April – June Financial Statement

CBY RC Running Financials Apr – June 13

If you click above you can access the spreadsheet with the financials for the first three months. Much of it is self explanatory, but here is a rundown from top to bottom, keeping in mind that we NOT seen the vet bills yet but I wanted to get this up once we got Clay’s June bill:

The top portion is income.

Initial Deposits – The money of all the members
Purse Money – Income from purses
Claim/purchase money – money we will receive from a claim or sale of a horse

The rest of the sheet are expenses – which is about the right proportion for this game sometimes.

Claiming – the claiming price of the horse
Training – the training portion of the bill or ‘day rate’
Farrier – getting the horse’s feet trimmed and shod
Vet Bills – veterinary care
Jockey Fees – the amount of money received by the jockey for a non-winning mount. In this is case Juan Rivera received $115
Management Fees – $200 a month to the club management company
Trainer Purse % – trainer receives 10% of a horse that comes in 1st 2nd or 3rd. This month, with EDDY’s win and MUNDY’s 3rd, Clay received $771
Jockey Purse % – jockey receives 10% of a winning ride. This is in lieu of a regular jockey fee, not in conjunction with one. In this case, Alex received $540
Management % – the management company receives 5% of any 1st, 2nd or 3rd purse money. In this month, the 1st & 3rd place finishes netted the company $385
Transportation – $300 for transporting EDDY from Chicago to here
Pony to Post – for each race, each starter receives a pony to accompany them to the post. The fee for this is $25 per race.
Licensing – The group, Canterbury Racing Club 2013, needs to be licensed with the Minnesota Racing Commission
Equine Retirement – $2 per start is set aside for equine retirement groups. AT the end of the season, Canterbury Park matches the money collected and it is split among several area groups that help ex-race horses transition to retirement
Groom Bonus – A $50 bonus to the groom of the winning horse.

Running Total – a running total of the amount of group funds
Monthly Total – the total of money won/(lost) for the month