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HUDSON CITY SCHOOL DISTRICT
SUMMIT COUNTY, OHIO
MANAGEMENT’S DISCUSSION AND ANALYSIS
FOR THE FISCAL YEAR ENDED JUNE 30, 2016
(UNAUDITED)
Business-Type Activities
Business-type activities include the District’s community education program which had operating revenues of $1,415,488
and operating expenses of $1,366,536 for fiscal year 2016. Both operating revenues (3.33%) and operating expenses
(3.89%) increased compared to the prior year, and the program reported operating income of $48,952. Nonoperating
revenues consisted of $48,212 in grants. The change in net position for the fiscal year was an increase of $97,164.
These operations are self-supporting through user fees and charges. Management assesses its performance to ensure that
they are run efficiently.
The District’s Funds
The District’s governmental funds reported a combined fund balance of $33,531,109, which is $4,953,660 or 17.33%
higher than last year’s total. The schedule below indicates the fund balance as of June 30, 2016 and 2015, and the total
change in fund balance.
General fund Fund Balance Fund Balance Increase
Nonmajor governmental funds June 30, 2016 June 30, 2015 (Decrease)
$ 31,589,192 $ 26,056,464 $ 5,532,728
1,941,917 2,520,985 (579,068)
Total $ 33,531,109 $ 28,577,449 $ 4,953,660
General Fund
Fund balance for the general fund increased $5,532,728. As a measure of the general fund’s liquidity, it is useful to
compare both unassigned fund balance and total fund balance to total fund expenditures. Unassigned fund balance
represents 54.33% of total general fund expenditures, while total fund balance represents 56.09% of that same amount.
The following table assists in illustrating the revenues of the general fund.
Revenues 2016 2015 Percentage
Property taxes Amount Amount Change
Payments in lieu of taxes
Tuition $ 42,139,812 $ 43,333,058 (2.75) %
Interest earnings 472,588 484,788 (2.52) %
Intergovernmental 792,968 641,669 23.58 %
Other revenues 138,708 37,808 266.87 %
(1.24) %
17,693,378 17,914,851 7.85 %
1,161,906 1,077,323
Total $ 62,399,360 $ 63,489,497 (1.72) %
The overall decrease in revenues is mostly due to the decreased property taxes revenue. The primary reason for this is
fluctuations in the amount of tax advances available at year-end, as discussed on page F 10. For the general fund, the
amount of tax advances available at June 30, 2016, 2015 and 2014 were approximately $8.9 million, $8.6 million and
$6.2 million, respectively. Tuition revenues went up slightly due to an increase in kindergarten tuition payments for the
District.
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