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RACING FOR CHANGE ANNUAL REVIEW 2011 INTRODUCTION

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<strong>RACING</strong> <strong>FOR</strong> <strong>CHANGE</strong> <strong>ANNUAL</strong> <strong>REVIEW</strong> <strong>2011</strong><br />

LOOKING AHEAD<br />

Chris McFadden, Chairman<br />

The total cost of RfC in <strong>2011</strong>, including staff costs, was £950,000. This is a<br />

reduction of £350,000 on 2010. The REL board believes that the level of<br />

output and achievement based on this budget provides excellent value.<br />

We continue to learn from our experiences and this has guided our plans<br />

for 2012.<br />

Kauto Star leaps the last at Kempton Park<br />

24 25

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