Town receives award for excellence in financial reporting
The Town of Stony Plain has received the prestigious Canadian Award for Financial Reporting (CAnFR) from the Government Finance Officers Association of the United States and Canada (GFOA) for its 2011 Annual Report, published in June 2012. The Town is the only Canadian municipal Town west of Ontario to receive this award, which is the highest form of recognition in the area of governmental accounting and financial reporting (2011 CAnFR winners).
"On a daily basis, the Town strives to achieve transparency, effective and honest communication and excellence in service,” says William Choy, mayor of Stony Plain. “This award recognizes the hard work to make these goals a reality. It assures our residents and stakeholders that the Town uses sound, accurate accounting and financial reporting practices. It also demonstrates our commitment to clear accountability.”
Established by the GFOA in 1986, the CAnFR Program encourages municipal governments throughout Canada to publish high-quality financial reports that go beyond the minimum requirements of generally accepted accounting principles (as set by the Public Sector Accounting Board of the Canadian Institute of Chartered Accounts).
A municipality that receives this award demonstrate a spirit of transparency and full disclosure to clearly communicate its financial story and annual accomplishments and to motivate potential users and user groups to read its report, which also provides peer-recognition and technical guidance for officials preparing these reports.
The Town’s Report was reviewed by selected members of the GFOA’s professional staff and an impartial review committee, comprised of individuals with expertise in Canadian public-sector financial reporting, including financial statement preparers, independent auditors, academics and other finance professionals.
A collaborative effort between the Town’s Director of Corporate Services, the Manager of Financial Services and the Corporate Communications Coordinator, the 2011 Annual Report was also submitted to the International Association of Business Communicators (IABC) and the Canadian Public Relations Society (CPRS) for consideration for those associations’ award programs.
The Report consists of three sections, which are used as joint and stand-alone documents:
• Section 1: general information about the organization, a community profile and a comprehensive year-in-review;
• Section 2: annual audited financial statements; and
• Section 3: statistics.
Council officially accepted the award at its regular meeting on Mon., April 8, 2013, and the Town received the award plaque from the GFOA in late-April. The Town is in the process of putting together its 2012 Annual Report, which will be submitted to the GFOA, CPRS and the IABC.
Download the 2011 Annual Report can be downloaded in full, or by individual sections, here.
About the GFOA
The GFOA is a non-profit professional association serving more than 17,500 government finance professionals in the United States and Canada, with offices in Chicago, IL and Washington, D.C. (gfoa.org).