Sugar Land 4B board approves FY25 projections amendment, forwards FY26 budget to City Council

The Sugar Land 4B Corporation on Aug. 20 unanimously approved an amendment to its fiscal year 2025 projections and voted to forward a proposed fiscal year 2026 budget to the Sugar Land City Council for final approval.

The action followed a presentation by Staff member Justin Barrado, who said July sales-tax allocations were 16% higher than budgeted and August allocations were 8% higher, producing about $930,000 in additional revenue compared with the original FY25 estimate. Barrado said that higher-than-expected interest income and previously approved board amendments also factored into the revised FY25 outlook.

Board members were shown a financial summary that reflects the board-approved use of fund balance, including a $3.4 million allocation for Lake Point Green and about $3.6 million in additional investments drawn from the reserve for opportunities to support grants and other projects. Barrado said the FY25 projected ending fund balance includes accounting adjustments and an estimated available fund balance of roughly $12 million under one…