Another one who's kiddo developed thyroid problems on lithium (monster goiter - we're talking just huge). He also was on Synthroid for a couple of years.
My personal bias would be going for Depakote or Tegretol as mood stabilizers first. While lithium is the gold standard in adults, there was not a huge database on pediatric use when thank you started it (he was started on it because they felt that he needed it on top of Depakote - new psychiatrist in Residential Treatment Center (RTC) #1 - it never did make a difference and I adamantly requested that the lithium be stopped when the goiter developed). With Depakote and Tegretol, at least you have the data that's been developed over the years because those medications are also used in kids with- epilepsy.
Just my 2 cents.