The Required Charter School
Management’s Discussion & Analysis (MD&A)

As you close the books on another fiscal year, and begin to prepare for your annual audit, AAFCPAs advises our Charter School clients to take some time now to review the content of your Management’s Discussion and Analysis (MD&A). The MD&A is a narrative introduction to your annual audited financial report, and is required supplementary information for all Charter Schools per the Government Accounting Standards Board (GASB).  Your MD&A is intended to provide users with the information they need to help them assess whether the school’s financial position has improved or deteriorated as a result of the year’s operations, and whether to invest or continue to invest in your organization.

In this PDF

• What makes for a good MD&A?
• What should be included in your MD&A?
• What does this all mean?