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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)

Capital Assets - Governmental Activities Capital Assets - Governmental Activities
2015 2014

Vehicles Computer CIP Furniture and Vehicles Computer CIP Furniture and
2% software 1% equipment 2% software 1% equipment
6% 6%
0% 0%
Land
Land 2%
2%

Building & Land Imp. Building & Land Imp.
Imp. 8% Imp. 8%
81% 81%

See Note 7 in the notes to the basic financial statements for more information on the District’s capital assets.

Debt Administration

At June 30, 2015, the District had $21,244,057 in general obligation bonds, certificates of participation, capital leases and
a software license obligation outstanding. Of this total, $1,179,033 is due within one year and $20,065,024 is due in
greater than one year. The following table summarizes the outstanding debt.

Outstanding Debt, at Year End

Series 2003 Refunding Bonds Governmental Governmental
Energy Conservation Bonds Activities Activities
Qualified School Construction Bonds 2015 2014
Certificates of Participation
Capital Leases $- $ 435,000
Software License Obligation 1,505,000 1,705,000
1,580,000 1,725,000
Total
17,385,000 17,825,000
712,899 874,520
61,158 175,380

$ 21,244,057 $ 22,739,900

All bonds are general obligations of the District for which the full faith and credit of the District is pledged for
repayment. There were no additions to long-term debt in fiscal year 2015 and principal payments for the year were
$1,495,843.

See Note 8 in the notes to the basic financial statements for more information on the District’s debt administration.

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