The National Thoroughbred Racing Association is anticipating a fiscal year 2013 budget of $8.21 million, according to its latest annual report.
The 2011-12 report to the membership indicates the largest expense will be marketing and promotions at $3.85 million, followed by NTRA Advantage—a group purchasing program—at $2 million. Expenses for general and administrative activities are tagged at $1.22 million, legislative initiatives at $778,000, and the NTRA Safety and Integrity Alliance at $340,000.
On the revenue side, marketing and promotions will bring in $3.31 million, followed by NTRA Advantage at $2.13 million and racetrack and horsemen’s group dues at $1.73 million. The NTRA legislative action campaign is expected to generate $721,000 in revenue, and the alliance $279,000.
Racetrack and horsemen’s group dues, which at one time made up the bulk of NTRA revenue, will account for 21% of income in fiscal year 2013, according to the annual report. Marketing, promotions, and NTRA Advantage will produce 66% of the total, according to the figures.
The report says 2011 was an up-and-down year for NTRA Advantage, which is expected to clear the $100 million mark in savings for members in 2012. For the first half of 2011 sales declined 23%, but for the second six months, sales were up 24%.
The NTRA, headquartered in Lexington, had total net assets of $1.71 million as of Jan. 31, 2012, with operating expenses exceeding operating revenue by $744,000, according to the report. Investments through mutual funds and bonds totaled $1.41 million.