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 Districtís 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.
last revised May 2011