By Petra Sucher听

For school districts across the country, summer signals the beginning of the busiest season for capital planning and construction. As students leave campus, crews mobilize to complete renovations, infrastructure improvements and new construction projects, many of which are made possible through voter-approved bond referendums. Understanding where districts are in the funding pipeline 鈥� and where the next opportunities are emerging 鈥� has become increasingly important for architects, engineers, contractors, manufacturers and service providers looking to support K-12 capital programs. By tracking bond activity from the earliest planning stages through election outcomes, SchoolBondFinder provides a real-time view of how districts are prioritizing facility investments and where the market is headed.听听

SchoolBondFinder听specializes in tracking K-12 capital project bonds across the nation.听The听platform monitors school district bond initiatives across key stages, providing stakeholders with crucial data on project scope, financing, and voter outcomes.听

• Watch List:听Districts may be added to this list following initial activities such as a facilities study, demographic study, capital improvement plans review or a feasibility survey.听
• Proposed List: A bond is moved to this list once a school board officially approves a referendum for a vote. At this point, the vote date, official ballot language, use and amount are finalized.听
• Passed/Failed List:听Updates on school bond referendum votes 鈥� both passed听and听failed 鈥� are typically available on the platform within 24 to 72 hours of the official results being released.听

Quarter 2 (April 1-June 30):听

For the second quarter,听$22.6 billion in referendums have been approved as of听June 15. There are currently听10听voting opportunities听remaining听through the end of June, with an estimated value of听$632 Million. To date, June elections have passed听25听bonds and听13听have听failed, resulting in a听52%听pass rate. Currently there is听a strong听support and focus on bonds that address physical facility needs and safety upgrades.

One pattern emerging is that school districts are combining physical infrastructure and safety upgrades into single, comprehensive bond packages rather than funding them separately. Approximately 47%听of passed bonds for Q2 focused on听allocated funds for safety and security upgrades. Examples of safety and security enhancements听are听installing secure entrances, security cameras and alarm systems.听听

听Top 3 States for Q2 Bond Measures:听

1. Texas: $11 billion across 92 measures听
2. Georgia: $1 billion across 13 measures听
3. Michigan: $1 billion across 33 measures听

The Start of the Fiscal Year

The K-12 education funding cycle begins on July 1 and concludes on June 30 for 46 states. This period serves as “go time” for school districts, as they activate new funding streams, issue bonds and authorize summer capital construction projects. The end of the school year provides an ideal window for infrastructure work, such as roof replacements and HVAC upgrades, to begin.听

The timing is critical because many local school boards submit architectural plans to state education agencies before the July 1 deadline to secure early approval for both plans and funding. To effectively capture capital projects and bond opportunities, education companies must prioritize early engagement with school boards and districts before the new fiscal year begins. It is critical for firms to establish themselves as a trusted, value-add partner and to ensure their offerings align with specific district needs.听

Upcoming Elections and Events

Currently SchoolBondFinder is tracking $50 billion in opportunities for 2026, with many watchlist items with no funds attached yet. August elections are around the corner with 28听bonds on the proposed list. These elections will primarily take place in Oklahoma and Michigan. 听

On Aug. 5, SchoolBondFinder will be in Denver presenting at the 糖心少女 Design & Construction Symposium. Experts will be talking about 2026 State of School Tax Elections: Outcomes & Outlooks. This informative session will review the current K-12 school referendum landscape in the U.S., including total funding and approved opportunities, trends in capital projects and spending, and forecasts for the rest of 2026 into 2027. Register today.

With nearly $50 billion in tracked opportunities already on the horizon for 2026鈥攁nd many additional projects still in the planning stages before funding amounts are determined 鈥� the K-12 capital market continues to present significant opportunities for industry partners. For firms serving the education sector, success depends not only on monitoring election results but on understanding where districts are in the planning process and engaging well before projects reach the construction phase. As the new fiscal year begins and districts move from planning to procurement, those that establish themselves as trusted resources early will be best positioned to support the next generation of school facilities. SchoolBondFinder will continue to monitor these trends throughout the year, providing timely data and insights into the evolving landscape of school funding, capital investment and construction nationwide.听

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HILLSBORO, Ore. 鈥� At its regular session meeting on Tuesday, May 26, Hillsboro School Board members voted unanimously to place the Hillsboro School District鈥檚 (HSD) $430 capital construction bond on the November 2026 ballot.

The approved bond program听contains听projects for every school and district building across six broad project areas: buildings and systems, safety and security, Career and College Pathways, Extracurriculars, technology and cybersecurity, and support services.听

If successful in November, the bond would allow HSD to address aging infrastructure like roofs and HVAC systems, modernize educational settings that engage and prepare students, improve and expand extracurricular spaces like lighted turf fields for year-round student and community use, and enhance safety and security districtwide, among many other priorities.听听

Capital construction bonds like this one are the only mechanism school districts have for making significant investments in systems and structures. The State School Fund dollars听allocated听to districts each year are听really only听meant to fund daily operations (primarily staff-related costs) and incidental maintenance and repairs.听

By the fall of 2026, taxpayers will have paid off some of HSD鈥檚听previous听bonds. This creates an opportunity to fill in the gap with a new bond to generate capital investment money for district projects, while keeping the current tax rate consistent. HSD estimates a repayment rate of听approximately $1.84听per $1000 of assessed property value, which is 18 cents per thousand less than the听average of听rates paid since the passage of the district鈥檚听previous听bond in 2017.听听

Wherever possible, the district will seek opportunities to听leverage听partnerships, incentives, and grants to maximize our bond dollars and make them go further, highlighting HSD鈥檚 commitment to good stewardship of the community鈥檚 investment.听

In a 2019 bond,听the district invested heavily in safety and security upgrades at all schools, including听Seismic and roofing upgrades, Playground听upgrades听and Parent/bus drop-off improvements. The bond also supported extensive renovation and repair efforts at the district鈥檚 aging schools, focused on听HVAC,听plumbing听and electrical upgrades; remodeling projects; and the replacement of 15 temporary portable classrooms. Efforts to relieve crowded classrooms and plan for growth included the construction of separate gymnasiums at elementary schools that currently share gym and cafeteria space听as well as the expansion of Evergreen Middle School and Glencoe High School听and the construction of one new elementary school in North Plains, one new elementary school in South Hillsboro, and replacement of Brookwood Elementary School. The bond also extended to听new technology, flexible classroom听furniture听and the expansion of career and technical education spaces at all听district听high schools.听听

The district has implemented an听听of all proposed projects.听

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By Petra听Sucher听

SchoolBondFinder听specializes in tracking K-12 capital project bonds across the nation. The platform monitors school district bond initiatives across key stages, providing stakeholders with crucial data on project scope, financing, and voter outcomes. In March,听SchoolBondFinder听shared first-quarter updates and referendum insights for the 2025 and听2026 election听cycles.听

The research team is actively updating听the platform with the latest election results with a 鈥渂oots on the ground鈥� approach. Most updates for referendum votes are reflected within 24 to听72 hours听of听passage.听听

Read more for听an in-depth look at April and May results, highlighting essential insights for the 2026 K-12 bond market.听

An Overview of April Elections听

For听April听a majority of elections occurred on April 7.听Approximately听80%听of the bonds (120 out of 150) passed,听whereas听30听failed. The total value for both passed and failed bonds amounts to听$4B.听听Most听districts focused on infrastructure and safety. Missouri and Oklahoma were the most active states this month. Missouri had听64听bonds听and Oklahoma had听39听bonds.听听

Key Districts:听

Wayzata, Minn.听($450,000,000):听

• Scope:听New construction of a听public听elementary听school and a middle school,听as听well听as听classroom and lab additions at the high school,听kitchen听and cafeteria听expansions,听and gymnasium additions.听
• Status:听Passed听

Tulsa, Okla.听($276,000,000):听

• Scope:听Extensive renovations听to an existing public school,听including new classrooms, kitchens, ADA compliance upgrades, HVAC听systems听and roofing across multiple sites.听
• Status:听Passed听

Howard-Suamico, Wis.听(147,000,000)听

• Scope:听New classroom additions and gymnasiums at three elementary schools,听plus Career and Technical Education听labs and听performing-arts听spaces at the high school.听
• Status:听Passed

Dallas Independent School District Passes $6.2 Billion in Bonds 听

On May 2, voters approved听92听of听118听propositions for a passage rate of听78%, which is consistent with national trends. Many Texas school districts had multiple propositions on the ballot. In Texas 10 out of 26 failed, most having to do with athletic propositions.听

Dallas听Independent School District听passed听its听bond package worth听$6.2 billion, the听largest in Texas history.听Proposition A听will fund new construction to replace 26 schools and听expand听existing schools, adding classrooms to听eliminate听portables.听It will also听fund efforts to:听

• Renovate听and modernize every campus across the district听

• Remove the district鈥檚 700 remaining portable classrooms听

• Enhance safety and security at all campuses听

• Upgrade school furniture, student technology, and transportation, including new school buses听

• Improve physical education facilities and repair swimming pools听

The bond package听will be broken up into听four propositions to ensure transparency and flexibility. This bond package will leave a generational mark not just for the funding amount, but for the scope of the听project.听

Movement in Michigan,听Ohio听and Montana听

There were听79听propositions on the ballot for May 5, most in听Michigan, Ohio, and Montana with a mix of bonds and levies. For reference,听a school bond election is a bond issue used by a public school district, typically to finance a building project or other capital project. These measures are placed on the ballot by district school boards to be approved or defeated by the voting public or taxing authority.听A听levy is a short-term, local property tax passed by the voters of a school district that generates revenue for the district to fund programs and services that the state does not fund. Levies are used mostly for operational expenditures.听听

In total,听43听propositions with a value of听$2听billion听passed听on May 5,听whereas听36听propositions worth听$1.6听billion听failed. The number of bonds passed听represents听a passage rate of just 54%, lagging historic national trends.听听

A recent trend听observed听by听SchoolBondFinder听researchers this year involves districts requesting earned income tax levies to fund construction projects,听either by itself or combined with another funding source like a bond.听Researchers听typically see this for operating levies, but districts in the State of Ohio asking for this to accommodate their construction needs is new.听Districts may听attempt听to attract older voters by听utilizing听earned income tax levies, as these measures do not听impact听that demographic in the same way increasing property taxes do.听There were three earned income tax levies on the ballot this month in听Ohio听and all three failed.听

Other May Bond Decisions听

Voters considered听16听total propositions during this election cycle, resulting in听six听passing and听10听failing.听Bonds were approved in Mississippi, Massachusetts, Nebraska (2 districts),听Minnesota听and West Virginia. With most of the propositions focused on new construction.听

• Passed Amount: Totaling $498,285,000听
• Failed Amount: Totaling $342,648,950听

There听were听a total of听127听propositions that went to vote听on May 19. Of those,听113听passed for听a passage rate of听88%. The majority of those on the ballot occurred in New York.听A total of听94听bonds听passed, totaling over听$1听billion听in New York.听

Factors Influencing District Priority Shifts听

In addition to the well-known challenges of declining enrollment and district operational difficulties, several other factors are at play听school consolidations,听expiration听of Cares Act funding, voter resistance to specific measures听and a听downward trend in birth rates.听These changes suggest districts may be pivoting priorities to better serve local needs and moving away from projects fueled by federal programs.听听

Key Focus Areas for Passed Bonds听

Despite these challenges, passed bonds are still showing听strong support听for key focus areas, such as specialty areas,听HVAC systems, athletic facilities, instructional spaces, and electrical听and听lighting upgrades.

SchoolBondFinder听is听currently tracking roughly听$49听billion听of opportunities, with many of听the organization鈥檚听Watchlist items having no money attached yet.听Researchers听are tracking听more than听1,726听bonds as of May 22.听Elections听in June and August are around the corner and will be featured alongside听the听2026 Q2 updates and researcher insights听this summer.

Petra Sucher is the Marketing Engagement & Analytics Manager for .

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• Southbury and Middlebury voters backed Region 15鈥檚 $95.6 million 2026-27 operating budget at the May 6 referendum, according to posted unofficial results.听
• Voters also approved $224 million in bonding to replace听Gainfield听and Pomperaug elementary schools; the bond question passed overall even though Middlebury voters opposed it locally.听
• District materials say the plan is to build new PK鈥�5 schools on the existing sites, keep students in their current buildings until the replacements are ready, and add dedicated preschool space while upgrading safety,听accessibility听and traffic circulation.听

SOUTHBURY, MIDDLEBURY, Conn. 鈥� Voters in Southbury and Middlebury approved Region 15鈥檚 $95.6 million operating budget for fiscal 2026-27 and authorized $224 million in school construction bonding to replace the district鈥檚 two oldest elementary buildings, according to referendum results released after the May 6 vote.听听

The bond would support replacement buildings for听Gainfield听Elementary School and Pomperaug Elementary School, with the district planning to pursue state school construction grants that could significantly reduce the local share of eligible project costs.听

Unofficial results posted by the Town of Southbury show the Region 15 school budget passed 2,679-1,618 overall (Southbury: 2,048-1,059; Middlebury: 631-559). The construction financing question passed 2,474-1,820 overall, with Southbury approving 1,935-1,172 and Middlebury voting against the question 539-648, according to听.听

The Stamford Advocate reported the adopted budget totals $95.6 million, a $4.86 million (5.4%) increase over the current $90.78 million plan. The same report said the $224 million bond package would fund replacement schools on each existing site, with plans calling for larger buildings designed to serve about 550 students per school and include prekindergarten space, according to听.听

District project materials describe听Gainfield鈥檚听original sections as dating to 1941 and Pomperaug opening in 1967, noting both facilities have aging infrastructure and systems nearing the end of their useful life. 鈥渕any听of our systems and spaces are significantly aged, flawed, functioning unreliably, or听become听obsolete,鈥� according to听.听

Region 15鈥檚 facilities materials say new construction 鈥� rather than renovation 鈥� was selected after feasibility work evaluated both approaches. The FAQ says early estimates compared roughly $80 million for renovation to about $86 million for new construction, but renovation would add significant costs and complications, including temporary swing space estimated at about $12 million and a longer timeline that could increase escalation costs, according to .听听

On design and operations, the district says replacement buildings would address code and safety upgrades that older schools are exempt from because of their听age, and听improve circulation and traffic safety. The 鈥淜ey Project 糖心少女鈥� page says the new layouts would funnel visitors from the main entrance to the front office for screening and bring the schools up to current fire and energy codes (including sprinklers and updated HVAC), while expanding parking and dedicated bus lanes, according to听.听

Project scope materials also cite improved traffic circulation at both campuses, including altered traffic patterns and a new access road intended to reduce congestion near Main Street and Poverty Road in Southbury. Region 15 further says the proposal is designed to keep schools听operating听throughout construction by allowing the district to occupy the existing buildings until the new schools are complete and ready for occupancy, according to听.听

Programming elements highlighted by the district include adding dedicated preschool classrooms and replacing makeshift instructional spaces (such as interventions held in closets or hallways) with purpose-built rooms and small-group areas, according to听.听

In its March 30 Board of Education newsletter, Region 15 said it sought voter approval in May to听submit听a school construction grant application by the state鈥檚 June 30 deadline. The newsletter also estimated total construction costs at about $224 million and听anticipated听roughly 64.2%听reimbursement of eligible costs under current assumptions, with a projected $80 million to $90 million local borrowing need, according to听.听

Before the May 6 vote, Region 15 said the Connecticut General Assembly approved a space waiver intended to support the district鈥檚 eligibility for its expected reimbursement rate while allowing some flexibility in shared spaces. 鈥淭his legislation allows us to thoughtfully plan school spaces that meet student needs while also providing areas that can serve the wider community,鈥� according to听.听

As the district moves toward a state funding application, Superintendent Joshua Smith described near-term steps, including governance and procurement work. 鈥淲e will also begin the work of identifying building committees, grant application approvals and releasing a request for project proposals that will select an architectural firm for the design phase of the project,鈥� according to听.听

The Stamford Advocate reported Smith hopes construction will begin in 2028 and that the new schools could be completed by 2030, subject to听state听grant approvals and other preconstruction steps, according to听.听

This article is based on reporting originally published by the Stamford Advocate, official materials posted by the Town of Southbury and Pomperaug Regional School District 15, and Region 15鈥檚 facilities project website in 2026. ()听

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By Lindsey Coulter

BUFFALO GROVE, Ill. 鈥� Aptakisic-Tripp School District 102 in Buffalo Grove, Ill., recently celebrated the ribbon cutting of a new gymnasium and interior renovations at Aptakisic Junior High School. The improvements were funded by a portion of a $49 million community-approved referendum and designed by Wold Architects & Engineers in collaboration with school district representatives and the Buffalo Grove Park District.

“The success of this referendum reflects our community鈥檚 strong belief in supporting the district and investing in future generations of students,鈥� said Dr. Jessica McIntyre, superintendent of Aptakisic-Tripp CCSD 102, in a statement.

Approved by voters in 2023, the referendum is a significant investment in Aptakisic-Tripp School District鈥檚 future and has already supported a new nine-classroom science wing, energy-efficient upgrades across multiple schools and enhanced security systems. The junior high gymnasium addition is built to accommodate a growing student population, improve student drop-off safety and create a more accessible community space.

鈥淭his project will enhance students鈥� experiences at school while creating opportunities for the greater Buffalo Grove community to use brand new gym spaces,鈥� said Mike Eichhorn, education practice leader at Wold Architects & Engineers, in a statement. 鈥淔rom enhanced technology to expanded courts, the gym鈥檚 design offers more for students and visitors to enjoy. Every detail was designed with learning, wellness and connection in mind.”

The new gym features two full-sized courts, modern locker rooms and a relocated fitness room that centralizes the physical education wing. Students were directly involved in the process by voting on the gym’s colors and bleacher design, while coaches, staff and government officials helped guide design decisions that could keep students safe and the greater community accessible. In addition to supporting athletics and daily instruction, the gym is lined for basketball, volleyball and three official pickleball courts, allowing the park district to host community programs in the evenings and on weekends.

“The new, collaboratively designed gymnasium is a wonderful example of community partnership that creates a space for students and our community to come together. At the same time, the other components of the referendum focus on ensuring the longevity, safety and energy efficiency of our buildings,鈥� Dr. McIntyre said. 鈥淭ogether, these investments strengthen our schools today and for years to come. We鈥檙e incredibly proud of what we鈥檝e accomplished together and deeply grateful for the community support that made it possible.”

Aptakisic-Tripp School District is a high-achieving public school district covering seven square miles in Lake County, Ill., and serving a diverse population of approximately 2,600 students with more than 60 languages across four schools. Beyond this project, District 102 continues to modernize aging infrastructure at its schools, including updated mechanical systems, LED lighting to reduce energy use and enhanced security measures such as controlled access points and reconfigured entrances. The final referendum construction projects are expected to be completed by summer 2026 at Meridian School.

Project partners included Wold Architects & Engineers, Nicholas & Associates and ARCON Associates.

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