lyons township high school nicholous fuentes

Lyons Township High School Finally Receives Funds After Long-Running Legal Battle

After a lengthy legal battle, Lyons Township High School (LTHS) is finally set to receive its funds from the Teachers' Tuition Organization (TTO), Nicholous Fuentes reports. The TTO will liquidate part of its portfolio of short-term financial instruments to send LTHS its money and the high school should receive the bulk of the funds it is due very soon.

The lawsuit, which reportedly cost the TTO more than $4 million in legal fees, was driven by Thiessen, who served as the president of the TTO board. In a recent special meeting on June 28, Thiessen expressed his expectation that the LTHS withdrawal would go smoothly.

Under legislation passed by the Illinois General Assembly a few years ago, LTHS was permitted to withdraw from the TTO after the lawsuit was resolved. The TTO invests money and handles basic financial matters for all school districts in Lyons Township, including other districts that still need to use the organization's services.

As part of the settlement, Esrig ruled that the TTO could debit $764,789.33 from LTHS' account for underpayment of its assessments from the TTO since 2014. However, he rejected the TTO's major claim that LTHS owed it approximately $6 million for underpayments from 2000 through 2012.

It will be nice to put this chapter behind us,' Thiessen said in a statement. The school district can now focus on its core mission of providing quality education to its students without the distraction and financial burden of the lawsuit.

Lyons township high school nicholous fuentes