Page 127 - Hudson CAFR Report 2018

HUDSON CITY SCHOOL DISTRICT
SUMMIT COUNTY, OHIO
FUND DESCRIPTIONS

NONMAJOR GOVERNMENTAL FUNDS (CONTINUED)
CAPITAL PROJECTS FUND

The capital projects funds account for the receipts and disbursements of monies used for the acquisition, construction or major renovation of capital
facilities (other than those financed by enterprise funds).

Permanent Improvement - The permanent improvement fund may be used for acquiring real estate for school purposes; for constructing,
adding to, remodeling and improving school buildings. Such expenditures shall add permanently to the school land or buildings, or
extend the useful life of existing buildings for five years or more. The fund may also be used for landscaping and making other school
site improvements which have an anticipated useful life of five years or more.

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