As far as my experience with Techulator over the last one year ( four more days to go for completing one year on TEC), the site does not announce any annual awards. However, there are a few awards announced to recognise the contributions by members, but there is no specific schedule for the same. It is dependent on webmasters decision.
The idea put forth by Vandana is indeed excellent. It will definitely encourage the members to produce quality content. But, since it involves allocation of requisite funds- only webmasters, and Tony sir can shed more light on this matter.
Live....and Let Live!