Accountants of the State Racing Commission

Pari-mutuel responsibilities include overseeing the proper distribution of the handle.  The handle is the total amount of money wagered at each performance and the percentage or take-out of the handle is determined by the statute.   Proceeds from the handle are distributed to specific categories from purse accounts to Capital and Promotional Trust Funds.

SAFEGUARDS

All money wagered at each racetrack are logged into a cash/sell totalizator (tote) system.  At the start of each live race, the wagers are locked into the computer by the Commission Steward/Judge.  For simulcast races, standard industry protocol is used to stop betting.  Print-outs from the tote system are audited by the Racing Commission Accountants for accuracy and compliance with current statutes.

DAILY AUDIT

A summary sheet, detailing the breakdown of the statutory take-out is prepared by a Commission Accountant for each individual racing performance.   For live racing, the information is provided by the on-site tote system.  For signal received simulcast races, a report from the host tack is faxed to the guest track.   This report is used in conjuction with on-track reports to complete the summary sheet.  This activity ensures that the public, the Commonwealth, horsemen, dogmen, and all the designated trust funds are properly funded.  A handle reconciliation report is prepared by the Commission Accountants on a daily basis.  This report shows the handle broken down as to live, signal sent and signal received.  Further, the balance of all current uncashed tickets and the liquidity of the mutuel department is audited on a daily basis by the Commission Accountants.