4th Quarter Results from the Bookmakers’ Committee
The Board received a verbal update from the Bookmakers’ Committee. The Board noted that bookmakers’ Forms of Declaration were in the process of being returned. As was customary at this time, firm indications as to the final outturn of the latest completed Levy Scheme, to the year ended 31st March 2012, were not yet available.
The Board will consider initial proposals on 2013 expenditure at its June meeting in advance of consideration of the 2013 budget at its July meeting.
2012 Prize Money Funds
Updates were provided on the Quality Support Fund and Saturday Handicap Fund, with the races supported having largely proved competitive, which was welcomed. A specific protocol for determining eligibility for grants from the latter, with particular regard to racecourse obligations in return, had been agreed by the Levy Board executive after consultation with racecourses and others.
It was noted that, at present, the Saturday Handicap Fund and the Racing and Betting Special Incentive Fund were under budget on expenditure. The Betting Patterns Working Party sub-group was considering a range of options for the utilisation of the funds, maintaining the principles that monies should be for prize money in higher-quality races and aimed at improving levy generation.
The BPWP had supported a proposal from its sub group for a reduction from 20 declarations to 18 as the trigger point at which races could be divided. It had been raised from 18 to 20 in recent years in order to reduce the call on the Divided Race Fund. BHA would put this into place, subject to the approval by relevant parties of the appropriate Rule change.