Page 200 - Azle City Budget 2019

CITY OF AZLE
HOTEL/MOTEL TAX FUND
FY 2018-19

The Hotel/Motel Tax Fund was established by City Ordinance in 1994 under the authority of Chapter
351 of the Texas Tax Code. Revenues are collected from a seven percent tax levied upon the cost of
occupancy of any room or space furnished by a hotel where the cost of occupancy is at the rate of
$2.00 or more per day. This tax is in addition to other occupancy taxes imposed by other government
agencies. However, no taxes were collected in this fund until July 2005 when the first hotel opened in
the City of Azle. The purpose of the tax is to benefit tourism and the hotel industry within the City.

The fund is accounted for on a modified accrual basis of accounting. Revenues are recorded when
available and measurable. Expenditures are recorded when the liability is incurred.

Hotel/Motel Tax Fund Summary

2014-15 2015-16 2016-17 2017-18 2017-18 2018-19 2018-19 2018-19
Actual Actual Actual Budget Estimated Proposed CM Rec'd Approved

Beginning Balance 93,429 104,932 113,271 135,680 135,680 157,580 157,580 157,580
Plus: Fund Revenue
Occupancy Taxes 12,844 9,729 22,102 15,000 22,000 22,000 22,000 22,000

Interest 93 147 307 400 500 500 500 500
Total Resources Available 106,366 114,808 135,680 151,080 158,180 180,080 180,080 180,080
Less: Fund Expenditures
Promotion of Tourism 1,434 1,537 - 600 600 - - -
Total Fund Expenditures 1,434 1,537 - 600 600 - - -

Fund Balance 104,932 113,271 135,680 150,480 157,580 180,080 180,080 180,080

City of Azle 2018-2019 Budget 188