Page 74 - Hudson City Schools CAFR 2017
P. 74

HUDSON CITY SCHOOL DISTRICT
                                                  SUMMIT COUNTY, OHIO

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

               NOTE 5 - PROPERTY TAXES - (Continued)

                       The assessed values upon which the fiscal year 2017 taxes were collected are:

                                                      2016 Second                2017 First
                                                     Half Collections          Half Collections
                                                       Amount        Percent        Amount        Percent

                       Agricultural/residential
                         and other real estate   $      928,703,860       99.23  $      948,759,150      99.12
                       Public utility personal              7,238,320        0.77             8,461,030        0.88

                       Total                     $     935,942,180    100.00  $     957,220,180  100.00

                       Tax rate per $1,000 of
                         assessed valuation for:

                           General operations    $                 86.93   $                 86.93
                           Permanent improvement                       1.50                       1.50

               NOTE 6 - RECEIVABLES

                       Receivables at June 30, 2017, as reported on the statement of net position, consisted of property taxes,
                       payments in lieu of taxes, accrued interest, and intergovernmental grants and entitlements.  Receivables
                       have  been disaggregated  on the face of the basic  financial statements.  All receivables are considered
                       collectible in full due to the ability to foreclose for the nonpayment of taxes, the stable condition of State
                       programs and the current year guarantee of federal funds.  All  receivables are expected to be collected
                       within the subsequent year.
























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