Journalists Wandering Eyes Posted September 17, 2020 Journalists Share Posted September 17, 2020 The British Horseracing Authority released a summary of last year’s annual report and consolidated financial statements. This season, BHA’s Chief Executive Nick Rust opted for the release of an abbreviated version of the year to augment the strategic report featured in the accounts. Audited accounts for 2019 show an operating loss of £767,000–over the budgeted-for deficit of £478,000–and is due, in part, to the formation of the Horse Welfare Board. Included among contributing factors in the report: the equine influenza outbreak, Brexit, the impact on the Levy of the Government’s Gambling Review of 2018 and the formation of the Horse Welfare Board. To view the 2019 accounts report, click here. In an effort to mitigate a deficit stemming from coronavirus in 2020, the BHA enacted saving measures during the suspension of racing, including accessing employing government help schemes, pay cuts for BHA staff and Board, cost savings linked to efficiencies in the Fixture List and the negotiation of a rent freeze on the BHA’s head office. To view the BHA’s Coronavirus Recovery Plan, click here. The post BHA Releases 2019 Financial Report appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions. View the full article Quote Link to comment Share on other sites More sharing options...
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