2015 Annual Report by Glenelg Golf Club

2015 Annual Report PROUD | PROGRESSIVE | CHALLENGING

GLENELG GOLF CLUB INCORPORATED | ABN 94 199 789 857

Front & back covers: A firery sunset basks golden light across the 18th green and clubhouse .

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 itâ&#x20AC;&#x2122;s 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.

2015 Annual Report

Above: Stunning late evening view back down the 7th hole.

OFFICE BEARERS CAPTAIN

Mr Gavan Fox

VICE CAPTAIN

Mr Paul Duregon

PRESIDENT

Mrs Helen McMutrie

VICE PRESIDENTS

Mr John Rawson Mr Ian Symons

COMMITTEE OF MANAGEMENT

Mr Michael Adair Mr Brett Jarrad Mrs Kay Nyland Mr John Ranaldo Mr Bevan Roberts Mr Greg Rundle

KEY MANAGEMENT PERSONNEL

2015 Annual Report

GENERAL MANAGER

Mr David Brand

HEAD PROFESSIONAL

Mr Shane Robinson

COURSE SUPERINTENDENT

Mr Daryl Sellar

COMMITTEE MEETING ATTENDANCE Attendance at Committee of Management meetings for the year ended 31 December 2015 Gavan M. Fox (Captain)

Paul B. Duregon (Vice Captain)

Michael S. Adair (re-elected March 2015)

Brett D. Jarrad

Kay Nyland (re-elected March 2015)

John Ranaldo

Bevan Roberts

Greg C. Rundle

A total of twelve (12) Committee of Management meetings were held for the year ended 31 December 2015.

2015 Annual Report

CAPTAIN’S REPORT For the year ending 31st December 2015 It gives me great pleasure to present the 2015 Captain’s Report to members of Glenelg Golf Club. 2015 was another successful year for Glenelg Golf Club. Our course ranking, as rated by Golf Australia Magazine, rose to 25th in Australia, even with two new courses entering the charts. This is a testament to our great course and also to the way we receive and welcome visitors; something that, as members, you should be proud of. On a financial basis, the Club had a good year. We undertook some significant projects of a capital nature such as the western car park redevelopment, continued to reduce our debt level and reported an operating surplus. This is all good news and thanks go to members and guests for your patience during the periods of disruption when some of these works were being undertaken. Our Club has never been one that has stood still. Previous committees have judiciously, and with great foresight, implemented a progressive and manageable culture of change that has seen our Club grow to become 4

2015 Annual Report

one of the premier private golf clubs in Australia. In particular, the past 15-20 years has seen significant growth and an extensive capital expenditure program to ensure our world class facilities continue to be the best available for our members. Membership remains one of our significant focuses and we continued to attract new members to the Club in 2015. We encourage you all to be ambassadors for Glenelg and keep introducing potential members to the Club. We have a great range of membership options available and, if you are not familiar with the current types of membership, please take a moment to look on the website or drop by the Club’s Administration Office. As members, you know that Glenelg Golf Club is about more than just golf; we are a vibrant, busy venue which members, guests and visitors use as a destination for socialising, dining, functions, corporate events and weddings – all of which assist significantly in sustaining the Club’s financial viability. I thank you for your support of our Club off the golf

course and encourage you to continue to enjoy our magnificent facility. Additionally, it would be great if you let others know about our extensive range of capabilities. I hope you enjoy reading about the activities of the Club in 2015 and I look forward to seeing many of you on our wonderful golf course in the coming year.

Gavan Fox CAPTAIN

Below: A late afternoon look back down the short par 5 12th hole.

FINANCE The year ending 31st December 2015 reported a total operating surplus of $44,040. Total equity increased to $4,388,754 whilst the Club’s cash position decreased by $67,819 with $286,222 available as at 31st December 2015. Cash flow generated from operating activities of $728,259 funded the Club’s debt reduction and capital expenditure programs for the year. The Club once again met its planned debt reduction program with $300,000 reduced off the Club’s loan facilities and $51,156 used to reduce operating debt associated with hire purchases and lease agreements. When accounting for this, the Club reduced its total borrowings to $1,752,346. Refinancing arrangements with the ANZ Bank saw the Club’s total loan facility reduced from $2.7m to $2.2m, of which $1.7m of the facility was utilised at 31st December 2015. The redevelopment of the western car park was a key project in 2015 with an overall cost exceeding $200,000.

A further $193,311 was allocated to smaller projects including an upgrade of the driving range building as a teaching studio, new dining room and conference room chairs, new carpets in the Golfers Bar and Entry Foyer areas and an upgraded AV/PA system in the Members Lounge. Results across membership and golf operations were excellent, although the year was hampered by less than expected positive results within the Club’s food and beverage operations. Total bar sales grew 3% to $1,063,445 with the majority of growth seen in general member and function sales. A 14% drop in wedding revenue, due to a reduction in wedding numbers, impacted the revenue line. As a service to members and guests, the Club increased operating hours during the year. This, along with changes in personnel, proved problematic with increased labour costs in bar equating to an approximate $50k reduction in the bottom line result whilst wage costs were relatively stable in catering.

Combined, bar and catering posted a net operating profit of $300,625, meeting our KPI target of achieving a $300k contribution from food and beverage. Membership revenue was positive for a third consecutive year, despite another expected reduction in FME numbers. Subscription revenue totalled $1,938,190, an increase of 3% over 2014 figures. FME numbers as at 31st December 2015 were 892.7 compared with 931.8 in 2014 - a membership retention rate of 95.8%. The FME reduction was reflected in Infrastructure Levy revenue received of $268,787 (down from $282,507 in 2014), all of which was allocated to the Club’s debt reduction program. Entrance fee revenue totalled $191,526, which was down 15%, although there was a trend towards payment of entrance fees using our 3 and 5 year instalment plans. Total green fee revenue grew with general green fee income up 16% and a 12% increase in corporate golf day revenue, depsite hosting less golf days. Overall, $415,896 was generated in green fee revenue, easily

2015 Annual Report

The introduction of free range balls has been a popular membership service

The redevelopment of the western car park was a key project in 2015

exceeding the Club’s KPI target of $380k. A similar increase in cart hire saw total golf operations revenue of $593,695, 8.5% higher than 2014 even with the loss of range income through the introduction of our free range ball service.

Trade and other payables for year-end totalled $540,439, compared with $431,200 in 2014, with the western car park redevelopment project completed in November 2015, but carried over for payment in January 2016.

Overall, total net income decreased by 1.2% to $3,171,980.

The Club continues to hold 250,000 units in the Premium Income Fund (PIF) and 1,250 shares in Asset Resolution Limited. A consolidation of ARL occurred in December 2015 on the basis that every 200 existing shares would be consolidated to one (1) share, therefore reducing our holding from 250,000 in 2014 to 1,250 in 2015. A capital return of $2,250 was received from ARL during the 2015 year, thus reducing the carrying value of the Club’s investment from $14,000 (2014) to $11,750 (2015).

Total expenditure grew 2% to $3,127,940, much of which was influenced by increased course salaries and wages, with FTE numbers increasing from 11.5 to 13 in order to maintain and improve the condition of the golf course. House expenses also increased due to changes to the Club’s contract cleaning arrangements and higher maintenance costs of our ageing house plant and equipment. Administration expenses fell 2.5%, influenced by reduced finance costs of $45,190. A move towards electronic communication methods saw a reduction in postage, printing and stationery whilst advertising costs grew more than 50% as we embarked on more aggressive marketing campaigns to develop new and improve on existing revenue streams.

2015 Annual Report

GOLF COURSE Minimal course works were undertaken during 2015. Instead, the Committee of Management and course maintenance team focussed their attention on smaller projects needed to refine and enhance the golf course.

2013 Masters Champion, Adam Scott, was an unexpected guest in January

Antonio Murdaca and Gareth Jones talking at the May Captain’s Lunch

Our ongoing bunker refurbishment program saw greenside bunker works on the 1st and 18th holes and further attention given to entry and exit points on holes 3, 4 and 5. Small paving projects were completed adjacent the 4th and 12th tees whilst concrete kerbing, tree removal and pathway realignment works were undertaken on the 8th. Paths continue to cause frustration for the course maintenance team and Committee of Management. Turf remains the preferred option as it is more efficient to maintain than most materials and integrates well with playing surfaces However, increasing golf traffic has seen a change in strategy with a number of paths identified for replacement with

With a surge in interest from members utilising our expert team of teaching professionals, the Club invested in an upgrade of the driving range building as a teaching studio.

paving. Works on 4 and 12 proved successful pilot projects and will now be rolled out across other areas over coming years. To mark the 100th anniversary of the Anzac landings at Gallipoli, the Club undertook a restoration of the Anzac Memorial Tree and surrounding environs. New landscaping was introduced to better reflect the Lone Pine Memorial on the Gallipoli Peninsula and the minor relocation of the Anzac Memorial seat. The tree itself was pruned to prevent it inhibiting play on the 10th hole and seeds have been collected and propagated into new seedlings for use in other areas of the golf course to ensure the continuity of this important tradition. In recent years the Club has seen a significant rise in golfing, function and dining activity placing regular pressure on our limited car parking capacity. Feedback had also identified car parking as one of our members’ key concerns. As a result, the Committee of Management committed to a major redevelopment of the western car park to increase

parking capacity and enhance the presentation of the Club’s main entry point. Preliminary earthworks were completed in September with major civil works undertaken by Fulton Hogan through October and November. The project was a significant investment for the Club, costing in excess of $200,000, however the end result has increased capacity by almost 50%, improved the experience for members and guests, and provided the Club with a substantial asset that will further enhance our position as one of the premier private member golf clubs and function centres in Australia. Our annual course renovation work was undertaken in early September with a decision made to close the course for two days enabling more to be completed and providing less disruption to members on other days. As a novelty, “Big Holes” were used immediately following the two-day closure given the usual difficulty negotiating core holes and sand on the greens. Mixed feedback was received, although generally positive,

and as a result, this will become a regular arrangement in future years. As previously mentioned, Glenelg’s standing in Australia climbed once again, improving three places to 25th in Golf Australia Magazine’s Top 100 golf course rankings. The move saw the Club leapfrog Kooyonga’s ranking of 26, effectively recognising Glenelg as the second best golf course in South Australia behind Royal Adelaide. We continually receive feedback from members, guests and others who test their skills on our demanding layout complimenting the extraordinary condition and strategic nature of our golf course. The Club’s reputation within the golf industry continues to grow with many visiting players declaring Glenelg to be the best golf course in South Australia. There is no doubt that our golf course continues to improve year on year and this is to the absolute credit of the course maintenance team who deliver a world class golfing experience. Fittingly, and in recognition of this work, Daryl Sellar was presented with the 2015 SA Golf Course

2015 Annual Report

Superintendents Association Excellence in Turf Management Award at the SA Golf Industry Awards Night in October.

CLUBHOUSE, FOOD & BEVERAGE Our food and beverage operation continues to be a key component of the Club’s business, offering members a regular opportunity to enjoy a beer, a burger, a pizza or a steak with friends and family, exchange stories of their golfing prowess, and to generally relax and enjoy the views available across the golf course. The Committee of Management, in conjunction with key management staff, made a decision to expand Pinehill Bistro hours to include Wednesday nights all year round, in addition to the already popular Thursday and Friday night options. We also saw the first full year of weekend breakfast operations.

Despite some quiet periods, particularly during the winter months, our Pinehill Bistro operations saw a pleasing 5.5% increase in sales

Adelaide Oval in November. The Club was also a finalist in the Best Club Operations and Best Sporting Club awards, although unsuccessful in winning.

Despite some quiet periods, particularly during the winter months, our bistro saw a pleasing 5.5% increase in sales - a strong endorsement of the great work being undertaken by our culinary team, led by Head Chef, Matt Chapman, and the growing popularity of our Pinehill Bistro business. Our bistro has become a popular venue for local residents, with non-member bookings regularly being taken for breakfast, lunch and dinner.

Once again, our function business was a major contributor to the Club’s financial hip-pocket with 424 functions, conferences, weddings and golf days held during 2015. Wedding numbers decreased slightly from 30 to 26, in line with trends within the wedding industry. Function numbers were on par with previous years whilst less corporate golf days were held. The big improvement for the Club was in conference activity, which saw a 33% increase during 2015. A niche market of smaller conferences and business meetings made use of the Club’s Boardroom and Conference

In a further endorsement to the great work being done by our food and beverage team, the Club received the 2015 Best Club Dining Award at the Clubs SA Awards Night held at

Club Burgers were once again a popular choice for golfers during the year

Chef’s special Moreton Bay Bugs were a hit at the Captain’s Lunch

FUNCTION NUMBERS IN 2015

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

TOTAL

2014

Weddings

Functions

113

117

Conferences

250

186

Golf Days

2015 Annual Report

more effectively, the Committee of Management formed a strong view that an online booking sheet system would be the best and fairest way to meet these expectations and best balance the needs and expectations across the Club’s membership base. Another important change made was the introduction of free range balls for members and guests. The introduction of this service has encouraged members to utilise our nationally recognised teaching professionals and world class practice facilities to help improve their golf game, and judging by the number of members on the driving range daily, it seems this service has been well received. Our function business was a major contributor to the Club’s financial hip-pocket with 424 functions, conferences, weddings and golf days held during 2015

Room facilities providing a regular and consistent income during the year. Our Events Manager, Lynn Kschammer, once again provided a thorough, professional and friendly service to our function clients, coordinating many hundreds of lunches, dinners, cocktail parties and wedding ceremonies. Her tireless efforts were rewarded in October after being nominated as a finalist in the Function Coordinator Award at the SA Bridal Industry Awards Night, finishing with a rating of 98.42%, just shy of the eventual winner. The Club did, however, win the Best Club Reception Venue for the second consecutive year, securing a rating of 98.43% from our brides. The award was deserved recognition for the Club’s food and beverage team who continue to impress and improve upon the service and delivery of high quality events and functions at Glenelg. With an ageing clubhouse, we will be faced with a number of capital projects in coming years to ensure we continue to provide a modern, comfortable and relaxed environment for our members and guests. During 2015, we commenced a refurbishment

program, starting in the Golfers Bar and Entry Foyer. Carpets were replaced and walls repainted in the same style as that used during the clubhouse redevelopment project in 2008/9. We hope you agree that the new colour scheme gives these areas a brighter, fresher feel more in keeping with today’s modern expectations. Our dining room chairs were also replaced during the year after 16 years of loyal service.

MEMBERSHIP, MEMBERS & GOLF 2015 proved to be a landmark year for the Club with numerous awards received, outstanding sporting achievements recorded and new services and experiences introduced for members. One of the biggest changes to be introduced to the Club in recent years happened on 1st April when, following consultation with members and after extensive and robust debate amongst the Committee of Management, it was unanimously agreed to introduce online booking sheets on a permanent basis With an increasing number of rounds being played and a greater need for people to manage their time

Improving the value of membership continues to be one of the key driving forces of the Committee of Management. During 2015, the Club successfully negotiated new reciprocal arrangements with The National Golf Club and The Dunes Golf Links on Victoria’s Mornington Peninsula, and Mission Hills in China. These three facilities add to the extensive list of nationally and internationally recognised golf clubs now available to Glenelg members. Corporate partnerships and memberships remained an important contributor to the development of alternative revenue streams for the Club in 2015. A number of new corporate relationships were established driving more than $100k in corporate subscription revenue. Our relationship with the Adelaide Football Club continues to strengthen with their captain, Taylor Walker, appointed as a Club Ambassador early in the year. Former Adelaide Oval curator, Les Burdett, was also appointed as a Club Ambassador and was the guest of honour at the Glenelg Golf Club Foundation Day in August. We have been used to regular visits by local sporting stars, but one of the world’s biggest showed up on the Club’s doorstep in January when 2013 Masters Champion, Adam Scott,

2015 Annual Report

joined his father, Phil, and close family friends for a game at Glenelg. It was Adam’s first time here and by all accounts, he was very impressed with both the condition and strategic nature of the course. Our junior golf and elite player development programs surged ahead in leaps and bounds with a number of remarkable achievements by members throughout 2015. Jenny Lee was selected to represent Australia in the Astor Cup played at The Grange early in the year whilst 16-year old Ben Layton qualified for the world final of the Aaron Baddeley International Junior Championship played in San Diego in December. Glenelg members starred in various State amateur championships played throughout 2015 with Will Starkey claiming the Golf SA Boys’ Amateur crown and 16-year old Lachlan Barker taking out the Golf SA Amateur title, defeating fellow Glenelg member, Sam Earl. Earl collected the SA Medal as leading qualifier whilst Connor Chant also reached the semi-finals, giving Glenelg three out of the four semifinalists. Jenny Lee claimed medallist honours and reached the final of the Golf SA Women’s Amateur, eventually losing to Victorian, Stephanie Bunque. Mark McDonald and Elysia Yap took out the SA Mixed Foursomes Championship which was played in conjunction with the Club Mixed Foursomes and Owen Whitford Trophy qualifying round. A remarkable highlight for our Head Teaching Professional, Gareth Jones, was the rare opportunity to caddy for Antonio Murdaca at the Masters. An experience never to be forgotten, both Gareth and Antonio then kindly offered to be guest speakers at our May Captain’s Lunch, which drew a massive 180 attendees, the biggest attendance ever for the Club. On the local front, Elysia Yap claimed her first Women’s Club Championship title and Jill Hodge took out the Women’s Open Championship. Glenelg members featured prominently in the Glenelg 10

2015 Annual Report

2015 Men’s Club Champion Jack Tanner (14 years old)

Vardon with all three trophies staying at the Club after Connor Chant, Elysia Yap and Ben Layton won their respective events – a first for the Club. Numerous Glenelg members were selected for state teams during 2015. A full listing is available later in this report. History was created in November when 14-year old Jack Tanner took out the Men’s Club Championship. In winning, Jack became the youngest ever Club Champion at Glenelg across both the men’s and women’s events. It was a remarkable effort from Jack, who had only just returned from the Club’s High Performance Squad 5-day junior trip to Melbourne with the experience clearly having an impression on the youngster. Jack is certainly a player to watch in the future. Our Golf SA pennant campaign started strongly and finished with four out of six teams reaching the finals – Women’s Grade 1, Bonnar Cup, Women’s Grade 2 and Sharp Cup. Sadly, our Women’s Grade 1 team could not do a four-peat, nor could our Bonnar Cup side defend their 2014 title and both the Women’s Grade 2 and Sharp Cup teams went down in close tussles. We once again received

great support from our pennant sponsors, Anvers Wines, McGrath Real Estate and SA Safe Supplies, and we thank them for their ongoing contribution. With a surge in interest from members utilising our expert team of teaching professionals, the Club invested in an upgrade of the driving range building as a teaching studio. Our Golf Operations team can now service members with three teaching stations inside with laptops for swing analysis, a designated putting lane for SAM Puttlab sessions and Trackman analysis. Commencing in 2016, we will also have in residence world renowned 3D Biomechanics expert, Ryan Lumsden, who is a leader in his field in world golf. We are lucky to have what is arguably the best Golf Operations team in Australia, led by Head Professional and Director of Golf Operations, Shane Robinson, Head Teaching Professional, Gareth Jones, and teaching professionals Adrian Wickstein and Sarah King. Gareth was awarded the 2015 SA Coach of the Year at the KPMG Celebration of South Australian Sport awards in November, adding to his

management and coaching staff to build a stronger Club for future generations.

FOUNDATION & HERITAGE FUND The Glenelg Golf Club Foundation was relaunched in 2015 with a fresh new logo and motto “Building a stronger Club for future generations”. The Foundation is committed to supporting, promoting and encouraging participation in golf through a variety of projects that stimulate development and growth, especially amongst our junior members. 2015 Women’s Club Champion Elysia Yap

2015 Women’s Open Champion Jill Hodge

2015 Boys’ Club Champion Ben Layton

2015 Girls’ Club Champion Emma Sutton

PGA Teaching Professional of the Year (SA) award at the SA Golf Industry Awards night in October. Gareth has been the driving force behind the implementation of our Club based teaching programs, developing the popular and hugely successful Junior Tigers golf program and Junior High Performance program, implementing world’s best practice training programs for our pennant squads and providing regular men’s and women’s coaching clinics with Shane, Adrian and Sarah. In 2015, we committed to the national MyGolf program to run in conjunction with our Junior Tigers program, resulting in being awarded the December MyGolf Club of the Month by Golf Australia. A successful talent ID pilot program was established with Sacred Heart College Middle School leading to a number of new junior members joining the Club. A decision by the Committee of Management earlier in the year to reduce junior membership costs also contributed to strong growth in junior membership through 2015. Our junior program is seen as a benchmark not only in this state but around the country and we continue to strive for excellence amongst our

The launch took place at the annual Glenelg Golf Club Foundation Day in August which raised more than $20,000 for the Club’s Junior Golf & Elite Player Development Fund. More than 120 players participated in the golf day followed by the Foundation Dinner which was attended by over 170 players, supporters and sponsors. Our junior members were out in force volunteering their time to make the day a huge success. In total, just under $29,000 was raised by the Foundation during 2015 with expenses totalling just over $36,000. This was the first year our expenses exceeded fundraising and reflects the recent increase in junior membership numbers, but more importantly, their participation in the various junior programs and activities offered throughout the year. One of the key expenditure items was the High Performance Squad junior trip to Melbourne for the Australian Masters. Twelve of our best juniors were selected to represent the Club on this trip which involved playing golf at our reciprocal clubs, Sorrento, The National and The Dunes, as well as attending the Australian Masters at Huntingdale. We encourage members to continue to support the Glenelg Golf Club Foundation through ongoing fundraising initiatives and other activities to ensure we can continue

2015 Annual Report

Many of the Club’s Past Captains gathered with the current President, Captain and Vice-Captain for the annual Past Captains’ Luncheon in April

to provide our members with the best junior golf and elite player development programs in Australia. No new activity was seen in the Club’s Heritage Fund during 2015.

OUR PEOPLE A club cannot be a club without people and it is fair to say that we have some of the best in the golfing world. We are blessed to have a group of loyal and dedicated people across all facets of our community. Your Committee of Management has worked diligently and tirelessly during 2015 to help deliver to members what we believe to be the best overall package of golf course, service and facilities in South Australia. I thank Paul Duregon for his support as Vice-Captain and wish him the best as he takes on the Captaincy in 2016. Our Chair of Finance, Bevan Roberts, and his sub-committee, including John Ranaldo and Greg Rundle, have worked hard to manage the Club’s finances in difficult economic conditions. Kay Nyland and her sub-

2015 Annual Report

committee, including Michael Adair and Brett Jarrad, worked closely with our Golf Operations team to ensure delivery of a comprehensive golf program throughout 2015. At times, hard decisions were made by the group, sometimes thanklessly, but the group has never wavered from their commitment to the Club. At the Annual General Meeting in March, another first for the Club (and possibly within the major clubs in SA) saw the appointment of Helen McMutrie as our first female President. Helen is one of our most respected members with extensive experience in volunteer adminstration roles at a state, national and international level. Helen replaced Geoff Gitsham who served as President for six years and we thank him for his contribution during this time. Our women’s sub-committee again managed a busy match program for our female members under the guidance of Captain, Cathy Johnson and Vice-Captain, Sue Tuohy. Lynne Cotton completed her term as women’s President in October with Liz

Kelton subsequently taking over the role. One of the very noticeable attributes of our Club is the numerous members who readily volunteer their time and experience to assist with managing pennant teams, refereeing, performing maintenance duties, coaching, marshalling, starting and the many other duties essential to support the operation of the Club throughout the year. We thank them all for their contribution to the Club in 2015. As previously mentioned, a number of our key management personnel were recognised by industry peers through various awards in 2015. Our General Manager, David Brand, was awarded the GMASA Excellence in Golf Club Management award, our Course Superintendent, Daryl Sellar, received the AGCSA Excellence in Turf Management, and Gareth Jones was recognised by his peers as the SA PGA Teaching Professional of the Year and SA Coach of the Year. Gareth was also appointed Head Coach of Japan Golf during the year.

OBITUARY Into the silence, we regret the loss of the following members in 2015 and extend our sympathy to relatives and friends: • John Maddern OAM

David Tamblyn, Peter Steadman & Doug Omond OAM

Brian Faehse, Gavan Fox & David Tamblyn

Colin Watt & Jane Nelson

Modge Brown, David Lindsay & Graham Webster

Geoff Gitsham, Mike Dobson & Chris Whitford

Margaret McCann & Marcia Oldfield

Rod McMutrie & Richard Bowering

Gary Thompson, Leon Grealy & Paul Duregon

Peter McDonald, Dennis Whitford & Geoff Hallion

David Jervis & Brenton Green

• Geoff Cotton • Brenton Watson • David Clark • Brian Dawson • Graeme Bignell • Avis Moore • Helen Godwin

Changes in personnel are a nature of life and the Club saw its fair share of staff movements during 2015. James Hampel joined the administration team in March as our new Membership & Business Development Manager. Since his appointment, James has driven a significant increase in corporate revenue through new memberships and partnerships and continues to provide diligent member services across all levels. James joins our core administration team including Carly Clough, Kerry Crossman and Cathy Symons who provide valuable assistance in keeping our increasingly busy golf club operating smoothly and efficiently. Anne Szabo, one of our favourite faces from behind the bar, retired late in the year following 14 years of dedicated service and friendly smiles. We also welcomed our new House Manager, John Lanica, to the Club in November. John was a standout applicant for the position and we look forward to his input and contribution to the Club’s food and beverage operations in years to come.

2015 Annual Report

Glenelg Golf Club

FOUNDATION Building a stronger Club for future generations

SUMMARY OF ACTIVITIES

School Holiday Junior Clinics were held in October and December with maximum attendances

JUNIOR GOLF & ELITE PLAYER DEVELOPMENT FUND INCOME Saturday competition donations . . . . . . . . . . . . . . . . . . . . . . $3,273.63 Captain’s Lunch raffles. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,959.09 Saturday BBQ. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $441.90 Member donations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,625.00 Helen Godwin memorial donations . . . . . . . . . . . . . . . . . . . . . $835.00 Foundation golf day. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $20,592.47

The Club’s Junior Development Program continues to grow from strength to strength

TOTAL INCOME . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $29,727.09 EXPENSES Golf SA squad entry fees. . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,277.27 Individual junior lessons. . . . . . . . . . . . . . . . . . . . . . . . . . . . $10,050.01 Tournament entry fees. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $7,484.42 Tournament travel expense subsidies. . . . . . . . . . . . . . . . . . . $6,377.27 Junior Tigers & High Performance clinics . . . . . . . . . . . . . . . $4,818.18 Junior High Performance squad trip. . . . . . . . . . . . . . . . . . . . $6,271.33 TOTAL EXPENSES. . . . . . . . . . . . . . . . . . . . . . . . . . . $36,278.48

The Foundation Day was a huge success, raising over $20k on the day for junior golf

JUNIOR GOLF & ELITE PLAYER DEVELOPMENT FUND BALANCE:

$31,579.24 INFRASTRUCTURE DEVELOPMENT FUND BALANCE:

$8,474.75 No movement in 2015

2015 Annual Report

12 of our best juniors were selected to represent the Club on the Junior HP Trip to Melbourne

HERITAGE FUND SUMMARY OF ACTIVITIES Opening balance:.................................................$22,599.00 Interest earned:..........................................................$356.00

HERITAGE FUND BALANCE:

$22,955.00 as at 31st December 2015

Heritage Fund Members

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

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

50 YEAR CLUB 50 YEAR CLUB

Glenelg Golf Club has a rich tradition and history, much of which derives from the support and loyalty of our members. We believe it is important to recognise our longstanding members who have given so much to our Club over the many years of their membership. Below is a list of current members who have been with Glenelg Golf Club for over 50 years. We thank them for their ongoing loyalty and support and welcome them into the “50 Year Club”.

60+

Cant, Donald Diercks, Les Faehse, Brian Lynas, Maxine

Omond OAM, Doug Pitcher, Elizabeth Sanderson, Pauline Shea, Elliott

Steadman, Peter Taplin, Noel Watson OAM, Rhonda

50+

Barton, Bill Bowering, Richard Brown, Modge Chapple, Geoff Cook, Jonathan Cock, Geoff Dewar, Colin Dibben, John Dobson, Michael Drew, Peter Ellis, Chris Follett, Rod Gitsham, Geoff Grealy, Leon Green, Brenton Hallion, Geoff Handford, John

Harris, Charles Jenkins, Malcolm Jervis, David Jolley, Robert Jordan, Alec Lahiff, David Lindsay, David Manser, Bernie McCann, Margaret McDonald, Peter McEntee, John McInerney, Pat McKee, Stephen McMutrie, Rod Mestrov, Tom Nelson, Jane

Nicholls, Robert Nunn, Dennis Oldfield, Marcia Stanbury, Dennis Symons, Cathy Tamblyn, David Thompson, Gary Tully, John Waddy, Betty Watt, Colin Webster, Graham Wheatley, Janice Wheatley, Peter Whitford, Chris Whitford, Dennis Whitford, Tony

2015 Annual Report

MEMBERSHIP STATUS For the year ending 31st December 2015

Category

Male

Female

2015

2014

2013

2012

2011

2010

Life

Full

452

505

546

574

609

639

725

Full Paid

Company

116

154

151

167

177

208

201

Intermediate

Six Day

105

117

169

175

170

163

158

156

Country

Corporate

Temporary

Casual

Introductory

Try Golf

Twilight

Social

Non-Playing/Pinehill

1,160

250

1,410

1,380

1,419

1,489

1,542

1,577

892.7

931.8

967.8

1014.2

1066.2

1093.8

Provisional

Weekday Veteran Junior Junior Country

PGA Member Honorary Honorary Social TOTAL

Full Member Equivalent Numbers (FMEs)

2015 Annual Report

PERFORMANCES OF NOTE For the year ending 31st December 2015

NATIONAL REPRESENTATION 2015 SA Amateur Champion Lachlan Barker (16 years old)

Lachlan Barker: Thunderbird International Junior Event Jenny Lee: Astor Trophy Ben Layton: Aaron Baddeley World Final

STATE REPRESENTATION MEN Lachlan Barker, Sam Earl, Joshua Hayes WOMEN Jenny Lee (Captain)

2015 SA Boys’ Amateur Champion Will Starkey (17 years old)

BOYS Lachlan Barker (Captain)

SA/VIC BORDER CHALLENGE Country: Lachlan Barker, Ben Layton Metropolitan: Jackson Kalz, Liam Kennewell, Frank Vucic SECONDARY SCHOOLS SPORT STATE TEAM Jackson Kalz, Liam Kennewell, Ben Layton

GIRLS Emma Sutton, Matilda Wheare

STATE HIGH PERFORMANCE SQUADS TIER 1 Lachlan Barker, Sam Burton, Joshua Hayes, Ben Layton

2015 Glenelg Junior Vardon Champion Ben Layton (16 years old)

TALENT ID Harrison Edwards, Josh Gumm, Marcus Kuys, Jacob Rillotta, Mitchell Ward

TIER 2 Boys: Aaron Buchanan, Jack Buchanan, Harry Burner, Jackson Kalz, Liam Kennewell, Jack Tanner, Frank Vucic Girls: Emma Sutton, Matilda Wheare

INDIVIDUAL RESULTS

2015 Golf SA Mixed Foursomes Champions Mark McDonald & Elysia Yap

National Representative - Astor Trophy Jenny Lee

Golf SA Men’s Amateur Champion: Lachlan Barker Golf SA Boys’ Amateur Champion: Will Starkey Golf SA Foursomes Champions: Elysia Yap & Matilda Wheare Golf SA Mixed Foursomes Champions: Mark McDonald & Elysia Yap Golf SA Junior Vardon Trophy: Lachlan Barker Golf SA Country Champion: Deb Christie Golf SA Senior Cup: John Keogh SA Medallist: Sam Earl Srixon International Junior Classic Boys 14 and under: Liam Kennewell Tea Tree Gully Junior Vardon: Lachlan Barker Fleurieu Women’s Vardon: Elysia Yap Fleurieu Junior Vardon: Lachlan Barker Flagstaff Hill Women’s Vardon: Elysia Yap Blackwood Junior Vardon: Lachlan Barker Glenelg Vardon: Connor Chant Glenelg Women’s Vardon: Elysia Yap Glenelg Junior Vardon: Ben Layton Thaxted Park Junior Vardon: Lachlan Barker 2015 Annual Report

OFFICE BEARERS 1927-2015 Year

President

Captain

Vice-Captain

Year

1927 A.J. Roberts

S. Jackman

F.G. Hicks

1928 A.J. Roberts

S. Jackman

1929 A.J. Roberts

S. Jackman

1930 A.J. Roberts 1931 A.J. Roberts

Captain

Vice-Captain

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

1974 N.E. Bagshaw

M.C.E. Summers

R.B. Bennett

S. Jackman

F.G. Hicks

1975 N.E. Bagshaw

M.C.E. Summers

R.B. Bennett

F.G. Hicks

John Hill

1976 F.G. Collins

R.B. Bennett

G.A. Hodgson

1932 Not Appointed

F.G. Hicks

John Hill

1977 F.G. Collins

R.B. Bennett

G.A. Hodgson

1933 W. Fisk

John Hill

G. McLeay

1978 F.G. Collins

G.A. Hodgson

H.T. Slade

1934 W. Fisk

John Hill

G. McLeay

1979 F.G. Collins

G.A. Hodgson

H.T. Slade

1935 W. Fisk

J.E. Ashton

G. McLeay

1980 F.G. Collins

H.T. Slade

B.J. Manser

1936 W. Fisk

J.E. Ashton

G. McLeay

1981 F.G. Collins

H.T. Slade

B.J. Manser

1937 W. Fisk

K.C. Crookall

Dr. A.H. Guymer

1982 F.G. Collins

B.J. Manser

J.E.O. Handford

1938 W. Fisk

Dr. A.H. Guymer

Dr. C.B. Maddern

1983 F.G. Collins

B.J. Manser

J.E.O. Handford

1939 Frank Smith

Dr. A.H. Guymer

J.E. McKee

1984 R.B. Bennett

J.E.O. Handford

G.D. Gitsham

1940 Frank Smith

J.E. McKee

V.M. Thomas

1985 R.B. Bennett

J.E.O. Handford

G.D. Gitsham

1941 Frank Smith

V.M. Thomas

W.B. Holt

1986 R.B. Bennett

G.D. Gitsham

A.K. Whitford

1942 Frank Smith

V.M. Thomas

W.B. Holt

1987 R.B. Bennett

G.D. Gitsham

A.K. Whitford

1943 Frank Smith

V.M. Thomas

W.B. Holt

1988 R.B. Bennett

A.K. Whitford

D.N. Barton

1944 Baden Pattinson

V.M. Thomas

W.B. Holt

1989 R.B. Bennett

A.K. Whitford

D.N. Barton

1945 Baden Pattinson

W.B. Holt

A.C. Brooke

1990 R.B. Bennett

D.N. Barton

J.L. Waddy

1946 Baden Pattinson

W.B. Holt

A.C. Brooke

1991 R.B. Bennett

D.N. Barton

J.L. Waddy

1947 W. Allen

E.Caradoc Ashton

S.N. McKee

1992 R.B. Bennett

J.L. Waddy

J.R. Giles

1948 H.H. Handby

E.Caradoc Ashton

S.N. McKee

1993 R.B. Bennett

J.L. Waddy

J.R. Giles

1949 H.H. Handby

E.Caradoc Ashton

S.N. McKee

1994 D.N. Barton

J.R. Giles

J.A. Rawson

1950 C.H. Fidock

S.N. McKee

F.G. Collins

1995 D.N. Barton

J.R. Giles

J.A. Rawson

1951 C.H. Fidock

S.N. McKee

F.G. Collins

1996 D.N. Barton

J.A. Rawson

I.P. Symons

1952 C.H. Fidock

F.G. Collins

S.D. Harris

1997 D.N. Barton

J.A. Rawson

I.P. Symons

1953 C.W. Anderson

F.G. Collins

S.D. Harris

1998 D.N. Barton

I.P. Symons

D.M. Lindsay

1954 C.W. Anderson

S.D. Harris

D.M. Watson

1999 J.L. Waddy

I.P. Symons

D.M. Lindsay

1955 C.W. Anderson

S.D. Harris

D.M. Watson

2000 J.L. Waddy

D.M. Lindsay

C.R. Whitford

1956 C.W. Anderson

S.D. Harris

D.M. Watson

2001 J.L. Waddy

D.M. Lindsay

C.R. Whitford

1957 C.W. Anderson

D.M. Watson

C.M. Wood

2002 J.L. Waddy

C.R. Whitford

P.J. Norman

1958 C.W. Anderson

D.M. Watson

C.M. Wood

2003

C.R. Whitford

P.J. Norman

1959 C.W. Anderson

D.M. Watson

C.M. Wood

2004 B.J. Manser

P.J. Norman

I.R. Brooks

1960 W.J. Parkinson

C.M. Wood

N.E. Bagshaw

2005 B.J. Manser

P.J. Norman

I.R. Brooks

1961 W.J. Parkinson

C.M. Wood

N.E. Bagshaw

2006 B.J. Manser

I.R. Brooks

P.R. McGrath

1962 W.J. Parkinson

N.E. Bagshaw

P.T. Morton

2007 B.J. Manser

I.R. Brooks

P.R. McGrath

1963 W.J. Parkinson

N.E. Bagshaw

P.T. Morton

2008 B.J. Manser

P.R. McGrath

N.J. Johnson

1964 N.E. Bagshaw

N.E. Bagshaw

P.T. Morton

2009 G.D. Gitsham

P.R. McGrath

N.J. Johnson

1965 N.E. Bagshaw

P.T. Morton

J.A. Butler

2010 G.D. Gitsham

N.J. Johnson

A.J. Martin

1966 N.E. Bagshaw

P.T. Morton

J.A. Butler

2011

N.J. Johnson

A.J. Martin

1967 N.E. Bagshaw

J.A. Butler

J.A. Manning

2012 G.D. Gitsham

A.J. Martin

G.M. Fox

1968 N.E. Bagshaw

J.A. Butler

J.A. Manning

2013 G.D. Gitsham

A.J. Martin

G.M. Fox

1969 N.E. Bagshaw

J.A. Manning

J.R. Alderman

2014 G.D. Gitsham

G.M. Fox

P.B. Duregon

1970 N.E. Bagshaw

J.R. Alderman

J.D. Omond

2015 H. McMutrie

G.M. Fox

P.B. Duregon

1971

J.R. Alderman

J.D. Omond

N.E. Bagshaw

2015 Annual Report

President

J.L. Waddy

G.D. Gitsham

COMMITTEE MEMBERS 1927-2015 Name Adair, M.S.

Years 2

Name Hartford, B.B.

Years 1

Name

Years

Name

Years

Merrett, A.F.

Whitford, A.K.

Alderman, J.R.

Hendry, J.M.

Morton, P.T.

Whitford, C.R.

Allen, W.S.

Hewett, L.P.

Nelson, R.A.

Wood, C.M.

Ashton, E.C.

Hicks, F.G.

Newton, R.

Wood, L.M.

Ashton, J.E.

Hill, J.

Norman, P.J.

Wood, W.C.

Bagshaw, N.E.

Hodgson, G.A.

Nyland, K.

Woolcott, E.S.

Barton, D.N.

Hodgson, J.W.

Oâ&#x20AC;&#x2122;Brien, G.P.

Wright, H.F.

Bennett, R.B.

Holt, W.B.

Omond, J.D.

Young, W.D.

Bishop, W.P.

Hull, S.C.

Palmer, J.S.

Briscoe, P.C.A.

Humphries, W.G.

Percival, S.T.P.

Brooke, A.C.

11 6

Jackman, A.J.

Phillips, D.W.

Brooks, I.R.

Jackman, J.W.

Phillips, M.B.

Brooks, L.A.

Jackman, S.

Price, W.D.

Burgen, O.T.

Jarrad, B.

Pritchard, W.A.

Butler, J.A.

Johnson, A.C.M.

Ranaldo, J

Campbell, K.S.

Johnson, N.J.

Rawson, J.A.

Chamberlain, R.R.

Johnson, W.G.

Rawson, K.A.

Chapple, G.B.

Kenny, J.P.

Reade, T.C.

Collins, F.G.

Kimber, A.W.

Roberts, B.M.

Connelly, P.F.

Koukourou, S.

Rundle, G.C.

Crookall, K.C.

Lacey, E.H.

Sando, H.H.

Cudmore, D.C.

Lewis, F.A.

Sands, R.G.

Dale, M.E.

Lindsay, D.M.

Sauerbier, L.C.

Darling, A.E.

Maddern, Dr. C.B.

Skinner, L.P.

Dignan, J.A.

Maddern, J.P.

Slade, H.T.

Duregon, P.B.

Mahoney, W.J.

Stanhope, B.H.

Ellers, L.G.

Mallen, L.

Stevens, G.B.

Stevens, R.F.

Still, J.A.

4 3

English, R.J.

Manning, J.A.

Ferris, B.T.

Manser, B.J.

Flehr, B.E.

Marshall, A.K.

Stone, J.C.F.

Follett, R.M.

Martin, A.J.

Summers, M.C.E.

Foster, G.C.

Martin, S.G.

Symons, I.P.

Fox, G.M.

Mausolf, N.

Thomas, V.M.

Frances, I.K.

McCarter, L.

Thompson, G.R.

McCarthy, K.J.

Trabilsie, F.J.

McFarlane, A.

Truscott, R.W.

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

5 11

Gillespie, D.P.

McFarlane, K.B.

Vivian, A.B.

Gillman, J.F.

McGlasson, A.

Waddy, J.L.

Gitsham, G.D.

McGrath, P.R.

Walsh, T.I.

Goldsworthy, J.S.

McKee, J.E.

Warburton, C.

Guy, G.R.

McKee, S.N.

Watson, D.M.

Guymer, Dr. A.H.

McLeay, G.

Watson, E.J.

Handford, J.E.O.

McLuckie, R.

Weston, G.W.

Harris, S.D.

McMutrie, H.

Wheatley, J.A.

2015 Annual Report

CLUB CHAMPIONSHIPS & CLUB TROPHY WINNERS For the year ending 31st December 2015

Event

Winner

Runner Up

Men’s Club Championship

Jack Tanner

Anthony Olsen

Women’s Club Championship

Elysia Yap

Louise Pike

RF Stevens Trophy

Anthony Olsen

Men’s B Grade Championship

Scott Franks

Paul Duregon

Men’s C Grade Championship

Austin Baker

Ron Heald

Women’s B Grade Championship

Imelda Lynch

Christina Larsen

Women’s C Grade Championship

Carmel Fairweather

Lynne Cotton

Men’s A Grade Plate

Brian Welsh

Mark Dignan

Men’s B Grade Plate

Phil Maunder

Robert Schmidt

Men’s C Grade Plate

Bevan Roberts

John Tregeagle

Boys’ Club Championship

Ben Layton

Jackson Kalz

Girls’ Club Championship

Emma Sutton

Hyoyi Pyun

Men’s Senior Championship

Neil Higgins

Wayne Humphries

Jimmy McLachlan Memorial Trophy

Sam Hughes

Will Starkey

Women’s Open Championship

Jill Hodge

Sophie James

Men’s Foursomes Championship

Anthony Olsen & Andrew Grzybowski

Women’s Foursomes Championship

Jill Hodge & Rebecca Hughes

Men’s A Grade Foursomes

Jackson Kalz & James Bridgen

Men’s B Grade Foursomes

Mark Footner & Phil Miller

Men’s C Grade Foursomes

Harry Larsen & John Jeffery

Women’s B Grade Foursomes Championship

Marg Gordon & Annette Rieniets

Women’s C Grade Foursomes Championship

Carmel Fairweather & Vivian King

Mixed Foursomes Championship

Mark McDonald & Elysia Yap

Rhonda Watson Brooch (Gross)

GLENELG: Elysia Yap, Samantha White, Louise Pike

Rhonda Watson Brooch (Net)

KOOYONGA: Lyn McGough, Deb Percey, Jill Trenorden

Brian Ferris Memorial Trophy

Connor Chant (Glenelg)

Will Starkey (Glenelg)

Eric Scovell Junior Vardon Trophy

Ben Layton (Glenelg)

Billy Cawthorne (Royal Adelaide)

Glenelg Women’s Vardon

Elysia Yap (Glenelg)

Ella Adams (The Grange)

Owen Whitford Trophy

Jim & Cathy Johnson

Grant & Anne Threadgold

Lance Begg Trophy

Tony & Ruth Martin

Winter Pinehurst Foursomes Trophy

Phil & Wendy Greig

Don Harris Memorial Trophy

Jeff & Deb Faust

Tuohy Trophy

Craig & Colin Coleman

Burgandy Trophy

Matt Hickman & Kym Dean

2015 Annual Report

Men’s Event

Winner

Men’s Event

Winner

Governor’s Cup

Keith Plummer (Kooyonga)

Glenelg Trophy (Juniors)

Jackson Kalz

Senior Cup

Steve McCarthy

Boys’ Handicap Matchplay

Jack Tanner

Anzac Trophy

Ian Mather

Rawson Memorial

Adam Rice

Captain’s Trophy

Glenn Sterrey

Don Watson Memorial

Rob Arbon

President’s Trophy

Brenton Kalz & Josh Hodgson

Frank Collins Memorial

James McDonald

Glenelg Trophy

Josh Hodgson

AH Smerdon Memorial

Dale Baker

Sam Percival Trophy

Bill Ferguson

Steve McKee Memorial

Alan Turner

Milo Sprod Trophy

Adrian Edgar

Summer Cup

Kevin Thomas / Ian Foord

Reg Sands Starter’s Trophy

Morrie Croucher

Harold Wright Memorial

Grant Goodier

Norm Omond Medals

A Grade: Matt Fitzgerald

Men’s Winter Matchplay

Aaron Buchanan

B Grade: Kym Burns

Men’s Summer Matchplay

Anton Clovicko

C Grade: Neil Day

Brian Bashford Memorial

David Trembath

Women’s Event

Winner

Women’s Event

Winner

President’s Foursomes

Imelda Lynch & Jill Gehling

Shylie Rymill Foursomes

Anne Hooper & Bev Franklin

Captain’s Trophy

Imelda Lynch

Consistency Cup

Janet Fleer

Laurel Wreath

Imelda Lynch

Aggregate Par Trophy

Nuala Oades

International Bowl

Silver: Sue Smallacombe

Veterans’ Handicap

Ruth Croall

Bronze: Anne Hooper

Veterans’ Handicap Gross

Helen McMutrie

Shane Robinson Trophy

Nancy Bartlett

Veterans’ Handicap Net

Sandy Francas

Club Medal 1

Anne Hooper

Essex Stroke

Silver: Kerry Larsen

Club Medal 2

Fiona Eblen

Club Medal 3

Pat Crowhurst

Extreme Veterans’ Trophy

Eyvonne Du-Rieu

Club Medal 4

Cathy Symons/Marie Winter

Most Improved Handicap

Bev Franklin

Caddy Trophy

Joy Green

Jacka Trophy

Sarah Crocker

Past Committee Trophy

Christina Larsen

Turkey Gobbler

Margaret Whelan

Grandmothers’ Trophy

Janet Fleer

Joanne Sims Trophy

A Grade: Jill Gehling

Putting Trophy

Cathy Symons

B Grade: Judy Holst

Wallace Stroke

Louise Pike

C Grade: Margaret McCann

Parfection Prize

Peggy Lau-Flux

Ella Cole Trophy

Emma Sutton

Bronze: Anne Hooper

Holes In One Ralph Faithfull (January) - 11th Hole

Jill Hodge (May) - 14th Hole

Peter Hawke (December) - 14th Hole

Kenton Inns (January) - 11th Hole

Ken Evans (June) - 14th Hole

Calvin Perks (December) - 16th Hole

Scott Franks (January) - 16th Hole

Janet Fleer (August) - 16th Hole

Darren Royals (December) - 14th Hole

Roger Blows (January) - 3rd Hole

David Shetliffe (August) - 11th Hole

Louis Langanis (December) - 3rd Hole

Jane Nelson (January) - 11th Hole

Jan Dale-Harris (October) - 11th Hole

Roger Attenborough (April) - 11th Hole

John Noble (November) - 14th Hole

Peter Hooper (May) - 11th Hole

Anthony Doyle (November) - 11th Hole

2015 Annual Report

GLENELG GOLF CLUB INCORPORATED AND CONTROLLED ENTITY STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2015 Note 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

2015 Annual Report

2015 $

Consolidated 2014 $

1,938,190 191,526 268,787 55,680 16,942 2,471,125

1,882,576 224,964 282,507 54,258 15,963 2,460,268

Golf Club 2015 $

2014 $

1,938,190 191,526 268,787 55,680 16,942 2,471,125

1,882,576 224,964 282,507 54,258 15,963 2,460,268

71,565 415,896 99,930 5,001 1,303 (51,420) (117,300) (37,503) (144,178) 243,294

67,436 364,427 75,291 36,241 (1,353) (46,680) (117,876) (29,878) (126,414) 221,194

71,565 415,896 99,930 5,001 1,303 (51,420) (117,300) (37,503) (144,178) 243,294

67,436 364,427 75,291 36,241 (1,353) (46,680) (117,876) (29,878) (126,414) 221,194

1,063,445 (376,826) 686,619

1,033,832 (379,575) 654,257

1,063,445 (376,826) 686,619

1,033,832 (379,575) 654,257

(435,747) (5,817) (38,694) (4,677) 201,684

(375,131) (15,501) (34,492) (5,409) 223,724

(435,747) (5,817) (38,694) (4,677) 201,684

(375,131) (15,501) (34,492) (5,409) 223,724

1,382,940 (527,547) 855,393

1,369,538 (518,051) 851,487

1,382,940 (527,547) 855,393

1,369,538 (518,051) 851,487

(655,265) (31,914) (11,632) (7,404) (7,596) (19,962) (22,679) 98,941

(644,579) (27,762) (13,471) (5,452) (5,812) (20,459) (18,304) 115,648

(655,265) (31,914) (11,632) (7,404) (7,596) (19,962) (22,679) 98,941

(644,579) (27,762) (13,471) (5,452) (5,812) (20,459) (18,304) 115,648

72,069 5,208 51,120 28,539 156,936

81,131 10,131 48,686 48,477 188,425

72,069 5,208 51,120 28,539 156,936

81,131 10,131 48,686 48,477 188,425

3,171,980

3,209,259

3,171,980

3,209,259

GLENELG GOLF CLUB INCORPORATED AND CONTROLLED ENTITY STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2015 Note 2015 $

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 NET SURPLUS / (DEFICIT) Other Comprehensive Income

Consolidated 2014 $

Golf Club 2015 $

2014 $

443,554 9,300 83,870 22,634 47,137 50,293 38,787 18,972 13,554 45,438 2,210 2,302 39,745 70,844 888,640

436,761 9,225 55,021 23,618 92,327 57,316 38,858 29,364 15,355 44,232 525 37,822 71,642 912,066

443,554 9,300 83,870 22,634 47,137 50,293 38,787 18,972 13,554 45,438 2,210 2,302 39,745 70,844 888,640

436,761 9,225 55,021 23,618 92,327 57,316 38,858 29,364 15,355 44,232 525 37,822 71,642 912,066

923,414 199,830 58,225 32,329 19,632 4,876 60,809 16,835 126,853 310,108 1,752,911

842,343 196,527 60,213 53,985 19,849 15,284 400 73,779 17,527 93,577 308,780 1,682,264

923,414 199,830 58,225 32,329 19,632 4,876 60,809 16,835 126,853 310,108 1,752,911

842,343 196,527 60,213 53,985 19,849 15,284 400 73,779 17,527 93,577 308,780 1,682,264

12,425 53,402 107,058 108,360 38,703 185,941 505,889

10,216 45,901 91,210 109,084 35,525 196,708 488,644

12,425 53,402 107,058 108,360 38,703 185,941 505,889

10,216 45,901 91,210 109,084 35,525 196,708 488,644

(19,500) (19,500)

(16,597) (16,597)

(19,500) (19,500)

(16,597) (16,597)

3,127,940

3,066,377

3,127,940

3,066,377

44,040

142,882

44,040

142,882

TOTAL COMPREHENSIVE INCOME FOR YEAR

44,040

142,882

44,040

142,882

TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO EQUITY

44,040

142,882

44,040

142,882

The accompanying notes form part of these accounts

2015 Annual Report

GLENELG GOLF CLUB INCORPORATED AND CONTROLLED ENTITY STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2015 Note 2015 $

Consolidated 2014 $

Golf Club 2015 $

2014 $

CURRENT ASSETS 2 3

286,222 166,853 92,278 125,136 670,489

354,041 180,132 81,406 138,290 753,869

286,222 166,853 92,278 125,136 670,489

354,041 180,132 81,406 138,290 753,869

4 5

11,750 6,898,660 6,910,410

14,000 7,015,533 7,029,533

621,183 6,269,959 6,891,142

623,433 6,386,832 7,010,265

7,580,899

7,783,402

7,561,631

7,764,134

540,439 197,691 729,042 518,888

431,200 181,594 551,156 552,451

540,376 197,691 729,042 518,888

431,137 181,594 551,156 552,451

1,986,060

1,716,401

1,985,997

1,716,338

182,781 1,023,304

169,941 1,552,346

182,781 1,023,304

169,941 1,552,346

Total Non-Current Liabilities

1,206,085

1,722,287

1,206,085

1,722,287

TOTAL LIABILITIES

3,192,145

3,438,688

3,192,082

3,438,625

NET ASSETS

4,388,754

4,344,714

4,369,549

4,325,509

Retained Earnings Outside Equity Interests in controlled entity

4,360,507 28,247

4,316,467 28,247

4,369,549 -

4,325,509 -

TOTAL EQUITY

4,388,754

4,344,714

4,369,549

4,325,509

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

2015 Annual Report

GLENELG GOLF CLUB INCORPORATED AND CONTROLLED ENTITY STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2015 Retained Earnings $

Outside Equity Interest $

Total $

Consolidated Entity Balance at 1 January 2015 Profit attributable to members of controlling entity

4,316,467 44,040

28,247 -

4,344,714 44,040

Balance at 31 December 2015

4,360,507

28,247

4,388,754

Balance at 1 January 2015 Profit attributable to members of controlling entity

4,325,509 44,040

Balance at 31 December 2015

4,369,549

Balance at 1 January 2014 Profit attributable to members of controlling entity

4,173,585 142,882

28,247 -

4,201,832 142,882

Balance at 31 December 2014

4,316,467

28,247

4,344,714

Balance at 1 January 2014 Profit attributable to members of controlling entity

4,182,627 142,882

Balance at 31 December 2014

4,325,509

Controlling Entity

Year End 2014 Consolidated Entity

Year End 2014 Controlling Entity

The accompanying notes form part of these accounts

2015 Annual Report

GLENELG GOLF CLUB INCORPORATED AND CONTROLLED ENTITY STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2015 Note 2015 $

Consolidated 2014 $

Golf Club 2015 $

2014 $

2,446,385 2,484,404 592,392 (4,904,721) (47,137) 156,936

2,403,370 2,441,196 543,395 (4,582,412) (92,327) 188,425

CASH FLOWS FROM OPERATING ACTIVITIES 2,446,385 2,484,404 592,392 (4,904,721) (47,137) 156,936

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

2,403,370 2,441,196 543,395 (4,582,412) (92,327) 188,425

728,259

901,647

728,259

901,647

Payments for Property, Plant and Equipment Proceeds from Sale of Property, Plant and Equipment Return of Capital from ARL

(466,672) 19,500 2,250

(519,299) 22,248 2,500

(466,672) 19,500 2,250

(519,299) 22,248 2,500

NET CASH (OUTFLOW) FROM INVESTING ACTIVITIES

(444,922)

(494,551)

(444,922)

(494,551)

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

(51,156) (300,000) -

(53,296) 75,501 (350,000) -

(51,156) (300,000) -

(53,296) 75,501 (350,000) -

NET CASH PROVIDED INFLOW (OUTFLOW) FROM FINANCING ACTIVITIES

(351,156)

(327,795)

(351,156)

(327,795)

NET INCREASE / (DECREASE) IN CASH HELD

(67,819)

79,301

(67,819)

79,301

Cash at Beginning of Year

354,041

274,740

354,041

274,740

286,222

354,041

286,222

354,041

CASH FLOWS FROM INVESTING ACTIVITIES

CASH FLOWS FROM FINANCING ACTIVITIES

Cash at End of Year

The accompanying notes form part of these accounts

2015 Annual Report

GLENELG GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015 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 2015 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 2015 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.

2015 Annual Report

GLENELG GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015 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.

2015 Annual Report

GLENELG GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015 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.

2015 Annual Report

GLENELG GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015 Note 2015 $

Consolidated 2014 $

Golf Club 2015 $

2014 $

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

250,442 12,825 22,955 286,222

320,152 11,290 22,599 354,041

250,442 12,825 22,955 286,222

320,152 11,290 22,599 354,041

The effective interest rate on short-term bank deposits was 6.76% (2014: 7.26%); 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

286,222

354,041

286,222

354,041

12,599 59,034 95,220 166,853

35,144 52,928 92,060 180,132

12,599 59,034 95,220 166,853

35,144 52,928 92,060 180,132

11,750 11,750

14,000 14,000

608,328 11,750 1,105 621,183

608,328 14,000 1,105 623,433

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 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 1,250 shares in Asset Resolution Limited (250,000 in 2014). Consolidation occurred 9/12/15. 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, nil in 2013). A Capital Return Payment of $2,250 ($2,500 in 2014) from Asset Resolution Limited was received during the 2015 year. A consolidation of shareholdings occurred on 9/12/15 on the basis that every 200 existing shares would be consolidated to one (1) share. Therefore our 250,000 share holding has been consolidated to 1,250 shares.

2015 Annual Report

GLENELG GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015 Note 2015 $

Consolidated 2014 $

Golf Club 2015 $

2014 $

NOTE 5 - PROPERTY, PLANT AND EQUIPMENT 628,704

628,704

6,037,667 (1,709,450) 4,328,217

6,017,068 (1,565,500) 4,451,568

6,037,667 (1,709,450) 4,328,217

6,017,068 (1,565,500) 4,451,568

Clubhouse Plant and Equipment Less Accumulated Depreciation

464,109 (356,384) 107,725

396,156 (314,426) 81,730

464,109 (356,384) 107,725

396,156 (314,426) 81,730

Course Buildings Less Accumulated Depreciation

393,260 (253,548) 139,712

393,260 (225,944) 167,316

393,260 (253,548) 139,712

393,260 (225,944) 167,316

Administration Plant and Equipment Less Accumulated Depreciation

315,622 (295,513) 20,109

301,615 (272,879) 28,736

315,622 (295,513) 20,109

301,615 (272,879) 28,736

Bar Plant and Equipment Less Accumulated Depreciation

153,902 (140,376) 13,526

153,902 (135,699) 18,203

153,902 (140,376) 13,526

153,902 (135,699) 18,203

Catering Plant and Equipment Less Accumulated Depreciation

347,168 (266,244) 80,924

337,037 (243,566) 93,471

347,168 (266,244) 80,924

337,037 (243,566) 93,471

Golf Carts Less Accumulated Depreciation

140,730 (66,873) 73,857

140,730 (40,190) 100,540

140,730 (66,873) 73,857

140,730 (40,190) 100,540

Course Plant and Equipment Less Accumulated Depreciation

4,277,035 (3,153,374) 1,123,661

4,394,142 (3,046,072) 1,348,070

4,263,822 (3,140,158) 1,123,664

4,380,929 (3,032,856) 1,348,073

Entrance Road & Carpark Less Accumulated Depreciation

547,058 (232,247) 314,811

273,697 (224,604) 49,093

547,058 (232,247) 314,811

273,697 (224,604) 49,093

Capital Improvements Less Accumulated Depreciation

1,163 (950) 213

1,163 (918) 245

1,163 (950) 213

1,163 (918) 245

Range Assets Less Accumulated Depreciation

108,199 (40,998) 67,201

78,032 (30,175) 47,857

108,199 (40,998) 67,201

78,032 (30,175) 47,857

Freehold land Clubhouse Less Accumulated Depreciation

TOTAL PROPERTY, PLANT AND EQUIPMENT

6,898,660

7,015,533

6,269,959

6,386,832

2015 Annual Report

GLENELG GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015 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 2015

Clubhouse Clubhouse Plant & Equipment Course Buildings Administration Plant & Equipment Bar & Plant Equipment Catering Plant & Equipment Golf Carts Course Plant & Equipment Entrance Road & Carpark Range Assets Capital Improvements

4,451,568 81,730 167,316 28,736 18,203 93,471 100,540 1,348,073 49,093 47,857 245 6,386,832

Additions

20,599 67,953 14,008 10,131 50,453 273,361 30,167 466,672

Disposals

(167,560) (167,560)

Depreciation

(143,950) (41,958) (27,604) (22,635) (4,677) (22,678) (26,683) (274,862) (7,643) (10,823) (32) (583,545)

Write Back of Accumulated Depreciation

167,560 167,560

Carrying amount at 31 December 2015

4,328,217 107,725 139,712 20,109 13,526 80,924 73,857 1,123,664 314,811 67,201 213 6,269,959

Consolidated Entity Carrying amounts at 1 January 2015

Freehold Land Clubhouse Clubhouse Plant & Equipment Course Buildings Administration Plant & Equipment Bar & Plant Equipment Catering Plant & Equipment Golf Carts Course Plant & Equipment Entrance Road & Carpark Range Assets Capital Improvements

628,704 4,451,568 81,730 167,316 28,736 18,203 93,471 100,540 1,348,070 49,093 47,857 245 7,015,533

Additions

20,599 67,953 14,008 10,131 50,453 273,361 30,167 466,672

Disposals

(167,560) (167,560)

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

2015 Annual Report

Depreciation

(143,950) (41,958) (27,604) (22,635) (4,677) (22,678) (26,683) (274,862) (7,643) (10,823) (32) (583,545)

Write Back of Accumulated Depreciation

167,560 167,560

Carrying amount at 31 December 2015

628,704 4,328,217 107,725 139,712 20,109 13,526 80,924 73,857 1,123,661 314,811 67,201 213 6,898,660

GLENELG GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015

2015 $

Consolidated 2014 $

Golf Club 2015 $

2014 $

NOTE 6 - TRADE & OTHER PAYABLES Trade Creditors Other Creditors

158,627 381,812 540,439

336,176 95,024 431,200

158,627 381,749 540,376

336,176 94,961 431,137

181,594 104,770 (88,673) 197,691

163,687 75,069 (57,162) 181,594

181,594 104,770 (88,673) 197,691

163,687 75,069 (57,162) 181,594

169,941 32,568 (19,728) 182,781

140,505 34,994 (5,558) 169,941

169,941 32,568 (19,728) 182,781

140,505 34,994 (5,558) 169,941

700,000 29,042 729,042

500,000 51,156 551,156

700,000 29,042 729,042

500,000 51,156 551,156

1,000,000 22,304 1,000 1,023,304

1,500,000 51,346 1,000 1,552,346

1,000,000 22,304 1,000 1,023,304

1,500,000 51,346 1,000 1,552,346

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)

LONG-TERM BORROWINGS

Bank loan Hire Purchase Debentures

The Club has a loan facility of $2,200,000 which is secured by registered mortgages over land owned by Glenelg Golf Links Limited. At 31 December 2015, $1,700,000 of the Club's facility was utilised ($2,000,000 in 2014). $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.

2015 Annual Report

GLENELG GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015

2015 $

Consolidated 2014 $

Golf Club 2015 $

2014 $

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

29,042 22,304 51,346

56,561 55,701 112,262

29,042 22,304 51,346

56,561 55,701 112,262

Less Future Finance Charges Present Value of Minimum Lease Payments

(4,354) 46,992

(9,760) 102,502

(4,354) 46,992

(9,760) 102,502

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

102,179 252,547 354,726

64,029 179,871 243,899

102,179 252,547 354,726

64,029 179,871 243,899

43,850 10,716 189,646 41,921 23,785 29,989 115,972 40,054 22,955 518,888

41,150 21,822 218,021 29,720 26,037 27,949 118,197 46,956 22,599 552,451

43,850 10,716 189,646 41,921 23,785 29,989 115,972 40,054 22,955 518,888

41,150 21,822 218,021 29,720 26,037 27,949 118,197 46,956 22,599 552,451

44,040

142,882

44,040

142,882

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

583,545 28,937 (19,500)

582,700 47,343 (16,597)

583,545 28,937 (19,500)

582,700 47,343 (16,597)

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

13,279 75,676 (10,872) 13,154

(19,072) 164,041 6,287 (5,937)

13,279 75,676 (10,872) 13,154

(19,072) 164,041 6,287 (5,937)

728,259

901,647

728,259

901,647

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

2015 Annual Report

GLENELG GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015 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 2015 2014 % % Financial Assets Cash at Bank Cash on Deposit

Financial Liabilities Borrowings

(b)

6.76

2.12

Floating Interest Rate

7.26

4.45

Fixed Interest Rate Maturing Within 1 Year 2015 2014 $ $

2015 $

2014 $

250,442 250,442

320,152 320,152 -

1 to 5 Years 2015 2014 $ $

729,042 729,042

551,156 551,156

1,023,304 1,023,304

1,552,346 1,552,346

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 2015, 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 2015 2014 2015 2014 $ $ $ $ Change in Profit Increase in the interest rate by 2% $ (35,027) $ (42,070) $ (35,027) $ (42,070) Decrease in the interest rate by 2% $ 35,027 $ 42,070 $ 35,027 $ 42,070 Change in Equity Increase in the interest rate by 2% Decrease in the interest rate by 2%

$ $

(35,027) $ 35,027 $

(42,070) $ 42,070 $

(35,027) $ 35,027 $

(42,070) 42,070

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

9,300 9,300

9,150 9,150

9,300 9,300

2015 Annual Report

9,150 9,150

GLENELG GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015 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 (2014 - $0).

(b)

The names of the persons who were officers of Glenelg Golf Club Incorporated at any time during the year ended 31 December 2015 are as follows: Gavan M. Fox Paul B. Duregon Brett D. Jarrad Kay Nyland John Ranaldo Bevan Roberts Greg C. Rundle Michael S. Adair

(Captain) (Vice Captain) Elected March 2015

Elected March 2015

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 2014/15 was upheld and therefore no expense or accrual has been recognised in relation to 2015/16 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.

2015 Annual Report

GLENELG GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2015 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. 2015

2014

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

2015 Annual Report

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 2015 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 2015, 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 2015: 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 2nd day of February 2016.

GAVAN FOX Captain

2015 Annual Report

BEVAN ROBERTS Chair of Finance

2015 Annual Report

James Melrose Road NOVAR GARDENS SA 5040 Phone: (08) 8350 3200 Fax: (08) 8294 8894 www.glenelggolf.com reception@glenelggolf.com