The Town of Okotoks is pleased to have received the Canadian Award for Financial Reporting for its 2020 Annual Report through the Government Finance Officers Association (GFOA) of the United States and Canada. The Town also won this prestigious award in 2021 for the 2019 Annual Report.
“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 transparent and 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 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. “We strive to be leaders in government financial reporting, and the Annual Report is one of many reports we use to educate our community and strengthen our relationship through transparency.”
Last year only 78 municipalities across Canada won this prestigious award, with only 17 municipalities represented in Alberta.
The digital copy of the 2020 Annual Report was the main resource for the community. Limited printed copies are still available at the Municipal Centre and the Okotoks Public Library. The 2021 Annual Report will be published in June 2022 and will continue to meet the GFOA standards, while also including additional enhancements and recommendations from the award committee.