Okotoks, AB: The Town of Okotoks is proud to once again be 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 2023 Annual Report.
This marks the fifth year in a row that the Town of Okotoks has earned the award, which reflects the Town’s ongoing commitment to high standards in financial reporting, transparency, and public accountability. The CAnFR Program encourages Canadian municipalities to publish high-quality financial reports and provides professional recognition and guidance to those involved in preparing them. Earning this award is considered a significant accomplishment for any government organization and its management team.
To qualify, municipalities must go beyond the basic requirements of generally accepted accounting principles (GAAP) as set by the Public Sector Accounting Board of the Canadian Institute of Chartered Accountants.
Okotoks’ 2023 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. To view the award-winning report online, visit okotoks.ca/annual-report.
The audited 2024 Financial Statements, approved by Council earlier this month, are now available at okotoks.ca/financial-statements and will be included in the 2024 Annual Report, to be published in June 2025. The 2024 Annual Report will also be prepared in alignment with GFOA standards and will incorporate feedback received from previous submissions. It will also be submitted for consideration for another Canadian Award for Financial Reporting later this year.
Quotes:
"The Annual Report is one of the key ways the Town educates the community about our financial operations. We are proud to provide financial reporting that not only meets, but exceeds, national standards. This commitment to transparency and accountability reflects our dedication to strong local governance." – Ralph Ettenauer, Chief Financial Officer
“The Annual Report is one of the most important ways we communicate transparently with our community about the Town’s strategic priorities, outcomes and financial performance. Each year, we refine the report to reflect evolving expectations from both Council and residents. Receiving national recognition for our 2023 Annual Report reinforces our ongoing commitment to strong local governance and clear, accountable reporting.” – Elaine Vincent, Chief Administrative Officer
Photo of CAnFR award and recipients (L to R: Councillor Ken Heemeryck, Councillor Oliver Hallmark; Mayor Tanya Thorn, CFO Ralph Ettenauer, CAO Elaine Vincent, Councillor Gord Lang, Councillor Rachel Swendseid, Councillor Brent Robinson)
