Originally Posted by
Messenger
Wow. This is some Report
I know that most of our forum members are a lot busier than this lazy arse member so I am going to post highlights of the report on here each day for those of you that cannot find the time to read the document in its entirety.
I will get straight to the point by starting with the 18 Recommendations
RECOMMENDATIONS
Governance, Board expertise and skills
1. That the Racing Act 1958 (the Act) be amended to provide for the appointment of a skills-based board in line with modern governance practice. Following the amendment of the Act, it may be appropriate to reconstitute the Board with current members encouraged to apply.
2. That an Appointments Panel (AP) be established to assist the Minister to identify appropriate candidates for appointment to the Board.
3. Members of the Board and senior executives be required complete the Australian Institute of Company Directors (AICD) Company Directors course, or a similarly approved course, which focuses on high standards for directors and corporate governance.
4. The government give consideration to undertake a review of the remuneration levels for board members of racing statutory bodies.
5. That a Harness Racing Advisory Board (HRAB) be established (with membership approved by the Minister and including at least two HRV Board members) to facilitate consultation required under section 44B of the Act.
6. That the Board take action to ensure more effective leadership and communication, to reunite the industry and reinvigorate the racing product.
7. That the Board implement best practice risk management, including a requirement for the Audit Committee to meet with the Board at least once a year.
8. That the Board revise the its draft Harness Racing 2020 Strategic Plan to ensure that it includes, at a minimum
• a clear vision for harness racing
• clear accountabilities for the delivery of initiatives
• risk management and mitigation strategies
• timelines for implementation
• quarterly reports to the Board on implementation of deliverables, against identified performance measures
• the development of a communications strategy to effectively engage with stakeholders
• strategies for growing industry revenue
• strategies to attract new and young people to the industry.
Integrity services
9. That the government consider the removal of integrity as a function of HRV and the establishment of a separate integrity body for Victorian harness racing.
10. That the government consider providing funding from the Victorian Racing Industry Fund (VRIF) to significantly strengthen integrity capabilities.
Debts and liabilities
11. That the government work with HRV to identify strategies to speed up HRV’s debt retirement plans, including consideration of accessing unused HRV VRIF funding, the sale of surplus land at Melton and improvements to the HRV operating model.
12. HRV must, as a matter of priority, communicate to its key stakeholders its intentions regarding its debt management strategy, including timelines and consequential financial implications for the industry.
Income streams
13. That HRV:
• work collaboratively with all wagering service providers, in addition to Tabcorp, to grow wagering income from all sources
• adopt the recommendations of the Ford Sponsorship report to grow sponsorship income
• initiate discussions with the free to air networks for coverage of the Summer of Glory feature races
• develop strategies to improve returns from HRV racing product, both nationally and internationally.
Infrastructure
14. That HRV develop a ten-year strategic infrastructure and racing plan that:
• identifies the number of tracks required to sustain the annual racing program and capitalise on emerging wagering markets
• considers increasing the number of metropolitan meeting venues (e.g. Cranbourne)
• identifies patron facility upgrades that need to be undertaken at Melton (e.g. a roof over the grandstand seating, tiered dining facilities and a parade ring closer to the stand) and at other major racing venues
• ensures that owners are appropriately recognised and catered for
• examines the establishment of training and stabling facilities at racetracks such as Melton, Shepparton, Ballarat and Bendigo to reduce the barriers to entry by new participants.
Administrative duplication
15. That HRV reconsider its continued ownership of Racing Information Services Enterprise (RISE).
16. That HRV, as a matter of priority, continue its roll out of its financial shared service model and extend the shared service model to include:
• occupational health and safety
• compliance
• risk management
• marketing of racing.
Other issues arising from the audit
17. That HRV consider, in the development of plans to establish horse training facilities on harness tracks, making provision for the establishment of an education Centre for Excellence for industry participants and employees.
18. That government consider providing funding support for this important industry initiative.
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