Page 48 - Hudson City Schools CAFR 2017

HUDSON CITY SCHOOL DISTRICT
SUMMIT COUNTY, OHIO
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCE - BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS)
GENERAL FUND
FOR THE FISCAL YEAR ENDED JUNE 30, 2017
Variance with
Budgeted Amounts Final Budget
Positive
Original Final Actual (Negative)
Revenues:
From local sources:
Property taxes. . . . . . . . . . . . . . . . $ 43,771,150 $ 43,849,123 $ 41,581,227 $ (2,267,896)
Payment in lieu of taxes. . . . . . . . . . . 496,799 497,684 566,274 68,590
Tuition. . . . . . . . . . . . . . . . . . . . 707,024 708,283 715,995 7,712
Earnings on investments. . . . . . . . . . . 138,058 138,304 290,749 152,445
Extracurricular. . . . . . . . . . . . . . . . 304,355 304,897 297,780 (7,117)
Classroom materials and fees . . . . . . . . 126,344 126,569 108,439 (18,130)
Other local revenues . . . . . . . . . . . . . 108,982 109,176 111,469 2,293
Intergovernmental - state . . . . . . . . . . . 18,544,522 18,577,557 17,583,233 (994,324)
Total revenues . . . . . . . . . . . . . . . . . 64,197,234 64,311,593 61,255,166 (3,056,427)
Expenditures:
Current:
Instruction:
Regular . . . . . . . . . . . . . . . . . . . 26,130,056 26,130,056 24,980,717 1,149,339
Special. . . . . . . . . . . . . . . . . . . . 8,772,645 8,772,645 8,517,594 255,051
Vocational. . . . . . . . . . . . . . . . . . 312,540 312,540 304,026 8,514
Other. . . . . . . . . . . . . . . . . . . . . 1,693,715 1,693,715 1,281,193 412,522
Support services:
Pupil. . . . . . . . . . . . . . . . . . . . . 4,069,084 4,069,084 3,902,450 166,634
Instructional staff . . . . . . . . . . . . . . 2,195,807 2,195,807 2,088,929 106,878
Board of education . . . . . . . . . . . . . 123,868 123,868 92,181 31,687
Administration. . . . . . . . . . . . . . . . 4,232,695 4,232,695 3,942,171 290,524
Fiscal . . . . . . . . . . . . . . . . . . . . 1,403,727 1,403,727 1,326,922 76,805
Business. . . . . . . . . . . . . . . . . . . 706,829 706,829 626,618 80,211
Operations and maintenance . . . . . . . . 5,359,856 5,359,856 5,203,108 156,748
Pupil transportation . . . . . . . . . . . . . 3,845,040 3,845,040 3,690,198 154,842
Central. . . . . . . . . . . . . . . . . . . . 747,348 747,348 728,036 19,312
Extracurricular activities . . . . . . . . . . . 1,135,078 1,135,078 1,199,756 (64,678)
Debt service:
Principal . . . . . . . . . . . . . . . . . . . 350,000 350,000 350,000 -
Interest and fiscal charges . . . . . . . . . . 77,000 77,000 67,509 9,491
Total expenditures . . . . . . . . . . . . . . . 61,155,288 61,155,288 58,301,408 2,853,880

Excess of revenues over expenditures . . . . . 3,041,946 3,156,305 2,953,758 (202,547)
Other financing sources (uses):
Proceeds from sale of assets . . . . . . . . . 10,459 10,478 - (10,478)
Refund of prior year's expenditures. . . . . . 83,671 83,820 64,915 (18,905)
Refund of prior year's receipts . . . . . . . . (200) (200) (200) -
Transfers (out) . . . . . . . . . . . . . . . . (561,000) (561,000) (561,000) -
Total other financing sources (uses) . . . . . . (467,070) (466,902) (496,285) (29,383)

Net change in fund balance. . . . . . . . . . . 2,574,876 2,689,403 2,457,473 (231,930)
Fund balance at beginning of year. . . . . . 28,011,485 28,011,485 28,011,485 -
Prior year encumbrances appropriated . . . 716,488 716,488 716,488 -
Fund balance at end of year . . . . . . . . . $ 31,302,849 $ 31,417,376 $ 31,185,446 $ (231,930)

SEE ACCOMPANYING NOTES TO THE BASIC FINANCIAL STATEMENTS

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