HARRISBURG — Pennsylvania’s elected financial watchdog sounded a note of concern Wednesday about the financial viability of a public fund that pays to regulate the state’s horse racing industry.

Auditor General Eugene DePasquale said the State Racing Fund faces increasing challenges and steps should be taken to keep the racing industry from what he described as significant jeopardy.

A report by DePasquale’s agency concluded the state Agriculture Department took $873,000 from the fund over three years to plug budget holes and spent about $5 million over four years for personnel costs that lacked appropriate documentation.

“Without proper documentation, we have no assurances that the amount charged to the State Racing Fund is accurate and appropriate,” he said at a Capitol news conference. “In my view it is unacceptable and must change.”

Agriculture Secretary George Greig responded by saying that regulating the industry has become increasingly expensive while track wagering has declined.