The organisation is now set to exit administration, with the election and appointment of a new board likely to begin within weeks, a Racing NSW manager said.

The club board stood down in January amidst concerns over and financial transactions. An administrator was appointed while Racing NSW undertook an investigation into the board's decisions.

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Racing NSW general manager industry and analytical, Scott Kennedy, revealed on Wednesday the inquiry has wrapped up.

The report won't be made public, he said - but it had found wrongdoing at the club.

"The findings were around the governance issues and the procurement and confirmed our initial view that there'd been a breach of the conditions of registration. As far as wider reaching findings it was confined to Tamworth Jockey Club in this instance," he said.

He said the breach was "over maintenance works undertaken at the track".

Mr Kennedy said it was "a significant amount" of money.

Tamworth's Jockey Club is now on the road to leaving administration, with a new elected and appointed board to take over "before the end of winter", he said.

All members of the old board had resigned and committed not to stand for election on the new one, he said.

The inquiry came after complaints about track quality by jockeys and trainers. Two December meets were relocated over concerns about the quality of the track and recent heavy rain.

Racing NSW accepted an offer by the entire club's board to step aside in January and announced an inquiry would investigate the "tendering and procurement process" for "significant expenditure". Experienced racing administrator David Jewell was appointed administrator.

Mr Kennedy said the track is in its best condition in years, with the club boasting new sand track and training facilities and is in a solid financial state.

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