The Federal Trade Commission (FTC) on Nov. 6 issued an order approving the Horseracing Integrity and Safety Authority's $80-million budget for 2025.
The Authority's proposed 2025 budget garnered only three public comments after it was first submitted to the FTC on July 31 and subsequently published in the Federal Register. The public commentary period closed Sept. 12.
According to the FTC's order, “Two of the comments were brief and did not address the Decisional criteria that the Commission must apply in determining whether to approve a proposed budget. A third, anonymous comment raised points relevant to the Authority's proposed 2025 budget, although it did not speak to specific provisions in the budget or address how they were or were not consistent with–or whether they would serve the goals of–the Horseracing Integrity and Safety Act.”
The Budget Oversight Rule provides that after the close of the comment period, the Commission must either approve or disapprove the proposed budget.
“The Commission will approve the proposed budget if the Commission determines that, on balance, the proposed budget is consistent with and serves the goals of the Horseracing Integrity and Safety Act in a prudent and cost-effective manner and that its anticipated revenues are sufficient to meet its anticipated expenditures,” the FTC order explained.
“Commission staff reviewed the proposed budgetary line items and accompanying narratives and found that these conditions were met,” the FTC order stated.
The Commission vote to approve the proposed budget was 5-0.
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