This is a little insight why tracks pay with checks. Not commenting on timing of sending them out. That is probably dependent on track staffing.
1. If the track is using a computer software to write, that software will compile the amounts for the 1099's at the end of the year.
2. Dealing with cash is an easy way to be defrauded. The less people that touch the cash, the less possibility for fraud. Less hands touch the cash with checks.
3. It eliminates payoff discrepancies that cash can cause, especially if pre-stuffed envelopes are used. IE if a pay envelope is short, what exactly happened? Miscounted? Person counting the cash took it? Person picking up the cash took it? etc.
4. It provides much better documentation that a driver/owner was paid versus a signature on a payoff sheet. It provides a definite trail if anyone says that they were not paid. Also better documentation if there is ever an audit.
5. It allows the owners to get the cash off the property and safely into the bank lockbox before the end of the night.
I believe Challenger paid all classes in check during the last years. I remember Donna saying that she paid the higher classes first by check, then phased them all in.
A track that I worked for in SC had a pre-stuffed pay envelope stolen from the track office. Checks help prevent incidents like this.
Edited by superdirt, 15 May 2015 - 02:05 PM.
