Board Meeting Summary
Meeting Date: Wednesday 8th June 2011
Customers of Betting Exchanges
The Board considered further issues raised with regard to customers of betting exchanges. A press release of 8th June 2011 summarising the conclusions can be found here.
2012 Budget
The Board noted that the expected outturn of the 49th Levy Scheme was £59.5m. There was discussion of the assumptions to be utilised for setting the forecast 50th Scheme income and it was agreed that a budget paper would be brought to the July meeting, which would also consider planned expenditure allocations for 2012 in the light of the 50th, and 51st, Scheme forecasts.
Allocations to Capital Credits
The Board approved:
a) The Regulatory Grants transfers to Capital Credits of £2,019,000 for the period 1st July to 31st December 2011.
b) The Prize Money transfers to Capital Credits of £3,104,830 for the period 1st July to 31st December 2011.
c) The Capital Credit Grants to be applied during July to December 2011 as repayments of loans in respect of approved development projects totalling £5,820,000.
Capital Credit Request
The Board approved a Capital Credit Grant of £4,036 to Leicester Racecourse towards works set out on replacing and upgrading the running rail on the jumps track.