Page 142 - Hudson City Schools CAFR 2017

HUDSON CITY SCHOOL DISTRICT
SUMMIT COUNTY, OHIO
CHANGES IN FUND BALANCES, GOVERNMENTAL FUNDS
LAST TEN FISCAL YEARS
(MODIFIED ACCRUAL BASIS OF ACCOUNTING)
2017 2016 2015 2014 2013
Revenues
From local sources:
Property taxes $ 38,638,804 $ 43,368,939 $ 44,766,636 $ 47,389,754 $ 42,122,419
Payments in lieu of taxes 566,274 472,588 984,788 515,367 349,063
Tuition 814,892 792,968 641,669 800,280 703,700
Transportation fees - - - - -
Earnings on investments 309,301 141,723 38,680 57,818 51,472
Charges for services 1,264,343 1,208,133 1,203,390 1,206,450 1,279,995
Extracurricular 857,199 846,655 848,935 849,924 769,849
Classroom materials and fees 338,123 363,532 361,002 346,964 346,101
Other local revenues 628,552 480,490 681,522 1,531,441 452,473
Intergovernmental - Intermediate 1,403,079 1,405,451 1,335,218 1,307,311 1,278,479
Intergovernmental - State 20,166,871 20,174,136 20,366,537 20,072,709 20,078,720
Intergovernmental - Federal 1,716,766 1,649,257 1,693,478 1,760,248 1,856,419
Total revenues 66,704,204 70,903,872 72,921,855 75,838,266 69,288,690
Expenditures
Current:
Instruction:
Regular 27,041,736 26,634,674 27,131,221 27,194,680 26,755,411
Special 9,320,195 8,766,022 8,943,676 8,615,372 6,406,501
Vocational 311,872 290,227 269,533 254,736 241,724
Other 1,261,399 1,285,813 1,290,104 1,283,858 1,211,810
Support services:
Pupil 4,933,413 4,826,657 4,567,464 4,706,665 4,908,661
Instructional staff 2,100,786 2,171,807 1,988,037 1,846,576 4,319,163
Board of education 78,386 38,630 70,249 41,731 44,201
Administration 4,028,833 3,867,128 3,868,836 4,020,237 4,259,944
Fiscal 1,361,659 1,410,151 1,206,874 1,619,261 2,023,839
Business 613,035 623,359 591,359 559,490 593,078
Operations and maintenance 5,095,194 4,971,577 4,937,486 4,882,939 4,772,810
Pupil transportation 4,027,925 3,708,416 3,915,887 3,233,565 3,954,783
Central 531,625 459,386 453,604 525,875 499,551
Operation of non-instructional services:
Food service operations 1,537,420 1,397,609 1,388,802 1,365,327 1,435,672
Other non-instructional services 37,412 18,080 11,306 17,864 23,995
Extracurricular activities 1,652,700 1,567,433 1,479,062 1,458,495 1,241,538
Facilities acquisitions and construction 2,095,139 2,025,949 3,367,929 2,312,691 1,002,774
Capital outlay - - - - 340,880
Debt service:
Principal retirement 1,154,911 1,179,033 1,495,843 3,425,296 3,306,932
Interest and fiscal charges 693,924 725,382 770,613 816,437 847,026
Debt issue costs - - - - 302,738
Total expenditures 67,877,564 65,967,333 67,747,885 68,181,095 68,493,031

Excess of revenues over (under) expenditures (1,173,360) 4,936,539 5,173,970 7,657,171 795,659
Other Financing Sources (Uses)
Transfers in 1,796,000 1,781,000 1,645,000 1,006,000 1,006,000
Transfers (out) (1,796,000) (1,781,000) (1,645,000) (1,006,000) (1,006,000)
Proceeds from sale of assets 8,089 17,121 16,935 2,686 20,674
Capital lease transaction - - - 918,391 -
Software license obligation transaction - - - - 340,880
Premium on debt issuance - - - - 64,451
Sale of bonds - - - - -
Payment to refunded debt escrow agent - - - - (21,474,661)
Issuance of certificates of participation - - - - 18,725,000
Total other financing sources (uses) 8,089 17,121 16,935 921,077 (2,323,656)
Special item - - - - -
Net change in fund balances $ (1,165,271) $ 4,953,660 $ 5,190,905 $ 8,578,248 $ (1,527,997)
Debt service as a percentage of noncapital
expenditures 2.82% 2.97% 3.52% 6.53% 6.13%
Source: School District financial records.

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