using player time as highscore

I've got a racing style game (get round as quickly as possible, any hoops missed = 10 second penalty added on at the end.) what i would like is to take that final time and save it locally for a leader board (no servers at this point).

is this possible?

I have the following code in place (still need to add the time penatly aspect)

 var startTime : float;
 var textTime : float;
 
 function onTriggerEnter ()
 {
 if (gameObject.tag =="StartHoop")
 {
 startTime = Time.time;
 yield WaitForSeconds(destroyTime);
 Destroy(gameObject);
 }
 }
 
 function OnGUI
 {
 var guiTime = Time.time-startTime;
 var minutes : int = guiTime/60;
 var seconds : int = guiTime% 60;
 var fraction : int = (guiTime * 100) % 100;
 
 textTime = String.Format("{0:00} : {1:00} : {2:00}", minutes, seconds, fraction);
 GetComponent(GUIText).text = textTime;
 }

Thanks in advance :)