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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)
The graph below presents the District’s governmental activities revenue for fiscal years 2015 and 2014.
Governmental Activities - General and Program Revenues
$80,000,000 $63,822,793 $65,928,483 General Revenues
$60,000,000 Program Revenues
$40,000,000 $8,667,396 $10,042,931
$20,000,000 Fiscal Year 2015 Fiscal Year 2014
$-
Business-Type Activities
Business-type activities include the District’s community education program which had operating revenues of $1,369,879
and operating expenses of $1,315,393 for fiscal year 2015. Both operating revenues (2.30%) and operating expenses
(2.21%) decreased compared to the prior year, and the program reported operating income of $54,486. Nonoperating
revenues consisted of $50,644 in grants. The change in net position for the fiscal year was an increase of $105,130.
These operations are self-supporting through user fees and charges. Management assesses its performance to ensure that
they are run efficiently.
The District’s Funds
The District’s governmental funds (as presented on the balance sheet on page F 24) reported a combined fund balance of
$28,577,449, which is $5,190,905 or 22.20% higher than last year’s total. The schedule below indicates the fund balance
as of June 30, 2015 and 2014, and the total change in fund balance.
General fund Fund Balance Fund Balance Increase
Nonmajor governmental funds June 30, 2015 June 30, 2014 (Decrease)
$ 26,056,464 $ 19,505,596 $ 6,550,868
2,520,985 3,880,948 (1,359,963)
Total $ 28,577,449 $ 23,386,544 $ 5,190,905
General Fund
Fund balance for the general fund increased $6,550,868. As a measure of the general fund’s liquidity, it is useful to
compare both unassigned fund balance and total fund balance to total fund expenditures. Unassigned fund balance
represents 43.64% of total general fund expenditures, while total fund balance represents 46.09% of that same amount.
The following table assists in illustrating the revenues of the general fund.
F 15
