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HUDSON CITY SCHOOL DISTRICT
SUMMIT COUNTY, OHIO

NOTES TO THE BASIC FINANCIAL STATEMENTS
FOR THE FISCAL YEAR ENDED JUNE 30, 2016

NOTE 12 - DEFINED BENEFIT PENSION PLANS - (Continued)

Pension Liabilities, Pension Expense, and Deferred Outflows of Resources and Deferred Inflows of
Resources Related to Pensions

The net pension liability was measured as of June 30, 2015, and the total pension liability used to calculate
the net pension liability was determined by an actuarial valuation as of that date. The District's proportion
of the net pension liability was based on the District's share of contributions to the pension plan relative to
the contributions of all participating entities. Following is information related to the proportionate share
and pension expense:

SERS STRS Total

Proportionate share of the net $ 17,509,957 $ 72,713,725 $ 90,223,682
pension liability
0.30686400% 0.26310210%
Proportion of the net pension $ 1,104,634 $ 3,130,506 $ 4,235,140
liability

Pension expense

At June 30, 2016, the District reported deferred outflows of resources and deferred inflows of resources
related to pensions from the following sources:

SERS STRS Total

Deferred outflows of resources $ 282,326 $ 3,323,986 $ 3,606,312
Differences between expected and
1,326,840 3,822,849 5,149,689
actual experience $ 1,609,166 $ 7,146,835 $ 8,756,001
District contributions subsequent to the

measurement date

Total deferred outflows of resources

Deferred inflows of resources $ 581,104 $ 5,405,490 $ 5,986,594
Net difference between projected and 5,868 1,155,629 1,161,497

actual earnings on pension plan investments $ 586,972 $ 6,561,119 $ 7,148,091
Changes in proportionate share

Total deferred inflows of resources

$5,149,689 reported as deferred outflows of resources related to pension resulting from District
contributions subsequent to the measurement date will be recognized as a reduction of the net pension
liability in the year ending June 30, 2017. Other amounts reported as deferred outflows of resources and
deferred inflows of resources related to pension will be recognized in pension expense as follows:

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