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HUDSON CITY SCHOOL DISTRICT
SUMMIT COUNTY, OHIO

STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS

FOR THE FISCAL YEAR ENDED JUNE 30, 2016

General Nonmajor Total
Governmental Governmental

Funds Funds

Revenues: $ 42,139,812 $ 1,229,127 $ 43,368,939
From local sources:
Property taxes . . . . . . . . . . . . . . . . 472,588 - 472,588

Payment in lieu of taxes . . . . . . . . . . . 792,968 - 792,968
Tuition . . . . . . . . . . . . . . . . . . . .
Earnings on investments . . . . . . . . . . . 138,708 3,015 141,723
Charges for services . . . . . . . . . . . . .
Extracurricular . . . . . . . . . . . . . . . . 2,022 1,206,111 1,208,133
Classroom materials and fees. . . . . . . . .
Other local revenues . . . . . . . . . . . . . 475,749 370,906 846,655
Intergovernmental - intermediate . . . . . . .
Intergovernmental - state . . . . . . . . . . . 363,532 - 363,532
Intergovernmental - federal . . . . . . . . . .
Total revenues . . . . . . . . . . . . . . . . . 320,603 159,887 480,490

- 1,405,451 1,405,451

17,693,378 2,480,758 20,174,136

- 1,649,257 1,649,257

62,399,360 8,504,512 70,903,872

Expenditures: 24,175,940 2,458,734 26,634,674
Current: 7,971,039 794,983 8,766,022
Instruction: 288,267 1,960 290,227
1,275,013 10,800 1,285,813
Regular . . . . . . . . . . . . . . . . . . . .
Special . . . . . . . . . . . . . . . . . . . . 4,017,347 809,310 4,826,657
Vocational . . . . . . . . . . . . . . . . . . 2,057,052 114,755 2,171,807
Other . . . . . . . . . . . . . . . . . . . . .
Support services: 38,630 - 38,630
Pupil. . . . . . . . . . . . . . . . . . . . . . 3,687,178 179,950 3,867,128
Instructional staff . . . . . . . . . . . . . . . 1,345,600 1,410,151
Board of education . . . . . . . . . . . . . . 64,551
Administration . . . . . . . . . . . . . . . . 623,359 - 623,359
Fiscal . . . . . . . . . . . . . . . . . . . . . 4,963,733 4,971,577
Business . . . . . . . . . . . . . . . . . . . . 3,607,971 7,844 3,708,416
Operations and maintenance. . . . . . . . . . 100,445
Pupil transportation . . . . . . . . . . . . . . 459,386 459,386
Central . . . . . . . . . . . . . . . . . . . . . -
Operation of non-instructional services: - 1,397,609
Food service operations . . . . . . . . . . . . 6,210 1,397,609 18,080
Other non-instructional services . . . . . . . . 1,098,373 11,870
Extracurricular activities . . . . . . . . . . . . . 1,567,433
Facilities acquisition and construction . . . . . . - 469,060 2,025,949
Debt service: 2,025,949
Principal retirement . . . . . . . . . . . . . . . 579,033 1,179,033
Interest and fiscal charges . . . . . . . . . . . . 120,249 600,000 725,382
Total expenditures. . . . . . . . . . . . . . . . . 56,314,380 605,133
9,652,953 65,967,333

Excess (deficiency) of revenues over (under) 6,084,980 (1,148,441) 4,936,539
expenditures . . . . . . . . . . . . . . . . . . .

Other financing sources (uses): 8,748 8,373 17,121
Proceeds from sale of assets . . . . . . . . . . . - 1,781,000 1,781,000
Transfers in. . . . . . . . . . . . . . . . . . . . (1,220,000) (1,781,000)
Transfers (out) . . . . . . . . . . . . . . . . . . (561,000)
Total other financing sources (uses). . . . . . . . 569,373 17,121
(552,252)
Net change in fund balances. . . . . . . . . . . .
5,532,728 (579,068) 4,953,660
Fund balances at beginning of year. . . . . . .
Fund balances at end of year . . . . . . . . . . 26,056,464 2,520,985 28,577,449

$ 31,589,192 $ 1,941,917 $ 33,531,109

SEE ACCOMPANYING NOTES TO THE BASIC FINANCIAL STATEMENTS

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