The Ottumwa Courier

Local News

December 19, 2013

Honey Creek deficit narrows

LAKE RATHBUN — The Honey Creek resort destination park continues to run a deficit, though it is lower than in prior years.

Revenues topped expenditures in fiscal 2013 by about $200,000. It received $1.5 million from the state as well.

If income is higher than the expenses, how is the resort running a deficit? The answer lies in the cost of the construction. The resort did not make enough to offset the debt remaining from when it was built.

Bonds financed the construction, and Honey Creek made a payment of $565,000 in fiscal 2013. Cash from the state helps keep the resort functioning. It received $1.47 million last year.

General Manager Andy Woodrick said money “has been set aside” to retire the remaining debt, which should happen within the next few years. Once that happens, the resort’s revenues should be enough to fund it.

“The resort has always had cash flows and has paid its own bills,” Woodrick said, though he did allow that “it will be nice” to have the construction debt paid off.

Revenues topped $6 million on the year. Lodging was the biggest contributor, at $3.3 million. Restaurant and banquet services added another $1.9 million. The restaurant and banquet side of business also cost the most, at about $1.6 million in expenses. Costs for lodging came to under a million.

The resort opened just as the economy dropped off, which added to the early struggles. But Woodrick said Honey Creek is doing well in comparison to similar facilities, outperforming them in terms of operations and in the year-to-year increases.

“We’re happy with the direction the resort is going,” he said.

Honey Creek is operated jointly by the Iowa Department of Revenue and Central Group Management. It is based on 850 acres around Lake Rathbun, land that is owned by the state and federal governments.

1
Text Only
Local News
  • 0730 OTT Better Buildings -T -M Wildwood could be your home OTTUMWA — There was always one child per class who just adored school. If they went to Wildwood, they may soon be able to move in permanently. The Ottumwa board of education met Monday, where staff told them where the district stood as far as "facili

    July 29, 2014 1 Photo

  • A changing roster -- for school board OTTUMWA — If the last time you saw your board of education was before Christmastime, the current school board might surprise you. Two members retired from the board: longtime educator Ron Oswalt stepped down, as did board president Carol Mitchell. Bo

    July 29, 2014

  • Lottery sales top $3 million mark

    OTTUMWA — Mother Nature may have thrown Iowans a brutal winter, but it didn’t stop them from venturing out to buy lottery tickets. On Tuesday, the Iowa Lottery confirmed that it had topped the $3 million mark in sales for the third consecutive year.

    July 29, 2014

  • halo-5-guardians-concept_wallpaper-1920x1080-53cf9b0098ea45ada37dc0f66bc174f5.jpg The Art of Kong

    OTTUMWA — The Mona Lisa. Whistler's Mother. Donkey Kong? Don't be so surprised, said Walter Day, that video games and the surrounding memorabilia are being considered art. The creativity and artistic vision required to create a poster, said the found

    July 28, 2014 1 Photo

  • Slideshow: Truck overturns on roundabout

    July 28, 2014

  • 0729 OTT Picture veteran -T -M Veteran finally receives his medals OTTUMWA — A World War II injury may have saved the life of a U.S. Coast Guardsman from Iowa, but he lost friends and a box of military awards. Francis Hardy Harbour was born on Dec.16, 1919, in Drakesville. He joined the Coast Guard in 1941 as a mach

    July 28, 2014 1 Photo

  • Seasonal forecast Cool summer leading to cool fall? OTTUMWA — By late July, the average daytime high temperature starts to drop. What is normally the hottest part of the year is over. Averages are still in the mid-80s, and it certainly wouldn’t be out of the ordinary to see days in even the upper 90s.

    July 28, 2014 1 Photo

  • IHCC buildings.jpg Grant helps Hills keep students on track

    OTTUMWA — Thanks to a grant designed to improve graduation rates, Indian Hills Community College now has even more tools in its campuswide effort to help students with needs and give them the resources they need to stay in class. Indian Hills is one

    July 28, 2014 1 Photo

  • 0728 OTT ribs in eldon BBQ dinner with a hundred friends

    ELDON --- This year's Eldon Rib Cook-off was won by three BBQ chefs --- and about 150 hungry visitors. "I was down here last year, too," said Dwayne Yates from Floris, who was biting into his third smoked rib. "I never had a bad one yet." That's what

    July 27, 2014 1 Photo

  • Mediacom: Rural cable consumers and companies mistreated OTTUMWA --- You may want to add just a racing channel, a court channel or a nature channel to your cable line up. Unfortunately, you'll probably have to buy a "bundle," which, ironically, is what it will cost you here in Wapello County. That's accord

    July 26, 2014

Photo reprints


Obituaries

Facebook