Washoe County School District approves $58 million bond, $152.2 million capital program and amended FY26 budget

The Washoe County School District Board of Trustees on June 24 voted unanimously to authorize the issuance of up to $58,000,000 in general obligation, limited-tax school improvement "rollover" bonds, approve the district's amended final budget for fiscal year 2025'26 and authorize $152,200,000 in construction-phase funding for major projects across the district.

Those items will fund the district's FY26 annual capital renewal program, allow staff to encumber contracts ahead of a bond sale, and pay construction costs for two elementary school projects the board recommended through the Capital Funding Protection Committee.

CFO Mark Mathers said the measure would allow the district to "go to market to sell rollover bonds either this fall or winter" and that the $58 million represents the last allocation available under the district's current authorization from the County Debt Management Commission. He described rollover bonds as property-tax-backed debt paid from the district's property tax levy and noted the district currently has more than $80,000,000 in reserves. Mathers said approving the resolution now also allows the district to encumber contracts this summer so work can begin before bond proceeds are sold.

Board approval of the amended FY2025'26 budget followed a multi-month budget process. Budget Director Jeff Bozzo told trustees the district reduced an initial roughly $9.7 million shortfall to about $2.1 million through a combination of measures and that the budgeted fund…