HONEY CREEK: Deficit For State-Owned Resort
An audit of the state-owned Honey Creek Resort finds it’s still operating at a deficit.
The resort in southeast Iowa on Lake Rathbun brought in operating revenues of just over $6 million for the 2013 fiscal year, which ended June 30th. That includes revenue from lodging, the restaurant, and the golf course.
Expenses were under $6 million meaning the resort brought in over $235,000 in positive income.
However, despite a $1.5 million boost from the state the resort is still reporting a deficit. That’s because it’s still paying off a shortfall from last year.