IPS Invests Cash in Merchants Money Market
Indianapolis Public SchoolsSchool · Indianapolis, IN- Disclosed value
- $78,174,868.21 beginning balance; July deposits $8,000,000.00; disbursements $(7,000,000.00); interest income $248,458.03; ending balance $79,423,326.24
- From report
- Document date
- Aug 6, 2026
The 30-second brief
IPS holds over $79.4 million in a money market account at Merchants Bank of Indiana, earning 3.67% interest with nearly $248,500 in income during July 2026. The account provides liquid investment for district cash equivalents.
Merchants Bank of Indiana holds this financial services contract with Indianapolis Public Schools. Its other public contracts on record include work for Iowa Finance Authority.
Term as filed: Ongoing money market account; July 2026 activity at APY 3.670%.
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Contract details
- Contract type
- Financial Services
- Amount
- $78,174,868.21 beginning balance; July deposits $8,000,000.00; disbursements $(7,000,000.00); interest income $248,458.03; ending balance $79,423,326.24
- Document date
- August 6, 2026
- Term
- Ongoing money market account; July 2026 activity at APY 3.670%
- Source document
- Indianapolis Public Schools Treasurer's Report: Cash & Investments 2026-08-06 (Report)
Merchants Bank of Indiana's other public contracts
More Indianapolis Public Schools contracts
Questions about this contract
Who was awarded the financial services contract by Indianapolis Public Schools?
Merchants Bank of Indiana was awarded this financial services contract by Indianapolis Public Schools, as recorded on August 6, 2026. The contract value is $78,174,868.21 beginning balance; July deposits $8,000,000.00; disbursements $(7,000,000.00); interest income $248,458.03; ending balance $79,423,326.24.
How much is the Merchants Bank of Indiana contract with Indianapolis Public Schools worth?
The Merchants Bank of Indiana contract with Indianapolis Public Schools is valued at $78,174,868.21 beginning balance; July deposits $8,000,000.00; disbursements $(7,000,000.00); interest income $248,458.03; ending balance $79,423,326.24, 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.
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What other contracts does Merchants Bank of Indiana hold?
Merchants Bank of Indiana may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is Indianapolis Public Schools currently buying?
Explore Indianapolis Public Schools's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.