Okotoks, AB: The Town of Okotoks has received the Canadian Award for Excellence in Financial Reporting (CAnFR) from the Government Finance Officers Association (GFOA) for the Town’s 2019 Annual Report.
“This is the first time the Town has modeled the report based on these standards, and it is a great honour to be recognized with this prestigious award for our work,” said CFO Ralph Ettenauer.
This award represents a significant accomplishment by a government and its management, with an average of only 85 communities throughout Canada receiving it annually.
The annual report was judged by members of an impartial Canadian Review Committee to meet the high standards of the program, with the expectation for municipalities to prepare comprehensive financial reports with transparency and full disclosure. 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.
“Administration wrote the report with the spirit of full disclosure to encourage residents and businesses to use it as a main source of information about the Town’s strategic and financial position,” said CAO Elaine Vincent. “We are proud to provide transparent financial reporting that exceeds national standards to the residents of Okotoks.”
The digital copy was the main resource for the community, with a limited amount of printed copies. Hard copies of the 2019 Annual Report are still available at the Municipal Centre and the Okotoks Library. The 2020 Annual Report will be published in June 2021 and will continue to meet the GFOA standards, but will also include additional enhancements and elements recommended by the award committee. The 2019 Annual Report was also the recipient of a Platinum Marcom award for Government Annual Report writing, which was announced in November 2020.