Louisiana Racing Commission outlines $12.1M budget with notable expenditure changes

The Louisiana Legislature's Appropriations Committee met on March 20, 2025, to discuss the budget for the Louisiana Racing Commission, focusing on fiscal year 2025 expenditures and projections for 2026. The meeting highlighted key financial figures and adjustments that will impact the commission's operations.

The proposed budget for fiscal year 2025 includes total revenues of approximately $19.4 million, with $12.1 million, or 62.3%, coming from dedicated funds and $7.3 million, or 37.7%, from fees and self-generated revenue. The largest expenditure categories are other charges at $10.5 million (53.8%), salaries at $4.4 million (22.9%), and related benefits at $1.9 million.

A comparison of the fiscal year 2024 actual expenditures to the current budget for 2025 and the recommended budget for 2026 shows a slight net decrease of $47,971. Significant changes in the fiscal year 2025 budget include a $73,702 net decrease attributed to a $175,000 reduction in projected collections from off-track wagering facilities, alongside a $101,298 increase for various statewide adjustments.

The meeting also addressed specific funding adjustments, including a $25,000 net increase in statutory dedications for equine drug testing contracts, despite a decrease in other areas. Personnel services are expected to see a net increase of $145,000 due to adjustments in salaries and benefits, while other charges will experience a net decrease of $193,000, primarily due to changes in license fee distributions.

Overall, the discussions underscored the Louisiana Racing Commission's ongoing financial management and the adjustments necessary to align with projected revenues and operational needs. The committee's decisions will shape the commission's budgetary framework as it moves into the next fiscal year.