Board Meeting Summary
Meeting Date: Tuesday 23rd October 2012
52nd Levy Scheme
The Board unanimously approved the Bookmakers’ Committee recommendations for the 52nd Levy Scheme (1st April 2013 to 31st March 2014). Further details of the scheme are available here.
2013 Expenditure
The Board approved an overall expenditure budget of £76.3m for 2013 (2012: £65.1m) and within this, an allocation to prize money of £50.2m (2012: £38.9m, both years inclusive of breeders’ prizes). Allocations to the main expenditure headings are detailed in the table below.
| 2012 |
2013 |
|
| Prize Money | £38.9m | £50.2m |
| Raceday Services | £16.4m | £16.4m |
| Fixture Incentive Scheme | £2.8m | £3.0m |
| Other | £7.0m | £6.7m |
| Total | £65.1m | £76.3m |
Capital Credit Requests
The Board approved Capital Credit grants of £120,803 to Leicester Racecourse to purchase and construct a new pavilion and to purchase a turf aerator and £109,740 to Taunton Racecourse to purchase and install an irrigation system.
Charitable Donations and Grants to Charities
The Board welcomed the decision of the Trustees of the Racing Foundation to delegate the administration and assessment of equine science research grant applications to the Board and its Veterinary Advisory Committee (VAC). The Executive will formalise with the Foundation the arrangements to apply in assessing veterinary research applications.