Board Meeting Summary
Meeting Date: Wednesday 26th February 2025
WELCOME
The Board welcomed Richard Wayman to the Board as the new appointee of Racing, in succession to Julie Harrington.
GRANT APPLICATIONS
The Board approved £11m new grants comprising £8.1m in funding to non-racing fixture grant awards to the end of 2025, £2.76m for veterinary science and education research programmes and for equine disease surveillance and protection, and £190,000 to rare horse breed societies.
BUSINESS PLAN 2025-2028 UPDATE
The Board provided comments on the draft Business Plan 2025-2028 and noted that a final version would come to the April Board meeting with a view to publishing in the summer.
REGULATION AND INTEGRITY REVIEW UPDATE
The Board requested that the Steering Committee produce a report for the April Board meeting that explained in detail how the report’s findings would be implemented.
ORGANISATIONAL EFFECTIVENESS REVIEW: STAFFING
With the agreement of all the Remuneration Committee members present at the meeting the Board approved a proposal to a net increase of 1.8 FTE additional roles compared to the start of 2024 in line with the recommendations of the Organisational Effectiveness Review.
HBLB GRANT WORKSHOP
The Board commended the introduction of the workshop for grant recipients and the value it had added in improving applications received.
MEMBERS’ REGISTER OF INTERESTS
The Board noted the updated Members’ Register of Interests.
NON-FIXTURE GRANTS DASHBOARD
The Board noted the dashboard showing the Q3 performance of Non-Fixture Grants in 2024-25.
CAPITAL CREDIT APPLICATION: YORK
The Board approved a Capital Credit Grant to York Racecourse of £733,888 in Capital Credits towards funding for permanent canopy structures overlooking the parade ring.
MANAGEMENT ACCOUNTS TO 31 JANUARY 2025
The Board approved the Management Accounts to 31 January 2025.