The Indianapolis Public Education Corporation will consider a proposed $3.2 million budget for 2027 at its next meeting on Oct. 29, the first annual budget for the new agency.
State lawmakers created the corporation through a law passed earlier this year. The mayor-appointed board is charged with overseeing buildings and putting a unified transportation plan in place for both Indianapolis Public Schools and charter schools, work it is set to take over in 2028.
The $3.2 million represents the estimated 3 percent of local property tax revenue the agency is allowed to receive for its own operating expenses under the new law. About $1 million would go to salaries and benefits. The corporation currently has two full-time staff members — executive director Karega Rausch and executive vice president Andrew Strope — and at least two more could be hired next year.
Another $1.9 million is budgeted for consulting and expert services. The corporation must also create a school rating system covering district and charter schools, which could inform potential school closures, and adopt a unified enrollment system for both school types.
The budget sets aside $300,000 for office space. Staff are currently working out of the Indianapolis City-County Building at no cost while the agency looks for a long-term home.
