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HUDSON CITY SCHOOL DISTRICT
SUMMIT COUNTY, OHIO
STATEMENT OF NET POSITION
JUNE 30, 2015
Governmental Business-type Total
Activities Activities
$ 32,081,261
Assets: $ 30,954,009 $ 1,127,252
Equity in pooled cash and investments . . . . . . . 43,493,020
Receivables: 43,493,020 - 440,691
440,691 - 203,669
Property taxes . . . . . . . . . . . . . . . . . . . 203,669 - 114,616
Payment in lieu of taxes . . . . . . . . . . . . . . 114,616 - 2,229
Intergovernmental . . . . . . . . . . . . . . . . . 2,229 - 55,302
Accrued interest . . . . . . . . . . . . . . . . . . 55,302 -
Materials and supplies inventory. . . . . . . . . . . 1,354,383
Inventory held for resale . . . . . . . . . . . . . . . 1,354,383 - 56,028,036
Capital assets: 56,028,036 - 57,382,419
Nondepreciable capital assets . . . . . . . . . . . 57,382,419 - 133,773,207
Depreciable capital assets, net . . . . . . . . . . . 132,645,955 1,127,252
Capital assets, net . . . . . . . . . . . . . . . . . 1,534,659
Total assets . . . . . . . . . . . . . . . . . . . . . . 4,517,701
1,349,841
Deferred outflows of resources: 1,534,659 - 7,402,201
Unamortized deferred charges on debt refunding. . . 4,506,033 11,668
Pension - STRS. . . . . . . . . . . . . . . . . . . . 1,286,943 62,898 342,926
Pension - SERS . . . . . . . . . . . . . . . . . . . . 7,327,635 74,566 322,179
Total deferred outflows of resources . . . . . . . . . 5,215,802
980,820
Liabilities: 291,716 51,210 230,955
Accounts payable . . . . . . . . . . . . . . . . . . . 322,179 -
Contracts payable . . . . . . . . . . . . . . . . . . . 5,158,677 62,883
Accrued wages and benefits payable. . . . . . . . . . 963,263 57,125 556,990
Pension and postemployment benefits payable . . . . 228,350 17,557
Intergovernmental payable. . . . . . . . . . . . . . . 2,092,416
Accrued interest payable. . . . . . . . . . . . . . . . 62,883 2,605
Claims payable. . . . . . . . . . . . . . . . . . . . . 556,990 - 80,801,927
Long-term liabilities: - 23,125,902
Due within one year. . . . . . . . . . . . . . . . . . 2,087,308 113,732,800
Due in more than one year: 5,108
79,909,354
Net pension liability (See Note 12) . . . . . . . . . 23,116,688 892,573
Other amounts due in more than one year. . . . . . 112,697,408 9,214
Total liabilities . . . . . . . . . . . . . . . . . . . . . 1,035,392
Deferred inflows of resources: 33,502,387 - 33,502,387
Property taxes levied for the next fiscal year . . . . . . 440,691 - 440,691
Payment in lieu of taxes levied for the next fiscal year . 31,184
Pension - STRS . . . . . . . . . . . . . . . . . . . . . 12,042,898 117,510 12,074,082
Pension - SERS . . . . . . . . . . . . . . . . . . . . . 2,404,344 148,694 2,521,854
Total deferred inflows of resources . . . . . . . . . . .
48,390,320 48,539,014
Net position:
Net investment in capital assets . . . . . . . . . . . . . 38,781,982 - 38,781,982
Restricted for:
Capital projects . . . . . . . . . . . . . . . . . . . . . 1,981,905 $ - 1,981,905
Locally funded programs . . . . . . . . . . . . . . . . 86,451 - 86,451
State funded programs . . . . . . . . . . . . . . . . . 50,725 - 50,725
Federally funded programs . . . . . . . . . . . . . . . 54,760 - 54,760
Student activities . . . . . . . . . . . . . . . . . . . . -
Other purposes . . . . . . . . . . . . . . . . . . . . . 143,715 - 143,715
Unrestricted (deficit) . . . . . . . . . . . . . . . . . . . 192,715 17,732 192,715
(62,406,391) (62,388,659)
Total net position (deficit) . . . . . . . . . . . . . . . . 17,732
$ (21,114,138) $ (21,096,406)
SEE ACCOMPANYING NOTES TO THE BASIC FINANCIAL STATEMENTS
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