Page 33 - Hudson CAFR Report 2018

HUDSON CITY SCHOOL DISTRICT
SUMMIT COUNTY, OHIO

MANAGEMENT’S DISCUSSION AND ANALYSIS
FOR THE FISCAL YEAR ENDED JUNE 30, 2018

(UNAUDITED)

Change in Net Position

Governmental Business-Type

Activities Activities Total
(Restated)
(Restated) (Restated) 2017

2018 2017 2018 2017 2018

Revenues $ 3,575,939 $ 3,293,692 $1,492,116 $1,443,154 $ 5,068,055 $ 4,736,846
Program revenues: 5,304,558 5,441,183 - - 5,304,558 5,441,183
73,945 70,605 - - 73,945 70,605
Charges for services and sales
Operating grants and contributions 49,265,537 38,551,749 - - 49,265,537 38,551,749
Capital grants and contributions 658,751 566,274 - - 658,751 566,274
General revenues: 88,544 56,635
Property taxes 16,768,399 17,952,080 - - 16,856,943 18,008,715
Payments in lieu of taxes 634,979 332,259 - - 634,979 332,259
Unrestricted grants and entitlements 390,649 421,053 390,649 421,053
Investment earnings 1,580,660 1,499,789
Miscellaneous 76,672,757 66,628,895 78,253,417 68,128,684

Total revenues 14,523,016 30,223,535 - - 14,523,016 30,223,535

Expenses 4,090,861 10,092,995 - - 4,090,861 10,092,995
Instruction:
181,299 369,409 - - 181,299 369,409
Regular
Special 1,578,566 1,261,399 - - 1,578,566 1,261,399
Vocational
Other 2,678,981 4,996,693 - - 2,678,981 4,996,693
Support services:
Pupil 1,086,954 2,293,445 - - 1,086,954 2,293,445
Instructional staff
Board of education 145,139 78,835 - - 145,139 78,835
Administration
Fiscal 1,111,112 4,414,001 - - 1,111,112 4,414,001
Business
Operations and maintenance 931,623 1,411,686 - - 931,623 1,411,686
Pupil transportation
Central 219,975 663,107 - - 219,975 663,107
Operation of non-instructional services:
Food service operations 3,861,761 5,786,325 - - 3,861,761 5,786,325
Other non-instructional services
Extracurricular activities 4,200,710 3,890,981 - - 4,200,710 3,890,981
Interest and fiscal charges
on long-term debt 313,408 568,679 - - 313,408 568,679
Community education
1,008,011 1,615,311 - - 1,008,011 1,615,311
Total expenses
39,015 50,180 - - 39,015 50,180
Changes in net position
1,250,184 1,978,779 - - 1,250,184 1,978,779
Net position at beginning of year
2,257,648 766,121 - - 2,257,648 766,121
Net position at end of year - - 1,318,933 1,467,886 1,318,933 1,467,886

39,478,263 70,461,481 1,318,933 1,467,886 40,797,196 71,929,367

37,194,494 (3,832,586) 261,727 31,903 37,456,221 (3,800,683)

(41,685,098) N/A (270,350) N/A (41,955,448) N/A

$ (4,490,604) $ (41,685,098) $ (8,623) $ (270,350) $ (4,499,227) $ (41,955,448)

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