Page 38 - 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)

Capital Assets and Debt Administration

Capital Assets

At the end of fiscal year 2017, the District had $57,059,076 invested in land, land improvements, buildings and
improvements, furniture and equipment, vehicles and computer software. This entire amount is reported in governmental
activities.

The following table shows fiscal year 2017 balances compared to 2016:

Capital Assets at June 30
(Net of Depreciation)

Governmental Activities
2017 2016

Land $ 1,032,204 $ 1,032,204
Land improvements 4,482,595 4,568,776
Building and improvements 46,896,497 46,598,621
Furniture and equipment 3,191,443 3,478,148
Vehicles 1,431,092 1,280,307
Computer software 25,245 31,663
Total $ 57,059,076 $ 56,989,719

The overall increase in capital assets is a result of acquisitions of $2,431,875 exceeding depreciation expense of
$2,345,059 and net disposals of $17,459. Most of the capital asset acquisitions in 2017 were for various building
improvement projects, including $1.6 million in renovations at the East Woods Elementary school. The District also
purchased four new school buses and two pickup trucks during the year to replace older vehicles.

The following graphs show the breakdown of governmental activities capital assets by category for 2017 and 2016.
Capital Assets - Governmental Activities Capital Assets - Governmental Activities
2017 2016

Computer Computer
Vehicles software Furniture and Vehicles software Furniture and
3% 0% equipment 2% 0% equipment
6% 6%

Land Land
2% 2%

Building & Building &
Imp. Imp.
81% Land Imp. 82% Land Imp.
8% 8%

See Note 7 in the notes to the basic financial statements for more information on the District’s capital assets.
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