Page 32 - 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)

Other significant changes include:

 An increase in current assets of $3,039,672 (3.8%). This is primarily the result of an increase in cash and
investments as the District’s cash receipts exceeded cash disbursements during the year.

 An increase in deferred inflows of resources - other amounts of $5,188,111 (15.3%). This is due to a lesser amount
of property taxes available to the District as an advance at the close of fiscal year 2017, resulting in a higher amount
of property taxes receivable which were levied to finance fiscal year 2018.

A portion of the District’s net position, or $1,694,486, represents resources that are subject to external restriction on how
they may be used. The net investment in capital assets makes up another $40,576,526. The remaining unrestricted
portion of the District’s net position is a deficit of $61,848,556.

The graphs below present the District’s governmental and business-type assets, deferred outflows of resources, liabilities,
deferred inflows of resources and net position at June 30, 2017 and June 30, 2016.
Governmental Activities

$200,000,000 $179,147,757
$161,784,112
$150,000,000
$159,423,414
$100,000,000 $145,892,355 Net Position
Assets and Deferred Outflows
$50,000,000 $(15,891,757)
$(19,724,343) Liabilities and Deferred Inflows
$-
$(50,000,000)
2017 2016

Business-Type Activities
$1,578,014
$1,600,000
$1,400,000 $1,172,658
$1,200,000 $1,431,215
$1,287,554
$1,000,000 Net Position
$800,000 Assets and Deferred Outflows
$600,000
$114,896 Liabilities and Deferred Inflows
$400,000
$146,799
$200,000
$-
2017 2016

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