The Ottumwa Courier

Business

January 10, 2014

Honey Creek turns a profit

MORAVIA — Honey Creek Resort State Park on Rathbun Lake in northern Appanoose County turned an operating profit for the year ending June 30, 2013, according to an audit released by the state auditor in December 2013.

The audit states HCRSP reported operating revenues of $6,066,364 and operating expenses of $5,830,398, resulting in an operating income of $235,966 for the year ending June 30, 2013.

A quick look at the numbers shows operating revenue from lodging of $3,335,090 was offset by $708,006 in operating expenses. Operating revenue from restaurant and banquet operations was $1,924,877, which was offset by $1,620,941 in operating expenses. Operating revenue from golf course operations was $623,080, which was offset by $666,183 in operating expenses. Operating revenue from the water park was $121,133, which was offset by $199,521 in operating expenses. Operating revenue from the gift shop was $62,184 which was offset by $49,960 in operating expenses.

Operating expenses for general/administrative, sales/marketing and property operation/maintenance were $1,535,643, $653,831 and $396,313 respectively.

HCRSP's most costly operating expense is payroll, with a total of $2,740,511 paid out in FY 2013.

What might surprise some people is that this is not HCRSP's first time to report more operating revenue than operating expenses. Besides FY 2013, the resort reported operating profit in FY 2011 and FY 2012.

Since FY 2009, when HCRSP first started generating financial records, the resort's total operating revenues have almost doubled, going from $3,104,679 in FY 2009 to $6,066,364 in FY 2013. Helping to lead that surge was lodging, where operating revenues in FY 2009 was $1,314,958 that jumped up to $3,335,090 in FY 2013.

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