ATTENTION: HBPA OWNERS/TRAINERS
REVISED 2019 AB BRED BONUS PAYMENTS TO OWNERS
Clause 5 of the 2019 Thoroughbred Breed Improvement Program covers an allocation of funds ($455,322) to be paid out in real time as an added bonus on purse earnings to Owners of qualifying Alberta bred horses. Prior to commencement of racing, the Breed Improvement Sub Committee was tasked with determining the qualifying criteria and estimating a percentage amount to be paid out. In 2019, horses racing for a minimum purse and claiming price of $8,000 finishing first, second or third in races would qualify for a 23% Owner’s Bonus. Actual payments are monitored against estimates throughout the year. Depending on actual funds expended, the Program can be tweaked during the year or unexpended funds remaining at yearend are retained by HRA and added to the following year’s allocation. In the case of an overpayment, the amount would be deducted by HRA from the following year’s funding for this category.
2019 Results to Date
At the end of the Century Mile meet it became obvious that the entire amount of the $455,322 would not be used up in 2019. Allowing for an estimate for payout at the current Century Downs meet, it was estimated that without a change to the criteria $125,000 would flow back to HRA to be used in 2020.
On September 26, 2019, The HBPA Board of Directors determined that it would be in the best interests of the membership to retroactively change the criteria qualifying for such Bonus to include horses racing for a claiming price of $7,000 with a minimum purse of $7,000. HRA as well as the CTHS were advised accordingly and a 23% adjustment retroactive to April 28, 2019 was made by the Horsemen’s Bookkeeper to the individual accounts affected by the change with amounts credited on October 14, 2019.
Any questions with respect to the foregoing can be forwarded to current HBPA Manager
Mat Monaco at 403-650-6448.
Original signed by:
Norm Castiglione – President, HBPA of Alberta
October 15, 2019