Page 199 - CITY OF AZLE, TEXAS

CITY OF AZLE
HOTEL/MOTEL TAX FUND
FY 2024-25

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

Actual Actual Actual Budget Estimated Proposed CM Rec'd Approved
2020-21 2021-22 2022-23 2023-24 2023-24 2024-25 2024-25 2024-25

Beginning Balance 222,469 249,865 280,001 320,412 320,412 357,412 357,412 357,412

Plus: Fund Revenue
Occupancy Taxes 27,121 29,500 29,167 18,000 24,000 24,000 24,000 24,000
Interest 275 636 11,244 7,000 13,000 11,500 11,500 11,500
Total Resources Available 249,865 280,001 320,412 345,412 357,412 392,912 392,912 392,912
Less: Fund Expenditures
Promotion of Tourism - - - - - - - -
Total Fund Expenditures - - - - - - - -

Fund Balance 249,865 280,001 320,412 345,412 357,412 392,912 392,912 392,912

City of Azle FY 2024-2025 Budget 188