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Draft period end or on demand financial statements are created after closing entries have been processed, initial identified anomalies resolved, the trial balance approved, and financial statement eliminations have been performed. Draft period-end financial statements will include Statement of Net Cost, Statement of Changes in Net Position, Statement of Budgetary Resources, Statement of Financing, and Statement of Custodial Activity. Draft on demand financial statements may include all of the previously listed financial statement or a subset identified by management. The draft period end or on-demand financial statements are then analyzed and provided to management and auditors for review. |