Racing NSW plans country-club financial standards and regional track support

Racing NSW will consult country clubs on new Financial Management Minimum Standards and a revised education and support framework as it develops regional assistance for track managers.

Chair Dr Saranne Cooke outlined the plans in her latest participants’ bulletin, released on the day of the regulator’s Country Conference in Sydney.

The consultation will consider ways for clubs and Racing NSW to communicate, exchange financial information and keep club boards informed about relevant industry developments.

“These important discussions will help shape the development of new Financial Management Minimum Standards and a revised ongoing educational and support framework which will assist clubs in their focus on their core operations,” Cooke said.

Racing NSW’s existing venue standards for Country “B” and “C” clubs cover governance, financial policies and reporting, including monthly board reports on compliance and provision for up to two venue audits a year.

Cooke said the regional track-management support model would sit alongside the track curator traineeship, with stewards and experienced managers applying their knowledge to enhance racing and training surfaces and avert avoidable meeting abandonments.

Racing NSW is also developing an administration traineeship for future race-club administrators.

Meanwhile, Cooke reported Equimillion nominations rose 24 per cent to 640 for its fourth edition. The retired-Thoroughbred event runs from October 2 to 5 at the Sydney International Equestrian Centre, offering more than $1 million in prize money.

Cooke said two key industry safety measures improved last racing season. She attributed the gains to participants’ ongoing vigilance, tougher licensing requirements, required education sessions for trainers and record spending on infrastructure for racing and training.