The Oak Lawn-Hometown School District 123 business office has once again been recognized for its outstanding financial management, earning the Certificate of Excellence in Financial Reporting for Fiscal Year 2024 from the Association of School Business Officials International (ASBO). This marks the fourth consecutive year the District has received this prestigious honor. The continued recognition from ASBO emphasizes the District’s commitment to fiscal responsibility and financial excellence.
This achievement recognizes districts across the country that meet the program’s high standards for financial reporting and transparency. District 123 earned the Certificate of Excellence in Financial Reporting for its Annual Comprehensive Financial Report for the fiscal year ending in June 2024.
“For over half a century, ASBO International’s Certificate of Excellence in Financial Reporting has been the gold standard for promoting and recognizing excellence in financial transparency,” said Jim Rowan, CAE, SFO, Executive Director of ASBO International. “Clear and accurate financial reporting is crucial for engaging school communities and building their trust. Districts that earn the COE have demonstrated an extraordinary commitment to these principles.”
The award reflects more than just exceptional internal reporting. It also strengthens the District’s position in the financial marketplace. Transparent and accurate financial reporting can positively influence bond ratings, which measure an organization’s creditworthiness. Strong ratings may lead to lower interest rates on bonds, ultimately benefiting taxpayers through potential savings.
Oak Lawn-Hometown School District 123's accolades highlight its dedication to financial excellence, which in turn could streamline bond rating processes and facilitate better borrowing terms. This recognition further enhances the district's reputation, underscoring its commitment to maintaining the highest standards in school business.