CRUISING YACHT CLUB OF SOUTH AUSTRALIA
2011 – 2012
Cruising Yacht Club of South Australia Inc. Lady Gowrie Drive North Haven South Australia PO Box 1020 North Haven SA 5018 Telephone:
08 8248 4222
Facsimile:
08 8248 5888
Email:
reception@cycsa.com.au
Web:
www.cycsa.com.au
annual
r e p ort
Club Sponsors
Front cover photo courtesy of Greg Pratt
The CYCSA thanks its major sponsors for their support during 2011/2012: Racing Fishing Cruising Phil Hoffmann Travel Custom Cartons Charlesworth Nuts Port River Marine Cummins Yalumba R Marine South Australia Penfolds Maritimo Adelaide MUSTO Canegrass Saltbush Lamb Sportsmed.SA EverettBrookes Custom Jewellery Vislex The Stag Hotel Doyle Sailmakers
Text pages photos from Club members’ contributions, including professional photographers Greg Pratt, Brenton Pegler, Glenn Hawke, Gerry Colella and Sarah Lawrie.
Club Corpor8 It Solutions
Membership as at 31.05.2012
Life 5 Honorary 11 Foundation 24 Senior 517 Pt Vincent Senior 46 Member 159 Racing 255 Associate/Family 66 Intermediate 5 Junior 41 Total 1134
Back cover photo courtesy of Jacq Heffernen Inside front and back cover photo courtesy of Craig Evans
Graphic design by Trevor Paynter Printed by Reflex Printing Cover image: Bullistic (Tony Hansen, Paul Martin and Richard Royans)
Contents Cruising Yacht Club of South Australia
Administration
2
Board Committees
2
Club Committees
2
Club Association Committees
2
Life Members
2
Board of Management
3
Flag Officers
3
President’s Report
4
Treasurer’s Report
6
Commodore’s Report
7
Audit Committee Report
8
Facilities Committee Report
9
CYCSA Marine Academy Committee Report
10
Membership Services, Sponsorship and Recruitment Committee Report
11
Groundswell Editorial Committee Report
14
Cruising Association Report
15
Fishing Association Report
16
Social Activities Association Report
18
Racing Association Report
19
Club Structure
21
CYCSA Inc and Controlled Entities Financial Report
22
CYCSA Vessel Register
41
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Cruising Yacht Club of South Australia Annual Report for 2011/2012
Administration Executive Officer Finance Manager Administration Manager Comms and Membership Services Administration and Leasing Receptionist Racing Manager Slip Master Property Manager Maintenance Cleaner Head Chef Head Chef Food and Beverage Manager Functions Coordinator Pt Vincent Manager Marine Academy Coordinator
Committees
Craig Evans BOARD COMMITTEES Marina Segodina Audit Committee Jenny Krogdahl Chair Chris Wood (Board Member) Laura Cowley David Hughes (Treasurer), Don Venn (Senior Member) Kylie Bottrill Mellissa Gray CYCSA Marine Academy Jess Hargreaves Chair Andrew Saies (Board Member) Tim Went (until Dec.2011) John Gerard (Senior Member), Geoff Catt (Commodore), Robert Gray Rod Hunter (Senior Member), Chris Morphett (Senior Daniel Preece Member), Rowland Richardson (Rear Commodore), Malcolm Murray Craig Evans (Executive Officer), Matt Young (MA Course Peter Batrachenko (until Dec.2011) Coordinator), Brett Yardley (Senior Member), Peter Hendy Aaron Hill (from Dec.2011) (Racing Member) Mario Cataldi Facilities Committee Michelle Matte Chair David Murray (Board Member) Rob Marner Graham Meyers, (Senior Member), Geoff Boettcher (Senior Matt Young Member), Joe Walker (Senior Member), John Gerard (Senior Member), Craig Evans (Executive Officer)
Club Associations
History Project Committee
Chair Keith Degenhardt Martyn Heffernan, Robert Perrin, Terry Denham, Gerard Hughes
Chair John Gerard (Senior Member) Tom Tymons (Board Member), Trevor Paynter (Member), Laura Cowley (Comms & Membership Services), Craig Evans (Executive Officer)
Fishing Association Committee
Membership Committee
Cruising Association Committee
Chair Glenn Spear Peter Newmarch, Geoff Wiggins, Malcolm Kitto, Ray Baddeley, Bruce Tasker, John Colella, Graham Meyers, Leica Theodore
Racing Association Committee
Member Services, Sponsorship and Recruitment Committee
Chair Traci Ayris William Strangways, Brenton Pegler, Roger Nicolson, John Gibson, Mark Hutton
Social Activities Association Committee Chair Jacq Heffernan Sandra Richards, Pam Humeniuk, Morag Draper, Karen Johns, Anne Burrows Jnr, Don Guy
Chair
Other Associations The Cruising Yacht Club of SA is a member of the following Associations: Boating Industry Association of SA, Marina Industries Association, Clubs SA, Business SA, International Training and Management P/L, Yachting Australia, Yachting South Australia, Game Fishing Association of Australia, Australian Bridal Industry Academy, Good Sports
Life Members Arthur F Carolan Richard H Fidock AO Graeme L Footer James A Henry (deceased) Malcolm A Kinnaird AC Peter J Page Cruising Yacht Club of South Australia Annual Report for 2011/2012
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Bryan Mellors (Senior Member), Barbara Page (Senior Member), Peter Page (Senior Member), Martyn Heffernan (Senior Member), Jacqueline Heffernan (Senior Member), Trevor Kipling (Senior Member)
Wayne Coonan (Board Member) Geoff Catt (Commodore), Craig Evans (Executive Officer), Laura Cowley (Communications & Membership Services), Glenn Spear (Fishing Association Chair), Traci Ayris (Racing Association Chair), Jacq Heffernan (Social Activities Association Chair), Keith Degenhardt (Cruising Association Chair), Rowland Richardson (Rear Commodore), Matt Young (Marine Academy Coordinator), Trevor Paynter (Marketing & Promotions Subcommittee), Richard Watson (Marketing & Promotions Subcommittee), Mike O’Reilly (Marketing & Promotions Subcommittee)
CLUB COMMITTEE Groundswell Editorial Committee
Craig Evans (Executive Officer), Gay Footer (Senior Member), Robert Perrin (Senior Member), Owen Mace (Senior Member), Laura Cowley (Communications and Membership Services), Jenny Krogdahl (Administration Manager)
Board of Management
Andrew Saies President
David Hughes Treasurer
Wayne Coonan
Andrew Corletto (retired December 2011)
David Murray
Tom Tymons
Chris Wood (appointed April 2012)
Henry Petersen
Executive Officer
Craig Evans
Flag Officers
Geoff Catt Commodore
Rob Sellick Vice Commodore
Rowland Richardson Rear Commodore 3
Cruising Yacht Club of South Australia Annual Report for 2011/2012
President’s Report Last year I provided a fairly detailed review of the Club’s position in relation to the post GFC economic environment. As most members would understand, little has changed in the general South Australian economy; in fact it continues to remain static or is even contracting and this situation is also reflected in the business and activities of the CYCSA this year.
Finances and Membership Net memberships have remained largely unchanged from those reported at the AGM last year. The Club’s net assets remain very strong. Total revenues across the Club and controlled entities has shown an upward trend on 2011. Understandably and correspondingly, capital expenditure and other infrastructure projects have all been put on hold to achieve this result. Nonetheless, Craig Evans and his management team have done very well to achieve this outcome while maintaining access to services and activities in keeping with previous years. If however there is a decline in income, or an imperative for expenditure, then this will need review. The Board must and will continue to monitor the Club finances very carefully and is constantly looking to reduce expenses in ways which will have minimal impact on access, services and activities for members. Membership fee increases this year were capped at just under 5%, however a number of Club expenses increased by percentages well in excess of that number. The Board and management continue to carefully consider the impact of fee increases on members against the need to maintain and run the Club in a manner that members would expect.
Marina West No new sales have occurred in Marina West since my last report. I again stress to members that income from sales is in excess of the construction cost of the marina and this money is in the bank, however the net surplus that was expected to be achieved by sale of two thirds or more of these marina berths has not occurred. Members will be aware that this surplus was targeted for a staged replacement of Marina East. The issue of vessel motion and comfort in relation to wave motion for the outer berths in Marina West continues to occupy considerable Board and management time. I stated last year that the Board intends to extend the inner breakwater. The timeline of the various approvals required from Government and Council has been complex to say the least and in fact final construction
Cruising Yacht Club of South Australia Annual Report for 2011/2012
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application approval from Port Adelaide and Enfield Council was only obtained in February of this year. The project cannot commence until a dredge becomes available in the North Haven basin and this is dependant on Government making available the dredge to do this work. The Government is also in breach of its dredging obligations to maintain a safe navigable depth within the entrance and fairways of North Haven Marina. Again, Board and management have gone to considerable lengths to obtain commitments from the relevant department and in fact have more recently asked assistance from the new local member for State Government, Susan Close. The delays in commencing construction of the inner breakwater are not of the Club’s making. While progressing the application, approval and tender process for this project the Board and management submitted a grant to the South Australian Boating Facilities Advisory Committee (SABFAC) for financial assistance to construct the extension to the Marina West breakwater. Craig Evans wrote an excellent application and spent many months and many hours meeting, lobbying, justifying and rebutting a significant amount of anti-CYCSA sentiment coming out of this particular government accountable committee. Despite this tremendous effort and despite the fact that large boat owners to date have received no investment in their boating infrastructure or services from this fund, the SABFAC committee denied our application for funding assistance. In the explanatory letter from the Chairman of that committee there are factual errors that are completely at odds with the submission put forward by the CYCSA and with the extensive presentation made by Craig Evans at the application hearing. This decision and our extreme unhappiness with the SABFAC decision, along with the inaccurate justification for the decision, currently at the time of writing, sits with the Minister for Transport. I am also able to report that the Board has sought further advice on all aspects of the design/construction brief and the contracts underpinning the Marina West project. Notwithstanding this, an extension to the inner breakwater is an absolute priority for the Club and the Board.
Marina East I am pleased to report that the speed of deterioration of Marina East has slowed in some areas and in many areas is no greater than has been seen in the preceding twelve months to two years.
Walkway and finger heights are being carefully monitored along with changes in inclination of these areas. Any significant areas of degradation will be repaired or replaced as and when this occurs. An allocation in the budget is made for this each year and this amount is correspondingly increasing each year.
Board Activity Andrew Corletto stood down as a Board member in December last year and the Board appointed Chris Wood to the casual vacancy created. I would like to thank Andrew for his substantial contribution to the activities of the Board over the last five years or so. His legal expertise was utilised on many occasions, bringing about resolution of matters that would have otherwise required outsourcing of legal advice at some considerable expense to the Club. We live in an increasingly regulated world where rights and responsibilities are spelt out in the minutest detail and where parties in dispute seem to have no hesitation in pursuing those perceived rights through our legal system. The number of letters from lawyers representing parties or members in dispute with the Club increases every year. Andrew, on behalf of the Board and all members, I thank you for your substantial contribution and a second term of office at an appropriate time in the future is not out of the question! Chris Wood brings considerable expertise as a Director and Manager of private companies and businesses, is a long time Club member and a very active cruising sailor. Chris has also been made Chairman of the Board Audit subcommittee.
Council Rates Much of the last six months has been spent developing and implementing a strategy to counter the Port Adelaide Enfield Council proposal to effectively quadruple rates raised from marina and hardstand berths in the precinct over the next five years. The detail and nuances of the particular proposal and of the Local Government Act covering rates and Council’s rights to raise rates is complex and beyond the scope of this annual report. However if the City Manager’s proposal in its original form was to have been passed by Council, the financial impact on berth owners, with a flow on effect to the Club, would have been significant and severe. The manner in which the City Manager and the Mayor have pushed this rate change has been acrimonious and divisive. Our two local Ward Councillors, Bruce Johansen and Peter Jamieson, have been very supportive of the Club position. Our Club has shown considerable leadership on behalf of all berth stakeholders in the Council area in fighting the proposed rate increase. The Club has undertaken an extensive and well thought through campaign to persuade the Council against approving such a rate increase and has put forward an alternative proposal. I can assure members that no stone has been left unturned in our efforts to combat this unfair and unreasonable rate increase. At the time of writing this issue remains unresolved.
Associations and Volunteers I like to thank and recognise the Board members, committee members and all the Chairs of the Associations and interest groups within the Club. You give your time and expertise to enhance the value for all members of being a member of this Club. Without your commitment, the success of the Club and the governance and activities provided for members would be significantly diminished. I would also like to thank those members who sit on other committees such as the Marine Academy, the Audit Committee and all those who help with special events and social events throughout the year. Be warned you may be being groomed for a more formal role! I would like to thank and acknowledge all those businesses who sponsor the various activities or events throughout the year. Sponsorship is a key part of the ongoing success and viability of our activities and in particular it is great to see an increasing number of our own members who support the Club in this way. I would like to thank our Flag Officers. Rob Sellick who completes his term as Vice Commodore, has been a level headed, measured and effective Flag who just gets on and gets the job done when required, not unlike his great sailing ability out on the water. Rowley Richardson as Rear Commodore has stepped up his contribution to Club life, bringing expertise and guidance to the Marine Academy in particular and I thank him on behalf of the Board and Members. Finally, Geoff Catt as Commodore and past President dedicates an enormous amount of time to the Club and is interested and involved with so many areas. He has been a great support to the Board and I have personally valued his guidance and insight. Finally I would like to thank our Groundswell team, Gay Footer and Trevor Paynter. The magazine is of ongoing excellent high quality and of great interest to members. In an age where everything is available in a digital format, I think many of us appreciate receiving a real magazine.
Club Administration I would like to acknowledge and thank Craig Evans for his outstanding efforts again over the last year. Craig works tirelessly for this Club. He is here on all weekends throughout the year and most of the remainder of the working week. He deals with everything from applications for major government grants to sorting out disputes between members or between members and the Club. He does this with pragmatic diplomacy, obtaining an outcome that satisfies the vast majority of members on most occasions and in keeping with Board and Club values. Craig leads a dedicated team who also have the interests of the Club and members at heart and do their very best within their areas of employment and within the budget given to them by the Board. I wish to thank Craig and all staff for their efforts in making our Club an enjoyable place to visit while pursuing our boating, racing and social interests in the 2011/12 Club year.
Andrew Saies, President 5
Cruising Yacht Club of South Australia Annual Report for 2011/2012
Treasurer’s Report I took over this role from Henry Petersen on October last year and I would like to thank Henry for the enormous effort he has put in managing the treasurer’s role for the past 5 years.
The Year in Review This has been another year of difficult economic conditions, rising costs and continuing levels of uncertainty. We have seen the collapse of a number of high profile organisations and most businesses across the state have been challenged to be very diligent in managing costs and cash flow. This is even more prevalent in organisations that rely on “discretionary spending” such as ours. I believe we have weathered this environment very well and continued to provide an excellent Club environment which is well placed to face the future challenges. The Club has again been well supported by the Associations who provide a continuing source of volunteer labour and contribute valuable income generated from various member activities, for which, on behalf of the Board, I thank you. In addition to the income from Associations, it is important to note that the Club has a variety of sources of income including corporate and membership fees, license fees, hospitality and other services. All of these income sources go to fund all Club facilities, infrastructure and services for the benefit of all members, so we all need to support the Club and enjoy all of the facilities on offer. The Board always appreciates any suggestions for improvement across any aspect of Club activities. In summary, I believe we have seen a very successful year with the addition of a number of new boats and members, successful on-water activities as well as very enjoyable social occasions. As members, we should all thank the tireless effort of the staff who ensure our Club is at its best for our enjoyment.
Revenue Total revenue has increased by $173,000 (up 5.6%), following a decrease in the previous year. Our revenues have increased in all areas, with the exception of “Commission on Berth Sales” (down by $126,000) and “Hospitality” (down by $10,000). Our main source of revenue is still membership and corporate fees and it is pleasing to report that our membership and berth owner numbers have remained relatively stable across the year. This is a very positive result given that a number of similar clubs here and interstate have reported significant reductions in membership. As a Board, we take our decisions on fee increases very seriously and would prefer not to have to increase fees. Unfortunately this is not possible and we continue to monitor prices across the sector to ensure we remain competitive and affordable.
Expenditure Total Expenses increased by $37,000 (up 1.5%) across the year against a general CPI increase of 2.9%. It is a credit to Craig and his team that expenses have been held at low levels across the year against an environment of increasing demands and general cost increases.
Cash Flow Given a 5.6% increase in revenue and maintaining expenses to a 1.5% increase, we have been able to deliver a cash surplus for the year of $148,000. In addition to the control on general expenses, we have limited capital expenditure to a modest $37,000, allowing only essential capital to be spent. At year-end, we are sitting on cash reserves of $867,000, a very strong position to enable us to address major capital works in the coming years. We have had very limited sales of new berths in Marina West in the current year and anticipate low levels of sales over the next few years until economic conditions improve. As planning for the extension to the breakwater in Marina West continues, we need to maintain a prudent approach to cash.
Balance Sheet Our Club now has total assets of $19,029,000, a reduction of $420,000. This reduction is due to non-cash depreciation charges on assets of $600,000, less the cash surplus generated for the year. Total Liabilities of $6,139,000 (last year $6,389,000) includes an inter-Club loan of $5,490,000 (last year $5,642,000). At the date of this report, there are no external bank borrowings.
Financial Reports As members know, the Club has a complicated entity structure. We have two Unit 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 devised some years back and provides members with substantial benefits around protection of assets, tax benefits and maximum flexibility for future directions. The financial reports presented in this report represent the consolidated position of the Club and (hopefully) avoids confusion in the understanding of the Club’s financial performance and position. The individual entity reports are available on our web site should any member wish to review them. All entities, as well as the consolidated view, have been reviewed and confirmed by our auditors, with unqualified audit reports being issued and included in this report.
Year Ahead I believe we will continue to see difficult and uncertain economic times in the year ahead. In addition, we will see substantial increases in utility costs, insurance and from the consequences of the final outcome regarding Port Adelaide Enfield Council rates on marina and hardstand berths. The Board has reviewed all of these impacts and set a tight budget to ensure the Club continues to maintain a prudent and conservative financial position. We are likely to undertake a substantial investment in the inner breakwater for Marina West at some stage across the year, which will require some debt funding as well as consuming some of the existing cash reserves. The Board is maintaining a very prudent approach to any other discretionary and capital expenditure to ensure we maintain a strong balance sheet for the future. We will balance the need to maintain existing assets in a professional condition with the need to ensure financial strength. We trust members understand this balance. In summary, I believe we have a Club to be proud of, a year ahead to look forward to and boating and social activities to enjoy. The Club prospers and grows on the support of all members. David Hughes, Treasurer
Cruising Yacht Club of South Australia Annual Report for 2011/2012
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Commodore’s Report This past year has once again proven to be a busy but challenging one for our Club. The state of the general economy always has an impact on the activities of a club such as ours because if members are feeling nervous or apprehensive financially then discretionary spending on sporting and social areas tends to tighten. Nevertheless, we’ve continued to move forward in many areas whilst adopting a more prudent approach in others. Indeed, as I mentioned two years ago, through times like these the robust nature of the Club’s history, structure and finances has served us well once again. As Commodore I am able to attend each Board meeting as your representative and I can assure you that you can be confident of the care, attention to detail and diligence that the members of the Board apply to the governance of the Club, its assets and finances. We are well served by the present Board and I thank them on your behalf. As usual, the 2011 season kicked off in fine style with Opening Day being celebrated in fine but windy weather and a few whitecaps out to sea. Consequently, the sail past was a little different this year as we decided to try it within the confines of North Haven. Vessels proceeded to the far northern basin before forming a line back past the saluting vessel moored on the end of Marina West. Although this was a break with tradition it was well received by the majority of skippers as it enabled many more guests to participate without venturing to sea. In addition, the turnout of North Haven residents on their balconies to view the sail past added to the occasion. Continuing the previous year’s theme of honouring our life members, Past President and Past Commodore Peter Page took the salute and officially opened the season. We also announced and congratulated our Volunteer of the Year, Traci Ayris for her outstanding commitment as Chair of the Racing Association. A special thanks was extended to those members from all associations who gave time to help run the second “Unforgettable Challenge”, where teams competed in a series of events to win a magnificent Unforgettable Houseboats prize, kindly donated once again by Mark and Lee-Anne Flanagan.
The summer racing season concluded with Presentation Night which was as enjoyable as ever, reflecting the terrific effort put in throughout the year by the Racing Executive, by our Racing Manager Jess Hargreaves and of course by all the volunteers who have helped to stage the various race programs – well done everyone. Congratulations to Les De Wit on winning Crew Person of the Year, to Andrew Saies and Two True as Yacht of the Year, to all winning skippers and their crews and a special acknowledgement for our Sydney to Hobart participants – first timer Patrice IV (Shane Wiseman) and Two True (Andrew Saies) – both boats performed well and returned safely to the CYCSA. On behalf of the Club I also took pleasure in accepting the Commodore’s Shield from a gracious RSAYS Commodore Peter Kelly in recognition of our team’s success this season. Yacht racing will always be vital to the success of our Club, but there were many other notable events that occurred during the year as well. A reinvigorated Fishing Association staged the traditional successful and enjoyable Crabbing Day, an impressive Boating Showcase and an equally entertaining Seafood Extravaganza Dinner, whilst cruisers from the CYCSA have travelled to Tasmania, the East Coast and the Far West Coast as well as throughout the local waters. Also, closer to home, the Social Activities Committee continued to arrange and successfully run their usual full calendar of major events like the Christmas Party, the Boat Hop and the Commodore’s Dinner, as well as a myriad of other functions which this year included a most enjoyable Progressive Dinner on boats in Marina West. All of these events are an important part of our Club’s fabric. They represent the unique cross section of membership and would not happen without active Associations and dedicated volunteers. And so I would like to thank on your behalf all who have helped in any capacity in running the Club’s events this past year – it is much appreciated. I would also like to take this opportunity to thank our Executive Officer Craig Evans and all staff for their great work in providing us with the amenities of which we and our guests can enjoy and
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Cruising Yacht Club of South Australia Annual Report for 2011/2012
Commodore’s Report (continued) be proud. From personal experience I can attest to the many, many hours of additional work and effort that they have put in – thank you Craig and your team. I announced last year that we had instigated a reciprocal membership program with other yacht clubs around the world for the benefit of members travelling to those locations. We now have fifteen such arrangements in Australia, the United States, the United Kingdom, New Zealand, Hong Kong, Brunei, Malaysia, Thailand and Singapore. Contact details continue to be posted under special links on the website. I trust that CYCSA members visiting these reciprocal clubs will be made welcome and enjoy the facilities on offer. Senior Members are also reminded that we have a continuing reciprocal agreement with the Naval Military and Air Force Club in Adelaide whereby senior members are able to join for a very reasonable annual fee and enjoy the amenity of such a prestigious club in the city. I would also like to most sincerely thank Vice Commodore Rob Sellick and Rear Commodore Rowley Richardson and their wives for their total support and enthusiasm during this past year – they have served you all well.
As you know, Rob is standing down tonight after five years as a Flag Officer. Amongst his other duties he has worked particularly closely with the Board and the Racing Executive to ensure that a vibrant racing fleet continues to be a feature of the CYCSA. Thank you for everything Rob and enjoy your semi-retirement! On a sadder note I wish to acknowledge the recent passing of past member Graham Measday. He was a very active member and dedicated considerable time to the corporate governance of the CYCSA. He was a Board Member in 1985, President of the Board from 1989 to 1993, Rear Commodore in 1986, Vice Commodore from 1987 to 1989 and was our third Commodore from 1993 to1998. Graeme and his wife Judy were responsible for reviving the Social Activities Committee and introduced a number of events and initiatives such as the ‘Welcome to Members’ cocktail night. Thank you again for the opportunity to be the Club’s Commodore – it’s an honour and a privilege. Geoff Catt, Commodore
Audit Committee Report The Audit Committee’s Terms of Reference are to continue to provide assurance to the Board of Directors that the Club is meeting its financial responsibilities with respect to overseeing all aspects of financial reporting, controls and functions.
The Committee spent considerable time liaising with the Club’s new Auditors PKF, in overseeing the audit program, the audit outcomes, and the preparation of the Club’s Annual Consolidated Financial Statements.
The Committee consists of: Chris Wood – Chair and Board Member David Hughes – Treasurer and Board Member Don Venn – Senior Member
The Committee has set itself a program for the current financial year, which includes, and will not be limited to, verifying and testing many of the Club’s key balance sheet items and structures as well as looking at the checks and balances relating to management controls.
During the course of the year the Committee carried out its usual reviews, monitored corporate risk including the Club’s insurance program, and worked with management to carefully understand and periodically check the internal financial performance.
Thank you to my fellow members for the considerable time and support they have given to a very important function within the Club’s formal structure. Chris Wood, Chair Audit committee
Cruising Yacht Club of South Australia Annual Report for 2011/2012
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Facilities Committee Report
Following the 2010 AGM, the Board of Management held an information session to update members on the status of a number of projects and the Club’s Master Plan, developed with the architectural firm Woods Bagot. The first phase of the Club’s Master Plan was to include storage and waste facilities to be constructed in the south part of the grounds. This project was to enable the shipping containers to be removed from our property to comply with Council’s demands and also meet storage needs for members as identified by survey. Room was to be provided for Association storage and for general Club requirements following the removal of the sheds by the ceremonial area. A new bulk waste facility had been designed to enable the current waste area by the Club entrance to be relocated to improve environmental as well as occupational health and safety and amenity aspects. Architect, Kym Glastonbury, was engaged and developed architectural drawings. An opportunity arose to apply to Federal Government for funding under the Climate Change Grant Program which involved modifying and expanding the proposal to fit in with the grant application guidelines. Modifications incorporated a range of environmental features but at the end of the day, the grant application was not successful, despite substantial effort going in to “tick all the boxes”. With other demands looming that would involve substantial costs (ie the need to build the Marina West breakwater extension and to replace Marina East) the Board asked the Facilities Committee to trim down this proposal to achieve the storage requirements only, at minimum cost. With that brief, proposals for storage sheds have been developed and quotations have been sought from preferred suppliers prior to submission to the Board for approval. This project is on the table but will need further financial modeling to ensure it is close to self-funding with the concept being for the users of the storage facility to make up the main funding. It is envisaged that responses to the initial survey will need to be followed up in this context.
The Facilities Committee had also been working through plans and specifications for redevelopment of the Club’s building at Port Vincent to better meet the needs of local and visiting marina users. The committee reached the point of evaluating tender proposals and refining the preferred tender to trim costs, and submitted a proposal to the Board for approval. Again, with a focus on tight financial restraint, the Board decided to go for a more modest improvement at Port Vincent and work has now been completed on the north side of the amenities building to better utilize that area. While this development is well short of the initial concept, it is set up to readily integrate with a larger scale development that may be considered in more flexible financial circumstances. A proposal to install shade sails for the ceremony area met with unexpected Council development application hurdles. However, the Club was able to get through each of those hurdles, doing so not just to get the application through but to ensure that its position was protected if at some time in the future it were to make more significant development applications. However, to maintain greatest financial flexibility, the shade sail installation has also been put on hold for the time being. Board member, David Murray took on responsibility for the Facilities Committee from John Gerard who retired from the Board in December 2010. Thanks to John who has maintained his involvement as well as to senior members Joe Walker, Geoff Boettcher and Graham Meyers for their ongoing commitment, and a special thanks to Craig Evans who has been the evercommitted project manager throughout. David Murray, Chair Facilities Committee
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Cruising Yacht Club of South Australia Annual Report for 2011/2012
CYCSA Marine Academy Committee Report The Academy completed its fifth year of operation and its second full year with Matt Young as Coordinator.
Courses The Academy has continued to run a variety of courses targeting member needs and interests along with running courses in introductory boating for members of the wider community. Overall activity levels and course numbers have plateaued due in no small way to the lack of YA qualified instructors available to take these courses on weekends and after hours. Matt Young, Brett Yardley, Rod Hunter, Andy Ship and John Edwards have all been involved in instructing this year. Brett Yardley intends to achieve YA Instructor certification status some time this year. The delays in achieving this RYA/YA higher qualification has come about due to the limited numbers of instructors in Australia wishing to undertake this course and the postponement of the course by YA on at least two occasions in the last twelve months. This higher level course can only be taken interstate. Our inability to obtain these higher qualifications however has meant that we have been unable to increase our pool of RYA/YA certified instructors and this limits the number of courses that can be offered. Until instructor numbers can be increased the Marine Academy is taking a cautious approach to wider community marketing and promotion of courses and activities. The Academy continues to have access to two J24s and Academy One. The RIB is used for powerboat courses, boat licence instruction and by the Club for safety and support during Club events. Four years ago the Club had none of these craft available to members.
Financials The financial report is summarised adjacent. The statement of cash flow will show an operating profit of around $8,000 which is less than the previous year. If the Academy Coordinator salary (covered within the total Club operating budget) is added into the expense report the Academy will have run at a small loss this year.
Future Directions The committee has spent some considerable time this year under the direction of Rowley Richardson in developing a strategic and business plan. The implementation of this plan will occur over the next two years. Access to suitably qualified instructors is a key challenge for the Academy and for the realisation of some of the goals in the strategic plan. The Academy, in conjunction with the Club, must also look for ways to re-engage the many students who have been through courses in the last four years. One of the early goals of the Marine Academy was to try and bring a net inflow of new crew and new members into the CYCSA. Although there has been little growth in the activity of the Academy in the last twelve months the recently revised strategic and business plan should give some focus to the Academy Committee, the Club and to Matt Young and his team who deliver the courses. The Board and the Committee consider that the Academy has the right fundamentals in place and that, in Cruising Yacht Club of South Australia Annual Report for 2011/2012
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time, it will be the premier provider of education and instruction for boating in South Australia. Andrew Saies, Chair CYCSA Marine Academy
Statement of Cash Flow 31 May 2012 Carried Forward Income SSSC Safety Sunday Intro Sail & WEA Sail Cruising Scheme Instructors Course Youth Keelboat RYA/YA Theory Course Marine Radio Course National Keelboat Scheme (NKBS) Powerboat (NPBS) Sponsorship/Fundraising SA Water Atlas Income Course Books Income Other Income - Jump On It Income Interest Total Income Expense SSSC Safety Sunday Intro Sail & WEA Sail Cruising Scheme Instructors Course/Accreditation RYA/YA Theory Course Marine Radio Course National Keelboat Scheme (NKBS) Powerboat (NPBS) Youth Keelboat Administration Advertising SA Water Atlas Course Books Other expenses Total Expenses Balance as at 31.5.12
$46,106.52
$3,263.61 $2,218.16 $9,031.82 $2,568.19 $636.36 $3,469.08 $1,190.00 $5,807.27 $2,202.26 $3,766.21 $0.00 $236.36 $0.00 $4,136.73 $2,310.48 $40,836.53
$3,137.56 $27.94 $4,441.20 $3,606.26 $522.73 $3,298.81 $4,613.18 $681.82 $2,598.46 $6,136.16 $0.00 $0.00 $1,033.37 $0.00 $97.90 $30,195.39 $56,747.66
Member Services, Sponsorship and Recruitment Committee Report 1. Evolution of the Committee from Member Services to Member Services, Sponsorship & Recruitment The initial Charter of the committee was to consult with members and to develop a range of initiatives to enhance the services provided by the Club to our membership. Following the launch of a revised members handbook and information packs for new members about the Club’s Associations and activities, this role was expanded by the Board to include the development of a whole of Club approach to sponsorship. This was to increase the overall level of sponsorship to the Club and its Associations by providing our sponsors with a broader and more flexible range of options that offer genuine value for their sponsorship support. It is also designed to assist Associations to develop their services to members by expanding their potential sponsorship pool and to establish a ‘Sinking Fund’ for future projects. An underlying principle of this initiative is that Associations would retain their current roles in seeking and dealing with sponsors as well as their rights to allocate sponsorship funds and to carry over any unused funding. Given the obvious interrelationships between sponsorship and marketing and the importance of membership to the Club, the Committee was also charged with assisting the Club and Associations in recruiting new members. These changes in function have been reflected in the membership of the Committee with the addition of representatives from each Association joining the existing members.
1.1. Committee Members Chair Wayne Coonan (Board Member) Geoff Catt (Commodore) Craig Evans (Executive Officer) Laura Cowley (Communications & Membership Services) Glenn Spear (Fishing Association Chair) Traci Ayris (Racing Association Chair) Jacq Heffernan (Social Activities Association Chair) Keith Degenhardt (Cruising Association Chair) Rowland Richardson (Rear Commodore) Matt Young (Marine Academy Coordinator) Trevor Paynter (Marketing & Promotions Subcommittee) Richard Watson (Marketing & Promotions Subcommittee) Mike O’Reilly (Marketing & Promotions Subcommittee)
2. Major Projects 2.1. Website The new website was a priority and the Club now has a website backed by state of the art technology which will allow the Club and its Associations to develop an array of initiatives to improve communication with members and to provide increased exposure opportunities for our sponsors. Apart from visual improvements, online registrations and payments were welcomed early benefits to members. Staff and Associations can now control all internal editing associated with the site resulting in more timely information for members. Members Online Survey An online member survey was created and respondents have provided valuable feedback of member opinion on many aspects of the Club. This survey technology can be adapted to cover a range of purposes and tailored for specific Association projects. Online Shop It is our intention to eventually develop an online shop where members can purchase CYCSA clothing and merchandise through an online payment gateway. However other developments were considered a higher priority and we hope to make this facility one of our projects for next year. Inducted Contractors Directory An Inducted Contractors Directory has been created and is being populated as contractor induction forms are being completed. We hope to make this page available to members soon. Members Forum The Members Forum was designed to add another element for intra Club communication between members on a range of member driven issues. From a governance perspective this has required the development of terms and conditions of use and privacy policies to be in place before it can be launched for members. The legal aspects of this have involved a prolonged process and we are thankful for the assistance of Andrew Corletto. This has now been completed and following Board approval the project will be approved for launch. Email Templates Work is progressing on designing a new email template for eBulletin distributions to members. Due to the expanding nature
11
Cruising Yacht Club of South Australia Annual Report for 2011/2012
Member Services, Sponsorship and Recruitment Committee Report (continued) of search platforms, there have been a few issues preventing us from migrating to the new template. However, we are confident these issues will be resolved shortly. Online Business Directory The Online Business Directory and has been well received by members and businesses alike. It continues to grow and is becoming a useful resource for members (and Club staff to direct member enquiries in an unbiased manner). Paid listings include a logo, multiple lines of contact details and an optional special offer or promotion for members. However, to acknowledge the support of our members, we also introduced free single line listings, which is a good opportunity for smaller business owners to participate and promote their business to fellow members. eBulletins are being sent out on approximately a monthly basis with special offers from participating businesses. Sponsors’ Links To add value to our sponsor partnerships we have automatically listed our sponsors businesses on the Directory as well. New links were created on the Club homepage to highlight the sponsorship and business directory pages. Member Benefits Page & FAQs In response to queries from members and staff, a Membership Benefits page has been added to the website to highlight the benefits of being a member of the CYCSA, as well as benefits available to individual membership categories. Hopefully this will be a useful resource to clarify any queries in relation to leasing, berth ownership and slipping rules etc. A FAQs page will be developed and added to the website in due course. Port Adelaide Enfield Council Rates A page was created on the website to provide information to members regarding the council rates on berths issue and will continue to be updated as developments progress. Other Improvements implemented on Website: • Online account access for members (including the ability to pay accounts online) • Increased areas allowing potential exposure for sponsors • Logo rotation on homepage for CYCSA certification logos.
Cruising Yacht Club of South Australia Annual Report for 2011/2012
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• •
Cruising Association pages enhanced with more information and a special menu. Marine Academy Home Page and internal pages with their own special menus course information and booking forms.
Whole of Club Sponsorship Concept The development of this initiative has included several meetings with Associations and members of the CYCSA Board. Concepts for Sponsorship Packages and the recruitment of members were work shopped and to accelerate their development a Marketing & Promotions Sub Committee has been formed. The focus of this group is to refine the concepts and develop a range of trial materials, including the planning for a promotional CYCSA video. The Board has approved a small budget to develop and ‘field test’ the prototypes, however the bulk of the costs are being provided pro bono by committee members. 2.2. Membership Trends Research The Committee, in conjunction with the Associations and the Club’s CEO Craig Evans, has reviewed various areas of research looking at issues related to membership trends, including the Gemba Report commissioned by Yachting Australia, the outcomes of the Inter Club exchanges/conference-workshop along with the CEO’s O/S Study. This has also been the focus of one of the President’s regular combined Board and Associations’ workshops. In line with a number of other yacht clubs in Australia the CYCSA Board has recently reviewed the category of Junior Membership and have modified this to include people up to the age of 21. The category has been renamed to be Youth Membership. Club Assets - Members/Associations Access Policy and Procedures These Guidelines have been created to provide management with instruction on the qualification requirements, booking, induction, preparation, charges and returning of vessels owned and maintained by the Club. The Club currently has a total of 5 vessels that are of varying size and type. As these vessels are all different they require varying qualifications, experience and skills to operate appropriately. These guidelines have been created to ensure the safety of those involved and for the protection and maintenance of CYCSA assets. The guidelines also assist to determine the manner in which these assets may be used to support sponsorship packages.
Member Services, Sponsorship and Recruitment Committee Report (continued) 2.3. Constitution & By-Laws update The quality of an organisation’s governance is an important component of its service to members. The Club’s Constitution & By-Laws form a central part of its suite of governance documents and for this reason periodic upgrades of all components are given a priority by the Board. As part of this process a group including Craig Evans, Andrew Saies, Geoff Catt and Chris Wood are to create a corporate governance document to reflect the current structure and desired objectives of the Club. 2.4. New Members’ Nights New Members’ Nights, otherwise known as ‘The Captain’s Table’ gatherings, are held approximately every quarter and are hosted by the Commodore or his representative. With members of the Association committee attending, the nights provide new members with an intimate opportunity to meet with CYCSA officials over dinner and learn more about what makes the Club tick. It’s proven to be a very successful way for new members to make new friends and be brought up to date with upcoming events and activities on the Club’s Calendar. 2.5. Hospitality Credit The Hospitality Credit initiative is now in its second year and applies to North Haven Senior Members. For those who regularly
attend the Club the $100 represents a pre-payment of charges that are normally incurred, and for those who don’t often visit the Club it is an encouragement to visit your Club and take advantage of the hospitality services on offer. Members simply present their membership card whenever they use the hospitality services at the Club and the charge for your food and beverage purchases will be debited to your member account and deducted from the pre-paid Hospitality credit. Presenting your card means you will automatically receive the members discount of 10% off the regular price. In not for profit clubs like ours, the only way to contain costs and still get things done is through the volunteering efforts of Club members. The value of this combined effort is rarely considered, but even on a gross underestimation of one day per volunteer per month the benefit to the Club would be in the thousands of dollars. This is especially so when consideration is given to the professional expertise these volunteers bring with them. Consequently, I would like to acknowledge and thank all of the Club’s volunteers but particularly my frequent Co-Chair and Commodore Geoff Catt and all members of the Member Services, Sponsorship & Recruitment Committee, including the members from Club’s Administration Team, Laura and Craig. Wayne Coonan, Chair Member Services, Sponsorship & Recruitment Committee
CYCSA History Book Committee Report The History Book Committee consists of the following members: John Gerard (Chair) Tom Tymons Trevor Paynter Craig Evans Laura Cowley The History Book Committee was formed to take advantage of a window of opportunity to gather information concerning the beginnings of the CYCSA while many of the people associated with those formative years are able to contribute to the process. Accordingly, as members would be aware, Kristin Weidenbach was employed as an historian to research and record the history of our Club from its very beginnings through to the well established Club we have today. The core manuscript is essentially complete and is undergoing its final editing and proofing process. The committee have been working hard to collate interesting and amusing anecdotes, stories and historical photos to accompany the text and ultimately produce a record of the Club’s history which we hope will be of
great interest and value to past, present and future members of the Club. Capturing the history of the Club has required a great deal of research using documents and recollections of our members. Over the past few years we have invited members to contribute to the history book and have received a great deal of information. Understandably, due to the amount of information and size limitations of the final product, not everything will make the cut. We would like to thank everyone who has contributed to the book and for taking the time to submit articles, photos or participate in interviews – it is very much appreciated. If, however, it seems that we have omitted something that you may find significant in the Club’s history we apologise in advance… but we did ask! The story of the Cruising Yacht Club of South Australia is quite remarkable and we look forward to the official launch which at this stage we hope will coincide with the Club’s 40th Anniversary celebrations in May 2013. John Gerard, Chair History Book Committee 13
Cruising Yacht Club of South Australia Annual Report for 2011/2012
Groundswell Editorial Committee Report Groundswell is the Club’s ‘flagship’ communication and promotion vehicle and attempts to reflect life at the Club by involving all the interest groups in contributing articles about their activities and seeking out topics that may be of interest to the members. The committee works hard to gather articles together for each edition, occasionally resorting to writing some of them so that fast-approaching deadlines are met and to ensure that the wide range of activities and events are reported on. To put the magazine together, it takes a bit of time on the part of an enthusiastic group of volunteers to make it happen and we really appreciate the input that the Club Associations in particular and other members make. Without the interest and response by our members it would be a slim volume each quarter. However, for Groundswell to maintain the high quality I believe we have achieved, we would appreciate receiving more input from all areas of the Club. If you have been on a fishing trip, completed a Marine Academy course, a cruise or participated in a race that you found interesting, odds are that so will many of the members, so put pen to paper and submit it to the Club Office for them to pass on to the editorial committee. Advertising is an important component of Groundswell in order to make it cost neutral to members, so if you would like to gain exposure to over 1200 members plus friends and coffee table readers, please speak to the Club office and they will advise you on advertising rates etc. The staff, and in particular Laura, are an important part of our production team and if the advertising revenue increases, then so can the quality and size of the magazine. Owen Mace and Rob Perrin assist in putting together and/or writing articles for the magazine with Owen being responsible for the ‘Technology’ articles that have been included recently.
Jess Hargreaves, the Racing Manager, and Traci Ayris from the Racing Association have been wonderful contributors for the Racing Association and racing activities/events in general. As racing is an integral part of Club life to have such informative and complete reporting is invaluable. Jacqueline Heffernan has kept us informed about the social side of the Club, various Cruising Association members have contributed articles about their functions and cruises and Glenn Spear contributed articles on the activities of the Fishing Association. Matt Young, Marine Academy Co-ordinator, has also been proactive in providing articles on what is happening within this very important adjunct to our Club. Trevor Paynter, our graphic designer, not only creatively lays out Groundswell ready for printing but he also contributes in a most enthusiastic way to the type of articles to be presented. Reflex Printing do a wonderful job of printing and getting the magazine out to members. Every now and again Club members comment to me how much they enjoy the magazine, particularly the articles from members with regard to their boating adventures. The article Chris Wood wrote about cruising the West Coast added to the variety of topics printed and the stories from all of our overseas adventurers expand everyone’s horizons. Over the years that I have been editing Groundswell, I have derived considerable pleasure working with other volunteers on such a great project, and take pride in contributing to such a high quality publication four times each year. We are always looking for contributions of articles and if anyone would like to volunteer their time to join the production group in some capacity, please make your interest known to us. It is a terrific way to support members and the Club. Thank you for your support over the year and I trust you continue to enjoy contributing to and reading Groundswell. Gay Footer, Chair Groundswell Editorial Committee
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Association Reports Cruising I am pleased to submit the report of the Cruising Committee for the 2011/2012 season. I would like to start by recognising the committee members who have worked diligently throughout the year: Rob Perrin Deputy Chair and Secretary Marty Heffernan Gerard Hughes Terry Denham Being a relatively small group it was at times difficult to organise meetings and reach a quorum, but we did manage to hold them on a more regular basis than in past years and so I thank everyone for the effort they have made on behalf of the members of our Club. The next person I wish to thank is Mark Charlesworth and Charlesworth Nuts for their continued support of the Cruising Association. Their support allows us to plan and undertake various projects for the benefit of all Club members and we are extremely grateful. Now to the past season’s activities. As seems to have been the case the last couple of seasons the weather has done its best to disrupt a good cruise. It seems every Cruise in Company planned for a holiday weekend was blown out, culminating in weather on Good Friday that was like an episode of The World’s Deadliest Catch if you were unfortunate enough to be on the water. However as always, as soon as the weather settled a bit Club boats took off in all directions and a good time was had in the usual spots around the gulf when two or more crews got together. Our 2nd Saturday of the month barbecues have again been well attended, weather notwithstanding, and it was good to see a number of new faces throughout the season. They are in recess at the moment but will start again in September, and we look forward to seeing you there. The subject of moorings has been something of a hot potato this year with the Board and management expressing concerns about the Club’s exposure to liability through the charging of fees and arranging bookings for their use. Thankfully this has been sorted and we are all in agreement about the way forward. We are working closely with the Fishing Association to upgrade all moorings at Edithburgh, Stansbury and Black point to the same standard, and will establish a routine inspection and maintenance schedule to ensure that these Club assets are kept in good order for the use of all members. Last year at this time I told you that we wanted to install a weather camera and weather station that could be linked to the Club website. We have sourced the appropriate product information and prices, and are ready to go ahead with the installation as soon as the Club can budget for the cash expenditure in these fiscally restrained times.
One thing I am able to announce as an achievement this year is the restructure of the CA section of the Club website. It has been our aim to make our site more user friendly in the provision of information relevant to cruising to members, and I think we have achieved this with the new format. It is by no means exhaustive in its content but should be seen as an organic document that will grow with your input. I am also able to report that the CA has allocated $3000 this year towards the renovation of the BBQ area at Pt. Vincent, a project that the Board has approved and which is now more like the original concept that we initially supported. Lastly, I finish on what I hope will be seen as a high note with the reintroduction of the Cruise of the Year Dinner on 25 August. This once highlight of the Club’s social calendar has languished for some years and been bogged down in rules about who could win! We have done away with this concept and replaced it with a dinner to celebrate any and all cruising undertaken by Club members, so please come along and celebrate time on the water with your fellow cruisers. As committee elections draw near we are always looking for new members that can bring new ideas and enthusiasm to the group. If you are able to give some of your time and energy please contact me or any of the other committee members. Your input would be valued. Keith Degenhardt, Chair Cruising Association
Statement of Cash Flow 31 May 2012 Balance Forward
$8,891.00
Income Burgees Sale Moorings Income Port Vincent Project Sponsorship Cruise of the Year Interest Other Income Total
$0.00 $40.00 $0.00 $0.00 $0.00 $406.53 $279.09 $725.62
Expenses Environmental Day (BBQ) Hospitality Flags Entertainment Trophies/Prizes Refridgerator Badges Mooring Total
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $104.55 $104.55
Balance as at 31.5.12 15
$9,512.07
Cruising Yacht Club of South Australia Annual Report for 2011/2012
Association Reports Fishing I have much pleasure in presenting the Annual Report for the Fishing Association. The committee again worked tirelessly on various events and their support is very much appreciated. At this time, I am pleased to report that almost everyone has re-nominated for the committee next year. Ray Baddeley is spending much of his time in Port Lincoln and will not re-nominate. I thank Ray for his support over the last few years. The committee members for 2011/2012 were: Glenn Spear – Chairman John Colella – Secretary Bruce Tasker – Treasurer Ray Baddeley Peter Newmarch Leica Theodore Graham Meyers Malcolm Kitto Geoff Wiggins We are fortunate to have the support of several sponsors. Custom Cartons, our longest serving sponsor, are valued contributors – thank you John Gerard. Riviera – thanks to Paul Harrop and Ross Almond. Maritimo – thank you to Andrew Craddock and team. Cummins – again were naming sponsors for Crabbing Day. Thank you John, Andrew and team. A new sponsor, Adelaide Motors were ‘on board’ for a very short time, however circumstances outside of the committee’s control meant that their support was lost. The Fishing Association runs several important events in the Club calendar: In July 2011 we held our ‘Seafood Extravaganza’, with a maximum attendance of just over 140 people. The night was a huge success and the Club portrayed in a positive manner with an ‘up market’ focus. Central Audio Visual were major supporters
Cruising Yacht Club of South Australia Annual Report for 2011/2012
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with all the audio/visual equipment donated. Special thanks to the Chef Peter and Mario for fantastic support. In November 2011, the Boating Showcase was well supported. We again had several beautiful boats from Riviera and Maritimo on display and the enjoyable opportunity for people to mix and exchange ‘fishing’ stories. Again, we appreciated the help of Tracey Spear, Louise Wiggins, Wendy West, Tina Schembri and Jenny Tymons for the delicious sweets that were provided on the night. The second largest event on the Club calendar is Crabbing Day. Cummins were naming sponsor and it was a pleasure to host the boys on ‘Lifestyle 111’. We didn’t catch the most crabs but had a great time in enjoyable sea conditions. The Club boat CYC1, skippered by Ray Evans and crew, was again available to members who could not source a boat on the day – thanks guys. We continued with our approach to have everyone participate in fishing on the day and we are pleased to see so many people embrace this philosophy. The crab catch was excellent, prizes were awarded in all categories and everyone was seated under shade. A raffle benefitting Ronald McDonald House was held and the Club received an official receipt and letter of thanks. Crabbing Day is an important event in that it encourages an attitude of camaraderie between all members. It is very satisfying to see all Associations, staff and members pitch in to make the day a success – thank you. We are to run a fishing competition later this year and we hope to make this an annual event. Please keep an eye out for this – it will be fun! We encourage any Fishing Association members to nominate for trophy awards – details are on the website. We are again proud to produce a positive cash contribution for Club members. The committee works diligently to control expenditure. All events are held in-house and the Club caters for these functions. Accordingly, the Club benefits from both a positive cash flow injection and the profit derived from catering.
Association Reports Fishing (continued) The Fishing Association holds significant cash reserves of approximately $71,000.00. The committee feels that this money should be used for the benefit of Club members by way of infrastructure improvements. In collaboration with the Cruising Association, we are in the process of funding new moorings at Stansbury and Black Point. Fishing Association members will be able to use these moorings at no charge. If you are not a FA member, your $22.00 annual fee may be a good investment. The committee voted to allocate significant funding for much needed upgrades to the bar area; particularly new patio blinds, flooring and painting etc. The Club supports our vision, however, have asked us to defer capital expenditure at this time. As the Club finances improve, we will implement and drive this much needed upgrade. I am proud to be Chairman of the Fishing Association. I enjoy working with a dedicated committee. Thanks at this time to CYCSA staff, Cruising, Racing and Social Committee members. Special thanks to Commodore Geoff Catt, both he and Mavis make a special effort to attend many Club functions. Glenn Spear, Chairman Fishing Association
Statement of Cash Flow 31 May 2012 Balance Forward
$65,995.32
Income Subscription Fees Crabbing Day Income Sponsorship Shirts/Burgee/Flag Sales Seafood Night Income Fishing Competition Boat Show Income Moorings Income Interest Total
$2,960.00 $4,159.06 $6,500.00 $31.82 $9,924.16 $0.00 $0.00 $20.00 $2,966.96 $26,562.00
Expenses Subscription Expenses Bar/Catering Expenses Crabbing Day Expenses Shirts/Embroidery Donations Fishing Competition Seafood Night Expenses Boat Show Expenses Flags Other Expenses/Meeting/Badges Total
$0.00 $658.09 $6,821.08 $872.73 $0.00 $0.00 $11,448.87 $1,282.83 $0.00 $805.04 $21,888.64
Balance as at 31.5.12
$70,668.68
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Cruising Yacht Club of South Australia Annual Report for 2011/2012
Association Reports Social This has been another very successful year for the committee. Events have included the Port River Rally, Mouse Cup, Girls Night In, Children’s Christmas Party, Let It Be Beatles Club Christmas Party, Boat Hop, Cruising into Winter Dinner, Progressive Dinner and the Commodore’s Dinner. This year’s committee has consisted of Jacq Heffernan (Chair), Pam Humeniuk (Secretary), Sandra Richards (Treasurer), Morag Draper, Anne Burrows Jnr, Don Guy, and Karen Johns. It goes without saying that the partners of the above put in huge amounts of effort and I would like them to be recognised for that, including Pauline and Henry Garner, our very supportive volunteers. The focus on the last 12 months has been on defining what works best for the Club. It seems that some of the previously very successful functions have run their course which simply means other great ideas are in the making. The Port River Rally was a great day with a dozen boats, power and sail, large and small, snaking their way up the Port River (an idea that had been done before but not for many years). On this occasion, Marina Adelaide jumped at the opportunity to come on board (pardon the pun) and provide delightful refreshments at the marina in the Port River.
time of preparing this report there is one function left on our calendar for the Committee’s year, the 2012 Commodore’s Dinner. This is always a stunning event with a lot of effort and preparation involved, and we hope everyone will enjoy ‘A Night of Romance’. Due to family commitments my time on the Committee has come to a sad close. Pam Humeniuk has been handed the helm at very short notice to see the year out and perhaps lead the fleet in the coming year. Being part of this committee has been extremely rewarding and I shall miss the closeness of those who have been on this adventure with me. Part of the experience has been meeting new members who have become immersed in this unique Club environment and have now forged lifelong friendships. Jacqueline Heffernan, Retiring Chair Social Activities Association
Statement of Cash Flow 31 May 2012 Carried Forward
$13,846.47
Income Mouse Cup Xmas Raffle Boat Hop Kids Xmas Party Commodore’s Dinner Girls Night In Cruising into Winter Night Cheese Night Fundraising Interest River Rally Total
$1,457.74 $0.00 $4,863.60 $1,666.09 $8,686.29 $0.00 $45.45 $0.00 $0.00 $545.76 $218.16 $17,483.09
As a result of funds raised over the years, the committee were happy to donate $5000 to the Port Vincent BBQ and will consider ongoing fundraising to help complete the project as it so well compliments the Club environment. We have also been able to donate a substantial amount towards capital expenditure on CYC1.
Expenses Mouse Cup Xmas Party Expenses Boat Hop Kids Xmas Party Expenses Commodore’s Dinner Girls Night In Cruising into Winter Night Function Expenses Capital Items for the Club Funds donated to Racing Association Hospitality Expenses Other CYC1 expenses River Rally Total
$863.19 $433.83 $4,888.07 $1,318.18 $6,272.49 $32.50 $500.00 $0.00 $0.00 $0.00 $622.26 $754.35 $3,700.00 $181.59 $19,566.46
Last year’s Commodore’s Dinner was a great success with our Winter Wonderland Theme and spectacular decoration. At the
Balance as at 31.5.12
$11,763.10
A diminishing number of young children meant fewer young ones attending the ever popular Children’s Christmas Party but, as always, it was a wonderful event. The Boat Hop is a premier event and I hope the trend continues for the benefit of new and old members alike. The committee are always thinking of ways to benefit external communities with the Girls Night In being a massive hit thanks to Morag Draper. The Queens of Clean raised $1800 for Movember, shared between our three male participants of the normally clean shaved variety, Vlad Humeniuk, Mario Cataldi and Shaun (barman). I mention these two fundraising events to show that everyone with an idea is encouraged to consider the option seriously. The goal is to encourage members, old and new, to use the Club and the results are clearly evident. Trying something different was the goal of the Progressive Dinner – Pam Humeniuk’s idea. This was a fantastic event and it was wonderful to see familiar faces from all facets of the Club; even a number of die-hard racers had crossed the marina to have a noncompetitive night of fun.
Cruising Yacht Club of South Australia Annual Report for 2011/2012
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Association Reports Racing Racing Association Committee members for 2011/12 were Traci Ayris (Chairperson), William Strangways (Vice Chair), Brenton Pegler, Roger Nicholson, John Gibson and Mark Hutton. Vice Commodore Rob Sellick was yet again a valuable asset ex-officio and Jess Hargreaves continued to prove her most excellent worth in the Race Office. On behalf of all racing members I thank each and every one for their time and support. The role of Race Officer is an often demanding and sometimes thankless task. REX acknowledges the time and effort John Gibson, Ray Evans and David Saies have invested to facilitate our season program as our represented RO’s. Our Duty Crew volunteers and Race Officers are the backbone of the Racing Association and we cannot underestimate the dedication of this group or fail to value their efforts. Despite the fact that our protest committee has only convened on a few occasions, Simon Irving and Wayne Thompson have also been generous with their time when called upon and we thank them for their help and advice this past season. The CYCSA Racing Association elected to work once again with the RSAYS to produce and implement a combined 2011/2012 Racing program. Both club associations canvassed members for their feedback on the previous years’ program and, in a collaborative effort, adjustments were made accordingly. The level of co-operation between both clubs over the past two seasons has continued to improve and, for the most part, skippers and crews are enjoying the combined fleets. Racing Association membership numbers have remained largely static over the past three years and REX aims to increase, or at the very least maintain, this position this coming season. While three boats were removed from our Racing Association Fleet Register this past year we can report that nine boats were added to that same list. REX noted an increase in all Regatta fleet sizes this past season. The Premiers Cup Regatta saw a fleet of 29 nominations, the Great Southern Regatta a fleet of 36 and Queen of the Gulf a total of 23. Building on the success of Ladies Helm Twilight Races we were also pleased to again see large fleets for both races.
On the suggestion of members, a casual race to Port Vincent, in conjunction with our short-handed series, was held recently. This weekend destination race also proved to be a great success. Racing yachts from the CYCSA once again represented our Club interstate, notably the crews of Patrice IV and Two True which competed in the Sydney Hobart race. Two True also competed in Victoria’s 2012 Festival of Sails, posting a second place result in IRC Division B. The J24 Australian Championships were hosted at the CYCSA this year, a most successful regatta which REX will use as a template for similar events in the future. We were pleased to note that the number of crews from Port Adelaide Sailing Club joining us on occasion also increased and we hope that such interclub camaraderie will continue to build. No racing season is without its challenges. As a committee we continue to adapt, learn from mistakes, make adjustments where necessary, and work to solidify our position in this extremely challenging financial climate. The Racing Association is also pleased to report that we have achieved most of the goals set at the end of last season. By making minor adjustments to our flexible membership fee structure we will continue to provide a range of joining options which will help to ensure that it is a simple process for any interested people to join us out on the water. We also continue to work on consolidating the longevity of our Duty Crew volunteer group. Our core group is ever-reliable but we recognise the need to train back-up personnel and increase skills for the future in regard to new technology. It is fundamentally imperative that in future seasons our CYCSA duty boats can be crewed with teams as wonderful as those we have at present. As always, we welcome assistance from any interested members who might like to assist our wonderful volunteer crew on race days. In the current financial climate we are overwhelmingly thankful for the support of our wonderful sponsors. Phil Hoffmann Travel, Port River Marine, Penfolds, Yalumba, MUSTO, Doyle Sailmakers, Stag Hotel and Canegrass Saltbush Lamb have once again been integral to the success of our season and we do urge our members to support our valuable sponsors whenever possible.
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Cruising Yacht Club of South Australia Annual Report for 2011/2012
Association Reports Racing (continued)
Statement of Cash Flow 31 May 2012
We are also thankful to businesses such as Sportsmed, Channel 7/Vislex and EverettBrookes Jewellery which chose to support the Association by sponsoring individual races and/or regattas during the season. REX is mindful that Sponsorship is one of the major challenges our Association faces at this point in time. We are considering a number of fundraising initiatives for the coming season which will hopefully help to offset an anticipated decrease in corporate support. Despite these uncertain times however, considerable belttightening by REX and close monitoring by Jess Hargreaves has ensured that our Association financials are a healthy testimony to the efforts undertaken to reduce any deficit to a bare minimum. A new committee for 2012/13 will soon be convened but I anticipate that the ongoing focus for the next REX will be to maintain the core business of the association: •
Plan and facilitate a Program which caters for the ongoing needs of racing members
•
Improve the skill set/size of the volunteer pool and streamline protocols with a view to Duty of Care
•
Work with associated groups to further the sport of Yachting
•
Maintain/improve the Association’s financial position via membership, sponsorship and fundraising initiatives
Thanks, in the main, to our wonderful Racing Manager Jess Hargreaves, the Racing Association can report that the past season, while not without its challenges, has progressed well. The committee looks forward to finalising the 2012/13 Program as it prepares for another successful season of racing. Traci Ayris, Chair Racing Association
Cruising Yacht Club of South Australia Annual Report for 2011/2012
20
Carried Forward Income Racing Fees Casual Racing Fees Racing Nominations Casual Nominations Event Nominations J24 Australian Championship Fundraising Flags Book Sales Buoy Maintenance Presentation Night Income Sail Storage Shed Interest Income Other Income Sponsorship Musto Yalumba Phil Hoffmann Travel Winter Port River Marine Sportsmed SA EverettBrookes Custom Jewellery Vislex Total Income
$40,549.68
$26,074.08 $1,490.77 $22,536.18 $1,631.95 $18.18 $3,863.61 $1,303.77 $1,081.82 $29.09 $615.00 $1,041.65 $6,340.95 $1,877.26 $125.91 $0.00 $2,000.00 $7,500.00 $4,545.46 $1,500.00 $500.00 $500.00 $84,575.68
Expense Administration Event Expenses Staff Training CYC1 Airhorn Office Expenses Buoy Maintenance Sponsors Expenses Duty Crew Expenses Hospitality Blue Books expenses Clothing Internet /Computing Fax machine Flags Motor Vehicle Expenses Presentation Night expenses Regattas Expenses Trophies Other Expenses Total Expenses
$54,349.26 $24.27 $0.00 $25,000.00 $36.27 $0.00 $821.46 $340.91 $2,580.91 $733.17 $0.00 $0.00 $350.00 $49.00 $272.73 $0.00 $2,286.96 $0.00 $949.06 $111.27 $87,905.27
Balance as at 31.5.12
$37,220.09
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’)
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.
- is responsible for the management of the Club with delegation of appropriate responsibilities to the Executive Officer.
•
The major assets of the trust are the Western Basin including Marina West and the water area adjoining the northern peninsula.
- act as Directors of CYC (SA) Management Pty Ltd, the trustee of the CYC (SA) Unit Trust.
•
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.
- 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, and 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).
BOARD OF MANAGEMENT Directors elected annually by Senior Members
CYC Ramp Pty Ltd As trustee for
CYC Ramp Trust Owns Marina West, ramp and adjacent land and water, including channel
CYC (SA) Management Pty Ltd
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
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
Beneficiaries Senior Members
Members
21
Cruising Yacht Club of South Australia Annual Report for 2011/2012
CYCSA Inc and Controlled Entities Independent Audit Report to the Members of the Cruising Yacht Club of SA Inc and Controlled Entities
Report on the Financial Report We have audited the accompanying financial report of the consolidated entity comprising CYC (SA) Unit Trust and the entities it controlled at the year’s end or from time to time during the financial year, which comprises the statement of financial position as at 31 May 2012, the statement of comprehensive income, the statement of changes in equity and the statements of cash flows for the year then ended, notes comprising a summary of significant accounting policies and other explanatory information, and the statement by the Trustees and Board of Management of the Cruising Yacht Club of SA Inc.
Management’s Responsibility for the Financial Report Management is responsible for the preparation and fair presentation of the financial report in accordance with Australian Accounting Standards and for such internal control as management determines is necessary to enable the preparation of the financial report that is free from material misstatement, whether due to fraud or error.
to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial report 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 entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Opinion In our opinion, the financial report presents fairly, in all material respects, the financial position of the consolidated entity, as at 31 May 2012, and its financial performance and cash flows for the year then ended in accordance with Australian Accounting Standards.
Auditor’s Responsibility Our responsibility is to express an opinion on the financial report based on our audit. We conducted our audit in accordance with Australian Auditing Standards. Those standards require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance about whether the financial report is free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the financial report, whether due
PKF Chartered Accountants
G K Edwards Partner Signed in Adelaide this 30th day of July 2012
Tel 08 7421 1400 I Fax 08 7421 1499 adelaide@pkf.com.au I www.pkf.com.au A South Australian Partnership I ABN 21 903 784 597 Level 2 I 139 frome Street I Adelaide I South Australia 5000 GPO Box 2505 I Adelaide I South Australia 5001 PKF Adelaide Audit Practice is a member of PKF Australia Limited a national association of independent chartered accounting and consulting firms each trading as PKF, PKF Australia Limited is a member of PKF International, an association of legally independent chartered accounting and consulting firms. Liability limited by a scheme approved under Professional Standards Legislation
Cruising Yacht Club of South Australia Annual Report for 2011/2012
22
Statement of Comprehensive Income for the Year Ended 31 May 2012
Note
2012
2011
$
$
Revenue 2 2,984,383 Other revenue 2 243,394 Employee benefits expense (1,140,118) Depreciation (599,807) Rates & taxes (122,788) Insurance (79,239) Impairment expense (12,230) Repairs & maintenance expenses (281,586) Cost of sales (445,587) Other expenses (708,381) Finance costs (38) Operating surplus/(deficiency) 3 (161,995) Other comprehensive income - Total comprehensive income (161,995)
2,947,213 107,586 (1,024,054) (581,844) (131,937) (79,585) 23,292 (247,872) (390,371) (801,373) (65) (179,010) (179,010)
The above statement of financial position should be read in conjunction with the accompanying notes.
23
Cruising Yacht Club of South Australia Annual Report for 2011/2012
Statement of Financial Position as at 31 May 2012
Note 2012 $ Assests Current assets Cash and cash equivalents 5 866,877 Trade and other receivables 6 81,345 Inventories 7 60,026 Other assets 8 63,395 Total Current Assets 1,071,643 Non-Current Assets Property, plant and equipment 9 17,957,083 Total Non-Current Assets 17,957,083 Total Assets 19,028,726 Liabilities Current Liabilities Trade and other payables 10 478,847 Short-term provisions 11 127,266 Total Current Liabilities 606,113 Non Current Liabilities Trade and other payables 10 5,489,686 Other long-term provisions 11 43,515 Total Non Current Liabilities 5,533,201 Total Liabilities 6,139,308 Net Assets 12,889,418 Equity Issued Capital 12 6,118,737 Reserves 5,697,666 Retained earnings 1,073,015 otal Equity 12,889,418
The above statement of financial position should be read in conjunction with the accompanying notes.
Cruising Yacht Club of South Australia Annual Report for 2011/2012
24
2011 $
719,139 124,706 45,340 40,080 929,265
18,519,679 18,519,679 19,448,945
578,636 120,283 698,919
5,641,939 49,126 5,691,065 6,389,984 13,058,961
6,126,287 5,697,666 1,235,008 13,058,961
Statement of Changes in Equity for the Year Ending 31 May 2012
Contributed Capital 2012 Balance at 1 June 2011 6,126,287 Contributed capital (7,550) Operating surplus for the year - Balance at 31 May 2012 6,118,737 2011 Balance at 1 June 2010 Contributed capital Operating surplus for the year Balance at 31 May 2011
6,044,187 82,100 - 6,126,287
Retained Earnings
Premium Reserve $
Revaluation Reserve $
Total
1,235,010 - (161,995) 1,073,015
1,305,150 - - 1,305,150
4,392,516 - - 4,392,516
13,058,966 (7,550) (161,995) 12,889,421
1,414,019 - (179,010) 1,235,010
1,305,150 - - 1,305,150
4,315,366 77,150 - 4,392,516
13,078,722 159,250 (179,010) 13,058,966
$
The above statement of financial position should be read in conjunction with the accompanying notes.
25
Cruising Yacht Club of South Australia Annual Report for 2011/2012
Statement of Cash Flows for the Year Ending 31 May 2012
Note Cash flows from operating activities Receipts from customers Payments to suppliers and employees Interest paid Interest received Net cash provided by (used in) operating activities 15(a)
2012 $
2011 $
3,206,650 (3,069,906) (38) 55,791 192,498
2,963,452 (2,868,380) (65) 50,211 145,218
Cash flows from investing activities: Payment for property, plant and equipment Net cash provided by (used in) investing activities
(37,210) (37,210)
(275,736) (275,736)
Cash flows from financing activities: Proceeds from issue/(redemption) of units in Unit Trust Proceeds from sale of berth licences Net cash provided by (used in) financing activities
(7,550) - (7,550)
159,250 400,637 559,887
Net increase (decreases) in cash held Cash at beginning of financial year Cash at end of financial year 5
147,738 719,139 866,877
The above statement of financial position should be read in conjunction with the accompanying notes.
Cruising Yacht Club of South Australia Annual Report for 2011/2012
26
429,369 289,770 719,139
Notes to the Financial Statements for the Year Ending 31 May 2012
Note 1: Summary of Significant Accounting Policies General Information The financial report covers the Cruising Yacht Club of SA Inc. (the Association) and Controlled Entities comprising the Association, CYC (SA) Unit Trust and CYC Ramp Trust, as a consolidated group (“the group”). The Cruising Yacht Club of SA Inc. is an Incorporated Association, established and domiciled in Australia. The principal accounting policies adopted in the preparation of the financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
New, Revised or Amending Accounting Standards and Interpretations Adopted The group has adopted all of the new, revised or amending Accounting Standards and interpretations issued by the Australian Accounting Standards Board (‘AASB) that are mandatory for the current reporting period. The group has early adopted AASB 1053 ‘Application of Tiers of Australian Accounting Standards’ and AASB 2010-02 ‘Amendments to Australian Accounting Standards arising from Reduced Disclosure Requirements’. No other new, revised or amending Accounting Standards or Interpretations that are not yet mandatory have been early adopted. Any significant impact on the accounting policies of the incorporated association from the adoption of these Accounting Standards and Interpretations are disclosed in the relevant accounting policy. The adoption of these Accounting Standards and Interpretations did not have any significant impact on the financial performance or position of the group. The following Accounting Standards and Interpretations are most relevant to the incorporated association: AASB 1053 Application to Australian Accounting Standards The group has early adopted AASB 1053 from 1 June 2011. This standard establishes a differential financial reporting framework consisting of two Tiers of reporting requirements for preparing general purpose financial statements, being Tier 1 Australian Accounting Standards and Tier 2 Australian Accounting Standards – Reduced Disclosure Requirements. The group being classed as Tier 2 continues to apply the full recognition and measurements requirements of Australian Accounting Standards with substantially reduced disclosure in accordance with AASB 2010-2. AASB 2010-2 Amendments to Australian Standards Arising from Reduced Disclosure Requirements The group has early adopted AASB 2010-2 from 1 January 2011. These amendments make numerous modifications to a range of Australian Accounting Standards and Interpretations, to introduce reduced disclosure requirements to the pronouncements for application by certain types of entities in preparing general purpose financial statements. The adoption of these amendments has eliminated various disclosure requirements that were considered not to add value to the financial report, and is consistent with the practice of a number of comparable organisations.
Basis of Preparation These general purpose financial statements have been prepared in accordance with Australian Accounting Standards – Reduced Disclosure Requirements and Interpretations issued by the Australian Accounting Standards Board (‘AASB’). These financial statements do not comply with International Financial Reporting Standards as issued by the International Accounting Standards Board (‘IASB’). Historical Cost Convention The financial statements have been prepared under the historical cost convention, except for the revaluation of certain non-current assets. (a) Principles of Consolidation The consolidated financial statements incorporate the assets, liabilities and results of the entities controlled by the Cruising Yacht Club of SA Inc. at the end of the reporting period. A controlled entity is an entity over which the Cruising Yacht Club of SA Inc. has the power to govern the financial and operating policies so as to obtain benefits from its activities. In assessing the power to govern, the existence and effect of holdings of actual and potential voting rights are considered.
A list of controlled entities is contained in Note 14 to the financial statements.
All inter-group balances and transactions between entities in the Group, including any unrealised profits or losses, have been eliminated on consolidation. Accounting policies of subsidiaries have been changed where necessary to ensure consistency with those adopted by the parent entity.
(b) Income Tax The Cruising Yacht Club of SA Inc is exempt from income tax under Div 50 of the Income Tax Assessment Act 1997. Under current income tax legislation, the CYC (SA) Unit Trust and the Ramp Trust are not liable to income tax provided their taxable income is fully distributed to beneficiaries. (c) Inventories Inventories are measured at the lower of cost and current replacement cost. (d) Property, Plant and Equipment Each class of property, plant and equipment is carried at cost or fair value as indicated less, where applicable, any accumulated depreciation and impairment losses.
Property, plant and equipment are shown at their fair value (being the depreciated replacement cost of the asset), based on periodic valuations by external independent valuers, less subsequent depreciation.
In periods where the property plant and equipment are not subject to independent valuation, the directors conduct director valuations to ensure the carrying amount is not materially different to the fair value.
Increases in the carrying amount arising on revaluation of property, plant and equipment are credited to a revaluation reserve in equity. Decreases that offset previous increases of the same asset are charged against fair value reserves directly in equity; all other decreases are charged to the statement of comprehensive income.
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Cruising Yacht Club of South Australia Annual Report for 2011/2012
Notes to the Financial Statements for the Year Ending 31 May 2012
Any accumulated depreciation is eliminated against the gross carrying amount of the assets and the net amount is restated to the re-valued amount of the asset.
The carrying amount of property, plant and equipment is reviewed annually by the directors to ensure it is not in excess of the recoverable amount from these assets. Refer Note 1 (g) for further details in relation to the treatment of assets when impaired
The cost of fixed assets constructed within the economic entity includes the cost of materials, direct labour and borrowing costs.
Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable the future economic benefits associated with the item will flow to the economic entity and the cost of the item can be measured reliably. All other repairs and maintenance are charged to the statement of comprehensive income during the financial period in which they are incurred.
(f) Financial Instruments Initial Recognition and Measurement Financial assets and financial liabilities are recognised when the economic entity becomes a party to the contractual provisions to the instrument. For financial assets, this is the equivalent to the date that the economic entity commits itself to either purchase or sale of the asset (i.e. trade date accounting is adopted).
Depreciation The depreciable amount of all fixed assets including buildings and capitalised leased assets, but excluding freehold land, is depreciated on a straight-line basis over the asset’s useful life to the economic entity commencing from the time the asset is held ready for use. Leasehold improvements are depreciated over the shorter of either the unexpired period of the lease or the estimated useful lives of the improvements.
The depreciation rates used for each class of depreciable assets are: Class of Fixed Asset Depreciation Rate Buildings 3% Marina 2.5% Plant and equipment 3% - 50%
The assets’ residual values and useful lives are reviewed, and adjusted if appropriate, at each balance sheet date.
An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount.
Lease payments for operating leases, where substantially all of the risks and benefits remain with the lessor, are charged as expenses on a straight line basis over the life of the lease term.
Financial instruments are initially measured at fair value plus transactions costs, except where the instrument is classified ‘at fair value through profit or loss’, in which case transaction costs are expensed to profit or loss immediately.
Classification and Subsequent Measurement Finance instruments are subsequently measured at either of fair value, amortised cost using the effective interest rate method, or cost. Fair value represents the amount for which an asset could be exchanged or a liability settled, between knowledgeable, willing parties. Where available, quoted prices in an active market are used to determine fair value. In other circumstances, valuation techniques are adopted.
(i) Amortised cost is calculated as: • the amount in which the financial asset or financial liability is measured at initial recognition; • less principal repayments; • less any reduction for impairment.
Gains and losses on disposals are determined by comparing proceeds with the carrying amount. These gains and losses are included in the statement of comprehensive income. When revalued assets are sold, the amounts included in the revaluation reserve relating to that asset are transferred to retained earnings.
The effective interest method is used to allocate interest income or interest expense over the relevant period and is equivalent to the rate that exactly discounts estimated future cash payment or receipts (including fees, transaction costs and other premiums or discounts) through the expected life (or when this cannot be reliably predicted, the contractual term) of the financial instrument to the net carrying amount of the financial asset or financial liability. Revisions to expected future net cash flows will necessitate an adjustment to the carrying value with a consequential recognition of an income or expense in profit or loss.
(e) Leases Leases of fixed assets where substantially all the risks and benefits incidental to the ownership of the asset, but not the legal ownership, that are transferred to entities in economic entity are classified as finance leases.
The economic entity does not designate any interests in subsidiaries, associates or joint venture entities as being subject to the requirements of accounting standards specifically applicable to financial instruments.
(ii) Financial assets at fair value through profit and loss Financial assets are classified at ‘fair value through profit or loss’ when they are either held for trading for the purpose of short-term profit taking, derivatives not held for hedging purposes, or when they are designated as such to avoid an accounting mismatch or to enable performance evaluation where a group of financial assets is managed by key management personnel on a fair value basis in accordance with a documented risk management or investment strategy. Such assets are subsequently measured at fair value with changes in carrying value being included in profit or loss.
Finance leases are capitalised by recording an asset and a liability at the lower of the amounts equal to the fair value of the leased property or the present value of the minimum lease payments, including any guaranteed residual values. Lease payments are allocated between the reduction of the lease liability and the lease interest expense for the period.
Leased assets are depreciated on a straight-line basis over their estimated useful lives.
Cruising Yacht Club of South Australia Annual Report for 2011/2012
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Notes to the Financial Statements for the Year Ending 31 May 2012
(iii) 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.
Loans and receivables are included in current assets except for those which are not expected to mature within 12 months after the end of the reporting period, which will be classified as non current assets.
(iv) Held-to-maturity investments Held to maturity investments are non derivative financial assets that have fixed maturities and fixed or determinable payments, and it is the Group’s intention to hold these investments to maturity. They are subsequently measured at amortised cost.
Held to maturity investments are included in non current assets, except for those which are expected to mature within 12 months after the end of the reporting period, which will be classified as current assets. If during the period the economic entity sold or reclassified more than an insignificant amount of held to maturity investments before maturity, the entire category of held to maturity investments would be tainted and would be reclassified as available for sale.
(v) Available-for-sale financial assets Available-for-sale financial assets are non-derivative financial assets that are either not suitable to be classified into other categories of financial assets due to their nature, or they are designated as such by management. They comprise investments in the equity of other entities where there is neither a fixed maturity nor fixed or determinable payments.
Available-for-sale financial assets are included in non-current assets, except for those which are expected to mature within 12 months after the end of the reporting period, which will be classified as current assets.
(vi) Financial liabilities Non-derivative financial liabilities (excluding financial guarantees) are subsequently measured at amortised cost.
At each reporting date, economic entity assess whether there is objective evidence that a financial instrument has been impaired. In the case of available-for-sale financial instruments, a prolonged decline in the value of the instrument is considered to determine whether an impairment has arisen.
Derecognition Financial assets are derecognised where the contractual rights 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. Financial liabilities are derecognised where the related obligations are either discharged, cancelled or expired. The difference between the carrying value of the financial liability extinguished or transferred to another party and the fair value of consideration paid, including the transfer of non cash assets or liabilities assumed is recognised in profit or loss.
(g) Impairment of Assets At each reporting date, the economic entity reviews the carrying values of its tangible and intangible assets to determine whether there is any indication that those assets have been impaired. If such an indication exists, the recoverable amount of the asset, being the higher of the asset’s fair value less costs to sell and value in use, is compared to the asset’s carrying value. Any excess of the asset’s carrying value over its recoverable amount is expensed to the statement of comprehensive income.
Where it is not possible to estimate the recoverable amount of an individual asset, the economic entity estimates recoverable amount of the cash generating unit to which the asset belongs.
(h) Cash and Cash Equivalents Cash and Cash Equivalents include cash on hand, deposits heldat call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within short-term borrowings in current liabilities on the statement of financial position. (i) Employee Benefits Provision is made for the economic entity’s liability for employee benefits arising from services rendered by employees to balance date. 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 present value of the estimated future cash outflows to be made for those benefits. These cashflows are discounted using market yields on national government bonds with terms to maturity that match the expected timing of cashflows.
29
Cruising Yacht Club of South Australia Annual Report for 2011/2012
Notes to the Financial Statements for the Year Ending 31 May 2012
(j) Provisions Provisions are recognised when the economic entity has a legal or constructive obligation, as a result of past events, for which it is probable that an outflow of economic benefits will result and that outflow can be reliably measured.
(k) Revenue and Other Income Revenue from the sale of goods is recognised at the point of delivery as this corresponds to the transfer of significant risks and rewards of ownership of the goods and the cessation of all involvement in those goods.
(n) Comparative Figures When required by Accounting Standards, comparative figures have been adjusted to conform to changes in presentation for the current financial year.
Annual membership subscriptions and fees raised by the economic entity during the year are recognised as gross revenue.
Licence rental income to occupy Marina West berths have been accounted for in accordance with Australian Accounting Standard AASB 117 Leases. In accordance with that standard, the licence rental income to occupy a berth is recognised over a 40 year period, representing the time pattern in which use benefit derived from the berth is diminished (the actual licences to occupy berths all expire 2083). The amount of licence rental income received that represents income to be earned in future accounting periods is disclosed in the Statement of Financial Position as being revenue received in advance.
The accounting policy for the historic sale of licence rental to occupy Marina East berths to 2083 was to recognise the entire income wholly as income in the year received.
All revenue is stated net of the amount of goods and services tax (GST).
(l) Borrowing Costs Borrowing costs directly attributable to the acquisition, construction or production of assets that necessarily take a substantial period of time to prepare for their intended use or sale, are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale.
All other borrowing costs are recognised in income in the period in which they are incurred.
(m) 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 Tax Office. In these circumstances the GST is recognised as part of the cost of acquisition of the asset or as part of an item of
Cruising Yacht Club of South Australia Annual Report for 2011/2012
30
the expense. Receivables and payables in the statement of financial position are shown inclusive of GST.
Cash flows are presented in the statement of cash flows on a gross basis, except for the GST component of investing and financing activities, which are disclosed as operating cash flows.
Where the economic entity has retrospectively applied an accounting policy, made a retrospective restatement or reclassified items in its financial statements, an additional statement of financial position as at the beginning of the earliest comparative period will be disclosed.
(o) Critical Accounting Estimates and Judgments The directors 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 based on current trends and economic data, obtained both externally and within the economic entity.
Key Estimates – Impairment
The economic entity assesses impairment at each reporting date by evaluating conditions specific to the economic entity that may be indicative of impairment triggers. Recoverable amounts of relevant assets are reassessed using value in use calculations which incorporate various key assumptions.
With respect to cash flow projections for plant and equipment based in Australia, growth rates of 2% have been factored into valuation models for the next ten years on the basis of management’s expectations. Discount rates of 10% have been used in all models.
Key Judgments – Doubtful Debts Provision Included in trade receivables at reporting date are amounts receivable from members in relation to berth sales and member accounts amounting to $11,000 (2011 - $11,000) for which a provision has been made.
(p) New Accounting Standards for Application in Future Periods The AASB has issued new and amended Accounting Standards and interpretations that have mandatory application dates for future reporting periods and which the economic entity has decided not to early adopt. The economic entity does not expect these requirements to have any material effect on the entity’s financial statements.
Notes to the Financial Statements for the Year Ending 31 May 2012
Note 2: Revenue and Other Income
Revenue - Sale of goods - Commission revenue - Corporate fees - Income - Marine Academy - Licence rental - Marina West - Income - Racing Association - Ramp income - Slipway - Member subscriptions - Other revenue Total Revenue Other Revenue Other Income - Other income
2012 $
2011 $
930,089 82,378 883,385 38,526 152,253 72,680 118,321 68,287 551,445 87,019
829,142 208,356 852,545 35,246 145,480 63,771 120,392 65,849 544,979 81,453
2,984,383
2,947,213
243,394 243,394
107,586 107,586
38 599,807 12,230 12,815
65 581,844 (23,292) 13,831
20 99,663 767,194 - 868,877
20 59,386 639,542 20,191 719,139
Note 3: Profit for the Year Expenses The operating deficit for the year has been arrived at after charging: Interest Depreciation Impairment expense Rental expense
Note 4: Cash and Cash Equivalents Cash on hand Cash at bank Short-term bank deposits Trust account
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Cruising Yacht Club of South Australia Annual Report for 2011/2012
Notes to the Financial Statements for the Year Ending 31 May 2012
Note 5: Reconciliation of Cash
2012 $
Cash at the end of the financial year as shown in the cash flow statement is reconciled to items in the balance sheet as follows: Cash and cash equivalents 868,877 Bank overdraft - 868,877
2011 $
719,139 719,139
Note 6: Trade and Other Receivables Current Trade receivables Provision for impairment of receivables
92,345 (11,000) 81,345
135,706 (11,000) 124,706
Provision for Impairment of Receivables Current trade receivables are generally on 7 to 30 day terms. These receivables are assessed for recoverability and a provision for impairment is recognised when there is objective evidence that an individual trade receivable is impaired. These amounts have been included in other expense items. Movement in the provision for impairment of receivables is as follows: Current Trade Receivables 2012 Current Trade Receivables 2011
Opening Balance $ 11,000 33,143
Charge for the Year $ - 11,000
There are no balances within trade and other receivables that contain assets that are not impaired and are past due. It is expected these balances will be received when due. Impaired assets are provided for in full.
Note 7: Inventories Current Stock on hand
60,026 60,026
45,340 45,340
Note 8: Other Assets Current Prepayments 63,395 33,294 Accrued income - 6,787 63,395 40,080
Cruising Yacht Club of South Australia Annual Report for 2011/2012
32
Amount Written Off $ - (33,143)
Closing Balance $ 11,000 11,000
Notes to the Financial Statements for the Year Ending 31 May 2012
Note 9: Property, Plant and Equipment
2012 $
2011 $
Land at valuation 6,800,000 Buildings at valuation and subsequent cost 2,037,951 Accumulated depreciation (249,119) Total buildings 1,788,832 Leased Plant and Equipment at cost 32,800 Accumulated depreciation (32,800) Total leased plant and equipment - Plant and Equipment at valuation and subsequent cost 926,962 Accumulated depreciation (418,953) Total plant and equipment 508,009 Office Equipment at valuation and subsequent cost 105,128 Accumulated depreciation (69,612) Total office equipment 35,516 Marina West at cost 8,308,666 Accumulated Depreciation (663,456) Total Marina West 7,645,210 Marina East at valuation and subsequent cost 1,929,299 Accumulated depreciation (749,783) Total Marina East 1,179,516 Total property, plant and equipment 17,957,083
6,800,000 2,037,951 (188,401) 1,849,550 32,800 (32,800) 896,827 (297,053) 599,774 98,053 (51,151) 46,902 8,308,666 (452,458) 7,856,208
1,929,299 (562,054) 1,367,245 18,519,679
(a) Assets held at valuation The Cruising Yacht Club of SA Inc The Association’s property, plant and equipment were revalued at 1 June 2007 by independent valuers. Valuations were made on the fair market value - existing use basis. The revaluation surplus was credited to an asset revaluation reserve in member’s equity. CYC (SA) Unit Trust The marina and improvements comprise all leasehold improvements formally the property of the Cruising Yacht Club of South Australia Incorporated and valued by the directors of the CYC (SA) Management Pty Limited at the time of the purchase of the land by the Trust in 1985. Units to the value of this amount were issued to members of the Cruising Yacht Club of South Australia Incorporated in accordance with the constitution of the CYC (SA) Unit Trust. The property, plant and equipment were revalued at 9 April 2008 by independent valuers. Valuations were made on the market value, existing use and depreciated replacement value. The revaluation surplus was credited to an asset revaluation reserve in member’s equity.
33
Cruising Yacht Club of South Australia Annual Report for 2011/2012
Notes to the Financial Statements for the Year Ending 31 May 2012
Note 10: Trade and Other Payables
Current Unsecured liabilities Trade payables Other payables Marina West revenue received in advance Secured Liabilities Berth deposits Total current liabilities Non-Current Marina West revenue received in advance Total non-current liabilities
2012 $
2011 $
94,568 232,026 152,253
148,261 258,122 152,253
-
20,000
478,847
578,636
5,489,686 5,489,686
5,641,939 5,641,939
93,022 34,244 127,266
82,620 37,663 120,283
43,515 43,515
49,126 49,126
592
592
6,090,600
6,098,150
27,545 6,118,737
27,545 6,126,287
Note 11: Provisions
Current Provision for annual leave Provision for long service leave Non-Current Employee benefits
Note 12: Issued Capital Settled capital 121,806 (2011: 120,321) fully paid issued units at $50 Each 27,545 (2011: 27,545) fully paid issued units at $1 Each Total
Note 13: Reserves The unit premium reserve records premiums attached to units. The asset revaluation reserve records revaluation of non-current assets
Cruising Yacht Club of South Australia Annual Report for 2011/2012
34
Notes to the Financial Statements for the Year Ending 31 May 2012
Note 14: Controlled Entities
2012 $
2011 $
The economic entity’s financial report includes the following controlled entities: Contribution to the consolidated operating surplus/(deficit) Cruising Yacht Club of SA Inc. CYC (SA) Unit Trust Less: Ramp distribution CYC Ramp Trust Less: inter-entity profit Share of controlled entities’ surplus/(deficit) after income tax
47,036 (209,031) (127,012) 127,012 - (161,995)
24,522 (203,532) (131,666) 131,666 (179,010)
Note 15: Cash Flow Information Credit Standby Arrangement and Loan Facilities The economic entity has a bank overdraft and commercial bill facility amounting to $50,000 (2011: $50,000). This may be terminated at any time at the option of the bank. At 31 May 2012, none of this facility was used (2011: $ Nil). Interest rates are variable.
Note 16: Related Party Transactions CYC (SA) Management Pty Ltd operates as trustee for the CYC (SA) Unit Trust (“The Trust”). The directors of CYC (SA) Management during the year ended 31 May 2012 were as follows: A G Corletto (retired December 2011), H J Peterson, Dr A D Saies, D J Hughes, C L Wood (appointed April 2012), W E Coonan, T J Tymons and D P Murray. All positions are held on an honorary basis. The following directors, through entities associated with them, provided goods and services during the year under normal commercial terms and conditions, to the value of: T J Tymons A G Corletto W Coonan Total
- 1,733 8,261 9,994
28,438 10,861 9,566 48,865
35
Cruising Yacht Club of South Australia Annual Report for 2011/2012
Notes to the Financial Statements for the Year Ending 31 May 2012
Note 17: Capital and Leasing Commitments
2012 $
2011 $
6,300 22,575 - 28,875
6,930 24,255 31,185
(a) Operating Lease Commitments Non cancellable operating leases contracted for but not capitalised in the financial statements: Payable - minimum lease payments: • not later than 12 months • between 12 months and 5 years • greater than 5 years
(b) Capital Expenditure Commitments No capital expenditure commitments at 31 May 2012.
Note 18: Contingent Liabilities A bill discount line is provided to CYC (SA) Management Pty Ltd as trustee for the CYC (SA) Unit Trust. Cross guarantees in support of the facility have been provided over the non-current assets of CYC (SA) Unit Trust. As at the 31 May 2012 $nil was drawn down on the bill facility (2011: $Nil). A bank overdraft facility of $50,000 is provided to the Cruising Yacht Club of SA Inc., which is secured by an unlimited interlocking guarantee from CYC (SA) Management Pty Ltd as trustee for the CYC (SA) Unit Trust and CYC Ramp Pty Ltd as trustee for the CYC Ramp Trust. The facility was drawn down to $Nil at 31 May 2012 (2011: $Nil).
Cruising Yacht Club of South Australia Annual Report for 2011/2012
36
Notes to the Financial Statements for the Year Ending 31 May 2012
Note 19: Hire Purchase Agreement The Minister of Transport has leased the Port Vincent Basin to the District Council of Yorke Peninsula for a term of 99 years from 1 May 2003. The council has agreed to underlease that portion of the Marina Basic on which the Marina is situated to CYC (SA) Management Pty Ltd for a nominal rent ($1.00 per annum if demanded) for a term of 99 years less one day commencing 1 May 2003. CYC (SA) Management Pty Ltd has underleased the area it is leasing to the Cruising Yacht Club of South Australia Inc. (the “Club�) for the same nominal rent and on the same terms and conditions for a term of 99 years less 2 days commencing 1 May 2003. The lease is of the land without the infrastructure. The infrastructure has been separately acquired from the developer Paradise Developments (Investments) Pty Ltd. The Club has acquired the infrastructure pursuant to a hire purchase agreement to which each hire instalment was paid when the Club sold a rental licence to occupy a berth to a Club member and CYC (SA) Management Pty Ltd issued units in CYC (SA) Unit Trust to a value, which in aggregate, equalled the hire instalment amount. CYC Ramp Pty Ltd, as trustee for the CYC Ramp Trust, has leased the Western Marina Basin to CYC (SA) Management Pty Ltd, as trustee for the CYC (SA) Unit Trust, for a term commencing on 1 November 2008 and ending 31 October 2083, at the same rent. The lease is of the land without the infrastructure. The infrastructure has been separately acquired by the Cruising Yacht Club of SA Inc. from the CYC Ramp Pty Ltd, as trustee from the CYC Ramp Trust. The Club has acquired the infrastructure pursuant to a hire purchase agreement to which each hire instalment is paid when the Club sells a rental licence to occupy a berth to a Club member and CYC (SA) Management Pty Ltd issues units in CYC (SA) Unit Trust.
Note 20: Segment Reporting
Note 21: Key Management Personnel Compensation (a) The table below summarises in aggregate the remuneration of all senior management personnel of the Cruising Yacht Club of South Australia Inc.
Salary $
Superannuation contributions $
Non-cash benefits $
2012
128,134
11,639
1,184
2011
124,191
11,177
832
Note 22: Events after the Balance Sheet Date Nil
Note 23: Entity Details The registered office of both CYC (SA) Management Pty Ltd and CYC Ramp Pty Ltd associated companies is: Cruising Yacht Club of South Australia Inc., Lady Gowrie Drive NORTH HAVEN SA 5018 The principal place of business is: Cruising Yacht Club of South Australia Inc., Lady Gowrie Drive NORTH HAVEN SA 5018
The economic entity operates predominately in one business and geographical segment being in the leisure sector providing social facilities to Members of the Club in South Australia.
37
Cruising Yacht Club of South Australia Annual Report for 2011/2012
The Cruising Yacht Club of SA Inc and Controlled Entities Statement by the Board of Management In accordance with a resolution of the Board of Management of the Cruising Yacht Club of SA Inc. in the opinion of the Board of Management: 1.
The financial statements and notes, as set out on pages 23 to 37, present fairly the economic entity’s financial position as at 31 May 2012 and its performance for the year ended on that date in accordance with Australian Accounting Standards (including Australian Accounting Interpretations); and
2
In the Board of Management’s opinion, there are reasonable grounds to believe that the Cruising Yacht Club of SA Inc. will be able to pay its debts as and when they become due and payable.
This declaration is made in accordance with a resolution of the Board of Management of the Cruising Yacht Club of SA Inc.
President Director - Cruising Yacht Club of SA Inc. - CYC (SA) Management Pty Ltd - CYC Ramp Pty Ltd
Treasurer Director - Cruising Yacht Club of SA Inc. - CYC (SA) Management Pty Ltd - CYC Ramp Pty Ltd Dated this 21st day of July 2012
Cruising Yacht Club of South Australia Annual Report for 2011/2012
38
Detailed Profit and Loss Account for the Year Ended 31 May 2012
Income Commission - resold berths Commission - leased berths Entrance Fees Groundswell Income Hire of equipment Hull identification Income- Racing Association Income - Marine Academy Income (net) – Functions Interest Licence fees - Marina West Corporate Fees Net trading margin - catering, bar & resale Ramp Income Slipway Member subscriptions Other income Profit on sale of assets Total Income
2012 $
2011 $
28,723 53,656 7,548 31,760 8,356 1,334 72,680 38,526 19,489 55,791 152,253 883,385 69,291 118,321 68,287 551,445 146,153 - 2,306,998
Less Expenses Accounting fees 3,488 Advertising 39,715 Annual report expenses 10,260 Auditors remuneration Previous auditor – audit costs 2009/2010 - Previous auditor – tax return costs 2,400 Current auditor – audit costs 2010/2011 - Current auditor – audit costs 2011/2012 19,050 Current auditor – preparation of financial statements 2010/2011 - Current auditor – preparation of financial statements 2011/2012 8,240 Disbursements and out of pocket expenses 782 Bank charges 18,580 Cleaning 21,314 Computer expenses 42,333 Consulting and professional fees 20,072
39
157,030 51,326 12,650 24,763 7,500 2,951 63,771 35,246 11,196 50,211 145,480 852,545 79,128 120,392 65,849 544,979 22,161 2,247,178
503 30,891 8,220 691 18,500 8,000 331 19,709 13,837 37,891 109,744
...continued over page
Cruising Yacht Club of South Australia Annual Report for 2011/2012
Detailed Profit and Loss Account for the Year Ended 31 May 2012
Less Expenses (continued) Depreciation Fees and Permits Finance costs - external General expenses Groundswell expenses Ice expenses Insurance Internet Impairment expense Landscape maintenance Lease rentals on operating lease Loss on sale of fixed assets Long service leave Marina - repairs and maintenance Marine Academy expenses Member proposals Meeting expenses Motor vehicle expenses Other association expenses (net) Payroll tax Port Vincent general expenses Postage Power and light Printing and stationary Rates and taxes Racing Association expenses Repairs and maintenance Salaries Security costs Staff training Subscriptions Superannuation contributions Telephone and fax Toiletries Uniforms Waste disposal Workcover expense Total Expenses Operating Surplus/(Deficit)
Cruising Yacht Club of South Australia Annual Report for 2011/2012
40
2012
2011
$
$
599,807 9,961 38 13,681 29,013 1,993 79,239 3,365 12,230 7,677 12,815 - (9,030) 158,536 30,195 12,500 - 13,357 3,122 27,714 4,955 17,867 81,449 19,030 95,074 63,060 123,050 642,873 32,987 2,073 26,395 91,063 20,627 47 12,023 15,100 28,861 2,463,437
581,844 12,231 65 14,978 28,693 1,259 79,585 4,235 (23,292) 14,721 13,831 14,317 161,826 24,613 20,068 10,804 (5,261) 17,098 4,623 13,389 69,391 32,040 114,839 70,649 86,046 566,552 52,959 1,629 32,253 83,542 21,135 3,358 8,391 16,422 29,039 2,426,188
(161,995)
(179,010)
CYCSA Vessel Register Name of Vessel
Reg. No.
Owner(s)
Berth No.
Academy 1
YC586S
Cruising Yacht Club of SA
Acclaim
BR257S
Robert Dawes
A20
Achtung Baby
CI214S
Don Venn
J18
Acrux
YC314S
Steven Tonkin
HS49
Adagio
SA910S
Stephen Siebert
B22
Adamas
YC216S
Chris Newton
Adelaide Diving
Steve Slack
C31
Adinda
YC276S
Stephen Pearson
C08
Adrenalin
EE178S
Adriano Cisternino
HS109
Adria
YC931S
Claude & Val Marchesi
A24
After Dark
UI115S
Hans Fischer
A45
Aimless
ZI153S
Gordon Inglis
A40
Akt III
YC644S
Jack Didyk
Alby 1
UI126S
Albino Miotto
Alchemy
Anthony Palmer
Ali Tap Tap
CZ154S
John McFarlane
Alicante Encore
MJ65S
Frank Wood
C07
VA02
Allegro
Mal Kamenjarin
Allemanda
SA270S
Bill Harniman
B33
Alliance
YC394S
Laurie Hallion, James Hallion, Bevan Thompson, Linda Hart
D20
Alpha Centauri
YC258S
Roger Flint
D11
Alternative Therapy
YC804S
Michael Lane
HS86
Amazing Grace
YC126
John & Janet Den Dryver
C35
Amazing Grace
AUS4457
Angus Middleton
HS14
Andante
Geoff Gowing & Tess McGrath
B04
Andiamo
YC208S
Peter Fairbrother
D29
Anescape
BS228S
Ross King
J10
Angus 100
ABY892N
Andrew Figtree
Anna-Bella
YM07S
Renzo Bonini
HS15
Annadora III
ER186S
Lester Cornall
A37
Another Planet
YC521S
Brenton & Tracey Pegler, & Alan Hambly
C17
Anouk
SI168S
Ashley O’Brien
A05
Antipodes
ZG132S
John Culshaw
J03
Apache
Jeff Elsegood
Aquila
YC241S
Mark Johns
A17/A18
Arabella
YC678S
Hans Hol
C06
Arcadia Bay
RZ91S
Kevin McCann
Argo III
HE40S
Trevor Kipling
Aries
YC341S
David Coats
Armed And Dangerous
HS82
Peter Freeman
HS30
41
Cruising Yacht Club of South Australia Annual Report for 2011/2012
CYCSA Vessel Register Name of Vessel
Reg. No.
Owner(s)
Arra Warra II
YC527S
Warwick Lumbers
Arriba
ZY110S
Alan Noble
K09
A-Salt Weapon
AY 234S
Wright Danz Family Trust
HS145
Asylum
YC10
Derek Morrison
C15
Atomic
YV111S
Mark Podlewski
F33
Avilion III
VW195S
Darren Slaby
B Free
Romeo Macolino
Back Friday
YC317S
Chris Wood
E09
Backward Glance
HV161S
Bill Coutts
HS123
Bad Company
QY54S
Bob Westlake
Balamara
SA155S
Marjorie Smoker
B08
Baloo
RF160S
John & Margaret Grevins
A03
Banjo
YC71S
Wil Maybury
Baron
YC345S
Gilbert Calaby
Bedouin
YC691S
Greg Patten
B29
Bella Mia II
YC688S
Dominic Rinaldi
A28
Beluga
YC561S
Graham Phillips
E19
Benedetto
YC405S
Clive Lee
Benetta
2775QF
Vincent Barry
C39
Bethany
WY182S
Barry & Libby Clough
HS42
Bewinched
Michael Davey
Billbuster
YC116S
Martin Cross
Binburra
DY1635
Lindsay Stanley
VC66
Black Cat
DX460
Aaron & Kirsty Low
HS71
Black Swan
EC166S
Trevor Raines
E33
Blu-By-U
YC909S
Albert Vos
Blue Horizon
YC980S
John Harry
Bluewater
Humphrey George
BoBo
Tamara Saunders
Bogebada
YC451S
John Bolt
J06
Bolero
SA995S
Ian Neville
A12
Bonny June
WP152S
Neville Wills
Born to Battle
Peter Teakle
Boston Whaler
Ben Wilson
Bourse 2
David Paterson
ZT170S
Brief Encounter
Gary Brown
D38
Brigadoon
YC445S
Geoff & Louise Wiggins
D03
Buddy Bouy
YC508S
Adam Laube
A42
Bullistic
YC1200
Tony Hansen, Paul Martin & Richard Royans
C30
Bunburra
DY163S
Lindsay Stanley
Cruising Yacht Club of South Australia Annual Report for 2011/2012
42
CYCSA Vessel Register Name of Vessel
Reg. No.
Owner(s)
Ca Va!
VT115S
Dominic Crosby
F06
Cabaret
SA99S
Alan Cotton
B06
Caleb
PY109S
Samuel Matthews
HS51
Capricorn
AU202S
Rod Herbert
Capricornia
Rob Keith
Carbon Footprint
YF139S
James Edwards
Carioca
YC762S
Craig & Beth Hutton
F19
Carpe Diem
ZQ108S
Vadis & Julie Rodato
F09
Carrapateena Joy
YC818S
Rudi Gomez, Darren Hoppe
Catalyst
VV173S
Keith & Susan Langley
C-Charmer
GA169S
Charlie Tomeo
A43/A44
Celebrity
UC193S
Richard Pope
B24
Champ
YC545S
Tom Tymons
C32
Champagne
YC77S
Jim & Lynn Keogh
Chardonnay
SA73S
Andrew & Patricia Alexander
Charlie Brown
KX120S
Henry Brown
Charlie’s Dream
VL060Q
Peter Lewis
Chikara
Robert Cole
Chill’n
Neil Stennett
WL133S
Clallapor
John Adams
Claytons
Y0177S
Clayton Peake
Committed
BS126S
Tim Hearse
Compass Rose
CG191S
Ian Short
Compulsion
JM88S
John Gibson
Content
ZM169S
C19
Craig McCarthy
D28
Cookie Monster
Brian Walsh
HS08
Coroona
YC265S
Slavko Radisic
Counting Stars
YC843S
Graeme & Carolyn Wilson
C25
Crackerjack
QK109S
Peter & Pat Thompson
C01
Cuddy Cab
RX1485
Daren Ellis
CYC1
YC206S
Cruising Yacht Club of SA
CYC2
YC02S
Cruising Yacht Club of SA
CYC3
YC03
Cruising Yacht Club of SA
Cygnet
YC28S
Mark Flanagan
Cygnus II
ZH122S
Owen & Delia Mace
Damp Fantasy
Len Easther
Day Star
YC118S
Charlie Paterson
Days Like This
XF115S
Maxine Timbs
Decanter
OF169S
Breck Waterman
Delilah
ZH133S
Wayne Briancourt
HS78 C28 F31
43
Cruising Yacht Club of South Australia Annual Report for 2011/2012
CYCSA Vessel Register Name of Vessel
Reg. No.
Owner(s)
Delphis
YC280S
Mark Robertson
Demalone
Malcom Dunn
Distraction
XB192S
Richard Channon
D34
Dixie Mirage
BD287S
Lincoln Wood
HS60
Double Cross
YC520S
John Nicholls
Doyen
YC660S
Malcolm Kitto
B21
Dr Feelgood
YC550S
Wayne Coonan
HS107
Driftwood
YC446S
Ray Tonglee
F01
Dynasty
6944
Colin Burgin
East Of The Lizard
QL152S
James Cameron
Eclipse
TS04
Brenton Caffin
Eclipse
NZ749
Bill Lunn
Edie
GA952
Peter Kikianis
Elandra II
YC296S
Daryl Coad
HS138
Elation
SP105S
Robert Becker
HS149
Electra
YC62S
Malcolm Pearsons
HS103
Electra II
BL261S
James & Tim Sarah
B34
Elisa Jane
XD155S
Ian Naismith
M04
Elysium
YC528S
Jim Heyen
Emma
V0163S
Charles Young
Emma Grace
TBA
Geoff Atkinson
Enigma
YC410S
Eddy Sain
Enterprise
SA758S
David Binks
Equanimity
YC344S
Len & Libby Stephens
Erkonda
HV123S
Eric Webb
Erzanmine
BD280S
Mark & Bel Harper
HS21
Exile III
YC46S
Nick George
B20
Exit
YC67S
Mark McCutcheon
HS40
Far Star
YC162S
Royce & Delene Nicholls
D26
Flamingo
KW108S
David Evans
F21
Flying Circus
Stephen Power
HS70
Flying Cloud
QLDSF162Q
Reid & Holly Toogood
Flying Duchess
OL641Q
Guy Ludbrook
Foolish Behaviour
QB165S
Guy Wogan-Provo
Force Majeure
YC320S
Don & Judy Guy
Foxtrot
IEU5053
Dan O’Connell
Foxy
YC240S
Derek Morrison
FPV Ganet
PIRSA Fishwatch
Free Spirit
LP155S
Geoff Sincock
Freedom
YC123S
Trevor Collinson
Cruising Yacht Club of South Australia Annual Report for 2011/2012
44
VB28 D13
F29
M03
HS38
B19
CYCSA Vessel Register Name of Vessel
Reg. No.
Owner(s)
Freedom Blue
YC100S
Pat Conroy
Freelance
YC573S
Dean Stevens
French Bred
YC470S
Peter French
F36
Freo Buoy
YC255S
Terry Lockwood
HS143
Fresh Eyre
QW137S
Brian Marsh
HS64
From Russia With Love
B3007
Richard Lea
A30
G Wizz
YC690S
Greg Patten
B11
Galatea
PA292S
Alan Husdelll
F26
Game Dancer
GF11S
Ray Brown
E17
Game Over
YC245S
Julian Newton
HS84
Gas Bag
SM34S
Bronte Allen
Genovus
YC421S
Peter Newmarch
B32
Geordie Bay
YC107S
Rowland & Glenyss Richardson
F28
George Lisk II
LB02S
Largs Bay Sailing Club
HS134
Gerry-K II
AT216S
Chris & Geraldine Cox
B18
Ghost
BJ208S
Alex Zimmerman
Gibbos Retreat
YC760S
David Gibbons
Gin Rummy
ON852424
Ian McBeath
Gladiator
YC855S
Jim & Glenda Smyth
K03
Glenn Robert
BY271S
John Whelan
F30
Good Company
JJ24N
Robin Townsend
HS35
Good Vibrations
YC203S
Barrie Willoughby
D35
Graddy-White
ST156S
David McMahon
Group Therapy
JI178S
Rick & Glenda Hausler
E32
Gypsy Æ
YC406S
Geoff Blackwell
F15
Gypsy Flyer
YC808S
Geoff Harris
Hadd ‘E’ Nuff
ZD137S
Alby Clark
F22
J02
Hakuna Matata
Clive Butler
Halcyon
ZB1168
David McDonough
Hang Loose
YC339S
Des Maslen
Hannah Georgia
MS120S
Frank Agostino
Harbinger
YC232S
David Southwell
HS121
Harmony
YC945S
John Pannell
HS112
Harvest Moon
TBA
Kim Byars
B15
Hawk
TC580S
Joe Walker
Hay Wire
GR240S
Ken Schilling
B17
HS16
Hey Jude
Don Guy
Hold On!
YC380S
Peter Page
J07
Hot Chilli
Y0161S
Ric Gros
HS146
Hot Mustard
FA83S
Marty & Jacq Heffernan
C13
45
Cruising Yacht Club of South Australia Annual Report for 2011/2012
CYCSA Vessel Register Name of Vessel
Reg. No.
Owner(s)
Idle Time
827777
Ron Stennett
Ikati
YC744S
Peter Headlam
F11
Imago
QX471Q
Craig & Pauline Rooney
C42
IMPI
WJ171S
Grant Winn
A04
Impulse
YC27S
Peter Sawczuk
A11
Impulsive
EV106S
Ray Dowd
HS29
Intimidator
SB2310
Brian Baldwin
C22
Intrigue
YC593S
Geoff & Sylvia Common
Isis
SA63S
Jonathan Harry
D22
Isis Blue
YC888S
Tim Marsh
F24
Islander
GF08S
Graham Cotton
Isobar
GF385S
Norfried Tischendorf
C40
Its All G
Paul Mills
D36
Jadashaye
YC996S
Russell Bianco
Jag
YC337S
West Wins Boat Syndicate - James Leahy
Jai Cee
GF101S
John Werner
F10
Jenny Anna
Russel Phillipson
Jenny Maree
YC235S
Howard Murton
Jigsaw
NW198S
John Daniels
C12
Jocelyn
FW600Q
Mark Venable
VC51
Julia
YC326S
Richard Harries
D16
Jumbuk
VM189S
Mark Mussared
Jumpin Jack Flash
YC238S
Doug Watson
Jupiter
YC294S
Kevin Hill
Karma
RL485S
Craig Westlake
Kashmir
YC304S
Gregory Yeomans
Kassan
UU101S
Carol Drummond & Michael Johnson
Katerina
DN686Q
Joe Cirillo
Keep’n Kool
RZ120S
Bob Turco
Kena
YC357S
Nick Perdelis
Kettwig
SA747S
Klaus Becker
Kiama
NL94S
John Marshall
B05
Kinetic Energy
YC360S
Andy Shipp & Les Smith
E28
King Rat
YC631S
Dave Bainbridge
HS04
Kiwa
SA210S
Lloyd Sugars
D30
Knot Too Shabby
AT286S
Bernie Kasza
A31
Kudos
YC393S
Vlad & Pam Humeniuk
D14
Kudu
YC351S
Robert Cole
La Ragazza
NE782S
John Heinrich
La Vie
YC286S
Don Burrow
Lady B
Eddie Biggs
Lady Christine
DZ132S
Simon Giessauf
Lady J
KW148S
HS25
D19
C24
E02
Sir Eric Neal AC CVO & Lady Neal AM
N03
Lady Lorraine
Ken Andrews
HS125
Lady M
Kim Charlton
C03
AV2465
Lamb Chop
Charlie Nott
Largs #2, Largs #3, & Largs #4
Largs Bay Sailing Club
Largs Bay
VO188S
David Urry
Lark 2
YC78
Robert Jones
Le Poisson
AUS116
Tim Cowen
Lemonade
WC111S
Clive Ragless
Liberator Australis
YC717S
Geoff Catt
Cruising Yacht Club of South Australia Annual Report for 2011/2012
46
HS135
D25
CYCSA Vessel Register Name of Vessel
Reg. No.
Owner(s)
Liberty
YC290S
Robin Wood
D40
Liquid Assets
YC555S
Graham Meyers
D24
Liquid Limo
BB269S
Robert & Natalie Turco
C27
Lisi
SB4935
Bruce Whittem
Lizzie Too
KQ138S
Peter Lehman
VA03
Locomotion
YC295S
Peter Hall
A23
Lucky Star
YC105S
Brett Yardley, Rod Wenham, Peter Hendy
A27
Lutzy
DN249S
Anthony Cullen
Lymnea
AA37S
Gareth Thomas
Madtack
XF122S
Mark Emmett
HS53
Magnum
YC537S
Jim Heyen
F35
Maid Of Wood
LQ187S
Alan Moss
HS46
Majessnik
SW1165
Russell Bianco
B16
Mania
GZ130S
Eugene Maroulis
Marcella
PY107S
John Gill
D01
Marina Tide
AY155S
George Smith
VA09
Marnico
YC61S
Graeme & Gay Footer
B12
Martine
J425
Robert Jones
Matador
YC121S
Mike & Morag Draper
Matilda Bay II
YC403S
Terry Nicholas
Maximus
SA607S
Frank Bamford
Medosa
VY111S - 1509216
A10
Brian Smith
F37/F38
Merlin
Simon Gerard
B03
Metapassion
PN137S
George Rutar
C38
Midlife
DH240S
Susan Coomber
K05
Midnight Blue
YC168S
Leon Cowley
A34
Milonge
AA295S
Ivan Lebedev
HS56
Minnon
YC3600
Joe Mezzini
E29
Minouche
YC126S
Alan Warnes
A16
Minuet
IN172S
Peter Littledike
Miros
YC08S
Michael Sigston
Miss Lou
ST146S
Tony & Mary Norman
Mistral
O635Y
Noelene Westlake
Moonlight Lady II
YC900S
Simon Jenkins
A39
Moonlight Sonata
TS05S
John Swift
HS79
Moonwind
HN85S
Dean Adams
HS96
Morning Mischief II
JI133S
Richard Cavill
B10
Mr Moustache
854965
Mark Jenkinson
Mult-E-Biz
VL185S
Theo & Heather Agelis
Murray Pest
KH140S
Peter Scott
47
Cruising Yacht Club of South Australia Annual Report for 2011/2012
CYCSA Vessel Register Name of Vessel
Reg. No.
Owner(s)
Mustang Sally
AZ207S
Bob & Noelene Westlake
My Way
Michael Elliott
VA13
Namche
VN156S
Dave Henderson
D08
Narissa
QG100S
Philip Rundle
A26
Naughty Black Shorts
CB22
Caroline Cowen
Nautical Dog
VK134S
Robin Chase
Nefertiti
YC513S
Peter Thomson
C33
Nellie Myra
YC106S
Trevor Mudge & Jane Ferguson
J09
Nellie Rose
ZM173S
Doug LeFeuvre
VC61
Nightwatch 1918
RF180S
Allan Homes
F23
Nikki Dee II
Eddie Dubsky
Nissap PS730
Adrian Wait
TBA
No Eye Deer
Trevor Conyers
Noah
Mark Lunn
RF195S
Obsession
Con Koulouris
Obsession
David Pilling
Ocean Sunrise
C/- David Nelson, Pembroke School
Odette
QE104S
Steve Lewis
Off Spring
UJ169S
Andrew Young
Oh Really!
GR24S
Mike O’Reilly
Oki
PH104S
Phil & Sandra Richards
Old Nick
S213
Craig Thomas
Omega
1536047
Dominic Rinaldi
One Song
RB060Q
Bob Barreau
HS07 M07 HS124
E23
Ontos
Steve Nogare
Ophelia IV
YC164S
Robert Gerard
Options
YC103S
Edi Mignone
E01
Osprey
BA105S
Laurie Steele
HS74
Osprey
KP195S
Joe Walker
Outrageous
AT17S
Phil Newton
C10
Outrageous Fortune
John Wood Jnr
Outrage-Us
AUS815
Gary Shanks
Outside Chance
DV114S
Chris Butcher
D23
Overdraught II
YC06S
Tony Matthews
E25
Pago V
ID119S
Kerry Mangos
Pandora II
355918 / KR369N
Graeme Critchley
Paradox
SA605S
Adam Kretschmer
Parfidia
YC844S
Richard Ockenden
C04
Patience
Trevor Burns
VA21
Patrice IV
Garry Tucker
C18
YC271S
Cruising Yacht Club of South Australia Annual Report for 2011/2012
48
CYCSA Vessel Register Name of Vessel
Reg. No.
Owner(s)
Peggy Sue
NV136S
Michael O’Reilly
Pepa
KZ77S
Peter Japp
A02
Phantom
EV159S
Ken Amos, Judith Yarwood
B26
Pineapple Poll
WU117S
Peter Went
D31
Platypus
Tom Crabb
F02
Playmate
ME46S
Neil Toseland
HS85
Playstation
YC503S
Keith Degenhardt
B27
Plunder
John Spalvins
Poppy
KR912N
Michael Phillips
B25
Portia
YC230S
David Murray
C21
Portofino
TBA
Tim Vreeker
E12
Praha II
YC415S
John Rynes
F08
Prime Time
YC23S
Rod Rebbeck
Prisana II
DQ149S
Jeff Elsegood
Prowler
QL149S
Robert Lefort
E30/E31
Public Enemy
5842
Steven Marshall
HS41
PV Southern Ranger
PIRSA Fishwatch
L06
Qi Ki
Rick Jackson
M01
Quartet
SA452S
Andrew Pow
A25
Questa E’la Vita
IO124S
Karl Strazdins
E10
Quo Vadis
PC119S
Ian Collins
A22
R U 4 Reel
YC443S
John & Jenny Wilson
Rafantell
YC281S
Mark Lethbridge
Rag Doll 2
ZR1455
Sergio Bordignon
Rapid 1
YC477
Keith Finch
Rayanna
YC468S
Ray Baddeley
Reflections
BA836
Stephen Turner
HS83
Refresh
YC575S
Barry Paterson
A38/HS76
Regent Sea (TAFE SA)
AQ149S
David Royle
HS104
Riot III
YC31S
Antony Simpson
Riptide
IS36S
Greg Otto
Rockholme
AP119S
Brooke McLeay
Rozanna
CY109S
Yaroslav Bojko
S CAPE
YC134S
Craig & Louise Bates
D09
Sachan
YC442S
Kevin Mann
D15
Sagittaire
YC435S
Clifton Collard
C20
Sandcastle
YC305S
Mark Hentschke
D17
Sans Souci
XE136S
Jason Squire
Santana
YC316S
David Partington
Sapphire
YC183S
Daniel Hains
A48
F03
F05
49
Cruising Yacht Club of South Australia Annual Report for 2011/2012
CYCSA Vessel Register Name of Vessel
Reg. No.
Owner(s)
Sapphire
Martin Sutton
Sara II
YC24S
Craig Westlake
Sari
YC510S
Tom Crabb
Sasha
YC173S
Robert & Ute Elliott
D04
Scallywag
YC84S
Tom McDougall
F16
Scarlett S
PL483Q
Paul Goodman
School’s Out
YC757S
Adrian Wotton
M05
Scooter Too
YI153S
David Simons
J12
Scorpio
YC271S
Garry Tucker
Scotch Mist
AC131S
Andrew Van Arend
VA01
Sculptor
PX149S
Michael Keough
C14
Sea Dragon
HW168S
John Holland
F27
Sea Dream
YI131S
Peter John
VC50
Sea Eagle
TZ36S
Michael Carson, John Carson
A49
Sea La Vie
YC114S
Ernst Vreugdenburg
E14
Sea Lark
RL46S
Michael Wilde
F32
Sea Scout
Mal Kamenjarin
Sea Vixen
QX198S
Alistair Cavill
HS92
Secret Mens Business 3.5
YC3300
Geoff Boettcher
B13
Seduction
YC338S
Mark Williams, Marilyn Kopp
D18
Selkie
YC386S
Chris & Rosalie Morphett
D05
Sequana
NZ192S
Malcolm Ramsay
Serenade
YC445
Greg Jaunay
Serendipity
EN146S
Travis Richter
Serene
BP13S
Ray McPherson
C02
Serenity
YC540S
Peter & Barbara Page
B07
Setanta
YC18S
Gerard Hughes
E13
Shilo
PL10S
John Knispel
A07
Shining Sea
YI142S
Andrew Corletto
E04
Shiraz
John Klunder
C16
Shiraz
YC99S
Christopher Russell
Shooting the Breeze
YC190S
Rob Harrison
Short Circuit
VG171S
Peter Jordan
Shuna
F34
Peter Thomson
Silver Cloud
YC388S
Steve Standen
E16
Silver Dolphin
YC700S
George Bobaly
A06
Sir Les
VU163S
Ian Patterson
D06
Sirocco
YC825S
Henry Garner
C05
Smack-L-Bee IV
GN162S
Paul Crawford
Smurfette
SK196S
Michael Clark
Cruising Yacht Club of South Australia Annual Report for 2011/2012
50
CYCSA Vessel Register Name of Vessel
Reg. No.
Owner(s)
Snagol
AEG828N
George Wilson
E21
Sojourn
ZK125S
Sam Tolley
C42
Solarno
PZ76S
David Catherwood
Sole Trader
LQ142S
Ross Almond
Solitaire
YC248S
Graham Norman, Dennis Buchan
A33
Sooner Or Later
IF31S
Guy Bayly
C37
Southern Conway
YC401S
Stuart Henry
Spartacus
YC38S
Peter Trembath
Spectrum
UW42S
Thomas Abbott
Spirit of Lexus
Michael Keough
Splendido
C26
Peter King
Splice
X0149S
Mal Kamenjarin
Steeletto
VK128S
Peter Middleton
Stephanie
YC752S
Roy Wells
Stockcar
RU188S
Dave Hughes
HS87 C26 A21 HS45
Stormy Waters
Michael Davey
Stunned Mullet
SA323S
Stuart Kilner
Such Is Life
TT189S
Dave Nicolson
HS95
Sugar ‘n’ Spice
YC601S
Robert Perrin
E18
Summer Breeze
YC129S
Kevin Cook
Suzanne
YC90S
Don Howell
Synergy
Jamie Goode
Synergy
YC161S
C34
Mal Hutton
B14
Syrah
Peter Sadler
F18
Tangaroa
SA284S
Jim Raptis
B28
Tanshee
UV80S
John Simmons
Tarni Warra
Ian Shaw
VD84
That’s Life
YC447S
Greg & Judy Manuel
B30
The Business’
YC56S
Chris Hansen
D12
The Gap
TG192S
David Donovan
HS91
The Ghost Of Xmas Past
YC192S
David Ketteridge, Michael Ketteridge
HS02
The Gnome
Michael Keough
The Gun II
Len McIntyre
The Reel Thing
QM191S
Wayne Palmer
The Tardis
SA838S
Helen Prisk
The Tern
YC789S
David Flockhart
Third Time Lucky
SS156S
Andrew McMahon
Thresher
GF111S
George Flourentzou OAM
K15
Tiarnie
YC355S
David Everett
A29
Time
WV107S
David Allott
E22
D39 A36
51
Cruising Yacht Club of South Australia Annual Report for 2011/2012
CYCSA Vessel Register Name of Vessel
Reg. No.
Owner(s)
Time - Out
DL241
Peter Holdt
E20
Tirriki
SA40S
Mark Charlesworth
B09
Top Deck
YC244S
Thomas Muecke
Top End
SA85S
Rob Clampett
B23
Touche
YC710S
Bob Catley
HS99
Trinacria
YC149S
Rod Hunter
D27
Triple 888 Eight
Gordon Pickard, Stephen Norris
L01
Triple H
Henry Petersen
HS69
Trophy
Jason Deckers
A46
Trophy
CF279S
Stephen Madaras
A35
True Blew
HK591Q2
Patrick Conroy
F04
Twelfth Night
YC32S
Peter Lucas
D33
Twilight
YC287S
Colin Burgin
Two True
YC402S
Andrew Saies
SG176S
Ubique
Garry Golding
Vagabond
Hillar Puvi
YC461S
Vagabondo
Graeme Bignell
Vagrant
NT19S
Richard Smart
Vasa
YC11S
Peter Zemitis
Veloce
ON853394 / KP329Q
Steve Perkins
D02 C41 B36
Venture
Grant Nykiel
Viva
MD195S
Andrew Carney
War & Peace
SA305S
Ecio Marcel, Stefan Marcel
F17
Warrior
YC88S
Gary Bunn
HS23
Water Rat
ZR73S
Wally Rantanen
Waters Edge
YC723S
Graham & Julie Patterson
A19
Waterwitch III
YC117S
Patricia & Fred Fuller
F25
Wayfarer I
Russell Spier
Wedge Tail
QS185S
Cliff Presly
F20
Weemac
IY125S
Walter McDonald
HS19
White Mischief
PS 19
Ken Ramsbottom
Whittley Sea Legend
UO193S
Wayne Trott
Wild Honey
SM33S
David O’Leary
Wind Torque
VI23S
Gordon Penner
Woftam
UY23S
Paul Phillips
Yarramara
YC263C
Bruce McFarlane
Yorke
VR39S
Robert Sprod
Young Einstein
YC880S
Rob Moore, Rob Sellick, Peter Smith
Cruising Yacht Club of South Australia Annual Report for 2011/2012
52
HS142
HS32
Club Sponsors
Front cover photo courtesy of Greg Pratt
The CYCSA thanks its major sponsors for their support during 2011/2012: Racing Fishing Cruising Phil Hoffmann Travel Custom Cartons Charlesworth Nuts Port River Marine Cummins Yalumba R Marine South Australia Penfolds Maritimo Adelaide MUSTO Canegrass Saltbush Lamb Sportsmed.SA EverettBrookes Custom Jewellery Vislex The Stag Hotel Doyle Sailmakers
Text pages photos from Club members’ contributions, including professional photographers Greg Pratt, Brenton Pegler, Glenn Hawke, Gerry Colella and Sarah Lawrie.
Club Corpor8 It Solutions
Membership as at 31.05.2012
Life 5 Honorary 11 Foundation 24 Senior 517 Pt Vincent Senior 46 Member 159 Racing 255 Associate/Family 66 Intermediate 5 Junior 41 Total 1134
Back cover photo courtesy of Jacq Heffernen Inside front and back cover photo courtesy of Craig Evans
Graphic design by Trevor Paynter Printed by Reflex Printing Cover image: Bullistic (Tony Hansen, Paul Martin and Richard Royans)
CRUISING YACHT CLUB OF SOUTH AUSTRALIA
2011 – 2012
Cruising Yacht Club of South Australia Inc. Lady Gowrie Drive North Haven South Australia PO Box 1020 North Haven SA 5018 Telephone:
08 8248 4222
Facsimile:
08 8248 5888
Email:
reception@cycsa.com.au
Web:
www.cycsa.com.au
annual
r e p ort