10 RACING AUSTRALIA ANNUAL REPORT 2021 CHIEF EXECUTIVE OFFICER’S REPORT Highlights for the 2020/21 financial year • C ash reserves increased by $2,430,446 to $8,342,045 when compared to 2019-2020. Of these cash reserves, $2,597,00 is held in trust for the Jockey Insurance Program on behalf of the Principal Racing Authorities to administer the insurance premium aggregate deductible, $420,000 is held in trust for the Racing Australia Research fund being $20 collected for each Thoroughbred registration and $41,000 is held in trust for the Statutory Levy being $10 collected from the lodgement of each mare return and $10 for every mare covered by stallions. The statutory levy is paid to Agrifutures for research into Thoroughbred breeding and racing. • T he payment of a Non-Repayable Grant of $3,000,000 paid to Racing Australia’s shareholders, the Principal Racing Authorities in each state and territory. • T he continued growth in outsourced service delivery to Principal Racing Authorities for licencing and Deputy Registrar functions. • C ontinued investment in the Single National System as the national data base for Principal Racing Authorities to operate their racing operations and the integration of the Australian Stud Book. • I nvestment in a New Zealand Thoroughbred Racing version of the Single National System for New Zealand Thoroughbred Racing leveraging synergies in business processes and systems creating a stronger partnership between the Australian and New Zealand peak racing authorities. Operational and technical developments implemented or developed during the year • I ntroduction of secure Owner identity verification via Passport, Drivers Licence or other documents using a highly secure and robust verification tool with 87.49% of Owner Verifications completed on the first attempt. • I ntegration and upgrade of Online Trainer tools in myhorseracing.horse portal replacing old standalone Stable Assist, linking Owner and Trainer related transactions in the industry portal. • O ngoing development and enhancements of Ownership related tools in the myhorseracing.horse portal enhancing the capacity of Trainers to complete transactions on behalf of Owners. • D evelopment of Breed Race Trace information campaign to support the implementation of new traceability rules. • E nhancement of systems and operations to support the implementation of the Traceability rules. • D evelopment and implementation of new enhanced welfare module within the Single National System that enables monitoring and reporting by Principal Racing Authorities of Thoroughbreds within their jurisdiction from birth to retirement from Racing and Breeding. • A recording tool that allows for non-industry participants to provide carer and location updates for horses that have left the industry. • O wners race day ticketing entitlements via RaceTix were enhanced with a new club management system simplifying the process of ticketing allocation, management and distribution for Owners and Race Clubs. • H orse ID App continued to be developed with a focus on expanding the Thoroughbred geographic location tracking. The strength of Racing Australia’s financial position and diversity of services continues to grow as outlined in this Annual Report. This growth would not be possible without the dedicated and committed Racing Australia staff who despite the challenges of the global Covid-19 pandemic have continued to be exceptional in exceptional times. I take this opportunity to thank the Racing Australia team. Thank you also to the Racing Australia Directors and Chairman throughout the year, firstly Greg Nichols and more recently John Messara following his appointment as an independent Director and Chairman. Myles Foreman Chief Executive Officer
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