Page 29 - Hudson City Schools CAFR 2017

HUDSON CITY SCHOOL DISTRICT
SUMMIT COUNTY, OHIO

MANAGEMENT’S DISCUSSION AND ANALYSIS
FOR THE FISCAL YEAR ENDED JUNE 30, 2017
(UNAUDITED)

Proprietary Funds

Proprietary funds use the same basis of accounting as business-type activities; therefore, these statements will essentially
match information provided in the statements for the District as a whole. The basic proprietary fund financial statements
can be found on pages F 27 - F 29 of this report.

Fiduciary Funds

The District is the trustee, or fiduciary, for its scholarship programs. This activity is presented as a private-purpose trust
fund. The District also acts in a trustee capacity as an agent for individuals, private organizations, other governmental
units and/or other funds. These activities are reported in two agency funds. The District’s fiduciary activities are
reported in separate statements of fiduciary net position and changes in fiduciary net position on pages F 30 - F 31.
These activities are excluded from the District’s other financial statements because the assets cannot be utilized by the
District to finance its operations.

Notes to the Basic Financial Statements

The notes provide additional information that is essential to a full understanding of the data provided in the government-
wide and fund financial statements. These notes to the basic financial statements can be found on pages F 33 - F 72 of
this report.

Required Supplementary Information

In addition to the basic financial statements and accompanying notes, this report also presents certain required
supplementary information concerning the District’s net pension liability. The required supplementary information can
be found on pages F 74 - F 80 of this report.

The District as a Whole

The statement of net position provides the perspective of the District as a whole. The following table provides a
summary of the District’s net position for fiscal years 2017 and 2016.

F 7