Audit

A director of an independent accounting firm hired by the Arizona Racing Commission (AZRC) to audit the financials of Turf Paradise as part of the track's three-year permit application testified at a Thursday meeting that if $24 million in federal and state subsidies from the COVID-19 pandemic gets backed out of the equation, Turf Paradise has operated at a net loss for the past three years. Sean Tanner, a certified public accountant who specializes in forensic accounting with Keegan Linscott & Associates, further told the AZRC that based upon projections...

A state audit of the New Jersey Racing Commission (NJRC) that sampled the records of 100 individuals listed as never having paid their fines for racing infractions has revealed that at least $272,000 remains uncollected, with 76% of that money being outstanding for penalties that were imposed by the NJRC as long as two decades ago. The Office of the State Auditor, which probed various aspects of the commission for the period between July 2016 through March 2020, also stated that the commission-produced equine fatality reports "are not always complete...