Ad-Express and Daily Iowegian, Centerville, IA

December 7, 2012

Audit shows finances for southern Iowa resort

Associated Press

DES MOINES — The state auditor says a southern Iowa resort lodge failed to meet its financial targets last year.

A report released Thursday by State Auditor David Vaudt shows Honey Creek Resort missed its $6.4 million budgeted revenue by about $540,000. The Gazette reports that's better than a $645,000 shortfall in 2011.

The report shows the resort had about $5.9 million in operating revenue for the year that ended June 30. It also had about $5.7 million in expenses.

Honey Creek, located at Rathbun Lake near Centerville, is operated by the Iowa Department of Natural Resources but managed by Minnesota-based Central Group Cos. Inc.