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.

The Kentucky School Boards Association provides updates on the legal policy amendments that must be made to our policies annually.  These amendments are based on changes with the Kentucky Revised Statutes (KRS), the Kentucky Administrative Regulations (KAR) and legal opinion.

These policy amendments were reviewed by district departments.

This is the first reading for these policy amendments, final reading will be on August 15, 2024 Regular Board meeting agenda.

• C17_Pol_Policy Updates for review_First Reading 7.25.24_

Holmes Middle School is eligible for the reinstatement of the School-Based Decision Making (SBDM) Council for the 2024-2025 School Year. KRS KRS 160.346(15) states that the school’s council may be restored by the local board of education two years after the school exits CSI status.  

Budget Narrative for June FY2024 monthly financial statement:

1. General fund (fund 1) – as of 6/30/24, revenue received of 50.7 million with expenses of 35.6 million.
2. Special revenue (fund 2) – as of 6/30/24, revenue received of 22.3 million with expenses of 24.5 million. 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.
3. School Activity Fund (fund 25) – as of 6/30/24 revenue received of $250,000 with expenses of $40,000. This fund was set up end of FY20 due to a new GASB standard that went into effect.
4. Capital outlay (fund 310) - as of 6/30/24, revenue received of $329,829 with expenses of $329,829. 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.
5. Building fund (fund 320) - as of 6/30/24, revenue received of 2.9 million with expenses of 2.9 million. 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.
6. Construction fund (fund 360) - as of 6/30/24, revenue received of 11.3 million with expenses of 12.2 million. This fund is used to pay for the district’s construction projects.
7. Debt Service fund (fund 400) – as of 6/30/24, revenue received of $1,547,035.15 with expenses of $1,547,035.15. See detailed explanation under capital outlay and building fund.
8. Food service fund (fund 51) – as of 6/30/24, revenue received of 4.3 million with expenses of 3.6 million.
9. Daycare fund (originally fund 50 – switched to fund 52 per KDE) – as of 6/30/24, revenue received of $329,000 with expenses of $324,000. Revenue comes in throughout the fiscal year.
   
   

Completed 7/1/24 by Annette Burtschy

• balance sheet June 2024
• financial report June 2024
• Info on funds to help with monthly MUNIS report for board 3-12-21
• June 2024 bank account update for board portal 7-1-24
• June 2024 investments update for board portal 7-11-24
• yearly investments update 2024 for board portal

Pursuant to Policy 04.3111, the treasurer shall prepare warrants or “Orders of the Treasurer” to be acted upon at each regular Board meeting. The Board shall give subsequent approval to all budgeted disbursements made between meetings of the Board. Disbursements shall only be made on invoices for purchases made in accordance with District policy and procedures.

• Warrants for July 2024 board meeting for portal 7-16-24

The Kentucky Department of Education recognizes that it is a best-practice for board members to be knowledgeable of each schools’ activity fund balances.  School activity fund balances for a 6 month period will be brought to the board in January/February (July through December) & July/August (July 2023 through June 2024) of each year.  

Keep in mind, finance brought REDBOOK funds for all elementary schools and HMS in house to finance in FY23 which means deposits, PO’s, invoices are all generated throughout the school year in MUNIS.  All their transactions show up on the monthly financial reports under fund 25.  

• FY24 school activity balances for 7-25-24 board meeting

Pursuant to CIPS Policy 01.4, Meetings; the minutes of Board meetings shall constitute the official written record of Board deliberations and actions. Board minutes shall only become official after they have been approved by the Board at a subsequent meeting and immediately thereafter have been signed by the secretary and the presiding officer. However, prior to approval of the minutes, the Board may amend or correct them in order to assure they are accurate. 

• 071124_MINUTES Reg Working Mtg.pdf

Pursuant to CIPS Policy 01.4, Meetings; the minutes of Board meetings shall constitute the official written record of Board deliberations and actions. Board minutes shall only become official after they have been approved by the Board at a subsequent meeting and immediately thereafter have been signed by the secretary and the presiding officer. However, prior to approval of the minutes, the Board may amend or correct them in order to assure they are accurate. 

• 071724_MINUTES Spec Mtg

Pursuant to CIPS policy 09.33 Fund Raising Activities, Board approval is required for all school-wide fundraising activities.  This fundraiser will allow the middle school cheer team to buy spirit wear, team gifts and have a banquet.

• HMS CHEER FUNDRAISER

A RESOLUTION OF THE BOARD OF EDUCATION OF THE COVINGTON INDEPENDENT SCHOOL DISTRICT AUTHORIZING THE ISSUANCE OF COVINGTON INDEPENDENT SCHOOL DISTRICT GENERAL OBLIGATION BONDS, SERIES 2024A, IN A MAXIMUM AGGREGATE PRINCIPAL AMOUNT OF $8,000,000, IN ACCORDANCE WITH SECTIONS 66.011 THROUGH 66.191 AND SECTION 160.160 OF THE KENTUCKY REVISED STATUTES, FOR THE PURPOSE OF FINANCING THE ACQUISITION, CONSTRUCTION, EQUIPPING, AND INSTALLATION OF CAPITAL IMPROVEMENTS TO HOLMES MIDDLE AND HIGH SCHOOL AND OTHER DISTRICT FACILITIES; APPROVING THE FORM OF THE BONDS; AUTHORIZING DESIGNATED OFFICERS TO EXECUTE AND DELIVER THE BONDS; PROVIDING FOR THE PAYMENT OF AND SECURITY FOR THE BONDS; ESTABLISHING A BOND PAYMENT FUND FOR THE BONDS; ESTABLISHING A SINKING FUND; AUTHORIZING THE ACCEPTANCE OF THE BID OF THE PURCHASER FOR THE BONDS; AND AUTHORIZING AND APPROVING THE EXECUTION OF ANY FURTHER NECESSARY INSTRUMENTS.

Adopted July 25, 2024

• Covington ISD - GO Bonds 2024 - Summary of Resolution(44414140.2).pdf
• Redline - Covington ISD - GO Bonds 2024 - Bond Resolution.pdf
• REVISED Covington ISD - GO Bonds 2024 - Bond Resolution(44293578.4)

Change order #1 is being processed for $18,000 to Blau Mechanical, Inc.  The original cost was $103,000.  The revised cost will be $85,000.  This change order is being done so the paperwork can be processed through KDE's FACPAC system to eventually process the BG5 so that the residual funds can be used for a future project.

• change order BG 23-252 7-16-24

This revised BG1 is being processed to reflect the $18,000 change order presented to the board to Blau Mechanical, Inc. along with the asbestos budget amount was taken out as it was not needed.  The revised BG1 is being done so the paperwork can be processed through KDE's FACPAC system to eventually process the BG5 so that the residual funds can be used for a future project.

• BG1 23-252 7-16-24

The Kentucky Department of Education requires Covington Independent Public Schools to approve the BG-4 Form to reflect the final construction cost.  Please see the attached BG-4 Form.

• BG4 23-252 7-16-24

The Kentucky Department of Education requires Covington Independent Public Schools to approve the BG-5 Form to reflect the final project cost. After the BG-5 is approved with KDE, the unspent residual funds that are available can be used for other BG-1 capital projects.  Please see the attached BG-5 Form.

• BG5 23-252 7-16-24

August 6 ~ Community Advisory Team (CAT) Meeting, 6 p.m. @ Sixth District Elementary

August 10 ~ Tom Ellis Athletic Memorial, Athletic Hall of Fame, Riverfront Radisson, 6 p.m. 

August 14-15 ~ PD Academy @ Holmes Campus, sessions begin at 8:30 a.m. 

August 15 ~ Regular Working Meeting, 25 E. 7th Street, 5:30 p.m.

August 19 ~ Opening Day, Jack Moreland Auditorium, time TBD

August 26 ~ First Day for Students (K-12)

August 29 ~ Regular Business Meeting, 25 E. 7th Street, 5:30 p.m.

September 27 ~ Covington Partners 25-Year Anniversary Gala, The Madison Event Center

Visit EventLink.com for all athletic schedules.  

Pursuant to KRS 61.810 (1) the Board may go into executive session.