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Client in Focus – Gosford Race Club Posted on October 9, 2018
The GRC held its first meeting in 1913 and since then has consistently been a leader in provincial racing outside the metropolitan area.
In 2008, the board of directors sought new direction and an injection of “fresh ideas” and appointed James Heddo as CEO, who has been in the racing industry and administration since 1988.
Mr. Heddo has high expectations for the clubs future, “Our board and the members & guests of the GRC, recognise that the race club is a valuable community asset. We have a modern function and dining venue and we want to keep delivering on the expectations we have set not only for ourselves, but the Central Coast community.”
In a massive boost to the Gosford Quarries Gosford Gold Cup Raceday, the Australian Pattern Committee have confirmed permission to move the Listed Belle of the Turf Stakes (1600m) and the Listed Takeover Target Stakes (1200m) to this day, which is scheduled for Thursday 10 January 2013.
“By scheduling three feature races at the one fantastic event, we have the opportunity to offer premium racing at a time where we are confident we can attract a large crowd,” stated Gosford Race Club CEO James Heddo.
The Gosford Quarries Gosford Gold Cup was moved to January in 2012 and launched the inaugural Jim Beam Twilight Racing Season at Gosford through the summer months.
“We were ecstatic with the results achieved right through our Summer Twilight Season, and in particular with the success of the Gosford Gold Cup Raceday,” stated Mr Heddo.
“The population of the Central Coast swells significantly during the summer holidays, and it is imperative that the Club takes advantage of any opportunity to drive on course activity.”
In 2010 the GRC and Mr. Heddo made a decision that in order to realise the goals they had set, they needed expert advice and modernised monthly management information, delivered in a timely manner.
They engaged Robson Partners to become their Outsourced Chief Financial Officer (CFO), to provide them with streamlined accounts as well as providing a more financially viable solution.
“The best thing about having our own CFO, is that we receive a detailed explanation of what the figures mean in addition to having a “new” set of eyes interpreting our results”
“Our CFO will assist with initiatives such as Friday night racing, and will ensure that the financial benefits are properly realised.”
The outsourced CFO program has enabled the executive team to formalise strategic direction for the club, make savings of approximately 50k annually on wages, and put a structure in place to ensure ongoing viability.
Mr. Heddo sums up the club, “We need to create a niche for ourselves, a point of difference from other race clubs, and we are well on way to achieving this.”
Gosford Race Club is holding their next Race Meet this Sunday 26th August. Come along and enjoy a day out with friends and family. Gates open at 11am.
In addition, if you would like to know more about how an outsourced CFO can help your business click here.