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HUDSON CITY SCHOOL DISTRICT
SUMMIT COUNTY, OHIO

RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS
TO THE STATEMENT OF ACTIVITIES
FOR THE FISCAL YEAR ENDED JUNE 30, 2016

Net change in fund balances - total governmental funds $ 4,953,660

Amounts reported for governmental activities in the (392,700)
statement of activities are different because:
(173,745)
Governmental funds report capital outlays as expenditures. $ 1,898,844 1,179,033
However, in the statement of activities, the cost of those (2,291,544)
assets is allocated over their estimated useful lives as (72,253)
depreciation expense. 5,079,083
Capital asset additions (4,178,654)
Current year depreciation (156,146)
Total (1,015,897)
5,222,381
Revenues in the statement of activities that do not provide (147,875)
current financial resources are not reported as revenues in (108,078)
the funds.
Delinquent property taxes 82,208
Accrued interest
Intergovernmental

Total

Repayment of principal on long-term obligations is an expenditure in the
governmental funds, but the repayment reduces long-term liabilities
on the statement of net position.

In the statement of activities, interest is accrued on outstanding bonds, 2,215
whereas in governmental funds, an interest expenditure is reported 6,659
when due. The following items resulted in additional interest being (81,127)
reported in the statement of activities:
Decrease in accrued interest payable
Amortization of bond premiums
Amortization of deferred charges on refunding
Total

Contractually required contributions are reported as expenditures in
governmental funds; however, the statement of activities reports
these amounts as deferred outflows of resources.

Except for amounts reported as deferred inflows/outflows of resources,
changes in the net pension liability are reported as pension expense in the
statement of activities.

Some expenses reported in the statement of activities, such as
compensated absences, do not require the use of current financial
resources and therefore are not reported as expenditures in
governmental funds.

An internal service fund used by management to charge the costs of medical
and insurance to individual funds is not reported in the statement of
activities. Governmental fund expenditures and the related internal service
fund revenues are eliminated. The net revenue (expense) of the internal
service fund is allocated among the governmental activities.

Change in net position of governmental activities $

SEE ACCOMPANYING NOTES TO THE BASIC FINANCIAL STATEMENTS

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