New York Racing Association
Non-Gaming Revenue Operations (Follow-Up Review) At the time of our prior audit report 96-S-37, we found that NYRA's controls provided adequate assurance that its non-gaming revenues had been recorded properly, deposited appropriately, and reported accurately, but we identified ways in which they could be enhanced. We found that NYRA officials have taken steps to address some of those improvement areas. They have issued vehicle permits to their employees and to other individuals such as press and invited guests who are not required to pay parking fees, and continue to use security personnel to control track entrances. Independent turnstile and treadle readings have been initiated; and fewer racing programs are being printed, reducing excesses and increasing profits. On a monthly basis, NYRA officials compare budgeted revenue with actual revenue, looking for unfavorable trends that should be reviewed and followed up and assessing their controls. After hiring a professional broker to lease revenue-producing space at its facilities, NYRA increased its revenues by $1 million.
For a complete copy of Report 99-F-34 click here.