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HUDSON CITY SCHOOL DISTRICT
SUMMIT COUNTY, OHIO
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES
GOVERNMENTAL FUNDS
FOR THE FISCAL YEAR ENDED JUNE 30, 2015
General Nonmajor Total
Governmental Governmental
Funds Funds
Revenues: $ 43,333,058 $ 1,433,578 $ 44,766,636
From local sources:
Property taxes . . . . . . . . . . . . . . . . 484,788 500,000 984,788
Payment in lieu of taxes . . . . . . . . . . .
Tuition . . . . . . . . . . . . . . . . . . . . 641,669 - 641,669
Earnings on investments . . . . . . . . . . .
Charges for services . . . . . . . . . . . . . 37,808 872 38,680
Extracurricular . . . . . . . . . . . . . . . .
Classroom materials and fees. . . . . . . . . 2,069 1,201,321 1,203,390
Other local revenues . . . . . . . . . . . . .
Intergovernmental - intermediate . . . . . . . 442,581 406,354 848,935
Intergovernmental - state . . . . . . . . . . .
Intergovernmental - federal . . . . . . . . . . 361,002 - 361,002
Total revenues . . . . . . . . . . . . . . . . .
271,671 409,851 681,522
- 1,335,218 1,335,218
17,914,851 2,451,686 20,366,537
- 1,693,478 1,693,478
63,489,497 9,432,358 72,921,855
Expenditures: 24,683,203 2,448,018 27,131,221
Current: 8,232,997 710,679 8,943,676
Instruction: 267,533 2,000 269,533
1,279,304 10,800 1,290,104
Regular . . . . . . . . . . . . . . . . . . . .
Special . . . . . . . . . . . . . . . . . . . . 3,879,119 688,345 4,567,464
Vocational . . . . . . . . . . . . . . . . . . 1,901,288 86,749 1,988,037
Other . . . . . . . . . . . . . . . . . . . . . -
Support services: 70,249 70,249
Pupil. . . . . . . . . . . . . . . . . . . . . . 3,694,020 174,816 3,868,836
Instructional staff . . . . . . . . . . . . . . . 1,144,805 62,069 1,206,874
Board of education . . . . . . . . . . . . . . -
Administration . . . . . . . . . . . . . . . . 591,359 44,109 591,359
Fiscal . . . . . . . . . . . . . . . . . . . . . 4,893,377 4,937,486
Business . . . . . . . . . . . . . . . . . . . . 3,660,121 255,766 3,915,887
Operations and maintenance. . . . . . . . . . -
Pupil transportation . . . . . . . . . . . . . . 453,604 453,604
Central . . . . . . . . . . . . . . . . . . . . . 1,388,802
Operation of non-instructional services: - 5,306 1,388,802
Food service operations . . . . . . . . . . . . 6,000 11,306
Other non-instructional services . . . . . . . . 1,006,243 472,819
Extracurricular activities . . . . . . . . . . . . . 3,367,929 1,479,062
Facilities acquisition and construction . . . . . . - 3,367,929
Debt service: 875,000
Principal retirement . . . . . . . . . . . . . . . 620,843 625,114 1,495,843
Interest and fiscal charges . . . . . . . . . . . . 145,499 11,218,321 770,613
Total expenditures. . . . . . . . . . . . . . . . . 56,529,564
67,747,885
Excess (deficiency) of revenues over (under) 6,959,933 (1,785,963) 5,173,970
expenditures . . . . . . . . . . . . . . . . . . .
Other financing sources (uses): 16,935 - 16,935
Proceeds from sale of assets . . . . . . . . . . . - 1,645,000 1,645,000
Transfers in. . . . . . . . . . . . . . . . . . . . (1,219,000) (1,645,000)
Transfers (out) . . . . . . . . . . . . . . . . . . (426,000)
Total other financing sources (uses). . . . . . . . (409,065) 426,000 16,935
Net change in fund balances. . . . . . . . . . . . 6,550,868 (1,359,963) 5,190,905
Fund balances at beginning of year. . . . . . . 19,505,596 3,880,948 23,386,544
Fund balances at end of year . . . . . . . . . . $ 26,056,464 $ 2,520,985 $ 28,577,449
SEE ACCOMPANYING NOTES TO THE BASIC FINANCIAL STATEMENTS
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