Page 199 - CITY OF AZLE, TEXAS

CITY OF AZLE
HOTEL/MOTEL TAX FUND
FY 2023-24

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

2019-20 2020-21 2021-22 2022-23 2022-23 2023-24 2023-24 2023-24
Actual Actual Actual Budget Estimated Proposed CM Rec'd Approved

Beginning Balance 195,961 222,469 249,866 280,001 280,001 306,001 306,001 306,001

Plus: Fund Revenue
Occupancy Taxes 25,474 27,121 29,500 25,000 18,000 18,000 18,000 18,000
Interest 1,034 275 636 350 8,000 7,000 7,000 7,000
Total Resources Available 222,469 249,866 280,001 305,351 306,001 331,001 331,001 331,001
Less: Fund Expenditures
Promotion of Tourism - - - - - - - -
Total Fund Expenditures - - - - - - - -

Fund Balance 222,469 249,866 280,001 305,351 306,001 331,001 331,001 331,001

City of Azle FY 2023-2024 Budget 188