Club Sponsors
The CYCSA thanks its sponsors for their support during 23/24
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Administration
General Manager
Financial Controller/2IC
Finance Administrator
Berth Sales & Leasing
Marketing & Communications
Reception & Member Services
Sailing Operations Manager
Marine Academy Principal
Racing Administrator
YSF Head Coach
Boating Operations
Adam Hays
Kerry O’Brien
Cathy Menzel
Eryn Wyithe
Mellissa Vahoumis
Kimberley Murray
Greg Allison
David Royle
Inese Lainis
Luke Allison (from Sept 23)
Madeline Salter (until Sept 23)
Guy Wogan-Provo
Maintenance Supervisor Shanan Gilchrist
Gardening & Maintenance
Bar & Bistro Manager
Head Chef
Steve Miller
Vinny Bungey
Nick Dodd
Haresh Singh
Camillo Crugnale
Sous Chef Jessie Giumelli
Port Vincent Manager Rob Marner
Club Associations
Cruising Association Committee
Chair Darren Harvey (Chair, Treasurer)
Miguel Alemao, Jack Didyk, Israel Dunk, Rod Hunter, Tracey Hutt (Deputy Chair, Secretary), Howard Murton, Julie Verco, Adrian Wotton
Fishing Association Committee
Chair Peter Schembri
Vadis Rodato (Deputy Chair), Vlad Humeniuk (Treasurer), Glen Simpson (Secretary), Nathan McArdle
Racing Association Committee
Chair Rob Human
Wayne Grant (Safety Officer), David Hughes (Race Officer), Inese Lainis (Racing Administrator), Andrew Lloyd, Curtis Mitchell, Dianne Schwerdt, Guy Wogan-Provo, Greg Borg (ex officio)
Social Activities Association Committee
Chair Giorgina Gauci
Rosemary Gould (Treasurer), Jacqueline Heffernan, Jenny Murton, Ann Marie Wallage, Adrian Wilson, Clay Tenni
Other Associations
The Cruising Yacht Club of SA is a member of the following Associations: Boating Industry Association, Australian Sailing, Marina Industries Association, Clubs SA, Yachting South Australia, Good Sports, STARCLUB, Recreation SA.
Board Committees
Finance, Audit and Risk Committee
Chair David Hughes
Kerry O’Brien, Peter Hall, Adam Hays, Mark Johns, Mark Hutton
Boating and Training Advisory Committee (formerly the Marine Academy Advisory Committee)
Chair Doreen Perrin
Geoff Catt, Jeff Dinham, Rod Hunter, Mark Hutton, Andrew Saies, Greg Allison, Adam Hays, David Royle (Principal)
Facilities Committee
Chair Mark Hutton
Adam Hays
Youth Sailing Foundation Advisory Committee
Chair Doreen Perrin
Robbie Deussen, Nick Bice, Caroline Cowen, Luke Allison (Head Coach), Greg Allison, Adam Hays
Marketing, Communication & Sponsorship Committee
Chair Jacqueline Heffernan
Garth Heynen, Adam Hays, Mike Holmes, Heath Patten, Mellissa Vahoumis
Other Committees
CYCSA Insurance Fund Advisory Committee
Chair Rob Sellick
David Roper (Board ex officio), Peter Bolton, Peter Donovan, David Everett, Graeme Footer, Wayne Grant, Steve Perkins
All Associations Committee
Chair Mike Holmes
Pat Catley, Jeff Dinham, Adam Hays, Rob Human, Giorgina Gauci, Darren Harvey, Peter Schembri, Doreen Perrin, David Roper, Di Schwerdt, Gay Footer
Groundswell Committee
Chair Gay Footer
Pat Catley, Dianne Schwerdt, Mellissa Vahoumis
Port Vincent Marina Committee
Chair Andrew Abbott
Peter Codrington, Greg Hackett, Rob Jacobs, Geoff Catt, Adam Hays, Rob Marner (ex officio)
Life Members
Geoffrey R Catt, Craig A Evans, Richard H Fidock AO, Graeme L Footer, John Gerard, Andrew D Saies [deceased: Arthur F Carolan, James A Henry, Malcolm A Kinnaird AC, Peter J Page]
Board of Management
Flag Officers
Mark Hutton Treasurer
David Roper President
Jacqueline Heffernan
Garth Heynen
Doreen Perrin
Mark Johns
Adam Hays General Manager
Troy Smith
Jeffrey Dinham Rear Commodore
Mike Holmes Vice Commodore
Nick Bice Commodore
Di Schwedt Rear Commodore
President’s Report
As I look back over the past year, I’m proud of the progress we’ve made together. Our Club remains a vibrant place where people come to sail, learn and enjoy each other’s company, and this year has seen us build on that strong foundation with some significant achievements.
KEY ACHIEVEMENTS AND EVENTS
This year we marked a big milestone - 50 years of sailing and building our community. We hosted state and national racing events that really showed off our competitive spirit and it was great to see our young sailors making their mark on international waters. Their achievements highlight the strength of our training programs and the passion that runs through our Club.
We also received some well-deserved recognition, winning five Australian Sailing State Awards, including SA Club of the Year. These awards are a direct result of the hard work and dedication of our members, volunteers and staff, who consistently go above and beyond to keep the CYCSA thriving.
Our strategic planning efforts have started to pay off, with key initiatives that focus on improving member experiences, boosting participation, and enhancing our events. This year we established the Membership Marketing and Sponsorship Committee, which has been instrumental in bringing fresh ideas to help grow our membership and raise our profile. The Port Vincent Marina Committee has also been busy, working to address key issues and ensure that this marina remains a vital and well-maintained part of our Club.
STRATEGIC INITIATIVES
In our strategic plan for 2023-26, we identified several key initiatives that have guided our efforts this year:
• Hospitality: We’ve aimed to enhance member engagement by refining our hospitality offerings. This includes diversifying our menu and adjusting Club opening hours to better match member presence, which has led to increased patronage and satisfaction.
• Membership: To grow our membership and increase boating participation, we’re documenting the pathways members can take from social engagement through racing and toward fishing, cruising and boat ownership. This effort will include targeted communications and fostering connections with other clubs.
• Boating: We’ve increased the number and quality of boating events offering more educational opportunities and promoting inclusivity. Our efforts are resulting in more events and higher participation.
• Marinas: We’re working to preserve the value of our marina berths by exploring new options for berth ownership and additional facilities for berth holders.
• Finance and Infrastructure: We’re focused on ensuring the Club’s financial stability by seeking alternative funding streams and maintaining the quality of our assets through a preventative maintenance regime.
President’s Report
VOLUNTEER RECOGNITION AND MEMBER ENGAGEMENT
The Club has made a concerted effort to recognise and reward the contributions of its volunteers which are vital to the Club’s operations and events. The increased focus on volunteer appreciation and engagement strategies, such as the Volunteer Appreciation BBQ and volunteer branded shirts, is strengthening the community spirit within the Club.
I especially thank my Board colleagues for their good work and support this year and congratulate them for their insight and preparedness to ask the hard questions and make decisions in a constructive and professional manner.
Our affiliate arrangements with the Adelaide University Sailing Club, Veteran Sailing SA and the Naval, Military and Air Force Club of SA have expanded our membership and brought fresh energy and increased activity and visibility to the Club.
LOOKING FORWARD
As we move forward there’s much to be excited about. Our long-term plans aim to further improve our facilities, events and overall member experience. The proposed development around Port Vincent Marina is something to look forward to. It will enhance the marina’s capabilities and boost its local tourism, benefitting our members and the broader community.
I want to say a big thank you to all our members, staff, volunteers and the Board for your hard work over the past year. It’s been a pleasure to serve as your President and I’m looking forward to another year of progress and enjoyment at the CYCSA.
David Roper President
Treasurer’s Report
I took over this role from David Roper at the last AGM as he moved up to the role of Club President. I would like to acknowledge the good work David has performed as Treasurer and now continues as President. At the end of my first year as Treasurer I am pleased to present the consolidated financial position of the Cruising Yacht Club of South Australia and Associated Entities to the members for the Financial Year ended 31 May 2024.
This past year has been a challenging one as the costof-living squeeze reduces the discretionary spend. We are also still learning how things have changed after COVID. We believe that the initiatives put in place by past boards are providing new streams of income to assist through this transition. Our membership numbers are also increasing due to the dedication of current Senior Members who promote our Club and the maritime lifestyle through training and mentoring new members. The Boating Conversations have been significant in getting people back to the Club. Thank you to Rod Hunter who has been instrumental in this.
REVENUE
Total revenue has increased on the previous year by $235,244 (up 5%) this excludes unrealised gains in the Sinking Fund. Increased revenue is from Youth Sailing Foundation, ramp income and functions income. There has been an increase in the number of berths sold which has increased commissions collected. All associations have returned a positive contribution. Our main sources of revenue are still membership and corporate fees. Over the past year we have increased our member numbers which is through Marine Academy, and promotions by our members.
EXPENDITURE
Total expenses unfortunately have also grown on the previous year by $293,630 (up 6.7%). Areas where there have been significant increases to expenses are in repairs and maintenance, utilities and legal fees. The location and age of the Club facilities in marine environment, will see increasing maintenance costs. Utility costs are increasing, and we are investigating the viability of increasing the number of solar panels to reduce this cost to the Club. As members will be aware the Club has a complicated entity structure. We have two trusts (CYC Ramp Trust and CYC (SA) Unit Trust) each with their own corporate trustees as well as an incorporated body being CYC of SA Inc. This structure was set up with the establishment of the club and provides members benefits around protection of assets and flexibility for future directions. This structure was set up many years ago, (We are completing our 50th year!) in a different commercial and corporate environment. The Audit, Finance and Risk Committee has therefore recommended that it be reviewed, to ensure that the members still benefit from this structure. Adam and the team have done a good job of controlling operating expenses and cost of goods.
NET CONTRIBUTIONS BY CLUB ACTIVITIES
When expenses are allocated against their associated revenue streams it shows a net contribution for each of the Club activities. Member and Corporate Fees remain the largest net contribution to the Club followed by Hospitality trading activities. Returns from the Sinking Fund make a positive contribution to the Club. The Associations, Marine Academy and YSF are cost neutral or at a small loss to the Club. These activities are vital to creating a vibrant Club, racing administration, growing and supporting membership and Club facilities.
NET INFLOWS EXCLUDING SINKING FUND
Slipping 3% Club sponsorships 1%
NH Boat Ramp 4%
Berth sales & leasing 6%
Hospitality activities 7%
income 0.4%
Membership fees 25%
Corporate fees 54%
NET OUTFLOWS
& related costs 39%
CASH FLOW
Notwithstanding that the expenses increase exceeded the revenue increase we have still managed to return a surplus. There has been significant Capital and Capital Replacement projects completed during the past year, to a total of $488,000. Significant items include; Replacement of the fire hydrant main, minor walkway replacement in Marina East and purchase of a portable office for sailing operations staff to address the overcrowded administration office.
SINKING FUND
Despite the tough economic conditions, the Sinking Fund continues to grow. As at 31 May 2024 the balance was $6,921,324. This is a return on investment of 13% for the year. As planned by the previous Board and Facility Committee, the Sinking Fund has not been drawn down for marina replacement activities this past year. The plan for the coming year is to commence replacement of aging walkway pontoons in Marina East.
BALANCE SHEET
Our Club now has combined Total Assets of $24,974,000, an increase of $504,000 primarily due to the increased (unrealised) value of the Sinking Fund.
The Total Liabilities are $4,914,000, a decrease of $297,000 on the previous year. As at 31 May 2024 the Club has no external bank borrowings.
Below is a graphical representation of the fund over the last four years: Sinking Fund Value (May 2020 to May 2024) Sinking fund Withdrawal to fund overwater assets
The Club and its management continue to embrace strong corporate governance and a positive corporate culture both at Board level and across all business areas.
A summary of the last three years key financial statistics is set out in the following table.
A summary of the last three years key financial statistics
THE YEAR AHEAD
Given the tough economic climate we are experiencing the Club is in a reasonable financial position. These conditions are not expected to change dramatically in the next 12 months however we do have the resources to continue to maintain the facilities to a high standard. It is planned to commence replacement of the main walkways on an as needed basis and progress the replacement of the ageing IT infrastructure.
In summary we have a Club we can be proud of that is flourishing and growing membership. I look forward to another year of boating and expanded social activities supported by all members of the Club.
Mark Hutton Treasurer
The table below shows the historical financial performance of the Club over the past 10 years. The table shows on an annualised basis both the operating surplus and EBITDA (earnings before interest, tax, depreciation and amortisation).
Commodore’s Report
Hello CYCSA members and thank you for maintaining the support of the CYCSA last year. Of course, I only took on the role of Commodore in mid-June, after the unforeseen but understandable resignation of Nick Bice. On behalf of the Club I thank Nick for his service as a Flag Officer. He truly had a massive influence in growing the visibility of the Club and the guidance of the Youth Sailing Program, amongst other things. Nick has left some big shoes to fill and of course a Commodore’s carpark with oil stains from his faithful Mark 1 Land Rover, thanks Nick.
This report is somewhat a little abridged from the version you would normally expect to receive. I would like to start by acknowledging the amazing support from all our volunteers at the Club, without their dedication, we wouldn’t have a vibrant boating community — just a place to store boats and have the occasional meal. As you know, life at the Club is so much more than that, and I’m sure you agree.
I would also like to thank my fellow Flag Officers, Vice Commodore Di Schwerdt and Rear Commodore Jeff Dinham. Their support and unique contributions to the Club have been invaluable.
Our previous year marked the Club’s 50th anniversary, making it a tough act to follow in terms of excitement. Nonetheless, we did a fantastic job! Opening Day was well supported with perhaps a little too much wind but this didn’t dampen the entertainment, including the re-sinking of the time capsule. How many iPhones will be released between now and when the capsule re-emerges on 1 May 2048? Who knows, but one thing is certain, the passion and commitment of our members will ensure that we continue to grow and excel.
In December our President led a focussed and highly commendable strategic planning process to ensure we continue to drive the Club forward to a bright future for the benefit of all our stakeholders; power, cruising, racing and social alike. David and the Board perform a difficult and diligent task to keep our team of committed workers resourced and on course, under the capable helm of our General Manager Adam Hays. I greatly appreciate the hard work that all our Club staff put in, from the front of house in hospitality, our support functions in the office, the kitchen crew, the maintenance team and slipping services.
On water we had two great regattas at the Club. The Premier’s Cup and the Great Southern Regatta, preceded by the amazing South Australian Women’s Keelboat Regatta (SAWKR) held over the October Long Weekend. This event is inspirational and as I sit here writing this report the countdown to the next SAWKR is definitely on, with many teams out on the water training this spring to prepare for the great event.
We take our hats off to the team from Clockwork who have executed an amazing program of sailing both here and on the east coast, including a very tough Sydney to Hobart. Of course we can’t forget the exploits of Geoff Boettcher and the Secret Mens Business team who had great success at both Lincoln Week and national and State IRC TP52 events in NSW. Julian Newton and his Game On 31 crew have also just finished a highly creditable second at the inaugural Cape31 Nationals at Hamilton Island last month. Finally, our Youth Squad proudly took the Club to tenth position in the World Sailing Champions League in Kiel. This outstanding result sets a high benchmark for future teams. Shout out to both the on-water and offwater volunteers that make things happen week after week.
On a sad note, we honour the memory of those we have lost in the boating community over the past year. Our deepest respect goes to the friends and family of Howard Trotter, Trevor Kipling, Peter Teakle, and Ray Evans.
Our Associations are the lifeblood of the Club. Our Fishing Association held charters, cockling and other seafood events that were very well attended. The Social Association Committee held a number of events including the Children’s Christmas Party, All Associations Bash and Easter Egg Hunt plus Italian Night and the Commodore’s Dinner. All executed with a high level of enthusiasm and creativity. Last but not least, the Cruising Association have drawn together the power and sail community across generational divides to create and execute a number of events with other sailing clubs and geographical locations of broad appeal. Let’s also recognise the Marine Academy and the highly successful Friday Boating Conversations evenings. I thank and commend all the volunteers in the associations for putting in tremendous efforts.
In conclusion, I thank the Club, its members and their families that enjoy creating memories here. Thank you for supporting me in my new role and I wish that we all enjoy a great year ahead.
Mike Holmes
Acting Commodore (as at 31.05.24)
All Associations Committee Report
The All Associations Committee convened three times during the 2023/2024 financial year, with all meetings chaired by the now-retired Commodore, Nick Bice. We extend our sincere thanks to Nick along with members Giorgi Gauci, Jacq Heffernan, Jeff Dinham, Peter Schembri, Di Schwerdt, Rob Human and Darren Harvey for their invaluable contributions to the committee’s success.
The idea of the committee is to find common areas of interest between the CYCSA Associations to ensure we maintain a strong alignment.
As newly appointed Commodore of the CYCSA I have now chaired my first committee meeting, that being recently in the new financial year.
Looking forward into this new year several ideas have already been earmarked for implementation. Rob Human and Di Schwert agreed to discuss approaching trailer sailer boats that we have in the Club to boost the competition for SAWKR this October. At time of writing, I am unclear if new boats have been included in the Port Adelaide River racing division of SAWKR, but hopefully this will raise awareness year on year.
A new initiative which will be of the benefit to all CYCSA members is the creation of a sub-committee to look at the re-vamp of the Club BBQ area. This has already led to the production of a target specification for what functions the area should be able to satisfy, plus a draft budget for the likely costs to be involved. This is a hugely important project for all the associations and we are taking the time to get the right design in place. We anticipate that work will begin during the quieter period at the end of the calendar year. This will be the subject of a future Groundswell article.
I hope to reinvigorate the committee this coming year and keep the associations focused on maximising the best for our members.
Mike Holmes Chair
Finance, Audit and Risk Committee Report
The Committee had some change in membership throughout the year. After many years in the role, Peter Hall retired as Chair of the Committee in November 2023 and I was appointed chair. Thanks to Peter for his considerable effort in Chairing the Committee for many years.
David Roper (previous Club Treasurer) left the Committee in November on appointment as Club President and Mark Hutton joined as the Club’s new Treasurer. In addition, Mark Johns joined the committee after being appointed to the Board. This Committee also includes Doreen Perrin (Board Member) and Peter Hall (Senior Member) and is assisted by Adam Hays and Kerry O’Brien.
Whilst the Committee does not have decision making powers it is a sub-committee of the Board and provides recommendations and highlights risks and issues to the Board for their consideration.
This Committee met four times during the year and reviewed at each meeting the sinking fund investment performance, financial performance of the Club as well as risks, policies and incidents. The Committee has established a formal risk register, covering both on-water and off-water risks, a clear policy register to ensure all policies are reviewed and updated regularly, as well as reviewing the budgets, external audit and statutory yearend accounts.
In addition to the above, future activities will focus on long term financial planning, incorporating the Board’s Master Plan, risk management, policy reviews and streamlining the Club’s legal structure and documentation.
David Hughes Chair
Port Vincent Marina Committee Report Marketing & Sponsorship Committee Report
The Port Vincent Members Committee (PVMC) was recommenced this year on 2 May 2024. The meetings so far have been both productive and enlightening. Over the past few months, we have convened three times, laying the groundwork for a vibrant and engaged future for the Club.
Our primary objectives have been to enhance the enjoyment of Marina Port Vincent’s facilities, foster communication and improvements, involve new members, collaborate with other associations, and raise funds to support our initiatives. Here’s a summary of our progress:
Promoting Enjoyment: We have explored several initiatives aimed at enhancing the use and enjoyment of the Club’s facilities. Early feedback suggests a positive reception and we are working to implement more improvements based on member suggestions.
Communication and Improvement: Better communication channels with Club Management regarding member issues and suggestions has resulted in our committee submitting a series of recommendations for improving facilities and services, which are under review.
Cleanliness: We have been focused on cleaning up the Port Vincent Marina with a large emphasis on managing native bird issues. Our focus is to provide a better facility for all users and berth owners.
Coordination with Other Associations: We have successfully liaised with other Club associations, coordinating joint activities that align with the Club’s overall programs. These collaborations will enrich our events and expand our network.
In conclusion, our first term has set a strong foundation for the future. We are committed to further enhance the Port Vincent Marina experience for all members.
I’d like to thank Committee members Geoff Catt, Peter Codrington, Rob Jacobs, Greg Hackett and CYCSA General Manager Adam Hays. Thank you all for your support and participation in making this year a success, see you across the gulf!
Andrew Abbott Chair
The Membership, Marketing and Sponsorship Committee met for the first time on 1 November 2023. The committee currently consists of Mike Holmes, Garth Heynen, Heath Patten, Adam Hays, Mellissa Vahoumis and myself as Chair.
Our purpose is to attract new members, engage current members and retaining existing ones by providing appealing services and activities. To secure financial support from organisations through sponsorships/ donations and promote the Club to benefit members and secure its ongoing growth and ensure sustainability.
Several strategies have been implemented, including a number of surveys focused on member satisfaction. These surveys yielded valuable insights, showing a generally high level of member satisfaction. They also highlighted areas for improvement, which the Board has carefully reviewed. While much of the feedback was practical and positive, I will just mention that we cannot actually “move the Club down the coast”!
Have you noticed the marketing information circulating in the bar and bistro? The TVs currently display short visuals promoting Club life. Soon, they’ll feature stories of members’ journeys of how individuals have moved through various membership categories to Senior membership. You’ll spot both familiar faces and newer members in these highlights.
The Thursday night members draw has been very successful in promoting the Club, primarily due to the generosity of our sponsors. Adam, in particular, appears to have a new sponsor ready lined up for each draw.
The committee welcome any suggestions or feedback that will assist the Club to grow and prosper.
Jacqueline Heffernan Chair
Marine Academy Advisory Committee Report
The CYCSA Marine Academy continues to be an important part of the Club. 2023-24 was the Academy’s seventeenth year of operation and it continues to grow as it assists in enhancing our sport through meeting the purpose of increasing competency, enjoyment, safety and general boating knowledge for both our CYCSA members and the general community.
Importantly the Marine Academy continues to be a successful entity in terms of providing a pathway and attracting membership to the Club. Over the 2024-24 year 25 Marine Academy participants have gone on to become Club members.
COURSES
Courses run and total number of participants for the year were as follows:
The Academy has continued its most recent additions to the program. Firstly, ‘Setting a New Course’, run in partnership the Invictus Pathway Program at UniSA, ran again in October 2023 with ongoing sponsorship from Northrop Grumman. We continue to work with Invictus Pathways and other potential partners to plan for additional courses in 2024-25. A new offering on request is the ‘Whitsunday Preparation Course’ tailored to individual groups who are booking yacht charters around the Whitsunday Island group in Queensland. Over the past season eight people have participated in this new activity. Rod Hunter’s work in developing this course and presenting it has provided a great environment to boost skills and confidence for those who take part. This year also saw an unusual request, it was a booking for a wedding proposal, which happily and successfully took place on a weekday morning in March 2024.
At the time of writing the new 2024-25 Training Program has just been released with some 49 courses planned between September 2024 and May 2025. It also remains the case that we are able to offer private courses both to individuals and groups by negotiation.
HUMAN RESOURCES
The Marine Academy could not function without depending on a fine group of Instructors who collectively cover a diverse range of boating expertise.
Brett Yardley retired as our long serving Chief Instructor by not revalidating his qualifications in April. As a result of this the Academy sought out one of our newer RYA Instructors, Pete Chambers, who was keen to undertake the higher level Yachtmaster Instructor course so that he would be then qualified as our new Chief Instructor. Happily, Pete passed this course in July 2024 and has now been confirmed as our new Chief Instructor.
Matt Young, Stephen Thomas and David Royle undertake Australian Sailing instructing with John Edwards, Andy Shipp, Rod Hunter, Mark Hutton, Pete Chambers and Vernon Schulz as our primary RYA instructors. After more than two years of activity Pete Chambers and Mark Hutton achieved their RYA Yachtmaster Instructor certification during the year under review.
Our Boating Operations maintenance activity is undertaken by Guy Wogan-Provo. Guy’s duties include keeping Southern Investigator and CYC3 at the level required to meet our training accreditation and compliance with Royal Yachting Association (RYA) and Australian Sailing (AS) standards. He also coordinates maintenance for CYC 1, 2 and CYC 5 used predominantly for the Racing Association.
David Royle’s involvement as Principal ensures that the Club maintains its position as a preeminent recreational training facility. The Committee is appreciative of and grateful for David’s passion and expertise in a wide range of necessary skills.
The Marine Academy also appreciates and recognises the Club’s administrative staff and the Advisory Committee members, all of whom have supported the Academy in their various capacities.
ASSETS
The Club’s purchase of Southern Investigator as its main cruising training platform in 2020 was a significant strategic decision. This investment and the vessel’s upkeep has, without doubt, increased our capacity to consistently train more customers in the four years that it has been operating. It is also a fantastic vehicle to recruit Club members who often become boat owners themselves.
The Elliott 7 fleet which became operational in November 2021 will be subject to a separate section of this Annual Report by the Sailing Operations Manager, Greg Allison.
MARKETING AND ADMINISTRATION
The transition of course participants into members remains a priority. Great work undertaken by Rod Hunter and other instructors in welcoming and introducing new trainees to the club through twilight ‘follow the fleet’ sailing is most appreciated. Moreover, the popular monthly ‘Boating Conversations’ on Friday evenings, also championed by Rod Hunter, has been a great success. With a broad range of topics and attendees, numbering up to 100 on some evenings, I am assured that these events will continue.
The Marine Academy continues to advertise successfully through the Club’s social media platforms which are always maintained to a high standard by Mellissa Vahoumis, the CYCSA Marketing and Communications representative.
FINANCIALS
The financial statements included in this report show a deficit of $11,137 for the 2023–24 year.
We thank ICF Insurance Brokers, our insurance brokerage firm, along with North Haven Marine for their continued sponsorship in support of the Marine Academy and safe boating. Members were invited by the Club to voluntarily contribute to either the Marine Academy Foundation or our Youth Sailing Foundation to support their activities. Contributions and members’ support for the Academy once again was fantastic with $8,000 donated.
Finally, a big thank you to my fellow Marine Academy Advisory Committee members - Andrew Saies, Geoff Catt, Jeff Dinham, Mark Hutton and Rod Hunter. Your voluntary time and deep expertise are much appreciated and valued.
Doreen Perrin
Marine Academy Chair
Youth Sailing Foundation
Wow – what a year! The last 12 months have been a hive of activity around the Club, showcasing a full year of sailing activity. The Elliotts have again played a key role in attracting new members to the Club and have provided a hospitality stimulus in the colder months. The CYCSA Youth Sailing Foundation in particular reached new heights with our teams representing the Club at local, national and international events, something the Club should be incredibly proud of.
The Elliotts have been used extensively across a range of sailing and training activities and remarkably since inception, have collectively provided newbies to sailing the equivalent of 1205 hours of sailing.
EVENTS – PARTICIPATION
South Australian Sailing League (SASL)
This event hosted by the CYCSA and conducted in the Port River Basin attracts yacht clubs and teams from around South Australia. The Stadium Sailing format allows spectators to feel as if they are almost in the boats. Fifteen teams representing over eight yacht clubs battled it out on the river in testing conditions over three days in December 2023. The event had a running commentary organised by Harry Fisher’s team and last year was televised to all of the yacht clubs around Australia. The CYCSA Youth Team comprising Carter Baker, Sophie Ward, Sailor Cowen and Murphy Cowen performed well to win the youth spot for the Australian Championships in Pittwater at the Royal Prince Alfred Yacht Club.
Sailing Champions League (SCL) Finals, Germany
After finishing second in the youth division at the National Sailing League (NSL) Finals in NSW, the CYCSA Youth team earned the prestigious honour of representing both Australia and the Club on an international stage at the 2024 Champions League Finals in Germany. This event highlights the top yacht clubs from around the world and the team’s impressive 10th place finish is a remarkable achievement.
Asia Pacific Finals
Witnessing the professional efforts put in by the Open and Youth teams in Pittwater were the owners and organisers of the National Sailing League model who after several meetings agreed to offer the CYCSA the opportunity to run the 2024 first ever Asia Pacific Finals. This was a major coup for the Club and presented a unique opportunity for the CYCSA to showcase its amazing facilities and professional race management practices.
Opening Day Sail Past
More than 30 youth sailors from metropolitan clubs attended the 2023 CYCSA Opening Day Sail Past. The stiff breeze didn’t discourage an enthusiastic team who towed the Elliotts around the basin. It was great to see so many children and parents stay on at the Club for the Opening Day festivities.
Fred Neill Match Racing Championship
The Fred Neill Match Racing Regatta was held over two days April/May and celebrates the life of respected CYCSA member and yachtsman, Fred Neill. Held out the CYCSA, this event is becoming a ‘must do’ on the National Match Racing calendar with teams from Hobart, Canberra, Vanuatu and Singapore attending in recent years to add a truly international flavour. Talk about value for money… sailors get to experience approximately 50 races over the twoday event, making it also a spectator’s dream. Unlike the America’s Cup. Spectator boats are encouraged to moor near the start line and literally ‘get in the way’. An amazing effort again by the Race Committee and volunteers who pushed through 50 races over the two days.
Development and Performance Squads
From only having one squad, the Club now boasts three full squads, comprised of two development and one performance squad. The squads train in the holiday periods and are open to all youth sailors along the coast. As of writing all three squads are preparing for the 2024 Australian Match Racing Championships in Hobart in late October 2024 and have a vigorous training program laid out for them.
Hobart Cup
Another brilliantly supported regatta event in the Elliotts with this year Team Airforce coming out on top after nine close races on the water. With over 60 sailors participating in the event, the Club’s Elliotts provided close and exciting windward/leeward racing using the Teams Racing format. A massive thanks again to the Race Committee and volunteers who made this event possible.
Defence Industry Cup
This event is going from strength to strength with six full teams battling it out on the Port River in December. Teams competing included BAE Systems, ASC Pty Ltd, SA Vets, GDS Salty Sailors, GDS in Deep Ship and Aurizn. Teams competed using the asymmetrical spinnakers on a competitive and challenging windward leeward course. Once again thank you to the volunteers and Race Management team who ensured courses were true.
Outcomes Delivered
YSF Executive Summary extract from our plan:
“… We will endeavour to ensure that our sailors will be able to learn, train and race on a level playing field with boats of similar size and performance as those used across Australia. Our ambition is to send our youth teams to compete at national and international levels. Our plan is to use the boats across a range of sailing and training activities…”
Looking Ahead
The Elliott phenomenon keeps throwing up exciting opportunities for the Club and for the 2024–25 sailing year and we expect to see the Elliotts sailing more on Wednesday nights and Saturdays in their own division. We expect to host more female regattas in the Elliotts and the CYCSA has secured the 2027 Australian Youth, Open and Women’s Match Racing Championships.
The CYCSA Sailing Operations Team set out ambitiously to achieve youth representation at an international level within three years. The fact that this has been achieved within 12 months is testimony to the collective team effort across all segments of the Club. The Board’s vision and the General Manager’s leadership has enabled the Race Management, volunteer, hospitality, maintenance and administration teams to excel in their capacity to support and back the YSF initiative.
Enabling the Elliotts to be used across a range of sailing and training activities has also witnessed a growth in community and corporate Elliott based events and participation from the defence industry, returned veterans and Adelaide University sailors to name a few.
The Elliotts have also fostered interest and working synergies between the youth of the Club and senior members, an example being the generous lending of a senior member’s yacht to Youth and Open teams training for the SCL Worlds.
Proudly, an invitation to host the 2027 Australian Youth, Open and Women’s Match Racing Finals Finals at the CYCSA has been accepted. The Club looks forward again to showcasing its amazing facilities and equally amazing Race Management and volunteer support base.
A final thank you to the CYCSA Sailing Operations team whose collective efforts have been the foundation of all our accomplishments in the YSF and Sailing Ops space. Thank you Inese Lainis, David Royle, Guy Wogan-Provo and Greg Allison.
Luke Allison
Head Coach, Youth Sailing Foundation
$148,739
($39,467)
Youth Sailing Foundation
ELLIOTT EVENT PARTICIPANT NUMBERS
Association Report | Cruising
I am pleased to report that the Cruising Association has continued to grow in both member engagement and the quality of boating events. We sincerely thank everyone who has joined us over the past 12 months.
South Australian waters are truly exceptional cruising grounds. We continue to promote and inspire the opportunities our state has to offer. We are committed to helping our members improve their seamanship and sailing skills through education, encouragement and participation. With more CYCSA boats expected to be cruising in the next few years, we are excited to see this aspect of the Club expand. It will be interesting to see how many boats go further west next year!
NEW INITIATIVES 2023/24
Mega Mooring Stansbury
Unique to CYCSA, this project was recently completed. Engineered for larger vessels such as fishing boats and heavier cruisers, it provides double the capacity of the regular moorings offered by any other affiliated club.
Cruising Association Branding
We are in the process of realigning our branding with a fresh new look. We look forward to sharing more information soon.
Communication Platforms/Social Media
The CYCSA Cruising Facebook initiative continues to gain traction among members and the broader sailing community. However we recognise the importance of continually adapting our strategy to meet diverse demographic needs.
Lighting and Sound
The new BBQ area lighting and the CA portable Bose sound system have been excellent investments, enhancing the ambiance of many events.
Strategy
Events such as Solo Cruise in Company, the historic Port Adelaide Cruise, Sounds by the Sea, the Kangaroo Island Rocky Point Beach Party, Scoop Bar at Club BBQ’s and many other activities have kept the CA busy over the past year. Broadening the association’s creativity, connection with Club members and its ties with the wider cruising community will be key to its long term success.
The noticeable growth of the Cruising Association over the past one to two years is attributed to a strong committee. My sincere thanks go to the CA team for their time and enthusiasm over the past 12 months.
We would also like to extend our gratitude to our generous sponsors: Charlesworth Nuts, Heynen Planning Consultants, and the George Winegrowers Family.
We are excited about what the next 12 months will bring, with new initiatives on the horizon and more ways for members to become involved.
Association Report | Cruising
CRUISING ASSOCIATION UPCOMING EVENTS
5-7 OCTOBER 2024: Stansbury ‘Sounds by the Sea’
Promoted as a South Australian Cruise event, we have invited all affiliated South Australian clubs to join us. Our connection with the Stansbury Sports and Community Club and the local butcher will make this music festival an excellent opportunity to connect with fellow cruisers, enjoy some live entertainment and foster a cruising community atmosphere.
9 NOVEMBER 2024: Club Members BBQ
We have extended invitations to our friends at the Port Adelaide Sailing Club and the Glenelg Yacht Club to join us for what promises to be a fantastic Club BBQ event.
31 DECEMBER 2024:
Rocky Point Beach Party, Kangaroo Island
Last year’s beach party was a hit with members and friends, reaffirming that beach parties are just cool!
Kangaroo Island is a terrific cruising destination that requires careful passage planning and we look forward to hosting this event again.
The Club’s iconic Ballast Head Cup race on 1 January is always a great way to start the year.
Darren Harvey Chair
Association Report | Fishing
COMMITTEE MEMBERS
Our organising committee this year is comprised of five members. It was great to be supported by Vadis Rodato as Deputy Chairperson, Vlad Humeniuk as Treasurer, Glen Simpson as Secretary and committee member, Nathan McArdle.
I would like to thank all committee members for their contributions to our Fishing Association activities during the past year.
ACTIVITIES AND EVENTS
With the impact of Covid-19 behind us we had greater confidence planning our events and saw renewed enthusiasm, leading to improved attendance at our events. Here are some highlights from our key activities:
• Visual Display: Fishing Association activities were showcased on slides in the Club Bar and Bistro area. It was great to see the slides and videos playing on a visual loop in the bar and Bistro area throughout the year to inform people about our activities.
• New Facebook Group: A new Facebook group was established for FA members to share information and updates. We recognise the need for increased engagement and more frequent posts to keep the group vibrant and informative.
• Crabbing Day: We were pleased to welcome Andrew van Ryneveld and his business, SA Boat Trailer (Spitfire), as our new sponsor. Their generous financial support was greatly appreciated and contributed to the success of Crabbing Day.
• Fishing Charters: We organised charters around Kangaroo Island for reef and tuna fishing. Unfortunately, due to a refit of our chosen charter boat, the planned King George Whiting charter did not proceed. Tuna were also notably scarce this year.
• Fish Filleting Demonstration: In March, local professional fisherman Jeff Wait conducted a fish filleting demonstration. We now have edited video content of Jeff’s demonstration available on our Facebook group page and YouTube channel, providing valuable tips and insights.
• Seafood Spectacular: This event was a highlight of our year, combining a gourmet seafood experience with a fun sea creatures identification quiz. It also tied in with our 50th year celebrations, making it a memorable occasion.
• Cockling Day. A day for the whole family at Goolwa Beach for cockle collecting and bait restocking after the closed season. Followed by a sausage sizzle.
Overall, it has been a successful year of engaging activities and events, made possible by the dedication of our members and supporters. We look forward to continuing these efforts and building on our successes in the coming year.
Peter Schembri Chair
FISHING AWARDS
Fishing Awards were presented at the All-Associations Bash in December. The Award recipients were;
• King George Whiting: Joe La Forgia
• Snapper: Vadis Rodato
• Game Fish: Peter Schembri
• Scale Fish: Chris Herden
EVENT PLANNING FOR 2024/2025
• FA members dinner – Friday 30 August 2024
• Cockling Day – Sunday 17 November 2024
• Fishing awards and trophies to be presented at the Club’s ‘All Associations Bash’ on Saturday 14 December 2024
• Crabbing Day – Sunday 2 March 2025
• Fishing Charters – three single day events spread throughout February, March and April 2025
• Seafood Spectacular – date TBA
• Fishing Conversations to be held on Friday evenings as part of the Boating Conversation series of events and some more activity-based events on weekends.
FINANCIAL RESULTS
Total income for the 2023-2024 year was $8,640, including sponsorship with total expenses of $6,521 resulting in a surplus of $2,119.
Association Report | Racing
RACING
The summer season saw the weekend racing calendar completed with only three Inshore races abandoned. A broad range of breezes was experienced over the season. Unfortunately seven Twilight races were abandoned due to high winds. Racing membership for the year was a total of 220, of which 67 were Senior Members with racing participation and two Intermediate racing members.
Club Partnership Affiliates - Adelaide University Sailing Club and the Veterans SA group.
PEOPLE
Congratulations to the Volunteer Race Management crews of CYC 1 and CYC 2, as well as the Racing Officials, Racing Manager, CYCSA management and participants, for another successful season. Last year, we hosted a 17 race Inshore series, a five-race Offshore series, two regattas before Christmas and Elliott 7 events. I’d also like to acknowledge the Race Officers for setting excellent courses. Additionally, the use of CYC 3 and CYC 5 for the two regattas added to the enjoyment and success of our events.
This season the extensive experience of our senior Race Officers proved to be invaluable and we welcomed new faces who stepped up to fill vacancies. We are always looking for additional help on Official boats—an excellent opportunity for friends and family to join and enjoy your weekend activities. For inquiries, please contact Inese. We also offer incentives for volunteers, including reduced membership fees, with terms and conditions available upon request. No prior experience is needed and the commitment required is minimal.
Our on-water assets were provided to the Adelaide Sailing Club to assist in the running of the three stages of the ILCA Worlds at the beginning of the year.
PROTEST COMMITTEE
Thank you Lisa Bettcher and the numerous racing members for volunteering their time to facilitate the six protests lodged this season. We also received assistance from Protest Chairs Andrew Waterman and Tim Wendt.
The Racing Association Executive committee comprised Wayne Grant, Andrew Lloyd, Curtis Mitchell, Di Schwerdt, Guy Wogan-Provo and myself. RO Greg Borg and RO David Hughes as Ex-officios contributing at REX meetings. Marine Academy Principal, David Royle and SOM Greg Allison have taken a regular position at meetings to improve communication with the ever increasing events this Club is showcasing. Well done for working through the large agenda each month that keeps the on-water events going.
The CYCSA changed over to SailSys to run our racing events including handicapping. SailSys draws on a large national data base of handicaps hence has reduced the duties of the Handicapper. Moving to SailSys from the previous software has produced a saving on IT costs.
The Yacht Safe Auditing Program seems to be well established and working well thanks to the Safety Auditing team and Racing Manager. More auditors are required. If anyone is interested – there is an online course available.
SPONSORS
We are grateful for the ongoing support from our primary sponsors, Yalumba, Bravo Sails and MyEasyBnB. Thanks to George Family Winegrowers for their sponsorship of the Premier’s Cup Regatta and generously providing prizes for podium/winners and supporting the running the event financially.
RACING PROGRAM AND DOCUMENTS
Notice of Race and Sailing Instructions are an ongoing work evolving as circumstances demand so please have a read, these documents have been revised.
A new Racing program has been finalised. Again this coming season an expanded Commodore’s Shield derived from Combined Inshore series results. Inshore 16 races – windward/leeward, triangle, fixed mark, two long fixed mark with a time limit of 1900.
The Short Offshore Series was contested by six entries. This coming summer it will be a five race series including the Adelaide to Port Lincoln race again. The Snapper Point race will be included.
The Women’s Series was conjointly promoted and run by the CYCSA and RSAYS once again.
A Small Boat Series has been programmed this summer season with the CYCSA holding one of the weekend events.
Twilight racing was very well attended with good fleets and strong après race gatherings. One of the two combined twilight races was sailed, unfortunately without a post race gathering. There are four planned for this coming season.
The SA Women’s Keelboat Regatta 2023 was a success. It grew from 21 to 35 boats and 117 to 166 female crew. There were many helping hands to run the event. Thanks to Kerry Parker who has now stepped down as Chair of SAWKR. Preparations are well in hand by the SAWKR committee with new Chair Jacq Heffernan for the next staging in October 2024.
The CYCSA was represented by Clockwork in the 2023 Rolex Sydney to Hobart yacht race.
The Elliott 7s were well utilised for the SAWKR, Defence Industry Cup, Young President’s Cup, Hobart Cup, SA Sailing League and the Fred Neill Match Racing Trophy. They were also trialled during Twilight races pre-Christmas.
Please remember that Safety Audits need to be renewed before the season begins. Schedule your appointment through the app or website. We are also looking for additional auditors.
Rating certificates also need to be renewed before the season commences otherwise you will be scored DNC. We are tied by SIs and Racing rules that a rating can only be used from the date on the certificate. The annual group fire extinguisher inspection will be announced and is scheduled for the first week of October.
In closing I would like to express my respect and thanks to the many integral contributors that makes this association work and puts us on the water.
Rob Human Chair
$101,287
($3,978)
Association Report | Social
The Social Association’s program 2023/2024 had a whirlwind year, packed with events and activities that kept the SAC Committee on their toes. We helped out with various Club events and decorating the BBQ area for the Children’s Christmas Party and the All Association’s Christmas Bash.
Despite the hectic schedule, the dedicated committee, supported by a few enthusiastic helpers, rose to the challenge. They tackled each task with energy and passion, ensuring that every event was not just successful but memorable. Their efforts truly shone throughout the 20232024 season, delivering an impressive line-up of events that left a lasting impact on all who attended. It was a year filled with hard work, but the results were nothing short of rewarding to members and friends.
Italian Night held in July 2023 with just under 200 guest was a fabulous evening filled with lively entertainment that kept everyone on the dance floor. An outstanding performance by Henry Olonga was the highlight of the night, earning a well-deserved standing ovation after his rendition of Nessun Dorma. Funds raised at this event was $1,145. Thank you to all who donated and sponsored. The SAC are grateful to Nick George, George Family Wines for sponsoring the SAC during this event. All funds raised are used toward the Children’s events. As expected, the delicious food prepared by Chef Camillo was plentiful, adding to the joyous atmosphere of an Italian evening. It was truly a fun night enjoyed by all who attended.
The Children’s Christmas Party was a magical event where the little ones had an incredible time, eagerly awaiting Santa’s arrival. Thank you, Geoff Catt. The joy on 48 faces as they received their Christmas presents was heartwarming. Making the day even more special the children feasted on delicious Christmas treats and icecream. It was a delightful celebration filled with laughter, joy and holiday cheer.
It certainly was Christmas time, the All-Associations Christmas Bash brought together the four Club associations for a joyous celebration of the year’s achievements. It was a heartwarming event where members shared good cheer, reflecting on their successes as the festive season approached. Friends and colleagues came together in the spirit of Christmas, enjoying each other’s company and the lively atmosphere. The night was filled with laughter, camaraderie, and a shared sense of accomplishment, setting the perfect tone for Christmas and the New Year. Cheers to 2024.
In the lead up to the Children’s Easter Egg Hunt, the Club donated goods for an Easter hamper. Ticket sales were great and certainly helped with the funds needed for the children’s events. The Egg Hunt was a delightful occasion, with 36 kids eagerly searching for hidden treasures in the Autumn sunshine. Their excitement grew with each colourful egg they discovered, enjoying the craft table but most of all the joy of playing with the baby animals from Darcy’s Animal Rescue Farm. The day was a chocolate lover’s dream, as the children indulged in plenty of Easter treats. It was a joyful celebration leaving everyone with big smiles and loads of easter eggs.
Well, that’s a wrap from the SAC, however, I would like to thank the SAC Committee for their dedication and support over the last 12 months. Thank you also to our partners who are often found lending a hand during our events. There are so many to thank, Management, Administration team, Hospitality Staff and Chef Camillo and his team.
The SAC team is growing and just in time for another busy program scheduled for 2024/2025 with the addition of two more social functions to their agenda.
All in all, an energetic team who have agreed to sign on for another year
Committee: Rosemary Gould (Treasurer), Jacqueline Heffernan, Cheryl Marshall, Anne-Marie Meegan, Jenny Murton, Clay Tenni and Adrian Wilson.
Our heartfelt thanks to Anne-Marie Wallage, who has decided to take a break from the committee but is on hand to help out.
Giorgi Gauci, Chair
Groundswell Editorial Committee Report
Groundswell is an important communication and promotion vehicle for the Club as it attempts to reflect life at the Club by involving all interest groups and individuals through the publishing of articles about their activities and interests. The committee works together to gather articles for each of the four editions published annually in both printed and online form with the aim of encompassing a wide range of events and activities.
Putting each magazine together takes time for our small group of volunteers on the committee and we really appreciate the input from members and in particular from the Flag Officers and Associations. Without the interest and response from our members there would not be a Club publication of this type.
Advertising is an important component of Groundswell in order to make it cost neutral to members. We appreciate and would like to thank our long supporting advertisers who enable us to go to print. New advertisers are always welcome so for information about pricing please contact mellissa@cycsa.com.au for details.
Inese Lainis from the Racing Association and David Royle, the Marine Academy Principal, have been wonderful contributors to the magazine by keeping us up to date with racing results and news and commenting on the various courses offered by the Marine Academy both of which add to the vibrancy of the Club. Greg and Luke Allison have also provided valuable insights into the Youth Sailing Foundation, and the Adelaide University Club’s input has enriched our coverage. The Social, Cruising and Fishing Association chairs also contribute with articles about what has happened and future events in their respective areas.
Alan Noble continues to provide us with informative articles about all manner of things and his interest and willingness to allow us to include them in Groundswell is much appreciated.
Members of the Groundswell Editorial Committee are myself, Dianne Schwerdt, Pat Catley and Mellissa Vahoumis and we encourage you to approach any of us if you have suggestions about the content and format of the magazine. Mellissa is the
Club’s Marketing and Communications Officer and without her assistance and imagination Groundswell would not be the quality production it is. She is a great asset to the Club and I thank her very sincerely for her input. Pat continues to provide us with great articles on boats at the Club whether they be a new boat into the basin or a new boat to the owners and Dianne produces great sailing articles including the annual Adelaide to Lincoln race and the South Australian Women’s Keelboat Regatta.
Because I have been at the Club the longest and therefore know most of the older members at the Club I write most of the obituaries and Club member profiles plus whatever else needs to be done. The three of us proof the copy and hopefully between all of us eliminate most of the typographical errors but I apologise if we miss some as we are non-professionals in the field and all volunteers.
For Groundswell to maintain the high quality we have achieved, input and feedback from all areas of the Club is needed. If you have been on a race, cruise or a fishing trip or completed a Marine Academy course that you found interesting, it is likely other members will be interested also so please, put your thoughts into words and forward it to Mellissa for possible inclusion in the magazine.
If you are not confident about your writing skills but have a great story to relate, just get hold of one of the committee members as we can help out. Poetry, prose and particularly graphics are always welcome and our Editorial Committee will proof your articles and make editing changes and correct grammar and format where required.
Thank you for your support over the year and I trust you continue to enjoy contributing to and reading Groundswell.
Gay Footer Chair, Groundswell Committee
Club Structure
The following diagrammatical representation of the Club’s structure is provided to clarify the relationship between the associated entities and the function each entity undertakes in the total Club structure.
CYCSA Incorporated (referred to as ‘the Club’)
• Senior Members elect a seven member Board of Management annually.
• The Board of Management (‘the Board’)
- is responsible for the management of the Club with delegation of appropriate responsibilities to the General Manager.
- act as Directors of CYC (SA) Management Pty Ltd, the trustee of the CYC (SA) Unit Trust.
- act as Directors of CYC Ramp Pty Ltd, the trustee of the CYC Ramp Trust.
• The Club owns the floating assets in Marina West.
CYC (SA) Unit Trust
• The major assets of this trust are the freehold of the Club Eastern Basin at North Haven, including land, water and buildings, the sub-lease of the Port Vincent Marina and a lease of the land and water of Marina West which is sublet to the Club by the CYC Ramp Trust.
• All Senior Members hold units in this trust and therefore have a beneficial interest in the above assets.
• As an asset holding entity, the trust’s affairs do not generate profits that can be distributed to unit holders.
CYC Ramp Trust
• This is the trust established in the early 1990s to facilitate the purchase of property including the southern area of the carpark, the land to the south and the Western Basin.
• The major assets of the trust are the Western Basin including Marina West and the water area adjoining the northern peninsula.
• The trust also operates the public boat ramp.
• The trust leases Marina West land/water to the CYC (SA) Unit Trust.
• The trust, being a discretionary trust, does not have owners, but the beneficiaries of the trust are the Club and the CYC (SA) Unit Trust. The trust has made distributions to the Club in the past.
BOARD OF MANAGEMENT Directors elected annually by Senior Members
CYC Ramp Pty Ltd
As trustee for
CYC Ramp Trust
Owns Marina West, adjacent land and water, including channel
CYC (SA) Management Pty Ltd
CYC (SA) Unit Trust
Owns land and water, buildings, Marina East
• Underlease of Port Vincent Marina from the Yorke Peninsula Council
• Lease of Marina West
Profits Profits
Beneficiaries
CYC (SA) Unit Trust
CYCSA Inc
CYCSA Incorporated
• Operates bar and slip
• Staff
• Rents buildings and Marina East from CYC (SA) Unit Trust
• Underlease of Marina West and Port Vincent from CYC (SA) Unit Trust
Beneficiaries Senior Members Members
CYCSA Inc and Controlled Entities Financial Report
For the year ended 31 May 2024
Statement by the Board of Management
In the opinion of the Board of Management, the Financial Report as set out on the following pages:
1. Presents fairly the financial position of The Cruising Yacht Club of SA Incorporated & its Controlled Entities (the “consolidated group”) as at 31 May 2024 and its performance for the year ended on that date in accordance with the 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 consolidated group will be able to pay its debts as and when they fall due.
3. In accordance with Section 35(5) of the Associations Incorporation Act 1985, the Board of the consolidated group hereby states that during the year ended 31 May 2024:
• Other than disclosed in Note 22 in the financial statements, no officer of the consolidated group has, since the end of the previous financial year, received, or become entitled to receive a benefit (other than a benefit included in the aggregate amount of emoluments received or due and receivable by the officers of the consolidated group shown in the financial report) as a result of a contract between the officer or a firm of which they are a member or an entity in which has a substantial financial interest in the consolidated group;
• No officer of the consolidated group has, since the end of the previous financial year, received directly or indirectly from the consolidated group, any payment or other benefit of a pecuniary value (other than a benefit included in the aggregate amount of emoluments received or due and receivable by the officers of consolidated group shown in the financial report).
This statement is made in accordance with a resolution of the Board of Management and is signed for and on behalf of the Board of Management by:
President
Dated this 1st day of August 2024
CYCSA Inc and Controlled Entities Financial Report
Statement of Comprehensive Income for the year ended 31 May 2024
The accompanying notes form part of these financial statements and can be accessed on the Club’s website.
Notes to the Financial Statements
The Club’s full financial reports and notes to the financial statements are available for viewing and download online on the Club’s website at: https://cycsa.com.au/club-financial-reports/ Printed copies are available upon request from Club Reception.
The accompanying notes form part of these financial statements and can be accessed on the Club’s website.
Statement of Changes In Equity for the year ended 31 May 2024
Consolidated Group
Balance at 1 June 2022
Contributed (Reduction) in Capital Operating Result for the Year
Transfer Between Reserves
Balance at 31 May 2023
Balance at 1 June 2023
Contributed (Reduction) in Capital Operating Result for the Year
Transfer to Reserves
Transfer from Reserves
Balance at 31 May 2024
13,050 101,665 101,66517,136 (15,557) 103,244 19,155,748 (23,650) 126,10719,258,205 19,258,205 550 801,45020,060,205
The accompanying notes form part of these financial statements and can be accessed on the Club’s website.
Statement of Cash Flows for the year ended 31 May 2024
CASH FLOWS FROM
CASH FLOWS FROM
The accompanying notes form part of these financial statements and can be accessed on the Club’s website at: https://cycsa.com.au/club-financial-reports/
