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
-
-
Facilities open for use at Rathbun despite high water
With high water levels at Rathbun Lake this spring, the U.S. Army Corps of Engineers reports the lake has crested and is lowering and that park facilities are open and ready for use.
- IHCC Honor Roll students OTTUMWA -- Indian Hills Community College has released the names of the students who were on the college's academic Honor Roll for the 2013 Spring Term. To be included on the Honor Roll, an IHCC student must be enrolled full-time and have a grade poi
-
Local man is catalyst for Parkinson's Support Group
Thanks to Jerry Boblenz, a Parkinson’s Support Group is starting in Appanoose County. Mercy Medical Center will be holding an initial meeting on Thursday, June 20 at 5:30 p.m. in the south cafeteria of the hospital. Thinking that he probably had a p
- Kirkwood Community College announces graduates CEDAR RAPIDS -- Kirkwood Community College has announced the graduating class of 2012-2013. College faculty and administration joined friends and family in saluting the grads at commencement ceremonies at the Cedar Rapids Ice Arena in Cedar Rapids, M
- Truman State University announces Spring 2013 President's List KIRKSVILLE, Mo. -- Truman State University has released the Spring 2013 President's List. To qualify for this list, an undergraduate student must attain a semester 4.0 grade point average and must complete 12 semester hours of credit. Founded in 186
- Appanoose County road work County road work The Appanoose County Secondary Road Department reports the following road travel restrictions started Monday for 150th Avenue from 15129 150th Avenue to approx. 0.20 miles north of 15129 150th Avenue to replace a culvert. It is expe
-
Congressman Loebsack tours Rathbun Lake Watershed
Of the many hats worn by John Sellers -- including Rathbun Land and Water Alliance Board Member, conservation minded landowner, Wayne County Supervisor and Soil and Water Conservation District Commissioner -- he added tour guide to the list when Cong
- Moravia blood drive Moravia Ruritan will hold a Moravia Community Blood Drive on Tuesday, June 25 at 1:30-6:30 p.m. at the Nazarene Church Fellowship Hall in Moravia. Blood donors are especially needed during the summer months as blood donations tend to decrease this t
- CHS Honor Roll Centerville High School fourth quarter Honor Roll * indicates 4.0 Ninth Grade Bailey, Braden *Barger, Alyssa Dean Becker, Desmond Chance *Boyle, Colleen Frances Bridges, Alissa Katelyn Butler, Wesley Michael *Caylor, Emily Marie Chapman. Melissa Lyn
- WEEKLY CALENDAR MONDAY 17 CENTERVILLE LEGION?POST 214, meets the second Monday of each month at 7 p.m. at the Continental at St. Joseph's in the meeting room to the right of the V.A. office. APPANOOSE COUNTY WEEKLY MEALS, invites everyone to enjoy a free meal and fe
-
Itinerary for administrator search
One item on the agenda for tonight's Centerville City Council meeting that goes into some detail is the itinerary for the search for a city administrator. Tonight's council meeting starts at 5:30 p.m. at City Hall.
- Conger answers call to service in FEMA Corps SACRAMENTO, Calif. -- Rachel Conger, of Centerville, is one of 154 Sacramento-based young people serving in the nation's first class of FEMA Corps, a new unit of the AmeriCorps National Civilian Community Corps solely devoted to disaster preparedness
- Centerville School Board approves several resignations, new employment contracts The Centerville School Board held a regular meeting and public hearing on Tuesday, June 11. The public hearing, held first, regarded the sale of the Cincinnati and Mystic Elementary buildings. The cities of Cincinnati and Mystic have both offered to
-
Local doctor retires after 37 years
Thirty-seven years ago, Dr. Brad McConville returned to Centerville and began to practice what was described at the time as his “brand of medicine.” His brand of medicine included a solo practice in the early years which included being on call at all
- Administrator candidate What started as a list of 11 potential administrators for the city of Centerville has been narrowed down to five, four men and one woman. The Centerville City Council Tuesday night, June 4 during a work session meeting at City Hall were guided throug
- More Local News Headlines
-
Facilities open for use at Rathbun despite high water
