The Corbin School District appears to be in good financial shape for the upcoming school year.
At the Board of Education meeting on July 15, the board received an update on its restricted building funds.
The discussion was focused on the money restricted for the district’s use on facilities. The money comes in through various sources such as tax payers, the Kentucky Department of Education and state legislation.
At the end of the current fiscal year (2021-2022), the district expects to have approximately $600,000, which can only be used for facilities projects.
The board is not required to use that money immediately. It can be saved to use with funds that it will receive in the upcoming years.
The money is the result of a “perfect storm.”
The district gets money from the Kentucky Department of Education (KDE) based on how many students it has and how much money it sets aside for facilities from tax payer money.
If a district has more students, or if it is willing to set aside more tax payer money for facilities, the KDE will give more money because more students equates to a greater need and that district has shown a willingness to invest money into its facilities.
The “perfect storm” for Corbin happened when the KDE increased its funding for kindergarten and the legislature agreed to match more facility money.
While the money is still restricted for facilities, the district is in a financial position to begin work on projects that were not necessarily at the top of the to do list.
“The stars have aligned, and we are in a position where all of our buildings are newer or renovated,” explained Financial Officer Rhonda Moore during the meeting. “We are working down into that District Facility Plan.”
Things like fixing roofs and buying new buses took precedent over things like fixing bleachers, but now the district has more financial flexibility to begin working on those projects.
One of the major projects discussed at the board meeting was the restroom facility at the football field.
The board hosted a special called meeting Tuesday night to visit the field and discuss what changes need to be made to eliminate problems such as sewage backup in the facility.
The meeting was not yet complete as of press time, but no action was expected to be taken.
At the July 15 meeting, the board also unanimously approved:
- A field trip request for the Corbin High School Marching Band to travel to Ohio in November for the Mid States Band Association competition.
- The creation and approval of a Corbin Elementary School girls’ basketball coach position.
- The district’s participation in the National School Lunch Program and utilize the Seamless Summer option for the school year 2021-2022.
- Accepted the Steele-Reese Foundation grant in the amount of $47,000.
- The second reading on 23 policies and five procedures.
- Accepted the GEER grant in the amount of $100,000 split over two years ($50,000 each year).
- A fidelity bond for Finance Officer Rhonda Moore.
- Approve and create a Steele Reese Re-Engagement-Youth Career Center Teacher position, which will be funded through a new grant for 2021-2022.
- Approve and create a GEER Program Family Liaison position, which will be funded through the GEER grant.
- Accepted and awarded bids for the Corbin Middle School concession and restrooms to: ATS ($45, 450), Philpot Enterprises ($52,450), Babcon Inc. ($46,400), and Conner ($41,00).
- Approved the revised BG-1s for the Corbin Middle School restrooms and concessions, Corbin High School Career Center, Corbin Elementary School elevator.
- Abolished the administrative athletic director position.
- Superintendent David Cox’s contract effective July 1, 2021 through June 30, 2025.
The board also entered an executive session for the purpose of discussing proposed or pending litigation. No formal action was taken.