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HUDSON CITY SCHOOL DISTRICT
SUMMIT COUNTY, OHIO

CHANGES IN FUND BALANCES, GOVERNMENTAL FUNDS
LAST TEN FISCAL YEARS

(MODIFIED ACCRUAL BASIS OF ACCOUNTING)

2015 2014 2013 2012 2011

Revenues $ 44,766,636 $ 47,389,754 $ 42,122,419 $ 40,745,914 $ 40,697,004
314,000 314,000
From local sources: 984,788 515,367 349,063 205,244 102,236
Property taxes - 33,815
Payments in lieu of taxes 641,669 800,280 703,700 180,591 221,277
Tuition
Transportation fees -- - 1,288,685 1,378,231
Earnings on investments 1,086,564 911,328
Charges for services 38,680 57,818 51,472 302,976
Extracurricular 328,148 332,259
Classroom materials and fees 1,203,390 1,206,450 1,279,995 396,017
Other local revenues 1,156,822 1,260,719
Intergovernmental - Intermediate 848,935 849,924 769,849 20,820,684 21,447,166
Intergovernmental - State 2,253,792 3,752,699
Intergovernmental - Federal 361,002 346,964 346,101 70,753,710
68,776,461
Total revenues 681,522 1,531,441 452,473 29,920,213
7,160,628
Expenditures 1,335,218 1,307,311 1,278,479
395,679
Current: 20,366,537 20,072,709 20,078,720 1,394,094
Instruction:
Regular 1,693,478 1,760,248 1,856,419 4,744,635
Special 5,205,729
Vocational 72,921,855 75,838,266 69,288,690
Other 34,423
Support services: 27,131,221 27,194,680 26,755,411 26,547,675 4,178,672
Pupil 8,943,676 8,615,372 6,406,501 6,186,526 1,482,001
Instructional staff
Board of education 269,533 254,736 241,724 244,846 573,689
Administration 1,290,104 1,283,858 1,211,810 1,327,522 5,161,634
Fiscal 3,484,103
Business 4,567,464 4,706,665 4,908,661 5,026,641
Operations and maintenance 1,988,037 1,846,576 4,319,163 4,773,005 464,868
Pupil transportation
Central 70,249 41,731 44,201 49,083 1,572,734
Operation of non-instructional services: 3,868,836 4,020,237 4,259,944 4,215,459 51,019
Food service operations 1,206,874 1,619,261 2,023,839 1,488,408
Other non-instructional services 1,314,292
Extracurricular activities 591,359 559,490 593,078 586,663 -
Pass through payments 4,937,486 4,882,939 4,772,810 4,776,440
Facilities acquisitions and construction 3,915,887 3,233,565 3,954,783 3,663,230 1,308,126
Capital outlay -
Debt service: 453,604 525,875 499,551 426,422
Principal retirement 1,127,382
Interest and fiscal charges 1,388,802 1,365,327 1,435,672 1,543,380 3,111,002
Debt issue costs 11,306 17,864 23,995 35,185
-
Total expenditures 1,479,062 1,458,495 1,241,538 1,220,646 72,684,923
- - - -
Excess of revenues over (under) expenditures (1,931,213)
3,367,929 2,312,691 1,002,774 1,011,533
Other Financing Sources (Uses) - - 340,880 - 1,229,317
(1,229,317)
Transfers in 1,495,843 3,425,296 3,306,932 1,910,778
Transfers (out) 770,613 816,437 847,026 2,362,798 61,291
Proceeds from sale of assets - - 302,738 854,187
Capital lease transaction -
Software license obligation transaction 67,747,885 68,181,095 68,493,031 -
Premium on debt issuance 67,396,240 -
Sale of bonds 5,173,970 7,657,171 795,659 -
Payment to refunded debt escrow agent 1,380,221 -
Issuance of certificates of participation -
1,645,000 1,006,000 1,006,000 1,326,000 915,478
Total other financing sources (uses) (1,645,000) (1,006,000) (1,006,000) (1,326,000) -
(1,015,735)
Special item 16,935 2,686 20,674 19,307
- 918,391 - - 6.02%
Net change in fund balances - -
- - 340,880 -
Debt service as a percentage of noncapital - - 64,451 -
expenditures - - - -
- - -
Source: School District financial records. - (21,474,661)
18,725,000 19,307

16,935 921,077 (2,323,656) 511,000

-- - 1,910,528

$ 5,190,905 $ 8,578,248 $ (1,527,997) $ $

3.52% 6.53% 6.13% 6.49%

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