Page 72 - Hudson City Schools CAFR 2017

HUDSON CITY SCHOOL DISTRICT
SUMMIT COUNTY, OHIO

NOTES TO THE BASIC FINANCIAL STATEMENTS
FOR THE FISCAL YEAR ENDED JUNE 30, 2017

NOTE 3 - DEPOSITS AND INVESTMENTS - (Continued)

D. Reconciliation of Cash and Investments to the Statement of Net Position

The following is a reconciliation of cash and investments as reported in the note above to cash and
investments as reported on the statement of net position as of June 30, 2017:

Cash and investments per note
Carrying amount of deposits $ 28,708,639
Investments 8,822,211
Cash on hand 1,300

Total $ 37,532,150

Cash and investments per statement of net position
Governmental activities $ 35,920,778
Business type activities 1,291,388
Private-purpose trust funds 2,650
Agency funds 317,334
Total $ 37,532,150

NOTE 4 - INTERFUND TRANSACTIONS

A. Interfund balances at June 30, 2017, as reported on the fund statements consist of the following
amounts due to/from other funds:

Receivable fund Payable fund Amount
General fund Nonmajor governmental funds $ 112,886

The primary purpose of the due to/from other funds is to cover negative cash in various nonmajor
governmental funds. The interfund balances will be repaid once the anticipated revenues are received,
which is expected to be within one year.

Interfund balances between governmental funds are eliminated on the government-wide financial
statements; therefore, no internal balances at June 30, 2017 are reported on the statement of net
position.

B. Interfund transfers for the fiscal year ended June 30, 2017, consisted of the following, as reported on
the fund statements:

Transfers from: Transfer to: Amount
General fund Nonmajor governmental funds $ 561,000
Nonmajor governmental funds Nonmajor governmental funds 1,235,000

Transfers are used to move revenues from the fund that statute or budget required to collect them to the
fund that statute or budget requires to expend them and to use unrestricted revenues collected in the
general fund to finance various programs accounted for in other funds in accordance with budgetary
authorizations.

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