July Financials

July was a productive month for the Emerald Racing Club with Dancing Yodeler winning one race and finishing second.

This post is long and detailed so if you look at nothing else, look at the updated July Budget sheet. It summarizes all that will be delved into below.

Emerald Racing Club July Statement shows $3,410 for his victory on July 13 and $1,240 for his second place finish on July 27. Total July income is $4,650.

From the statement, you can see:

  • Amount paid to the trainer (10%): $341 and $124 respectively
  • Amount paid to the jockey (10% of the win less agent fee): $255.75 and $56.25 respectively. Jockeys earn 10% on the Win, and a scaled fee for the other placings (chart is found in Condition Book). In this particular race, the jockey received $75 for second less the 25% agent fee resulting in the $56.25.
  • Amount paid to the jockey agent (25% of the jockey’s earnings)
  • The statement also shows the previously discussed “Horse Retirement Fund” ($5/race) and the “Jockey Insurance” ($6.50/race).

The July Training Bill is also straight forward.

It shows:

  • Yodeler & Ana’s daily training rate adjusted for Anelina’s layup
  • Shoeing
  • Pony fees (horse that escorts Yodeler to the starting gate)
  • and in Yodeler’s case 2% of the win for the grooms

Total training bill is $3,474.20.

From that we are looking pretty good. If we figure in the race day medication bills that includes the Lasix, Bute and vitamins shown on the Cavalli Vet Bill for $163 we still turn a profit.

However…

We did finally receive a vet bill from June and July for Anelina and Yodeler that negated our gain.

Comparing the Sporthorse Medicine Vet Bill and the Cavalli Vet Bill is actually a good exercise in showing two different methods of invoicing. In either case, it is important to carefully review the records and check against what the trainer has billed. In this case we found one mistake where the vet had inadvertently charged us for some medicine for Anelina that we were also charged for from Sharon.

The vet bills from Sporthorse are separated by the horse’s name noted at the top. You’ll see that Yodeler received his joint supplement Voren (administered as Adequan on an earlier post) and Chondro used to help with body soreness. This is standard operating for him and shows up consistently a couple days before he runs. So we see the same routine as in his earlier races.

Now let’s look at Anelina.

In June she received Regumate. The $300 is for a bottle of medication that lasts four to five months. It is administered orally and Regumate is given to mares to keep their temperament “regular.” Just like women may get a bit testy once a month, mares can also act “mare-ish.” The medication evens out the mare’s behavior so they can focus on their job – being a racehorse. It also makes the barn a bit more peaceful all around.

Next we saw the same maintenance treatment that Yodeler receives, the Voren and Chondro. This was shortly before her first race.

Then comes the result of her injury – diagnostics and treatment:

Radiographs (4 views) for $180, sedative so they could get the x-rays for $15 and Naquasone ($5), which is a diuretic and is mixed in her food and is used to draw the fluid out so they can see the joint better.

We then entered the period where she’s awaiting her ultrasound. Isoxiprine and Apirine were given in oral form to help break up the suspected blood clot. This is the vet bill that we are following up on because we were already billed by Sharon and were mistakenly billed here again.

Approximately a week after her injury we walked her over to the clinic and she was sedated ($15) for the ultrasound ($180).

When we take into account both horses and that the bills span over two months the vet bill totals $1,180 (less the $80 we believe to be a mistake).

  • Total income: $4,650
  • Total bills: $5,641.20
  • Net loss: $991.20

At the end of the season, I will break down the income and expenses by horse so we can see it that way as well. I realize the expenses and what it entails can get a bit cumbersome so if you’d like further explanation on a particular item please post your question in the comments and we’ll do our best to expand further.

 

 

 

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4 thoughts on “July Financials

  1. Uh oh! Regarding these financial statements. Perhaps someone should start thinking about ways to supplement these horses incomes by selling perhaps photographs of these horses?? I know I would love to buy one as we have no horse racing here in NC and he’s been a magnificent horse. I know this is a horse that has worked miracles.

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