Research Triangle High School
Minutes
RTHS Finance Committee Meeting
Date and Time
Wednesday March 11, 2026 at 9:00 AM
Location
Join Zoom Meeting
https://rtp-org.zoom.us/j/85230571593?pwd=KS3gaSaAcdi4b2yuRt4TDPf40sEzrH.1
Meeting ID: 852 3057 1593
Passcode: 897069
The RTHS Finance Committee meets on the second Wednesday of each month, except in December and July. Meetings are held virtually.
Committee Members Present
A. Griffin (remote), C. Coia (remote), E. Cunningham (remote), S. Hunter (remote)
Committee Members Absent
None
Guests Present
A. Drake (remote), N. Lightner (remote)
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
C. Coia called a meeting of the Finance Committee of Research Triangle High School to order on Wednesday Mar 11, 2026 at 9:01 AM.
C.
Approve Minutes
E. Cunningham made a motion to approve the minutes from RTHS Finance Committee Meeting on 02-11-26.
C. Coia seconded the motion.
The committee VOTED to approve the motion.
D.
Approve Minutes - Special Finance Committee
E. Cunningham made a motion to approve the minutes from Special Finance Meeting on 03-02-26.
C. Coia seconded the motion.
The committee VOTED to approve the motion.
II. Finance Committee Business
A.
Finance Committee
- Annual budget surplus increased to $339K (Durham increase to funding) and DSCR at 1.64
- Discussed overage uses
- Looked at quotes to move bond funds to CDs or money markets
- Evaluate if debt reserve fund could move to CD
- FY 26-27 Budget - putting 3% increases on Durham and Wake revenue
- EC Funding Excess - projected to use all of funding this and/or next year (and will at a minimum spend the minimum balance required to be exhausted)
B.
Proposed Surplus Spend
E. Cunningham made a motion to Recommend the Board approve spend $110,340 on storage sheds, LED school zone signs on NC54, laptops for staff refresh, event hosting infrastructure (pending review of lease option on poster printer), laptop checkout stations (pending additional info on warranty, subscription/servicing fees).
C. Coia seconded the motion.
$110,340
- $9.5K storage sheds for robotics and student services
- $3.8K LED school zone signs on NC54
- $70K faculty device refresh
- $25K laptop checkout stations
- $2.8K event hosting infrastructure (chairs, tables, AV equipment
C.
Bond Funds to Money Market
S. Hunter made a motion to Recommend Board approval to move bond funds to money market (current APR 3.5%) pending confirmation that a CD is not an option.
C. Coia seconded the motion.
The committee VOTED unanimously to approve the motion.
III. Closing Items
A.
Adjourn Meeting
There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 9:48 AM.
Respectfully Submitted,
C. Coia