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Lyons Township High School Set to Receive Funds from TTO

After a lengthy and costly legal battle, Lyons Township High School (LTHS) is finally set to receive the majority of the funds it is due from the Township Treasurers Organization (TTO). Getty, the representative of the TTO, announced that the organization will liquidate part of its portfolio of short-term financial instruments to send LTHS the money. According to Thiessen, President of the TTO board, the high school can expect to receive the bulk of the funds soon.

The lawsuit, which reportedly cost the TTO more than $4 million in legal fees, was brought by LTHS and its supporters against the TTO over a dispute regarding underpayment assessments. In June 2018, Judge Esrig ruled that while the TTO could debit LTHS' account for underpayment of assessments since 2014, it rejected the TTO's claim that LTHS owed approximately $6 million for underpayments from 2000 to 2012.

The resolution of this chapter marks a significant milestone for LTHS and its supporters. As Thiessen noted, 'It will be nice to put this chapter behind us.' The TTO still has a role to play in investing money and performing business functions for other school districts in Lyons Township, including paying bills and cutting checks.

Under legislation passed by the Illinois General Assembly several years ago, LTHS was granted permission to withdraw from the TTO after the lawsuit was resolved. With this development, LTHS can now focus on moving forward without the burden of this prolonged dispute.

As a result of the agreement, LTHS is set to receive its due funds from the TTO, marking an end to a costly and time-consuming ordeal.

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