cycsa annual report 2011-12

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: [email protected]

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


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


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.


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


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


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


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


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


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


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


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)


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


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


Association Reports


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


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.


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


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)


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



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


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.


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



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)


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


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

[email protected] 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


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.


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



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



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



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



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.


(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.




(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.



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



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



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


Total leased plant and equipment - -

Plant and Equipment at valuation and subsequent cost 926,962 896,827


Total plant and equipment 508,009 599,774

Office Equipment at valuation and subsequent cost 105,128 98,053


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


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.



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



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



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

$ $



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


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


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


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)


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



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




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




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




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




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




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




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




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




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




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




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: [email protected]

Web: www.cycsa.com.au

cycsa annual report 2011-12

Documents

cruising association

racing association report

fishing association

treasurers report

commodores report

presidents report

audit committee report

facilities committee