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HUDSON CITY SCHOOL DISTRICT
SUMMIT COUNTY, OHIO
FUND DESCRIPTIONS

NONMAJOR GOVERNMENTAL FUNDS (CONTINUED)
CAPITAL PROJECTS FUNDS

The capital projects funds account for the receipts and disbursements of monies used for the acquisition, construction or major renovation of capital
facilities (other than those financed by enterprise funds).

Building - This fund is used to account for the receipts and expenditures involved in the construction and replacement of facilities for the
instruction of students. A portion of the proceeds from the sale of certificates of participation are paid into this fund. Expenditures
recorded here represent the costs of acquiring and improving capital facilities.
Permanent Improvement - The permanent improvement fund may be used for acquiring real estate for school purposes; for constructing,
adding to, remodeling and improving school buildings. Such expenditures shall add permanently to the school land or buildings, or
extend the useful life of existing buildings for five years or more. The fund may also be used for landscaping and making other school
site improvements which have an anticipated useful life of five years or more.

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