Research Triangle High School
Minutes
Finance Committee Monthly Meeting
Date and Time
Tuesday January 9, 2024 at 10:00 AM
Location
RTHS Board of Directors is inviting you to a scheduled Zoom meeting.
Topic: RTHS Board of Directors' Zoom Meeting
Time: This is a recurring meeting Meet anytime
Join Zoom Meeting
https://rthighschool.zoom.us/j/93566460638
Meeting ID: 935 6646 0638
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Meeting ID: 935 6646 0638
Find your local number: https://rthighschool.zoom.us/u/ahcfCIgHb
The RTHS Board of Directors meets monthly on the Third Wednesday of each month, except for December and July. Meetings are held onsite at 5:30pm until 7pm, upstairs in the Conference Room (Room 200).
Committee Members Present
A. Drake (remote), C. Coia (remote), G. Rodgers (remote), M. Babb (remote), N. Lightner (remote)
Committee Members Absent
S. Rivers-Kobler
I. Opening Items
A.
Record Attendance
B.
Call the Meeting to Order
C.
Approve Minutes
II. Finance
A.
Budget Review; Actuals vs. Budget
- Corporate/Board/Private Donations - adjusted down based on actuals
- HVAC - power surge fried the motherboard and had to be fixed in excess of budget
- Salaries - adjusted down w/ vacant and replacement positions (AP was only unfrozen position - 3 frozen positions still)
- Student Information Management Services - increased for Acadia to process enrollments
- Athletics - increased to rent facilities for athletic events, uniforms, stipends - Finance Committee requested additional information (it was noted that the number was increased by former Director of Ops)
- Safety: off duty officer - budget was low to begin with while checking of RTP tax district would pay for the officer (did not come to fruition), had to increase to account for full costs
- Background checks - as a result of extra hiring than normal, additional budget added to the pool
- Statefunds - Fines & Forfeitures - actual numbers came in lower, adjusted up
III. Other Business
A.
Initial FY25 Budget Forecast
- Reviewed draft budget at a 0% increase
- ADM 575 (explained student replacement after last year's attrition) driving revenue
- Assuming 2% in county funding
- Salary projection is keeping support and instructional coach positions frozen
- Other changes all 10K and under
- Discussed capital reserves and any capital replacements that may be needed in the 2024-2025 school year