Horserace Betting Levy Board

Income & Expenditure 2016/17
The Board agreed that the Executive should keep the current situation under review and prepare an updated paper for the January 2016 Board meeting.

Audit Committee Report
The Board noted the Audit Committee report, the Conflicts Authorisation Register and the Register of Members’ Interests.

Additional Voluntary Contributions: Underspend Proposals
The Board agreed to spend £200,000 from its Additional Voluntary Contributions budget on prize money for a series of Veterans’ Chases with the remaining balance to be held until the financial position was clearer in 2016.

Veterinary Science and Education Expenditure 2016
The Board approved the Veterinary Advisory Committee’s recommendations for expenditure of the 2016 veterinary budget and approved the appointment of Professor Matthew Allen to the Veterinary Advisory Committee for four years with effect from 1 March 2016.

Grants to Breed Societies
The Board approved allocations to rare breeds in 2016.

Point to Point Grant 2016
The Board agreed the expenditure programme for Point to Points in 2016.

Capital Credit Allocations
The Board approved:

1. Raceday Services grants transfers to Capital Credits of £1,157,460 for the period 1 January to 30 June 2016.
2. Prize Money grants transfers to Capital Credits of £3,631,724 for the period 1 January to 30 June 2016.
3. Fixture Incentive Fund grants transfers to Capital Credits of £189,800 for the period 1 January to 30 June 2016.
4. Certain Capital Credit Grants to be applied during January to June 2016 as repayments of loans in respect of approved development projects totalling £1,778,801.
5. 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 1 January to 30 June 2016.