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Research Triangle High School

Minutes

Finance Committee Meeting

Date and Time

Monday December 5, 2016 at 2:00 PM

Location

RTHS

Committee Members Present

C. Rockafellow, J. Kerr (remote), P. Blizzard

Committee Members Absent

None

I. Opening Items

A.

Record Attendance and Guests

B.

Call the Meeting to Order

P. Blizzard called a meeting of the Finance Committee of Research Triangle High School to order on Monday Dec 5, 2016 at 2:20 PM.

C.

Approve Minutes

J. Kerr made a motion to approve minutes.
C. Rockafellow seconded the motion.
The committee VOTED unanimously to approve the motion.

II. Finance

A.

Retreat action items

Committee reviewed Board action items.  Decided to:

1. Review the BOT sample Fiscal Policy Handbook and modify as needed to reflect existing policies of RTHS. Have a paste-in draft for Jan. Fin Comm meeting. 

2. Evaluate holes at Jan. meeting. Present at BOD meeting. Discussion on next policies to add.

3. Bond disclosure compliance quarterly/annual reports - For informational purposes. Finance Chair can mention that it is posted. Under Finance Committee Report. PB to add.

4. Prepare Financial Annual Calendar for BOD presentation in January.  PB - Finance Report January





 

B.

Other retreat action item

*Ensure Budgeting happens between CSO, CFO, Board & Fin Comm; 
*Make it a strategic priority-based budget
*Identify key priorities before budgeting

Include these 3 items as part of Annual Finance Calendar. Discussion about what strategies should be., e.g. John says: 
  • Stay in line with Bond covenants; just get into a rhythm on that for 3 to 5 years. Buying bldg was a HUGE strategic move as it was. Work to live within our means for the coming 36 months. JK
  • Raise $300K a year to enable hiring more teachers and reducing teacher workload.
  • Financial strategy - Set a Budget for Capital expenses each year.
What is expected life of HVAC system and roof?

III. Other Business

A.

Other financial

PB will have a Capital Expenditures update for the Board meeting which may include

athletic fields
arts equipment
lottery software
furniture

IV. Closing Items

A.

Adjourn Meeting

C. Rockafellow made a motion to adjourn the meeting.
J. Kerr seconded the motion.
The committee VOTED unanimously to approve the motion.
C. Rockafellow made a motion to adjourn the meeting.
J. Kerr seconded the motion.
The committee VOTED unanimously to approve the motion.
There being no further business to be transacted, and upon motion duly made, seconded and approved, the meeting was adjourned at 3:00 PM.

Respectfully Submitted,
P. Blizzard