Town of Olds management is responsible for the preparation of the financial statements and for internal controls to enable the preparation of these statements. The Town of Olds is required by the Municipal Government Act to have an independent financial audit performed annually. The audited financial statements are presented and approved by council in April of each year and submitted to the Province of Alberta prior to May 1 .
Financial Indicator Graphs
The Province of Alberta releases financial indicator graphs at the end of the year for the past fiscal period. The graphs serve as a tool in assessing past performances and assist with budget planning. Municipalities are compared to a group of similar towns or cities in the province.