Louisiana Thoroughbred Breeders Association

“Val murell and michelle lavoice are father and daughter. Warren h and val murrel have a business relationship. Lee thomas and michele rodriguez has a business relationship and have a family relationship jim montgomery, jay adcock, jake delhomme and nathan granger have a business relationship. Tom early and val murrell have a business relationship.”

“The association has approximately 1000 members. In order to qualify for regular membership, members have to be actively engaged in the louisiana thoroughbred horse breeding industry or register an accredited louisiana bread in one of the prior two breeding seasons. The association also has an associate member, who is not actively engaged in breeding, and as a result, do not have voting privileges.”

“Members of the association elect members of the governing body. As a requirement to be a member of the governing body, an individual must also be a member of the association. Members of the association that are breeding and accrediting horses in the state of louisiana are eligible to receive breeders awards based solely on the horse's performance in the thoroughbred races and not on their membership in the association or on being a member of the governing body. No members of the governing body may receive any personal benefits or compensation as payment for services.”

“The return is reviewed and approved by the executive director and comptroller before presenting it to the finance committee. The finance committee then has the return presented to the board of directors. Upon the board's review and approval, the return is signed by the president and is submitted for filing.”

“A copy of the conflict of interest policy is provided annually to each director, officer, and staff member, each of whom has a continuing responsibility to monitor their family and business relationships for potential conflict of interests and make such disclosures in writing to the board chair. Directors, officers, and staff members are required to complete a conflict certification agreement, which shall be reviewed by the board as appropriate. Directors are also given the opportunity to disclose any changes in their conflicts in each board meeting after the approval of the prior board meeting minutes.”

“Compensation for the ceo is dictated by the board of directors, which is approved by the board and noted in the minutes. Reasonableness is determined by the salary and benefits committee, who compares the salaries with other "similar organizations before recommending the salary to the board of directors. Each board member receives a $75 per diem allowance for meetings attended during the year.”

“The association makes its governing documents, conflict of interest policy, and financial statements available to the public upon request of any persons or entity.”

“Slot/otb timing difference 451.”

“The organization used the modified cash basis method of accounting.”

“The organization has not changed either its audit oversight process or selecion process for the selection of an independent accountant.”