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HUDSON CITY SCHOOL DISTRICT
SUMMIT COUNTY, OHIO

STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN
FUND BALANCE - BUDGET AND ACTUAL (NON-GAAP BUDGETARY BASIS)

GENERAL FUND
FOR THE FISCAL YEAR ENDED JUNE 30, 2015

Budgeted Amounts Variance with
Final Budget
Original Final Actual
Positive
Revenues: $ 44,416,640 $ 44,416,640 $ 40,950,962 (Negative)
From local sources:
Property taxes. . . . . . . . . . . . . . . . 566,244 566,244 484,788 $ (3,465,678)
(81,456)
Payment in lieu of taxes. . . . . . . . . . . 756,750 756,750 553,478
Tuition. . . . . . . . . . . . . . . . . . . . (203,272)
Earnings on investments. . . . . . . . . . . 60,316 60,316 37,808 (22,508)
Extracurricular. . . . . . . . . . . . . . . . (28,975)
Classroom materials and fees . . . . . . . . 321,355 321,355 292,380 (11,333)
Other local revenues . . . . . . . . . . . . . 3,740
Intergovernmental - state . . . . . . . . . . . 125,795 125,795 114,462
Total revenues . . . . . . . . . . . . . . . . . (747,507)
111,843 111,843 115,583 (4,556,989)

18,987,519 18,987,519 18,240,012

65,346,462 65,346,462 60,789,473

Expenditures: 25,805,494 25,805,494 24,706,453 1,099,041
Current: 8,256,423 8,256,423 8,205,647 50,776
Instruction: 270,735 270,735 268,456 2,279
1,631,909 1,631,909 1,394,114
Regular . . . . . . . . . . . . . . . . . . . 237,795
Special. . . . . . . . . . . . . . . . . . . . 3,873,256 3,873,256 3,715,670
Vocational. . . . . . . . . . . . . . . . . . 1,947,600 1,947,600 1,929,698 157,586
Other. . . . . . . . . . . . . . . . . . . . . 17,902
Support services: 94,502 94,502 78,485 16,017
Pupil. . . . . . . . . . . . . . . . . . . . . 4,104,716 4,104,716 3,901,802
Instructional staff . . . . . . . . . . . . . . 1,813,696 1,813,696 1,404,436 202,914
Board of education . . . . . . . . . . . . . 409,260
Administration. . . . . . . . . . . . . . . . 586,531 586,531 596,939 (10,408)
Fiscal . . . . . . . . . . . . . . . . . . . . 4,987,370 4,987,370 5,062,963 (75,593)
Business. . . . . . . . . . . . . . . . . . . 3,757,869 3,757,869 3,728,300
Operations and maintenance . . . . . . . . 29,569
Pupil transportation . . . . . . . . . . . . . 639,867 639,867 648,015 (8,148)
Central. . . . . . . . . . . . . . . . . . . . 1,087,392 1,087,392 1,011,990 75,402
Extracurricular activities . . . . . . . . . . .
Debt service: 345,000 345,000 345,000 -
Principal . . . . . . . . . . . . . . . . . . . 84,000 84,000 83,702 298
Interest and fiscal charges . . . . . . . . . . 2,204,690
59,286,360 59,286,360 57,081,670
Total expenditures . . . . . . . . . . . . . . .

Excess of revenues over expenditures . . . . . 6,060,102 6,060,102 3,707,803 (2,352,299)

Other financing sources (uses): 2,966 2,966 16,935 13,969
Proceeds from sale of assets . . . . . . . . .
165,896 165,896 395,525 229,629
Refund of prior year's expenditures. . . . . . (20) (20) (20) -
Refund of prior year's receipts . . . . . . . .
Transfers (out) . . . . . . . . . . . . . . . . (427,000) (427,000) (426,000) 1,000
Total other financing sources (uses) . . . . . . (258,158) (258,158) (13,560) 244,598

Net change in fund balance. . . . . . . . . . . 5,801,944 5,801,944 3,694,243 (2,107,701)

Fund balance at beginning of year. . . . . . 18,353,640 18,353,640 18,353,640 -
Prior year encumbrances appropriated . . . -
Fund balance at end of year . . . . . . . . . 813,380 813,380 813,380 (2,107,701)

$ 24,968,964 $ 24,968,964 $ 22,861,263 $

SEE ACCOMPANYING NOTES TO THE BASIC FINANCIAL STATEMENTS

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