The Town of Okotoks has received recognition for financial reporting for the 2023 Annual Report.
The town recently won the Canadian Award for Financial Reporting (CAnFR) from the Government Finance Officers Association (GFOA) of the United States and Canada for the fifth year.
"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,” said Ralph Ettenauer, Chief Financial Officer (CFO). “This commitment to transparency and accountability reflects our dedication to strong local governance."
The CAnFR program encourages municipalities to publish high-quality financial reports and provides those involved in preparing them with recognition and guidance.
To qualify for the award, municipalities must exceed the basic requirements of generally accepted accounting principles (GAAP) set by the Public Sector Accounting Board of the Canadian Institute of Chartered Accountants.
The town's 2023 Annual Report was reviewed by an impartial Canadian Review Committee and met the program’s standards, including a strong spirit of full disclosure and clear communication of the municipality's finances.
“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,” said Elaine Vincent, Chief Administrative Officer (CAO). “Each year, we refine the report to reflect evolving expectations from both council and residents.”
The town-audited 2024 Financial Statements are available online, and will be included in the 2024 Annual Report, to be published in June.
The 2024 Annual Report will be prepared in alignment with GFOA standards, incorporate feedback received from previous submissions, and be submitted for the CAnFR later this year.