LASD Saves Taxpayers $2.7M

LASD Assistant Superintendent for Business Affairs Randy Kenyon came to the Board last year to recommend refinancing the District's outstanding general obligation bonds.  You can't refinance bonds every time you think of it, so it has to be done wisely.  Once the Board approved, Randy lined up meetings with ratings agencies to discuss District financials.  He spent a full day going through our financials with them.  In the end, the ratings agencies were impressed, and we have one of the highest credit ratings of any school district in CA.

This week, we got to see the fruits of all that work.  We refinanced our bonds at a new low rate of 1.19%, saving our local community more than $2.5M of our tax dollars (that would eventually be used to pay the interest).  Amongst the other news this week, it would be a shame if this didn't get noticed.  When we talk about the work that Randy Kenyon has to do, this is all part of it.  Thanks, Randy!


Press Release: LASD Saves Local Taxpayers More Than $2.5M

A New Superintendent

Some of you may be aware that Tim Justus, our current Superintendent, will be retiring after this year. Filling this vacany is actually one of the most important things we'll do as a Board. While the Board sets District policy, it is the Superintendent who executes against that vision. In a public company, it's the CEO who leads the team. Our Superintendent is much the same.

The District has retained Leadership Associates, a search firm that specializes in superintendent searches. We have worked with Leadership Associaates in other capacities, and their team also comes highly recommented by Palo Alto and Los Gatos.

This is the time to start thinking about what you want in a new superintendent. I'd welcome comments and feedback on what you consider important. Ideas and thoughts can either be posted here as comments, or sent via email to doug@smith4lasd.com