Parkway presents Prop S construction and finance update; $133M cash on hand, major projects ongoing
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Summary
CFO and the CMAR Putker updated the board on Prop S bond finances and construction: voters approved $265M; presenters reported roughly $292–293M available after premiums/interest, $81M spent, $133M cash on hand, and multiple GMP contracts underway with significant summer 2026 project work planned.
District finance and construction staff gave a Prop S program update on Nov. 12 outlining finances, completed work and upcoming projects.
Carrie Nunn, the district CFO, said voters originally approved $265,000,000 for Prop S bonds and that bond premiums and interest increased the program funds to roughly $292–293 million. She said $81,000,000 has been spent to date and that the district’s current cash on hand for bond proceeds is $133,000,000; she also noted $75,000,000 of the authorized bond issuance remains to be sold. Nunn emphasized that Prop S funds are restricted for capital projects and cannot be used for operating expenses such as salaries and benefits.
The district’s CMAR, Putker Construction, summarized completed work (Renovations and additions at Riverbend; Craig Elementary site work and interior remodel; Northeast Middle utilities and choir/restroom upgrades; Central High servery, teacher lounge, roofing; North High natatorium, bleachers and locker rooms; district ops and transportation upgrades) and provided timelines for major projects. Program managers reported that 19 GMPs are in place, 22 buildings have been under contract, two additional GMPs are in process for three more buildings, and 11 GMPs remain; the presentation listed $117 million in bond allocations to the 19 projects under contract with $96 million awarded and approximately an 18% contingency figure on that allocation.
Program leads identified upcoming work for next summer, including multiple elementary schools and final phases at several high schools; North High infill and Central High major work were projected into 2026–2027.
The presenters used varied spellings when naming the CMAR during the presentation (transcript uses "Putker," "Pucker," and "Putkar"). The board’s planning and facilities staff and Putker representatives said they will provide additional detail and a full list of projects on request.
Note on a transcript inconsistency: one spoken phrase in the presentation described fees paid for bond sales and title companies as "just over a billion dollars," which appears inconsistent with the other financial totals presented; the district did not corroborate that specific phrasing during the meeting. The district offered to provide the full county report and supporting documents for public review.