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Fulshear EDC approves minutes, pays $16,224.47 and outlines budget timeline
Summary
The Fulshear Economic Development Corporation unanimously approved two sets of minutes, approved a $16,224.47 payable to the city, reviewed sales tax remittance declines and set expectations for May–July budget review and public hearings, with staff to return with midyear budget reports and draft FY27 materials.
The Fulshear Economic Development Corporation on April 13 unanimously approved draft minutes from its March 9 and March 30 meetings and approved a payable to the city in the amount of $16,224.47.
At the start of the meeting staff presented sales tax remittance figures and cash-position data. "They were down 12% from the same period the previous year, totaling $164,107.45," a staff member said when describing March remittances (noting those were January remittances reported in March). Staff also reported cumulative EDC revenues in packet figures and said the EDC had recorded $930,798.10, about 39.6% of the budget year complete, and board members asked staff to provide a clearer waterfall-style breakdown showing total funds, encumbrances and net available balance.
Staff outlined the upcoming budget calendar: midyear budget reports and the ASA will be presented in May for board review, a draft FY26 budget and draft ASA will be returned in June for edits, and the final budget is expected for board/council approval in July. The staff report also included the ICSC Red River market summary for retail prospects (staff warned redactions reflect retailers' requests) and a reminder that board and commission reappointment applications are due April 17.
An executive session to discuss the purchase/exchange/lease/value of EDC-owned real property on FM 1093 in Fulshear was held under the Texas Open Meetings Act; the board returned from executive session and the chair said no action resulted from that closed session. The meeting adjourned at 7:34 p.m.
