The Federal Trade Commission (FTC) has issued an order approving the 2023 budget submitted by the Horseracing Integrity and Safety Authority. The approval follows procedures adopted by the Commission on March 27, 2023, for reviewing and approving the Authority’s annual budget.
As part of the FTC’s oversight rule regarding the Authority’s budget process, the proposed budget was published in the Federal Register to solicit public comments. Following the closure of the public comment period, the Commission is mandated to either approve or disapprove the proposed budget.
The Authority’s proposed 2023 budget was published in the Federal Register on October 4, 2023, providing the public an opportunity to comment. In its order, the FTC determined that the Authority’s proposed budget aligns with the requirements of the oversight rule. The Commission found that “the proposed budget serves the goals of the Horseracing Integrity and Safety Act in a prudent and cost-effective manner, utilizing commercially reasonable terms with all outside vendors, and that its anticipated revenues are sufficient to meet its anticipated expenditures.”
The FTC’s decision to approve the proposed budget was unanimous, with a Commission vote of 3-0.
For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and MSN.