diff --git a/src/server/routers/project.ts b/src/server/routers/project.ts
index c092deb..d6c8c40 100644
--- a/src/server/routers/project.ts
+++ b/src/server/routers/project.ts
@@ -165,28 +165,40 @@ export const projectRouter = router({
           },
         }),
         ctx.prisma.project.count({ where }),
-        // Count distinct projects per state (avoids double-counting projects that passed multiple rounds)
+        // Count projects by their LATEST round state (highest sortOrder round).
+        // This avoids inflated counts where a project that passed round 1
+        // but was rejected in round 2 shows up in both PASSED and REJECTED.
         (async () => {
-          const stateFilter = where.programId ? { project: { programId: where.programId as string } } : {}
-          const states = ['PENDING', 'IN_PROGRESS', 'PASSED', 'REJECTED', 'COMPLETED', 'WITHDRAWN'] as const
-          const counts = await Promise.all(
-            states.map(async (state) => ({
-              state,
-              count: await ctx.prisma.projectRoundState.findMany({
-                where: { ...stateFilter, state },
-                select: { projectId: true },
-                distinct: ['projectId'],
-              }).then((rows) => rows.length),
-            }))
-          )
-          return counts
+          const stateFilter: Record<string, unknown> = {}
+          if (where.programId) stateFilter.project = { programId: where.programId as string }
+
+          const allStates = await ctx.prisma.projectRoundState.findMany({
+            where: stateFilter,
+            select: { projectId: true, state: true, round: { select: { sortOrder: true } } },
+            orderBy: { round: { sortOrder: 'desc' } },
+          })
+
+          // Pick the latest round state per project
+          const latestByProject = new Map<string, string>()
+          for (const s of allStates) {
+            if (!latestByProject.has(s.projectId)) {
+              latestByProject.set(s.projectId, s.state)
+            }
+          }
+
+          // Aggregate counts
+          const countMap = new Map<string, number>()
+          for (const state of latestByProject.values()) {
+            countMap.set(state, (countMap.get(state) ?? 0) + 1)
+          }
+          return countMap
         })(),
       ])
 
-      // Build round-state counts (distinct projects per state)
+      // Build round-state counts from the latest-state map
       const statusCounts: Record<string, number> = {}
-      for (const g of roundStateCounts) {
-        statusCounts[g.state] = g.count
+      for (const [state, count] of roundStateCounts) {
+        statusCounts[state] = count
       }
 
       const projectsWithLogos = await attachProjectLogoUrls(projects)