For Immediate Release
June 23, 2026 at 11:30am
Indy Chamber Supports Proposed Operating Referendum for Indianapolis Public Education
The organization representing Central Indiana’s business community applauded IPEC for advancing responsible, sustainable funding for center-city schools.
INDIANAPOLIS. The Indy Chamber supports an operating referendum at a rate of 37.2 cents per $100 of assessed value for the Indianapolis Public Education Corporation (IPEC), which includes both Indianapolis Public Schools (IPS) and charter schools operating within IPS boundaries. The Chamber urged the IPEC board to advance the measure during its meeting Monday night.
The Chamber’s support reflects a clear but difficult balance: securing the strongest possible investment for students at the lowest responsible cost to taxpayers.
“The Chamber recognizes the importance of balancing critical assets like public education with affordability and consistency for taxpayers,” said Matt Mindrum, president and CEO of the Indy Chamber. “This is a position we don’t take lightly. But the stakes are high – strong public schools are critical for families, the workforce, and the long-term competitiveness of the Indy region. A failure to secure sustainable operating support would create instability as we are seeking to build a more coordinated and effective public education system.”
The IPEC was created during the 2026 Indiana Legislative Session to help better align resources and functions like transportation and facilities for IPS and the public charter schools within its boundaries. The goal is to bring greater coordination, transparency, and accountability to a public education landscape that has too often been fragmented and difficult to navigate. Future operating referendum revenue will be distributed to IPS and participating charter schools.
The Chamber believes the 0.372% operating referendum provides a fiscally responsible foundation for that work, while also addressing critical gaps in funding.
The current IPS operating referendum expires in December 2026, ending nearly $50 million in annual operating support. At the same time, IPS is managing a current operating deficit of roughly $40 million and has already identified $24 million in reductions for the 2026–27 school year.
The Chamber believes this moment calls for shared responsibility, not a single solution placed entirely on taxpayers. Changes in state funding have created real challenges for schools across the state, and Indianapolis is no exception. But taxpayers — many of whom are already facing serious affordability pressures — should not be asked to carry the full weight alone.
Our support is built on three commitments moving together: greater state investment in special education and English language Learners, common-sense cost sharing with Innovation Network schools, and time-limited taxpayer support through an operating referendum of up to four years and up to a 0.372% rate.
Based on local and national benchmarks, we believe this funding level is sufficient to create — and, more importantly, sustain — best-in-class public schools in the heart of Indianapolis. That does not eliminate the need for hard choices. Education leaders must still right-size the district’s footprint, improve efficiency, and focus resources on what most directly drives student success. Taxpayers are being asked to make a serious commitment; it is fair to expect the system to do the same.
“This historic level of investment in schools within IPS boundaries provides Indianapolis with an opportunity to build and sustain a strong foundation for best-in-class schools in the heart of Indianapolis,” Mindrum said. “Combined with the charge of the IPEC, this will set up students and our city’s future for long-term success. That is what our students deserve and what taxpayers should expect.”
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About the Indy Chamber
The Indy Chamber serves as a regional voice for progress, uniting business and community to strengthen the Indy region’s economy and quality of life. Through bold advocacy, economic development, and small & mid-size business support, we help fuel growth, expand opportunity, and position the region to compete and thrive. Working alongside civic, corporate, and community partners, the Indy Chamber focuses on attracting investment, developing talent pathways, and elevating the Indy region’s story. Guided by our core values – Love Indy, Dream Big, and Move Together – we bring leaders together to shape the conditions for growth and build a future where the Indy region leads the Midwest and competes on a global stage.
