Page 40 - 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)

The District’s second largest revenue source is State aid from the State Foundation program. These revenues comprised
17.5% of general fund cash receipts in fiscal year 2017. The District is on the funding guarantee which means that the
District will receive an adjusted total funding amount that is at least equal to the amount received in fiscal year 2017, or
approximately $10.9 million.

The District has committed itself to educational and financial excellence for many years. The budgeting and internal
controls utilized by the District have resulted in unmodified audit opinions. Each challenge identified in this section is
viewed simultaneously as an opportunity for the District to foray down paths not previously traveled to continue its
commitment to excellence. The District is committed to living within its financial means, and working with the
community it serves in order to garner adequate resources to support the educational program. The Board will continue
to evaluate all aspects of its operations, making prudent decisions where appropriate, in order to maximize its resources
and offer excellent educational offerings.

Contacting the District’s Financial Management

This financial report is designed to provide our citizens, taxpayers, and investors and creditors with a general overview of
the District’s finances and to show the District’s accountability for the money it receives. Questions about this report or
requests for additional financial information can be made by writing to Mrs. Kathryn Sines, Treasurer/CFO, Hudson City
School District, 2386 Hudson-Aurora Road, Hudson, Ohio 44236 or by calling (330) 653-1270.

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