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Cayuga County Development Corporation – CCDC FY2014 Audited Financial Statements CCDC Audited Financial Statements FY2014 Page 1 Cayuga County Development Corporation FY 2014 Audited Financial Statements MANAGEMENT DISCUSSION AND ANALYSIS Introduction The Cayuga County Development Corporation (CCDC) annually conducts an independent financial audit. The FY2014 CCDC Annual Independent Financial Audit looked closely at the finance, internal controls and investments of the CCDC and reported its findings in the CCDC financial audit report. The FY2014 Management Discussion & Analysis is excerpted and presented herein. ---PAGE BREAK--- ---PAGE BREAK---