By Sam Parsons

The Pella Community School Board met last night and held their annual organizational meeting. Joan Corbin was re-elected as president of the board, while Elisa Klahsen was elected VP.

The board also reviewed their budget for the current fiscal year. There is a current projected deficit of $536,965 which will be covered by the general fund. Superintendent Greg Ebeling said that one of the important indicators to look at was the district’s solvency ratio, or cash position. According to the IASB, districts’ solvency ratio should stay between 7-17%, not to exceed 25%. Last fiscal year, Pella’s solvency ratio was 15.3%, but it is expected to drop to 12.6% this fiscal year. Ebeling explained the importance of keeping that number right around where it is.

Current forecasts for future solvency ratios are dependent on Supplemental State Aid received by the district, so Ebeling said that it is difficult to make assumptions based on that. The projected number for 2024 is currently 9.5%.