Despite numerous meetings in recent weeks, California racing officials have yet to finalize a funding method for the California Horse Racing Board for the upcoming fiscal year, leaving the strong possibility the issue will be decided at the regulatory agency’s meeting in Sacramento on Thursday. A budget must be finalized Thursday, the racing board’s last scheduled meeting before the new fiscal year begins July 1. The budget was discussed at racing board meetings in April and May without a resolution. Meetings were likely to be held this week in an effort to reach a last-minute deal. In a text message over the weekend, Del Mar president Josh Rubinstein wrote “discussions [were] ongoing.” Rubinstein did not provide further detail. Bill Nader, president of the Thoroughbred Owners of California, said over the weekend that he was skeptical a plan could be finalized before the meeting. The board has a budget of $18.2 million, racing board executive director Scott Chaney said at the May meeting. Approximately $8 million of the budget pays direct costs for salaries of stewards, official veterinarians employed by the racing board who work at racetracks, and costs for drug testing conducted at the University of California-Davis. The remaining $10 million, referred to as indirect costs, covers salaries for approximately 50 racing board employees and the annual operation of the government agency.  The racing board’s budget is funded by the sport and not through state government. :: Get the Inside Track with the FREE DRF Morning Line Email Newsletter. Subscribe now.  In recent years, funding has been derived by handle generated by each venue. More than 75 percent of the budget for the 2022-23 fiscal year was paid by Del Mar and Santa Anita, according to racing board data. Golden Gate Fields contributed 11.8 percent. Golden Gate Fields closed permanently on June 9. Track officials at Del Mar and Santa Anita have balked at continuing that structure, Chaney said last month. According to an analysis presented to the racing board for Thursday’s meeting, the board will determine the funding for its budget after the racetracks are assessed amounts for their direct costs, unless the tracks reach an agreement on those costs prior to Thursday.  Funding could be determined by the number of days a track operates, or by handle.  A decision based on racing days could lead to drastic changes in the racing calendar. Officials with the Sacramento harness meeting said a higher assessment of their portion of fees based on racing days would lead to a reduction in number weeks of racing, according to a letter sent to the racing board by David Neumeister, president of the California Harness Horsemen’s Association. A loss of racing dates at any venue would put added financial pressure on other tracks to make up the difference. At the May meeting, racing board chairman Greg Ferraro urged participants to reach an agreement before Thursday.  Nader said last weekend that recent meetings have not yielded a solution. “We’ve had about eight meetings over the last three or four weeks,” he said. “I wouldn’t say we made any progress.” Nader said financing is difficult because all Thoroughbred tracks in the state – Del Mar, Los Alamitos, and Santa Anita in the south, and the California Authority of Racing Fairs in the north – are offering lower purses than last year because of declines in handle. “It’s challenging,” he said. “There is not one stakeholder in the industry that is in a position of strength. That’s the problem.” :: Want to learn more about handicapping and wagering? Check out DRF's Handicapping 101 and Wagering 101 pages.