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Record of Proceedings

Indianapolis Public Education Corporation Board Meeting - October 29, 2026

Other Meetings (I) — Thursday, October 29, 2026
BodyIndianapolis, Indiana
SessionOther Meetings (I)
DateThursday, October 29, 2026
StatusNEW · FILED
Video Record
0:00 / 39:28

Original source
Transcript — VerbatimClick a timed line to jump · ⧉ to share it

Speaker numbers apply only to this recording.

Speaker 1

0:40

And then we stick around.

0:43

For those that are here.

0:45

I didn't mean like each other.

Speaker 2

0:48

Thank you

Speaker 1

0:49

so much for your

Speaker 2

0:50

energy.

Speaker 1

0:54

That's how you go to the way.

0:56

Anything to get the ball over to go on.

Speaker 2

1:01

I don't know.

Unassigned speaker

1:01

It was a fast turnaround.

Speaker 1

1:04

We board members do not leave without signing the budget resolution.

1:09

So it requires signature.

1:11

We'll pass it around, but I just want to make sure if you're leaving, then you get tackled by the

Speaker 2

1:17

first delay.

1:20

I think we successfully, however, you know.

Speaker 1

1:45

But no, thank you for in that out.

1:48

Yeah.

Speaker 3

1:51

So

Speaker 1

1:51

we'll have to say that.

1:59

You get tackled by me.

Unassigned speaker

2:07

Okay.

Unassigned speaker

2:07

I don't think I can have it.

Unassigned speaker

2:12

No, I love it.

Unassigned speaker

2:15

I got the two best.

Unassigned speaker

2:17

So

Speaker 1

2:19

we see it will not be.

Speaker 4

2:25

Good afternoon.

Speaker 1

2:26

And

Unassigned speaker

2:26

I you.

Speaker 1

2:27

Yeah, okay.

Speaker 4

2:29

Nice to see everybody.

Speaker 1

2:32

Okay.

Speaker 4

2:34

We're gonna begin the July.

2:37

October 29th.

2:38

Wishful.

2:39

It feels kind of like July.

2:41

Our October 29th, 2026 meeting of the Indianapolis Public Education Corporation.

2:47

It's nice to see all of the board members and nice to see the staff and nice to see everybody in the audience.

2:54

Thank you for being here.

2:57

Um at the last board meeting, we approved an ethics code.

3:01

We had a public hearing on the budget, and this meeting we're gonna approve the budget or consider approving the budget and have a conversation about a few other items, including a contract and the referendum.

3:15

Um but before we get started with the substantive work, we need to approve the minutes from the last meeting.

3:24

And would entertain a motion.

3:28

We have a motion.

3:29

Do we have a second?

3:30

Second.

3:31

We have two seconds.

3:32

All those in favor say aye.

3:37

All right.

3:38

Terrific.

3:39

We're off to a good start, Mr.

3:42

Executive Director.

3:43

Um it's now an our opportunity to consider the budget.

3:48

We did have the public hearing at our last meeting.

3:50

And I am now gonna turn it over to Kariga to walk us through the budget proposal.

Speaker 3

3:59

Fantastic.

3:59

Um, well, thank you, uh board members.

4:02

Um we had the budget presentation um during the last meeting.

4:06

That information is available on our website.

4:08

Um what's um um staff is asking the board to approve.

Discussion Breakdown — Share of Meeting
Public Education Corporation█████████████████████████████████████37%
Budget█████████████████████████████████████37%
Public Engagement███████████████15%
Referendum██████6%
Procedural█████5%
Summary of Proceedings

Indianapolis Public Education Corporation Board Meeting - October 29, 2026

The board met to approve the first budget of the newly formed IPEC, discuss financial analysis support contracts, and receive an update on the upcoming operating referendum.

Consent Calendar

  • Approval of Minutes: The board unanimously approved the minutes from the October 19, 2026 public meeting.
  • Approval of Claims: The board approved claims for Bose McKinney & Evans LLP and Bose Public Affairs Group.

Discussion Items

  • 2027 Budget Approval: Executive Director Kariga presented the budget for approval, which included the IPEC budget and, if successful, $95 million in operating referendum resources. Board members discussed the need for future detailed planning, including a formalized staffing plan, pro forma projections, and the importance of strong financial management. A motion to approve the budget was made and seconded; the board voted unanimously to approve the first IPEC budget.
  • Fiscal Analysis Services Contract: Andrew introduced a proposed engagement with Policy Analytics to provide budget support, startup services, and financial analysis over the next six to nine months. The contract offers three cost options (A, B, C) with the expectation of using Option A (15 hours per month). Board members questioned the selection process and confirmed that a formal contract would follow. The board unanimously approved entering into the contract with Policy Analytics.
  • Referendum Status Update: The board received an update on the November 2026 operating referendum. Staff highlighted that the $95 million annual revenue (if approved) would go directly to schools—none to IPEC administration—and could be used only for teacher/staff retention, professional development, and academic programs. Public reporting tools and transparency measures were emphasized. The referendum replaces an existing one, with net cost to average homeowners of about $9 per month. Staff warned that failure could leave IPS insolvent and subject to state intervention. Board members reiterated the importance of accurate public information and encouraged voter education.

Key Outcomes

  • Unanimous approval of the 2027 IPEC budget.
  • Unanimous approval to enter into a fiscal analysis services contract with Policy Analytics.
  • Unanimous approval of claims for legal and consulting services.
  • The board scheduled its next meeting for November 12, 2026.

Meeting Transcript

And then we stick around. For those that are here. I didn't mean like each other. Thank you so much for your energy. That's how you go to the way. Anything to get the ball over to go on. I don't know. It was a fast turnaround. We board members do not leave without signing the budget resolution. So it requires signature. We'll pass it around, but I just want to make sure if you're leaving, then you get tackled by the first delay. I think we successfully, however, you know. But no, thank you for in that out. Yeah. So we'll have to say that. You get tackled by me. Okay. I don't think I can have it. No, I love it. I got the two best. So we see it will not be. Good afternoon. And I you. Yeah, okay. Nice to see everybody. Okay. We're gonna begin the July. October 29th. Wishful. It feels kind of like July. Our October 29th, 2026 meeting of the Indianapolis Public Education Corporation. It's nice to see all of the board members and nice to see the staff and nice to see everybody in the audience. Thank you for being here. Um at the last board meeting, we approved an ethics code. We had a public hearing on the budget, and this meeting we're gonna approve the budget or consider approving the budget and have a conversation about a few other items, including a contract and the referendum. Um but before we get started with the substantive work, we need to approve the minutes from the last meeting. And would entertain a motion. We have a motion. Do we have a second? Second. We have two seconds. All those in favor say aye. All right. Terrific.

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