9th June meeting
Racecourse Finances
The Board received for information a presentation on racecourse finances from the RCA and from a small number of racecourse executives.
2010 Budget
The Board agreed to hold a further meeting on 24th June 2010 to consider matters relating to the 2010 HBLB budget.
Capital Credit Requests
The Board approved:
(a) A Capital Credit Grant of £4,912 to Leicester Racecourse towards improving its pop-up sprinkler irrigation system.
(b) A Capital Credit Grant of £9,895 to Taunton Racecourse towards improving its drainage.
Allocation of Capital Credits
HBLB at its June 2010 Board meeting approved:
(a) The Fixture Fee Grants transfers to Capital Credits of £1,968,247 for the period 1 July to 31 December 2010.
(b) The Integrity Fee Grant transfers to Capital Credits of £523,200 for the period 1 July to 31 December 2010.
(c) The Prize Money transfers to Capital Credits of £6,458,706 for the period 1 July to 31 December 2010.
(d) The Capital Credit Grants to be applied during July to December 2010 as repayments of loans in respect of approved development projects totalling £7,700,000.
24th June meeting
2010 Expenditure
The Board approved expenditure reductions with effect from 1st August, details of which can be found here.
