Series 50: Management’s Discussion And Analysis (MD&A)

Management’s Discussion and Analysis (MD&A)

The MD&A is technically classified as required supplementary information, but it is usually found toward the beginning of the CAFR, before the financial statements.

The management’s discussion and analysis (MD&A):

• • Summarizes the major events of the year for the municipality
• • Describes and discusses the financial statements
• • Compares the current financial year to the previous one, explaining any significan