The Fulshear Development Corporation on Nov. 10 reviewed financials and approved payables for the period ending Sept. 30 while hearing a report that sales tax revenues are running ahead of budget.

Why it matters: Sales tax is a primary revenue source for many local projects. The board's financial posture influences funding for capital projects and programs.

Finance staff (Speaker 5) reported November sales tax revenues (for September remittances) were up 1.7%, totaling $2,227,785.35; the corporation's year-to-date revenues were reported as $2,248,879.23 (about 110% of budget) and FY25 receipts were up 14.6% compared with FY24. Board members asked staff to prepare a 10-year actualized graph and a breakdown by number and type of businesses (mom-and-pop vs. chains); staff agreed to provide that at the next meeting.

On payables, a motion to approve payables pursuant to the Administrative Services Agreement was moved and seconded; the chair called the vote and the board responded 'Aye,' after which the chair announced the motion passes.

Separately, staff reported the Fulshear Police Department invited an A board member to join its five-year salary and budget committee; Miss Kaye accepted and the committee's next meeting is Nov. 18.

Next steps: Staff will send the Retail Strategies quarterly report to board members, provide the requested 10-year graph and the waterfall funding chart showing the projects fund balance and committed allocations.