Page 39 - Hudson CAFR Report 2018
P. 39

HUDSON CITY SCHOOL DISTRICT
                            SUMMIT COUNTY, OHIO

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

                                             (UNAUDITED)

The following graphs show the breakdown of governmental activities capital assets by category for 2018 and 2017.

Capital Assets - Governmental Activities                Capital Assets - Governmental Activities
                       2018                                                    2017

            Vehicles  Computer  CIP                                 Vehicles  Computer           Furniture and
               3%     software  1% Furniture and                       3%     software            equipment
                                                                                                       6%
                          0%                 equipment                            0%
                                                  7%

                                Land                                                             Land
                                 2%                                                               2%

Building &                      Land Imp.               Building &                               Land Imp.
    Imp.                            8%                      Imp.                                     8%
    79%                                                     81%

See Note 7 in the notes to the basic financial statements for more information on the District’s capital assets.

Debt Administration

At June 30, 2018, the District had $100,140,888 in general obligation bonds, certificates of participation and capital
leases outstanding. Of this total, $4,967,944 is due within one year and $95,172,944 is due in greater than one year. The
following table summarizes the District’s outstanding debt.

                                Outstanding Debt, at Year End

            Energy Conservation Bonds                   Governmental          Governmental
            Qualified School Construction Bonds            Activities           Activities
            Certificates of Participation                    2018                  2017
            School Improvement Bonds - Series 2018
            Capital Leases                              $ 905,000             $ 1,105,000
                                                             1,135,000            1,285,000
            Total
                                                           15,525,000            16,165,000
                                                           81,550,000                         -

                                                             1,025,888               355,113

                                                        $ 100,140,888         $ 18,910,113

All bonds are general obligations of the District for which the full faith and credit of the District is pledged for
repayment. Additions to long-term debt in fiscal year 2018 included general obligation bonds of $81,550,000 and a
capital lease in the amount of $1,190,970 to replace copiers acquired under a previous capital lease. Total debt
retirements for the year amounted to $1,510,195.

See Note 8 in the notes to the basic financial statements for more information on the District’s debt administration.

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