Sign up for Chalkbeat Indiana’s free daily newsletter to keep up with Indianapolis Public Schools, Marion County’s township districts, and statewide education news.The Indianapolis Public Schools board reversed its decision from last year and approved Cold Spring School’s request to remain in the district’s Innovation Network as a charter school.The board also approved two new innovation schools: a second campus for Global Prep Academy and a new Monarca Academy high school. Both schools are already in the Innovation Network.Innovation schools are independently run but receive some services from IPS such as transportation, food service, or building space. While many innovation schools are charter schools, some are not. Those schools rely more heavily on IPS for student services such as special education and English learner support. The changes are all for one year, as contracts for Cold Spring, Global Prep, and Monarca are all up for renewal this year, according to Ricky Ritter, IPS director of innovation schools. IPS superintendent Aleesia Johnson told the board that she expects more clarity around the district’s future and finances ahead of the renewal votes. Here’s an overview of the changes. Cold Spring School will become a charter schoolCold Spring School, which serves grades K-8, is an innovation school that wants to become a charter innovation school. Last year, the IPS school board rejected that request, saying the city’s education policy landscape was in flux.This year, the board approved an amendment to Cold Spring’s innovation school contract that allows it to be a charter school.Cold Spring Chief Operating Officer Cody Stipes told the school board that becoming a charter school would allow the school to access about $1.8 million more in state funding along with opportunities for federal and grant funds. The school can expand programming and academic offerings with the added money.With the change, Cold Spring will contract with IPS for custodial and food services, while IPS would continue to provide transportation and the school building. As a charter school, Cold Spring will take over services for students with disabilities and English language learners from IPS, saving the district more than $800,000, per Stipes.Global Prep Academy splits into 2 campusesGlobal Prep Academy is expanding from one building to two to free up space at its current location at Riverside School 44. The existing campus will serve students through fifth grade, while a new location, Global Prep at the Monon, will serve grades 6-8.The IPS board approved a one-year innovation school contract for the new school and amended its contract with Global Prep at school 44 to reflect the grades served at that location. Global Prep owns the new building and will manage IT, custodial services, and food services. IPS will provide transportation for the schools. IPS will also save more than $96,000 a year by removing a modular classroom from school 44. Monarca Academy adds high schoolMonarca Academy, which is co-located at Northwest Middle School, is splitting into a middle school and a high school but remaining in the same building. The IPS board approved a one-year innovation school contract for Monarca Academy High School and amended the existing contract for Monarca’s middle school to reflect the grade changes. IPS will continue to provide custodial services, food service, transportation, and building space for both schools.MJ Slaby oversees Chalkbeat Indiana’s coverage as bureau chief. Contact MJ at mslaby@chalkbeat.org.