IPEC adopts four-year operating referendum at 0.372, revenue to be split evenly between IPS and charter schools

The Indianapolis Public Education Corporation voted unanimously on June 22 to back a four-year operating referendum at a 0.372 rate that officials estimate would generate about $87.8 million annually, split roughly $43.9 million to Indianapolis Public Schools (IPS) and $43.9 million to public charter and innovation schools within the IPS boundary.

The board approved the measure after staff recommended a four-year approach and a middle-ground rate that officials said balances revenue needs with voter affordability. The acting executive director, introduced by the chair before his presentation, told the board the 0.372 figure "is a best effort with lots of input" and that the number sits "smack dab in the middle" of the options considered. He said the estimate includes assumptions about student counts and noted the referendum will trigger a division of funds by student population between district and charter operators.

The presentation included projected offsets and required spending reductions: staff estimated roughly $44 million in savings would be needed against the budget, IPS had already announced about $17 million in cuts plus another $7 million, and the plan anticipates negotiating further savings and state funding relief. The acting executive director said innovation-network schools would be expected to phase in in-kind contributions and that the group is exploring additional state relief for special education and English-language learners.

Public commenters and business and education leaders urged passage but pressed for strong transparency and accountability measures. "We celebrate the wins, brainstorm our challenges, and together determine the best path forward," said Lisa Roselle, IPS executive director of special education, describing a funding gap for high-needs seats and urging the board to "keep these students at the center." Jeffrey Harrison, chair of the Indy Chamber Board, said the Chamber supports the 0.372 rate but expects "discipline, transparency, and a clear focus on results."

The board first considered an alternative motion to adopt a 42-cent rate for four years; that motion failed on a voice vote. A subsequent motion to support the acting executive director's 0.372 recommendation passed unanimously. Chair Harris closed the action by reaffirming the board's intent to prioritize implementation details, accountability and community engagement.

The board also directed staff and working groups to continue developing implementation plans, including transportation and facilities phases tied to the referendum timeline, and noted a status update is due to the Indiana General Assembly by August 31.