Finance Board finalizes budget adjustments for FY 2025 and FY 2026

The Fulshear Economic Development Corporation convened on July 14, 2025, to discuss budget adjustments and upcoming events aimed at enhancing the city’s economic landscape. The meeting focused on financial planning for the fiscal year 2026 and the allocation of resources for various initiatives.

The first significant topic addressed was the budget for attending industry events. A proposal was made to increase the budget to $20,000, which would cover participation in several key events, including the International Council of Shopping Centers (ICSC) in Las Vegas and Retail Live in Austin. The board discussed the importance of these events for networking and economic development, emphasizing that while Austin is only a couple of hours away, they preferred to ensure overnight accommodations for attendees to avoid long working hours.

Following the discussion on event budgets, the board moved on to financial estimates for the upcoming fiscal year. The finance team projected a collection of approximately $2.1 million for FY '25, with a conservative budget of $2.3 million set for FY '26. The board acknowledged the need for flexibility in the budget, agreeing to adjust as necessary based on actual collections.

Additionally, the board reviewed administrative professional services, noting a reduction in legal fees by $25,000 due to the efficiency of their legal team. This adjustment was made in light of previous discussions about potentially splitting the board, which would have increased legal needs.

In conclusion, the meeting highlighted the board's commitment to strategic financial planning and resource allocation to support Fulshear's economic growth. The next steps include finalizing the budget adjustments and preparing for the upcoming events that will foster business development in the community.