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I. Call to Order

Mr. Tom Haggard, Board Chair

II. Roll Call

Mr. Tom Haggard, Board Chair

III. Pledge of Allegiance

Board Members

IV. Welcome and Board Chair Comments

Mr. Tom Haggard, Board Chair

V. Public Input

Mr. Tom Haggard, Board Chair

Rationale

Members of the public may address the Board during the period set aside by the Board without submitting an item for the agenda. No action shall be taken during this portion of the meeting on issues raised by employees or the public unless deemed an emergency by the Board. Please note: Comments are asked to refrain from personal remarks in which an individual is named. Comments are limited to two minutes unless extended by the board chair. Critical comments or complaints are processed through the District’s complaint procedures. Questions and concerns will be addressed by the Board through various venues, including, but not limited to, the district website and e-mail.

VI. Report of the Treasurer

Ms. Annette Burtschy, Director of Finance

VI.1. Tax rate discussion for FY27

Ms. Annette Burtschy, Director of Finance

Rationale

The Finance Director will go over Covington's tax reports provided by Kentucky Department of Education (KDE) & other documents relating to the tax discussion.

Attachments

VI.2. August Warrants

Ms. Annette Burtschy, Director of Finance

Attachments

VI.3. Monthly Financials

Ms. Annette Burtschy, Director of Finance

Rationale

Budget Narrative for July FY2027 monthly financial statement:

General fund (fund 1) – as of 7/31/26, revenue received of 9.6 million with expenses of 2.1 million.
Special revenue (fund 2) – as of 7/31/26, revenue received of $305,000 with expenses of $481,000.Many grants in fund 2 are on a reimbursement basis. Money is requested after the expenses have occurred. There is a delay on receiving fund 2 revenue.
School Activity Fund (fund 25) – as of 7/31/26 revenue received of $237,300 with expenses of $-829.05.This fund was set up end of FY20 due to a new GASB standard that went into effect.
Capital outlay (fund 310) - as of 7/31/26, revenue received of $146,260 with expenses of $0. The state does not provide all the capital outlay funding until the end of the fiscal year. This fund is used to pay the district’s bond payments. Bond payments occur throughout the whole fiscal year under fund 400 (new for FY’13 per KDE). Money will be transferred out of capital outlay into the debt service fund throughout the fiscal year.
Building fund (fund 320) - as of 7/31/26, revenue received of $705,234 with expenses of $0. This fund is used to pay the district’s bond payments. Bond payments occur throughout the whole fiscal year under fund 400 (new for FY’13 per KDE). Money will be transferred out of building fund into the debt service fund throughout the fiscal year.
Construction fund (fund 360) - as of 7/31/26, revenue received of $250,000 with expenses of $0. This fund is used to pay for the district’s construction projects.
Debt Service fund (fund 400) – as of 7/31/26, revenue received of $0 with expenses of $720,500. See detailed explanation under capital outlay and building fund.
Food service fund (fund 51) – as of 7/31/26, revenue received of $47,500 with expenses of $61,500.
Daycare fund (originally fund 50 – switched to fund 52 per KDE) – as of 7/31/26, revenue received of $0 with expenses of $0. Revenue comes in throughout the fiscal year.

NOTE: fund 1, fund 2, fund 51, and fund 52 aren’t balanced in MUNIS as of July 31, 2026. Budgets are being worked on during the summer.

Completed 8/4/26 by Annette Burtschy

Attachments

VII. Consent Agenda

VII.1. Leave of Absence Request ~ Employee #6795