Commission reports FY2026 operating loss and lower wagering revenues

Executive Secretary Amanda Benton presented detailed wagering and fiscal results for the commission's fiscal year 2026 and monthly reports for July and August. "For fiscal year 2026, the total revenues were $1,515,495. The total expenses were $2,063,924, which left the commission with an operating loss for the fiscal year of $548,429," Benton said.

Benton also reported wagering totals: July pari-mutuel wagers were $4,216,769 (a 2.3% decrease from the prior year) and August pari-mutuel wagers were $4,682,934.70 (an 11.8% decrease from the prior year). Advanced deposit wagering (ADW) for June totaled $8,652,687.68, a 2.6% decrease from the prior year, and July ADW was $8,580,488.66 (a 2.9% decrease). She said the operating loss and declining revenues were the basis for the decision-package request to the governor.

Benton said the fund balance at the end of FY2026 was reported as $423,753 and the projected fund balance at the end of FY2027 was $244,472. Commissioners asked clarifying questions but took no formal budget votes at the meeting; staff will circulate a final fiscal summary ahead of the decision-package submission.