Page 199 - CITY OF AZLE, TEXAS

CITY OF AZLE
HOTEL/MOTEL TAX FUND
FY 2022-23

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

2018-19 2019-20 2020-21 2021-22 2021-22 2022-23 2022-23 2022-23
Actual Actual Actual Budget Estimated Proposed CM Rec'd Approved

Beginning Balance 167,262 195,961 222,470 249,866 249,866 275,216 275,216 275,216

Plus: Fund Revenue
Occupancy Taxes 27,664 25,474 27,121 24,000 25,000 25,000 25,000 25,000
Interest 1,035 1,034 275 250 350 350 350 350
Total Resources Available 195,961 222,470 249,866 274,116 275,216 300,566 300,566 300,566
Less: Fund Expenditures
Promotion of Tourism - - - - - - - -
Total Fund Expenditures - - - - - - - -

Fund Balance 195,961 222,470 249,866 274,116 275,216 300,566 300,566 300,566

City of Azle FY 2022-2023 Budget 188