cycsa annual report 2011-12
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C R U I S I N G Y A C H T C L U B O F S O U T H A U S T R A L I A
2 0 1 1 – 2 0 1 2
A N N U A L R e p O R T
Cruising Yacht Club of South Australia Inc.
Lady Gowrie Drive
North Haven
South Australia
pO Box 1020
North Haven SA 5018
Telephone: 08 8248 4222
Facsimile: 08 8248 5888
email: reception@cycsa.com.au
Web: www.cycsa.com.au
The CYCSA thanks its major sponsors for their support during 2011/2012:Racing Fishing CruisingPhil Hoffmann Travel Custom Cartons Charlesworth NutsPort River Marine Cummins Yalumba R Marine South AustraliaPenfolds Maritimo AdelaideMUSTOCanegrass Saltbush LambSportsmed.SAEverettBrookes Custom Jewellery Vislex The Stag Hotel Doyle Sailmakers
ClubCorpor8 It Solutions
Club Sponsors
Life 5Honorary 11Foundation 24Senior 517pt Vincent Senior 46Member 159Racing 255Associate/Family 66Intermediate 5Junior 41Total 1134
Membershipas at 31.05.2012
Front cover photo courtesy of Greg pratt
Back cover photo courtesy of Jacq Heffernen
Inside front and back cover photo courtesy of Craig evans
Text pages photos from Club members’ contributions, including professional photographers Greg pratt, Brenton pegler, Glenn Hawke, Gerry Colella and Sarah Lawrie.
Graphic design by Trevor paynter
printed by Reflex printing
Cover image:
Bullistic (Tony Hansen, paul Martin and Richard Royans)
Cruising Yacht Club of South Australia Annual Report for 2011/20121
Cruising Yacht Clubof South Australia
Contents
Administration 2
Board Committees 2
Club Committees 2
Club Association Committees 2
Life Members 2
Board of Management 3
Flag Officers 3
President’s Report 4
Treasurer’s Report 6
Commodore’s Report 7
Audit Committee Report 8
Facilities Committee Report 9
CYCSA Marine Academy Committee Report 10
Membership Services, Sponsorship and Recruitment Committee Report 11
Groundswell Editorial Committee Report 14
Cruising Association Report 15
Fishing Association Report 16
Social Activities Association Report 18
Racing Association Report 19
Club Structure 21
CYCSA Inc and Controlled Entities Financial Report 22
CYCSA Vessel Register 41
Cruising Yacht Club of South Australia Annual Report for 2011/2012 2
AdministrationExecutive Officer Craig EvansFinance Manager Marina SegodinaAdministration Manager Jenny KrogdahlComms and Membership Services Laura CowleyAdministration and Leasing Kylie BottrillReceptionist Mellissa GrayRacing Manager Jess HargreavesSlip Master Tim Went (until Dec.2011)Property Manager Robert GrayMaintenance Daniel PreeceCleaner Malcolm MurrayHead Chef Peter Batrachenko (until Dec.2011)Head Chef Aaron Hill (from Dec.2011) Food and Beverage Manager Mario CataldiFunctions Coordinator Michelle MattePt Vincent Manager Rob MarnerMarine Academy Coordinator Matt Young
Club AssociationsCruising Association CommitteeChair Keith Degenhardt Martyn Heffernan, Robert Perrin, Terry Denham, Gerard Hughes
Fishing Association CommitteeChair Glenn Spear Peter Newmarch, Geoff Wiggins, Malcolm Kitto, Ray Baddeley, Bruce Tasker, John Colella,
Graham Meyers, Leica Theodore
Racing Association CommitteeChair Traci Ayris William Strangways, Brenton Pegler, Roger Nicolson, John Gibson, Mark Hutton
Social Activities Association CommitteeChair Jacq Heffernan Sandra Richards, Pam Humeniuk, Morag Draper, Karen Johns, Anne Burrows Jnr, Don Guy
CommitteesBOARD COMMITTEESAudit Committee Chair Chris Wood (Board Member) David Hughes (Treasurer), Don Venn (Senior Member)
CYCSA Marine Academy Chair Andrew Saies (Board Member) John Gerard (Senior Member), Geoff Catt (Commodore),
Rod Hunter (Senior Member), Chris Morphett (Senior Member), Rowland Richardson (Rear Commodore), Craig Evans (Executive Officer), Matt Young (MA Course Coordinator), Brett Yardley (Senior Member), Peter Hendy (Racing Member)
Facilities CommitteeChair David Murray (Board Member) Graham Meyers, (Senior Member), Geoff Boettcher (Senior
Member), Joe Walker (Senior Member), John Gerard (Senior Member), Craig Evans (Executive Officer)
History Project CommitteeChair John Gerard (Senior Member) Tom Tymons (Board Member), Trevor Paynter (Member),
Laura Cowley (Comms & Membership Services), Craig Evans (Executive Officer)
Membership Committee Bryan Mellors (Senior Member), Barbara Page (Senior
Member), Peter Page (Senior Member), Martyn Heffernan (Senior Member), Jacqueline Heffernan (Senior Member), Trevor Kipling (Senior Member)
Member Services, Sponsorship and Recruitment CommitteeChair Wayne Coonan (Board Member) Geoff Catt (Commodore), Craig Evans (Executive Officer), Laura Cowley (Communications & Membership Services), Glenn Spear (Fishing Association Chair), Traci Ayris (Racing
Association Chair), Jacq Heffernan (Social Activities Association Chair), Keith Degenhardt (Cruising Association Chair), Rowland Richardson (Rear Commodore), Matt Young (Marine Academy Coordinator), Trevor Paynter (Marketing & Promotions Subcommittee), Richard Watson (Marketing & Promotions Subcommittee), Mike O’Reilly (Marketing & Promotions Subcommittee)
CLUB COMMITTEE
Groundswell Editorial Committee Craig Evans (Executive Officer), Gay Footer (Senior
Member), Robert Perrin (Senior Member), Owen Mace (Senior Member), Laura Cowley (Communications and Membership Services), Jenny Krogdahl (Administration Manager)
Life MembersArthur F CarolanRichard H Fidock AOGraeme L FooterJames A Henry (deceased)Malcolm A Kinnaird ACPeter J Page
Other AssociationsThe Cruising Yacht Club of SA is a member of the following Associations:Boating Industry Association of SA, Marina Industries Association, Clubs SA, Business SA, International Training and Management P/L, Yachting Australia, Yachting South Australia, Game Fishing Association of Australia, Australian Bridal Industry Academy, Good Sports
Cruising Yacht Club of South Australia Annual Report for 2011/20123
Flag Officers
Executive Officer
Board of Management
David Murray
Geoff CattCommodore
Rowland RichardsonRear Commodore
Rob SellickVice Commodore
David HughesTreasurer
Chris Wood(appointed April 2012)
Andrew Corletto(retired December 2011)
Wayne Coonan
Henry Petersen
Andrew SaiesPresident
Tom Tymons
Craig Evans
Cruising Yacht Club of South Australia Annual Report for 2011/2012 4
President’s Report
Last year I provided a fairly detailed review of the Club’s position in relation to the post GFC economic environment. As most members would understand, little has changed in the general South Australian economy; in fact it continues to remain static or is even contracting and this situation is also reflected in the business and activities of the CYCSA this year.
Finances and MembershipNet memberships have remained largely unchanged from those reported at the AGM last year. The Club’s net assets remain very strong. Total revenues across the Club and controlled entities has shown an upward trend on 2011. Understandably and correspondingly, capital expenditure and other infrastructure projects have all been put on hold to achieve this result. Nonetheless, Craig Evans and his management team have done very well to achieve this outcome while maintaining access to services and activities in keeping with previous years. If however there is a decline in income, or an imperative for expenditure, then this will need review.
The Board must and will continue to monitor the Club finances very carefully and is constantly looking to reduce expenses in ways which will have minimal impact on access, services and activities for members. Membership fee increases this year were capped at just under 5%, however a number of Club expenses increased by percentages well in excess of that number. The Board and management continue to carefully consider the impact of fee increases on members against the need to maintain and run the Club in a manner that members would expect.
Marina WestNo new sales have occurred in Marina West since my last report. I again stress to members that income from sales is in excess of the construction cost of the marina and this money is in the bank, however the net surplus that was expected to be achieved by sale of two thirds or more of these marina berths has not occurred. Members will be aware that this surplus was targeted for a staged replacement of Marina East.
The issue of vessel motion and comfort in relation to wave motion for the outer berths in Marina West continues to occupy considerable Board and management time. I stated last year that the Board intends to extend the inner breakwater. The timeline of the various approvals required from Government and Council has been complex to say the least and in fact final construction
application approval from Port Adelaide and Enfield Council was only obtained in February of this year. The project cannot commence until a dredge becomes available in the North Haven basin and this is dependant on Government making available the dredge to do this work. The Government is also in breach of its dredging obligations to maintain a safe navigable depth within the entrance and fairways of North Haven Marina. Again, Board and management have gone to considerable lengths to obtain commitments from the relevant department and in fact have more recently asked assistance from the new local member for State Government, Susan Close.
The delays in commencing construction of the inner breakwater are not of the Club’s making.
While progressing the application, approval and tender process for this project the Board and management submitted a grant to the South Australian Boating Facilities Advisory Committee (SABFAC) for financial assistance to construct the extension to the Marina West breakwater. Craig Evans wrote an excellent application and spent many months and many hours meeting, lobbying, justifying and rebutting a significant amount of anti-CYCSA sentiment coming out of this particular government accountable committee. Despite this tremendous effort and despite the fact that large boat owners to date have received no investment in their boating infrastructure or services from this fund, the SABFAC committee denied our application for funding assistance. In the explanatory letter from the Chairman of that committee there are factual errors that are completely at odds with the submission put forward by the CYCSA and with the extensive presentation made by Craig Evans at the application hearing. This decision and our extreme unhappiness with the SABFAC decision, along with the inaccurate justification for the decision, currently at the time of writing, sits with the Minister for Transport.
I am also able to report that the Board has sought further advice on all aspects of the design/construction brief and the contracts underpinning the Marina West project. Notwithstanding this, an extension to the inner breakwater is an absolute priority for the Club and the Board.
Marina EastI am pleased to report that the speed of deterioration of Marina East has slowed in some areas and in many areas is no greater than has been seen in the preceding twelve months to two years.
Cruising Yacht Club of South Australia Annual Report for 2011/20125
Walkway and finger heights are being carefully monitored along with changes in inclination of these areas. Any significant areas of degradation will be repaired or replaced as and when this occurs. An allocation in the budget is made for this each year and this amount is correspondingly increasing each year.
Board ActivityAndrew Corletto stood down as a Board member in December last year and the Board appointed Chris Wood to the casual vacancy created. I would like to thank Andrew for his substantial contribution to the activities of the Board over the last five years or so. His legal expertise was utilised on many occasions, bringing about resolution of matters that would have otherwise required outsourcing of legal advice at some considerable expense to the Club.
We live in an increasingly regulated world where rights and responsibilities are spelt out in the minutest detail and where parties in dispute seem to have no hesitation in pursuing those perceived rights through our legal system. The number of letters from lawyers representing parties or members in dispute with the Club increases every year.
Andrew, on behalf of the Board and all members, I thank you for your substantial contribution and a second term of office at an appropriate time in the future is not out of the question!
Chris Wood brings considerable expertise as a Director and Manager of private companies and businesses, is a long time Club member and a very active cruising sailor. Chris has also been made Chairman of the Board Audit subcommittee.
Council RatesMuch of the last six months has been spent developing and implementing a strategy to counter the Port Adelaide Enfield Council proposal to effectively quadruple rates raised from marina and hardstand berths in the precinct over the next five years. The detail and nuances of the particular proposal and of the Local Government Act covering rates and Council’s rights to raise rates is complex and beyond the scope of this annual report. However if the City Manager’s proposal in its original form was to have been passed by Council, the financial impact on berth owners, with a flow on effect to the Club, would have been significant and severe.
The manner in which the City Manager and the Mayor have pushed this rate change has been acrimonious and divisive. Our two local Ward Councillors, Bruce Johansen and Peter Jamieson, have been very supportive of the Club position. Our Club has shown considerable leadership on behalf of all berth stakeholders in the Council area in fighting the proposed rate increase. The Club has undertaken an extensive and well thought through campaign to persuade the Council against approving such a rate increase and has put forward an alternative proposal. I can assure members that no stone has been left unturned in our efforts to combat this unfair and unreasonable rate increase. At the time of writing this issue remains unresolved.
Associations and VolunteersI like to thank and recognise the Board members, committee members and all the Chairs of the Associations and interest groups within the Club. You give your time and expertise to enhance the value for all members of being a member of this Club. Without your commitment, the success of the Club and the governance and activities provided for members would be significantly diminished.
I would also like to thank those members who sit on other committees such as the Marine Academy, the Audit Committee and all those who help with special events and social events throughout the year. Be warned you may be being groomed for a more formal role!
I would like to thank and acknowledge all those businesses who sponsor the various activities or events throughout the year. Sponsorship is a key part of the ongoing success and viability of our activities and in particular it is great to see an increasing number of our own members who support the Club in this way.
I would like to thank our Flag Officers. Rob Sellick who completes his term as Vice Commodore, has been a level headed, measured and effective Flag who just gets on and gets the job done when required, not unlike his great sailing ability out on the water.
Rowley Richardson as Rear Commodore has stepped up his contribution to Club life, bringing expertise and guidance to the Marine Academy in particular and I thank him on behalf of the Board and Members.
Finally, Geoff Catt as Commodore and past President dedicates an enormous amount of time to the Club and is interested and involved with so many areas. He has been a great support to the Board and I have personally valued his guidance and insight.
Finally I would like to thank our Groundswell team, Gay Footer and Trevor Paynter. The magazine is of ongoing excellent high quality and of great interest to members. In an age where everything is available in a digital format, I think many of us appreciate receiving a real magazine.
Club AdministrationI would like to acknowledge and thank Craig Evans for his outstanding efforts again over the last year. Craig works tirelessly for this Club. He is here on all weekends throughout the year and most of the remainder of the working week. He deals with everything from applications for major government grants to sorting out disputes between members or between members and the Club. He does this with pragmatic diplomacy, obtaining an outcome that satisfies the vast majority of members on most occasions and in keeping with Board and Club values. Craig leads a dedicated team who also have the interests of the Club and members at heart and do their very best within their areas of employment and within the budget given to them by the Board.
I wish to thank Craig and all staff for their efforts in making our Club an enjoyable place to visit while pursuing our boating, racing and social interests in the 2011/12 Club year.
Andrew Saies, President
Cruising Yacht Club of South Australia Annual Report for 2011/2012 6
Treasurer’s Report
I took over this role from Henry Petersen on October last year and I would like to thank Henry for the enormous effort he has put in managing the treasurer’s role for the past 5 years.
The Year in ReviewThis has been another year of difficult economic conditions, rising costs and continuing levels of uncertainty. We have seen the collapse of a number of high profile organisations and most businesses across the state have been challenged to be very diligent in managing costs and cash flow. This is even more prevalent in organisations that rely on “discretionary spending” such as ours.
I believe we have weathered this environment very well and continued to provide an excellent Club environment which is well placed to face the future challenges.
The Club has again been well supported by the Associations who provide a continuing source of volunteer labour and contribute valuable income generated from various member activities, for which, on behalf of the Board, I thank you.
In addition to the income from Associations, it is important to note that the Club has a variety of sources of income including corporate and membership fees, license fees, hospitality and other services. All of these income sources go to fund all Club facilities, infrastructure and services for the benefit of all members, so we all need to support the Club and enjoy all of the facilities on offer. The Board always appreciates any suggestions for improvement across any aspect of Club activities.
In summary, I believe we have seen a very successful year with the addition of a number of new boats and members, successful on-water activities as well as very enjoyable social occasions. As members, we should all thank the tireless effort of the staff who ensure our Club is at its best for our enjoyment.
RevenueTotal revenue has increased by $173,000 (up 5.6%), following a decrease in the previous year. Our revenues have increased in all areas, with the exception of “Commission on Berth Sales” (down by $126,000) and “Hospitality” (down by $10,000). Our main source of revenue is still membership and corporate fees and it is pleasing to report that our membership and berth owner numbers have remained relatively stable across the year. This is a very positive result given that a number of similar clubs here and interstate have reported significant reductions in membership. As a Board, we take our decisions on fee increases very seriously and would prefer not to have to increase fees. Unfortunately this is not possible and we continue to monitor prices across the sector to ensure we remain competitive and affordable.
ExpenditureTotal Expenses increased by $37,000 (up 1.5%) across the year against a general CPI increase of 2.9%. It is a credit to Craig and his team that expenses have been held at low levels across the year against an environment of increasing demands and general cost increases.
Cash FlowGiven a 5.6% increase in revenue and maintaining expenses to a 1.5% increase, we have been able to deliver a cash surplus for the year of $148,000. In addition to the control on general expenses, we have limited capital expenditure to a modest $37,000, allowing only essential capital to be spent. At year-end, we are sitting on cash reserves of $867,000, a very strong position to enable us to address major capital works in the coming years. We have had very limited sales of new berths in Marina West in the current year and anticipate low levels of sales over the next few years until economic conditions improve. As planning for the extension to the breakwater in Marina West continues, we need to maintain a prudent approach to cash.
Balance SheetOur Club now has total assets of $19,029,000, a reduction of $420,000. This reduction is due to non-cash depreciation charges on assets of $600,000, less the cash surplus generated for the year. Total Liabilities of $6,139,000 (last year $6,389,000) includes an inter-Club loan of $5,490,000 (last year $5,642,000). At the date of this report, there are no external bank borrowings.
Financial ReportsAs members know, the Club has a complicated entity structure. We have two Unit Trusts (CYC Ramp Trust and CYC (SA) Unit Trust), each with their own corporate trustees as well as an Incorporated body being CYC of SA Inc. This structure was devised some years back and provides members with substantial benefits around protection of assets, tax benefits and maximum flexibility for future directions. The financial reports presented in this report represent the consolidated position of the Club and (hopefully) avoids confusion in the understanding of the Club’s financial performance and position. The individual entity reports are available on our web site should any member wish to review them. All entities, as well as the consolidated view, have been reviewed and confirmed by our auditors, with unqualified audit reports being issued and included in this report.
Year AheadI believe we will continue to see difficult and uncertain economic times in the year ahead. In addition, we will see substantial increases in utility costs, insurance and from the consequences of the final outcome regarding Port Adelaide Enfield Council rates on marina and hardstand berths. The Board has reviewed all of these impacts and set a tight budget to ensure the Club continues to maintain a prudent and conservative financial position.
We are likely to undertake a substantial investment in the inner breakwater for Marina West at some stage across the year, which will require some debt funding as well as consuming some of the existing cash reserves. The Board is maintaining a very prudent approach to any other discretionary and capital expenditure to ensure we maintain a strong balance sheet for the future. We will balance the need to maintain existing assets in a professional condition with the need to ensure financial strength. We trust members understand this balance.
In summary, I believe we have a Club to be proud of, a year ahead to look forward to and boating and social activities to enjoy. The Club prospers and grows on the support of all members.
David Hughes, Treasurer
Cruising Yacht Club of South Australia Annual Report for 2011/20127
Commodore’s Report
This past year has once again proven to be a busy but challenging one for our Club. The state of the general economy always has an impact on the activities of a club such as ours because if members are feeling nervous or apprehensive financially then discretionary spending on sporting and social areas tends to tighten. Nevertheless, we’ve continued to move forward in many areas whilst adopting a more prudent approach in others.
Indeed, as I mentioned two years ago, through times like these the robust nature of the Club’s history, structure and finances has served us well once again.
As Commodore I am able to attend each Board meeting as your representative and I can assure you that you can be confident of the care, attention to detail and diligence that the members of the Board apply to the governance of the Club, its assets and finances. We are well served by the present Board and I thank them on your behalf.
As usual, the 2011 season kicked off in fine style with Opening Day being celebrated in fine but windy weather and a few whitecaps out to sea. Consequently, the sail past was a little different this year as we decided to try it within the confines of North Haven. Vessels proceeded to the far northern basin before forming a line back past the saluting vessel moored on the end of Marina West. Although this was a break with tradition it was well received by the majority of skippers as it enabled many more guests to participate without venturing to sea. In addition, the turnout of North Haven residents on their balconies to view the sail past added to the occasion.
Continuing the previous year’s theme of honouring our life members, Past President and Past Commodore Peter Page took the salute and officially opened the season.
We also announced and congratulated our Volunteer of the Year, Traci Ayris for her outstanding commitment as Chair of the Racing Association.
A special thanks was extended to those members from all associations who gave time to help run the second “Unforgettable Challenge”, where teams competed in a series of events to win a magnificent Unforgettable Houseboats prize, kindly donated once again by Mark and Lee-Anne Flanagan.
The summer racing season concluded with Presentation Night which was as enjoyable as ever, reflecting the terrific effort put in throughout the year by the Racing Executive, by our Racing Manager Jess Hargreaves and of course by all the volunteers who have helped to stage the various race programs – well done everyone. Congratulations to Les De Wit on winning Crew Person of the Year, to Andrew Saies and Two True as Yacht of the Year, to all winning skippers and their crews and a special acknowledgement for our Sydney to Hobart participants – first timer Patrice IV (Shane Wiseman) and Two True (Andrew Saies) – both boats performed well and returned safely to the CYCSA.
On behalf of the Club I also took pleasure in accepting the Commodore’s Shield from a gracious RSAYS Commodore Peter Kelly in recognition of our team’s success this season.
Yacht racing will always be vital to the success of our Club, but there were many other notable events that occurred during the year as well.
A reinvigorated Fishing Association staged the traditional successful and enjoyable Crabbing Day, an impressive Boating Showcase and an equally entertaining Seafood Extravaganza Dinner, whilst cruisers from the CYCSA have travelled to Tasmania, the East Coast and the Far West Coast as well as throughout the local waters.
Also, closer to home, the Social Activities Committee continued to arrange and successfully run their usual full calendar of major events like the Christmas Party, the Boat Hop and the Commodore’s Dinner, as well as a myriad of other functions which this year included a most enjoyable Progressive Dinner on boats in Marina West.
All of these events are an important part of our Club’s fabric. They represent the unique cross section of membership and would not happen without active Associations and dedicated volunteers. And so I would like to thank on your behalf all who have helped in any capacity in running the Club’s events this past year – it is much appreciated.
I would also like to take this opportunity to thank our Executive Officer Craig Evans and all staff for their great work in providing us with the amenities of which we and our guests can enjoy and
Cruising Yacht Club of South Australia Annual Report for 2011/2012 8
Audit Committee Report
The Audit Committee’s Terms of Reference are to continue to provide assurance to the Board of Directors that the Club is meeting its financial responsibilities with respect to overseeing all aspects of financial reporting, controls and functions.
The Committee consists of: Chris Wood – Chair and Board MemberDavid Hughes – Treasurer and Board MemberDon Venn – Senior Member
During the course of the year the Committee carried out its usual reviews, monitored corporate risk including the Club’s insurance program, and worked with management to carefully understand and periodically check the internal financial performance.
The Committee spent considerable time liaising with the Club’s new Auditors PKF, in overseeing the audit program, the audit outcomes, and the preparation of the Club’s Annual Consolidated Financial Statements.
The Committee has set itself a program for the current financial year, which includes, and will not be limited to, verifying and testing many of the Club’s key balance sheet items and structures as well as looking at the checks and balances relating to management controls.
Thank you to my fellow members for the considerable time and support they have given to a very important function within the Club’s formal structure.
Chris Wood, Chair Audit committee
Commodore’s Report (continued)
be proud. From personal experience I can attest to the many, many hours of additional work and effort that they have put in – thank you Craig and your team.
I announced last year that we had instigated a reciprocal membership program with other yacht clubs around the world for the benefit of members travelling to those locations. We now have fifteen such arrangements in Australia, the United States, the United Kingdom, New Zealand, Hong Kong, Brunei, Malaysia, Thailand and Singapore. Contact details continue to be posted under special links on the website. I trust that CYCSA members visiting these reciprocal clubs will be made welcome and enjoy the facilities on offer.
Senior Members are also reminded that we have a continuing reciprocal agreement with the Naval Military and Air Force Club in Adelaide whereby senior members are able to join for a very reasonable annual fee and enjoy the amenity of such a prestigious club in the city.
I would also like to most sincerely thank Vice Commodore Rob Sellick and Rear Commodore Rowley Richardson and their wives for their total support and enthusiasm during this past year – they have served you all well.
As you know, Rob is standing down tonight after five years as a Flag Officer. Amongst his other duties he has worked particularly closely with the Board and the Racing Executive to ensure that a vibrant racing fleet continues to be a feature of the CYCSA. Thank you for everything Rob and enjoy your semi-retirement!
On a sadder note I wish to acknowledge the recent passing of past member Graham Measday. He was a very active member and dedicated considerable time to the corporate governance of the CYCSA. He was a Board Member in 1985, President of the Board from 1989 to 1993, Rear Commodore in 1986, Vice Commodore from 1987 to 1989 and was our third Commodore from 1993 to1998.
Graeme and his wife Judy were responsible for reviving the Social Activities Committee and introduced a number of events and initiatives such as the ‘Welcome to Members’ cocktail night.
Thank you again for the opportunity to be the Club’s Commodore – it’s an honour and a privilege.
Geoff Catt, Commodore
Cruising Yacht Club of South Australia Annual Report for 2011/20129
Facilities Committee Report
Following the 2010 AGM, the Board of Management held an information session to update members on the status of a number of projects and the Club’s Master Plan, developed with the architectural firm Woods Bagot.
The first phase of the Club’s Master Plan was to include storage and waste facilities to be constructed in the south part of the grounds. This project was to enable the shipping containers to be removed from our property to comply with Council’s demands and also meet storage needs for members as identified by survey. Room was to be provided for Association storage and for general Club requirements following the removal of the sheds by the ceremonial area. A new bulk waste facility had been designed to enable the current waste area by the Club entrance to be relocated to improve environmental as well as occupational health and safety and amenity aspects. Architect, Kym Glastonbury, was engaged and developed architectural drawings.
An opportunity arose to apply to Federal Government for funding under the Climate Change Grant Program which involved modifying and expanding the proposal to fit in with the grant application guidelines. Modifications incorporated a range of environmental features but at the end of the day, the grant application was not successful, despite substantial effort going in to “tick all the boxes”.
With other demands looming that would involve substantial costs (ie the need to build the Marina West breakwater extension and to replace Marina East) the Board asked the Facilities Committee to trim down this proposal to achieve the storage requirements only, at minimum cost. With that brief, proposals for storage sheds have been developed and quotations have been sought from preferred suppliers prior to submission to the Board for approval. This project is on the table but will need further financial modeling to ensure it is close to self-funding with the concept being for the users of the storage facility to make up the main funding. It is envisaged that responses to the initial survey will need to be followed up in this context.
The Facilities Committee had also been working through plans and specifications for redevelopment of the Club’s building at Port Vincent to better meet the needs of local and visiting marina users. The committee reached the point of evaluating tender proposals and refining the preferred tender to trim costs, and submitted a proposal to the Board for approval. Again, with a focus on tight financial restraint, the Board decided to go for a more modest improvement at Port Vincent and work has now been completed on the north side of the amenities building to better utilize that area. While this development is well short of the initial concept, it is set up to readily integrate with a larger scale development that may be considered in more flexible financial circumstances.
A proposal to install shade sails for the ceremony area met with unexpected Council development application hurdles. However, the Club was able to get through each of those hurdles, doing so not just to get the application through but to ensure that its position was protected if at some time in the future it were to make more significant development applications. However, to maintain greatest financial flexibility, the shade sail installation has also been put on hold for the time being.
Board member, David Murray took on responsibility for the Facilities Committee from John Gerard who retired from the Board in December 2010. Thanks to John who has maintained his involvement as well as to senior members Joe Walker, Geoff Boettcher and Graham Meyers for their ongoing commitment, and a special thanks to Craig Evans who has been the ever-committed project manager throughout.
David Murray, Chair Facilities Committee
Cruising Yacht Club of South Australia Annual Report for 2011/2012 10
CYCSA Marine Academy Committee Report
The Academy completed its fifth year of operation and its second full year with Matt Young as Coordinator.
CoursesThe Academy has continued to run a variety of courses targeting member needs and interests along with running courses in introductory boating for members of the wider community.
Overall activity levels and course numbers have plateaued due in no small way to the lack of YA qualified instructors available to take these courses on weekends and after hours. Matt Young, Brett Yardley, Rod Hunter, Andy Ship and John Edwards have all been involved in instructing this year. Brett Yardley intends to achieve YA Instructor certification status some time this year. The delays in achieving this RYA/YA higher qualification has come about due to the limited numbers of instructors in Australia wishing to undertake this course and the postponement of the course by YA on at least two occasions in the last twelve months. This higher level course can only be taken interstate. Our inability to obtain these higher qualifications however has meant that we have been unable to increase our pool of RYA/YA certified instructors and this limits the number of courses that can be offered. Until instructor numbers can be increased the Marine Academy is taking a cautious approach to wider community marketing and promotion of courses and activities.
The Academy continues to have access to two J24s and Academy One. The RIB is used for powerboat courses, boat licence instruction and by the Club for safety and support during Club events. Four years ago the Club had none of these craft available to members.
FinancialsThe financial report is summarised adjacent. The statement of cash flow will show an operating profit of around $8,000 which is less than the previous year. If the Academy Coordinator salary (covered within the total Club operating budget) is added into the expense report the Academy will have run at a small loss this year.
Future DirectionsThe committee has spent some considerable time this year under the direction of Rowley Richardson in developing a strategic and business plan. The implementation of this plan will occur over the next two years. Access to suitably qualified instructors is a key challenge for the Academy and for the realisation of some of the goals in the strategic plan. The Academy, in conjunction with the Club, must also look for ways to re-engage the many students who have been through courses in the last four years. One of the early goals of the Marine Academy was to try and bring a net inflow of new crew and new members into the CYCSA.
Although there has been little growth in the activity of the Academy in the last twelve months the recently revised strategic and business plan should give some focus to the Academy Committee, the Club and to Matt Young and his team who deliver the courses. The Board and the Committee consider that the Academy has the right fundamentals in place and that, in
time, it will be the premier provider of education and instruction for boating in South Australia.
Andrew Saies, Chair CYCSA Marine Academy
Statement of Cash Flow 31 May 2012
Carried Forward $46,106.52
IncomeSSSC $3,263.61Safety Sunday $2,218.16Intro Sail & WEA $9,031.82Sail Cruising Scheme $2,568.19Instructors Course $636.36Youth Keelboat $3,469.08RYA/YA Theory Course $1,190.00Marine Radio Course $5,807.27National Keelboat Scheme (NKBS) $2,202.26Powerboat (NPBS) $3,766.21Sponsorship/Fundraising $0.00SA Water Atlas Income $236.36Course Books Income $0.00Other Income - Jump On It Income $4,136.73Interest $2,310.48Total Income $40,836.53 Expense SSSC $3,137.56Safety Sunday $27.94Intro Sail & WEA $4,441.20Sail Cruising Scheme $3,606.26Instructors Course/Accreditation $522.73RYA/YA Theory Course $3,298.81Marine Radio Course $4,613.18National Keelboat Scheme (NKBS) $681.82Powerboat (NPBS) $2,598.46Youth Keelboat $6,136.16Administration $0.00Advertising $0.00SA Water Atlas $1,033.37Course Books $0.00Other expenses $97.90Total Expenses $30,195.39 Balance as at 31.5.12 $56,747.66
Cruising Yacht Club of South Australia Annual Report for 2011/201211
Member Services, Sponsorship and Recruitment Committee Report
1. Evolution of the Committee from Member Services to Member Services, Sponsorship & Recruitment The initial Charter of the committee was to consult with members and to develop a range of initiatives to enhance the services provided by the Club to our membership. Following the launch of a revised members handbook and information packs for new members about the Club’s Associations and activities, this role was expanded by the Board to include the development of a whole of Club approach to sponsorship. This was to increase the overall level of sponsorship to the Club and its Associations by providing our sponsors with a broader and more flexible range of options that offer genuine value for their sponsorship support. It is also designed to assist Associations to develop their services to members by expanding their potential sponsorship pool and to establish a ‘Sinking Fund’ for future projects. An underlying principle of this initiative is that Associations would retain their current roles in seeking and dealing with sponsors as well as their rights to allocate sponsorship funds and to carry over any unused funding.
Given the obvious interrelationships between sponsorship and marketing and the importance of membership to the Club, the Committee was also charged with assisting the Club and Associations in recruiting new members.
These changes in function have been reflected in the membership of the Committee with the addition of representatives from each Association joining the existing members.
1.1. Committee MembersChair Wayne Coonan (Board Member)Geoff Catt (Commodore)Craig Evans (Executive Officer)Laura Cowley (Communications & Membership Services)Glenn Spear (Fishing Association Chair)Traci Ayris (Racing Association Chair)Jacq Heffernan (Social Activities Association Chair)Keith Degenhardt (Cruising Association Chair)Rowland Richardson (Rear Commodore)Matt Young (Marine Academy Coordinator)Trevor Paynter (Marketing & Promotions Subcommittee)Richard Watson (Marketing & Promotions Subcommittee)Mike O’Reilly (Marketing & Promotions Subcommittee)
2. Major Projects 2.1. Website The new website was a priority and the Club now has a website backed by state of the art technology which will allow the Club and its Associations to develop an array of initiatives to improve communication with members and to provide increased exposure opportunities for our sponsors. Apart from visual improvements, online registrations and payments were welcomed early benefits to members. Staff and Associations can now control all internal editing associated with the site resulting in more timely information for members.
Members Online SurveyAn online member survey was created and respondents have provided valuable feedback of member opinion on many aspects of the Club. This survey technology can be adapted to cover a range of purposes and tailored for specific Association projects.
Online ShopIt is our intention to eventually develop an online shop where members can purchase CYCSA clothing and merchandise through an online payment gateway. However other developments were considered a higher priority and we hope to make this facility one of our projects for next year.
Inducted Contractors DirectoryAn Inducted Contractors Directory has been created and is being populated as contractor induction forms are being completed. We hope to make this page available to members soon.
Members ForumThe Members Forum was designed to add another element for intra Club communication between members on a range of member driven issues. From a governance perspective this has required the development of terms and conditions of use and privacy policies to be in place before it can be launched for members. The legal aspects of this have involved a prolonged process and we are thankful for the assistance of Andrew Corletto. This has now been completed and following Board approval the project will be approved for launch.
Email TemplatesWork is progressing on designing a new email template for eBulletin distributions to members. Due to the expanding nature
Cruising Yacht Club of South Australia Annual Report for 2011/2012 12
of search platforms, there have been a few issues preventing us from migrating to the new template. However, we are confident these issues will be resolved shortly.
Online Business DirectoryThe Online Business Directory and has been well received by members and businesses alike. It continues to grow and is becoming a useful resource for members (and Club staff to direct member enquiries in an unbiased manner).
Paid listings include a logo, multiple lines of contact details and an optional special offer or promotion for members. However, to acknowledge the support of our members, we also introduced free single line listings, which is a good opportunity for smaller business owners to participate and promote their business to fellow members.
eBulletins are being sent out on approximately a monthly basis with special offers from participating businesses.
Sponsors’ Links To add value to our sponsor partnerships we have automatically listed our sponsors businesses on the Directory as well. New links were created on the Club homepage to highlight the sponsorship and business directory pages.
Member Benefits Page & FAQsIn response to queries from members and staff, a Membership Benefits page has been added to the website to highlight the benefits of being a member of the CYCSA, as well as benefits available to individual membership categories. Hopefully this will be a useful resource to clarify any queries in relation to leasing, berth ownership and slipping rules etc. A FAQs page will be developed and added to the website in due course.
Port Adelaide Enfield Council Rates A page was created on the website to provide information to members regarding the council rates on berths issue and will continue to be updated as developments progress.
Other Improvements implemented on Website:• Onlineaccountaccessformembers(includingtheabilityto
pay accounts online)• Increasedareasallowingpotentialexposureforsponsors• LogorotationonhomepageforCYCSAcertificationlogos.
• CruisingAssociationpagesenhancedwithmoreinformationand a special menu.
• MarineAcademyHomePageandinternalpageswiththeirown special menus course information and booking forms.
Whole of Club Sponsorship ConceptThe development of this initiative has included several meetings with Associations and members of the CYCSA Board. Concepts for Sponsorship Packages and the recruitment of members were work shopped and to accelerate their development a Marketing & Promotions Sub Committee has been formed. The focus of this group is to refine the concepts and develop a range of trial materials, including the planning for a promotional CYCSA video. The Board has approved a small budget to develop and ‘field test’ the prototypes, however the bulk of the costs are being provided pro bono by committee members.
2.2. Membership Trends ResearchThe Committee, in conjunction with the Associations and the Club’s CEO Craig Evans, has reviewed various areas of research looking at issues related to membership trends, including the Gemba Report commissioned by Yachting Australia, the outcomes of the Inter Club exchanges/conference-workshop along with the CEO’s O/S Study. This has also been the focus of one of the President’s regular combined Board and Associations’ workshops.
In line with a number of other yacht clubs in Australia the CYCSA Board has recently reviewed the category of Junior Membership and have modified this to include people up to the age of 21. The category has been renamed to be Youth Membership.
Club Assets - Members/Associations Access Policy and Procedures These Guidelines have been created to provide management with instruction on the qualification requirements, booking, induction, preparation, charges and returning of vessels owned and maintained by the Club.
The Club currently has a total of 5 vessels that are of varying size and type. As these vessels are all different they require varying qualifications, experience and skills to operate appropriately.
These guidelines have been created to ensure the safety of those involved and for the protection and maintenance of CYCSA assets. The guidelines also assist to determine the manner in which these assets may be used to support sponsorship packages.
Member Services, Sponsorship and Recruitment Committee Report (continued)
Cruising Yacht Club of South Australia Annual Report for 2011/201213
CYCSA History Book Committee Report
The History Book Committee consists of the following members:John Gerard (Chair)Tom Tymons Trevor PaynterCraig EvansLaura Cowley
The History Book Committee was formed to take advantage of a window of opportunity to gather information concerning the beginnings of the CYCSA while many of the people associated with those formative years are able to contribute to the process.
Accordingly, as members would be aware, Kristin Weidenbach was employed as an historian to research and record the history of our Club from its very beginnings through to the well established Club we have today.
The core manuscript is essentially complete and is undergoing its final editing and proofing process. The committee have been working hard to collate interesting and amusing anecdotes, stories and historical photos to accompany the text and ultimately produce a record of the Club’s history which we hope will be of
great interest and value to past, present and future members of the Club.
Capturing the history of the Club has required a great deal of research using documents and recollections of our members. Over the past few years we have invited members to contribute to the history book and have received a great deal of information. Understandably, due to the amount of information and size limitations of the final product, not everything will make the cut. We would like to thank everyone who has contributed to the book and for taking the time to submit articles, photos or participate in interviews – it is very much appreciated. If, however, it seems that we have omitted something that you may find significant in the Club’s history we apologise in advance… but we did ask!
The story of the Cruising Yacht Club of South Australia is quite remarkable and we look forward to the official launch which at this stage we hope will coincide with the Club’s 40th Anniversary celebrations in May 2013.
John Gerard, Chair History Book Committee
Member Services, Sponsorship and Recruitment Committee Report (continued)
2.3. Constitution & By-Laws updateThe quality of an organisation’s governance is an important component of its service to members. The Club’s Constitution & By-Laws form a central part of its suite of governance documents and for this reason periodic upgrades of all components are given a priority by the Board.
As part of this process a group including Craig Evans, Andrew Saies, Geoff Catt and Chris Wood are to create a corporate governance document to reflect the current structure and desired objectives of the Club.
2.4. New Members’ NightsNew Members’ Nights, otherwise known as ‘The Captain’s Table’ gatherings, are held approximately every quarter and are hosted by the Commodore or his representative. With members of the Association committee attending, the nights provide new members with an intimate opportunity to meet with CYCSA officials over dinner and learn more about what makes the Club tick. It’s proven to be a very successful way for new members to make new friends and be brought up to date with upcoming events and activities on the Club’s Calendar.
2.5. Hospitality Credit The Hospitality Credit initiative is now in its second year and applies to North Haven Senior Members. For those who regularly
attend the Club the $100 represents a pre-payment of charges that are normally incurred, and for those who don’t often visit the Club it is an encouragement to visit your Club and take advantage of the hospitality services on offer.
Members simply present their membership card whenever they use the hospitality services at the Club and the charge for your food and beverage purchases will be debited to your member account and deducted from the pre-paid Hospitality credit. Presenting your card means you will automatically receive the members discount of 10% off the regular price.
In not for profit clubs like ours, the only way to contain costs and still get things done is through the volunteering efforts of Club members. The value of this combined effort is rarely considered, but even on a gross underestimation of one day per volunteer per month the benefit to the Club would be in the thousands of dollars. This is especially so when consideration is given to the professional expertise these volunteers bring with them. Consequently, I would like to acknowledge and thank all of the Club’s volunteers but particularly my frequent Co-Chair and Commodore Geoff Catt and all members of the Member Services, Sponsorship & Recruitment Committee, including the members from Club’s Administration Team, Laura and Craig.
Wayne Coonan, Chair Member Services, Sponsorship & Recruitment Committee
Cruising Yacht Club of South Australia Annual Report for 2011/2012 14
Groundswell Editorial Committee Report
Groundswell is the Club’s ‘flagship’ communication and promotion vehicle and attempts to reflect life at the Club by involving all the interest groups in contributing articles about their activities and seeking out topics that may be of interest to the members. The committee works hard to gather articles together for each edition, occasionally resorting to writing some of them so that fast-approaching deadlines are met and to ensure that the wide range of activities and events are reported on.
To put the magazine together, it takes a bit of time on the part of an enthusiastic group of volunteers to make it happen and we really appreciate the input that the Club Associations in particular and other members make. Without the interest and response by our members it would be a slim volume each quarter. However, for Groundswell to maintain the high quality I believe we have achieved, we would appreciate receiving more input from all areas of the Club. If you have been on a fishing trip, completed a Marine Academy course, a cruise or participated in a race that you found interesting, odds are that so will many of the members, so put pen to paper and submit it to the Club Office for them to pass on to the editorial committee.
Advertising is an important component of Groundswell in order to make it cost neutral to members, so if you would like to gain exposure to over 1200 members plus friends and coffee table readers, please speak to the Club office and they will advise you on advertising rates etc. The staff, and in particular Laura, are an important part of our production team and if the advertising revenue increases, then so can the quality and size of the magazine.
Owen Mace and Rob Perrin assist in putting together and/or writing articles for the magazine with Owen being responsible for the ‘Technology’ articles that have been included recently.
Jess Hargreaves, the Racing Manager, and Traci Ayris from the Racing Association have been wonderful contributors for the Racing Association and racing activities/events in general. As racing is an integral part of Club life to have such informative and complete reporting is invaluable. Jacqueline Heffernan has kept us informed about the social side of the Club, various Cruising Association members have contributed articles about their functions and cruises and Glenn Spear contributed articles on the activities of the Fishing Association. Matt Young, Marine Academy Co-ordinator, has also been proactive in providing articles on what is happening within this very important adjunct to our Club.
Trevor Paynter, our graphic designer, not only creatively lays out Groundswell ready for printing but he also contributes in a most enthusiastic way to the type of articles to be presented. Reflex Printing do a wonderful job of printing and getting the magazine out to members.
Every now and again Club members comment to me how much they enjoy the magazine, particularly the articles from members with regard to their boating adventures. The article Chris Wood wrote about cruising the West Coast added to the variety of topics printed and the stories from all of our overseas adventurers expand everyone’s horizons.
Over the years that I have been editing Groundswell, I have derived considerable pleasure working with other volunteers on such a great project, and take pride in contributing to such a high quality publication four times each year. We are always looking for contributions of articles and if anyone would like to volunteer their time to join the production group in some capacity, please make your interest known to us. It is a terrific way to support members and the Club.
Thank you for your support over the year and I trust you continue to enjoy contributing to and reading Groundswell.
Gay Footer, Chair Groundswell Editorial Committee
Cruising Yacht Club of South Australia Annual Report for 2011/201215
Association Reports
Statement of Cash Flow 31 May 2012
Balance Forward $8,891.00
IncomeBurgees Sale $0.00Moorings Income $40.00Port Vincent Project $0.00Sponsorship $0.00Cruise of the Year $0.00Interest $406.53Other Income $279.09Total $725.62
ExpensesEnvironmental Day (BBQ) $0.00Hospitality $0.00Flags $0.00Entertainment $0.00Trophies/Prizes $0.00Refridgerator $0.00Badges $0.00Mooring $104.55Total $104.55
Balance as at 31.5.12 $9,512.07
CruisingI am pleased to submit the report of the Cruising Committee for the 2011/2012 season.
I would like to start by recognising the committee members who have worked diligently throughout the year:Rob Perrin Deputy Chair and SecretaryMarty HeffernanGerard HughesTerry Denham
Being a relatively small group it was at times difficult to organise meetings and reach a quorum, but we did manage to hold them on a more regular basis than in past years and so I thank everyone for the effort they have made on behalf of the members of our Club.
The next person I wish to thank is Mark Charlesworth and Charlesworth Nuts for their continued support of the Cruising Association. Their support allows us to plan and undertake various projects for the benefit of all Club members and we are extremely grateful.
Now to the past season’s activities.
As seems to have been the case the last couple of seasons the weather has done its best to disrupt a good cruise. It seems every Cruise in Company planned for a holiday weekend was blown out, culminating in weather on Good Friday that was like an episode of The World’s Deadliest Catch if you were unfortunate enough to be on the water. However as always, as soon as the weather settled a bit Club boats took off in all directions and a good time was had in the usual spots around the gulf when two or more crews got together.
Our 2nd Saturday of the month barbecues have again been well attended, weather notwithstanding, and it was good to see a number of new faces throughout the season. They are in recess at the moment but will start again in September, and we look forward to seeing you there.
The subject of moorings has been something of a hot potato this year with the Board and management expressing concerns about the Club’s exposure to liability through the charging of fees and arranging bookings for their use. Thankfully this has been sorted and we are all in agreement about the way forward. We are working closely with the Fishing Association to upgrade all moorings at Edithburgh, Stansbury and Black point to the same standard, and will establish a routine inspection and maintenance schedule to ensure that these Club assets are kept in good order for the use of all members.
Last year at this time I told you that we wanted to install a weather camera and weather station that could be linked to the Club website. We have sourced the appropriate product information and prices, and are ready to go ahead with the installation as soon as the Club can budget for the cash expenditure in these fiscally restrained times.
One thing I am able to announce as an achievement this year is the restructure of the CA section of the Club website. It has been our aim to make our site more user friendly in the provision of information relevant to cruising to members, and I think we have achieved this with the new format. It is by no means exhaustive in its content but should be seen as an organic document that will grow with your input.
I am also able to report that the CA has allocated $3000 this year towards the renovation of the BBQ area at Pt. Vincent, a project that the Board has approved and which is now more like the original concept that we initially supported.
Lastly, I finish on what I hope will be seen as a high note with the reintroduction of the Cruise of the Year Dinner on 25 August. This once highlight of the Club’s social calendar has languished for some years and been bogged down in rules about who could win! We have done away with this concept and replaced it with a dinner to celebrate any and all cruising undertaken by Club members, so please come along and celebrate time on the water with your fellow cruisers.
As committee elections draw near we are always looking for new members that can bring new ideas and enthusiasm to the group. If you are able to give some of your time and energy please contact me or any of the other committee members. Your input would be valued.
Keith Degenhardt, Chair Cruising Association
Cruising Yacht Club of South Australia Annual Report for 2011/2012 16
Association Reports
FishingI have much pleasure in presenting the Annual Report for the Fishing Association.
The committee again worked tirelessly on various events and their support is very much appreciated. At this time, I am pleased to report that almost everyone has re-nominated for the committee next year.
Ray Baddeley is spending much of his time in Port Lincoln and will not re-nominate. I thank Ray for his support over the last few years.
The committee members for 2011/2012 were:Glenn Spear – ChairmanJohn Colella – SecretaryBruce Tasker – TreasurerRay BaddeleyPeter NewmarchLeica TheodoreGraham MeyersMalcolm KittoGeoff Wiggins
We are fortunate to have the support of several sponsors.
Custom Cartons, our longest serving sponsor, are valued contributors – thank you John Gerard.
Riviera – thanks to Paul Harrop and Ross Almond.
Maritimo – thank you to Andrew Craddock and team.
Cummins – again were naming sponsors for Crabbing Day. Thank you John, Andrew and team.
A new sponsor, Adelaide Motors were ‘on board’ for a very short time, however circumstances outside of the committee’s control meant that their support was lost.
The Fishing Association runs several important events in the Club calendar: In July 2011 we held our ‘Seafood Extravaganza’, with a maximum attendance of just over 140 people. The night was a huge success and the Club portrayed in a positive manner with an ‘up market’ focus. Central Audio Visual were major supporters
with all the audio/visual equipment donated. Special thanks to the Chef Peter and Mario for fantastic support.
In November 2011, the Boating Showcase was well supported. We again had several beautiful boats from Riviera and Maritimo on display and the enjoyable opportunity for people to mix and exchange ‘fishing’ stories.
Again, we appreciated the help of Tracey Spear, Louise Wiggins, Wendy West, Tina Schembri and Jenny Tymons for the delicious sweets that were provided on the night.
The second largest event on the Club calendar is Crabbing Day. Cummins were naming sponsor and it was a pleasure to host the boys on ‘Lifestyle 111’. We didn’t catch the most crabs but had a great time in enjoyable sea conditions. The Club boat CYC1, skippered by Ray Evans and crew, was again available to members who could not source a boat on the day – thanks guys.
We continued with our approach to have everyone participate in fishing on the day and we are pleased to see so many people embrace this philosophy. The crab catch was excellent, prizes were awarded in all categories and everyone was seated under shade. A raffle benefitting Ronald McDonald House was held and the Club received an official receipt and letter of thanks.
Crabbing Day is an important event in that it encourages an attitude of camaraderie between all members. It is very satisfying to see all Associations, staff and members pitch in to make the day a success – thank you.
We are to run a fishing competition later this year and we hope to make this an annual event. Please keep an eye out for this – it will be fun!
We encourage any Fishing Association members to nominate for trophy awards – details are on the website.
We are again proud to produce a positive cash contribution for Club members. The committee works diligently to control expenditure. All events are held in-house and the Club caters for these functions. Accordingly, the Club benefits from both a positive cash flow injection and the profit derived from catering.
Cruising Yacht Club of South Australia Annual Report for 2011/201217
Association Reports
The Fishing Association holds significant cash reserves of approximately $71,000.00. The committee feels that this money should be used for the benefit of Club members by way of infrastructure improvements. In collaboration with the Cruising Association, we are in the process of funding new moorings at Stansbury and Black Point. Fishing Association members will be able to use these moorings at no charge. If you are not a FA member, your $22.00 annual fee may be a good investment.
The committee voted to allocate significant funding for much needed upgrades to the bar area; particularly new patio blinds, flooring and painting etc. The Club supports our vision, however, have asked us to defer capital expenditure at this time. As the Club finances improve, we will implement and drive this much needed upgrade.
I am proud to be Chairman of the Fishing Association. I enjoy working with a dedicated committee. Thanks at this time to CYCSA staff, Cruising, Racing and Social Committee members. Special thanks to Commodore Geoff Catt, both he and Mavis make a special effort to attend many Club functions.
Glenn Spear, Chairman Fishing Association
Statement of Cash Flow 31 May 2012
Balance Forward $65,995.32
IncomeSubscription Fees $2,960.00Crabbing Day Income $4,159.06Sponsorship $6,500.00Shirts/Burgee/Flag Sales $31.82Seafood Night Income $9,924.16Fishing Competition $0.00Boat Show Income $0.00Moorings Income $20.00Interest $2,966.96Total $26,562.00
ExpensesSubscription Expenses $0.00Bar/Catering Expenses $658.09Crabbing Day Expenses $6,821.08Shirts/Embroidery $872.73Donations $0.00Fishing Competition $0.00Seafood Night Expenses $11,448.87Boat Show Expenses $1,282.83Flags $0.00Other Expenses/Meeting/Badges $805.04Total $21,888.64
Balance as at 31.5.12 $70,668.68
Fishing (continued)
Cruising Yacht Club of South Australia Annual Report for 2011/2012 18
Association Reports
SocialThis has been another very successful year for the committee.Events have included the Port River Rally, Mouse Cup, Girls Night In, Children’s Christmas Party, Let It Be Beatles Club Christmas Party, Boat Hop, Cruising into Winter Dinner, Progressive Dinner and the Commodore’s Dinner.
This year’s committee has consisted of Jacq Heffernan (Chair), Pam Humeniuk (Secretary), Sandra Richards (Treasurer), Morag Draper, Anne Burrows Jnr, Don Guy, and Karen Johns. It goes without saying that the partners of the above put in huge amounts of effort and I would like them to be recognised for that, including Pauline and Henry Garner, our very supportive volunteers.
The focus on the last 12 months has been on defining what works best for the Club. It seems that some of the previously very successful functions have run their course which simply means other great ideas are in the making.
The Port River Rally was a great day with a dozen boats, power and sail, large and small, snaking their way up the Port River (an idea that had been done before but not for many years). On this occasion, Marina Adelaide jumped at the opportunity to come on board (pardon the pun) and provide delightful refreshments at the marina in the Port River.
A diminishing number of young children meant fewer young ones attending the ever popular Children’s Christmas Party but, as always, it was a wonderful event.
The Boat Hop is a premier event and I hope the trend continues for the benefit of new and old members alike.
The committee are always thinking of ways to benefit external communities with the Girls Night In being a massive hit thanks to Morag Draper. The Queens of Clean raised $1800 for Movember, shared between our three male participants of the normally clean shaved variety, Vlad Humeniuk, Mario Cataldi and Shaun (barman).
I mention these two fundraising events to show that everyone with an idea is encouraged to consider the option seriously. The goal is to encourage members, old and new, to use the Club and the results are clearly evident.
Trying something different was the goal of the Progressive Dinner – Pam Humeniuk’s idea. This was a fantastic event and it was wonderful to see familiar faces from all facets of the Club; even a number of die-hard racers had crossed the marina to have a non-competitive night of fun.
As a result of funds raised over the years, the committee were happy to donate $5000 to the Port Vincent BBQ and will consider ongoing fundraising to help complete the project as it so well compliments the Club environment. We have also been able to donate a substantial amount towards capital expenditure on CYC1.
Last year’s Commodore’s Dinner was a great success with our Winter Wonderland Theme and spectacular decoration. At the
time of preparing this report there is one function left on our calendar for the Committee’s year, the 2012 Commodore’s Dinner. This is always a stunning event with a lot of effort and preparation involved, and we hope everyone will enjoy ‘A Night of Romance’.
Due to family commitments my time on the Committee has come to a sad close. Pam Humeniuk has been handed the helm at very short notice to see the year out and perhaps lead the fleet in the coming year.
Being part of this committee has been extremely rewarding and I shall miss the closeness of those who have been on this adventure with me. Part of the experience has been meeting new members who have become immersed in this unique Club environment and have now forged lifelong friendships.
Jacqueline Heffernan, Retiring Chair Social Activities Association
Statement of Cash Flow 31 May 2012
Carried Forward $13,846.47
IncomeMouse Cup $1,457.74Xmas Raffle $0.00Boat Hop $4,863.60Kids Xmas Party $1,666.09Commodore’s Dinner $8,686.29Girls Night In $0.00Cruising into Winter Night $45.45Cheese Night $0.00Fundraising $0.00Interest $545.76River Rally $218.16Total $17,483.09
ExpensesMouse Cup $863.19Xmas Party Expenses $433.83Boat Hop $4,888.07Kids Xmas Party Expenses $1,318.18Commodore’s Dinner $6,272.49Girls Night In $32.50Cruising into Winter Night $500.00Function Expenses $0.00Capital Items for the Club $0.00Funds donated to Racing Association $0.00Hospitality Expenses $622.26Other $754.35 CYC1 expenses $3,700.00 River Rally $181.59Total $19,566.46
Balance as at 31.5.12 $11,763.10
Cruising Yacht Club of South Australia Annual Report for 2011/201219
Association Reports
RacingRacing Association Committee members for 2011/12 were Traci Ayris (Chairperson), William Strangways (Vice Chair), Brenton Pegler, Roger Nicholson, John Gibson and Mark Hutton. Vice Commodore Rob Sellick was yet again a valuable asset ex-officio and Jess Hargreaves continued to prove her most excellent worth in the Race Office. On behalf of all racing members I thank each and every one for their time and support. The role of Race Officer is an often demanding and sometimes thankless task. REX acknowledges the time and effort John Gibson, Ray Evans and David Saies have invested to facilitate our season program as our represented RO’s.
Our Duty Crew volunteers and Race Officers are the backbone of the Racing Association and we cannot underestimate the dedication of this group or fail to value their efforts. Despite the fact that our protest committee has only convened on a few occasions, Simon Irving and Wayne Thompson have also been generous with their time when called upon and we thank them for their help and advice this past season.
The CYCSA Racing Association elected to work once again with the RSAYS to produce and implement a combined 2011/2012 Racing program. Both club associations canvassed members for their feedback on the previous years’ program and, in a collaborative effort, adjustments were made accordingly. The level of co-operation between both clubs over the past two seasons has continued to improve and, for the most part, skippers and crews are enjoying the combined fleets.
Racing Association membership numbers have remained largely static over the past three years and REX aims to increase, or at the very least maintain, this position this coming season. While three boats were removed from our Racing Association Fleet Register this past year we can report that nine boats were added to that same list.
REX noted an increase in all Regatta fleet sizes this past season. The Premiers Cup Regatta saw a fleet of 29 nominations, the Great Southern Regatta a fleet of 36 and Queen of the Gulf a total of 23. Building on the success of Ladies Helm Twilight Races we were also pleased to again see large fleets for both races.
On the suggestion of members, a casual race to Port Vincent, in conjunction with our short-handed series, was held recently. This weekend destination race also proved to be a great success.
Racing yachts from the CYCSA once again represented our Club interstate, notably the crews of Patrice IV and Two True which competed in the Sydney Hobart race. Two True also competed in Victoria’s 2012 Festival of Sails, posting a second place result in IRC Division B. The J24 Australian Championships were hosted at the CYCSA this year, a most successful regatta which REX will use as a template for similar events in the future. We were pleased to note that the number of crews from Port Adelaide Sailing Club joining us on occasion also increased and we hope that such inter-club camaraderie will continue to build.
No racing season is without its challenges. As a committee we continue to adapt, learn from mistakes, make adjustments where necessary, and work to solidify our position in this extremely challenging financial climate.
The Racing Association is also pleased to report that we have achieved most of the goals set at the end of last season. By making minor adjustments to our flexible membership fee structure we will continue to provide a range of joining options which will help to ensure that it is a simple process for any interested people to join us out on the water.
We also continue to work on consolidating the longevity of our Duty Crew volunteer group. Our core group is ever-reliable but we recognise the need to train back-up personnel and increase skills for the future in regard to new technology. It is fundamentally imperative that in future seasons our CYCSA duty boats can be crewed with teams as wonderful as those we have at present. As always, we welcome assistance from any interested members who might like to assist our wonderful volunteer crew on race days.
In the current financial climate we are overwhelmingly thankful for the support of our wonderful sponsors. Phil Hoffmann Travel, Port River Marine, Penfolds, Yalumba, MUSTO, Doyle Sailmakers, Stag Hotel and Canegrass Saltbush Lamb have once again been integral to the success of our season and we do urge our members to support our valuable sponsors whenever possible.
Cruising Yacht Club of South Australia Annual Report for 2011/2012 20
We are also thankful to businesses such as Sportsmed, Channel 7/Vislex and EverettBrookes Jewellery which chose to support the Association by sponsoring individual races and/or regattas during the season.
REX is mindful that Sponsorship is one of the major challenges our Association faces at this point in time. We are considering a number of fundraising initiatives for the coming season which will hopefully help to offset an anticipated decrease in corporate support.
Despite these uncertain times however, considerable belt-tightening by REX and close monitoring by Jess Hargreaves has ensured that our Association financials are a healthy testimony to the efforts undertaken to reduce any deficit to a bare minimum.
A new committee for 2012/13 will soon be convened but I anticipate that the ongoing focus for the next REX will be to maintain the core business of the association:
• PlanandfacilitateaProgramwhichcatersfortheongoingneeds of racing members
• Improvetheskillset/sizeofthevolunteerpoolandstreamlineprotocols with a view to Duty of Care
• WorkwithassociatedgroupstofurtherthesportofYachting
• Maintain/improvetheAssociation’sfinancialpositionviamembership, sponsorship and fundraising initiatives
Thanks, in the main, to our wonderful Racing Manager Jess Hargreaves, the Racing Association can report that the past season, while not without its challenges, has progressed well. The committee looks forward to finalising the 2012/13 Program as it prepares for another successful season of racing.
Traci Ayris, Chair Racing Association
Association Reports
Statement of Cash Flow 31 May 2012
Carried Forward $40,549.68
IncomeRacing Fees $26,074.08Casual Racing Fees $1,490.77Racing Nominations $22,536.18Casual Nominations $1,631.95Event Nominations $18.18J24 Australian Championship $3,863.61Fundraising $1,303.77Flags $1,081.82Book Sales $29.09Buoy Maintenance $615.00Presentation Night Income $1,041.65Sail Storage Shed $6,340.95Interest Income $1,877.26Other Income $125.91Sponsorship Musto $0.00Yalumba $2,000.00Phil Hoffmann Travel $7,500.00Winter Port River Marine $4,545.46Sportsmed SA $1,500.00EverettBrookes Custom Jewellery $500.00Vislex $500.00Total Income $84,575.68
ExpenseAdministration $54,349.26Event Expenses $24.27Staff Training $0.00CYC1 $25,000.00Airhorn $36.27Office Expenses $0.00Buoy Maintenance $821.46Sponsors Expenses $340.91Duty Crew Expenses $2,580.91Hospitality $733.17Blue Books expenses $0.00Clothing $0.00Internet /Computing $350.00Fax machine $49.00Flags $272.73Motor Vehicle Expenses $0.00Presentation Night expenses $2,286.96Regattas Expenses $0.00Trophies $949.06Other Expenses $111.27Total Expenses $87,905.27
Balance as at 31.5.12 $37,220.09
Racing (continued)
Cruising Yacht Club of South Australia Annual Report for 2011/201221
CYC Ramp Pty LtdAs trustee for
CYC (SA) Management Pty Ltd
CYC Ramp TrustOwns Marina West,
ramp and adjacent land and water, including
channel
CYC (SA) Unit TrustOwns land and water, buildings, Marina East
• Underlease of Port Vincent Marina from the
Yorke Peninsula Council• Lease of Marina West
CYCSA Incorporated
• Operates bar and slip• Staff
• Rents buildings and Marina East from CYC (SA)
Unit Trust• Underlease of Marina
West and Port Vincent from CYC (SA) Unit Trust
BeneficiariesCYC (SA) Unit Trust
CYCSA Inc
BeneficiariesSenior Members
Members
BOARD OF MANAGEMENTDirectors elected annually by Senior Members
Profits Profits
The following diagrammatical representation of the Club’s structure is provided to clarify the relationship between the associated entities and the function each entity undertakes in the total Club structure.
CYCSA Incorporated (referred to as ‘the Club’)• SeniorMemberselectasevenmemberBoardofManagement
annually.
• TheBoardofManagement(‘theBoard’)
- is responsible for the management of the Club with delegation of appropriate responsibilities to the Executive Officer.
- act as Directors of CYC (SA) Management Pty Ltd, the trustee of the CYC (SA) Unit Trust.
- act as Directors of CYC Ramp Pty Ltd, the trustee of the CYC Ramp Trust.
• TheClubownsthefloatingassetsinMarinaWest.
CYC (SA) Unit Trust• ThemajorassetsofthistrustarethefreeholdoftheClub
Eastern Basin at North Haven, including land, water and buildings, and the sub-lease of the Port Vincent Marina and a lease of the land and water of Marina West (which is sublet to the Club).
• AllSeniorMembersholdunitsinthistrustandthereforehavea beneficial interest in the above assets.
• Asanassetholdingentity,thetrust’saffairsdonotgenerateprofits that can be distributed to unit holders.
CYC Ramp Trust• Thisisthetrustestablishedintheearly1990stofacilitate
the purchase of property including the southern area of the carpark, the land to the south and the Western Basin.
• ThemajorassetsofthetrustaretheWesternBasinincludingMarina West and the water area adjoining the northern peninsula.
• Thetrustalsooperatesthepublicboatramp.
• ThetrustleasesMarinaWestland/watertotheCYC(SA)UnitTrust.
• Thetrust,beingadiscretionarytrust,doesnothaveowners,but the beneficiaries of the trust are the Club and the CYC (SA) Unit Trust. The trust has made distributions to the Club in the past.
Club Structure
Cruising Yacht Club of South Australia Annual Report for 2011/2012 22
Independent Audit Report to the Members of the Cruising Yacht Club of SA Inc and Controlled Entities
Report on the Financial ReportWe have audited the accompanying financial report of the consolidated
entity comprising CYC (SA) Unit Trust and the entities it controlled at
the year’s end or from time to time during the financial year, which
comprises the statement of financial position as at 31 May 2012, the
statement of comprehensive income, the statement of changes in
equity and the statements of cash flows for the year then ended, notes
comprising a summary of significant accounting policies and other
explanatory information, and the statement by the Trustees and Board of
Management of the Cruising Yacht Club of SA Inc.
Management’s Responsibility for the Financial ReportManagement is responsible for the preparation and fair presentation of
the financial report in accordance with Australian Accounting Standards
and for such internal control as management determines is necessary to
enable the preparation of the financial report that is free from material
misstatement, whether due to fraud or error.
Auditor’s ResponsibilityOur responsibility is to express an opinion on the financial report based on
our audit. We conducted our audit in accordance with Australian Auditing
Standards. Those standards require that we comply with relevant ethical
requirements relating to audit engagements and plan and perform the
audit to obtain reasonable assurance about whether the financial report is
free from material misstatement.
An audit involves performing procedures to obtain audit evidence about
the amounts and disclosures in the financial report. The procedures
selected depend on the auditor’s judgement, including the assessment
of the risks of material misstatement of the financial report, whether due
CYCSA Inc and Controlled Entities
to fraud or error. In making those risk assessments, the auditor considers
internal control relevant to the entity’s preparation and fair presentation
of the financial report in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the entity’s internal control. An audit also
includes evaluating the appropriateness of accounting policies used and
the reasonableness of accounting estimates made by management, as well
as evaluating the overall presentation of the financial report.
We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our audit opinion.
OpinionIn our opinion, the financial report presents fairly, in all material respects,
the financial position of the consolidated entity, as at 31 May 2012,
and its financial performance and cash flows for the year then ended in
accordance with Australian Accounting Standards.
PKF
Chartered Accountants
G K EdwardsPartner
Signed in Adelaide this 30th day of July 2012
Tel 08 7421 1400 I Fax 08 7421 1499
adelaide@pkf.com.au I www.pkf.com.au
A South Australian Partnership I ABN 21 903 784 597
Level 2 I 139 frome Street I Adelaide I South Australia 5000
GPO Box 2505 I Adelaide I South Australia 5001
PKF Adelaide Audit Practice is a member of PKF Australia Limited a national association of independent chartered accounting and consulting firms each trading as PKF, PKF
Australia Limited is a member of PKF International, an association of legally independent chartered accounting and consulting firms.
Liability limited by a scheme approved under Professional Standards Legislation
Cruising Yacht Club of South Australia Annual Report for 2011/201223
Statement of Comprehensive Incomefor the Year Ended 31 May 2012
Note 2012 2011
$ $
Revenue 2 2,984,383 2,947,213
Other revenue 2 243,394 107,586
Employee benefits expense (1,140,118) (1,024,054)
Depreciation (599,807) (581,844)
Rates & taxes (122,788) (131,937)
Insurance (79,239) (79,585)
Impairment expense (12,230) 23,292
Repairs & maintenance expenses (281,586) (247,872)
Cost of sales (445,587) (390,371)
Other expenses (708,381) (801,373)
Finance costs (38) (65)
Operating surplus/(deficiency) 3 (161,995) (179,010)
Other comprehensive income - -
Total comprehensive income (161,995) (179,010)
The above statement of financial position should be read in conjunction with the accompanying notes.
Cruising Yacht Club of South Australia Annual Report for 2011/2012 24
Note 2012 2011
$ $
Assests
Current assets
Cash and cash equivalents 5 866,877 719,139
Trade and other receivables 6 81,345 124,706
Inventories 7 60,026 45,340
Other assets 8 63,395 40,080
Total Current Assets 1,071,643 929,265
Non-Current Assets
Property, plant and equipment 9 17,957,083 18,519,679
Total Non-Current Assets 17,957,083 18,519,679
Total Assets 19,028,726 19,448,945
Liabilities
Current Liabilities
Trade and other payables 10 478,847 578,636
Short-term provisions 11 127,266 120,283
Total Current Liabilities 606,113 698,919
Non Current Liabilities
Trade and other payables 10 5,489,686 5,641,939
Other long-term provisions 11 43,515 49,126
Total Non Current Liabilities 5,533,201 5,691,065
Total Liabilities 6,139,308 6,389,984
Net Assets 12,889,418 13,058,961
Equity
Issued Capital 12 6,118,737 6,126,287
Reserves 5,697,666 5,697,666
Retained earnings 1,073,015 1,235,008
otal Equity 12,889,418 13,058,961
Statement of Financial Positionas at 31 May 2012
The above statement of financial position should be read in conjunction with the accompanying notes.
Cruising Yacht Club of South Australia Annual Report for 2011/201225
Contributed Retained Premium Revaluation Total
Capital Earnings Reserve Reserve
$ $ $
2012
Balance at 1 June 2011 6,126,287 1,235,010 1,305,150 4,392,516 13,058,966
Contributed capital (7,550) - - - (7,550)
Operating surplus for the year - (161,995) - - (161,995)
Balance at 31 May 2012 6,118,737 1,073,015 1,305,150 4,392,516 12,889,421
2011
Balance at 1 June 2010 6,044,187 1,414,019 1,305,150 4,315,366 13,078,722
Contributed capital 82,100 - - 77,150 159,250
Operating surplus for the year - (179,010) - - (179,010)
Balance at 31 May 2011 6,126,287 1,235,010 1,305,150 4,392,516 13,058,966
Statement of Changes in Equityfor the Year Ending 31 May 2012
The above statement of financial position should be read in conjunction with the accompanying notes.
Cruising Yacht Club of South Australia Annual Report for 2011/2012 26
Note 2012 2011
$ $
Cash flows from operating activities
Receipts from customers 3,206,650 2,963,452
Payments to suppliers and employees (3,069,906) (2,868,380)
Interest paid (38) (65)
Interest received 55,791 50,211
Net cash provided by (used in) operating activities 15(a) 192,498 145,218
Cash flows from investing activities:
Payment for property, plant and equipment (37,210) (275,736)
Net cash provided by (used in) investing activities (37,210) (275,736)
Cash flows from financing activities:
Proceeds from issue/(redemption) of units in Unit Trust (7,550) 159,250
Proceeds from sale of berth licences - 400,637
Net cash provided by (used in) financing activities (7,550) 559,887
Net increase (decreases) in cash held 147,738 429,369
Cash at beginning of financial year 719,139 289,770
Cash at end of financial year 5 866,877 719,139
Statement of Cash Flowsfor the Year Ending 31 May 2012
The above statement of financial position should be read in conjunction with the accompanying notes.
Cruising Yacht Club of South Australia Annual Report for 2011/201227
Note 1: Summary of Significant Accounting PoliciesGeneral InformationThe financial report covers the Cruising Yacht Club of SA Inc. (the
Association) and Controlled Entities comprising the Association, CYC (SA)
Unit Trust and CYC Ramp Trust, as a consolidated group (“the group”).
The Cruising Yacht Club of SA Inc. is an Incorporated Association,
established and domiciled in Australia.
The principal accounting policies adopted in the preparation of the
financial statements are set out below. These policies have been
consistently applied to all the years presented, unless otherwise stated.
New, Revised or Amending Accounting Standards and Interpretations AdoptedThe group has adopted all of the new, revised or amending Accounting
Standards and interpretations issued by the Australian Accounting
Standards Board (‘AASB) that are mandatory for the current reporting
period.
The group has early adopted AASB 1053 ‘Application of Tiers of Australian
Accounting Standards’ and AASB 2010-02 ‘Amendments to Australian
Accounting Standards arising from Reduced Disclosure Requirements’. No
other new, revised or amending Accounting Standards or Interpretations
that are not yet mandatory have been early adopted.
Any significant impact on the accounting policies of the incorporated
association from the adoption of these Accounting Standards and
Interpretations are disclosed in the relevant accounting policy. The
adoption of these Accounting Standards and Interpretations did not have
any significant impact on the financial performance or position of the
group.
The following Accounting Standards and Interpretations are most relevant
to the incorporated association:
AASB 1053 Application to Australian Accounting Standards
The group has early adopted AASB 1053 from 1 June 2011. This standard
establishes a differential financial reporting framework consisting of two
Tiers of reporting requirements for preparing general purpose financial
statements, being Tier 1 Australian Accounting Standards and Tier 2
Australian Accounting Standards – Reduced Disclosure Requirements. The
group being classed as Tier 2 continues to apply the full recognition and
measurements requirements of Australian Accounting Standards with
substantially reduced disclosure in accordance with AASB 2010-2.
AASB 2010-2 Amendments to Australian Standards Arising from Reduced
Disclosure Requirements
The group has early adopted AASB 2010-2 from 1 January 2011. These
amendments make numerous modifications to a range of Australian
Accounting Standards and Interpretations, to introduce reduced disclosure
requirements to the pronouncements for application by certain types of
entities in preparing general purpose financial statements. The adoption
of these amendments has eliminated various disclosure requirements that
were considered not to add value to the financial report, and is consistent
with the practice of a number of comparable organisations.
Basis of PreparationThese general purpose financial statements have been prepared in
accordance with Australian Accounting Standards – Reduced Disclosure
Requirements and Interpretations issued by the Australian Accounting
Standards Board (‘AASB’). These financial statements do not comply with
International Financial Reporting Standards as issued by the International
Accounting Standards Board (‘IASB’).
Historical Cost Convention
The financial statements have been prepared under the historical cost
convention, except for the revaluation of certain non-current assets.
(a) Principles of Consolidation
The consolidated financial statements incorporate the assets, liabilities
and results of the entities controlled by the Cruising Yacht Club of
SA Inc. at the end of the reporting period. A controlled entity is an
entity over which the Cruising Yacht Club of SA Inc. has the power
to govern the financial and operating policies so as to obtain benefits
from its activities. In assessing the power to govern, the existence and
effect of holdings of actual and potential voting rights are considered.
A list of controlled entities is contained in Note 14 to the financial
statements.
All inter-group balances and transactions between entities in
the Group, including any unrealised profits or losses, have been
eliminated on consolidation. Accounting policies of subsidiaries have
been changed where necessary to ensure consistency with those
adopted by the parent entity.
(b) Income Tax
The Cruising Yacht Club of SA Inc is exempt from income tax under
Div 50 of the Income Tax Assessment Act 1997. Under current
income tax legislation, the CYC (SA) Unit Trust and the Ramp Trust
are not liable to income tax provided their taxable income is fully
distributed to beneficiaries.
(c) Inventories
Inventories are measured at the lower of cost and current
replacement cost.
(d) Property, Plant and Equipment
Each class of property, plant and equipment is carried at cost or
fair value as indicated less, where applicable, any accumulated
depreciation and impairment losses.
Property, plant and equipment are shown at their fair value (being
the depreciated replacement cost of the asset), based on periodic
valuations by external independent valuers, less subsequent
depreciation.
In periods where the property plant and equipment are not subject
to independent valuation, the directors conduct director valuations
to ensure the carrying amount is not materially different to the fair
value.
Increases in the carrying amount arising on revaluation of property,
plant and equipment are credited to a revaluation reserve in
equity. Decreases that offset previous increases of the same asset
are charged against fair value reserves directly in equity; all other
decreases are charged to the statement of comprehensive income.
Notes to the Financial Statementsfor the Year Ending 31 May 2012
Cruising Yacht Club of South Australia Annual Report for 2011/2012 28
Notes to the Financial Statementsfor the Year Ending 31 May 2012
Any accumulated depreciation is eliminated against the gross carrying
amount of the assets and the net amount is restated to the re-valued
amount of the asset.
The carrying amount of property, plant and equipment is reviewed
annually by the directors to ensure it is not in excess of the recoverable
amount from these assets. Refer Note 1 (g) for further details in
relation to the treatment of assets when impaired
The cost of fixed assets constructed within the economic entity
includes the cost of materials, direct labour and borrowing costs.
Subsequent costs are included in the asset’s carrying amount or
recognised as a separate asset, as appropriate, only when it is
probable the future economic benefits associated with the item
will flow to the economic entity and the cost of the item can be
measured reliably. All other repairs and maintenance are charged to
the statement of comprehensive income during the financial period in
which they are incurred.
Depreciation
The depreciable amount of all fixed assets including buildings and
capitalised leased assets, but excluding freehold land, is depreciated
on a straight-line basis over the asset’s useful life to the economic
entity commencing from the time the asset is held ready for
use. Leasehold improvements are depreciated over the shorter of
either the unexpired period of the lease or the estimated useful lives
of the improvements.
The depreciation rates used for each class of depreciable assets are:
Class of Fixed Asset Depreciation Rate
Buildings 3%
Marina 2.5%
Plant and equipment 3% - 50%
The assets’ residual values and useful lives are reviewed, and adjusted
if appropriate, at each balance sheet date.
An asset’s carrying amount is written down immediately to its recoverable
amount if the asset’s carrying amount is greater than its estimated
recoverable amount.
Gains and losses on disposals are determined by comparing proceeds
with the carrying amount. These gains and losses are included in the
statement of comprehensive income. When revalued assets are sold,
the amounts included in the revaluation reserve relating to that asset are
transferred to retained earnings.
(e) Leases
Leases of fixed assets where substantially all the risks and benefits
incidental to the ownership of the asset, but not the legal ownership,
that are transferred to entities in economic entity are classified as
finance leases.
Finance leases are capitalised by recording an asset and a liability at
the lower of the amounts equal to the fair value of the leased property
or the present value of the minimum lease payments, including any
guaranteed residual values. Lease payments are allocated between the
reduction of the lease liability and the lease interest expense for the
period.
Leased assets are depreciated on a straight-line basis over their
estimated useful lives.
Lease payments for operating leases, where substantially all of the
risks and benefits remain with the lessor, are charged as expenses on
a straight line basis over the life of the lease term.
(f) Financial Instruments
Initial Recognition and Measurement
Financial assets and financial liabilities are recognised when the
economic entity becomes a party to the contractual provisions to the
instrument. For financial assets, this is the equivalent to the date that
the economic entity commits itself to either purchase or sale of the
asset (i.e. trade date accounting is adopted).
Financial instruments are initially measured at fair value plus
transactions costs, except where the instrument is classified ‘at fair
value through profit or loss’, in which case transaction costs are
expensed to profit or loss immediately.
Classification and Subsequent Measurement
Finance instruments are subsequently measured at either of fair value,
amortised cost using the effective interest rate method, or cost. Fair
value represents the amount for which an asset could be exchanged
or a liability settled, between knowledgeable, willing parties. Where
available, quoted prices in an active market are used to determine fair
value. In other circumstances, valuation techniques are adopted.
(i) Amortised cost is calculated as:
• theamountinwhichthefinancialassetorfinancialliabilityis
measured at initial recognition;
• lessprincipalrepayments;
• lessanyreductionforimpairment.
The effective interest method is used to allocate interest income
or interest expense over the relevant period and is equivalent to
the rate that exactly discounts estimated future cash payment or
receipts (including fees, transaction costs and other premiums or
discounts) through the expected life (or when this cannot be reliably
predicted, the contractual term) of the financial instrument to the net
carrying amount of the financial asset or financial liability. Revisions
to expected future net cash flows will necessitate an adjustment to
the carrying value with a consequential recognition of an income or
expense in profit or loss.
The economic entity does not designate any interests in subsidiaries,
associates or joint venture entities as being subject to the
requirements of accounting standards specifically applicable to
financial instruments.
(ii) Financial assets at fair value through profit and loss
Financial assets are classified at ‘fair value through profit or loss’
when they are either held for trading for the purpose of short-term
profit taking, derivatives not held for hedging purposes, or when they
are designated as such to avoid an accounting mismatch or to enable
performance evaluation where a group of financial assets is managed
by key management personnel on a fair value basis in accordance
with a documented risk management or investment strategy. Such
assets are subsequently measured at fair value with changes in
carrying value being included in profit or loss.
Cruising Yacht Club of South Australia Annual Report for 2011/20122929
(iii) Loans and Receivables
Loans and receivables are non derivative financial assets with fixed or
determinable payments that are not quoted in an active market and
are subsequently measured at amortised cost.
Loans and receivables are included in current assets except for those
which are not expected to mature within 12 months after the end of
the reporting period, which will be classified as non current assets.
(iv) Held-to-maturity investments
Held to maturity investments are non derivative financial assets that
have fixed maturities and fixed or determinable payments, and it is
the Group’s intention to hold these investments to maturity. They are
subsequently measured at amortised cost.
Held to maturity investments are included in non current assets,
except for those which are expected to mature within 12 months
after the end of the reporting period, which will be classified as
current assets.
If during the period the economic entity sold or reclassified more
than an insignificant amount of held to maturity investments before
maturity, the entire category of held to maturity investments would
be tainted and would be reclassified as available for sale.
(v) Available-for-sale financial assets
Available-for-sale financial assets are non-derivative financial assets
that are either not suitable to be classified into other categories
of financial assets due to their nature, or they are designated as
such by management. They comprise investments in the equity of
other entities where there is neither a fixed maturity nor fixed or
determinable payments.
Available-for-sale financial assets are included in non-current assets,
except for those which are expected to mature within 12 months
after the end of the reporting period, which will be classified as
current assets.
(vi) Financial liabilities
Non-derivative financial liabilities (excluding financial guarantees) are
subsequently measured at amortised cost.
At each reporting date, economic entity assess whether there is
objective evidence that a financial instrument has been impaired.
In the case of available-for-sale financial instruments, a prolonged
decline in the value of the instrument is considered to determine
whether an impairment has arisen.
Derecognition
Financial assets are derecognised where the contractual rights to
receipt of cash flows expires or the asset is transferred to another
party whereby the entity no longer has any significant continuing
involvement in the risks and benefits associated with the asset.
Financial liabilities are derecognised where the related obligations are
either discharged, cancelled or expired. The difference between the
carrying value of the financial liability extinguished or transferred to
another party and the fair value of consideration paid, including the
transfer of non cash assets or liabilities assumed is recognised in profit
or loss.
(g) Impairment of Assets
At each reporting date, the economic entity reviews the carrying values
of its tangible and intangible assets to determine whether there is any
indication that those assets have been impaired. If such an indication
exists, the recoverable amount of the asset, being the higher of the
asset’s fair value less costs to sell and value in use, is compared to the
asset’s carrying value. Any excess of the asset’s carrying value over its
recoverable amount is expensed to the statement of comprehensive
income.
Where it is not possible to estimate the recoverable amount of an
individual asset, the economic entity estimates recoverable amount of
the cash generating unit to which the asset belongs.
(h) Cash and Cash Equivalents
Cash and Cash Equivalents include cash on hand, deposits 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 statement of financial position.
(i) Employee Benefits
Provision is made for the economic entity’s liability for employee
benefits arising from services rendered by employees to balance date.
Employee benefits that are expected to be settled within one year have
been measured at the amounts expected to be paid when the liability
is settled. Employee benefits payable later than one year have been
measured at present value of the estimated future cash outflows to be
made for those benefits. These cashflows are discounted using market
yields on national government bonds with terms to maturity that match
the expected timing of cashflows.
Notes to the Financial Statementsfor the Year Ending 31 May 2012
Cruising Yacht Club of South Australia Annual Report for 2011/2012 30
Notes to the Financial Statementsfor the Year Ending 31 May 2012
(j) Provisions
Provisions are recognised when the economic entity has a legal or
constructive obligation, as a result of past events, for which it is
probable that an outflow of economic benefits will result and that
outflow can be reliably measured.
(k) Revenue and Other Income
Revenue from the sale of goods is recognised at the point of delivery
as this corresponds to the transfer of significant risks and rewards of
ownership of the goods and the cessation of all involvement in those
goods.
Annual membership subscriptions and fees raised by the economic
entity during the year are recognised as gross revenue.
Licence rental income to occupy Marina West berths have been
accounted for in accordance with Australian Accounting Standard
AASB 117 Leases. In accordance with that standard, the licence
rental income to occupy a berth is recognised over a 40 year period,
representing the time pattern in which use benefit derived from the
berth is diminished (the actual licences to occupy berths all expire
2083). The amount of licence rental income received that represents
income to be earned in future accounting periods is disclosed in the
Statement of Financial Position as being revenue received in advance.
The accounting policy for the historic sale of licence rental to occupy
Marina East berths to 2083 was to recognise the entire income
wholly as income in the year received.
All revenue is stated net of the amount of goods and services tax
(GST).
(l) Borrowing Costs
Borrowing costs directly attributable to the acquisition, construction
or production of assets that necessarily take a substantial period of
time to prepare for their intended use or sale, are added to the cost
of those assets, until such time as the assets are substantially ready
for their intended use or sale.
All other borrowing costs are recognised in income in the period in
which they are incurred.
(m) Goods and Services Tax (GST)
Revenues, expenses and assets are recognised net of the amount of
GST, except where the amount of GST incurred is not recoverable
from the Tax Office. In these circumstances the GST is recognised as
part of the cost of acquisition of the asset or as part of an item of
the expense. Receivables and payables in the statement of financial
position are shown inclusive of GST.
Cash flows are presented in the statement of cash flows on a gross
basis, except for the GST component of investing and financing
activities, which are disclosed as operating cash flows.
(n) Comparative Figures
When required by Accounting Standards, comparative figures have
been adjusted to conform to changes in presentation for the current
financial year.
Where the economic entity has retrospectively applied an accounting
policy, made a retrospective restatement or reclassified items in its
financial statements, an additional statement of financial position as
at the beginning of the earliest comparative period will be disclosed.
(o) Critical Accounting Estimates and Judgments
The directors evaluate estimates and judgments incorporated into
the financial report based on historical knowledge and best available
current information. Estimates assume a reasonable expectation
of future events and based on current trends and economic data,
obtained both externally and within the economic entity.
Key Estimates – Impairment
The economic entity assesses impairment at each reporting date
by evaluating conditions specific to the economic entity that may
be indicative of impairment triggers. Recoverable amounts of
relevant assets are reassessed using value in use calculations which
incorporate various key assumptions.
With respect to cash flow projections for plant and equipment
based in Australia, growth rates of 2% have been factored into
valuation models for the next ten years on the basis of management’s
expectations. Discount rates of 10% have been used in all models.
Key Judgments – Doubtful Debts Provision
Included in trade receivables at reporting date are amounts receivable
from members in relation to berth sales and member accounts
amounting to $11,000 (2011 - $11,000) for which a provision has
been made.
(p) New Accounting Standards for Application in Future Periods
The AASB has issued new and amended Accounting Standards and
interpretations that have mandatory application dates for future
reporting periods and which the economic entity has decided not to
early adopt. The economic entity does not expect these requirements
to have any material effect on the entity’s financial statements.
Cruising Yacht Club of South Australia Annual Report for 2011/201231
Notes to the Financial Statementsfor the Year Ending 31 May 2012
2012 2011 $ $
Revenue
- Sale of goods 930,089 829,142
- Commission revenue 82,378 208,356
- Corporate fees 883,385 852,545
- Income - Marine Academy 38,526 35,246
- Licence rental - Marina West 152,253 145,480
- Income - Racing Association 72,680 63,771
- Ramp income 118,321 120,392
- Slipway 68,287 65,849
- Member subscriptions 551,445 544,979
- Other revenue 87,019 81,453
Total Revenue 2,984,383 2,947,213
Other Revenue
Other Income 243,394 107,586
- Other income 243,394 107,586
Note 2: Revenue and Other Income
Expenses
The operating deficit for the year has been arrived at after charging:
Interest 38 65
Depreciation 599,807 581,844
Impairment expense 12,230 (23,292)
Rental expense 12,815 13,831
Cash on hand 20 20
Cash at bank 99,663 59,386
Short-term bank deposits 767,194 639,542
Trust account - 20,191
868,877 719,139
Note 3: Profit for the Year
Note 4: Cash and Cash Equivalents
Cruising Yacht Club of South Australia Annual Report for 2011/2012 32
Notes to the Financial Statementsfor the Year Ending 31 May 2012
2012 2011 $ $
Cash at the end of the financial year as shown in the cash flow
statement is reconciled to items in the balance sheet as follows:
Cash and cash equivalents 868,877 719,139
Bank overdraft - -
868,877 719,139
Note 5: Reconciliation of Cash
Current
Trade receivables 92,345 135,706
Provision for impairment of receivables (11,000) (11,000)
81,345 124,706
Note 6: Trade and Other Receivables
Provision for Impairment of ReceivablesCurrent trade receivables are generally on 7 to 30 day terms. These receivables are assessed for recoverability and a provision for impairment is recognised when there is objective evidence that an individual trade receivable is impaired. These amounts have been included in other
expense items.
Movement in the provision for impairment of receivables is as follows:
There are no balances within trade and other receivables that contain
assets that are not impaired and are past due. It is expected these balances
will be received when due. Impaired assets are provided for in full.
Opening Charge for Amount Closing Balance the Year Written Off Balance
$ $ $ $
Current Trade Receivables 2012 11,000 - - 11,000
Current Trade Receivables 2011 33,143 11,000 (33,143) 11,000
Note 8: Other Assets
Current
Stock on hand 60,026 45,340
60,026 45,340
Current
Prepayments 63,395 33,294
Accrued income - 6,787
63,395 40,080
Note 7: Inventories
Cruising Yacht Club of South Australia Annual Report for 2011/201233
Notes to the Financial Statementsfor the Year Ending 31 May 2012
2012 2011
$ $
Land at valuation 6,800,000 6,800,000
Buildings at valuation and subsequent cost 2,037,951 2,037,951
Accumulated depreciation (249,119) (188,401)
Total buildings 1,788,832 1,849,550
Leased Plant and Equipment at cost 32,800 32,800
Accumulated depreciation (32,800) (32,800)
Total leased plant and equipment - -
Plant and Equipment at valuation and subsequent cost 926,962 896,827
Accumulated depreciation (418,953) (297,053)
Total plant and equipment 508,009 599,774
Office Equipment at valuation and subsequent cost 105,128 98,053
Accumulated depreciation (69,612) (51,151)
Total office equipment 35,516 46,902
Marina West at cost 8,308,666 8,308,666
Accumulated Depreciation (663,456) (452,458)
Total Marina West 7,645,210 7,856,208
Marina East at valuation and subsequent cost 1,929,299 1,929,299
Accumulated depreciation (749,783) (562,054)
Total Marina East 1,179,516 1,367,245
Total property, plant and equipment 17,957,083 18,519,679
Note 9: Property, Plant and Equipment
(a) Assets held at valuation The Cruising Yacht Club of SA Inc
The Association’s property, plant and equipment were revalued at 1 June 2007 by independent valuers.
Valuations were made on the fair market value - existing use basis. The revaluation surplus was credited to an asset revaluation reserve in member’s equity.
CYC (SA) Unit Trust
The marina and improvements comprise all leasehold improvements formally the property of the Cruising Yacht Club of South Australia Incorporated and
valued by the directors of the CYC (SA) Management Pty Limited at the time of the purchase of the land by the Trust in 1985. Units to the value of this
amount were issued to members of the Cruising Yacht Club of South Australia Incorporated in accordance with the constitution of the CYC (SA) Unit
Trust.
The property, plant and equipment were revalued at 9 April 2008 by independent valuers. Valuations were made on the market value, existing use and
depreciated replacement value. The revaluation surplus was credited to an asset revaluation reserve in member’s equity.
Cruising Yacht Club of South Australia Annual Report for 2011/2012 34
Notes to the Financial Statementsfor the Year Ending 31 May 2012
2012 2011
$ $
Current
Unsecured liabilities
Trade payables 94,568 148,261
Other payables 232,026 258,122
Marina West revenue received in advance 152,253 152,253
Secured Liabilities
Berth deposits - 20,000
Total current liabilities 478,847 578,636
Non-Current
Marina West revenue received in advance 5,489,686 5,641,939
Total non-current liabilities 5,489,686 5,641,939
Note 10: Trade and Other Payables
The unit premium reserve records premiums attached to units.
The asset revaluation reserve records revaluation of non-current assets
Note 13: Reserves
Current
Provision for annual leave 93,022 82,620
Provision for long service leave 34,244 37,663
127,266 120,283
Non-Current
Employee benefits 43,515 49,126
43,515 49,126
Note 11: Provisions
Note 12: Issued Capital
Settled capital 592 592
121,806 (2011: 120,321) fully paid issued units at $50
Each 6,090,600 6,098,150
27,545 (2011: 27,545) fully paid issued units at $1
Each 27,545 27,545
Total 6,118,737 6,126,287
Cruising Yacht Club of South Australia Annual Report for 2011/201235
Notes to the Financial Statementsfor the Year Ending 31 May 2012
The economic entity’s financial report includes the following controlled entities:Contribution to the consolidated operating surplus/(deficit)
Cruising Yacht Club of SA Inc. 47,036 24,522
CYC (SA) Unit Trust (209,031) (203,532)
Less: Ramp distribution (127,012) (131,666)
CYC Ramp Trust 127,012 131,666
Less: inter-entity profit - -
Share of controlled entities’ surplus/(deficit) after income tax (161,995) (179,010)
Note 14: Controlled Entities
Credit Standby Arrangement and Loan Facilities The economic entity has a bank overdraft and commercial bill facility
amounting to $50,000 (2011: $50,000). This may be terminated at
any time at the option of the bank. At 31 May 2012, none of this
facility was used (2011: $ Nil). Interest rates are variable.
Note 15: Cash Flow Information
2012 2011
$ $
Note 16: Related Party Transactions
CYC (SA) Management Pty Ltd operates as trustee for the CYC (SA) Unit
Trust (“The Trust”). The directors of CYC (SA) Management during the
year ended 31 May 2012 were as follows:
A G Corletto (retired December 2011), H J Peterson, Dr A D Saies, D J
Hughes, C L Wood (appointed April 2012), W E Coonan, T J Tymons and
D P Murray. All positions are held on an honorary basis.
The following directors, through entities associated with them, provided
goods and services during the year under normal commercial terms and
conditions, to the value of:
T J Tymons - 28,438
A G Corletto 1,733 10,861
W Coonan 8,261 9,566
Total 9,994 48,865
Cruising Yacht Club of South Australia Annual Report for 2011/2012 3636
Notes to the Financial Statementsfor the Year Ending 31 May 2012
A bill discount line is provided to CYC (SA) Management Pty Ltd as trustee for the CYC (SA) Unit Trust. Cross guarantees in support of the facility have been provided over the non-current assets of CYC (SA) Unit Trust. As at the 31 May 2012 $nil was drawn down on the bill facility (2011: $Nil).
A bank overdraft facility of $50,000 is provided to the Cruising Yacht Club of SA Inc., which is secured by an unlimited interlocking guarantee from CYC (SA) Management Pty Ltd as trustee for the CYC (SA) Unit Trust and CYC Ramp Pty Ltd as trustee for the CYC Ramp Trust. The facility was drawn down to $Nil at 31 May 2012 (2011: $Nil).
Note 18: Contingent Liabilities
(a) Operating Lease CommitmentsNon cancellable operating leases contracted for but not capitalised in
the financial statements:
Payable - minimum lease payments:
•notlaterthan12months 6,300 6,930
•between12monthsand5years 22,575 24,255
•greaterthan5years - -
28,875 31,185
(b) Capital Expenditure CommitmentsNo capital expenditure commitments at 31 May 2012.
Note 17: Capital and Leasing Commitments
2012 2011
$ $
Cruising Yacht Club of South Australia Annual Report for 2011/201237
Notes to the Financial Statementsfor the Year Ending 31 May 2012
Note 19: Hire Purchase Agreement
The Minister of Transport has leased the Port Vincent Basin to the District Council of Yorke Peninsula for a term of 99 years from 1 May 2003. The council has agreed to underlease that portion of the Marina Basic on which the Marina is situated to CYC (SA) Management Pty Ltd for a nominal rent ($1.00 per annum if demanded) for a term of 99 years less one day commencing 1 May 2003. CYC (SA) Management Pty Ltd has underleased the area it is leasing to the Cruising Yacht Club of South Australia Inc. (the “Club”) for the same nominal rent and on the same terms and conditions for a term of 99 years less 2 days commencing 1 May 2003.
The lease is of the land without the infrastructure. The infrastructure has been separately acquired from the developer Paradise Developments (Investments) Pty Ltd. The Club has acquired the infrastructure pursuant to a hire purchase agreement to which each hire instalment was paid when the Club sold a rental licence to occupy a berth to a Club member and CYC (SA) Management Pty Ltd issued units in CYC (SA) Unit Trust to a value, which in aggregate, equalled the hire instalment amount.
CYC Ramp Pty Ltd, as trustee for the CYC Ramp Trust, has leased the Western Marina Basin to CYC (SA) Management Pty Ltd, as trustee for the CYC (SA) Unit Trust, for a term commencing on 1 November 2008 and ending 31 October 2083, at the same rent.
The lease is of the land without the infrastructure. The infrastructure has been separately acquired by the Cruising Yacht Club of SA Inc. from the CYC Ramp Pty Ltd, as trustee from the CYC Ramp Trust. The Club has acquired the infrastructure pursuant to a hire purchase agreement to which each hire instalment is paid when the Club sells a rental licence to occupy a berth to a Club member and CYC (SA) Management Pty Ltd issues units in CYC (SA) Unit Trust.
Note 21: Key Management Personnel Compensation
Note 22: Events after the Balance Sheet Date
(a) The table below summarises in aggregate the remuneration of all senior
management personnel of the Cruising Yacht Club of South Australia Inc.
Salary Superannuation Non-cash contributions benefits
$ $ $
2012 128,134 11,639 1,184
2011 124,191 11,177 832
Note 20: Segment Reporting
The economic entity operates predominately in one business and geographical segment being in the leisure sector providing social facilities to Members of the Club in South Australia.
Note 23: Entity Details
The registered office of both CYC (SA) Management Pty Ltd and CYC Ramp Pty Ltd associated companies is:
Cruising Yacht Club of South Australia Inc.,Lady Gowrie DriveNORTH HAVEN SA 5018
The principal place of business is:Cruising Yacht Club of South Australia Inc.,Lady Gowrie DriveNORTH HAVEN SA 5018
Nil
Cruising Yacht Club of South Australia Annual Report for 2011/2012 38
The Cruising Yacht Club of SA Inc and Controlled Entities
Statement by the Board of Management
In accordance with a resolution of the Board of Management of the Cruising Yacht Club of SA Inc. in the opinion of the Board of Management:
1. The financial statements and notes, as set out on pages 23 to 37, present fairly the economic entity’s financial position as at 31 May 2012 and its
performance for the year ended on that date in accordance with Australian Accounting Standards (including Australian Accounting Interpretations);
and
2 In the Board of Management’s opinion, there are reasonable grounds to believe that the Cruising Yacht Club of SA Inc. will be able to pay its debts as
and when they become due and payable.
This declaration is made in accordance with a resolution of the Board of Management of the Cruising Yacht Club of SA Inc.
PresidentDirector - Cruising Yacht Club of SA Inc. - CYC (SA) Management Pty Ltd - CYC Ramp Pty Ltd
TreasurerDirector - Cruising Yacht Club of SA Inc. - CYC (SA) Management Pty Ltd - CYC Ramp Pty Ltd
Dated this 21st day of July 2012
Cruising Yacht Club of South Australia Annual Report for 2011/201239
2012 2011
$ $
Income
Commission - resold berths 28,723 157,030
Commission - leased berths 53,656 51,326
Entrance Fees 7,548 12,650
Groundswell Income 31,760 24,763
Hire of equipment 8,356 7,500
Hull identification 1,334 2,951
Income- Racing Association 72,680 63,771
Income - Marine Academy 38,526 35,246
Income (net) – Functions 19,489 11,196
Interest 55,791 50,211
Licence fees - Marina West 152,253 145,480
Corporate Fees 883,385 852,545
Net trading margin - catering, bar & resale 69,291 79,128
Ramp Income 118,321 120,392
Slipway 68,287 65,849
Member subscriptions 551,445 544,979
Other income 146,153 22,161
Profit on sale of assets - -
Total Income 2,306,998 2,247,178
Less Expenses
Accounting fees 3,488 503
Advertising 39,715 30,891
Annual report expenses 10,260 8,220
Auditors remuneration
Previous auditor – audit costs 2009/2010 - 691
Previous auditor – tax return costs 2,400 -
Current auditor – audit costs 2010/2011 - 18,500
Current auditor – audit costs 2011/2012 19,050 -
Current auditor – preparation of financial statements 2010/2011 - 8,000
Current auditor – preparation of financial statements 2011/2012 8,240 -
Disbursements and out of pocket expenses 782 331
Bank charges 18,580 19,709
Cleaning 21,314 13,837
Computer expenses 42,333 37,891
Consulting and professional fees 20,072 109,744
Detailed Profit and Loss Accountfor the Year Ended 31 May 2012
...continued over page
Cruising Yacht Club of South Australia Annual Report for 2011/2012 40
Detailed Profit and Loss Accountfor the Year Ended 31 May 2012
2012 2011
$ $
Less Expenses (continued)
Depreciation 599,807 581,844
Fees and Permits 9,961 12,231
Finance costs - external 38 65
General expenses 13,681 14,978
Groundswell expenses 29,013 28,693
Ice expenses 1,993 1,259
Insurance 79,239 79,585
Internet 3,365 4,235
Impairment expense 12,230 (23,292)
Landscape maintenance 7,677 14,721
Lease rentals on operating lease 12,815 13,831
Loss on sale of fixed assets - -
Long service leave (9,030) 14,317
Marina - repairs and maintenance 158,536 161,826
Marine Academy expenses 30,195 24,613
Member proposals 12,500 20,068
Meeting expenses - -
Motor vehicle expenses 13,357 10,804
Other association expenses (net) 3,122 (5,261)
Payroll tax 27,714 17,098
Port Vincent general expenses 4,955 4,623
Postage 17,867 13,389
Power and light 81,449 69,391
Printing and stationary 19,030 32,040
Rates and taxes 95,074 114,839
Racing Association expenses 63,060 70,649
Repairs and maintenance 123,050 86,046
Salaries 642,873 566,552
Security costs 32,987 52,959
Staff training 2,073 1,629
Subscriptions 26,395 32,253
Superannuation contributions 91,063 83,542
Telephone and fax 20,627 21,135
Toiletries 47 3,358
Uniforms 12,023 8,391
Waste disposal 15,100 16,422
Workcover expense 28,861 29,039
Total Expenses 2,463,437 2,426,188
Operating Surplus/(Deficit) (161,995) (179,010)
Cruising Yacht Club of South Australia Annual Report for 2011/201241
CYCSA Vessel Register
Name of Vessel Reg. No. Owner(s) Berth No.
Academy 1 YC586S Cruising Yacht Club of SA
Acclaim BR257S Robert Dawes A20
Achtung Baby CI214S Don Venn J18
Acrux YC314S Steven Tonkin HS49
Adagio SA910S Stephen Siebert B22
Adamas YC216S Chris Newton
Adelaide Diving Steve Slack C31
Adinda YC276S Stephen Pearson C08
Adrenalin EE178S Adriano Cisternino HS109
Adria YC931S Claude & Val Marchesi A24
After Dark UI115S Hans Fischer A45
Aimless ZI153S Gordon Inglis A40
Akt III YC644S Jack Didyk
Alby 1 UI126S Albino Miotto C07
Alchemy Anthony Palmer
Ali Tap Tap CZ154S John McFarlane
Alicante Encore MJ65S Frank Wood VA02
Allegro Mal Kamenjarin
Allemanda SA270S Bill Harniman B33
Alliance YC394S Laurie Hallion, James Hallion, Bevan Thompson, Linda Hart D20
Alpha Centauri YC258S Roger Flint D11
Alternative Therapy YC804S Michael Lane HS86
Amazing Grace YC126 John & Janet Den Dryver C35
Amazing Grace AUS4457 Angus Middleton HS14
Andante Geoff Gowing & Tess McGrath B04
Andiamo YC208S Peter Fairbrother D29
Anescape BS228S Ross King J10
Angus 100 ABY892N Andrew Figtree
Anna-Bella YM07S Renzo Bonini HS15
Annadora III ER186S Lester Cornall A37
Another Planet YC521S Brenton & Tracey Pegler, & Alan Hambly C17
Anouk SI168S Ashley O’Brien A05
Antipodes ZG132S John Culshaw J03
Apache Jeff Elsegood
Aquila YC241S Mark Johns A17/A18
Arabella YC678S Hans Hol C06
Arcadia Bay RZ91S Kevin McCann
Argo III HE40S Trevor Kipling HS82
Aries YC341S David Coats
Armed And Dangerous Peter Freeman HS30
CYCSA Vessel Register
Cruising Yacht Club of South Australia Annual Report for 2011/2012 42
Name of Vessel Reg. No. Owner(s)
Arra Warra II YC527S Warwick Lumbers
Arriba ZY110S Alan Noble K09
A-Salt Weapon AY 234S Wright Danz Family Trust HS145
Asylum YC10 Derek Morrison C15
Atomic YV111S Mark Podlewski F33
Avilion III VW195S Darren Slaby
B Free Romeo Macolino
Back Friday YC317S Chris Wood E09
Backward Glance HV161S Bill Coutts HS123
Bad Company QY54S Bob Westlake
Balamara SA155S Marjorie Smoker B08
Baloo RF160S John & Margaret Grevins A03
Banjo YC71S Wil Maybury
Baron YC345S Gilbert Calaby
Bedouin YC691S Greg Patten B29
Bella Mia II YC688S Dominic Rinaldi A28
Beluga YC561S Graham Phillips E19
Benedetto YC405S Clive Lee
Benetta 2775QF Vincent Barry C39
Bethany WY182S Barry & Libby Clough HS42
Bewinched Michael Davey
Billbuster YC116S Martin Cross
Binburra DY1635 Lindsay Stanley VC66
Black Cat DX460 Aaron & Kirsty Low HS71
Black Swan EC166S Trevor Raines E33
Blu-By-U YC909S Albert Vos
Blue Horizon YC980S John Harry
Bluewater Humphrey George
BoBo Tamara Saunders
Bogebada YC451S John Bolt J06
Bolero SA995S Ian Neville A12
Bonny June WP152S Neville Wills
Born to Battle Peter Teakle
Boston Whaler Ben Wilson
Bourse 2 ZT170S David Paterson
Brief Encounter Gary Brown D38
Brigadoon YC445S Geoff & Louise Wiggins D03
Buddy Bouy YC508S Adam Laube A42
Bullistic YC1200 Tony Hansen, Paul Martin & Richard Royans C30
Bunburra DY163S Lindsay Stanley
Cruising Yacht Club of South Australia Annual Report for 2011/201243
CYCSA Vessel Register
Name of Vessel Reg. No. Owner(s)
Ca Va! VT115S Dominic Crosby F06
Cabaret SA99S Alan Cotton B06
Caleb PY109S Samuel Matthews HS51
Capricorn AU202S Rod Herbert
Capricornia Rob Keith
Carbon Footprint YF139S James Edwards
Carioca YC762S Craig & Beth Hutton F19
Carpe Diem ZQ108S Vadis & Julie Rodato F09
Carrapateena Joy YC818S Rudi Gomez, Darren Hoppe
Catalyst VV173S Keith & Susan Langley
C-Charmer GA169S Charlie Tomeo A43/A44
Celebrity UC193S Richard Pope B24
Champ YC545S Tom Tymons C32
Champagne YC77S Jim & Lynn Keogh
Chardonnay SA73S Andrew & Patricia Alexander C19
Charlie Brown KX120S Henry Brown
Charlie’s Dream VL060Q Peter Lewis
Chikara Robert Cole
Chill’n WL133S Neil Stennett
Clallapor John Adams
Claytons Y0177S Clayton Peake
Committed BS126S Tim Hearse
Compass Rose CG191S Ian Short
Compulsion JM88S John Gibson
Content ZM169S Craig McCarthy D28
Cookie Monster Brian Walsh HS08
Coroona YC265S Slavko Radisic
Counting Stars YC843S Graeme & Carolyn Wilson C25
Crackerjack QK109S Peter & Pat Thompson C01
Cuddy Cab RX1485 Daren Ellis
CYC1 YC206S Cruising Yacht Club of SA
CYC2 YC02S Cruising Yacht Club of SA
CYC3 YC03 Cruising Yacht Club of SA HS78
Cygnet YC28S Mark Flanagan
Cygnus II ZH122S Owen & Delia Mace C28
Damp Fantasy Len Easther
Day Star YC118S Charlie Paterson F31
Days Like This XF115S Maxine Timbs
Decanter OF169S Breck Waterman
Delilah ZH133S Wayne Briancourt
Cruising Yacht Club of South Australia Annual Report for 2011/2012 44
CYCSA Vessel Register
Name of Vessel Reg. No. Owner(s)
Delphis YC280S Mark Robertson
Demalone Malcom Dunn
Distraction XB192S Richard Channon D34
Dixie Mirage BD287S Lincoln Wood HS60
Double Cross YC520S John Nicholls
Doyen YC660S Malcolm Kitto B21
Dr Feelgood YC550S Wayne Coonan HS107
Driftwood YC446S Ray Tonglee F01
Dynasty 6944 Colin Burgin
East Of The Lizard QL152S James Cameron VB28
Eclipse TS04 Brenton Caffin
Eclipse NZ749 Bill Lunn D13
Edie GA952 Peter Kikianis
Elandra II YC296S Daryl Coad HS138
Elation SP105S Robert Becker HS149
Electra YC62S Malcolm Pearsons HS103
Electra II BL261S James & Tim Sarah B34
Elisa Jane XD155S Ian Naismith M04
Elysium YC528S Jim Heyen
Emma V0163S Charles Young
Emma Grace TBA Geoff Atkinson
Enigma YC410S Eddy Sain
Enterprise SA758S David Binks
Equanimity YC344S Len & Libby Stephens F29
Erkonda HV123S Eric Webb
Erzanmine BD280S Mark & Bel Harper HS21
Exile III YC46S Nick George B20
Exit YC67S Mark McCutcheon HS40
Far Star YC162S Royce & Delene Nicholls D26
Flamingo KW108S David Evans F21
Flying Circus Stephen Power HS70
Flying Cloud QLDSF162Q Reid & Holly Toogood
Flying Duchess OL641Q Guy Ludbrook M03
Foolish Behaviour QB165S Guy Wogan-Provo
Force Majeure YC320S Don & Judy Guy
Foxtrot IEU5053 Dan O’Connell
Foxy YC240S Derek Morrison HS38
FPV Ganet PIRSA Fishwatch
Free Spirit LP155S Geoff Sincock
Freedom YC123S Trevor Collinson B19
Cruising Yacht Club of South Australia Annual Report for 2011/201245
CYCSA Vessel Register
Name of Vessel Reg. No. Owner(s)
Freedom Blue YC100S Pat Conroy F22
Freelance YC573S Dean Stevens
French Bred YC470S Peter French F36
Freo Buoy YC255S Terry Lockwood HS143
Fresh Eyre QW137S Brian Marsh HS64
From Russia With Love B3007 Richard Lea A30
G Wizz YC690S Greg Patten B11
Galatea PA292S Alan Husdelll F26
Game Dancer GF11S Ray Brown E17
Game Over YC245S Julian Newton HS84
Gas Bag SM34S Bronte Allen
Genovus YC421S Peter Newmarch B32
Geordie Bay YC107S Rowland & Glenyss Richardson F28
George Lisk II LB02S Largs Bay Sailing Club HS134
Gerry-K II AT216S Chris & Geraldine Cox B18
Ghost BJ208S Alex Zimmerman
Gibbos Retreat YC760S David Gibbons
Gin Rummy ON852424 Ian McBeath
Gladiator YC855S Jim & Glenda Smyth K03
Glenn Robert BY271S John Whelan F30
Good Company JJ24N Robin Townsend HS35
Good Vibrations YC203S Barrie Willoughby D35
Graddy-White ST156S David McMahon
Group Therapy JI178S Rick & Glenda Hausler E32
Gypsy Æ YC406S Geoff Blackwell F15
Gypsy Flyer YC808S Geoff Harris
Hadd ‘E’ Nuff ZD137S Alby Clark J02
Hakuna Matata Clive Butler
Halcyon ZB1168 David McDonough B17
Hang Loose YC339S Des Maslen
Hannah Georgia MS120S Frank Agostino
Harbinger YC232S David Southwell HS121
Harmony YC945S John Pannell HS112
Harvest Moon TBA Kim Byars B15
Hawk TC580S Joe Walker
Hay Wire GR240S Ken Schilling HS16
Hey Jude Don Guy
Hold On! YC380S Peter Page J07
Hot Chilli Y0161S Ric Gros HS146
Hot Mustard FA83S Marty & Jacq Heffernan C13
Cruising Yacht Club of South Australia Annual Report for 2011/2012 46
CYCSA Vessel Register
Name of Vessel Reg. No. Owner(s)
Idle Time 827777 Ron Stennett
Ikati YC744S Peter Headlam F11
Imago QX471Q Craig & Pauline Rooney C42
IMPI WJ171S Grant Winn A04
Impulse YC27S Peter Sawczuk A11
Impulsive EV106S Ray Dowd HS29
Intimidator SB2310 Brian Baldwin C22
Intrigue YC593S Geoff & Sylvia Common
Isis SA63S Jonathan Harry D22
Isis Blue YC888S Tim Marsh F24
Islander GF08S Graham Cotton
Isobar GF385S Norfried Tischendorf C40
Its All G Paul Mills D36
Jadashaye YC996S Russell Bianco
Jag YC337S West Wins Boat Syndicate - James Leahy F10
Jai Cee GF101S John Werner
Jenny Anna Russel Phillipson
Jenny Maree YC235S Howard Murton
Jigsaw NW198S John Daniels C12
Jocelyn FW600Q Mark Venable VC51
Julia YC326S Richard Harries D16
Jumbuk VM189S Mark Mussared
Jumpin Jack Flash YC238S Doug Watson HS25
Jupiter YC294S Kevin Hill
Karma RL485S Craig Westlake
Kashmir YC304S Gregory Yeomans
Kassan UU101S Carol Drummond & Michael Johnson D19
Katerina DN686Q Joe Cirillo
Keep’n Kool RZ120S Bob Turco
Kena YC357S Nick Perdelis C24
Kettwig SA747S Klaus Becker
Kiama NL94S John Marshall B05
Kinetic Energy YC360S Andy Shipp & Les Smith E28
King Rat YC631S Dave Bainbridge HS04
Kiwa SA210S Lloyd Sugars D30
Knot Too Shabby AT286S Bernie Kasza A31
Kudos YC393S Vlad & Pam Humeniuk D14
Kudu YC351S Robert Cole
La Ragazza NE782S John Heinrich
La Vie YC286S Don Burrow E02
Lady B Eddie Biggs
Lady Christine DZ132S Simon Giessauf
Lady J KW148S Sir Eric Neal AC CVO & Lady Neal AM N03
Lady Lorraine Ken Andrews HS125
Lady M AV2465 Kim Charlton C03
Lamb Chop Charlie Nott
Largs #2, Largs #3, & Largs #4 Largs Bay Sailing Club HS135
Largs Bay VO188S David Urry
Lark 2 YC78 Robert Jones
Le Poisson AUS116 Tim Cowen
Lemonade WC111S Clive Ragless
Liberator Australis YC717S Geoff Catt D25
Cruising Yacht Club of South Australia Annual Report for 2011/201247
CYCSA Vessel Register
Name of Vessel Reg. No. Owner(s)
Liberty YC290S Robin Wood D40
Liquid Assets YC555S Graham Meyers D24
Liquid Limo BB269S Robert & Natalie Turco C27
Lisi SB4935 Bruce Whittem
Lizzie Too KQ138S Peter Lehman VA03
Locomotion YC295S Peter Hall A23
Lucky Star YC105S Brett Yardley, Rod Wenham, Peter Hendy A27
Lutzy DN249S Anthony Cullen
Lymnea AA37S Gareth Thomas
Madtack XF122S Mark Emmett HS53
Magnum YC537S Jim Heyen F35
Maid Of Wood LQ187S Alan Moss HS46
Majessnik SW1165 Russell Bianco B16
Mania GZ130S Eugene Maroulis
Marcella PY107S John Gill D01
Marina Tide AY155S George Smith VA09
Marnico YC61S Graeme & Gay Footer B12
Martine J425 Robert Jones
Matador YC121S Mike & Morag Draper A10
Matilda Bay II YC403S Terry Nicholas
Maximus SA607S Frank Bamford
Medosa VY111S - 1509216 Brian Smith F37/F38
Merlin Simon Gerard B03
Metapassion PN137S George Rutar C38
Midlife DH240S Susan Coomber K05
Midnight Blue YC168S Leon Cowley A34
Milonge AA295S Ivan Lebedev HS56
Minnon YC3600 Joe Mezzini E29
Minouche YC126S Alan Warnes A16
Minuet IN172S Peter Littledike
Miros YC08S Michael Sigston
Miss Lou ST146S Tony & Mary Norman
Mistral O635Y Noelene Westlake
Moonlight Lady II YC900S Simon Jenkins A39
Moonlight Sonata TS05S John Swift HS79
Moonwind HN85S Dean Adams HS96
Morning Mischief II JI133S Richard Cavill B10
Mr Moustache 854965 Mark Jenkinson
Mult-E-Biz VL185S Theo & Heather Agelis
Murray Pest KH140S Peter Scott
Cruising Yacht Club of South Australia Annual Report for 2011/2012 48
CYCSA Vessel Register
Name of Vessel Reg. No. Owner(s)
Mustang Sally AZ207S Bob & Noelene Westlake
My Way Michael Elliott VA13
Namche VN156S Dave Henderson D08
Narissa QG100S Philip Rundle A26
Naughty Black Shorts CB22 Caroline Cowen
Nautical Dog VK134S Robin Chase
Nefertiti YC513S Peter Thomson C33
Nellie Myra YC106S Trevor Mudge & Jane Ferguson J09
Nellie Rose ZM173S Doug LeFeuvre VC61
Nightwatch 1918 RF180S Allan Homes F23
Nikki Dee II Eddie Dubsky
Nissap PS730 TBA Adrian Wait
No Eye Deer Trevor Conyers HS07
Noah RF195S Mark Lunn
Obsession Con Koulouris M07
Obsession David Pilling
Ocean Sunrise C/- David Nelson, Pembroke School HS124
Odette QE104S Steve Lewis
Off Spring UJ169S Andrew Young
Oh Really! GR24S Mike O’Reilly
Oki PH104S Phil & Sandra Richards E23
Old Nick S213 Craig Thomas
Omega 1536047 Dominic Rinaldi
One Song RB060Q Bob Barreau
Ontos Steve Nogare
Ophelia IV YC164S Robert Gerard
Options YC103S Edi Mignone E01
Osprey BA105S Laurie Steele HS74
Osprey KP195S Joe Walker
Outrageous AT17S Phil Newton C10
Outrageous Fortune John Wood Jnr
Outrage-Us AUS815 Gary Shanks
Outside Chance DV114S Chris Butcher D23
Overdraught II YC06S Tony Matthews E25
Pago V ID119S Kerry Mangos
Pandora II 355918 / KR369N Graeme Critchley
Paradox SA605S Adam Kretschmer C04
Parfidia YC844S Richard Ockenden
Patience Trevor Burns VA21
Patrice IV YC271S Garry Tucker C18
Cruising Yacht Club of South Australia Annual Report for 2011/201249
Name of Vessel Reg. No. Owner(s)
CYCSA Vessel Register
Peggy Sue NV136S Michael O’Reilly A02
Pepa KZ77S Peter Japp
Phantom EV159S Ken Amos, Judith Yarwood B26
Pineapple Poll WU117S Peter Went D31
Platypus Tom Crabb F02
Playmate ME46S Neil Toseland HS85
Playstation YC503S Keith Degenhardt B27
Plunder John Spalvins
Poppy KR912N Michael Phillips B25
Portia YC230S David Murray C21
Portofino TBA Tim Vreeker E12
Praha II YC415S John Rynes F08
Prime Time YC23S Rod Rebbeck
Prisana II DQ149S Jeff Elsegood
Prowler QL149S Robert Lefort E30/E31
Public Enemy 5842 Steven Marshall HS41
PV Southern Ranger PIRSA Fishwatch L06
Qi Ki Rick Jackson M01
Quartet SA452S Andrew Pow A25
Questa E’la Vita IO124S Karl Strazdins E10
Quo Vadis PC119S Ian Collins A22
R U 4 Reel YC443S John & Jenny Wilson
Rafantell YC281S Mark Lethbridge
Rag Doll 2 ZR1455 Sergio Bordignon
Rapid 1 YC477 Keith Finch A48
Rayanna YC468S Ray Baddeley
Reflections BA836 Stephen Turner HS83
Refresh YC575S Barry Paterson A38/HS76
Regent Sea (TAFE SA) AQ149S David Royle HS104
Riot III YC31S Antony Simpson
Riptide IS36S Greg Otto F03
Rockholme AP119S Brooke McLeay
Rozanna CY109S Yaroslav Bojko
S CAPE YC134S Craig & Louise Bates D09
Sachan YC442S Kevin Mann D15
Sagittaire YC435S Clifton Collard C20
Sandcastle YC305S Mark Hentschke D17
Sans Souci XE136S Jason Squire
Santana YC316S David Partington F05
Sapphire YC183S Daniel Hains
Cruising Yacht Club of South Australia Annual Report for 2011/2012 50
Name of Vessel Reg. No. Owner(s)
CYCSA Vessel Register
Sapphire Martin Sutton
Sara II YC24S Craig Westlake F32
Sari YC510S Tom Crabb
Sasha YC173S Robert & Ute Elliott D04
Scallywag YC84S Tom McDougall F16
Scarlett S PL483Q Paul Goodman
School’s Out YC757S Adrian Wotton M05
Scooter Too YI153S David Simons J12
Scorpio YC271S Garry Tucker
Scotch Mist AC131S Andrew Van Arend VA01
Sculptor PX149S Michael Keough C14
Sea Dragon HW168S John Holland F27
Sea Dream YI131S Peter John VC50
Sea Eagle TZ36S Michael Carson, John Carson A49
Sea La Vie YC114S Ernst Vreugdenburg E14
Sea Lark RL46S Michael Wilde
Sea Scout Mal Kamenjarin
Sea Vixen QX198S Alistair Cavill HS92
Secret Mens Business 3.5 YC3300 Geoff Boettcher B13
Seduction YC338S Mark Williams, Marilyn Kopp D18
Selkie YC386S Chris & Rosalie Morphett D05
Sequana NZ192S Malcolm Ramsay
Serenade YC445 Greg Jaunay
Serendipity EN146S Travis Richter
Serene BP13S Ray McPherson C02
Serenity YC540S Peter & Barbara Page B07
Setanta YC18S Gerard Hughes E13
Shilo PL10S John Knispel A07
Shining Sea YI142S Andrew Corletto E04
Shiraz John Klunder C16
Shiraz YC99S Christopher Russell
Shooting the Breeze YC190S Rob Harrison F34
Short Circuit VG171S Peter Jordan
Shuna Peter Thomson
Silver Cloud YC388S Steve Standen E16
Silver Dolphin YC700S George Bobaly A06
Sir Les VU163S Ian Patterson D06
Sirocco YC825S Henry Garner C05
Smack-L-Bee IV GN162S Paul Crawford
Smurfette SK196S Michael Clark
Cruising Yacht Club of South Australia Annual Report for 2011/201251
Name of Vessel Reg. No. Owner(s)
CYCSA Vessel Register
Snagol AEG828N George Wilson E21
Sojourn ZK125S Sam Tolley C42
Solarno PZ76S David Catherwood
Sole Trader LQ142S Ross Almond
Solitaire YC248S Graham Norman, Dennis Buchan A33
Sooner Or Later IF31S Guy Bayly C37
Southern Conway YC401S Stuart Henry
Spartacus YC38S Peter Trembath
Spectrum UW42S Thomas Abbott HS87
Spirit of Lexus Michael Keough
Splendido C26 Peter King C26
Splice X0149S Mal Kamenjarin
Steeletto VK128S Peter Middleton A21
Stephanie YC752S Roy Wells
Stockcar RU188S Dave Hughes HS45
Stormy Waters Michael Davey
Stunned Mullet SA323S Stuart Kilner
Such Is Life TT189S Dave Nicolson HS95
Sugar ‘n’ Spice YC601S Robert Perrin E18
Summer Breeze YC129S Kevin Cook
Suzanne YC90S Don Howell C34
Synergy Jamie Goode
Synergy YC161S Mal Hutton B14
Syrah Peter Sadler F18
Tangaroa SA284S Jim Raptis B28
Tanshee UV80S John Simmons
Tarni Warra Ian Shaw VD84
That’s Life YC447S Greg & Judy Manuel B30
The Business’ YC56S Chris Hansen D12
The Gap TG192S David Donovan HS91
The Ghost Of Xmas Past YC192S David Ketteridge, Michael Ketteridge HS02
The Gnome Michael Keough
The Gun II Len McIntyre
The Reel Thing QM191S Wayne Palmer D39
The Tardis SA838S Helen Prisk
The Tern YC789S David Flockhart A36
Third Time Lucky SS156S Andrew McMahon
Thresher GF111S George Flourentzou OAM K15
Tiarnie YC355S David Everett A29
Time WV107S David Allott E22
Time - Out DL241 Peter Holdt E20
Tirriki SA40S Mark Charlesworth B09
Top Deck YC244S Thomas Muecke
Top End SA85S Rob Clampett B23
Touche YC710S Bob Catley HS99
Trinacria YC149S Rod Hunter D27
Triple 888 Eight Gordon Pickard, Stephen Norris L01
Triple H SG176S Henry Petersen HS69
Trophy Jason Deckers A46
Trophy CF279S Stephen Madaras A35
True Blew HK591Q2 Patrick Conroy F04
Twelfth Night YC32S Peter Lucas D33
Twilight YC287S Colin Burgin
Two True YC402S Andrew Saies D02
Ubique Garry Golding
Vagabond YC461S Hillar Puvi C41
Vagabondo Graeme Bignell
Vagrant NT19S Richard Smart B36
Vasa YC11S Peter Zemitis
Veloce ON853394 / KP329Q Steve Perkins
Venture Grant Nykiel
Viva MD195S Andrew Carney
War & Peace SA305S Ecio Marcel, Stefan Marcel F17
Warrior YC88S Gary Bunn HS23
Water Rat ZR73S Wally Rantanen
Waters Edge YC723S Graham & Julie Patterson A19
Waterwitch III YC117S Patricia & Fred Fuller F25
Wayfarer I Russell Spier
Wedge Tail QS185S Cliff Presly F20
Weemac IY125S Walter McDonald HS19
White Mischief PS 19 Ken Ramsbottom
Whittley Sea Legend UO193S Wayne Trott HS142
Wild Honey SM33S David O’Leary
Wind Torque VI23S Gordon Penner
Woftam UY23S Paul Phillips
Yarramara YC263C Bruce McFarlane
Yorke VR39S Robert Sprod
Young Einstein YC880S Rob Moore, Rob Sellick, Peter Smith HS32
Cruising Yacht Club of South Australia Annual Report for 2011/2012 52
Name of Vessel Reg. No. Owner(s)
CYCSA Vessel Register
The CYCSA thanks its major sponsors for their support during 2011/2012:Racing Fishing CruisingPhil Hoffmann Travel Custom Cartons Charlesworth NutsPort River Marine Cummins Yalumba R Marine South AustraliaPenfolds Maritimo AdelaideMUSTOCanegrass Saltbush LambSportsmed.SAEverettBrookes Custom Jewellery Vislex The Stag Hotel Doyle Sailmakers
ClubCorpor8 It Solutions
Club Sponsors
Life 5Honorary 11Foundation 24Senior 517pt Vincent Senior 46Member 159Racing 255Associate/Family 66Intermediate 5Junior 41Total 1134
Membershipas at 31.05.2012
Front cover photo courtesy of Greg pratt
Back cover photo courtesy of Jacq Heffernen
Inside front and back cover photo courtesy of Craig evans
Text pages photos from Club members’ contributions, including professional photographers Greg pratt, Brenton pegler, Glenn Hawke, Gerry Colella and Sarah Lawrie.
Graphic design by Trevor paynter
printed by Reflex printing
Cover image:
Bullistic (Tony Hansen, paul Martin and Richard Royans)
C R U I S I N G Y A C H T C L U B O F S O U T H A U S T R A L I A
2 0 1 1 – 2 0 1 2
A N N U A L R e p O R T
Cruising Yacht Club of South Australia Inc.
Lady Gowrie Drive
North Haven
South Australia
pO Box 1020
North Haven SA 5018
Telephone: 08 8248 4222
Facsimile: 08 8248 5888
email: reception@cycsa.com.au
Web: www.cycsa.com.au
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