FEMA's Sandy Analysis Team reviewed all aspects of the Agency's preparation for, immediate response to, and initial recovery from the storm. This report contains the findings of that review. While FEMA coordinates disaster response and recovery efforts across the Federal Government and works closely with non-Federal Whole Community partners, this report focuses on identified strengths and areas for improvement within FEMA. The analyses detailed in the report concentrate on FEMA activities in New York and New Jersey, where the scale and severity of Sandy's impacts most stressed the Agency's capabilities. By examining the events in these states, the Agency can identify where and how it must improve.