Weatherford Democrat

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February 3, 2013

City officials say early revenues on target

(Continued)

Through the end of December, the city had received less than one percent of its expected $555,450 in hotel/motel tax revenue but had already spent about 65 percent of the money. Costs accrued generally happen in the first quarter of the year while revenues tend to play catchup throughout the fiscal year.

HOT collections grew in the last fiscal year and are expected to do so this year as well. State Comptroller reports that October receipts, the last month numbers were available, were up 18 percent from 2011 numbers.

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