The horses are in the black.

For the first time in 13 years, the New York Racing Association expects to end the year in the black, with a $1.5 million surplus from its races and other operations.

And next year, they are projecting a $2.1 million surplus, although there will be slightly fewer race days and fewer horses in those races, which is part of a national trend.

Members of the NYRA board of trustees learned of the expected surplus Wednesday as they outlined next year’s $154 million budget.

Part of the turnaround is due to ongoing cost cutting and some admission increases such as the $2 hike — from $3 to $5 for general admission at the Saratoga Race Course last summer.

NYRA’s budget this year is pegged at $155 million.

As well as trimming race days, they expect to save money going forward by closing barn space at the Aqueduct track in New York City when they are not racing.

The surplus news came as board Chairman David Skorton told members he was stepping down and Wednesday would mark his last meeting.

The Cornell University president, Skorton next summer will be leading the Smithsonian Institution in Washington D.C.

He was recruited by the Cuomo Administration two years ago when the old NYRA board, which had long been dogged with a reputation for patronage, mismanagement and secrecy, was reconstituted under state control.

The current board is scheduled to turn NYRA back into private non-profit status next fall.

A cardiologist by training, Skorton joked that he went from ”knowing nothing about Thoroughbred racing to next to nothing” during his tenure.

Board members said he provided the kind of clear thinking leadership to get the organization back on track.

The 2015 budget includes a number of improvements at NYRA tracks including Saratoga, Belmont and Aqueduct.

At Saratoga they are looking at improving video boards, and a “Walk of Fame” that will include a tribute to retired longtime announcer Tom Durkin.

They also plan dorm renovations for backstretch employees and upgrade the irrigation at the Mellon and Inner Turf courses.

None of this is to say there aren’t challenges.

Board members briefly discussed the ongoing decline in the foal crop, or annual count of newborn racehorses.

The drop was aggravated by the 2008 Recession and the result is that races tend to have fewer horses competing on any given day.

Based on an average, Saratoga, for example is looking at races averaging 7.8 horses compared to 7.9 during the previous season.

That translates into a lower handle or amount that is bet with a 3 percent decrease projected for 2015.

The lowered handles, though have been offset by cost cutting, higher admission prices among other things.

Here are some financial filings along with the packet for Wednesday’s meeting: