The continuing efforts of Oak Lawn-Hometown School District 123 to remain transparent and openly communicate yearly budget information to the community has been recognized once again by The Association of School Business Officials International (ASBO). ASBO has awarded District 123 with its Meritorious Budget Award (MBA) for excellence in a budget presentation for the 2020-2021 budget year.School districts from across the nation submit their budget documents to ASBO’s panel of financial professionals for review. The budget documents are then assessed against a strict criteria for compliance.
“The MBA review process provides the district with feedback in creating a comprehensive financial projection that is improved every year. This provides our community a budget document that is transparent and communicates to all District 123 stakeholders the financial path of the district. The document explains both the why and the how of our school district’s finances.” -Dr. Michael Loftin, Assistant Superintendent for Business at District 123.
In addition to the recognition, and transparency to the community it provides, expert school finance reviewers provide feedback on the budget document and presentation.
“Districts that apply for the Meritorious Budget Award program recognize the importance of presenting a quality, easy-to-understand budget internally and to the community. Participating in the MBA provides districts with important tools and resources they need to communicate the district’s goals and objectives clearly and illustrates their commitment to adhering to nationally recognized budget presentation standards.” -David J. Lewis, ASBO International Executive Director.
This is the seventh consecutive year District 123 has received the honor and is a distinction that less than 2% of Illinois school districts achieve.
“Our School District 123 Strategic Plan holds us accountable to the community for the responsible use of community resources and fiscal transparency. This award reflects District 123’s commitment to sound fiscal management and budgetary policy. Our Chief School Business Official, Dr. Mike Loftin and our business office staff work hard to prepare comprehensive and clear budgetary reports for our community, and I appreciate their high standards and on-going effort. We are very proud of this accomplishment and will continue to provide the community this level of transparency,” -Dr. Paul Enderle, Superintendent