The Town of Okotoks is pleased to once again receive the Canadian Award for Financial Reporting (CAnFR) for its 2022 Annual Report through the Government Finance Officers Association (GFOA) of the United States and Canada. The Town previously won this award for its 2019, 2020 and 2021 Annual Reports, setting forth a higher standard of excellence in preparing these financial reports while providing full disclosure and transparency to the community.
The Canadian Award for Financial Reporting Program was established to encourage municipal governments throughout Canada to publish high-quality financial reports and to provide peer recognition and technical guidance for Town Administration preparing the report. Its attainment represents a significant accomplishment by a government and its management. Municipalities applying for this award must go beyond the minimum requirements of generally accepted accounting principles set by the Public Sector Accounting Board of the Canadian Institute of Chartered Accountants. The Town’s Annual report was judged by impartial Canadian Review Committee members to meet the high standards of the program, including demonstrating a constructive “spirit of full disclosure” designed to clearly communicate the municipality’s financial story and to motivate individuals to read the report.
Council approved the Town’s 2023 Financial Statements in April 2024, which were audited by an external independent accounting firm. The 2024 Financial statements are published to the Town website and can be reviewed at okotoks.ca/financial-statements. These statements will be published in the 2023 Annual Report, and available online June 30 with printed copies available on July 15 at the Okotoks Municipal Centre and Okotoks Library. The 2023 Annual Report was also written to meet GFOA standards, and includes additional feedback provided by the award committee. As a result, we believe our 2023 Annual Report continues to conform to the Canadian Award for Financial Reporting program requirements, and will be submitted to GFOA to determine its eligibility for another award. A Canadian Award for Financial Reporting is valid for a period of one year.
Quotes:
“The Annual Report is one of the many ways the Town can educate the community on the organization’s financial operations, and we are proud to provide transparent financial reporting that exceeds national standards to the residents of Okotoks. We continue to commit to providing accountable leadership in local governance and encourage the use of the Annual Report as a main source of information about the Town’s strategic and financial position.” - CFO Ralph Ettenauer
“I am very pleased to see the Town, once again, receive the Canadian Award for Financial Reporting award by the Government Finance Officers Association of the United States and Canada (GFOA). This tells us that the Town continues to deliver comprehensive and transparent financial reporting to our community. Our Annual Report is one of many ways that we educate and strengthen our relationship with our community.” - CAO Elaine Vincent