INDIANAPOLIS — The Indianapolis Public Schools Board of Commissioners voted to approve a Memorandum of Understanding (MOU) with the Indy Chamber to implement efficiency findings from its recent operational assessment. The agreement formalizes the Chamber’s commitment to help IPS cut costs as the district seeks $272 million in operating and capital referenda in this fall’s election.
Under the MOU, IPS and the Chamber will continue to work together on plans for long-term financial stability, driving more resources into the classroom and supporting much-needed teacher and principal pay increases.
The Chamber worked with IPS since March on an assessment that found more than $477 million in potential savings. This analysis allowed the district to reduce its operating referendum proposal to $220 million (less than $5 a month for a typical IPS homeowner) and include 16 percent average raises for teachers and $150,000 principal salaries to boost hiring and retention of qualified educators.
The Chamber also committed to raise up to $500,000 over three years to fund two new IPS positions, a Chief of Transformation and Enterprise Development Director, to identify and implement efficiencies. They will also fund continued consulting services (up to a year) developing a detailed implementation plan from the operational assessment, and create an Executive Task Force made up of senior IPS leaders that would also include Chamber representation
To download the full IPS operational assessment, visit indychamber.com/IPS.