Pella Chronicle

December 7, 2012

Honey Creek lost money in fiscal 2012

MATT MILNER
CNHI

MORAVIA — Honey Creek Resort in Moravia is still losing money, according to a new audit report.

The audit, released Thursday, covers the 2012 fiscal year. A "condensed financial information" assessment in the audit showed assets of $29.9 million comared to liabilities of $32.8 million. Both figures dropped compared to 2011. Revenues were also down slightly, from $1.48 million to $1.47 million.

Honey Creek has lost money each year since it opened in 2008 as Iowa's first state-funded resort park. Auditors wrote that the governing authority for the resort did make all debt service payments for the 2012 fiscal year.