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EDC reviews finances as sales tax dips; board approves payables and hears FY27 scenarios
Summary
EDC staff reported a year‑over‑year sales‑tax remittance decline of 8.77% for the period cited, the board approved payables of $18,682.34, and staff outlined FY27 budget projections showing scenarios with average CIP spending and a model with a $3 million upfront project.
Staff and finance staff briefed the Fulshear EDC on current revenues and budget planning during the March 9 meeting, reporting a dip in recent sales tax remittances and presenting two models for FY27 that show how major projects could affect fund balance.
Hayden (S7) reported the February remittances (December remittance) were down 8.77% from the same period the previous year, totaling $252,539.19, and told the board the corporation’s revenues…
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