FINANCIAL_SERVICESONGOING

Bank of New York Oversees 2024 Lease Rental Fund

IPS utilizes Bank of New York to manage its 2024 Lease Rental Bond construction fund, disbursing $7.37 million for capital projects in July 2026 while earning over $307,000 in interest. The fund now holds about $57.4 million.

Status
ONGOING
Document date
August 6, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Bank of New York
Agency
Indianapolis Public Schools · IN

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WithersRavenel logo
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Comcate logo
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Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
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IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
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Scope & details

The full contract record, as filed.

Contract amount
$64,450,599.65 beginning balance; disbursements $(7,371,672.23); interest income $307,549.83; ending balance $57,386,477.25
Contract type
FINANCIAL_SERVICES
Contract term
Ongoing construction fund FMB24 account #9835 holding 2024 Lease Rental Bonds
Renewal
Construction fund continues until 2024 Lease Rental Bond proceeds are fully applied to authorized projects and reimburse IPS Fund 0708.
Document type
Report
Source document
Indianapolis Public Schools Treasurer's Report: Cash & Investments 2026-08-06

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Indianapolis Public Schools?

Bank of New York was awarded this financial services contract by Indianapolis Public Schools, as recorded on August 6, 2026. The contract value is $64,450,599.65 beginning balance; disbursements $(7,371,672.23); interest income $307,549.83; ending balance $57,386,477.25.

How much is the Bank of New York contract with Indianapolis Public Schools worth?

The Bank of New York contract with Indianapolis Public Schools is valued at $64,450,599.65 beginning balance; disbursements $(7,371,672.23); interest income $307,549.83; ending balance $57,386,477.25, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a report record, structured as a not-to-exceed (ceiling) agreement.

Where was this contract approved?

This contract appears in Indianapolis Public Schools Treasurer's Report: Cash & Investments 2026-08-06 (Report), dated August 6, 2026 from Indianapolis Public Schools. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Bank of New York hold?

Bank of New York may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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What is Indianapolis Public Schools currently buying?

Explore Indianapolis Public Schools's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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