New York State Thoroughbred Breeding and
Operating and Reporting Practices
The New York State Thoroughbred Breeding and Development Fund
encourages the breeding and maintenance of thoroughbred horses in New York by distributing
financial incentives to breeders and owners whose horses compete successfully in New
York-based races. The Fund is required by law to report annually to the Governor and the
Legislature about certain aspects of its operations and thoroughbred breeding in New York.
However, we found that the annual reports issued by the Fund do not include all of the
information required by law. We also determined that Fund revenues and expenses, which are
subject to legal restrictions, are underreported in the Fund's financial statements. In addition, we
examined the Fund's effect on New York's thoroughbred industry. We conclude that the Fund
could be more aggressive in its promotional efforts and needs to develop performance standards
for assessing the effectiveness of its efforts.
For a complete copy of Report 95-S-134 click here.
For a copy of the associated follow-up report click here.
For a copy of the 90-day response click here.