A "draft report" refers to an initial version or a preliminary document that is created before the final report is made. It is not yet complete or fully polished, and may still require editing or revisions.
Late last week, a Web site that claims that there is no scientific consensus on global warming published a leaked draft report on the impacts of global warming. (nofrakkingconsensus.com)
Draft report of investigation findings and submit reports to senior management. (jobhero.com)
I am also drafting reports for appeals against any judgment or for closing the case. (bestcoverletters.com)