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Board Meeting Summary

Meeting Date: Friday 28th June 2019

Expenditure Reductions 2019
The Board agreed the cessation of Prize Money Boost payments from July 1st and a reduction in the 2019 Raceday Services Grant budget of £0.4m to £18.9m, reducing expenditure in 2019 by £3.8m.

Audit Committee Meeting and Annual Report to the Board
The Board noted the report from the Audit Committee meeting and its Annual Report to the Board.

Annual Report and Accounts
The Board noted the draft Annual Report and Accounts for the year to 31 March 2019, agreeing that a revised version would be circulated for approval in due course.

British Bred Premium Scheme
The Board approved the TBA proposal for a British Bred Premium Scheme. It also approved an additional £0.55m of funding to Plus 10 and the bringing forward of £0.7m from 2021 funding to 2020.

Fixture List Criteria
The Board approved the 2020 Fixture Criteria.

Racing Industry Accident Benefit Scheme (RIABS)
The Board approved the transfer of certain remaining responsibilities for RIABS from HBLB to the National Trainers Federation.

Capital Credit Allocations: July to December 2019
The Board approved:

  1. The Raceday Services transfers to Capital Credits of £910,818 for the period 1st July to 31st December 2019.
  2. The Prize Money transfers to Capital Credits of £3,171,898 for the period 1st July to 31st December 2019.
  3. Transfers to Capital Credits of additional requests made subsequently by racecourses for specified prize money-related grants yet to be awarded but which are allocated at a later date for the period 1st July 2019 to 31st December 2019. These include Lower RIF, Appearance Money and Divided Races payments.