Page 36 - Microsoft Word - CAFR Title Page

HUDSON CITY SCHOOL DISTRICT
SUMMIT COUNTY, OHIO

MANAGEMENT’S DISCUSSION AND ANALYSIS
FOR THE FISCAL YEAR ENDED JUNE 30, 2016

(UNAUDITED)

The following table shows fiscal year 2016 balances compared to 2015:

Capital Assets at June 30
(Net of Depreciation)

Governmental Activities

Land 2016 2015
Construction in progress (CIP)
Land improvements $ 1,032,204 $ 1,032,204
Building and improvements - 322,179
Furniture and equipment
Vehicles 4,568,776 4,325,124
Computer software 46,598,621 46,912,197

3,478,148 3,414,797
1,280,307 1,252,617

31,663 123,301

Total $ 56,989,719 $ 57,382,419

The net decrease in capital assets is a result of depreciation expense of $2,291,544 exceeding acquisitions of $1,898,844.
Most of the capital asset acquisitions in 2016 were for various building improvement projects, such as roof replacements
and security upgrades. The District also completed a tennis court renovation project during 2016, which was reported as
construction in progress in the prior year.

The following graphs show the breakdown of governmental activities capital assets by category for 2016 and 2015.

Capital Assets - Governmental Activities Capital Assets - Governmental Activities
2016 2015

Vehicles Computer Furniture and Vehicles Computer CIP Furniture and
2% software equipment 2% software 1% equipment
6% 6%
0% 0%

Land Land
2% 2%

Building & Land Imp. Building & Land Imp.
Imp. 8% Imp. 8%
82% 81%

See Note 7 in the notes to the basic financial statements for more information on the District’s capital assets.

Debt Administration

At June 30, 2016, the District had $20,065,024 in general obligation bonds, certificates of participation and capital leases
outstanding. Of this total, $1,154,911 is due within one year and $18,910,113 is due in greater than one year. The
following table summarizes the District’s outstanding debt.

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