(Analysis of a budgetary comparison statement in a CAFR)

Obtain a CAFR from a governmental unit and read the budgetary comparison statement. Also, read what management says in its MD\&A, if anything, about the results of its budgetary activities for the year. What conclusions can you reach from reading the budgetary comparison statement? How do management's comments in the MD\&A improve your understanding of the budgetary comparison statement?