The Town of Okotoks has once again been recognized for excellence in financial reporting, receiving the Canadian Award for Financial Reporting (CAnFR) from the Government Finance Officers Association (GFOA) of the United States and Canada for its 2024 Annual Report. This marks the sixth consecutive year the Town has earned the national award, reflecting Okotoks’ continued commitment to transparency, accountability, and excellence in municipal governance. In 2024, approximately 20 municipalities in Alberta and just over 80 municipalities across Canada received this recognition, underscoring the significance of the achievement.
“Our Annual Report is one of the ways the Town educates the community about our financial operations,” said Mayor Thorn. “We are proud to provide financial reporting that exceeds national standards. This commitment to transparency and accountability reflects our dedication to strong local governance and meaningful reporting to our community.”
The award highlights the Town’s priority of providing residents with clear, transparent, and accessible reporting on how public funds are managed and invested. To qualify, municipalities must go beyond the basic requirements of generally accepted accounting principles (GAAP) established by the Public Sector Accounting Board of the Canadian Institute of Chartered Accountants. Okotoks’ 2024 Annual Report was reviewed by an impartial Canadian Review Committee and found to meet the program’s rigorous standards, including a strong “spirit of full disclosure” and clear communication of the Town’s financial story. The award is valid for a one-year period.
“The Annual Report helps us share, in a clear way, how the Town is doing—our goals, our service results, and our finances,” said CAO Elaine Vincent. “Each year we improve it based on what Council and residents need. This national award shows our ongoing commitment to open, clear, and easy-to-read reporting.”
The audited 2025 Financial Statements, approved by Council, are now available at okotoks.ca/financial-statements. The statements will also be incorporated into the 2025 Annual Report, scheduled for publication in June 2026. The Town’s 2025 Annual Report will again be prepared in alignment with GFOA standards and submitted for consideration through the Canadian Award for Financial Reporting program later this year. The 2024 Annual Report can be viewed online at okotoks.ca/annual-report.
