COVINGTON, KY – Tuesday evening, the Mayor and City Commission accepted the Fiscal Year 2016 Comprehensive Annual Financial Report (FY 16 CAFR) and were presented with the allocation matrix for the $4.7 million in carryover funds as authorized by the Fiscal Stability Ordinance.
Director of Finance & Operations Lisa Desmarais gave the presentation summarizing the specific allocation of ca...
COVINGTON, KY – On Tuesday evening, the Board of Commissioners Legislative meeting featured a presentation on the City’s Fiscal Year 2016 (FY 16) preliminary Comprehensive Annual Financial Report (CAFR), highlighting $4,700,737 in carryover funds from the previous fiscal year.
Presented by the Lexington based accounting firm RFH, PLLC CPAs and Consultants, the CAFR consists of the City...
COVINGTON, KY – On Tuesday evening, the Board of Commissioners approved the City’s 2016 property tax rate, keeping it the same as 2015. City staff recommended maintaining the same property tax rate as last year since increased property values will result in additional revenue.
At the meeting, Assistant Finance Director Dave Mathews presented on the property tax rate explaining th...
COVINGTON, KY – Clinical Trial & Consulting Services will be relocating their global headquarters to Covington, Kentucky.
Earlier this morning, Governor Matt Bevin made the announcement that the pharmaceutical and biotechnology organization confirmed its move into the RiverCenter Towers. This news comes from almost 10 months of collaboration between the following: Corporex Companies, LLC...
COVINGTON, Ky. – The City of Covington announced today the launch of a new digital platform powered by OpenGov that provides the public unprecedented access to the city’s financial and operational information. In its first release, the city is including its financial data.
The OpenGov platform displays the city’s financial data in an interactive, digital format that enables bette...
COVINGTON, Ky. – The City of Covington has finally freed itself from the need of a $3.5 million short-term loan, relied on for the last 40 years.
At Tuesday night’s meeting, Covington Mayor and Commissioners voted not to renew the City’s annual short-term loan known as a Tax Anticipation Note (TAN).
Every year since 1976 the City has used the TAN to pay its payroll, employ...
COVINGTON, KY – Covington’s Board of Commissioners were presented with relatively good news during their meeting Tuesday night in the form of a $2.19 million carryover from the previous fiscal year.
A presentation on the City’s Annual Financial Report by the accounting firm Clark Schaefer Hackett revealed that the carryover from the previous fiscal year to be approximately $2,190...
COVINGTON, KY – City Manager Larry Klein and Interim Finance Director and City Operations Director Lisa Desmarais presented Covington’s Board of Commissioners with an overview of a proposed Fiscal Stability Ordinance last night.
The ordinance is the result of an anticipated budget carryover from the City’s previous fiscal year and outlines how City carryover funds can be used res...
COVINGTON, KY – After spirited debate about fiscal responsibility and the cost of providing services, the City of Covington Board of Commissioners approved an increase in the property tax rate at its August 25 meeting.
Much of the discussion hinged on public safety, fire and police staffing and the need to grow revenue and fund infrastructure and capital expenses.
The vote followed a pub...
The City of Covington is seeking a qualified candidate for the position of Finance Director. This position works under the direction of the City Manager and serves as Chief Financial Officer of the City. The Finance Director plans, organizes, directs, controls and evaluates the activities of the Finance Department. To view more information about the City of Covington and this position please click...