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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. Monthly Financials

Ms. Annette Burtschy, Director of Finance

Rationale

Budget Narrative for November FY2026 monthly financial statement:

General fund (fund 1) – as of 11/30/25, revenue received of 35.7 million with expenses of 15.3 million.
Special revenue (fund 2) – as of 11/30/25, revenue received of 3.8 million with expenses of 3.8 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.
School Activity Fund (fund 25) – as of 11/30/25 revenue received of $262,000 with expenses of $10,000. This fund was set up end of FY20 due to a new GASB standard that went into effect.
Capital outlay (fund 310) - as of 11/30/25, revenue received of $147,500 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 11/30/25, revenue received of $2,340,000 with expenses of $112,000. 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 11/30/25, revenue received of $558,000 with expenses of 4.9 million. This fund is used to pay for the district’s construction projects.
Debt Service fund (fund 400) – as of 11/30/25, revenue received of $0 with expenses of 1.3 million. See detailed explanation under capital outlay and building fund.
Food service fund (fund 51) – as of 11/30/25, revenue received of $1,212,000 with expenses of $1,356,000.
Daycare fund (originally fund 50 – switched to fund 52 per KDE) – as of 11/30/25, revenue received of $296,000 with expenses of $122,000. Revenue comes in throughout the fiscal year.

November budget changes for fund 1:

11/17/25 Decreased/increased SBDM allocations based on 2^nd month kid count. Some schools increased in their allocation but some decreased in their allocation. Net effect savings to budget of $11,557.

11/18/25 Bus projection was $31,787 more due to purchasing a special education bus. Using building fund money processing a CFR (capital funds request). Bringing documentation to board 12/25.

11/25 Superintendent’s emergency/timing budget – in budget at 500K – this is used throughout the school year.

Completed 12/2/25 by Annette Burtschy

Attachments

VI.2. December Warrants

Ms. Annette Burtschy, Director of Finance

Rationale

Monthly warrants.

Attachments

VI.3. Revised BG 23-066 Holmes Campus Ventilation Upgrades

Burtschy

Rationale

Now that the project is complete, the BG1 was revised to reflect actual costs so that there would not be any unspent residual funds. This is different from most construction projects as this was mostly financed with ESSER funds and the district cannot have ESSER funds left over to be used on another construction project.

Also, the funding source amounts had to be revised because any change orders or work done after the project ended on 9/30/24, ESSER funds could not be used. Building fund cash had to pick up those change orders for an amount of $277,366.11. Please see the attached revised BG-1 Form.

Attachments

revised BG1 23-066 12-3-25

VI.4. Capital Funds Request for FY26

Ms. Annette Burtschy, Director of Finance

Rationale

The General Assembly continues to allow flexibility in the use of school district capital funds without forfeiting the district’s eligibility to participate in the School Facilities Construction Commission (SFCC) program. Since Covington Independent Public Schools is a HB678 district, CFR’s do not have to be submitted to KDE or approved by the board. CIPS leadership for transparency purposes still submits the CFR to the board.

Please find attached the Capital Funds Request (CFR). The district included property insurance for the district at $219,046 and one special education bus for the district at $191,787. The total cost of these expenses is $410,833. These general fund expenses will be moved over to this CFR funding. This will free up the general fund by $410,833. The original working budget had an estimate of $359,000 built into the budget.

Also, $111,772 was used for BG23-066, Holmes Campus Ventilation Upgrades, funded mostly by ESSER funding. Refer to the revised BG1 discussion on if any change orders were done after the project ended 9/30/24, they had to have another funding source pick up the cost. This amount of $111,772 is the change orders for FY26 only.

Attachments

CFR 12-3-25

VI.5. 2026 Budget - Charts and Spreadsheet Format

Ms. Annette Burtschy, Director of Finance

Rationale

Finance information in chart and spreadsheet format.

Attachments

VII. Consent Agenda

VII.1. Leave of Absence Request ~ Employee #6041