The Town of Okotoks is pleased to have received the Canadian Award for Financial Reporting (CAnFR) for its 2021 Annual Report through the Government Finance Officers Association (GFOA) of the United States and Canada. The Town previously won this prestigious award for both the 2019 and 2020 Annual Reports, setting a higher standard of excellence in preparing these financial reports while providing full-disclosure and transparency to the community.
“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,” said CFO Ralph Ettenauer. “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.”
Municipalities applying for this prestigious 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 report was judged by an impartial Canadian Review Committee 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.
“The third-party reviewer outside of the auditor and the Corporate Finance business centre gives another layer of assurance that we are going above and beyond and represents a significant accomplishment by a government and its management,” said CAO Elaine Vincent. “The Annual Report is one of many reports we use to educate our community and strengthen our relationship with residents through transparency.”
Last year only 80 municipalities across Canada won this prestigious award, with only 18 municipalities represented in Alberta.
Council approved the Town of Okotoks’ 2022 Financial Statements at the April 24 meeting, audited by an external independent accounting firm. The statements can be reviewed at okotoks.ca/financial-statements. These statements are published in the 2022 Annual Report, which has been recently posted to the Town website at https://www.okotoks.ca/annual-report. The 2022 Annual Report was also written to continue to meet the GFOA standards, while also including additional enhancements and recommendations from the 2021 award committee. Printed copies of the 2022 Annual Report will be made available for pick up the week of July 10 at the Okotoks Municipal Centre and Okotoks Public Library.
View the 2022 and the 2021 award-winning Annual Report online
