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HUDSON CITY SCHOOL DISTRICT
SUMMIT COUNTY, OHIO

MANAGEMENT’S DISCUSSION AND ANALYSIS
FOR THE FISCAL YEAR ENDED JUNE 30, 2015

(UNAUDITED)

Total governmental assets and deferred outflows of resources increased by $4,290,662 while total governmental
liabilities and deferred inflows of resources decreased by $4,255,985 resulting in an increase to net position of
$8,546,647. Total assets and deferred outflows of resources of business-type activities increased $147,212 while total
liabilities and deferred inflows of business-type activities increased by $42,082 resulting in an increase to net position of
$105,130.

The increase in governmental assets can primarily be attributed to an increase in cash and investments and capital assets.
Liabilities and deferred inflows of resources for governmental activities totaled $161,087,728; of this amount
$105,113,350 or 65.25% is long-term liabilities. The decrease in liabilities is primarily the result of current year principal
payments on long-term general obligation bonds as well as a large decrease in net pension liability which was offset by
an increase in deferred inflows of resources related to pensions.

The graphs below present the District’s governmental and business-type assets, deferred outflows of resources, liabilities,
deferred inflows of resources and net position at June 30, 2015 and June 30, 2014. The net position at June 30, 2014 was
restated as described in Note 3.

Governmental Activities

$200,000,000 $161,087,728 $165,343,713
$150,000,000

$100,000,000 $139,973,590 $135,682,928 Net Position
$50,000,000 $(21,114,138) $(29,660,785) Assets and Deferred Outflows
$- Liabilities and Deferred Inflows

$(50,000,000)

2015 2014 (restated)

Business-Type Activities

$1,400,000 $1,201,818 $1,142,004
$1,200,000 $1,184,086 $1,054,606
$1,000,000
$17,732 $(87,398) Net Position
$800,000 Assets and Deferred Outflows
$600,000 2015 2014 (restated) Liabilities and Deferred Inflows
$400,000
$200,000

$-
$(200,000)

The table below shows the changes in net position for fiscal years 2015 and 2014. Net position at June 30, 2014 has
been restated as described in Note 3.A.

F 10