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HUDSON CITY SCHOOL DISTRICT
SUMMIT COUNTY, OHIO

BALANCE SHEET
GOVERNMENTAL FUNDS

JUNE 30, 2015

General Nonmajor Total
Governmental Governmental

Funds Funds

Assets: $ 24,398,732 $ 2,845,757 $ 27,244,489
Equity in pooled cash and investments . . . . . . . .
Receivables: 42,262,700 1,230,320 43,493,020
440,691
Property taxes. . . . . . . . . . . . . . . . . . . . 440,691 - 203,669
Payment in lieu of taxes. . . . . . . . . . . . . . . 114,616
Intergovernmental. . . . . . . . . . . . . . . . . . 37,278 166,391 34,043
Accrued interest. . . . . . . . . . . . . . . . . . . 2,229
Due from other funds . . . . . . . . . . . . . . . . . 114,616 - 55,302
Materials and supplies inventory . . . . . . . . . . .
Inventory held for resale. . . . . . . . . . . . . . . . 34,043 - $ 71,588,059
Total assets . . . . . . . . . . . . . . . . . . . . . .
- 2,229

43,680 11,622

$ 67,331,740 $ 4,256,319

Liabilities: $ 235,593 $ 50,074 $ 285,667
Accounts payable . . . . . . . . . . . . . . . . . . . -
Contracts payable . . . . . . . . . . . . . . . . . . . 322,179 322,179
Accrued wages and benefits payable . . . . . . . . . 4,923,999
Compensated absences payable . . . . . . . . . . . . 695,053 234,678 5,158,677
Pension and postemployment benefits payable . . . . 909,150
Intergovernmental payable. . . . . . . . . . . . . . . 219,045 2,202 697,255
Claims payable. . . . . . . . . . . . . . . . . . . . . 47,128
Due to other funds . . . . . . . . . . . . . . . . . . . - 54,113 963,263
Total liabilities . . . . . . . . . . . . . . . . . . . . .
7,029,968 9,085 228,130

- 47,128

34,043 34,043

706,374 7,736,342

Deferred inflows of resources: 32,561,538 940,849 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 .
Delinquent property tax revenue not available . . . . . 1,128,463 28,271 1,156,734
Accrued interest not available . . . . . . . . . . . . . . 114,616 - 114,616
Intergovernmental revenue not available. . . . . . . . . - 59,840
Total deferred inflows of resources . . . . . . . . . . . 59,840
34,245,308 1,028,960 35,274,268

Fund balances: 43,680 2,229 45,909
Nonspendable:
Materials and supplies inventory . . . . . . . . . . . - 2,016,517 2,016,517
Restricted: - 237,215 237,215
Capital improvements. . . . . . . . . . . . . . . . . - 54,964 54,964
Food service operations . . . . . . . . . . . . . . . . - 143,715 143,715
Non-public schools . . . . . . . . . . . . . . . . . . - 91,731 91,731
Extracurricular activities. . . . . . . . . . . . . . . .
Other purposes. . . . . . . . . . . . . . . . . . . . . 663,760 - 663,760
Assigned: 542,064 - 542,064
Student instruction. . . . . . . . . . . . . . . . . . . 123,268 - 123,268
Student and staff support. . . . . . . . . . . . . . . . -
Rotary services. . . . . . . . . . . . . . . . . . . . . 15,585 (25,386) 15,585
Other purposes. . . . . . . . . . . . . . . . . . . . . 24,668,107 24,642,721
Unassigned (deficit) . . . . . . . . . . . . . . . . . . .

Total fund balances . . . . . . . . . . . . . . . . . . . 26,056,464 2,520,985 28,577,449

Total liabilities, deferred inflows of resources
and fund balances . . . . . . . . . . . . . . . . . . . . $ 67,331,740 $ 4,256,319 $ 71,588,059

SEE ACCOMPANYING NOTES TO THE BASIC FINANCIAL STATEMENTS

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