Pa. auditor warns of horse racing fund's viability

Written by The Associated Press | Jun 18, 2014 12:47 PM

(Harrisburg) -- Pennsylvania's elected financial watchdog is sounding a note of concern over the financial viability of a public fund that pays to regulate the state's horse racing industry.

Auditor General Eugene DePasquale says the State Racing Fund faces increasing challenges and steps should be taken to keep the racing industry from what he calls significant jeopardy.

A report by DePasquale's agency concluded the state Agriculture Department took $873,000 from the fund over three years to plug budget holes and spent about $5 million over four years for personnel costs that lacked appropriate documentation.

A response by Agriculture Secretary George Greig says regulating the industry is increasingly expensive while track wagering has been declining. Greig says it's incorrect to claim his department uses the racing fund simply to balance its budget.

Published in News

Tagged under , ,

back to top

Give Now

Estate Planning

Support for WITF is provided by:

Become a WITF sponsor today »

Smart Talk

National Edward R. Murrow Awards

DuPont Columbia Awards

Support Local Journalism

Latest News from NPR

Support for WITF is provided by:

Become a WITF sponsor today »