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HUDSON CITY SCHOOL DISTRICT
SUMMIT COUNTY, OHIO
RECONCILIATION OF TOTAL GOVERNMENTAL FUND BALANCES TO
NET POSITION OF GOVERNMENTAL ACTIVITIES
JUNE 30, 2015
Total governmental fund balances $ 28,577,449
Amounts reported for governmental activities on the 57,382,419
statement of net position are different because:
1,331,190
Capital assets used in governmental activities are not financial 3,193,389
resources and therefore are not reported in the funds.
(89,916)
Other long-term assets are not available to pay for current- $ 1,156,734 1,534,659
period expenditures and therefore are deferred inflows in the funds. 114,616
59,840 (62,883)
Property taxes receivable
Accrued interest receivable (88,563,620)
Intergovernmental receivable
Total (24,416,825)
(21,114,138)
An internal service fund is used by management to charge the
costs of insurance to individual funds. The assets and
liabilities of the internal service fund are included in
governmental activities on the statement of net position.
Unamortized premiums on bonds issued are not recognized
in the funds.
Deferred amounts on refundings are not recognized in the funds.
Accrued interest payable is not due and payable in the
current period and therefore is not reported in the funds.
The net pension liability is not due and payable in the current period, 5,792,976
therefore, the liability and related deferred inflows and outflows of (14,447,242)
resources are not reported in governmental funds. (79,909,354)
Deferred outflows of resources - pension
Deferred inflows of resources - pension
Net pension liability
Total
Long-term liabilities, including bonds payable, are not due and (3,085,000)
payable in the current period and therefore are not reported (17,385,000)
in the funds.
(712,899)
General obligation bonds (61,158)
Certificates of participation
Capital lease obligations (3,172,768)
Software license obligation
Compensated absences
Total
Net position of governmental activities $
SEE ACCOMPANYING NOTES TO THE BASIC FINANCIAL STATEMENTS
F 25
