ANNUAL REPORT
2019
GRANGE GOLF CLUB
YEAR IN REVIEW
2019
LITRES OF WATER USED ON COURSE
34,016 WOMEN’S OPEN TOTAL ATTENDANCE
$138,904
$760K
DEBT REDUCTION COURSE STAFF
22 VS 38 DURING THE OPEN
JUNIOR DEVELOPMENT FUND
$30,762 FROM GRANGE FOUNDATION DAY
$44,740
1ST JULY 2018 - 30TH JUNE 2019
$114,320
VOLUNTEERS FOR THE WOMEN’S OPEN
1 Million L
480,000,000
YEARLY PROFIT
10 4 NEW MEMBERS
520
SAVINGS IN ELECTRICITY COSTS FROM OUR 2 SOLAR SYSTEMS
INCREASING OUR CAPACITY ON SITE
17.7%
FEMALE SHARE OF MEMBERSHIP BASE 267 FEMALE MEMBERS IN PLAYING CATEGORIES
70,000,000 LITRES OF WATER INJECTED INTO THE AQUIFER IN THE WETLANDS
ANNUAL REPORT 2019
Office Bearers & Committees Office Bearers – 2018 / 2019 President Bruno Battistella Vice President Nicolle Rantanen Reynolds Captain David Lang Vice-Captain John Thomas Committee Craig Coleman Kym Linke Craig Martin Damian Minchenberg Belinda Singleton Kris Tapp General Manager Barry Linke Course Manager Rowan Daymond Finance Manager Robert Vincekovic Professional Warren Mercer
Committee
House Belinda Singleton (Ch) Below are the names of the Club Kris Tapp Committee together with a list Jodi Kardachi^ of the number of meetings held Barry Linke* and the number attended by each Robert Vincekovic* during the term of office during Dani Caruso* the financial year. Meetings Meetings Nick Alexandrides* Eligible attended David Clay* to attend
Mr B Battistella Mr C Coleman Mr D Lang Mr K Linke Mr C Martin Mr D Minchenberg
11 11 11 11 11 11 Ms N Rantanen Reynolds 11 Ms B Singleton 11 Mrs K Tapp 11 Mr J Thomas 11
9 11 11 11 9 10 10 6 9 9
Sub Committees – 2018 / 2019 Course John Thomas (Ch) David Lang Damien Minchenberg Kris Tapp Dianne Lang^ Rowan Daymond* Barry Linke* Robert Vincekovic* Finance Nicolle Rantanen Reynolds (Ch) Bruno Battistella Kym Linke Robert Vincekovic* Barry Linke* Emma Twartz*
Match David Lang (Ch) Craig Coleman Craig Martin John Thomas Dianne Lang^ Barry Linke* Robert Vincekovic* Simon Andrew* Membership Kym Linke (Ch) Damian Minchenberg Nicolle Rantanen Reynolds Barry Linke* Robert Vincekovic* Emma Twartz* Ladies Jody Kardachi (President) Dianne Lang (Captain) Elizabeth Warhurst (Vice President) Joy Prior (Vice-Captain) Kay Mousley Trudi McNamara Kathryn Needs Carolyn Palmer Junior Development Craig Coleman (Ch) Craig Martin Belinda Singleton Warren Mercer* Simon Andrew* Robert Vincekovic* Jamie Smith* Strategy & Governance Bruno Battistella (Ch) Nicolle Rantanen Reynolds David Lang John Thomas Barry Linke* Robert Vincekovic*
2019 Pike Cup Team 4
Golf SA Representative John Thomas President is ex-officio on all Sub Committees ^ Lady President and Lady Captain attend by invitation * Staff Members
ANNUAL REPORT 2019
President’s Report INTRODUCTION
COURSE
The 2018/19 year has certainly been an exciting one for The Grange Golf Club and it is with great pride and pleasure that I present this report, my fifth, as President. Along with hosting a second very successful Women’s Australian Open, the Club enjoyed another solid financial year.
For our Course Superintendent, Rowan Daymond, and his staff the past 12 months has certainly proven difficult with not only lack of water and harsh conditions causing issues, but also trying to prepare the West Course for the Women’s Australian Open (WAO) during this period. However, all the stresses associated with this have now washed away with the significant recent rainfall recorded on the course. The efforts of Rowan and his staff, in providing some superb playing surfaces throughout the year, and in particular for the WAO, must be commended.
Your Committee has, once again, focused on improving and maintaining both golf courses at a high standard as well as the facilities and services presented to members and guests of the Club. A summary of the major achievements in the past year is as follows: •
In February the Club hosted the 2019 ISPS Handa Women’s Australian Open. The event was televised live from The Grange Golf Club into over 220 million households in more than 45 countries. Co-sanctioned with the LPGA in the United States and with prize money exceeding AUS $1.8 million (the richest golf event in Australia), the tournament attracted some of the best female golfers in the world and with over 34,000 spectators through the gates over the 4 days, the event was a huge success for not only The Grange but for Golf and Tourism in South Australia as a whole.
•
The Club recorded a net profit of $138,904 for the year, once again a great financial result.
•
A reduction in debt of approximately $760,000 for the year.
•
Another successful year from a membership perspective with 104 new members joining the Club.
•
A major wetlands system upgrade, equipping a new recharge bore, installing new water storage tanks and updating the entire wetlands communication system. This upgrade enables us to clean and store significantly greater levels of storm water this winter for use in summer months.
•
The first ever members milestone luncheon recognising 30, 40 and 50 year members was held in December 2018.
•
We are leaders in the country in relation to Golf Australia’s Vision 2025 strategy – The future of Women and Girls in golf.
The Green keeping team, knowing the conditions they were to face leading into the tournament, put into place programs to assist through the trying weather conditions. The WAO was a massive success and our course staff were able to get the results they worked so hard to achieve. Long hours and planning in the lead up really set them up to be able to enjoy the week. From greens to vegetation, the course shone and it was great to get very positive feedback for the team from Golf Australia, the Professionals, members and visitors to the Club. Turf health improvement and excellent playing surfaces have continued beyond the event and the team should be very proud of what they have achieved in 2018/19. The course staff faced some tragic news during the year with the sudden passing of Aiden Johanson, a young but enthusiastic trainee greenkeeper. However, the team banded together and worked towards the common goal that was to prepare for the WAO. The Club welcomed Chris McCulloch to the position of Senior Assistant Superintendent. Chris came from the Australian Golf Club and brought with him a wealth of both tournament and staff management experience. The appointment
of some other senior personnel, along with continued support of existing team members, has given the group more experience and versatility and seen the team become a stronger and more efficient unit. As we move forward, Rowan has indicated a need to increase staff numbers to enable him to make a difference in the daily presentation of the courses. The Committee will be working with Rowan and his team to provide the best possible playing conditions on both courses for members and guests of the Club. A major focus for Rowan this past year was the supply, quality and sustainability of our water source. Therefore programs such as our wetlands system need to be active and operating efficiently for as much of the year as possible. Although the wetlands work is still being completed, we are now injecting automatically, during and after rainfall events, with this year’s total now at 70 million litres having been injected back into the aquifer. Larger water holding tanks that were installed at the works compound saw a huge difference in the way we irrigated last season. Starting irrigation cycles with larger amounts of water gives us the ability to rotate our bore use along with the ability to pump directly from the wetlands into our holding tanks. Improvement of daily presentation of the courses has seen programs such as vegetation management and bunker restoration given priority, with areas on both courses now presenting exceptionally better. The team is placing more importance on the regeneration of indigenous plant species and hoping to create a more seamless look through the “out of play” corridors whilst anticipating the return, or at least the sustainability, of a number of plant and animal species.
Charlies Angels 5
ANNUAL REPORT 2019
President’s Report The ladies have enjoyed five sponsor days including the ever popular Opening Day, sponsored by Warren Mercer. Many of the ladies have also played in a number of Interclub challenges. The interstate challenges against Woodlands Golf Club and The Royal Canberra Golf Club continue to be very popular. The exchange days at Royal Adelaide Golf Club and Glenelg Golf Club were well supported. Many thanks to the ladies who have generously supported the chosen charity for 2019, the Zahra Foundation. Raffles held at Christmas and the Opening Day lunches raised $2,439 for this worthwhile organisation.
2019 McMillan Shield Team This financial year again promises to be a significant year with a number of projects in motion which will aid in the enhancement of the courses as well as completion of the maintenance facility upgrade. New offices and staff amenities are soon to be constructed to ensure we are compliant with health and safety guidelines and will also assist Rowan and his team to operate in a more efficient and productive manner. MATCH The Pennant season was once again a successful one for The Grange, with the Pike Cup, Ladies A4 and McMillan Shield being victorious in their respective grades. A special mention must be made to the Sanderson Cup team for every player going undefeated until the final. The Simpson Cup, Bonnar Cup, Sharp Cup, Cleek and Senior teams all had great seasons but were defeated in the final. Thank you to all players who represented The Grange in pennant. Congratulations to Riley Marshall from the Simpson Cup team for winning the Tony Mazzone Medal which is awarded to the player who demonstrates hard work and sportsmanship. Grange was once again well represented in the various Interstate Series with Liam Georgiadis, Jamie Smith, Millie Whinney, Ben Layton and Nick Siegmund all playing for South Australia. Jack Thompson and Jin Young Yun were selected as the team captains. The Grange players had excellent success at trophy and Vardon events across the state.
6
Major Trophy & Vardon Winners • Tea Tree Gully – Jamie Smith • Blackwood – Liam Georgiadis/ Jin Young Yun • Flagstaff Hill – Jack Thompson • West Lakes – Colin Coleman/ Jin Young Yun • South Australian Girls Amateur –Jin Young Yun • Royal Adelaide – Cassidy Evreniadis • Glenelg – Jin Young Yun LADIES 2019 has been another busy year for the ladies. It commenced with a team of our ladies, led by Kris Tapp, coordinating the volunteers for the Women’s Australian Open. The ladies worked tirelessly leading up to the event which resulted in a very successful tournament at The Grange. The Grange Sanderson Pennant Team were undefeated this season, with all players winning every match, which is a magnificent effort. Unfortunately, they were beaten by Glenelg in the final with the deciding match going down the 19th hole. Four members of our Team were named in the Sanderson Cup Team of the Year – Jin Young Yun, Ella Adams, Caitlin Roberts and Millie Whinney. The Pike Cup Pennant Team had a successful season, defeating Mid North to win the final. The A4 team were also victorious, defeating Kooyonga in the final at West Lakes, while the Cleek 2 team unfortunately lost the final to Thaxted Park. The Hickory Team fought valiantly all season. Sincere thanks to the members of all the pennant teams for their commitment and dedication. A big thank you also to the managers, caddies, spectators and families for their support this season.
The Ladies Sub Committee has the mission to provide a challenging, competitive and happy golf experience and they certainly have provided this environment, in particular for new members, during the past year and for that I extend my deepest gratitude. JUNIOR The Junior Development Sub-Committee emphasis has been to develop juniors into highly proficient amateurs from beginner to elite level involving a variety of experts and professionals providing support, guidance and structure to golfers. A huge thanks goes to Warren Mercer and his team for providing support and the 147 clinics held throughout the year. During this year’s Pennant Season, the McMillan Shield finished top of the ladder, while Division 2 finished 5th, Sharp Cup Green 3rd and Sharp Cup Gold finishing 2nd. The Grange Junior Foundation Day was a huge success with players raising money for The Grange Junior Development Fund. These funds are used to provide coaching, clinics, trips away and financial support for players. The next trip away is for a group of our elite juniors to Melbourne, to play against two reciprocal clubs and visit a golf assembly factory. MEMBERSHIP During the 2018-19 financial year the Club welcomed 104 new members. A large majority of the membership interest was as a result of the immensely successful ISPS Handa Women’s Australian Open. The yearly budgeted target for new members was achieved, however the slightly higher than expected loss of existing members impacted on the net numbers. Whilst the breakeven for membership numbers fell 24 short, the Club still remains in a very good position.
ANNUAL REPORT 2019
President’s Report Membership Sub-Committee focused on member retention, particularly concentrating on recognising longstanding members with the inaugural Member Milestone Lunch held in December. Once again, we congratulate all members who attended the event and reached the significant milestone of 30, 40 or 50 years of membership. At the conclusion of the membership year, The Grange Golf Club had 2066 members. This consisted of 1591 playing members, of which 105 were junior members, and 475 non-playing, social or special honorary members. At 30 June 2019, the Gym @ Grange had 131 members and continues to be a great drawcard for The Grange. We would like to extend a warm welcome to all of the Club’s newest members, we are delighted to have you as part of our Club. PRO SHOP The past 12 months have seen some huge changes in the Pro Shop at The Grange. The introduction of some new brands, a new shoe fitting room and some staff changes, along with the fact that there are seven PGA Professionals working there plus state-ofthe-art technology giving members a great opportunity to improve their game, the Pro Shop @ Grange is, without exception, the best equipped Pro Shop in South Australia. I would urge all members to check out the Pro Shop, which now has an online store, whenever they have the need for any golfing equipment, accessories, attire etc. The introduction of a monthly newsletter, video tips on technique and course care have also been received extremely well by members.
I thank Warren and his team, who take great pleasure in providing excellent service to members and visitors to The Grange Golf Club. A welcoming smile is always available, even with the early starts and late nights, by the team in the Pro Shop which certainly provides an enjoyable environment for all members and visitors. To those members who support the Pro Shop at The Grange I also extend my thanks. HOUSE Combined hospitality recorded a surplus of $198,522 for the Financial Year. Thanks primarily to the Women’s Australian Open, this result is a $50,000 improvement on last year. The atmosphere around the Club is definitely positive with increased restaurant numbers, solid member function attendances and a great vibe throughout the bistro and bar area. House Manager, Dani Caruso and her team have provided excellent service to match the great quality food coming out of the kitchen thanks to Head Chef David Clay and his team. The hospitality sector remains at the forefront of importance as we aim to create a sense of community when Members and guests walk through the door on a daily basis. The wine lunches at The Grange continue to be a highlight on the calendar with Hugh Hamilton and Z Wines hosting this year. Thank you to all members who support our events and to those that have not been previously, I invite you to come along and experience the food, drink and fun atmosphere. I am certain you will be impressed.
TABLE 1. THE GRANGE MEMBERSHIP SUMMARY 2018/19 Category – Playing Rights
17/18
18/19
Category 1 – 7 Day
746
705
Category 2 – 6 Day
408
404
Category 3 – 5 Day
332
326
Category 4 – Cadet & Junior Under 21
93
77
Category 4 – Intermediate 21 & Under 26
19
28
Category 5 – Absent / Non-Playing
357
373
Category 5 – Absent / Non-Playing Under 26
17
15
Category 6 – Corporate
15
22
Category 7 – Fully paid
13
13
Category 8 – Social & Special Honorary
71
87
Other – Ambassador, Professional & Life
10
16
Total
2081
2066
Total Playing
1636
1591
Total Non-Playing
445
475
Grilled @ Grange results continue the upward trend averaging 62 patrons, an increase of 11 on last year, over the 94 open weekend nights, and contributed $235,000 revenue for the Club. The grill, especially during the successful Twilight series, continues to provide members a perfect opportunity to showcase their Club to family and friends as well as exposing non-members to our vibrant friendly Club. It is always great to hear the positive feedback about the consistently high-quality meals whilst maintaining a reasonable price. We encourage all members to utilise the hospitality facilities whether it be in the bar or bistro after a round of golf or enjoying a night at Grilled @ Grange on Friday and Saturday evenings. FINANCE The 2019 Financial Statements disclose that the Club had another solid financial performance this year with a profit of $138,904 in addition to further debt reductions of $760,000. This positive result combined with the induction of 104 new members is similar to that of 2018 and again edges us closer to our Destination 2020 – Vision and Strategy goals. Hosting our second ISPS Handa Women’s Australian Open further enhanced The Grange brand as it brought the Club invaluable worldwide exposure. As in 2016 the ‘best Women’s Australian Open in living memory’ the 2019 event went exceptionally well and surpassed that of 2016. We as a Club were responsible for the food and beverage outlets (Clubhouse, Grange Grill at the Pro Shop, the popular Coopers Roll Bar, Canadian Club Bar, contracted food outlets in the Village, and two locations on course) as well as car parking on our East Course. A financial summary of the event is detailed below: Income – Food, Beverage & Car Parking
$329,190
Stock Cost & Hospitality Wages
($168,102)
Additional Course Expenses (including extra course staff)
($68,087)
Various Equipment Hire, Electrical ($45,710) Upgrade & Internet Upgrades
NET SURPLUS
$47,291
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ANNUAL REPORT 2019
President’s Report The Club aims to at least break even financially from the event, therefore we are very pleased with the result given that we kept prices reasonably low, and ensuring all members and visitors who attended enjoyed the atmosphere of all four days. The main drawcard in hosting the tournament is the large exposure the Club receives while attracting new members. During the two months following the event we welcomed 44 new members to the Club and a further ten members, inspired by the quality golf, returned to playing categories. As in 2016 the Club was again given continuous praise from players, members, spectators and viewers overseas and the R&A regarding the course, services and atmosphere of The Grange Golf Club. The financials show that the Commonwealth Bank debt and Member Investments were reduced by a further $760,000 in the 2018/19 year. Membership subscriptions fall due on 30 June each year, therefore our lowest point of debt is recorded on 31st July 2019 which this year stood at $1.9 Million, and the entire balance made up of member investments in the Club. Committee and management continue to place an emphasis on debt reduction. Although we have a maintenance shed upgrade planned we still expect to retire the member investments over the next couple of years and close in on our strategic goal of being debt free. General capital replacement continued in 2018/19 as per our usual program of mowers, course machinery and golf carts. The major items of note include: • • • • • • • • •
2 x 500,000 litre water tanks situated at the Maintenance Shed Jacobsen LF570 Fairway Mower 3 x Jacobsen Eclipse 322 Hybrid Mowers 2 x John Deere TX Gators John Deere Blower 1550 John Deere Tractor & Loader 10 x E-Z-Go Elite Lithium Golf Carts Wine Emotion Quattro 4 Bottle Dispensing Unit Members Bar, Grange Room and Beeston Room Operable Walls
The Club is now powered by 2 x 99.9kW solar systems which help reduce the everincreasing power costs. The systems in 2018/19 have saved the Club $44,740 in electricity. The first system has done extremely well producing approximately 145,000 kWh per year and this coming year will have offset the initial capital cost. The second system was installed two years later on the maintenance shed and is currently
8
producing approximately 130,000 kWh. All the power created from both systems is fully consumed and therefore no power has been put back to the grid.
operations, and the week of the tournament saw 38 green keeping staff on site as opposed to the normal 22. •
The Gym @ Grange membership has been steadily increasing this year and continues to be a solid income earner for the Club. This year gym membership and MSK @ Grange rent contributed $43,830. The facilities continue to be popular with current and potential members. Given the success of the facility we have recently had Clubs in other states investigating our gym/ physio model with a plan to incorporate something similar at their Clubs.
•
Rental income from our telecommunication towers contributed $29,335 this year. We now have both Telstra and Optus operating from the tower located by the 6th East Green. Recent improvements to the Clubhouse including plumbing, electrical, painting and other general work over the last couple of years has proved beneficial with a $41,935 saving on last year in repairs and maintenance.
•
With a restructure of our cleaning operations we note that the Clubhouse wages have reduced this year by $40,191 which is offset by new contracted cleaners and an expense of $55,532. A majority of the remaining $15,000 variance was used towards additional course marshalling and monitoring of the dress code on certain days. Course marshal wages were included in clubhouse wages and we believe it has been very effective in speeding up play on competition days.
Some key observations were made this year from our operating results. Major input areas for the year ended 30 June 2019 are summarised below and compared to the previous financial year: •
•
Green fees from visitors, small group bookings, corporate golf and member guests was a solid contributor, although slightly down on last year, with $432,838 income. In the lead up to the Women’s Australian Open we did not take any corporate bookings and we also limited visitor golf, hence the decrease. In saying that, visitor numbers were still extremely strong for the months we did accept bookings and we continue to benefit from the positive traction following the event. Hospitality operations contributed $198,522 this year, approximately $50,000 more than last year on the back of the Women’s Australian Open. It was great seeing so many members and their guests supporting the event. Course wages were the biggest expense for the year at $1.55 Million, approximately $220,000 more than last year. This year we operated at our budgeted maximum numbers however in the lead up to the Women’s Australian Open we hired additional staff to present the course in the best condition possible. In the month leading up to the event many additional overtime hours
2019 Women’s A4 Team were required compared to normal
ANNUAL REPORT 2019
President’s Report •
Entrance Fees contributed $210,609 in this financial year. From the 104 new members joining the Club this year, contemporary membership was a popular option taken up by 24 members, in addition to 28 new junior members.
•
The Junior Development Reserve Fund received an additional $2,546 this year to take the total to $114,320. Junior golf expenses totaled ($28,216) however were offset by junior donations of $30,762 (ex GST) thanks to The Grange Junior Foundation Day.
Overall it was another very pleasing year in which we returned a solid profit of $138,904 and significantly reduced our debt. The Women’s Australian Open was definitely the highlight of the year. We now look to build on the success, with great teams throughout the Club ensuring that the high standards continue, both on course and in the clubhouse, this coming year. The future financial position of our Club is extremely secure and we are committed to making The Grange Golf Club the premier golfing facility in the state. ACKNOWLEDGMENTS We are privileged at The Grange to have the quality of staff that we do. From Management to Administration, Hospitality to Greenkeeping, they continue to do an excellent job to ensure the high standards set by the Club are met with pride, enthusiasm and attention to detail. Their role is to provide members of the Club, as well as guests and visitors to The Grange, with the best possible experience a Club can offer, and they do that so well. In particular however, I would like to acknowledge and thank the following staff for their contribution and commitment towards the betterment of The Grange Golf Club: •
Barry Linke, who on 3rd July 2019, celebrated 30 years as General Manager of The Grange Golf Club. His dedication to the Club is unquestionable and his experience and exceptional knowledge are a valuable asset to both myself and the Committee. Congratulations Barry and we all thank you for your contribution to the Club over the past 30 years.
•
The Administration and Finance team are led by Robert Vincekovic and he, along with the team behind the front office counter, do a wonderful job in keeping the Administration side of the Club in order.
•
Rowan Daymond, the Course Superintendent, along with his green keeping staff, have done an excellent job, often in very trying conditions, to present our two courses to the highest possible standard for the enjoyment of our members and guests to the Club.
•
Warren Mercer, our Club Professional, and his team in the Pro Shop, for providing the best equipped Pro Shop in the state as well as excellent service to both our members and guests, and always with a smile.
•
Head Chef, David Clay, along with his kitchen staff have certainly brought some exciting variety to the restaurant and bistro.
•
Dani Caruso, along with the hospitality staff, provide service second-to-none to the members and guests of the Club.
To each and every one of my Committee members I extend my deepest gratitude for their support, guidance and assistance over the past twelve months. We are fortunate to have such a hardworking and passionate Committee who play such an integral part in the efficient running of The Grange Golf Club. They have not only made my job as President easier but made this position an extremely rewarding one. To the Club Captain, David Lang, for coordinating a great golfing programme over the past year, I sincerely thank for his tireless efforts and ongoing support. David steps down this year after serving not only 2 years as Captain of The Grange Golf Club but also 4 years as Vice Captain, a total of 6 years on Committee. David, on behalf of myself, the Committee and Members of The Grange Golf Club I extend a very sincere thank you for your contribution to the Club over the past 6 years.
Tony Mazzone Medal Winner - Riley Marshall Thank you to the Lady President, Jody Kardachi, the Lady Captain, Dianne Lang and the entire Ladies Sub-Committee for their enthusiasm, dedication and tireless efforts they provide for the benefit of our Lady members. It is very much appreciated by all. On behalf of all members I also acknowledge the ongoing efforts of our Tuesday volunteer group. A huge thank you must go to this group of passionate members who give their time for the betterment of The Grange Golf Club. 2018/19 has been another fabulous year for The Grange Golf Club highlighted by the outstanding success of the 2019 Women’s Australian Open. I take this opportunity to thank each and every member for their support, encouragement and advice. I am proud to be a member and President of this great Club and look forward to working with you in the future to continue to enhance the reputation of The Grange as the premier golfing facility in South Australia, providing the best possible experience for its members. Bruno Battistella President
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ANNUAL REPORT 2019
Mens Club Events & Named Trophies 18/19 2018
2019
CLUB CHAMPION – F McLachlan and P LeMessurier Trophy
Mark Demasi
B GRADE CUP
Robert Bremert
C GRADE CUP
Ray Williams
A GRADE PLATE
Graham Coleman
B GRADE PLATE
Matt Henderson
C GRADE PLATE
Not played
CLUB STROKE CHAMPIONSHIP – Eric Fitzroy Memorial Trophy
Colin Coleman
CLUB FOURSOMES CHAMPIONSHIP
Steve Berridge & Matthew Monsma
Jack Thompson & Tyson Settre
CLUB FOURSOMES B GRADE
Alex Clarke & Hudson Brown
Andy Excell & Peter Gatsios
CLUB FOURSOMES C GRADE
Not played
Ross Fyfe & Richard Barker
CLUB FOURSOMES SENIORS
Jack Hylton & Rick Kinnear
Alex MacMillan & David Thompson
CLUB MIXED FOURSOMES CHAMPIONSHIP – Arunta Cup and Milton and Merle Hatwell Trophies
Anthony Roberts & Caitiln Roberts
GEORGE HOWARD MEMORIAL TROPHY
David Schirripa
CLUB JUNIOR CHAMPIONSHIP RG Thomas Trophy
Nick Thompson
K Robinson Trophy
Nick Thompson
CLUB VETERANS CHAMPIONSHIP - C R Angel Trophy
David Thompson
SUMMER CUP
Charles Breslin & Stephen White
WINTER CUP
Mark Demasi & Scott Webb
PRESIDENTS PLATE and TROPHY
James Sarris
Scott Webb
CAPTAINS PLATE and TROPHY
Michael Coleman
Michael Payne
CHAMPION OF CHAMPIONS – Dalton Cup
Colin Coleman
William Somerfield
ANZAC CUP
Neil Laird
Tony Davidson
PETER HOWARD MEDAL
Kevin Frick
KERRY MCGORM MEDAL
John Agar
GRANGE AMATEUR OPEN – J Custance Memorial Trophy
Jack Thompson
COMMONWEALTH BANK PLATE and TROPHY
Gerry Doran
PAUL BACKHOUSE MEMORIAL ROSEBOWL – Grange Junior Vardon
Frank Vucic
Harrison Burner
RYDE PARRAMATTA CUP
Peter Sossic
Peter Ormsby
9 HOLE TWILIGHT EVENT – Ray and Mollie Scudds Trophy
Jacky Wiles & Peter Robertson
Rick Kinnear & Sue Bremert
POZZA CUP
Rod Southwood
DRYSDALE PLATE – Parent and Child Event
Michael Szyszlak & Jackson Szyszlak
Stephen Smith & Paul Davies
Jack Buchanan
SA Police Club Plate and Trophy CW Robinson Memorial Trophy
Anthony Jones
Steven Findlay
DAVE & JESS MCNALLY MEMORIAL TROPHY
Dani Pearce & Billy Pearce
Dom Zappia & Sarah McBride
MIDWEEK SUMMER CUP
Paul Whaley & Garry Higgie
Paul Quintel & Richard Keating
MIDWEEK WINTER CUP
Mark Demasi & Steven Hann
ComwireIT MIXED SERIES
Robert Bremert & Susan Bremert
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ANNUAL REPORT 2019
Ladies Club Events & Named Trophies 18/19 2018
2019
CLUB CHAMPION
Jin Young Yun
B GRADE CUP
Nicole Siokos
C GRADE CUP
Barbara Shepherdson
A GRADE PLATE
Joy Prior
B GRADE PLATE
Helen Sanderson
C GRADE PLATE
Melissa Grant
VETERAN’S SALVER
Sue Bremert
VETERANS PLATE
Margaret Stevens
JEAN MCNICOL ROSE BOWL
Jin Young Yun
LADIES FOURSOMES A GRADE
Sue Hedley & Louise Glennon
Sue Hedley & Louise Glennon
LADIES FOURSOMES B GRADE
Kris Tapp & Trudi McNamara
Deb Downes & Joy Prior
LADIES FOURSOMES C GRADE
Dawn Sparrow & Moira Smith
Moira Smith & Dawn Sparrow
VETERAN’S CUP
Carmel Giles
JOYCE MORLEY MEDAL
Jan Hinkly
PRESIDENT’S HANDICAP FOURSOMES
Alison Jones & Susan Barreau
Deborah Miller & Leeanne Manuel
CAPTAIN’S HANDICAP FOURSOMES
Karen Brand & Joy Prior
Sue Bremert & Claire Ouslinis
LAUREL WREATH
Jude Carling - Sacharias
SHYLIE RYMILL FOURSOMES WEST
Sandy Furnell & Kriss Tapp
Sandra Furnell & Kris Tapp
SHYLIE RYMILL FOURSOMES EAST
Natalie Rutherford & Carolyn Proctor
Trudi McNamara & Kerry Brown
MIXED CANADIAN FOURSOMES
Robert Bremert & Susan Bremert
Richard Benbow & Sue Olsen
GRANGE SALVER
Jin Young Yun
Charley Jacobs
JUNIOR GIRLS CHAMPION
Jin Young Yun
LADIES MOST IMPROVED
Sandy Alston
ARETA TAYLOR MEMORIAL TROPHY
Jacqui McHale & Philip Dunn
LADIES SUMMER CUP
Sue Hedley & Louise Glennon
LADIES WINTER CUP
Helen Sanderson & Debbie Agar
Carmel Giles & Sue Dob
11
Financial Report For the Year Ended 30 June 2019 Committee Report
14
Statement by the Members of the Committee
15
Statement of Comprehensive Income
16
Statement of Financial Position
17
Statement of Changes in Equity
18
Statement of Cash Flows
19
Notes to the Financial Statements
20
Independent Auditor’s Report
30
ANNUAL REPORT 2019
Financial Report For the Year Ended 30 June 2019 Committee Report Your Committee Members submit the financial report of The Grange Golf Club Incorporated (“the Club”) for the financial year ended 30 June 2019. The names of Committee Members throughout the year and at the date of this report are: Mr Bruno Battistella Ms Nicolle Rantanen Reynolds Mr David Lang Prof John Thomas Mr Craig Coleman Mr Kym Linke Mr Craig M Martin Mr Damian Minchenberg Ms Belinda Singleton Mrs Kristine Tapp Mr Graeme Hand
President Vice President Captain Vice Captain Member Member Member Member Member Member Vice President
(resigned September 2018)
Principal Activities The principal activities of The Grange Golf Club Inc. during the financial year were the provision of recreational golfing facilities. Significant Changes No significant change in the nature of these activities occurred during the year. Operating Result The net surplus / (deficit) for the year amounted to a surplus of $138,904 (2018: $168,938). Matters subsequent to the end of the Financial Year No matter or circumstance has arisen since the end of the year which significantly affected or may significantly affect operations of the Club, results of those operations or the state of affairs of the Club in subsequent years. Benefits received by Committee Members In accordance with section 35(5) of the Associations Incorporation Act, 1985, the Committee of the Club, hereby states that during the year ended 30 June 2019: (a)
(b)
- no Committee Member; or - no firm of which the Committee Member is a member; or - no entity in which the Committee Member has a substantial financial interest, has received or become entitled to receive a benefit as a result of a contract between the officer, firm or body corporate and the Club, except as stated in Note 19 to the Financial Statements. no officer of the Club has received directly or indirectly from the Club any payment or other benefit of pecuniary value.
Signed in accordance with a resolution of the members of the Committee.
Bruno Battistella President Signed at The Grange Golf Club this 27th August 2019
14
Nicolle Rantanen Reynolds Vice-President
ANNUAL REPORT 2019
Statement by the Members of the Committee In the opinion of the Committee, the Financial Report as set out on pages 14 to 29: 1.
Presents fairly the ďŹ nancial position of The Grange Golf Club Incorporated as at 30 June 2019 and its performance for the year ended on that date in accordance with Australian Accounting Standards (including Australian Accounting Interpretations), mandatory professional reporting requirements and other authoritative pronouncements of the Australian Accounting Standards Board.
2.
At the date of this statement, there are reasonable grounds to believe that The Grange Golf Club Incorporated will be able to pay its debts as and when they fall due.
This statements is made in accordance with a resolution of the Committee and is signed for and on behalf of the Committee by:
Bruno Battistella President
Nicolle Rantanen Reynolds Vice-President
Signed at The Grange Golf Club this 27thAugust 2019
15
ANNUAL REPORT 2019
Statement of Comprehensive Income For the Year Ended 30 June 2019 Note
2019
2018
$
$
Revenue Membership
2
Entrance Fees
4,407,440
4,329,269
210,609
231,686
Golfing Activities
3
840,857
888,508
House Trading
4
198,522
148,883
Other Income
5
103,993
102,512
5,761,421
5,700,858
Total Revenue
Expenditure Course
6
3,025,577
2,838,584
Clubhouse
7
752,004
801,028
137,977
157,788
Finance Costs Administration
8
1,287,259
1,325,698
Golfing Activities
9
419,700
408,822
5,622,517
5,531,920
138,904
168,938
-
-
138,904
168,938
Total Expenditure
Net Surplus / (Deficit)
Other Comprehensive Income
Total Comprehensive Income ! (&) '2"' '(- , (+& ) +- ( -! , "' ' " % ,- - & '-,6
16
ANNUAL REPORT 2019
Statement of Financial Position For the Year Ended 30 June 2019 Note
2019
2018
$
$
ASSETS CURRENT ASSETS Cash and cash equivalents
10
274,216
265,243
Trade and other receivables
11
134,642
179,826
Inventories
12
100,254
116,628
Other assets
13
99,916
114,610
609,028
676,307
TOTAL CURRENT ASSETS NON-CURRENT ASSETS Trade and other receivables
11
68,552
88,925
Property, plant and equipment
14
14,572,197
14,929,838
TOTAL NON-CURRENT ASSETS
14,640,749
15,018,763
TOTAL ASSETS
15,249,777
15,695,070
455,656
393,064
-
-
LIABILITIES CURRENT LIABILITIES Trade and other payables Borrowings
15 16, 24
Amounts received in advance
17
2,293,531
2,224,547
Short-term provisions
18
541,749
505,225
3,290,936
3,122,836
3,191,015
3,951,015
34,746
27,043
TOTAL NON-CURRENT LIABILITIES
3,225,761
3,978,058
TOTAL LIABILITIES
6,516,697
7,100,894
NET ASSETS
8,733,080
8,594,176
8,618,760
8,482,402
114,320
111,774
8,733,080
8,594,176
TOTAL CURRENT LIABILITIES NON-CURRENT LIABILITIES Borrowings Long-term provisions
16, 24 18
EQUITY Retained earnings Reserves TOTAL EQUITY
! (&) '2"' '(- , (+& ) +- ( -! , "' ' " % ,- - & '-,6
17
ANNUAL REPORT 2019
Statement of Changes in Equity For the Year Ended 30 June 2019
Junior Development Note
Balance at 1 June 2017
Retained Earnings
Reserve
Total
$
$
$
8,317,560
107,678
8,425,238
(4,096)
4,096
-
168,938
-
168,938
Balance at 30 June 2018
8,482,402
111,774
8,594,176
Balance at 1 July 2018
8,482,402
111,774
8,594,176
(2,546)
2,546
-
138,904
-
138,904
8,618,760
114,320
8,733,080
Transfer in Reserves Operating Result for the Year
Transfer in Reserves Operating Result for the Year Balance at 30 June 2019
1q
! (&) '2"' '(- , (+& ) +- ( -! , "' ' " % ,- - & '-,.
18
ANNUAL REPORT 2019
Statement of Cash Flows For the Year Ended 30 June 2019
Note
2019
2018
$
$
CASH FLOWS FROM OPERATING ACTIVITIES Membership and other receipts
8,274,070
8,512,416
(6,720,425)
(7,457,558)
(137,977)
(157,788)
1,415,668
897,070
52,126
47,091
Payments for property, plant and equipment
(698,821)
(603,063)
Net cash provided by / (used in) investing activities
(646,695)
(555,972)
Net receipt/(repayment) of external borrowings
(250,000)
(800,000)
Net receipt/(repayment) of member borrowings
(510,000)
245,000
Net cash provided by / (used in) financing activities
(760,000)
(555,000)
8,973
(213,902)
265,243
479,145
274,216
265,243
Payments to suppliers and employees Interest paid Net cash provided by / (used in) operating activities
23
CASH FLOWS FROM INVESTING ACTIVITIES Proceeds from disposal of property, plant and equipment
CASH FLOWS FROM FINANCING ACTIVITIES
Net increase / (decrease) in cash held Cash and cash equivalents at beginning of financial year Cash and cash equivalents at end of financial year
10
! (&) '2"' '(- , (+& ) +- ( -! , "' ' " % ,- - & '-,6
19
ANNUAL REPORT 2019
Notes to the Financial Statements For the Year Ended 30 June 2019 NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The financial statements cover The Grange Golf Club Incorporated (“the Club”) as an individual entity, an association incorporated in South Australia under the Associations Incorporation Act (SA) 1985. Basis of Preparation The financial statements are general purpose financial statements that have been prepared in accordance with Australian Accounting Standards – Reduced Disclosure Requirements of the Australian Accounting Standards Board (AASB) and the Associations Incorporation Act (SA) 1985. Australian Accounting Standards set out accounting policies that the Australian Accounting Standards Board (AASB) has concluded would result in financial statements containing relevant and reliable information about transactions, events and conditions to which they apply. Material accounting policies adopted in the preparation of these financial statements are presented below and have been consistently applied unless otherwise stated. The following is a summary of the material accounting policies adopted by the Club in the preparation of the financial report. The accounting policies have been consistently applied, unless otherwise stated. Accounting Policies a)
Income Tax The Club is exempt from income tax under Division 50 of the Income Tax Assessment Act 1997.
b)
Inventories Inventories are measured at the lower of cost and net realisable value. Costs are assigned on the basis of first in first out.
c)
Property, Plant & Equipment Each class of property, plant and equipment is carried at cost less, where applicable, any accumulated depreciation and impairment losses. Property Freehold land is shown at cost. Building assets are shown at cost less any accumulated depreciation and impairment losses. Plant and equipment Plant and equipment is measured on the cost basis less depreciation and impairment losses. The carrying amount of plant and equipment is reviewed annually by the Committee to ensure that it is not in excess of the recoverable amount from these assets. Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Club and the cost of the item can be measured reliably. Depreciation The depreciable amount of all fixed assets, including buildings and capitalised lease assets, is depreciated on a straight-line basis over the asset’s useful life commencing from the time the asset is held ready for use. The depreciation rates used for each class of depreciable assets are: Class of Fixed Asset Plant, Equipment & Furniture Buildings Course
Depreciation Rate 5 % – 40 % 2 % – 15 % 2 % – 10 %
The assets’ residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period.
20
ANNUAL REPORT 2019
Notes to the Financial Statements For the Year Ended 30 June 2019 d)
Financial Instruments Initial recognition and measurement Financial instruments are initially measured at cost, which includes transaction costs, when the related contractual rights or obligations exist. Subsequent to initial recognition these instruments are measured as set out below. Classification and subsequent measurement Amortised cost is calculated as the amount at which the financial asset or financial liability is measured at initial recognition less principal repayments and any reduction for impairment. Loans and receivables - Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market and are subsequently measured at amortised cost. Gains or losses are recognised in profit or loss through the amortisation process and when the financial asset is derecognised. Impairment A financial asset (or a group of financial assets) is deemed to be impaired if, and only if, there is objective evidence of impairment as a result of one or more events (a “loss event”) having occurred, which has an impact on the estimated future cash flows of the financial asset(s). In the case of financial assets carried at amortised cost, loss events may include: indications that the debtors or a group of debtors are experiencing significant financial difficulty, default or delinquency in interest or principal payments. When terms of financial assets that would otherwise have been past due or impaired are renegotiated, the Club recognises the impairment for such financial assets by taking into account the original terms as if they have not been renegotiated so that the loss events that have occurred are duly considered. De-recognition Financial assets are derecognised when the contractual right to receipt of cash flows expires or the asset is transferred to another party whereby the entity no longer has any significant continuing involvement in the risks and benefits associated with the asset.
e)
Impairment of Assets Financial assets are derecognised when the contractual right to receipt of cash flows expires or the asset is transferred to another party whereby the entity no longer has any significant continuing involvement in the risks and benefits associated with the asset.
f)
Cash and Cash Equivalents Cash and cash equivalents include cash on hand, deposits held at-call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts.
g)
Accounts Receivable and Other Debtors Accounts receivable and other debtors include amounts due from members as well as amounts receivable from customers for goods sold in the ordinary course of business. Receivables expected to be collected within 12 months of the end of the reporting period are classified as current assets. All other receivables are classified as non-current assets.
h)
Revenue and Other Income Annual subscriptions are recognised in the subscription year to which they relate with amounts received prior to 30 June being recorded as unearned income at year end. Entrance fees are recognised at the time the member joins the Club. Club levies (bar & dining) charged to members, but unused at the year end, are absorbed into general revenue.
21
ANNUAL REPORT 2019
Notes to the Financial Statements For the Year Ended 30 June 2019 i)
Membership Borrowing Scheme Membership Borrowings (Investment Scheme) are long term borrowings which will automatically be renewed for a 12 month period on 1 July each year unless advised otherwise by the investor no later than 30 June prior. The Club retains the right to repay these borrowings at its discretion at any time. The interest paid was 3.35% for the period ended 30 June 2019. Interest is paid quarterly in arrears, unless alternative payments were requested.
j)
Borrowing Costs All borrowing costs are recognised as expenses in the period in which they are incurred. Employee Benefits Provision is made for the Club’s liability for employee benefits arising from services rendered by employees to the end of the reporting period. Employee benefits that are expected to be settled within one year have been measured at the amounts expected to be paid when the liability is settled. Employee benefits payable later than one year have been measured at the present value of the estimated future cash outflows to be made for those benefits. The provision for employee entitlements to long service leave is accrued based on a percentage related to the employees’ years of service as per the policy adopted by Committee. An accrual of 25% is raised after 4 years of service, 50% after 5 years, 75% after 6 years and 100% after 7 years. Upon reaching 7 years’ service the calculation is based on the accrued hours multiplied by the employees’ pay rate. Historically long service leave has been taken upon termination and therefore on costs are not included.
k)
l)
Goods and Services Tax (GST) Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian Taxation Office (ATO). Receivables and payables are stated inclusive of the amount of GST receivable or payable.
m)
Comparative Figures When required by Accounting Standards, comparative figures have been adjusted to conform to changes in presentation for the current financial year.
n)
Accounts Payable and Other Payables Accounts payable and other payables represent the liabilities outstanding at the end of the reporting period for goods and services received by the Club during the reporting period that remain unpaid. Amounts normally paid within 30 days of recognition of the liability.
o)
Critical Accounting Estimates and Judgments The Committee Members evaluate estimates and judgments incorporated into the financial report based on historical knowledge and best available current information. Estimates assume a reasonable expectation of future events and are based on current trends and economic data, obtained both externally and within the Club.
p)
New and Amended Accounting Policies Adopted by the Entity The AASB has issued new and amended Accounting Standards and Interpretations that have mandatory application dates for future reporting periods and which the entity has decided not to early adopt. As at the time of preparing these Financial Statements, the Club has not undertaken an assessment to determine whether any new Accounting Standards will have a material impact on the future financial performance and/or position of the Club.
q)
Reserves – Junior Development Fund The Club Committee resolved in June 2016 to establish and recognise a reserve account called Junior Development Reserve Fund. The purpose of this reserve is to ensure that sufficient funds are set aside for use in funding the development of junior golfers at the Club. This is treated as an equity reserve and has no impact on the financial performance or position of the Club.
22
ANNUAL REPORT 2019
Notes to the Financial Statements For the Year Ended 30 June 2019 D5 . , +")-"(' ,
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23
ANNUAL REPORT 2019
Notes to the Financial Statements For the Year Ended 30 June 2019
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ANNUAL REPORT 2019
Notes to the Financial Statements For the Year Ended 30 June 2019 CB5
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CF5 4 )0 ' (.- #( ,,3#(! ')/(.- Movement in the carrying amounts for each class of property, plant and equipment between the beginning and the end of the current financial year: Total
$
$
Buildings
Course Construction
Course Irrigation
$
$
$
$
$
2,153,451
5,033,730
3,313,114
2,765,230
1,284,346
364,067
15,900
14,929,838
Additions
-
19,187
-
119,628
347,802
74,173
138,031
698,821
Disposals
-
-
-
-
(43,517)
-
-
(43,517)
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-
(275,527)
(131,068)
(246,226)
(279,420)
(80,704)
-
(1,012,945)
2,153,451
4,777,390
3,182,046
2,638,632
1,309,211
357,536
153,931
14,572,197
Balance at 1 July 2018
Carrying amount at
Plant & Furniture & Equipment Fittings
WIP
Freehold Land
$
30 June 2019
25
ANNUAL REPORT 2019
Notes to the Financial Statements For the Year Ended 30 June 2019
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ANNUAL REPORT 2019
Notes to the Financial Statements For the Year Ended 30 June 2019 CH5
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27
ANNUAL REPORT 2019
Notes to the Financial Statements For the Year Ended 30 June 2019 DC5 ! + 0 + '( ('-"' '- %" "%"-" , (+ ,, -, -( + )(+- 6 DD5 ! + 0 + '( / '-, ,. , *. '- -( JG .' IGHP -! - ' -( ", %(, "' -! "' ' " % ,- - & '-,6 DE5
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ANNUAL REPORT 2019
Notes to the Financial Statements For the Year Ended 30 June 2019 DF5 ; < (% ) ( = 0 , , . #&#.3 ! (&&('0 %-! '$ > ? %( ' "%"-2 % ' , - JG .' IGHP 0 , DNLG3GGG6 ! -(- % "%"-2 -! / "% % ", DK6L "%%"('6 ! & -.+"-2 - ( -! "%"-2 ", IO +. +2 IGIH6 ! %. ! , -! DHGG3GGG (/ + + - "%"-2 0"-! -! -! - + & "', .' + 0' , - JG .' IGHP6
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29
ANNUAL REPORT 2019
Auditors Report For the Year Ended 30 June 2019
INDEPENDENT AUDITOR’S REPORT To the Members of The Grange Golf Club Inc.
Opinion We have audited the financial report of The Grange Golf Club Inc. “the Association”, which comprises the Statement of Financial Position as at 30 June 2019, the Statement of Comprehensive Income, the Statement of Changes in Equity, the Statement of Cash Flows for the year then ended, and notes to the financial statements comprising a summary of significant accounting policies and other explanatory information, and the Statement by the Members of the Committee on the financial report. In our opinion, the accompanying financial report presents fairly, in all material respects, the financial position of the Association as at 30 June 2019, and its financial performance and its cash flows for the year then ended in accordance with the financial reporting requirements of the Associations Incorporation Act (SA) 1985. Basis for Opinion We conducted our audit in accordance with Australian Auditing Standards. Our responsibilities under those standards are further described as in the Auditor’s Responsibilities for the Audit of the Financial Report section of our report. We are independent of the Association in accordance with the auditor independence requirements of the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (the Code) that are relevant to our audit of the financial report in Australia. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Information Other than the Financial Report and Auditor’s Report Thereon The Committee of the Association is responsible for the other information. The other information comprises the information included in the Association’s annual report for the year ended 30 June 2019, but does not include the financial report and our auditor’s report thereon. Our opinion on the financial report does not cover the other information and accordingly we do not express any form of assurance conclusion thereon. In connection with our audit of the financial report, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial report or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. The Committee’s Responsibility for the Financial Report The Committee of the Association is responsible for the preparation and fair presentation of the financial report in accordance with the financial reporting requirements of the applicable legislation and for such internal control as the Committee determines necessary to enable the preparation and fair presentation of the financial report that is free from material misstatement whether due to fraud or error. In preparing the financial report, the Committee is responsible for assessing the Association’s ability to continue as a going concern, disclosing, as applicable, matters relating to going concern and using the going concern basis of accounting unless the Committee either intends to liquidate the Association or to cease operations, or has no realistic alternative but to do so.
Liability limited by a scheme approved under Professional Standard Legislation
30
ANNUAL REPORT 2019
Auditors Report For the Year Ended 30 June 2019
Auditor’s Responsibilities for the Audit of the Financial Report Our objectives are to obtain reasonable assurance about whether the financial report as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that the audit conducted in accordance with the Australian Auditing Standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of financial report. As part of an audit in accordance with the Australian Auditing Standards, we exercise professional judgement and maintain professional scepticism throughout the audit. We also: •
•
• •
•
Identify and assess the risks of material misstatement of the financial report, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Association’s internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Committee. Conclude on the appropriateness of the Committee’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Association's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial report or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the economic entity to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the financial report, including the disclosures, and whether the financial report represents the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. DEAN NEWBERY & PARTNERS CHARTERED ACCOUNTANTS
SAMANTHA CRETEN PARTNER
Signed on the 30th day of August 2019, at 214 Melbourne Street, North Adelaide, SA 5006
31
ANNUAL REPORT 2019
House Trading Statement For the Year Ended 30 June 2019
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32
ANNUAL REPORT 2019
Summary of Last 5 Years
Number of Members Subscription Rate (exc GST) Staff (including trainees and apprentice staff) - Administration (Full-Time only) - Course (Full-Time Equivalent) - Bar & Catering (Full-Time only)
Members Fund's at End of Year ($,000â&#x20AC;&#x2122;s)
2019
2018
2017
2016
2015
2066
2081
2092
2059
2061
$3,057
$2,911
$2,773
$2,616
$2,492
5.3 21 4.7
5.3 20 4.7
5.3 21 4.7
5.3 20 3.7
5.3 20 4.7
8,733
8,594
8,425
8,261
8,159
33
The Grange Golf Club Inc White Sands Drive, Grange, South Australia PO Box 7462, West Lakes SA 5021 Tel 08 8355 7100 Fax 08 8355 7199 info@grangegolf.com.au www.grangegolf.com.au