace it other than raising taxes and we have no desire to do that," Katy ISD Superintendent Alton Frailey said. The superintendent says the district is willing to tap into the fund, but the problem is the district doesn't know exactly how much funding it's losing from the state.