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MD&A
•New requirement of GASB 34
•Required supplementary information – subject to “in-relation” audit opinion
•Provides an objective and easy to read analysis of financial status and current activities
•Not required to restate prior years for comparative purposes – in year of implementation
Description of required financial statements should include the differences between the government wide perspective and the fund perspective.

Condensed government wide information will be in the tradition financial statements format, not the net costs format.

Discussion of overall financial condition should focus on how the financial condition has changed over the past year.