Sound finances recognized :::
Standard & Poors recently gave LTHS the financial equivalent of a Stanley Cup, an Oscar or
even a Grammy, awarding the district AAA status, the highest possible bond rating. LTHS joins just
20 other districts across the state to earn the coveted rating.
Every year, LT provides updated information as requested and the most recent Comprehensive
Annual Financial Report. The upgraded rating is a testament to the district’s sound financial
planning and stability.
According to Director of Business Services David Sellers, “This is wonderful news and will
save us money in our interest rate expense when we next issue bonded debt.”
A top bond rating means the district can spend less to borrow money. The last time LT issued
bonds was in 2003-2004, with just over $17 million. Those monies allowed the district to build a
new pool and fieldhouse at South Campus, renovate the Performing Arts Center at South Campus and
music rooms at North Campus, as well as a variety of necessary and long-overdue facility
improvement.
Board President Mark Pera said, “The new and improved bond rating speaks to the fiscal
responsibility shown by this and previous boards. While other local governmental bodies are cutting
staff and programing, we have a long history of being frugal with the taxpayers money, spending
within our means.”