CENTERVILLE —
An independent auditor's report for Honey Creek Premier Destination Park Authority for fiscal year ending June 30, 2012 states all required debt service payments were made.
"Despite economic conditions which have negatively affected investment returns and Park revenue, the Authority has made all required debt service payments," states Des Moines-based McGladrey LLP in an audit released Nov. 19.
Honey Creek Premier Destination Park Authority was authorized by state code on June 15, 2005 and consists of the state treasurer, auditor and director of management of the state. Its function is to implement and administer the bonds used to construct Honey Creek Resort State Park and establish a stable source of revenue.
The audit shows total assets, liabilities, revenues and expenses were lower from 2011.
•Total assets are listed at $30,438,978 in 2011 and $29,914,521 in 2012.
•Total liabilities are listed at $33,332,704 in 2011 and $32,832,940 in 2012.
•Total revenues are listed at $1,482,695 for 2011 and $1,471,478 for 2012.
•Total expenses are listed at $1,511,678 in 2011 and $1,496,171 in 2012.
The Authority in 2012 paid $1,492,685 in interest and $485,000 in principal on the bonds which went from $33,000,000 in 2011 to $32,515,000 in 2012.
During the year ended June 30, 2012, the Iowa Department of Natural Resources provided $1,938,610 to the Authority for payment of bond principal and interest.
The ending fund balance for FY 2012 decreased by $507,930 from FY 2011 due mostly to the principal payment made this year.
The Honey Creek Destination Bonds (Series 2006) bear interest at rates ranging from 4 percent to 5 percent and mature in varying annual amounts ranging from $370,000 to $2,210,000, with the final term maturity due in the year ending June 30, 2036. The balance outstanding on June 30, 2012 was $32,515,000.
Local News
Related Photos
-
The lodge and hotel at Honey Creek Resort State Park on Rathbun Lake in northern Appanoose County. Photo by Michael Schaffer/Daily Iowegian
Share your thoughts!
The Daily Iowegian welcomes your thoughts and your opinions, including unpopular ones. We ask only that you keep the conversation civil and clean. We reserve the right to remove comments that are obscene, racist or abusive and statements that are false or unverifiable. Repeat offenders will be blocked. You may flag objectionable comments for review by a moderator.
December 12, 2012
2012 debt service payments made for Honey Creek Resort State Park bonds
- Local News
-
-
UPDATE 11:42 p.m.: Customers without power now below 1,000
Severe storms moving through the area caused over a thousand to loose power Sunday night.
-
Severe weather expected today
OTTUMWA -- Southeast Iowa will likely see the return of severe weather Sunday. Forecasters say there is a very high chance of thunderstorms this afternoon and evening and some could become severe.
- BOB volunteers complete window installation at 18-80 Club The 18-80 Club in Centerville recently received new windows with the help of local volunteers. "Our windows are in and look great," said Carla Wahl, with the 18-80 Club. "With the temp today [May 14] being in the 90's maybe they will open them up. T
- City Council budget amendment public hearing tonight The Centerville City Council at tonight's regular meeting will hold a public hearing amending the fiscal year 2013 budget, which ends June 30. The budget amendment calls for an additional $3.5 million in total revenues and other sources and an additi
-
FFA trap competition
Southern Iowa FFA trapshoot held on Sunday, April 28 at the Bloomfield Izaak Walton League and hosted by the Davis County and Centerville FFA chapters. Winners included Gabriella Buban of Wayne County at Corydon, top female. The top team was Moulton
- Centerville City Council Agenda for May 20 Centerville City Council Centerville City Council will meet Monday, May 20 at 5:30 p.m. at City Hall. Items on the agenda include approval of May 6 City Council meeting minutes, approval of April 11 Appanoose County Service Agency meeting minutes, a
- Prison term settles seven criminal cases A Centerville man facing 17 criminal counts in seven different felony, aggravated and serious misdemeanor cases in two southeast Iowa counties entered a guilty plea to three of the counts and was sentenced to state prison. The other 14 counts were di
- AC fair queen contest notice AC fair queen contest notice Contestants must be 16 to 21 years old as of Aug. 8. Contestants must be an active member of at least one worthwhile organization and be a resident of Appanoose County. Contestants must be present for the photo session,
- Work on 150th Avenue The Appanoose County Secondary Road Department reports the following road travel restrictions for 150th Avenue from 15129 150th Ave. to approximately .20 miles north of 15129 150th Ave. for a crossroad culvert replacement. Work started May 14 at 7 a.
-
Sprouse next IHCC president
OTTUMWA — The Indian Hills Community College Board of Trustees this week tabbed Dr. Marlene Sprouse to be the next president of the college. She will take over when current president Dr. Jim Lindenmayer retires in the fall. Board president John Poth
-
Loebsack calls for 'swift dismissal' in IRS targeting
WASHINGTON, D.C. — Congressman Dave Loebsack has called on President Obama to fully investigate the allegations that the Internal Revenue Service illegally targeted non-profit organizations based on ideological criteria. He also called for the swift
-
Students start new adventure with raised beds
Students and staff at SIEDA’s Appanoose County Head Start program were excited to receive their new raised bed vegetable gardens from the SIEDA Seeds of Hope program. According to Head Start staff, the students had chosen "Plants and How They Grow" a
- Rathbun Lake public information workshop The U.S. Army Corps of Engineers at Rathbun Lake is hosting a workshop on Wednesday, May 22 with the intent to present information regarding the current water management operations, and the influence of recent and anticipated future trends necessitat
-
One airlifted after motorcycle accident on Hwy S70
One victim with injuries was transported to a hospital after sustaining injuries from a single-vehicle, motorcycle accident north of Plano Wednesday afternoon.
- Hy-Vee and Bill Riley Talent Search partner up DES MOINES - The Bill Riley Talent Search announced a new partnership with Hy-Vee Inc. Hy-Vee has agreed to become the presenting sponsor of the Bill Riley Talent Search with a multi-year contract, making a significant investment to keep the Iowa tra
- More Local News Headlines
-
UPDATE 11:42 p.m.: Customers without power now below 1,000
