12
MD&A – Key Elements
•
Primarily impacts the OCG and financial
statement preparers
•
Brief description of basic statements
•
Significant variances
•
Analysis of budgetary changes and
results
•
Description of capital asset and long-term
debt activity
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.