2013 Annual Report by Glenelg Golf Club

2013 Annual Report Glenelg Golf Club Incorporated ABN 94 199 789 857

FRONT COVER COLLAGE Highlights from 2013 (clockwise from top left) The Brewster Brothers concert; Night Golf event; Women’s Grade 1 pennant success; Club Ambassador & Captain ‘s Lunch guest speaker, Brenton Sanderson; 2013 US Masters champion, Adam Scott; A family friendly club - The Tuohy Trophy family foursomes champions, Leigh & Geoff Attenborough; new reciprocal club, Cruden Bay in Scotland.

Our Mission

Our Goals

To provide members with a quality golf course and facilities, a friendly environment and the opportunity to enjoy their golf.

To ensure the Clubâ&#x20AC;&#x2122;s financial strength to meet its short, medium and long term goals without calls on members

Our Vision To be recognised by members and the golfing community as providing the best overall package of golf course, service and facilities in South Australia and ranked among the best in Australia

To develop an environmentally sustainable golf course distinguished from other championship courses by unique characteristics and recognised as among the best in Australia To provide outstanding value and service to members and guests To foster a sense of belonging and pride amongst members and improve the profile and reputation of the Club To promote the enjoyment of golf and the enhancement of skill through a competition program which meets the needs and expectations of members of all skill levels and interests

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Office Bearers CAPTAIN Mr Anthony Martin VICE CAPTAIN Mr Gavan Fox PRESIDENT Mr Geoff Gitsham VICE PRESIDENTS Mrs Helen McMutrie Mr John Rawson COMMITTEE OF MANAGEMENT Mr Paul Duregon Mr Brett Jarrad Mr Sam Koukourou Mrs Kay Nyland Mr Bevan Roberts Mr Greg Rundle GENERAL MANAGER Mr David Brand

Committee Attendance Anthony Martin 12 Gavan Fox 10 Paul Duregon 11 Brett Jarrad (re-elected 27th March 2013) 9 Sam Koukourou 12 Kay Nyland 12 Gerry Oâ&#x20AC;&#x2122;Brien (resigned 27th March 2013) 0 Bevan Roberts (re-elected 27th March 2013) 9 Greg Rundle (appointed 30th April 2013) 7

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Membership Status Membership numbers as at 31st December 2013

Category

Male

Female

2013

2012

2011

2010

2009

2008

Life

Full

514

574

609

639

725

713

676

Full Paid

Company

121

167

177

208

201

272

326

Intermediate

Six Day

109

170

163

158

156

140

Country

Temporary

Corporate

Honorary

Non Playing

Social

114

Honorary Social

PGA Member

Try Golf

Casual

TOTAL

1,154

265

1,419

1,486

1,542

1,577

1,546

1,506

Provisional

Weekday Veteran Junior Junior Country

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Performances of Note State Team Selections Women’s State Squad - Elysia Yap Girls’ State Squad - Amy Zhou Boys’ State Squad - Josh Hayes Golf SA High Performance Talent Identification Squad - Jenny Lee, Matilda Wheare, Lachlan Booth, Josh Hayes & William Starkey Girls’ Cudmore Cheney Challenge - Matilda Wheare Victoria vs South Australia Border Challenge Metro - Josh Hayes, Jack Hynes & Will Starkey Men’s & Junior Boys’ Interstate Series Coach - Gareth Jones SA Secondary Schools Team - Matilda Wheare, Josh Hayes, Jack Hynes & Will Starkey SA Primary Schools Team - Jack Tanner

Amateur Events Ray Schwartz Vardon (Tea Tree Gully Junior Vardon) - Lachlan Booth Fleurieu Women’s Vardon - Jenny Lee Fleurieu Junior Vardon - Josh Hayes Flagstaff Hill Junior Vardon - Josh Hayes LM Gordon Bowl (Royal Adelaide Women’s Vardon) - Elysia Yap Glenelg Women’s Vardon - Jenny Lee Grange Salver (Grange Women’s Vardon) - Jenny Lee Paul Backhouse Memorial Rosebowl (Grange Junior Vardon) - Josh Hayes SA Business Women’s Championship - Sarah Griffiths SA Women’s Champion of Champions - Jill Hodge Golf SA Open Week Metro Silver - Jill Hodge Jenkins-Scott Trophy (Mt Osmond Women’s Vardon) - Jenny Lee Jack Newton Junior - Jenny Lee Aaron Baddeley State Final - Jack Hynes SA Amateur Championship Runner Up - Jenny Lee SA Junior Amateur Championship Runner Up - Jenny Lee Australian Amateur Championship Runner Up - Jenny Lee SA Women’s Country Champion - Deb Christie Rhonda Watson Brooch - Glenelg (Elise Dignan, Cathy Symons & Elysia Yap) Golf SA Junior Open - Jenny Lee

Women’s Grade 1 Pennant Winners

Women’s Grade 2 Pennant Runners Up

Heather Waddy (Team Manager), Jenny Lee, Sophie James, Jill Hodge, Josie Hodge, Elysia Yap & Amy Zhou

Ruth Martin (Team Manager), Jess Burns, Joy Green, Sarah Griffiths, Cathy Johnson, Anne Marks, Sue Raggatt, Sue Tuohy, Sam White & Jill Gehling

Men’s Bonnar Cup Runners Up Wayne Humphries (Team Manager), Martin Ardill, Luke Bashford, James Brown, Lee Cole, Henry Duregon, David Hiern, Sam Hynes, Matt Mudford, Michael Ratajewski, Will Starkey & Braeden Kelly

Sharp Cup (Junior Pennant) Runners Up James McDonald (Team Manager), Haydn Booth, Josh Hodgson, Jack Hynes, Jackson Kalz, Liam Kennewell, Jenny Lee, Sam Raschella, Sam Williams & Todd Williams

Holes in One Ian Symons (January) ��11th Hole Gary Cundy (March) ��11th Hole Malcolm Lindquist (April) ��3rd Hole Peter Gebhardt (June) �� 16th Hole

Richard Yap (June) ��3rd Hole David Rowse (November) �� 3rd Hole Bernie Manser (December) ��11th Hole

Star player, Jenny Lee, in action during the 2013 Golf SA Pennant season

The winning Glenelg Womenâ&#x20AC;&#x2122;s A1 Pennant Team

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Club Championship & Trophy Winners Event

Winner

Runner Up

Men’s Club Championship

Campbell Rawson

David Hiern

Women’s Club Championship

Jill Hodge

Elise Dignan

RF Stevens Trophy

Campbell Rawson

Andrew Grzybowski

Men’s B Grade Championship

Richard Karolewicz

Ralph Faithfull

Men’s C Grade Championship

Bevan Roberts

Stephen Dean

Women’s B Grade Championship

Chris James

Jill Stone

Women’s C Grade Championship

Judy Clayton

Ann Colmer

Men’s A Grade Plate

Brett Cefai

Henry Duregon

Men’s B Grade Plate

Mark Footner

Troy Perriam

Men’s C Grade Plate

Wayne Sands

Anton Clovicko

Boys’ Club Championship

Josh Hayes

Sam Raschella

Girls’ Club Championship

Matilda Wheare

Hyoyi Pyun

Men’s Senior Championship

Denis Prider

Chris Whitford

Jimmy McLachlan Trophy

Anthony Olsen

Matt Overall

Women’s Open Championship

Josie Hodge

Jill Hodge

Men’s Foursomes Championship

Andrew Grzybowski & Anthony Olsen

Henry Duregon & Sam Raschella

Women’s Foursomes Championship

Jan Dale-Harris & Jill Hodge

Cathy Johnson & Sue Raggatt

Men’s A Grade Foursomes

Henry Duregon & Sam Raschella

Andrew Grzybowski & Anthony Olsen

Men’s B Grade Foursomes

Mark Footner & Keith Turner

Allen Campbell & Peter Thomas

Men’s C Grade Foursomes

Rob Arbon & Mike Panno

Adrian Harders & Bevan Roberts

Women’s B Grade Foursomes Championship

Chris James & Christine Sullivan

Ros Henderson & Ros Osborn

Women’s C Grade Foursomes Championship

Pat Aitken & Alison Waterman

Lynne Cotton & Carmel Fairweather

Mixed Foursomes Championship

Campbell Rawson & Elysia Yap

David Brand & Cathy Symons

Rhonda Watson Brooch (Gross)

Elise Dignan, Cathy Symons & Elysia Yap

Rhonda Watson Brooch (Net)

Jodie Deacon, Deb Percy & Jill Trenorden

Brian Ferris Memorial Trophy

Jack Williams

Heath Riches

Eric Scovell Trophy

Colin Coleman

Jake Hurst

Women’s Vardon

Jenny Lee

Ebony Heard

Owen Whitford Trophy

James Brown & Jacqui Whitford

Andrew Hodge & Jill Hodge

Lance Begg Trophy

Gavan Fox & Karin Fox

Deane Harris & Jan Dale-Harris

Winter Pinehurst Foursomes Trophy

Ian Foord & Joy Green

Cathy Symons & Ian Symons

Don Harris Memorial Trophy

Mark Fleer & John Wainwright

Lisa Faehrmann & Geoff Gitsham

Tuohy Trophy

Geoff Attenborough & Leigh Attenborough

Jack McGrath & Paul McGrath

Event

Winner

Event

Winner

Governor’s Cup

Paul McBriarty (West Lakes)

Glenelg Trophy (Juniors)

Sam Raschella

Senior Cup

Ron Heald

Boys’ Handicap Matchplay

Josh Hodgson

Anzac Trophy

Phill Noblet

Rawson Memorial

Ian Gardner

Captain’s Trophy

Brian Welsh

Don Watson Memorial

Graham Spall

President’s Trophy

Brett Cefai & Stephen Dean

Frank Collins Memorial

Grant Baum

Glenelg Trophy

Paul McGrath

AH Smerdon Memorial

Louis Langanis

Sam Percival Trophy

Richard Karolewicz

Steve McKee Memorial

Ian Daebeler

Milo Sprod Trophy

John Burkett

Summer Cup

Trent Kotz

Reg Sands Starter’s Trophy

Greg Kendall

Harold Wright Memorial

Anthony Olsen

Norm Omond Medals

A: Brett Cefai

Men’s Winter Matchplay

Jim Sullivan

B: Bruce Davy

Brian Bashford Memorial

Graham Hobbs

C: Mike Panno

Women’s Event

Winner

Women’s Event

Winner

President’s Foursomes

Cathy Darling & Heather Waddy

Shylie Rymill Foursomes

Helen McMutrie & Helen Mesnil

Captain’s Trophy

Sue Raggatt

Consistency Cup

Marie Winter

Laurel Wreath

Judy Martin

Aggregate Par Trophy

Sue Tuohy

International Bowl

Silver: Kay Nyland

Veterans’ Handicap

Nancy Craigie

Bronze: Joyce Thomas

Veterans’ Handicap Gross

Jayne Staridas

Shane Robinson Trophy

Jayne Staridas

Veterans’ Handicap Net

Joy Giles

Club Medal 1

Joy Giles

JM Sims Trophy

A Grade: Jill Gehling

Club Medal 2

Chris James

B Grade: Marie Winter

Club Medal 3

Marie O’Halloran

C Grade: Karin Fox

Club Medal 4

Elysia Yap

Caddy Trophy

Jan Dale-Harris

Past Committee Trophy

Marg Coker

Most Improved Handicap

Sue Robinson

Grandmothers’ Trophy

Jill Sutter

Jacka Trophy

Lisa Faehrmann

Putting Trophy

Ruth Martin

Wallace Stroke

Louise Pike

Parfection Prize

Sophie James

Ella Cole Trophy

Matilda Wheare

Essex Stroke

Silver: Ruth Martin Bronze: Peggy Lau-Flux

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Office Bearers 1927 - 2013 Year

President

Captain

Vice-Captain

Year

1927 A.J. Roberts

S. Jackman

F.G. Hicks

1928 A.J. Roberts

S. Jackman

F.G. Hicks

1929 A.J. Roberts

S. Jackman

1930 A.J. Roberts

S. Jackman

1931 A.J. Roberts 1932 Not Appointed

President

Captain

Vice-Captain

1970 N.E. Bagshaw

J.R. Alderman

J.D. Omond

1971 N.E. Bagshaw

J.R. Alderman

J.D. Omond

F.G. Hicks

1972 N.E. Bagshaw

J.D. Omond

M.C.E. Summers

F.G. Hicks

1973 N.E. Bagshaw

J.D. Omond

M.C.E. Summers

F.G. Hicks

John Hill

1974 N.E. Bagshaw

M.C.E. Summers

R.B. Bennett

F.G. Hicks

John Hill

1975 N.E. Bagshaw

M.C.E. Summers

R.B. Bennett

1933 W. Fisk

John Hill

G. McLeay

1976 F.G. Collins

R.B. Bennett

G.A. Hodgson

1934 W. Fisk

John Hill

G. McLeay

1977 F.G. Collins

R.B. Bennett

G.A. Hodgson

1935 W. Fisk

J.E. Ashton

G. McLeay

1978 F.G. Collins

G.A. Hodgson

H.T. Slade

1936 W. Fisk

J.E. Ashton

G. McLeay

1979 F.G. Collins

G.A. Hodgson

H.T. Slade

1937 W. Fisk

K.C. Crookall

Dr. A.H. Guymer

1980 F.G. Collins

H.T. Slade

B.J. Manser

1938 W. Fisk

Dr. A.H. Guymer

Dr. C.B. Maddern

1981 F.G. Collins

H.T. Slade

B.J. Manser

1939 Frank Smith

Dr. A.H. Guymer

J.E. McKee

1982 F.G. Collins

B.J. Manser

J.E.O. Handford

1940 Frank Smith

J.E. McKee

V.M. Thomas

1983 F.G. Collins

B.J. Manser

J.E.O. Handford

1941 Frank Smith

V.M. Thomas

W.B. Holt

1984 R.B. Bennett

J.E.O. Handford

G.D. Gitsham

1942 Frank Smith

V.M. Thomas

W.B. Holt

1985 R.B. Bennett

J.E.O. Handford

G.D. Gitsham

1943 Frank Smith

V.M. Thomas

W.B. Holt

1986 R.B. Bennett

G.D. Gitsham

A.K. Whitford

1944 Baden Pattinson

V.M. Thomas

W.B. Holt

1987 R.B. Bennett

G.D. Gitsham

A.K. Whitford

1945 Baden Pattinson

W.B. Holt

A.C. Brooke

1988 R.B. Bennett

A.K. Whitford

D.N. Barton

1946 Baden Pattinson

W.B. Holt

A.C. Brooke

1989 R.B. Bennett

A.K. Whitford

D.N. Barton

1947 W. Allen

E.Caradoc Ashton

S.N. McKee

1990 R.B. Bennett

D.N. Barton

J.L. Waddy

1948 H.H. Handby

E.Caradoc Ashton

S.N. McKee

1991 R.B. Bennett

D.N. Barton

J.L. Waddy

1949 H.H. Handby

E.Caradoc Ashton

S.N. McKee

1992 R.B. Bennett

J.L. Waddy

J.R. Giles

1950 C.H. Fidock

S.N. McKee

F.G. Collins

1993 R.B. Bennett

J.L. Waddy

J.R. Giles

1951 C.H. Fidock

S.N. McKee

F.G. Collins

1994 D.N. Barton

J.R. Giles

J.A. Rawson

1952 C.H. Fidock

F.G. Collins

S.D. Harris

1995 D.N. Barton

J.R. Giles

J.A. Rawson

1953 C.W. Anderson

F.G. Collins

S.D. Harris

1996 D.N. Barton

J.A. Rawson

I.P. Symons

1954 C.W. Anderson

S.D. Harris

D.M. Watson

1997 D.N. Barton

J.A. Rawson

I.P. Symons

1955 C.W. Anderson

S.D. Harris

D.M. Watson

1998 D.N. Barton

I.P. Symons

D.M. Lindsay

1956 C.W. Anderson

S.D. Harris

D.M. Watson

1999 J.L. Waddy

I.P. Symons

D.M. Lindsay

1957 C.W. Anderson

D.M. Watson

C.M. Wood

2000 J.L. Waddy

D.M. Lindsay

C.R. Whitford

1958 C.W. Anderson

D.M. Watson

C.M. Wood

2001 J.L. Waddy

D.M. Lindsay

C.R. Whitford

1959 C.W. Anderson

D.M. Watson

C.M. Wood

2002 J.L. Waddy

C.R. Whitford

P.J. Norman

1960 W.J. Parkinson

C.M. Wood

N.E. Bagshaw

2003

C.R. Whitford

P.J. Norman

1961 W.J. Parkinson

C.M. Wood

N.E. Bagshaw

2004 B.J. Manser

P.J. Norman

I.R. Brooks

1962 W.J. Parkinson

N.E. Bagshaw

P.T. Morton

2005 B.J. Manser

P.J. Norman

I.R. Brooks

1963 W.J. Parkinson

N.E. Bagshaw

P.T. Morton

2006 B.J. Manser

I.R. Brooks

P.R. McGrath

1964 N.E. Bagshaw

N.E. Bagshaw

P.T. Morton

2007 B.J. Manser

I.R. Brooks

P.R. McGrath

1965 N.E. Bagshaw

P.T. Morton

J.A. Butler

2008 B.J. Manser

P.R. McGrath

N.J. Johnson

1966 N.E. Bagshaw

P.T. Morton

J.A. Butler

2009 G.D. Gitsham

P.R. McGrath

N.J. Johnson

1967 N.E. Bagshaw

J.A. Butler

J.A. Manning

2010 G.D. Gitsham

N.J. Johnson

A.J. Martin

1968 N.E. Bagshaw

J.A. Butler

J.A. Manning

2011

N.J. Johnson

A.J. Martin

1969 N.E. Bagshaw

J.A. Manning

J.R. Alderman

2012 G.D. Gitsham

A.J. Martin

G.M. Fox

2013 G.D. Gitsham

A.J. Martin

G.M. Fox

J.L. Waddy

G.D. Gitsham

Committee Members 1927 - 2013 Name

Years

Name

Years

Name

Alderman, J.R.

Gillespie, D.P.

Manning, J.A.

Allen, W.S.

Gillman, J.F.

Manser, B.J.

Years

Name

Years

Rundle, G.C.

Sando, H.H.

Ashton, E.C.

Gitsham, G.D.

Marshall, A.K.

Sands, R.G.

Ashton, J.E.

Goldsworthy, J.S.

Martin, A.J.

Sauerbier, L.C.

Bagshaw, N.E.

Guy, G.R.

Martin, S.G.

Skinner, L.P.

Barton, D.N.

Guymer, Dr. A.H.

Mausolf, N.

Slade, H.T.

Bennett, R.B.

Handford, J.E.O.

McCarter, L.

Stanhope, B.H.

Harris, S.D.

McCarthy, K.J.

Stevens, G.B.

McFarlane, A.

Stevens, R.F.

Bishop, W.P. Briscoe, P.C.A.

6 11

Hartford, B.B.

5 11 1

Brooke, A.C.

Hendry, J.M.

McFarlane, K.B.

Still, J.A.

Brooks, I.R.

Hewett, L.P.

McGlasson, A.

Stone, J.C.

Brooks, L.A.

Hicks, F.G.

McGrath, P.R.

Summers, M.C.E.

Burgen, O.T.

Hill, J.

McKee, J.E.

Symons, I.P.

Butler, J.A.

Hodgson, G.A.

McKee, S.N.

Thomas, V.M.

Campbell, K.S.

Hodgson, J.W.

McLeay, G.

Thompson, G.R.

Chamberlain, R.R.

Holt, W.B.

McLuckie, R.

Trabilsie, F.J.

Chapple, G.B.

Hull, S.C.

McMutrie, H.

Truscott, R.W.

Humphries, W.G.

Merrett, A.F.

Vivian, A.B.

Jackman, A.J.

Morton, P.T.

Waddy, J.L.

Jackman, J.W.

Nelson, R.A.

Walsh, T.I.

Collins, F.G.

Connelly, P.F. Crookall, K.C. Cudmore, D.C.

Jackman, S.

Newton, R.

Warburton, C.

Dale, M.E.

Jarrad, B.

Norman, P.J.

Watson, D.M.

Darling, A.E.

Johnson, A.C.M.

Nyland, K.

Watson, E.J.

Dignan, J.A.

Johnson, N.J.

Oâ&#x20AC;&#x2122;Brien, G.P.

Weston, G.W.

Duregon, P.B.

Johnson, W.G.

Omond, J.D.

Wheatley, J.A.

Ellers, L.G. English, R.J.

3 10

Kenny, J.P.

Palmer, J.S.

Whitford, A.K.

Kimber, A.W.

Percival, S.T.P.

Whitford, C.R.

Ferris, B.T.

Koukourou, S.

Phillips, D.W.

Wood, C.M.

Flehr, B.E.

Lacey, E.H.

Phillips, M.B.

Wood, L.M.

Follett, R.M.

Lewis, F.A.

Foster, G.C.

Lindsay, D.M.

Price, W.D.

Wood, W.C.

Pritchard, W.A.

Woolcott, E.S.

Fox, G.M.

Maddern, Dr. C.B.

Rawson, J.A.

Wright, H.F.

Frances, I.K.

Maddern, J.P.

Rawson, K.A.

Young, W.D.

Mahoney, W.J.

Reade, T.C.

Mallen, L.

Roberts, B.M.

Freeman, R.E.N. Giles, J.R.

3 10

Tony Martin Captain

Gavan Fox Vice-Captain

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Tony Martin Captain

Captain’s Report

Gameplan Review & Highlights • • • • • • • •

Improved local and overseas reciprocals Women’s pennant success More variety and fun Good financial management Increased debt reduction achieved Improved course presentation, reputation and ranking The Bay Coterie Group launched Enhanced and more flexible membership categories

Looking back on the year that was (2013) there is a great list of successes, firsts and achievements both in respect to our Club and golf generally. It has been a very good year! Defining moments? Let’s start with Adam Scott and the US Masters win! It does not get much better than this. The game has been struggling, but this historic victory has changed the landscape and will see renewed interest and enthusiasm at all levels, especially at the grass roots which will help kick start the game again. As Wayne Grady says “If you want to build the perfect golfer so far as swing, personality and humility, just the whole person, you’d build Adam Scott.” We hope Adam (and others) keep on winning and our game grows as a result! In respect to the Club, much has been achieved with a number of firsts and some significant advancements in the member value areas. Early in the year, the Committee of Management and key management staff held a planning session to develop the Club’s Strategic Gameplan for the period 2013-2017. Among some of the key goals and objectives was the need for the Club to offer a family friendly, welcoming and relaxed environment, and to better understand the needs and requirements of new and existing members. Some quoted extracts: ‘Golf is a game of history and tradition that faces significant challenges in a modern society with so many competing challenges. They are specifically related to time, expense, difficulty and choice.’ ‘… to find the right pathways forward to ensure the best possible golf and sociably pleasing experience going forward.’ The purpose of this report document is to explore some ideas that will drive us more toward the game being faster, more affordable and make it easier to access and play and ultimately to have more fun.’

The final summary document, titled “Our Strategic Gameplan (2013-2017) – The Short Game Version” was presented to members at the Annual General Meeting in March. A number of short and longterm goals and key performance indicators were identified in the document and I am pleased to advise that we have been able to meet many of those short-term goals during 2013. Some of these successes include: 1. More variety and fun – we held our first Night Golf event and was universally hailed a great success. We are now doing it again in April 2014 with an expanded event. 2. More social activities – Concert at The Bay with The Brewster Brothers (nee Angels) came to the club and over 150 rockers danced the night away. Again a shining light in the year that will ensure future well known artists will follow. 3. Enhanced member value – we have added to our impressive local reciprocal courses/club list that now boasts Woodlands (VIC) and St. Michael’s (NSW). 4. Even more enhanced member value – we joined the Pacific Links group which opens up access to over 40 premium overseas golf courses/clubs mainly in the Asia Pacific region and USA. This is a significant value add to any member travelling overseas. 5. And finally, we have further enhanced member value with the recent signing of Cruden Bay which is a major coup as this is one of the world’s finest links golf courses.

‘There is a concept that golf is more than a game. In fact some would say ... “It’s a game for life.”’

The above are significant as what this means is that with just one membership, you, the member, have the ability to now access over 60 world class golf courses so that we can say “one club.............more golf”! We believe this is a major step in the right direction.

‘We believe golf should be affordable, accessible and ageless. Golf is about healthy exercise and having fun in a safe and friendly environment.’

The Committee of Management also set itself an ambitious set of targets in 2013 given the current economic conditions. Whilst just missing our net surplus target,

we were still able to report a modest net surplus, but more importantly, the Club’s strong cash flow position saw us exceed our debt reduction target for the year. Another short-term goal set by the Committee of Management was to feature in club and service awards of excellence, and whilst the Club was unsuccessful in winning any awards this year, we were nominated for three SA Bridal Industry awards and two Clubs SA awards for excellence. We maintained our commitment to ensuring the golf course continued to be manicured so that conditioning and presentation are of the highest quality, in an effort to maintain and improve our course rankings. In December 2013, it was announced that Glenelg had climbed another place to 28th in Golf Australia Magazine’s top 100 golf courses, the only Adelaide club to improve its ranking. Food & Beverage was another key area of focus for the Committee of Management and after a slow first six months, we saw significant improvements in clubhouse utilisation and profitability in the latter months of the year. Our food and beverage operations continue to be the envy of many other golf clubs in Adelaide and with an increasing trend in wedding (approaching Gameplan target of 30), function and conference bookings being seen in recent months, we hope to achieve even better results in 2014. Another ‘first’ has seen the introduction of “The Bay Coterie Group” which is a member-driven initiative by a few passionate members aiming to establish a group of 100 or more generous and loyal members who wish to help finance special projects . You are sure to hear more soon.

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January Martin Ardill appointed Clubhouse Operations Manager, replacing Karen Steindorf 13th greenside bunkers refurbished Brad Edwards joins Course Maintenance team, replacing David Kinnear Finance & Administration Manager, Carly Clough, takes 6 months maternity leave

February LED lighting installed throughout clubhouse, replacing old halogen downlights Extreme hot weather impacts on course usage and F&B sales Anvers wines become house pour through sponsorship arrangement with the Club’s pennant teams New Junior Golf sub-committee introduced 64 women participate in Women’s Try Golf program Links Lady Bay pennant camp held

March Gerry O’Brien resigns from COM 2013-2017 Strategic Game Plan finalised and distributed to members New family price structure introduced for the Junior Tigers Golf Program James McDonald resigns as Assistant Course Operations Manager, replaced by Simon Grieve 86th Annual General Meeting held 10kw solar system installed on clubhouse roof

April Golf SA Classic & Rene Erichsen held Greg Rundle appointed to COM in casual vacancy Various new membership categories and policies introduced for new membership year Quarterly instalment plan and direct debit payment options implemented Woodlands Golf Club added to reciprocal club list Shane Birss joins Course Maintenance team

Financial Scoreboard • • • •

Debt reduction success Improved food and beverage result Tough wedding and function market Membership steady

It is pleasing to report a net surplus of $19,845 for the year ending 31st December 2013 despite the tight economic conditions faced during the year, with total equity increasing by the same amount to $4,201,832. The Club continued to report strong cash flow with a net increase in its cash position of $81,340 as at 31st December 2013. This included repayment of a further $350,000 off the clubhouse loan, $50,000 more than budgeted, ensuring we continue to meet our debt reduction obligations as previously outlined to members. The Club reduced its operating debt associated with hire purchases and lease agreements by $91,190, and when accounting for $46,500 in additional leases covering the acquisition of six new golf carts, the Club was able to reduce its total debt level by $397,690 to $2,431,297. Following a decrease in membership income as reported in 2012, it is pleasing to report a small increase in membership revenue for 2013. Strong entrance fee revenue totalling $243,360 was 7% higher than the previous year and accounts for much of the increase in membership revenue. Interest in membership continues to be strong with 71 new members joining the Club, including 32 new members across all categories requiring full payment of the entrance fee. Although down slightly, this was offset by a higher membership retention rate with only 132 resignations, compared with 147 in 2012. Full member equivalent (FMI) numbers continue to fall and this is reflected in reduced Infrastructure Levy revenue of $291,248, all of which was allocated to the Club’s debt reduction program. A reduced capital expenditure schedule saw only $245,392 spent on various projects, compared with $349,383 in 2012, with most capital items targeted to deliver savings on future operational expenditure. An audit undertaken on the Club’s electricity usage in 2012 led to the installation of LED lighting throughout clubhouse in early 2013, replacing the old halogen downlights. This project will have estimated annual savings of approximately $5,000. A 10kW solar system was installed on the clubhouse

roof in March with an estimated payback period of approximately 7 to 10 years. A new photocopier was purchased for the Administration Office late in the year which will deliver savings in excess of 50% of the previous machine’s operating costs. Further capital expenditure was undertaken on the ageing maintenance facility to ensure our WHS and environmental obligations were being met, whilst a new dishwasher, stainless steel benching and other associated equipment were installed in the kitchen scullery. The 12th tee toilet block received a well overdue upgrade with funds to be allocated in 2014 to upgrade the 4th tee toilet. Bar and catering contributed a combined net profit of $235,176 in 2013, a 25% increase over 2012 figures. Bar performance was exceptional posting a net profit of $195,419, surpassing the previous year’s result by 60%. Strong bar sales, particularly in the 2nd half of the year, combined with careful management of staffing levels and purchasing, was the key to this excellent result. Catering struggled to post its usual profits through the first half of 2013 with an unexpected drop in function bookings. A marked increase in bookings, particularly weddings, in the second half saw Catering post a net profit of $39,757 for the year. Total expenditure grew by only 1.3% in 2013 through careful cost management strategies. Administration expenses increased by 3.1%, most of which was related to increased marketing, communications and advertising costs as we strive to develop alternative revenue streams for the Club. Finance costs were reduced by $28,504 as we continued our debt reduction program. Course expenses increased marginally, whilst house saw no material increase in expenditure.

A year of controlled fiscal policy has put the Club in a stronger financial position with a positive outlook for 2014.

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Golf Course • • • •

Outstanding course condition Continued bunker enhancement success Increased reputation and national ranking Improved water efficiency and usage

The focus for our golf course maintenance operations in 2013 was in maintaining outstanding turf quality, conditioning, presentation and playability all year round, something for which our Club has become well known. I am sure all would agree that we were able to achieve this during the year. Minimal major works were carried out in 2013 as we focused our attention on grooming and presentation. During the first half of the year, the nursery area between the 11th and 12th holes was redeveloped, establishing 2,800m2 of turf for a variety of different applications. Landscaping works were also undertaken to tidy up what has been a rather unsightly area of the golf course for a number of years. The establishment of this enlarged nursery, which also included the installation of a new irrigation system, has the capacity to save upwards of $10,000 per annum by allowing us to harvest our own turf for our requirements rather than importing turf at significant cost. Our ongoing bunker refurbishment program continued during the year with 16 bunkers receiving attention on various access issues and revetting. Refurbishment works included the greenside bunkers on the 13th, 12th, 7th, 16th, 2nd, 14th and 10th holes. Minor course enhancement works were carried out, including the refurbishment of quartzite paths on 10th/11th, 14th & 15th/16th. The redesign of the pathway on the 14th hole has enhanced the look

of the hole, taking the path out of players’ eyeline and directing all traffic through the natural landscape. A new irrigation system was installed on the left hand side of the entrance road adjacent the 10th tee to improve the visual amenity of this area and the quality of the grassed overflow car park area. An upgrade of the practice nets adjacent the chipping green was completed during 2013 and course renovations were again carried out in September with all work finished within two weeks. In keeping with the Club’s goal of developing an environmentally sustainable golf course, we were able to demonstrate improved efficiency in the operation of our irrigation system. During the year, careful management resulted in utilising 20% less water than the actual requirement of the turf, resulting in an effective saving of $40,000 in irrigation expenses. This was despite receiving only 31% of average rainfall for the months of October to December. Our ASR wetland system continues to provide the Club with a consistent and guaranteed supply of quality irrigation water. In total, 119ML (119,000,000L) of stormwater was injected into the underlying aquifers throughout the year, bringing the overall total of injection to 345ML since the system commenced full operation in 2011. In order to ensure continued efficiency with the ASR wetland system, the Club carried out a review of the system’s operations during the year, funded by the Adelaide

& Mt Lofty Ranges Natural Resources Management Board. The review identified a number of changes to the system with many of the improvements implemented and generating excellent results. Issues from extracting sedimentation from underlying aquifers and causing blockages in the irrigation system were rectified late in the year with the installation of a sand filter on the problematic ASR2 bore. The Club’s commitment to meeting its WHS and environmental obligations saw further work undertaken on the maintenance facility. Works included the upgrade of the Club’s chemical mixing area with weather protection, drainage and bunding installed to meet legislative requirements. Other minor works were also undertaken and procedures put in place to ensure compliance requirements were met. Our golf course continues to be the jewel in the crown of what we offer our membership base. Its condition continues to improve every year and this is a credit to our highly skilled course maintenance team led by our highly regarded Course Superintendent, Daryl Sellar, and Course Operations Manager, Graham Stevens.

Course renovations play an integral role in the condition and presentation of our course. Daryl and his team continue to make modifications to the renovation program carried out through September each year, with the aim of reducing the impact to members

Our Course Operations Team with Australian golfing legend, Wayne Grady before the 2013 Glenelg Foundation Day

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May Saturday BBQ re-introduced for the winter months Mother’s Day luncheon held Changes made to kitchen rosters to reduce wage costs and maximise returns Refurbishment of quartzite paths on 10th/11th, 14th & 15th/16th completed

Membership & Member Focus • • • • • •

Improved local reciprocals and value adds Improved overseas reciprocals and value adds Improved and more flexible membership categories Improved service and quality wine product additions Establishment of the “50 Year Club” First rock concert held

Nursery redevelopment project commenced

June Nursery development project finished Upgrades to maintenance facility to meet compliance and legislative requirements Anvers Wine Open Saturday competition introduced St Michaels Golf Club added to reciprocal club list

July Glenelg joins the Pacific Links group of golf courses Glenelg hosts Golf SA Pennant finals. Women’s Grade 1 take out title, Women’s Grade 2, Juniors and Bonnar Cup sides go down in tight matches Carly Clough returns from maternity leave Captain’s Lunch held, with Stuart Blackwell (St Hallet Wines) as guest speaker Local Messenger advertising campaign underway Revetting work on 12th, 7th and 16th greenside bunkers

August Foundation Golf Day held with special guest, Wayne Grady Member Satisfaction Survey sent out to members Rump & Red Night becomes The Grill Night. Revetting work on 2nd greenside bunker and 14th greenside bunkers Annual carp removal works completed successfully

For much of 2013, the Membership & Member Focus sub-committee was concentrating on ways to deliver a greater level of service and value to members and to establish alternative sources of revenue. Recognising a gap in the new member market, new policies were introduced targeting the age brackets 25-40 years of age and the over 65s. Weekday Senior membership was introduced, offering those over the age of 65 the chance to join the Club as a Weekday member with a reduced entrance fee – an option not previously available to new members. Intermediate Plus was created for those aged 25 to 34 who may have family and work commitments and not necessarily have the available funds or time to commit to a Full membership at this stage. A discounted entrance fee and subscription, along with restricted playing rights, form the basis of Intermediate Plus membership. Neither category has seen a large take up in the early stages although we anticipate more interest in coming years. One of the Club’s strategic goals is to offer a fun, family friendly, welcoming and relaxed environment for members. In keeping with this goal, a new entrance fee policy was introduced offering significant discounts for new members joining the Club under the age of 25 who have parents or grandparents as members. It is hoped this new policy will encourage family memberships and generate family lineage of membership designed to enhance the Club’s unique family culture and casual, relaxed atmosphere. Affordability is a key concern for the Club. As our operating costs continue to increase, we need to provide our members with affordable, flexible membership options to ensure they can remain as members well into the future. Accordingly, quarterly instalment direct debit payment options were introduced to give members an alternative option to pay their subscriptions. Approximately 60 members took out this option in 2013 and we expect this number will increase in future years.

The establishment of new revenue streams is a key focus for the Club. Sponsorship arrangements were entered into with Anvers Wines, McGrath Real Estate, the Watermark Hotel and SA Safe Supplies to assist in the funding of the Club’s pennant program. We thank Kevin Thomas (Anvers Wines), Paul McGrath (McGrath Real Estate), David Elmes (the Watermark Hotel) and Mark Roberts (SA Safe Supplies) for their generous support. Other event sponsors throughout the year included Mark Fleer (The Tool Chrome Company), Jane Nelson (Magain Real Estate), Phil Greig (City Mazda) and the Tuohy family. The Anvers Wines partnership extended beyond the pennant program with a number of other initiatives, including becoming the new house pour and the introduction of the Saturday Anvers Wine Open held in June coinciding with a special Anvers wine tasting day for members. The first full year of the partnership with the Adelaide Football Club saw some great initiatives for members. A 10% discount for food and beverages was offered to all Adelaide Football Club members during the AFL’s home and away season – many Club members made use of this offer and we saw a number of new faces around the Club for lunches and dinners as a result. Brenton Sanderson continued his role as Club Ambassador providing exposure for the Club through the media and on social media sites, and culminating at the December Captain’s Lunch as guest speaker. Corporate membership was restructured during 2013 resulting in an increase in numbers. Signs Inc., Metcash, Starr Rubber & Plastics, Mitsubishi Electric and John Lewis Foodservice were just some of the new companies taking out new corporate membership packages and making the most of the Club’s hospitality and conference facilities. In total, approximately $50,000 was generated through Corporate memberships. We saw a large spike in advertising, marketing and communications expenses in 2013 as we heavily promoted our Pinehill Bistro, our function and conference facilities and our

membership offerings. Utilisation of the local Messenger newspaper, bridal magazines and expos, and online marketing were just some of the methods used during the year. Member activities continued during the year with a number of ‘firsts’ held. The 50Year Club was launched with the inaugural luncheon gathering 30 or so members who have been at the Club for 50 or more years. The first Night Golf event was held in August attracting 72 players, whilst our first concert was held in December with the Brewster Brothers playing to more than 150 members and guests in the Club’s Dining Room. In April, a new Anzac Day tradition was started with the playing of the Last

Post by club employee, Josh Chenoweth – a poignant and moving reminder to those members who have served our country in the armed forces.

Michael’s in Sydney add further quality and variety. Internationally, Cruden Bay in Scotland is universally known as one of the finest tests of links golf in the world.

In August, we once again undertook an extensive member satisfaction survey with pleasing results. Overall satisfaction ratings continue to be high with the golf course rating highest at 8.71, an improvement over the 2012 ratings. The Pro Shop received an overall satisfaction rating of 8.43 whilst Food & Beverage rated 7.95.

The signing of the Pacific Links Group, which provides access to a further 40 premium golf club facilities in the Asian / Pacific regions and USA, has given members unprecedented access to choice when they travel abroad. This is one of the most significant announcements in the Club’s history and further emphasises the ‘one club........more golf’ value concept.

Our reciprocal club list has been significantly bolstered during the year with some outstanding additions. Nationally, Woodlands (ranked 5 in Victoria) and St

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Whilst wedding numbers dropped significantly throughout 2013, bookings for 2014 (29 to date) suggest the Clubâ&#x20AC;&#x2122;s direction to rectify ailing booking numbers has started to show results.

The first live concert was held at the Club in 2013, with the Brewster Brothers, renowned members of The Angels, rocking out to over 130 members and guests in our dining room.

Clubhouse Operations • 2014 wedding/function market improved • Increased popularity of theme food nights • Successful Captain’s lunches Our food and beverage operations performed well during 2013 posting a combined profit of $235,176, a 25% improvement on 2012. Much of the improvement was driven through improved bar sales whilst catering struggled to match the sales of previous years with a drop in wedding numbers and a slow start to the year in function and conference bookings. The Club hosted 389 functions for the year, including weddings, conferences, functions, golf days, club functions and club golf days. This was 10 more than in 2012, however total revenue through functions was just over 8% lower than the previous year. This drop in revenue was mainly attributable to fewer wedding receptions, with only 18 held in 2013 compared with 28 in 2012. We currently have 29 weddings booked for 2014. In total, just under 19,500 members and guests attended functions hosted by the Club in 2013, spending just over $900,000 and accounting for approximately 43% of combined bar and catering revenue. Our Pinehill Bistro continues to grow more popular every week with Thursday and Friday nights consistently seeing covers over 50 or more. Our popular Thursday Rump & Red Night saw a change in focus during the year to become The Grill Night. Whilst the popular rump steak special remained, the change allowed our culinary team to have a greater focus on other cuts of meat which has been well received by diners. Friday night dinners

saw a resurgence during the year with the introduction of Curry Night through the winter months, followed by Fish ‘n’ Chip Night as the weather warmed up. Lunch at Pinehill Bistro continues to be a popular choice for members and guests. Menus continue to be updated regularly offering a great variety of options. Nonfunction catering sales, consisting of our Pinehill Bistro, sandwich and snack bar sales, saw an increase of 15% to $514,611 for the year. Sunday breakfast was introduced in October and has been a resounding success to date as numbers continue to build, with the introduction of Saturday breakfast expected to follow in 2014. Our bi-annual Captain’s Luncheons again proved popular with 90 attending the July event featuring Stuart Blackwell from St Hallett Wines, and 122 attending the December luncheon with Adelaide Football Club coach, Brenton Sanderson, and the eccentric Chester Osborn, of d’Arenberg Wines fame. The ever popular Winery Challenge in October saw changes in 2013 with only one event played. An adjusted golf component allowed for 150 participants both on and off the golf course, all of whom were entertained by former Adelaide Oval curator, Les Burdett. During winter, the famous Glenelg Golf Club sausage sizzle returned to Saturdays, replacing the drinks cart for three months. The drinks cart continues to be used in the warmer months of the year and provides

welcome relief for those thirsty and hungry golfers during their rounds. Our Clubhouse Operations Manager, Martin Ardill, continues to grow in the role he took over at the beginning of the year, as he slowly introduces changes to our food and beverage operations. Regular staff meetings were held, new uniforms introduced, the wine list updated to include a greater variety of options, and wine tasting evenings were held during the twilight season. A new “Chef’s Herb Garden” was established behind the clubhouse and will provide our culinary team with locally grown herbs for their menus and, in a first for the Club with the help of our partner Anvers Wines, the Glenelg Golf Club Plate was run at Morphettville Racecourse in October providing the Club with some excellent, free exposure. Our culinary team, led by Head Chef, Matt Chapman, and Second Chef, Richard Narria, continue to ensure we offer consistent and affordable choices through our Pinehill Bistro and snack bar menus, and manage to deliver outstanding function cuisine that continues to impress our guests. In her first full year in the role, Events Manager, Lynn Kschammer, has been the driving force behind the rebirth of our function business through her friendly and professional performance, whilst our Bar Manager, Phil Day, continues to offer able assistance to Martin and the rest of the food and beverage team.

Function numbers in 2013 Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

TOTAL

2012

Weddings

Functions

102

Conferences

187

181

Golf Days

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Golf Operations • • • • • •

Women’s pennant success More variety in golf programs and events (Tuohy Trophy and Night Golf) Coaches embraced Women’s Try Golf success Women’s Open Championship success Junior golf success – Junior Tiger program

Some of the strategic goals set by the Committee of Management in the 2013-2017 Strategic Gameplan were to introduce more variety into our golf programs, promote and integrate shorter forms of competition, return the Club to being a force in pennant golf and conduct more coaching clinics for men, women and juniors. Our Golf Operations team, led by Head Professional and Director of Golf Operations, Shane Robinson, worked diligently throughout the year to deliver on many these goals and objectives. Early in the year, another 64 women participated in the Women’s Try Golf program. This program has been overwhelmingly successful with more than 30 new women joining the Club directly through this program in the last four years. Shane, and his team of coaches, including Head Teaching Professional, Gareth Jones, and teaching professional, Adrian Wickstein, deserve a huge amount of credit for the work done making this program the success it has been over the last two years. However, the program would not continue to be successful without the tireless work of Committee of Management member, Kay Nyland, who has taken on the role of champion of this program, and the assistance provided to her by the Women’s sub-committee. The Women’s sub-committee continued to work progressively to introduce a number of new initiatives making it easier for female members to participate in events. New booking procedures were used for various events and a new event, the Women’s Open Championship, was introduced to be played in conjunction with the Men’s Club Championship in November. This event allowed those women studying or working to play in a championship style event on a weekend. Josie Hodge was the inaugural winner of this event, defeating her mother, Jill Hodge, in a tight 34-hole battle. Coincidentally, it was Jill who took out the Women’s Club Championship played in June, her sixth title, against Elise Dignan. In other matches, Christine James defeated Jill Stone 4/2 in the 27 hole B Grade Championship,

Judy Clayton took out the C Grade Championship defeating Ann Colmer 3/1 and Arja Korhonen defeated Genny Amadio in the C Grade Plate final. In the Men’s Club Championships played in November, Campbell Rawson took out his first AJ Roberts Championship Cup against David Hiern whilst Denis Prider claimed his first Men’s Senior Championship over six-time club champion, Chris Whitford. Rick Karolewicz defeated Ralph Faithfull in the B Grade Championship and committee member, Bevan Roberts, collected his first C Grade title against Steve Dean. In the Plate Championships, Brett Cefai defeated Henry Duregon in A Grade, Mark Footner claimed victory over Troy Perriam in B Grade whilst Wayne Sands overcame Anton Clovicko in C Grade. Our Golf Operations team put forward a new blueprint for pennant golf in 2013 as we work towards becoming a force in pennant golf again. The blueprint included guidelines and expectations for players, managers and officials and set out the training schedule for the season, including a 2-day training camp held at Links Lady Bay. Players responded well to the new structure, with four out of the Club’s six pennant teams reaching the finals. Glenelg played host to the Golf SA pennant finals in June, with our Women’s Grade 1 team and Junior pennant teams qualifying. Whilst our Juniors went down to Kooyonga in a closely fought match, it was our Women’s Grade 1 team who defended their title in overwhelming style against The Grange. Our Women’s Grade 2 and Bonnar Cup sides also reached their respective finals but failed to bring home the pennant. In the individual honours, Matt McGowan was the standout male player of the year whilst Jenny Lee took out the female pennant player of the year. Participation rates remained high in 2013 with strong numbers in Saturday and Tuesday competitions, numbers sometimes exceeding 100 in Wednesday twilights and excellent involvement seen in our regular Pairs & Partners events. The Beach-Bay Trophy, played between Glenelg and 13th Beach, was held on the Adelaide Cup long weekend with

Glenelg successfully keeping the trophy at home, whilst we saw the Airport Challenge trophy between Glenelg and Kooyonga head north of the airport for the first time. In keeping with promoting more family friendly activities, good entries were received for The Tuohy Trophy which, in its second year, was opened up to players from around the state. Geoff and Leigh Attenborough took out the trophy from Paul and Jack McGrath, with inaugural winners, Paul and Henry Duregon, coming third. Another 32 pairs entered the Men’s Club Foursomes events held in October, with 13 competing in the 36 hole Club Foursomes Championship won by Andrew Grzybowski and Anthony Olsen. Glenelg played host to the Golf SA Classic and Rene Erichsen 72 hole amateur events again in April with feedback from players, officials and spectators further consolidating Glenelg’s reputation as one of the premier hosting championship golf courses in Australia. In October, Golf SA and Golf Australia held a joint “Golf Week” promotion designed to get more players out onto the golf course. All clubs were invited to participate in the week-long promotion, with Glenelg holding a clinic and sausage sizzle for approximately 20 locals interested in trying out the game. The Club continued to provide support to Golf SA throughout 2013 for state squad training, giving players valuable access to the Club’s outstanding practice facilities. This support, some commercial and some charitable, will be ongoing as we continue to provide the necessary support to ensure South Australia remains a leader in promoting the game of golf and its development. Many of our members represented the state in various activities throughout the year. A full list of outstanding achievements has been listed at the front of the Annual Report, however, the standout performer again in 2013 was Jenny Lee. Runner-up

in the Australian Amateur Championship in January, she fell painstakingly short of her third State Junior Amateur Championship and was narrowly defeated in the Women’s State Amateur Championship final. Jenny continues to be an outstanding ambassador for Glenelg Golf Club and we are sure she will continue to improve over the coming years. Our Junior Development Program was well supported in 2013 with the Junior Tigers Golf Program continuing to introduce new juniors to the game of golf. Clinics on Wednesday afternoons and Sunday mornings consistently attracted 20 or more “Junior Tigers” and we are sure to see an influx of junior members as these participants find themselves ready to join the Club. New pricing structures were introduced for families in line with the Club’s new family friendly strategic goals. A successful trip to 13th Beach Golf Links for our junior pennant squad was held in the April school holidays with ten attending the trip, all players representing the Club in the best possible way. In what was a unique opportunity, all attendees roared with joy in the Tailem Bend BP roadhouse as Adam Scott rolled in his winning putt to take out the US Masters – an outstanding, team-bonding experience that will never be forgotten. The Junior Golf sub-committee was reformed in 2013 with a greater focus on the coordination and supervision of junior events, overseeing and implementing fundraising activities and recommending junior membership and program initiatives. Thanks must go to our Golf Operations team who drive the Club’s junior development program, and those parents who volunteer their time to assist; among them being Brenton Kalz, Vicki Hynes, Fran Brown, Paul Kennewell, Jack Starkey, Jackie Hodgson, Byron Williams and Mark Roberts, and led tirelessly by Committee of Management member, Paul Duregon.

Club Champions Men’s Club Champion Campbell Rawson Women’s Club Champion Jill Hodge Women’s Open Champion Josie Hodge Senior Club Champion Denis Prider Boys’ Club Champion Josh Hayes Girls’ Club Champion Matilda Wheare Men’s Foursomes Champions Andrew Grzybowski and Anthony Olsen Women’s Foursomes Champions Jan Dale-Harris and Jill Hodge Mixed Foursomes Champions Campbell Rawson and Elysia Yap

2013 Sharp Cup (Junior Pennant) team

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by the 2013 NUMBERS

LARGEST DROP in handicap in 2013

JACK TANNER

AGE 13

YOUNGEST member

OLDEST member

1,410

Total member numbers 2013

OTHER 3% MEMBERSHIP 47%

CATERING 23%

TOTAL REVENUES by department

BAR 18% GOLF OPERATIONS 10%

19,484

FUNCTION guests attending 18 WEDDINGS

1,985

187 CONFERENCES

102 FUNCTIONS

39 GOLF DAYS

BOWLS OF HOT CHIPS

43 CLUB EVENTS

purchased in 2013

ADMINISTRATION 18%

CATERING 23%

BEER

34,318 SCHOONERS

TOTAL EXPENSES by department

12,075 PINTS BUTCHERS 2,644

851 JUGS

BAR 15%

16,411

34,449 total number of

COMPETITION

rounds played

LITRES

GOLF COURSE 34%

CONSUMED

most rounds played in competition by a member

165

HOUSE 10%

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Summary of Glenelg Golf Club Foundation Activities for 2013 JUNIOR DEVELOPMENT PROGRAM INCOME Donations: $1,850.00 Foundation Day: Other Income:

$18,635.00 $3,810.00

EXPENDITURE Junior Development: Travel Expenses: CURRENT BALANCE:

$34,770.00

$14,434.00 $8,571.00

Foundation & Heritage Fund • Wayne Grady attendance • Heritage Fund gaining momentum • Fundraising success for junior golf The Glenelg Golf Club Foundation remains a pivotal factor in the growth of our Junior Development Program. The majority of funding for the program comes from donations, fund raising activities and events associated with the Foundation. In 2013, over $23,005 was spent on activities associated with the Junior Development Program. Activities included the partial funding of Junior Tigers Golf Program clinics, individual lessons and entry fees into junior events, assistance with travel and accommodation expenses and costs associated with the 13th Beach Junior Trip held in the April school holidays. Our major fund raising activity, the Glenelg Golf Club Foundation Golf Day, was held in August with special guest, Wayne Grady. In total, $18,635 was raised on the day with all participants enjoying the hospitality of the Club

September First Night Golf event held Inaugural 50-Year Club Luncheon held New uniforms for F&B staff introduced Course renovations carried out

and the banter from Wayne Grady at the dinner. A special thanks must go to Troy Perriam and his company, One Solution Mobile & Data, for their major sponsorship of the day and to all other sponsors for their generous support. A further $5,660 was raised through various other fundraising activities during the year, bringing the overall fundraising tally for the Foundation’s Development of Junior Golf project to $24,295. The Glenelg Golf Club Heritage Fund continues to gain momentum with a closing balance of $22,804 reported as at 31st December 2013. This balance is directly attributable to donations received from Heritage Fund members and interest earned on the balance. A number of members have also joined the Heritage Fund as a result of their bequests. A full list of Heritage Fund members is shown on this page and we thank them for their kind generosity.

Revetting works on 10th greenside bunker New “Chef’s Herb Garden” created behind clubhouse $750k Commercial Bill paid off

October Men’s Club Foursomes Events held Club Junior Championships held Winery Challenge held, new format, with guest speaker, Les Burdett Lynn Cotton replaces Jill Stone as Women’s President Upgrade to 12th tee toilet facilities Twilight Golf commences – slow numbers early due to weather Curry Night replaced by Fish ‘n’ Chip Night for summer Second local Messenger campaign run Golf Week held (joint venture between Golf Australia and Golf SA)

Summary of Heritage Fund activities for 2013 Opening Balance:

$5,000.00

Sunday Breakfasts commence Paul Gander finishes after almost 20 years of service in the Pro Shop

Donations: $16,730.00

November

Interest earned:

Member Information Session held

HERITAGE FUND BALANCE: as at 31st December 2013

$354.00

$22,084.00

Club Championship & Trophy Presentation Dinner held

December

Heritage Fund Members

Securing the Club for Members both now and in the future. 1927 Founders’ Society Sapphire Member OWEN BURGAN (2012)

Club Championships and inaugural Women’s Open Championship held

Heritage Society Members NOEL TAPLIN (2012) JOHN MADDERN AM (2013) GEOFF GITSHAM (2013) GLENELG GOLF LINKS SHAREHOLDERS (2013)

Brewster Brothers Concert held Captain’s Lunch held with guest speakers, Brenton Sanderson and Chester Osborn Christmas Ambrose held Preparations underway for the introduction of the new Golf Australia Handicapping System in January 2014 10th green bunkering works being carried out

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Players in the game No club can be successful without a great team of volunteers and staff. Your Committee of Management has worked with diligence, passion and dedication over the last 12 months to provide members with a strong Club. • Bevan Roberts (Chair of Finance & Strategic Planning) has been a great addition to our team with his business knowledge and wise counsel. • Gavan Fox (Chair of Golf Course) has always provided innovative solutions and provided valuable assistance to Daryl on all course matters. • Paul Duregon (Chair of Membership & Member Focus) has led this area with great passion and much has been introduced and enhanced under Paul’s leadership. • Kay Nyland (Chair of Golf Operations) has excelled in this difficult area and overseen some fun initiatives like Night Golf and added some more variety into our golf program. • Sam Koukourou, Brett Jarrad and Greg Rundle provided invaluable insights and their contributions are greatly appreciated. Women’s Captain, Heather Waddy, and her Vice-Captain, Cathy Johnson, continued to lead a strong and active Women’s sub-committee during the year. Jill Stone completed her term as Women’s President with Lynne Cotton taking over at the women’s general meeting in October. Also joining the sub-committee was Liz Kelton as Vice-President, Louise Pike and Carmel Fairweather, replacing Barb Deed and Glenys Bartlett. Once again, the Club could not operate effectively without the support and assistance received from a long list of sponsors and volunteers. It would not be possible to individually thank everyone for

their support, so I thank all who have, in some way, contributed their time, resources or services to the Club in 2013. There are too many to name, but they are too valuable to ignore. Our course maintenance team, ably led by Daryl Sellar and Graham Stevens, have again done a superb job to present a course of which we can all be proud. The majority of members’ comments continue to be extremely encouraging. We have a course that we are proud to bring our friends and family to and that, I am sure, we all enjoy playing every day. Our food and beverage team, headed by Martin Ardill, continue to impress members and guests with new initiatives, quality cuisine and the excellent level of service expected at our Club. Martin took over the role in January and was given the task of delivering a range of new initiatives to drive the Club’s food and beverage operations. Martin has worked admirably through a difficult year which saw function revenue drop markedly, however recent signs have been positive and, along with his team of Lynn Kschammer (Events Manager), Phil Day (Bar Manager) and our culinary team led by Matt Chapman (Head Chef) and Richard Narria (Second Chef), we look forward to bigger and better things in 2014. Shane Robinson and his staff play a crucial role on the front-line, providing members and visiting golfers with the level of service commensurate with Glenelg’s status in the golfing community, and their efforts are much appreciated. Our world class coaching team, with State and National coach, Gareth Jones, and PGA professional, Adrian Wickstein, have provided valuable assistance and knowledge to many members who have taken the opportunity to learn from the best, whilst Matt Hickman and the casual staff always provide friendly and efficient service in the golf shop. Long

serving pro shop employee, Paul Gander, “retired” during the year after almost 20 years of service. Paul has been a very loyal team member; we wish him all the best in the future and look forward to seeing him at the Club socially. As always, Kerry Crossman and Cathy Symons diligently carried out their administrative duties throughout the year. Our Finance & Administration Manager, Carly Clough, took time out through the first six months of the year with the birth of her third child, Katelyn, however she was very capably substituted by her sister, Hayley Rantanen, and our financial reports continue to be presented accurately and on time month after month. Anthony Olsen continues to grow in his very broad role as Membership and Marketing Manager, identifying new revenue streams through corporate partnerships and sponsorship, whilst still accurately and efficiently managing our lengthy membership list. His work in arranging and organising events such as the Captain’s Luncheons and the Brewster Brothers Concert, in particular, were exemplary and he has also filled in capably as Acting General Manager on numerous occasions during the year. Lastly, of course, all of this would not be possible without a dedicated and capable leader in David Brand. David now presides over a strong departmental management team with an overarching goal of continuous improvement. David is passionate about all aspects of our great Club, which we know is in great hands with David at the helm.

The 19th In summary, 2013 has been a very good year. A lot of our Gameplan objectives were either met or are in progress. We have significantly enhanced our member value with quality additions to our reciprocal club list and introduced some new fun and social initiatives that can be built on in the future. In short, the future looks bright. As we said last year, our Gameplan is set. It is ambitious and challenging, but certainly achievable. We have some great COM and staff who are passionate about our great Club and wish to continue to improve the golf and social experience. They are an extremely capable and committed group and the Club is fortunate in having them directing the future of our Club. Working together, we can be universally known as “The Friendly Fun Club”. My tenure is now coming to a close and I pass the driver to Gavan Fox - another equally committed and passionate friend who will be a straight shooter and aim to be on the fairway. Thank you to all the members and staff of the Club who have provided great support and camaraderie to me over my time as Captain. It has been an honour and a privilege to have been given the opportunity to serve you.

See you on the green.

Obituary We acknowledge the following members who passed away during 2013:

Tony Martin Captain

•

Peter Craigie

•

John Croall

•

Ray Godden

•

Paul Kedgley

•

Glen Lewis OAM

•

Bill Lock

•

Warwick Lumbers

•

Ashley Richards

May they rest in peace. We extend our deepest sympathy to relatives and friends.

Annual Report | Page

GLENELG GOLF CLUB INCORPORATED AND CONTROLLED ENTITY STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2013 Note 2013 $

Consolidated 2012 $

Golf Club 2013 $

2012 $

1,833,332 243,360 291,248 52,204 16,184 2,436,328

1,832,739 226,713 299,145 47,263 14,927 2,420,787

NET INCOME Membership Subscriptions Entrance Fees Infrastructure Levy Bag & Buggy Storage Locker Fees Golf Operations Competition Fees Green Fees Cart Hire Range Income Affiliation Fees Trophies Professional Retainer Depreciation Other Golf Operations Expenses Bar Sales Less Cost of Goods Sold Gross Profit Less Expenditure Salaries and Associated Costs Replacements and Repairs Other Expenses Depreciation Catering Sales Less Cost of Goods Sold Gross Profit Less Expenditure Salaries and Associated Costs Laundry Replacements and Repairs Cleaning Materials Stationery and Advertising Other Expenses Depreciation Other Income Catering Levy forfeited Interest Received Phone Tower Miscellaneous

TOTAL NET INCOME

The accompanying notes form part of these accounts

1,833,332 243,360 291,248 52,204 16,184 2,436,328

1,832,739 226,713 299,145 47,263 14,927 2,420,787

68,247 367,543 69,486 35,034 2,785 (49,537) (115,008) (26,955) (107,771) 243,824

66,562 384,658 69,582 38,655 (107) (43,620) (115,008) (25,225) (119,247) 256,250

68,247 367,543 69,486 35,034 2,785 (49,537) (115,008) (26,955) (107,771) 243,824

66,562 384,658 69,582 38,655 (107) (43,620) (115,008) (25,225) (119,247) 256,250

916,112 (342,780) 573,332

867,332 (336,410) 530,922

916,112 (342,780) 573,332

867,332 (336,410) 530,922

(332,169) (3,470) (36,177) (6,097) 195,419

(368,209) (3,765) (30,366) (6,904) 121,678

(332,169) (3,470) (36,177) (6,097) 195,419

(368,209) (3,765) (30,366) (6,904) 121,678

1,178,562 (452,470) 726,092

1,188,643 (467,964) 720,679

1,178,562 (452,470) 726,092

1,188,643 (467,964) 720,679

(589,978) (23,654) (10,188) (6,049) (7,004) (38,042) (11,420) 39,757

(572,304) (23,882) (8,384) (6,756) (4,811) (25,207) (13,004) 66,331

(589,978) (23,654) (10,188) (6,049) (7,004) (38,042) (11,420) 39,757

(572,304) (23,882) (8,384) (6,756) (4,811) (25,207) (13,004) 66,331

60,118 14,252 46,367 33,206 153,943

55,822 19,006 44,159 40,445 159,432

60,118 14,252 46,367 33,206 153,943

55,822 19,006 44,159 40,445 159,432

3,069,271

3,024,478

3,069,271

3,024,478

GLENELG GOLF CLUB INCORPORATED AND CONTROLLED ENTITY STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2013 Note 2013 $

Consolidated 2012 $

Golf Club 2013 $

2012 $

EXPENDITURE Administration and Support Services Salaries and Associated Costs Audit Fees Advertising Depreciation Finance Costs Bank Charges & Merchant Fees Insurance Postage, Printing and Stationery Telephone Council Rates Legal and Consulting Travel and Accommodation Computer Consumables and Maintenance Other Administration Expenses Course Salaries and Associated Costs Maintenance Power Enhancement Irrigation Landscape Maintenance RIVAP Machinery ASR Expenses Other Expenses Depreciation House Laundry Repairs and Maintenance Contract Cleaning Light, Power and Water Other House Expenses Depreciation Other Expenses (Profit)/Loss on Sale of Fixed Asset Impairment of Financial Asset

TOTAL EXPENDITURE

404,646 8,875 58,490 19,816 148,046 60,448 38,593 27,621 14,567 42,210 2,300 4,434 31,666 39,271 900,983

402,253 8,700 27,463 21,328 176,550 56,473 33,086 26,649 15,076 39,852 1,686 27,978 37,097 874,191

404,646 8,875 58,490 19,816 148,046 60,448 38,593 27,621 14,567 42,210 2,300 4,434 31,666 39,271 900,983

402,253 8,700 27,463 21,328 176,550 56,473 33,086 26,649 15,076 39,852 1,686 27,978 37,097 874,191

821,390 179,402 73,644 22,261 20,430 17,612 510 70,917 22,590 77,775 369,880 1,676,411

841,279 148,687 64,224 35,122 24,160 20,895 1,418 68,221 17,426 50,082 396,329 1,667,843

821,390 179,402 73,644 22,261 20,430 17,612 510 70,917 22,590 77,775 369,880 1,676,411

841,279 148,687 64,224 35,122 24,160 20,895 1,418 68,221 17,426 50,082 396,329 1,667,843

10,873 48,305 89,430 104,024 33,110 200,300 486,042

10,161 42,796 96,347 106,821 26,533 203,193 485,851

10,873 48,305 89,430 104,024 33,110 200,300 486,042

10,161 42,796 96,347 106,821 26,533 203,193 485,851

(14,010) (14,010)

(20,050) (20,050)

(14,010) (14,010)

(20,050) (20,050)

3,049,426

3,007,835

3,049,426

3,007,835

19,845

16,643

19,845

16,643

TOTAL COMPREHENSIVE INCOME FOR YEAR

19,845

16,643

19,845

16,643

TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO EQUITY

19,845

16,643

19,845

16,643

NET SURPLUS / (DEFICIT) Other Comprehensive Income

The accompanying notes form part of these accounts

Annual Report | Page

GLENELG GOLF CLUB INCORPORATED AND CONTROLLED ENTITY STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2013 Note 2013 $

Consolidated 2012 $

Golf Club 2013 $

2012 $

CURRENT ASSETS 2 3

274,740 161,060 87,693 132,353 655,846

193,400 129,356 90,473 131,256 544,485

274,740 161,060 87,693 132,353 655,846

193,400 129,356 90,473 131,256 544,485

4 5

16,500 7,084,585 7,101,085

16,500 7,480,749 7,497,249

625,933 6,455,884 7,081,817

625,933 6,852,048 7,477,981

7,756,931

8,041,734

7,737,663

8,022,466

284,705 163,687 900,433 534,905

353,689 149,217 1,282,565 411,416

284,642 163,687 900,433 534,905

353,626 149,217 1,282,565 411,416

1,883,730

2,196,887

1,883,667

2,196,824

140,505 1,530,864

116,438 1,546,422

140,505 1,530,864

116,438 1,546,422

Total Non-Current Liabilities

1,671,369

1,662,860

1,671,369

1,662,860

TOTAL LIABILITIES

3,555,099

3,859,747

3,555,036

3,859,684

NET ASSETS

4,201,832

4,181,987

4,182,627

4,162,782

Retained Earnings Outside Equity Interests in controlled entity

4,173,585 28,247

4,153,740 28,247

4,182,627 -

4,162,782 -

TOTAL EQUITY

4,201,832

4,181,987

4,182,627

4,162,782

Cash & Cash Equivalents Trade & Other Receivables Other Current Assets Inventories Total Current Assets NON-CURRENT ASSETS Financial Assets Property, Plant and Equipment Total Non-Current Assets TOTAL ASSETS CURRENT LIABILITIES Trade & Other Payables Short-Term Provisions Short-Term Borrowings Other Current Liabilities

6 7a 8a 10

Total Current Liabilities NON-CURRENT LIABILITIES Long-Term Provisions Long-Term Borrowings

7b 8b

EQUITY

The accompanying notes form part of these accounts

GLENELG GOLF CLUB INCORPORATED AND CONTROLLED ENTITY STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2013 Retained Earnings $

Outside Equity Interest $

Total $

Consolidated Entity Balance at 1 January 2013 Profit attributable to members of controlling entity

4,153,740 19,845

28,247 -

4,181,987 19,845

Balance at 31 December 2013

4,173,585

28,247

4,201,832

Balance at 1 January 2013 Profit attributable to members of controlling entity

4,162,782 19,845

Balance at 31 December 2013

4,182,627

Balance at 1 January 2012 Profit attributable to members of controlling entity

4,137,097 16,643

28,247 -

4,165,344 16,643

Balance at 31 December 2012

4,153,740

28,247

4,181,987

Balance at 1 January 2012 Profit attributable to members ofcontrolling entity

4,146,139 16,643

Balance at 31 December 2012

4,162,782

Controlling Entity

Year End 2012 Consolidated Entity

Year End 2012 Controlling Entity

The accompanying notes form part of these accounts

Annual Report | Page

GLENELG GOLF CLUB INCORPORATED AND CONTROLLED ENTITY STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2013 Note 2013 $

Consolidated 2012 $

Golf Club 2013 $

2012 $

2,094,674 2,404,624 540,310 (4,342,173) (148,046) 153,943

2,055,975 2,385,991 559,457 (4,284,374) (176,550) 159,432

CASH FLOWS FROM OPERATING ACTIVITIES 2,094,674 2,404,624 540,310 (4,342,173) (148,046) 153,943

Bar and Catering Sales Subscriptions and Entrance Fees Green Fees and Competition Fees Payments to Suppliers and Employees Interest Paid Donations, Fundraising and Other Sundry Receipts NET CASH INFLOW FROM OPERATING ACTIVITIES

2,055,975 2,385,991 559,457 (4,284,374) (176,550) 159,432

703,332

699,931

703,332

699,931

Payments for Property, Plant and Equipment Proceeds from Sale of Property, Plant and Equipment Conversion of cash deposit to equity in investment

(245,391) 21,089 -

(349,383) 21,909 -

(245,391) 21,089 -

(349,383) 21,909 -

NET CASH (OUTFLOW) FROM INVESTING ACTIVITIES

(224,302)

(327,474)

(224,302)

(327,474)

Repayment of Borrowing Additional Lease Established Repayment of Bank Loan Debentures Repaid

(94,190) 46,500 (350,000) -

(121,638) 62,800 (300,000) -

(94,190) 46,500 (350,000) -

(121,638) 62,800 (300,000) -

NET CASH PROVIDED INFLOW (OUTFLOW) FROM FINANCING ACTIVITIES

(397,690)

(358,838)

(397,690)

(358,838)

81,340

13,619

81,340

13,619

193,400

179,781

193,400

179,781

274,740

193,400

274,740

193,400

CASH FLOWS FROM INVESTING ACTIVITIES

CASH FLOWS FROM FINANCING ACTIVITIES

NET INCREASE / (DECREASE) IN CASH HELD Cash at Beginning of Year Cash at End of Year

The accompanying notes form part of these accounts

GLENELG GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2013 NOTE 1 - STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES The financial report is a general purpose financial report that has been prepared in accordance with Australian Accounting Standards, Australian Accounting Interpretations, other authoritative pronouncements of the Australian Accounting Standards Board and the requirements of the Associations Incorporations Act of South Australia. The financial report covers the consolidated entity of Glenelg Golf Club Inc as the individual controlling entity and the controlled entity, Glenelg Golf Links Limited. The financial report of Glenelg Golf Club Inc and the controlled entity and Glenelg Golf Club Inc as an individual controlling entity comply with all Australian equivalents to International Financial Reporting Standards (IFRS) in their entirety except where compliance is not mandatory for non-corporate entities. The following is a summary of the material accounting policies adopted by the consolidated entity in preparation of the financial report. The accounting policies have been consistently applied unless otherwise stated. The financial report has been prepared on an accrual basis and is based on historical costs and does not take into account changing money values or, except where stated, current valuations of non-current assets. Cost is based on the fair values of the consideration given in exchange for assets. Unless otherwise stated, the accounting policies adopted are consistent with those of the previous year. Certain new accounting standards and interpretations have been published that are not mandatory for 31 December 2013 reporting periods. The consolidated entity's assessment is that there will be no impact from these new standards and interpretations. a)

Principles of Consolidation The Club controls the share capital of Glenelg Golf Links Limited. The consolidated accounts incorporated the assets and liabilities of Glenelg Golf Links Limited as at 31 December 2013 and the results of the Company for the period then ended. The effects of all transactions between the Club and the Company are eliminated in full. Outside equity interests in the results and group equity are shown separately in the consolidated profit and loss account and balance sheet respectively. The cost of acquiring shares in Glenelg Golf Links Limited have been accounted for as an interest in the land owned by that company and reflected accordingly.

Financial Instruments Financial instruments are initially measured at cost on trade date, which includes transaction costs, when the related contractual rights or obligations exist. Subsequent to initial recognition these instruments are measured as set out below: Available-for-sale financial assets Available-for-sale financial assets include any financial assets that are not considered to be "loans and receivables" or held for selling in the short term. Available-for-sale financial assets are reflected at fair value. Where fair value cannot be reliably estimated, the asset is stated at its initial cost. Unrealised gains and losses arising from changes in fair value are taken directly to equity. Financial Liabilities Non-derivative financial liabilities are recognised at amortised cost, comprising original debt less principal payments and amortisation.

Annual Report | Page

GLENELG GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2013 NOTE 1 - STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES c)

Property, Plant and Equipment Each class of property, plant and equipment is carried at cost less, where applicable, any accumulated depreciation and impairment losses. Property Freehold land is shown at cost. Building is shown at cost less any accumulated depreciation and impairment losses. Plant and Equipment The depreciable amount of all fixed assets including building, but excluding freehold land, is depreciated on a straight line basis over their useful lives to the consolidated entity commencing from the time the asset is held ready for use. The depreciation rates for each class of depreciable assets are based on the following estimated useful lives, expressed in years: Category Administration furniture and fittings Bar plant and equipment Catering plant and equipment Clubhouse building Clubhouse other Course buildings House plant and equipment Motor vehicles Office equipment Course plant and equipment Entrance road

Useful Lives 5-11 8-11 7-11 40-50 7-11 4-25 8-11 4-5 5-7.5 4-11 15

Impairment of Assets At each reporting date, the Committee of Management reviews the carrying values of its 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 income statement. Where it is not possible to determine the recoverable amount of an individual asset, the Committee of Management estimates the recoverable amount of the cash-generating unit to which the asset belongs.

GLENELG GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2013 NOTE 1 - STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES e)

Employee Benefits Provision is made for the association's liability for employee benefits arising from services rendered by employees to balance date. Employee entitlements expected to be settled within one year together with entitlements arising from wages and salaries, annual leave and long service leave which will be settled after one year, have been measured at their nominal amount. Other employee entitlements payable later than one year have been measured at the present value of the estimated future cash outflows to be made for those entitlements.

Subscription Income Members subscriptions are included as income in the year the invoice is raised. Subscription year is from April of the current year to March of the following year. Any subscription fees invoiced for the quarter of January to March of the following year is recognised as income of the current year. This has been treated consistently from year to year.

Income Tax The Club is exempt from Income Tax in accordance with Section 50-5 of the Income Tax Assessment Act, 1997.

Inventories Inventories are measured at the lower of cost and net realisable value.

Course Redevelopment Expenditure Expenditure incurred on redevelopment of the course is charged to operating profit as incurred.

Construction - Work In Progress Construction work in progress is stated at the aggregate of contract costs incurred to date.

Cash and cash equivalents Cash and cash equivalents include cash on hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within short-term borrowings in current liabilities on the balance sheet.

Comparative Figures When required by Accounting Standards, comparative figures have been adjusted to conform to changes in presentation for the current financial year.

Annual Report | Page

GLENELG GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2013 Note 2013 $

Consolidated 2012 $

Golf Club 2013 $

2012 $

NOTE 2 - CASH & CASH EQUIVALENTS Cash at Bank Cash on Hand Heritage Fund - Bank Account

238,456 14,200 22,084 274,740

181,389 12,011 193,400

238,456 14,200 22,084 274,740

181,389 12,011 193,400

The effective interest rate on short-term bank deposits was 7.26% (2012: 7.76%); these deposits have an average maturity of 20 days. Reconciliation of Cash Cash at the end of the financial year as shown in the statement of cash flows is reconciled to items in the balance sheet as follows: Cash & Cash Equivalents

274,740

193,400

274,740

193,400

41,786 57,034 62,240 161,060

20,405 48,858 60,093 129,356

41,786 57,034 62,240 161,060

20,405 48,858 60,093 129,356

16,500 16,500

608,328 16,500 1,105 625,933

NOTE 3 - TRADE & OTHER RECEIVABLES Subscription Debtors Sundry Debtors GST Input Tax Credits

NOTE 4 - FINANCIAL ASSETS Available for sale financial assets comprise of: Shares - Glenelg Golf Links Ltd Premium Income Fund Provision for Impairment - Premium Income Fund Loan - Glenelg Golf Links Ltd Total Financial Assets (a)

The Club has an investment in the following: 250,000 units in the Premium Income Fund, which is a managed investment scheme managed by Wellington Capital; and 250,000 shares in Asset Resolution Limited. Whilst the Premium Income Fund is listed, the shares in ARL are not, so an exact carrying value is not available, so there has been no adjustment for impairment ($150,000 in 2009, $83,500 in 2010, nil in 2011, nil in 2012).

GLENELG GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2013 Note 2013 $

Consolidated 2012 $

Golf Club 2013 $

2012 $

NOTE 5 - PROPERTY, PLANT AND EQUIPMENT Freehold land

628,704

6,017,068 (1,404,458) 4,612,610

6,017,068 (1,237,318) 4,779,750

6,017,068 (1,404,458) 4,612,610

6,017,068 (1,237,318) 4,779,750

Clubhouse Plant and Equipment Less Accumulated Depreciation

363,757 (278,797) 84,960

303,767 (245,680) 58,087

363,757 (278,797) 84,960

303,767 (245,680) 58,087

Course Buildings Less Accumulated Depreciation

366,919 (194,816) 172,103

330,818 (162,896) 167,922

366,919 (194,816) 172,103

330,818 (162,896) 167,922

Administration Plant and Equipment Less Accumulated Depreciation

279,151 (249,260) 29,891

260,560 (229,444) 31,116

279,151 (249,260) 29,891

260,560 (229,444) 31,116

Bar Plant and Equipment Less Accumulated Depreciation

149,742 (130,292) 19,450

143,982 (124,193) 19,789

149,742 (130,292) 19,450

143,982 (124,193) 19,789

Catering Plant and Equipment Less Accumulated Depreciation

272,669 (225,261) 47,408

249,982 (213,839) 36,143

272,669 (225,261) 47,408

249,982 (213,839) 36,143

Motor Vehicles Less Accumulated Depreciation

131,033 (55,689) 75,344

136,805 (77,294) 59,511

131,033 (55,689) 75,344

136,805 (77,294) 59,511

Course Plant and Equipment Less Accumulated Depreciation

4,254,961 (2,915,016) 1,339,945

4,235,196 (2,633,663) 1,601,533

4,241,748 (2,901,800) 1,339,948

4,221,983 (2,620,447) 1,601,536

Entrance Road Less Accumulated Depreciation

273,697 (215,313) 58,384

273,697 (198,928) 74,769

273,697 (215,313) 58,384

273,697 (198,928) 74,769

Capital Improvements Less Accumulated Depreciation

1,163 (881) 282

1,163 (839) 324

1,163 (881) 282

1,163 (839) 324

Range Assets Less Accumulated Depreciation

35,821 (20,317) 15,504

35,821 (12,720) 23,101

35,821 (20,317) 15,504

35,821 (12,720) 23,101

Clubhouse Less Accumulated Depreciation

TOTAL PROPERTY, PLANT AND EQUIPMENT

7,084,585

7,480,749

6,455,884

6,852,048

Annual Report | Page

GLENELG GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2013 NOTE 5 - PROPERTY, PLANT AND EQUIPMENT (CONT.) b)

Movement in Carrying amount Movement in the carrying amounts for each class of property, plant and equipment between the beginning and the end of the current financial year. Golf Club

Carrying amounts at 1 January 2013

Clubhouse Clubhouse Plant & Equipment Course Buildings Administration Plant & Equipment Bar & Plant Equipment Catering Plant & Equipment Motor Vehicles Course Plant & Equipment Entrance Road Range Assets Capital Improvements

4,779,750 58,087 167,922 31,116 19,789 36,143 59,511 1,601,536 74,769 23,101 324 6,852,048

Additions

59,990 36,102 18,592 5,760 22,687 42,273 59,987 245,391

Disposals

(48,045) (40,223) (88,268)

Carrying Write Back of amount at 31 December Accumulated 2013 Depreciation Depreciation

(167,140) (33,117) (31,921) (19,817) (6,099) (11,422) (19,361) (321,575) (16,385) (7,597) (42) (634,476)

40,966 40,223 81,189

4,612,610 84,960 172,103 29,891 19,450 47,408 75,344 1,339,948 58,384 15,504 282 6,455,884

Consolidated Entity

Carrying amounts at 1 January 2013

Freehold Land Clubhouse Clubhouse Plant & Equipment Course Buildings Administration Plant & Equipment Bar & Plant Equipment Catering Plant & Equipment Motor Vehicles Course Plant & Equipment Entrance Road Range Assets Capital Improvements

628,704 4,779,750 58,087 167,922 31,116 19,789 36,143 59,511 1,601,533 74,769 23,101 324 7,480,749

Additions

59,990 36,102 18,592 5,760 22,687 42,273 59,987 245,391

Disposals

(48,045) (40,223) (88,268)

Impairment Losses Total impairment loss recognised in the income statement during the year is nil.

Carrying Write Back of amount at 31 December Accumulated 2013 Depreciation Depreciation

(167,140) (33,117) (31,921) (19,817) (6,099) (11,422) (19,361) (321,575) (16,385) (7,597) (42) (634,476)

40,966 40,223 81,189

628,704 4,612,610 84,960 172,103 29,891 19,450 47,408 75,344 1,339,945 58,384 15,504 282 7,084,585

GLENELG GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2013

2013 $

Consolidated 2012 $

Golf Club 2013 $

2012 $

NOTE 6 - TRADE & OTHER PAYABLES Trade Creditors Other Creditors

200,552 84,153 284,705

270,623 83,066 353,689

200,552 84,090 284,642

270,623 83,003 353,626

149,217 69,016 (54,546) 163,687

154,808 124,087 (129,678) 149,217

149,217 69,016 (54,546) 163,687

154,808 124,087 (129,678) 149,217

116,438 30,855 (6,788) 140,505

113,724 26,369 (23,655) 116,438

116,438 30,855 (6,788) 140,505

113,724 26,369 (23,655) 116,438

NOTE 7 - PROVISIONS (a)

SHORT-TERM PROVISIONS

Annual Leave Opening Balance Additional Provisions Raised Amounts Used

(b)

LONG-TERM PROVISIONS

Long Service Leave Opening Balance Additional Provisions Raised Amounts Used

NOTE 8 - BORROWINGS (a)

SHORT-TERM BORROWINGS

Bank Loan Hire Purchase

(b)

850,000 50,433 900,433

1,200,000 82,565 1,282,565

850,000 50,433 900,433

1,200,000 82,565 1,282,565

1,500,000 29,864 1,000 1,530,864

1,500,000 45,422 1,000 1,546,422

1,500,000 29,864 1,000 1,530,864

1,500,000 45,422 1,000 1,546,422

LONG-TERM BORROWINGS

Bank loan Hire Purchase Debentures

The Club has a loan facility of $2,750,000 which is secured by registered mortgages over land owned by Glenelg Golf Links Limited. At 31 December 2013, $2,350,000 of the Club's facility was utilised ($2,700,000 in 2012). $1,200,000 of the loan facilities is offset for interest purposes by the balance held in the Club's transaction account. This means the interest on the $1,200,000 is only payable once the balance on hand falls below $1,200,000.

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GLENELG GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2013

2013 $

Consolidated 2012 $

Golf Club 2013 $

2012 $

NOTE 9 - CAPITAL & LEASING COMMITMENTS Hire Purchase Lease Commitments Payable - minimum lease payments not later than 12 months between 12 months & 5 years greater than 5 years Minimum Lease Payments

57,072 33,488 90,560

93,910 52,544 146,454

57,072 33,488 90,560

93,910 52,544 146,454

Less Future Finance Charges Present Value of Minimum Lease Payments

(10,263) 80,297

(18,467) 127,987

(10,263) 80,297

(18,467) 127,987

Operating Lease Commitment - Toro Equipment Payable - minimum lease payments not later than 12 months between 12 months & 5 years Minimum Lease Payments

33,285 100,427 133,712

16,573 40,051 56,624

33,285 100,427 133,712

16,573 40,051 56,624

66,700 16,492 203,265 26,759 27,087 33,169 103,144 36,205 22,084 534,905

25,800 18,500 149,423 23,872 32,108 32,894 89,951 33,868 5,000 411,416

66,700 16,492 203,265 26,759 27,087 33,169 103,144 36,205 22,084 534,905

25,800 18,500 149,423 23,872 32,108 32,894 89,951 33,868 5,000 411,416

19,845

16,643

19,845

16,643

Non cash flows in profit from ordinary activities Depreciation Impairment of Financial Asset Provision for Employee Benefits (Profit)/Loss on Sale of Non Current Assets

634,476 38,537 (14,010)

665,976 (2,877) (20,050)

634,476 38,537 (14,010)

665,976 (2,877) (20,050)

Changes in Assets and Liabilities (Increase)/Decrease in Debtors Movement in Loans to Glenelg Golf Links Increase/(Decrease) in Trade Creditors and Accrued Expenses (Increase)/Decrease in Prepayments (Increase)/Decrease in Stock

(31,704) 54,505 2,780 (1,097)

(34,796) 123,599 (25,041) (23,523)

(31,704) 54,505 2,780 (1,097)

(34,796) 123,599 (25,041) (23,523)

703,332

699,931

703,332

699,931

NOTE 10 - OTHER CURRENT LIABILITIES Catering Deposits Green Fee Deposits Catering levy unabsorbed Wallet account Trophy account PAYG Tax Sundry GST Payable Foundation Heritage Fund

NOTE 11 - RECONCILIATION OF CASH FLOW FROM OPERATIONS WITH PROFIT FROM OPERATING ACTIVITIES PROFIT FROM ORDINARY ACTIVITIES

NET CASH INFLOW FROM OPERATING ACTIVITIES

GLENELG GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2013 NOTE 12 - FINANCIAL INSTRUMENTS (a)

Interest Rate Risk The Club's exposure to interest rate risk, which is the risk that a financial instrument's value will fluctuate as a result of changes in market interest rates and the effective weighted average on those financial assets and liabilities, is as follows: Weighted Average Effective Interest Rate 2013 2012 % % Financial Assets Cash at Bank Cash on Deposit

Financial Liabilities Borrowings

7.26

4.45

7.76

6.14

Fixed Interest Rate Maturing

Floating Interest Rate

Within 1 Year 2013 2012 $ $

2013 $

2012 $

238,456 238,456

181,389 181,389 -

1 to 5 Years 2013 2012 $ $

900,433 900,433

1,282,565 1,282,565

1,530,864 1,530,864

1,546,422 1,546,422

While it is noted that some of the Club's debt has become payable within the next 12 months, it is intended that a portion of this debt facility will be finalised in 2014. (b)

Credit Risk The maximum exposure to credit risk, excluding the value of any collateral or other security, at balance date to recognised financial assets is the carrying amount, net of any provisions for doubtful debts, as disclosed in the Balance Sheet and notes to the financial statements.

(c)

Net Fair Values The aggregate net fair values and carrying amounts of financial assets and financial liabilities are not materially different from those disclosed in the Balance Sheet and in the notes to and forming part of the accounts.

(d)

The Club has performed a sensitivity analysis relating to its exposure to interest rate risk at balance date. The sensitivity analysis demonstrates the effect on the current year results and equity which could result from a change in these risks. At 31 December 2013, the effect on profit and equity as a result of changes in the interest rate, with all other variables remaining constant would be as follows: Consolidated Golf Club 2013 2012 2013 2012 $ $ $ $ Change in Profit Increase in the interest rate by 2% $ (48,626) $ (56,580) $ (48,626) $ (56,580) Decrease in the interest rate by 2% $ 48,626 $ 56,580 $ 48,626 $ 56,580 Change in Equity Increase in the interest rate by 2% Decrease in the interest rate by 2%

$ $

(48,626) $ 48,626 $

(56,580) $ 56,580 $

(48,626) $ 48,626 $

(56,580) 56,580

NOTE 13 - AUDITOR'S REMUNERATION Remuneration of the auditor of the parent entity for: Auditing & Reviewing the financial report

8,875 8,875

8,700 8,700

8,875 8,875

8,700 8,700

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GLENELG GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2013 NOTE 14 - RELATED PARTIES (a)

The Club paid rent of $0 to Glenelg Golf Links Limited in which it has a majority shareholding, for use of the Golf Course (2012 - $0).

(b)

The names of the persons who were officers of Glenelg Golf Club Incorporated at any time during the year ended 31 December 2013 are as follows: Anthony J. Martin Gavan M. Fox Paul Duregon Brett D. Jarrad Sam Koukourou Kay Nyland Gerard P. O'Brien Bevan Roberts Greg C. Rundle

(Captain) (Vice Captain) Re-elected March 2013

Resigned March 2013 Re-elected March 2013 Appointed April 2013

During the year the following related party transactions occurred: 1

Paul Duregon's company received payments under normal commercial conditions for maintenance works performed by PASA Building sub-contractors.

NOTE 15 - CONTINGENT LIABILITIES The Club's objection to the land tax assessment for 2012/13 was upheld and therefore no expense or accrual has been recognised in relation to 2013/14 land tax. The Club understands that Revenue SA intends to review the eligibility for an exemption from land tax at the end of each financial year. NOTE 16 - AFTER BALANCE DATE EVENTS No matters or circumstances have arisen since the end of the financial year which significantly affected or may significantly affect the operations of the entity, the results of those operations, or the state of affairs of the entity in future financial years. NOTE 17 - ASSOCIATION DETAILS The principal place of business of the association is 20-118 James Melrose Road, Novar Gardens.

GLENELG GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2013 NOTE 18 - CAPITAL EXPENDITURE COMMITMENTS $ Capital expenditure commitments contracted for: Plant & Equipment Purchases Capital Expenditure Projects

Payable: not later than 12 months between 12 months and five years greater than 5 years

The committee members control the capital of the Club in order to maintain a good debt-to-equity ratio and to ensure that the Club can fund its operations to continue as a going concern. The Club's debt and capital includes financial liablities, supported by financial assets. There are no externally imposed capital requirements. The committee members effectively manage the Club's capital by assessing the Club's financial risks and adjusting its capital structure in response to changes in these risks and in the market. The responses include the management of debt levels. There have been no changes in the strategy adopted by management to control the capital of the Club since the prior year. This strategy is to ensure that there is sufficient cash to meet trade and sundry payables and borrowings. 2013

2012

NOTE 19 - CONTROLLED ENTITIES Country of Incorporation Parent Entity Glenelg Golf Club Inc Subsidiary Glenelg Golf Links Ltd

Percentage owned (%)*

Australia Australia

*percentage of voting power in proportion to ownership

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GLENELG GOLF CLUB INCORPORATED STATEMENT BY COMMITTEE

In the opinion of the Committee of Management of Glenelg Golf Club Incorporated: (a)

The attached consolidated statements of Glenelg Golf Club Incorporated, comprising the balance sheet, income statement, statement of changes in equity, statement of cash flows and notes to the financial statements for the year ended 31 December 2013 are, in our opinion, properly drawn up so as to give a true and fair view of the state of affairs of the Club and the consolidated entity as at 31 December 2013, and of their results for the year then ended.

(b)

At the date of this statement there are reasonable grounds to believe that the Club will be able to pay its debts as and when they fall due.

The accounts have been made out in accordance with applicable Accounting Standards. In accordance with section 35(5) of the Associations Incorporations Act, 1985, the Committee of Glenelg Golf Club Incorporated hereby states that during the financial year ended 31 December 2013: 1.

Paul Duregon's company received payments under normal commercial conditions for maintenance works performed by PASA Building sub-contractors.

This report is made in accordance with a resolution of the Committee of Management and signed by two Members of the Committee. Dated this 28th day of January, 2014.

TONY MARTIN Captain

GAVAN FOX Vice Captain

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James Melrose Road NOVAR GARDENS SA 5040 Phone: (08) 8295 3793 Fax: (08) 8294 8894 www.glenelggolf.com reception@glenelggolf.com