The National Thoroughbred Racing Association Board of Directors on April 17 approved the organization's audited financial results for the fiscal year concluding Jan. 31, 2014, which reflect net revenues of $667,477.
The results continued a positive trend from the previous fiscal year when NTRA net revenues were $66,850. The board's action took place during its regularly scheduled second-quarter meeting.
"The positive 2013 financial results were accomplished through disciplined reductions in spending as well as unprecedented growth in a variety of areas, especially the NTRA Advantage group purchasing program," said NTRA President Alex Waldrop, in a statement. "The NTRA is building a sustainable future by producing valuable programs and building strong partnerships while reducing its reliance on dues support from members."
The complete NTRA financials and the company's annual report will be released in early June.
In other action, the Board:
• Ratified the 2014 NTRA Safety and Integrity Alliance Code of Standards;
• Reviewed recent progress in industry-wide efforts to implement uniform national medication reforms;
• Received updates on federal legislative activities in Washington, D.C., marketing, communications, and the Advantage purchasing program.
The next regularly scheduled meeting of the NTRA board will be Aug. 8 in Saratoga Springs, N.Y.