The Daily Gazette
The Locally Owned Voice Of The Capital Region

(UPDATE) NYRA document dump

Four days after the New York Racing Association was criticized for a lack of transparency they released their third quarter financial information.

On Monday, officials from NYRA went over their third quarter financial information with the state Franchise Oversight Board, which is tasked with overseeing the scandal-plagued, nonprofit racing corporation. During that meeting, board member Steve Newman questioned why NYRA doesn't publicly reveal its quarterly financial information and only reveals it to the state, which can't share the information with the public.

At the time, NYRA President Ellen McClain said the decision stemmed from the fact that their competitors might be able to gain an upper hand with this information. She added that they felt they already disclosed a lot of information.

Now that information is being released and is available below, where you can see this past quarter compared to the third quarter of 2011.

This is a tremendous shift from the past, when NYRA officials would not even confirm certain numbers mentioned in the meeting were correct. Maybe as a sign that the times are a-changin', NYRA did confirm questions about numbers referenced in the most recent meeting.

During Monday's meeting, Newman raised the possibility of counsel to Gov. Andrew Cuomo reviewing the issue of NYRA being required to disclose more information.

An email to NYRA's spokeswoman about the new level of disclosure and the timing of the release was not immediately answered.

UPDATE, 1:06 a.m. Saturday: The response from NYRA is as followed: The NYRA Reorganization Board is set to hold its first, open meeting in early December and NYRA is already moving toward releasing more information to the public. In that spirit, and in response to a request from the Franchise Oversight Board that we release our unaudited financial statements for the period ended Sept. 30, 2012, we decided to provide this information today.

Follow @poozer87 on Twitter.

2012 3Q for NYRA

Enjoy this post? Share it!


There are currently no posts. Be the first to comment on this story.

columnists & blogs