Item:
Title
Resolution to support Durham Public Schools equipment financing agreement with Insight Investments LLC
Body
Date of BOCC Meeting: September 14, 2026
Request for Board Action:
Agenda Text
The Board is asked to approve a financing plan that will enable Durham Public Schools to acquire new classroom technology. Under this proposal, the Durham Public Schools Board of Education will enter into an equipment financing agreement with Insight Investments LLC to purchase approximately 1,996 interactive panels, including installation, training, and warranty services. The total cost of the agreement is $5,302,859.41, which will be paid over a 59-month period in five equal annual installments of $1,060,571.88, covering fiscal years 2026-27 through 2030-31.
Because this arrangement qualifies as a continuing capital outlay contract under North Carolina law (N.C. Gen. Stat. §§ 115C-441(c1) and 115C-528), it requires formal approval from the County Board of Commissioners before it can move forward. Importantly, this approval does not commit the County to spend new or additional money. Instead, the Board of Commissioners is simply pledging that its regular, ongoing appropriations to the school system will remain sufficient to cover the annual contract payments; the payments will be drawn from existing funding levels rather than supplemental funds.
Alignment with Strategic Plan: This item aligns with Durham County Strategic Goal: Financial Stewardship.
Resource Persons: Jeremey Teeter, CFO, Durham Public Schools; Crystally Wright, Chief Financial Officer; Keith Lane, Budget and Management Services Director; and Claudia Hager, County Manager.
County Manager’s Recommendation: The County Manager recommends that the Board approve the resolution to authorize Durham Public Schools to purchase interactive panels, including installation, training, and warranty services.
Signature
County Manager: ____________________________