Page 41 - Hudson City Schools CAFR 2017

HUDSON CITY SCHOOL DISTRICT
SUMMIT COUNTY, OHIO
STATEMENT OF NET POSITION
JUNE 30, 2017
Governmental Business-type
Activities Activities Total
Assets:
Equity in pooled cash and investments . . . . . . . $ 35,920,778 $ 1,291,388 $ 37,212,166
Receivables:
Property taxes . . . . . . . . . . . . . . . . . . . 44,556,323 - 44,556,323
Payment in lieu of taxes . . . . . . . . . . . . . . 533,011 - 533,011
Intergovernmental . . . . . . . . . . . . . . . . . 515,377 - 515,377
Accrued interest . . . . . . . . . . . . . . . . . . 53,571 - 53,571
Prepayments . . . . . . . . . . . . . . . . . . . . . 88,385 893 89,278
Materials and supplies inventory. . . . . . . . . . . 1,916 - 1,916
Inventory held for resale . . . . . . . . . . . . . . . 58,687 - 58,687
Capital assets:
Nondepreciable capital assets . . . . . . . . . . . 1,032,204 - 1,032,204
Depreciable capital assets, net . . . . . . . . . . . 56,026,872 - 56,026,872
Capital assets, net . . . . . . . . . . . . . . . . . 57,059,076 - 57,059,076
Total assets . . . . . . . . . . . . . . . . . . . . . . 138,787,124 1,292,281 140,079,405
Deferred outflows of resources:
Unamortized deferred charges on debt refunding. . . 1,372,405 - 1,372,405
Pension - STRS. . . . . . . . . . . . . . . . . . . . 14,530,090 73,014 14,603,104
Pension - SERS . . . . . . . . . . . . . . . . . . . . 4,733,795 212,719 4,946,514
Total deferred outflows of resources . . . . . . . . . 20,636,290 285,733 20,922,023
Liabilities:
Accounts payable . . . . . . . . . . . . . . . . . . . 228,581 62,018 290,599
Accrued wages and benefits payable. . . . . . . . . . 5,665,496 50,301 5,715,797
Pension and postemployment benefits payable . . . . 863,975 12,173 876,148
Intergovernmental payable. . . . . . . . . . . . . . . 194,410 758 195,168
Accrued interest payable. . . . . . . . . . . . . . . . 58,396 - 58,396
Claims payable. . . . . . . . . . . . . . . . . . . . . 718,146 - 718,146
Long-term liabilities:
Due within one year. . . . . . . . . . . . . . . . . . 1,584,316 8,845 1,593,161
Due in more than one year:
Net pension liability (See Note 12) . . . . . . . . . 107,200,357 1,253,576 108,453,933
Other amounts due in more than one year. . . . . . 21,216,693 16,407 21,233,100
Total liabilities . . . . . . . . . . . . . . . . . . . . . 137,730,370 1,404,078 139,134,448

Deferred inflows of resources:
Property taxes levied for the next fiscal year . . . . . . 38,640,704 - 38,640,704
Payment in lieu of taxes levied for the next fiscal year . 533,011 - 533,011
Pension - STRS . . . . . . . . . . . . . . . . . . . . . 2,126,157 2,647 2,128,804
Pension - SERS . . . . . . . . . . . . . . . . . . . . . 117,515 24,490 142,005
Total deferred inflows of resources . . . . . . . . . . . 41,417,387 27,137 41,444,524
Net position:
Net investment in capital assets . . . . . . . . . . . . . 40,576,526 - 40,576,526
Restricted for:
Capital projects . . . . . . . . . . . . . . . . . . . . . 1,019,724 - 1,019,724
Locally funded programs . . . . . . . . . . . . . . . . 103,697 - 103,697
State funded programs . . . . . . . . . . . . . . . . . 64,677 - 64,677
Federally funded programs . . . . . . . . . . . . . . . 125,300 - 125,300
Student activities . . . . . . . . . . . . . . . . . . . . 202,222 - 202,222
Other purposes . . . . . . . . . . . . . . . . . . . . . 178,866 - 178,866
Unrestricted (deficit) . . . . . . . . . . . . . . . . . . . (61,995,355) 146,799 (61,848,556)
Total net position (deficit) . . . . . . . . . . . . . . . . $ (19,724,343) $ 146,799 $ (19,577,544)

SEE ACCOMPANYING NOTES TO THE BASIC FINANCIAL STATEMENTS

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