Fulshear Development Corporation adopts FY‑26 budget, approves ASA and project declarations; removes two projects pending legal review

The City of Fulshear Development Corporation (EDC A) adopted its fiscal year 2026 budget and approved the administrative services agreement framework at its July 14 regular meeting, and the board voted to revise the draft project declarations by removing the Texas Heritage Parkway interlocal agreement payment and a $50,000 community‑events project pending legal review.

Board members approved the ASA language and the budget as amended after discussion about how the ASA exhibit will be finalized once the city completes budget work. Staff presented sales‑tax and ASA details in the packet; the board approved motions to adopt the FY‑26 documents and to publish notice and set a public hearing for declared projects.

Why it matters: the actions set how the EDC will reimburse the city for shared services, how much the corporation is budgeting to spend or set aside for programs and projects, and which projects will be publicly noticed for comment. Several line items discussed — including the shared ASA reimbursement, targeted small‑business incentives, and transfers to project funds — determine the EDC’s near‑term capacity to fund infrastructure and economic development activities.

Key votes and motions - Election of officers: the board approved a slate electing Brian White as president, Kaye Kollek as vice president, Bonnie Tyler Buell as secretary and Carlos Wallace as treasurer; the slate was adopted unanimously. - Payment authorization: the board approved a payable for ASA services in the amount of $9,486.60. - ASA adoption: the board approved the FY‑26 administrative services agreement (the ASA language and percentages presented in the packet), noting that Exhibit A (the detailed numeric schedule) will be finalized after council action on the budget. - FY‑26 budget: the board adopted the FY‑26 budgets for the 600 and 601 funds as amended (travel/training increased from $15,000 to $20,000). - Project declaration resolution (CDC Resolution 2025‑05): the board approved the resolution declaring projects for FY‑26 but moved and passed an amendment removing the Texas Heritage Parkway ILA ($91,667) and the $50,000 community events project from the published declaration pending legal review.

Numbers and budget context Staff reported sales‑tax remittances in recent months were higher than the prior year: June remittances (for April activity) were up 10.05%, reported in the packet as $1,156,284.01 for the period and $1,283,953.58 total for each corporation in the packet snapshot. July collections (for May remittances) were reported as $170,145.41, bringing sales‑tax receipts to $1,454,098.99 (71.5% of budget for 67% of the year), per staff presentation.

Staff and board walked through ASA and shared‑service accounting: the combined ASA reimbursement, shared‑space fee and ASA shared‑service total shown in the packet was approximately $305,861; total adopted budgeted expenditures across the 600 account were shown in materials as roughly $988,005.49. For planning, staff said the corporation is budgeting $2,300,000 in sales/use tax revenue for FY‑26 (10% rule basis of forecasted collections). Board members and staff emphasized that dollar figures in the packet can change during the city’s final budget actions and that budget amendments are available later in the fiscal year.

How the ASA will be finalized Board members questioned why Exhibit A (the numeric exhibit) was not attached to the draft ASA before the vote. Staff explained that Exhibit A will reflect the adopted budget and personnel percentages and will be included after council completes its budget actions; the board moved and approved the ASA framework as presented (percentages and the agreement language) to avoid delaying the administrative services relationship while numbers are finalized.

Next steps and public notice Staff will publish notice of the declared projects and schedule the public hearing required by the resolution. The two items removed from the public declaration — the Texas Heritage Parkway ILA contribution and the community events line — will be reviewed by legal to determine whether they may be excluded from the published declaration; the board’s motion directed staff to proceed with that review.

Ending note: board members emphasized that city council retains statutory authority for some decisions and that, if additional funds or changes are needed later in the year, staff can return with budget amendments or request council action.