The track (measured at 401.8 meters) can be used as a road mile for LDR records. For records to count, though, you will have to provide credible evidence that people covered the required number of laps. Generally this takes the form of lap sheets for the competitors.
Four laps won’t make a mile on this track, and I see no evidence that the extra few needed meters has been measured and is certified.
How do you tell it's a track and not a road? Simple. Look at your certificate. There should be a box labeled "track" checked off.
As far as I know, the road mile is not a record distance. Someone can correct me if I’m wrong. This being the case, you could dispense with the lap sheets and do something else to satisfy the organizers and runners that they experienced an accurate event. But the runners had better be informed that records aren't possible before they start. They get cranky when deceived.