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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)

Change in Net Position (Continued)

Governmental Business-Type

Activities Activities Total

2015 2014 2015 2014 2015 2014

Expenses 27,692,555 28,005,316 - - 27,692,555 28,005,316
Program expenses:
8,739,661 8,800,972 - - 8,739,661 8,800,972
Instruction:
Regular 288,761 290,652 - - 288,761 290,652
Special
Vocational 1,290,104 1,283,858 - - 1,290,104 1,283,858
Other
4,516,471 4,681,004 - - 4,516,471 4,681,004
Support services:
Pupil 1,995,041 1,772,770 - - 1,995,041 1,772,770
Instructional staff
Board of education 70,122 41,731 - - 70,122 41,731
Administration
Fiscal 3,789,299 4,059,710 - - 3,789,299 4,059,710
Business
Operations and maintenance 1,198,288 1,627,077 - - 1,198,288 1,627,077
Pupil transportation
Central 593,218 320,399 - - 593,218 320,399

Operation of non-instructional services: 5,363,794 5,076,162 - - 5,363,794 5,076,162
Food service operations
Other non-instructional services 3,898,262 3,281,271 - - 3,898,262 3,281,271

Extracurricular activities 565,003 642,675 - - 565,003 642,675
Interest on long-term debt
Community education 1,374,636 1,423,600 - - 1,374,636 1,423,600
18,097 19,033 - - 18,097 19,033
Total expenses - -
1,707,800 1,672,664 - - 1,707,800 1,672,664
Changes in net position 842,430 885,321 1,315,393 1,345,070 842,430 885,321
- -
Net position at beginning of year (restated) 1,315,393 1,345,070 1,315,393 1,345,070
63,943,542 63,884,215
Net position at end of year 65,258,935 65,229,285

8,546,647 12,087,199 105,130 106,406 8,651,777 12,193,605
(29,660,785) N/A (87,398) N/A (29,748,183) N/A

$ (21,114,138) $ (29,660,785) $ 17,732 $ (87,398) $ (21,096,406) $ (29,748,183)

The information necessary to restate the 2014 beginning balances and the 2014 pension expense amounts for the effects
of the initial implementation of GASB 68 is not available. Therefore, 2014 functional expenses still include pension
expense of $4,734,043 computed under GASB 27 for governmental activities. GASB 27 required recognizing pension
expense equal to the contractually required contributions to the plan. Under GASB 68, pension expense represents
additional amounts earned, adjusted by deferred inflows/outflows. The contractually required contribution is no longer a
component of pension expense. Under GASB 68, the 2015 statements report pension expense of $3,389,235 for
governmental activities and $49,133 for business-type activities.

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