The Corbin Independent Board of Education received a clean financial bill of health during its regular monthly meeting Thursday.
The board approved the fiscal year 2023-2024 audit, which was performed by the auditing firm of Patrick & Associates LLC out of Winchester.
Auditor Beth Francis noted that the audit process went “really smoothly” with “no findings.”
“You have an unmodified opinion, which is the best opinion you can get,” Francis said. “There is nothing but good things … You all are in compliance.”
The district ended of the fiscal year on June 30, 2024, with an unassigned balance of about $6 million, which means that those monies have not been formally obligated through board action.
“In our case, this includes a variety of ‘pots’ set aside for district initiatives including: 1:1 technology expenses, specific activity accounts, and/or planned district expenses that are upcoming in the next fiscal year,” Corbin Independent Schools Director of Finance and Business Rhonda Moore explained Monday about the unassigned funds.
“Further, the district is required to maintain a contingency for unforeseeable events, and while the contingency is included in this figure, the entire amount is not freely available. The district annually budgets for increases in insurance costs, increases in substitute payroll, inflation in diesel fuel, utility expenses, School Resource Officers and ongoing instructional resources. Basically we have to prepare for any unfunded mandates that we cover each year.”
In other business, the board:
• Heard presentations from various representatives of Corbin High School, which hosted Thursday’s meeting. The Corbin High School JROTC presented the colors at the start of Thursday’s meeting, and the Corbin High School Choir sang the national anthem. Various Corbin High School administrators, students and alumni spoke concerning various programs at the school and what those programs have meant to them personally.
Corbin High School was the eighth highest ranked high school in the state following the latest round of state testing last school year. In addition, it ranked third in the state in science, social studies and writing combined score. It ranked ninth in the state in math and reading combined score, and 16th in ACT composite score in Kentucky.
• Discussed the 2025-2026 school calendar. Superintendent Dave Cox noted that there have been a lot of good comments about this year’s school calendar and the proposed new calendar is the same as this year’s calendar but with changed dates. The board is expected to approve the new calendar during its January meeting.
