Your ten-percent holdback from awards earned in 2012 was sent out on March 18.
Each check reflects more than 81% of what the Fund withheld from awards as directed by our Board of Directors. Now that outside auditors have supported our financial statements for the past year, we are able to provide this payout.
Category # $ Awarded_
Breeder 836 795,028.86
Stallion 114 185,620.39
Owner 288 99,730.88
Total 1,238 $1,080,380.15
A reduction in anticipated revenue coupled with higher award rates on the much larger purses at NYRA, along with an increase in the number of NY-bred races run at NYRA tracks during 2012, caused a small loss for the Fund, resulting in our inability to pay out 100% of the holdback.
We hope these checks help your breeding and racing bottom line.
Best of luck,