Board Meeting Summary
Meeting Date: Wednesday 28th March 2018
Management Accounts
The Board noted the management accounts for the eleven months to 28 February 2018.
Audit Committee Report
The Board noted the Audit Committee Report and the Register of Members’ Interests.
Remuneration Committee Report
The Board noted the Remuneration Committee’s report.
HBLB Non-Fixture Related Expenditure
The Board agreed Racing’s request for £2,787,000 funding for various projects, and additional contributions of £18,000 to Breed Societies and £50,000 to Point to Point racing.
HBLB Capital Loans
The Board noted that declarations of interest in loans had been received from a number of racecourses. The applicants would now be asked to provide further detail in support of their applications.
Capital Credit Allocations: April to June 2018
The Board approved
1. The Raceday Services transfers to Capital Credits of £548,700 for the period 1st April to 30th June 2018.
2. The Prize Money transfers to Capital Credits of £1,687,368 for the period 1st April to 30th June 2018.
3. The Fixture Incentive Fund transfers to Capital Credits of £30,000 for the period 1st April to 30th June 2018.
4. Transfers to Capital Credits of additional requests made subsequently by racecourses for specified prize money-related grants yet to be awarded but which would be allocated at a later date for the period 1st April to 30th June 2018. These included Lower RIF, Appearance Money and Divided Races payments.
Capital Credit Application
The Board approved a Capital Credit Grant to Pontefract racecourse of £88,102 for the installation of a comprehensive Wi-Fi system and hard wiring for the new pool betting system.