Auditor questions Xenia's financial future
May 17, 2011

The Xenia Rural Water District, which serves a large portion of western central Iowa, was the subject of a report by the State Auditor's office, which includes this critical line: "The conditions described in the third paragraph of this report raise substantial doubt about the District’s ability to continue as a going concern". The district's chair told the Des Moines Register that they're trying to restructure district's debt, but that they'll likely require state assistance. A year ago, Xenia was looking to be acquired by the Des Moines Water Works, but nothing more has been said publicly about such a plan for over a year.

Utilities, municipalities, and rural water districts having funding difficulties may be interested in some of the major equipment leasing options available through some of our leading manufacturers, including Gorman-Rupp. Please feel free to contact us with your questions.

May 2011
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last revised May 2011