ANNUAL RepORT - Cruising Yacht Club of South Australia

Transcription

CRUISING YACHT CLUB OF SOUTH AUSTRALIA
Cruising Yacht Club
of South Australia
annual r e p ort
06.07
Membership
as at 31.05.07
Foundation
Senior
Pt Vincent Senior
Member
Racing
Associate
Junior
Intermediate
Total
41
509
44
248
257
15
12
11
1137
Contents
Cruising Yacht Club
of South Australia
Administration
2
Board Committees
2
Club Committees
2
Club Association Committees
2
Life Members
2
Board of Management
3
Flag Officers
3
President’s Report
4
Treasurer’s Report
6
Commodore’s Report
8
Audit Committee Report
9
Marina East Replacement Committee Report
10
Marina Maintenance Committee Report
10
Marina West Development Committee Report
11
Marine Academy of Australia Committee Report
12
Groundswell Editorial Committee Report
13
Cruising Association Report
14
Fishing Association Report
16
Racing Association Report
18
Social Activities Association Report
20
Club Structure
21
CYC (SA) Unit Trust and Associated Entities Financial Report
22
CYCSA Vessel Register
41
1
Cruising Yacht Club of South Australia Annual Report for 2006/2007
Administration
Committees
General Manager
Assistant Manager
Administration Manager
Finance Manager
Administration
Receptionist
Racing Manager
Operations Manager
Gardener
Maintenance
Head Chef
Food and Beverage Manager
Functions Manager
Pt Vincent Marina Manager
Marine Academy Cooordinator
BOARD COMMITTEES
Craig Evans
Rosemary Gould
(to December 2006)
Jenny Krogdahl
Zoya Gretchkosiy
Sue Rowlands
Laura Turner
Matthew Gryst
Tim Went
Robert Gray
Stefan Petrov
Warren Hannaford
Adrian Plunkett
Michelle Matte
Rob Marner
Brett Yardley
Chair
Andrew Corletto (Board Member)
Jenni Paynter (Treasurer)
Henry Petersen (Senior/Board Member)
Constitution Review Committee
Chair
Andrew Corletto (Board Member)
Wayne Coonan (Senior Member)
Richard Fidock (Senior Member)
Craig Evans (General Manager)
Marina East Replacement Committee
Chair
Tim Marsh (Board Member) - to December 2006
Jack Nealy (Senior Member)
Marina West Development Committee
Club Associations
Cruising Association Committee
Chair
Audit Committee
Chris Morphett
Sylvia Common, Terry Denham, Trevor Kipling, Claude Marchesi, David Murray, Kym Weeding
Chair
Geoff Catt (President)
Peter Page (Commodore) - to July 2007
Jenni Paynter (Treasurer)
Graeme Footer (Senior Member)
Phil Tregenza (Senior Member) - to July 2007
Ken Amos (Senior Member) - from July 2007
Fishing Association Committee
Marine Academy of Australia Committee
Chair
Chair
Ray Brown
Peter Bourne, Mark Flanagan, Geoff Gowing,
Ian Guest, Jim Smyth, Tom Tymons, Joe Walker, Roy Wells, John Werner
Racing Association Committee
Chair
Wayne Coonan/Greg Patten
Traci Ayris, Ray Evans, Robin Freeth, Silas Nolan, Richard Parkes, Peter Sheridan, Alyn Stevenson,
Andy Shipp
Social Activities Association Committee
Chair
Larri Maron
Mavis Catt, Jacqui Heffernan, Pam Humeniuk, Inese Lainis, Delia Mace, Cheryl Maybury, Kay McBryde, Sandra Richards, Jackie Robinson, Kay Tidswell
Membership Committee
Members Kerry Lampard, Brian Mellors
Strategic Planning Committee
Members Geoff Catt, John Gerard, Jenni Paynter, Craig Evans
CLUB COMMITTEES
Life Members
Groundswell Editorial Committee
Members Craig Evans, Gay Footer, Bill Lunn, Kay McBryde,
Jenny Krogdahl
Arthur F Carolan
Malcolm A Kinnaird AO
Richard H Fidock AO
Graeme L Footer
James A Henry (deceased)
Andrew Saies (Board Member)
Jenni Paynter (Board Member) - from June 2007
John Bates (Board Member) - to June 2007
Sylvia Common (Racing Member)
Rod Hunter (Senior Member)
Chris Morphett (Senior Member)
Rowland Richardson (Senior Member)
Alyn Stevenson (Senior Member)
David Woods (Vice Commodore) - to June 2007
Brett Yardley (Course Coordinator)
Marina Maintenance Committee
Members David Evans, Jack Nealy, Tim Marsh, Tim Went
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Board of Management
Geoff Catt
President
Jenni Paynter
Treasurer
John Bates
Andrew Corletto
John Gerard
Tim Marsh
(to 14 December 2006)
Henry Petersen
(from 14 December 2006)
Andrew Saies
General
Manager
Flag Officers
Craig Evans
General Manager
Peter Page
Commodore
David Woods
Vice Commodore
(to 7 June 2007)
3
Ray Brown
Rear Commodore
(to 21 May 2007)
President’s Report
In my second year as President it has been my pleasure to get
to know more members and to gain a deeper understanding of
the heart and soul of the CYCSA – in other words, what makes
the Club tick! This has also reaffirmed my belief that the unique
structure of the Club as devised by the foundation members over
35 years ago is a very sound and robust one – it requires very little
change to ensure relevance in the years ahead.
The Board, aside from acting as the body to whom our General
Manager is responsible for the day to day operations of the Club,
also has a responsibility for long term planning. In last year’s
report I outlined a number of projects which the Board was
undertaking and I would like to bring you up to date on these.
Firstly, flowing from the planning day in late 2005, the Board is
now finalising a Master Plan designed to outline its vision for the
medium and long term development of the Club and to assist
future boards and management in their decision-making process.
The plan covers facilities, membership, finance and governance
and a member version “Charting our Course” will be produced
and distributed very shortly. Externally, the Le Fevre Peninsula is
growing rapidly with new industries, infrastructure and population
and the State Government is currently preparing a master plan for
the area – it is important that we continue to monitor this closely
as well.
Secondly, considerable progress has been made with our marina
facilities. Although Marina West is about 12 months behind
schedule, we have very recently been given some good news. As
you would be aware, a small group of local residents appealed
against the Council’s approval of the project on a number of
grounds. Members should know that exhaustive investigations
were carried out by the Club and that during the hearing in the
ERD Court, we did not fail in any area of the appeal. Development
approval has been confirmed and detailed design, construction,
marketing and sales plans are now swinging into action. Demand
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for larger berths has continued to grow and we hope that
completion of this wonderful asset will now be achieved in mid
to late 2008. Further details are available in the Marina West
Committee Report.
Meantime, the first stage of the replacement of the floating
facilities in Marina East was completed on time and on budget
when the new access gangway was installed. Further works are
scheduled for 2008 as outlined in the Marina East Replacement
Committee Report elsewhere.
In Port Vincent, the new finger servicing larger berths has been
completed and, although sales have been slower than expected,
we anticipate that the influx of larger vessels into Marina West
over time will assist with the sales of E finger at Port Vincent. The
Port Vincent marina is a unique facility which can only increase in
usage and value over time. We are aware however of the need
to provide services to local members to ensure that they do feel a
part of the CYCSA.
The third major project I foreshadowed last year was the
continued development of the Marine Academy. This has gone
ahead strongly and there is a more detailed report elsewhere. I
would urge you all to take a look at the website and particularly
the program of courses to be run. I believe that under the
stewardship of Board Member Andrew Saies, the committee of
volunteers and Coordinator Brett Yardley, the Marine Academy
can provide a real service to members and also encourage new
members into the Club.
The final project is perhaps more mundane but nonetheless
important. I am pleased to report that the review of the Club’s
Constitution is almost complete and that we are on track to
present it to a General Meeting in 2008 for discussion and
ratification. Thanks must go to Board Member Andrew Corletto
and his committee for guiding this important project to date.
In addition to these projects, the Board and Management have
attended to all of the day to day issues involved in running a club
such as ours. Whilst it is vital to plan for the future it is also vital
not to lose sight of the real reason why the Club exists – to quote
inter alia from the Constitution “to encourage and promote the
sports of yachting, fishing, …boating…, and ….cruising” and “to
provide and maintain a Club House and mooring facilities …. for
the use of members”.
To this end I would like to acknowledge and thank our staff
for their great efforts during the past 12 months. There have
been a number of significant personnel changes and some
significant challenges. New systems have been introduced, new
functions have been tried and staff have stepped up to new roles.
Throughout all of this, high standards have been aspired to and
in the main, achieved. In our General Manager Craig Evans we
have a dedicated and now experienced executive who, with a very
good team that works exceptionally well together, is capable of
serving our members well.
Having said that, may I thank my fellow Board members for their
expertise and support, especially to Tim Marsh and John Bates
who have now stepped down from the Board – their considered
advice at meetings was always invaluable. But an extra special
thank you is due to Treasurer Jenni Paynter, whose efforts once
again this year have been above and beyond the call of duty.
Jenni is also stepping down this year but has already volunteered
to remain on the Audit Committee and also to serve on the
committee of the Marine Academy.
Finally, for our Commodore Peter Page, this has been a busy and
challenging year and he has been equal to the task in every way.
His committment, support and guidance have been of the highest
order. It’s been a pleasure to work with you all.
Geoff Catt, President
I believe that as we move into 2008 and beyond, our Club is
in good shape. The Board remains balanced, and comprised of
a blend of well qualified individuals with the interests of the
Club at heart. Our staff are skilled and motivated and economic
conditions appear favourable towards our major developments.
On behalf of all members, I would also like to thank the many
who have volunteered their time, expertise, goods, services
or money in helping to run the Club and the Associations or
to maintain the facilities. There are simply too many to name
everyone individually but I do thank them most sincerely.
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Treasurer’s Report
At last year’s AGM, members agreed with the previous practice of
distributing the consolidated accounts of the CYC (SA) Unit Trust
and Associated Entities as the record of the financial position of the
CYCSA. Senior Members have been provided with copies of the
financial statements for each individual entity and copies of the Club
accounts are available for non Senior Members from the Office. My
report is directed towards the consolidated accounts.
Overview
2006/2007 has been another sound financial year for the CYCSA. Our
operating surplus for the year (after depreciation and amortisation) is
$194,307 and the best result for a number of years. Our cash position
has improved and we have been able to fund considerable capital
improvements and other items during the year including part of the
new gangway, new air conditioning, BBQs and Club software, all from
our operations.
This surplus has resulted from the contribution of a loss of $43,758
from the Unit Trust and a surplus of $238,065 from CYC (SA) Inc (the
Club) after it had received a distribution of $84,034 from the Ramp
Trust (Note 13).
Across all entities, operating income increased by 11% above the
increase in operating expenditure. The Club has benefited from
significant upward movement in berth market prices, boosting
commission on sales income to a level well above normal. This was the
major difference between the Club’s forecast and actual results for the
year and it was that income which enabled us to limit our borrowings
for the gangway and purchase our new software ahead of time.
As reported last year we established a separate short-term Bank
facility to fund the initial costs of Marina West’s development using
the assets of CYC Ramp Trust and have used that facility to fund all
development costs to date which, at 31 May 2007, amounted to
$407,971. At that date we had drawn down $385,000 on the facility
(Notes 7, 8 and 18). The majority of the $228,256 expenses during
the last financial year relate to the preparation of the development
application and consultants’ additional reports and legal fees for the
ERD Court hearings.
Income and Expenditure
This is summarised on the last two pages. Overall membership
levels have declined slightly, particularly in the General and Racing
categories, resulting in only a marginal increase in subscription income
for the year. The focus of the Racing Association this year, through
its 50/500 program, will be to restore its membership to previous
levels. We also hope that those people who enjoy the benefits of
the Club through their partner’s membership will join in their own
right, either as a General Member or through the recently introduced
Family category where children in the family can also experience the
opportunities available to members of the CYCSA.
On 30 June 2006, the joint venture, established to investigate the
potential for future development of lots 43 and 223 was dissolved
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resulting in a profit of $19,333 in investment capital brought back
into the books as income (Note 20).
We have been able to maintain a similar net margin to last year in
our bar and catering, now reported as a combined total ‘Hospitality’,
but have recorded a small loss in our resale trading due to the writeoff of some stock. The new Musto gear is proving popular and,
together with the improved and more secure display that has been
introduced, we hope to see a better result next year.
The Associations have continued their strong support of the Club.
The net effect of their activities during the last financial year amounts
to a surplus of $38,153, a vast improvement on the $5,062 net
surplus for 2005-2006 and 20% of our total operating surplus for
2006-2007. The Associations’ ability to secure strong sponsorship to
help finance their activities and reduce costs to members, and their
willingness to develop programs in direct response to their members
assist in keeping this Club accessible to a wide range of people.
Thank you for your ongoing support.
Last year saw the introduction of the Australian equivalents to
International Reporting Standards (AIFRS) and a changed reporting
format. This resulted in an increase in audit time and fees and this
additional work will be an ongoing requirement. This year we have
brought to account two years of audit and other accounting fees,
rather than continue with our past practice of including only the fees
charged for the previous year’s audit and other related services. You
will see in Note 3 a breakdown of the past year’s fees for the ‘05/’06
financial year and estimates for fees for the audit for the ‘06/’07
financial year.
You may remember that last year we elected to move from an annual
payment to a quarterly payment program for land tax and as a
consequence needed to include only two quarterly payments in our
accounts. This year the four quarterly payments have been included
as they will do for all forthcoming years.
There have been further staffing changes during the year with the
resignation of long-serving Assistant General Manager, Rosemary
Gould, and Receptionist Rachel Bauschke. The staffing review
commenced last year continued with a staffing structure now in
place that is expected to more appropriately meet future needs as
Marina West comes on line, Port Vincent Marina expands, Marina
East replacement continues and the Marine Academy program
gains pace. These staff changes highlighted again the urgent need
to upgrade the Club software to a more user friendly, more widely
supported and fully integrated program and I am pleased that, after
a lengthy investigative process, this was finally achieved in July.
Some one-off costs have been incurred as a result of these changes,
particularly during the training and transition phase as we sought
to replace Rosemary and find a new Finance Manager. Craig Evans’
appointment as General Manager has now been in effect for a full
12 month period and the Club has also appointed a Head Chef and
a Food and Beverage Manager, both on a full time basis. All of these
have contributed to an increase in salaries and related expenses.
In addition, as part of the investigations conducted by the Marina
East Replacement Committee, a recommendation was made to
consider employing maintenance personnel capable of undertaking
some of the tasks that had previously been carried out by
contractors. It was believed that, while there would be some increase
in staff costs, this could be offset by a higher level of maintenance
being undertaken at a reasonable cost by Club staff and would
provide a better long-term solution for the Club. This change to our
operations has been implemented with the decrease in our marina
and other maintenance expenses more than compensated for by the
on site work that has been carried out.
As well as $148,522 on direct maintenance expenses, at both North
Haven and Port Vincent, $246,711 was outlaid in capital costs for
replacing the main gangway and related electrical work, $24,948 for
new Club air-conditioning, $23,485 in other Club and marina-related
capital items, including the upgrade of the BBQ area, and $36,120
spent on purchasing new Club software.
Planning for the Future
We have ticked a few more things off our ‘wish list’ but that list
never seems to shrink. There will always be calls on our funds and
maintaining a fair balance between competing demands as well as
providing for the future has its challenges. Our aim is to keep fees
to reasonable levels without decreasing our services and to remain
competitive with other similar organisations. This limits the funds
that we have to work with and this coming year will see further
investigation into other non-fee means of generating income, such as
tax deductible donations.
With the approval of Marina West and the imminent release of
berths for sale, the funds for the Marina East Replacement Program
are expected to be available as needed. But we have to plan for the
long-term future and ensure that the funds for replacing our marina
assets, in particular, are there when required in the years to come.
To that end the Board recently adopted an accounting policy
recommended by the Audit Committee to recognise the nature
of the Club’s floating and other marina assets which are of a
deteriorating nature and, from 1 June 2007, to make financial
provision for their replacement by amortising the cost of marina
assets and pontoons over the useful life of such assets. I wish to
acknowledge the work done by Henry Petersen, Board Member
and member of the Audit Committee, in reviewing the Club’s asset
register and current practices and in the development of this policy.
The Next Step
Stage 1 of the Marina East Replacement program has been
completed successfully and Stage 2 should get underway next year.
Marina West has finally been approved and its development should
begin later this year, and E finger at Port Vincent has been completed
and is on the market. Our 2007/2008 capital works program includes
replacing the Cougar Cat engines, upgrading cradles and scaffolding
in the boat maintenance area, installing safety ladders throughout
the marina, undertaking further work on the BBQ area, upgrading
the telephone system and purchasing new kitchen equipment. We
have already acquired the point of sale hardware to support our new
software in the bar and kitchen. Funds for other priorities highlighted
in our Strategic Plan have also been earmarked.
To follow on from the independent valuation of all Club property
by Savills late in 2005 we have recently undertaken an independent
stocktake of all other Club plant and equipment. This information
will form the basis of a full revaluation of the Club’s assets, ensuring
that we have a clear and up-to-date picture of all our assets as we
move into a new era for the Club. Our financial progress over the last
year has been positive and our financial position is stronger.
In this, my second and last report as Treasurer I want to record my
sincere thanks to Craig, Rosemary (up until late last year) and now
Zoya and Jenny for their assistance in maintaining a close watch on
day-to-day finances and keeping me informed. Thank you also to
my fellow Board members for their support, particularly to President
Geoff Catt for his always well considered advice and willing ear.
After seven years on the Board, I am looking forward to a little more
time to get out on the water while still having an opportunity to
contribute through the Marine Academy and Audit Committees.
Jenni Paynter, Treasurer
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Commodore’s Report
Looking back over the past 12 months, what a successful and
busy year the Club has had on and off the water.
Mumm 30 Nationals Sydney
Opening Day on November 11 commenced with a moving
Remembrance Day ceremony. Wreaths were laid by myself as
Commodore, Social Association Chair Larri Maron and by Senior
Member Kerry Lampard in honour of all who served our country
in war. It was a sombre moment before members and guests
celebrated the opening of the season in fine style. Despite a few
anxious minutes early in the day, the weather gods were kind and
a colourful and impressive sail past took place with well over 100
boats participating.
Milang Goolwa
The season was officially opened later in the afternoon and
presentations to the various categories of best dressed power and
yachts were made. Lady Neal presented her Seamanship awards
and a special presentation was made to Jack Nealy as Volunteer of
the Year. Twenty-five year membership badges were presented to
those in attendance who joined the Club In 1981.
Opening Day Awards
Best Dressed Power Boat – Good Vibrations – Barry Willoughby
Best Dressed Yacht – Sapphire – Daniel Hains
Best Dressed Crew – Power – The Reel Thing – Wayne Palmer
Best Dressed Crew – Yacht – Allegro – Stan Benjamin
Best Dressed Yacht – Novelty – Ruffian – Brian Horley
Special Mention – Sooner or Later – Phil Newton
Lady Neal Seamanship Awards – Power – Andante – Geoff
Gowing and Tess McGrath
– Yacht – Marnico – Graeme and Gay Footer
We, as Members of the CYCSA, should be very proud of the
performance and dedication of the skippers and crew who
represent our Club in the major yacht races around Australia and I
refer to the following.
Sydney to Hobart
Hardys Secret Mens Business (Geoff Boettcher) – 10th over the
line, 18th on IRC
Geelong Week
Hardys Secret Mens Business (Geoff Boettcher) – 1st Overall IRC
Black
True North (Andrew Saies) – 3rd Overall IRC White, 1st Overall
40.7.
As Good As It Gets (Dick Fidock) – 5th Overall IRC White, 2nd
Overall 40.7
CYCSA IRC Team (Hardys Secret Mens Business, True North, As
Good As it Gets) – 1st Overall Teams Event
Escapade (Richard Parkes) – 6th Overall Sports Boats
Hold The Pickles (Mark Roberts) – 15th Overall Sports Boats
8
Port Dock Ginja (Chris Tillet) – 3rd Overall
Congratulations to Foxy (Derek Morrison) for winning the
monohull racing division on handicap and Game Over (Julian
Newton/Nicholas Wotton) for being the fastest monohull home,
beating the race record by four minutes.
Congratulations to the Board of Directors in achieving a
favourable result in the development of the Western Basin
Marina. It has been a long five years and persistency has won.
President Geoff Catt, General Manager Craig Evans, Treasurer
Jenni Paynter, Life Member Graeme Footer and others must be
congratulated.
The Associations’ chairpersons have had many successful
functions during the year giving members every opportunity to
enjoy club life – I refer to Larri Maron, Social Activities, Chris
Morphett, Cruising, Ray Brown, Fishing, Wayne Coonan and Greg
Patten, Racing.
The traditional Closing of the Season has taken place at our
Marina CYCSA Port Vincent in conjunction with ANZAC Day over
the past years. However, this year ANZAC did not fall kindly in
the calendar for us in the month of April with the 25th being a
Wednesday. We have been fortunate over the last couple of years
as ANZAC has fallen on a Friday and Monday fitting in well for all
of us to participate in this very important event.
It was decided that the Vincent Dash yacht race across the Gulf
would continue with Saturday 21 being race day. Serenity and the
Port Vincent entrance breakwater acted as the finishing line.
The presentation took place at 1700 hours in the Marina. Sixteen
yachts completed with Aquilla being first over the line, closely
followed by G Wizz and As Good As It Gets. On handicap, the
winner was Kinetic Energy - Andy Shipp, Second was Patrice 111
– Shane Wiseman, Third was Liberator – Geoff Catt.
After presentations, the vast majority of us, about 150 people
booked, moved on to the local hotel where we experienced great
food, company and wine.
In closing, I would like to thank Barbara for her support and
company over the past twelve months assisting me in my duties as
Commodore. We look forward to seeing you on the water or at
the Club in the coming year.
Peter Page, Commodore
Audit Committee Report
The Audit Committee was formed to provide assurance to the
Board that the Club is meeting its financial responsibilities with
respect to overseeing all aspects of financial reporting, control and
functions. The Committee’s responsibilities include:
planning approval given for Marina West it was decided it would
be appropriate to review the carrying value of the Club’s assets
going forward. Those asset re-valuations will take effect from the
commencement of the 07/08 financial year.
To develop an annual audit plan to be reviewed and authorised by
the Board;
To periodically review the accuracy of the General Manager’s
financial reporting to the Board against Board stated criteria;
To liaise with the external auditors;
To review the annual audit plan of the auditors;
To review the audit findings and the annual financial statements;
To oversee compliance with statutory responsibilities relating to
financial and other disclosure;
To periodically monitor corporate risk assessment, particularly
financial risk, and the internal controls instituted in response to
such risks; and
To manage the conduct of such orders in other areas of the Club
operations against Board stated criteria as requested by the Board.
As you will note from the Treasurer’s Report in the Financial
Statements, your Club is in a sound financial position. As the
Club progresses the Marina West development it is important that
we continue to operate with appropriate fiscal discipline and in
accordance with applicable financial and statutory requirements.
Andrew Corletto, Chair
During the past year, in addition to undertaking the responsibilities
outlined above, members of the Committee were involved in the
selection of the Club’s new software. The new software deals
with membership and marina issues as well as providing a much
needed improvement in the accounting package.
A particular focus for the Committee this year is to review the
carrying value of assets of the Club and associated entities. With
the introduction of new accounting software and the favourable
9
Marina East Replacement Committee Report
Stage 1 of the replacement program ‘the supply and installation
of a new access gangway to the marina’ was successfully
completed this financial year along with the removal of the
redundant gangway and the small eastern gangway which no
longer complied with Code requirements.
The total cost of the installation of the new gangway and
associated works slightly exceeded the initial estimate but was
contained to within the budget allocated by the Club for Stage 1.
Stage 2 of the replacement program ‘replacement of the THeads at the ends of Rows AB and CD’ is planned to proceed in
the latter half of the current financial year and a firm price and
program is currently being negotiated.
It is expected that costs will be contained within the estimates
provided in the Marina East Replacement Report.
In accordance with the recommendations of the MER Committee’s
Report to the Board in 2006, the annual review of the report has
been undertaken and apart from minor adjustments to escalation
(an increase from 5% to 6%) no other changes to the report have
been made. Completion of the replacement program remains at
2017.
Funding for the MER Program was initially expected to be met by
income generated by the Marina West Development but due to
delays, which members are all well aware of, will now be financed
in the short term by alternative funding.
I wish to thank the staff and all Club members for their patience
during the replacement of services to the marina via the new
gangway. There were many unforeseen problems and disruptions
to services during the exercise but with perseverance and
understanding, a successful outcome was achieved.
Jack Nealy, Senior Member
Marina Maintenance Committee Report
During the past year the Marina East Replacement program
began with the replacement of the main walkway and associated
pontoons. At the same time new electrical, fire and water services
were installed in preparation for continuing the replacement
program and to bring these up to the current Australian
Standards. Provision was made for any additional services in the
future such as data cabling etc.
We are continuing to monitor both above and below water
condition of walkways and fingers annually to assist in assessing
maintenance or replacement requirements.
Club Maintenance staff and contractors have been busy with
routine maintenance and replacement of many old components.
Replacing of knee brackets, repairs to fire mains, replacing
whalings, installing and upgrading power supply to berths and
replacing panels are just some of the many tasks undertaken over
the past 12 months.
Tim Went, Operations Manager
10
I would like to thank the Maintenance Committee of Jack Nealy,
Tim Marsh and David Evans for their considerable contribution
over the past year.
Marina West Development Committee Report
Background
The establishment of the Marina West Development Committee
was approved by the Board in November 2005 in recognition
of the amount and scope of detailed preparation and planning
that had already occurred and that was looming as the project
continued to evolve. To that point work was being done by a
number of individuals and it was deemed necessary to coordinate
these activities and ensure that the Board was kept informed and
able to make appropriate decisions.
Terms of Reference
The objective of the Committee is “to assist the General Manager
in gaining development approval for the project, in formulating
any necessary changes to gain such approval and to make
appropriate recommendations to the Board. Once development
approval has been gained, the Committee, acting on behalf of the
Board, is to direct the General Manager in arranging construction
and commissioning.”
a time consuming and expensive exercise forced upon the Club
by the action taken by these appellants. Exhaustive and detailed
investigations carried out by the Club meant that on 29 June
2007 the ERD Court found in the Club’s favour by approving
the development in every respect and detailing the conditions to
apply. These were all acceptable to the Club and we are now in a
position to move forward again.
Over the past 12 months considerable expert witness information
has been accumulated and this will now assist in the final design
and construction phase. During this time the Club also appointed
Trevor Ellis and Associates as Project Manager and representative
of the Club.
The past 12 months has also been positive as the demand for
larger berths has firmed and new products and technology have
emerged. A marketing phase is about to commence with a view
to obtaining sufficient firm berth sales so that construction can
begin.
Membership
The current membership of the Committee is:
Geoff Catt (Chairman and Board Member)
Jenni Paynter (Board Member)
Graeme Footer (Senior Member)
Ken Amos
(Senior Member) appointed July 2007
Peter Page
(Commodore and Senior Member) stepped down July 2007
Phil Tregenza
(Senior Member) stepped down July 2007
As with all Board committees it is a requirement that the Chair is
always a Board Member.
Activities
As members would be aware, approval for the project was
granted by the Port Adelaide Enfield Council on 7 June 2006.
However, three residents from One and All Drive appealed
against this decision and much of the past year has been spent in
preparing for and participating in the hearing in the Environment,
Resource and Development Court. Without doubt this has been
CYC Marina West will provide the Club with a different marina
product. It will cater for larger vessels and include 73 new berths
ranging in size from 11 to 35 metres. It will have its own secure
parking facilities, an arrival and greeting area, security office and
toilet and shower facilities. Trolley and storage areas will also
be provided. Of significance is the emphasis that the Board has
placed within the Master Plan to ensure that Marina West is fully
integrated with the existing Club facilities as well as a requirement
for the highest levels of security in the new precinct.
On behalf of the Club, I would like to thank General Manager
Craig Evans for the inordinate amount of effort put in to assemble
expert witnesses, liaise with our legal team and attend court
during this period – this was done in addition to his normal duties.
I also acknowledge and thank the committee members for their
continuing time and expertise – it is much appreciated.
Geoff Catt, Chair
11
Marine Academy of Australia Committee Report
I am pleased to present the first annual report of the Marine
Academy of Australia. After a protracted phase of discussion and
partial implementation of a limited number of courses in the last
few years, the MAA has made great progress this year. With the
appointment of Brett Yardley as Course Coordinator in April a
range of achievable courses, practical instruction and educational
sessions have been programmed for the 2007/08 year. This
program has been sent to all members and is also published online.
Members need to be aware that the roll-out of this program
presents a significant challenge to the MAA which at this early
stage in its development has limited financial and equipment
resources. The Board have agreed to a small seed grant in order to
establish the MAA and its programs but with the very reasonable
expectation that the Academy must meet all its administrative,
equipment and teaching expenses and be self funding in the near
future. The MAA is responsible to the Board through the Board
constituted subcommittee which meets regularly throughout the
year.
One of the challenges in setting the program has been to find
and ‘contract’ instructors with the appropriate YA or commercial
qualifications with the time and inclination to provide their
services to the MAA. Those few who have the appropriate
expertise in SA tend to have already established their own private
commercial sail training schools. Brett has put considerable time
into securing the appropriate instructors for the various courses
on offer while at the same time upgrading his own YA credentials
in order to allow him to instruct in more advanced courses.
12
The program may not run perfectly in its first year and may
not meet all members expectations but it will only be with this
experience that the program can be fine tuned and improved.
The overall objectives of the MAA are to increase the enjoyment,
safety and knowledge of members and non members (potential
new members) for recreational power and sail boating and yacht
racing. There will be an emphasis on: ‘adding value’ for current
club members, providing specific courses relevant to the various
Associations, developing successful junior programs and activities
and, in time, establishing the CYCSA as the place to go to learn
how to go boating.
Andrew Saies, Chair
Groundswell Editorial Committee Report
As the written record of the Club, Groundswell serves many
purposes. It informs members of what is going on at the Club and
hopefully, it also passes as enjoyable reading with the numerous
and varied articles that members contribute. The magazine has
gone from strength to strength due in part to the quality of the
articles and advertisements but mainly to the work put in by a
small group of volunteers who put it together every three months.
As mentioned last year, advertising helps to keep our costs down
and allows us to provide the quality magazine that Groundswell
is at a minimum cost to members so if you would like to advertise
your business and gain exposure to some 1200 discerning
members, plus coffee table readers, please see Jenny Krogdahl
in the Club Office. The advertising does not have to be boating
related, you may just want to use a different medium to get your
message across and we can cater for your advertising needs from
business card size to full or double page spreads and inserts at
very reasonable and competitive rates.
It is not easy to determine what you want from your magazine so
if any member has a suggestion about content etc please either
have a chat to one of the editors or give a note or send an email
to the Office and they will pass it on. Groundswell has its own
pigeon hole in the Office so drop in your contributions.
We have kept the Personality Profile article and the New Boats at
the Club as favourable comments are often received about these
and I hope you enjoyed the special reviews of the Sun Odyssey
Jeanneau 49DS and the Maritimo 48.
journalist Bill Lunn is happy to write an article collaboratively or by
interview with boat owners and Trevor Paynter is happy to take
photographs on-board and from his power boat to complement
the text.
Perhaps a ‘Letters to the Editor’ section could be included but of
course, this requires members to write in so put pen to paper and
see what you can come up with. You will appreciate however that
not everything submitted can be included as there has to be some
editorial control over the type and scope of matter printed.
From Hardys Secret Mens Business’ successes at Hamilton Island
and Geelong to Mulloka ll’s World Trip article and the Cruising
Association’s Monarto Wildlife outing, the magazine has reported
on them all and with your help and encouragement we can
continue to do this in the years to come. Crabbing Day, Opening
Day and the Boat Hop, together with countless other reports, all
add to the flavour of Groundswell and even the Annual General
Meeting Minutes and Reports can have their light moments.
I would like to thank my co-editors, Kay McBryde and Bill Lunn
who, together with Club Office Manager Jenny Krogdahl and
representatives from the Club Associations, have helped put
the magazine together. Our graphic designer, Trevor Paynter,
besides setting out Groundswell so that it comes out as the very
professional magazine that it does, also helps in many other ways.
Reflex Printing owner Tom Tymons’ personal attention to the
printing just gives it that finishing touch.
Thank you all for your support over the year and happy reading.
We hope to be able to put together more of this type of article
as most people enjoy reading about the latest designs etc. Our
Gay Footer, Co-Editor
13
Association Reports
Cruising Association
The past year has been a very busy and enjoyable one for the
Cruising Association.
Our first function, the Cruise of the Year Dinner was held on
Friday 15 September. 150 members were spell-bound by the
entertaining anecdotes of Val and Tony Causley, who recounted
some of the highlights of their five years away on the high seas.
Their often amusing presentation generated a lot of questions and
enthusiasm. They were certainly worthy recipients of the 2006
Cruise of the Year trophy.
The October long weekend brought favourable winds and seas,
which enticed a number of our members to cross the Gulf and
take advantage of the fabulous facilities in the Port Vincent
marina. Group walks into town and long happy hours on a variety
of boats have become a very popular custom over there.
Environmental Sunday on 5 November saw about 50 CYC
members get down and dirty as we prepared for Opening Day
the next weekend. It was pleasing to note that the amount of
litter on the revetment walls was reduced this year but the groups
attending to the public ramp and car park had a big job. Our
efforts were rewarded by a delicious complimentary barbecue
lunch, thanks to the generous donation of meat from CYC Senior
Member Rob Robinson and his company Fleurieu Fresh. The CYC
contributed the delicious salads and drinks. Thank you to my hard
working committee members for cooking and serving the meal.
During January 2006 a number of CYC members sailed to Hobart
via King Island, Strahan and Port Davey. We invited them to tell
us about their adventures on Friday November 17. We heard of
grand scenery, self-drive mini-bus trips around King Island, big
seas and breath-taking wilderness areas. Thank you to all the
presenters who contributed that evening.
14
Kangaroo Island was the intended destination for the Association
cruise between Christmas and New Year. However, the weather
was pretty ordinary and the consensus of opinion was that Port
Vincent looked more attractive. A good number of boats made
the trip in that direction and New Years Eve was a cold but
sociable affair in the marina. We look forward to more favourable
conditions next season.
In mid January three yachts left North Haven bound for Stansbury
to service the CYC moorings there. Selkie tried to lighten the load
by dropping her mast off mid Gulf. The result was not particularly
neat and tidy so all three boats detoured to Port Vincent for the
night. Undeterred, the group arrived in Stansbury early the next
morning so the diver could undertake his work. Not all of our
moorings could be attended to that weekend so Intrigue made
a return trip a couple of weeks later. We now have new mooring
ropes and buoys double shackled to the chains below. Thanks
Geoff Common. Now we must educate CYC members to pay
their way when using those moorings so that we can cover our
costs and continue the service.
The Cruising Association Committee made plans for the annual
Cruise in Company to Port Lincoln during February/March. At mid
January more than a dozen boats were intending to participate.
Unfortunately, for a number of reasons, including Selkie’s mishap,
all but one of those boats withdrew, so we are now planning a
bigger and better cruise next year.
During the year Senior Member Owen Mace offered to set
up an internet group site which would allow members of our
Association to contact each other for the informal exchange
of ideas and information on topics related to boating. Over 30
members have taken advantage of the invitation so far and it is
proving to be an interesting innovation.
With the Adelaide Cup long weekend shifted to early March,
we looked forward to good boating weather. Bill Lunn was to
be the convener of the Association cruise to Wirrina and he put
in a lot of time planning the activities. Unfortunately, it became
clear during the week prior to the weekend that the weather was
determined to foil us. The cruise was called off but Bill organised
some fun and games in our own marina. The Ducky Dance proved
to be a very popular diversion and I’m sure Bill will be called on for
repeats.
Having experienced a couple of disappointments, we looked
forward to Easter and desperately hoped for favourable weather.
We were in luck. A good size flotilla set sail for the Cutter Patch
on Good Friday and enjoyed excellent conditions. It was very
rewarding to look around the group and see a mixture of sail and
power boats of various sizes, crewed by members with a wide
range of experience. The rest of the weekend was just as good.
It was lovely to catch up with Les and Kate Harper in Stansbury
at our traditional Easter barbecue. We must also thank our Easter
Bunny Delia Mace who spread goodwill and Easter eggs among
the older and younger citizens of Oyster Bay.
Two years ago we introduced the Cruising Association monthly
barbecues during the sailing season. They have gone from
strength to strength, playing a significant role in the social life
of our club. We invite all CYC members to join us, whether you
consider yourself a member of the Cruising Association or not.
With all the best intentions in the world, our Committee would
never be really effective without the skills and goodwill of the
CYC staff. We have been very appreciative of them all and thank
them for their service above and beyond expectations.
After five years on the Cruising Association Committee, it is time I
stood aside. I have enjoyed two very rewarding years as Chairman,
largely because of the support and encouragement I have received
from the members of my excellent committee, some of whom are
also standing down after years of service. Thank you in particular
David Murray for your seven years, six of them as Secretary.
Thank you Terry Denham and Claude Marchesi for your years of
wise counsel. I also extend my thanks and best wishes to Sylvia
Common, Trevor Kipling, Pauline Lunn and Kym Weeding.
Thank you to my ever patient and understanding wife Rosalie and
to all the members of the Association who have supported us.
We will of course continue to be active members of the Cruising
Association.
Congratulations and best wishes to all members of the 2007/08
Cruising Association Committee.
Chris Morphett, Chair
Statement of Cash Flow 31 May 2007
Carried Forward
$5,269.73
Income Details
Monarto Zoo Trip
Raffle
Moorings
Interest to 31.5.07
Total Income
2,620.00
108.00
50.00
171.27
2,949.27
Expense Details
Monarto Zoo Trip
Easter Eggs
Flyers
Mooring Expenses
Total Expenses
2,265.45
81.45
40.00
247.85
2,634.25
Balance as at 31.5.07
15
$5,584.25
Association Reports
Fishing Association
Season 2006-2007 for the Mistral Fishing Association can be
remembered as one of the best ever.
Fish and Chip Night mid-October was well attended by members.
Rolf Czabayski gave an interesting talk supported by a video
of the Great White shark tagging program. Ray Baddeley and
his son, representing Ray and Anne’s Tackle were on hand with
some of the latest rods and reels. Ray has offered the Fishing
Association members 10% discount on all equipment purchased
at his stores.
November was a busy month – Opening Day and the Boating
Extravaganza. Six beautiful boats, some brand new and one
classic made up the flotilla with sterns in on the walkway. The
weather was perfect, food and drink was free. It doesn’t get
much better. Later in the evening, with lights blazing from our
onboard generators, it was a magnificent sight. Thank you to all
the committee persons, their wives and partners for your help as
pursers on the night.
December we actually did some fishing – the bigger boats
travelling to Port Lincoln or Kangaroo Island, while the trailer
boats headed for the Peninsula. Good catches of quality table fish
were reported from most areas. The reefs off Cape Cassine saw
yours truly land a nice gummy shark, in fact we were plagued
with them. Ian Guest on the same trip landed a wonderful Eagle
Ray of 27kgs on 4 kg Line. We left Ian to his own devices for 1
and a quarter boring hours as the little Aussie battler struggled
with this critter. This fish was the heaviest ray for the year.
New Years Eve, American Beach was the place. Lots of yachts,
trailer sailors and powerboats, we were all there. Thanks to Tess
and Geoff on board Andante for a wonderful evening.
Australia Day at Black Point was another great weekend. Typical
Black Point, which in blackfellars language means ‘a windy place’,
lived up to its name. The raft-up BBQ was well supported – many
yachts and trailer boats made the effort to participate along with
boats from Holdfast Shores. The salads were great, but the meat
was as tough as. A few fish and squid were caught, but with wind
against tide it was impossible to fish the deeper water.
February – Crabbing Day. It was a scorcher of a day heat wise,
with one of the lowest tides. A record number of boats and
people filled the lawns of the Club. Cummins Marine supported
us on this day in a major way. They provided us with a genset to
raffle, along with prizes and Cummins gift bags.
16
The proceeds for the genset were donated to the Coastguard,
the Sea Rescue Squadron and the VMIR organisation. Les Harper,
a nice old man who is continually harassed at tea time by boaties
advising him they have shifted 400 meters with 3 POBs on board
For God’s sake give him a break! These three organisations each
received $400 from the proceeds of the generator. We should
recognise the massive effort Geoff Gowing made, not only
securing Cummins’ support but also, almost alone, coordinating
cooking on the day.
This month Tim Marsh, Rick Hausler and I scooted back to
Black Point to maintain our moorings. It’s a struggle for three
old chargers pulling and tugging at the chains. It near killed us,
but we did it and all the ropes have been lengthened, shackles
replaced, chains checked and new buoys attached. We made
one of the local fishos come shack owner the custodian of our
equipment. This worked well. Within two weeks one of the ropes
had been damaged. When using the moorings please ensure the
holding rope passes over the bow roller.
Easter time we were back at American River in company with
many CYCSA Riviera owners for the Riviera Experience. Almost
40 boats enjoyed the Riviera team’s hospitality – the cocktail party
Friday night and the beach BBQ on the Sunday, the main events.
With such a heavy social program it was hard to find time to fish,
however Geoff Gowing fishing the early morning tide boated
some nice garfish and salmon trout.
Anzac Weekend. The Polluters, that’s us, forfeited the cricket
match as some clown had the holiday in the middle of the week.
A small party of boats travelled to Cape Border for the annual
Tuna hunt. We found the fish about 5/6 miles north west of
the Cape and had our limit within an hour. Roy Wells’s largest
fish, almost 19kg gave him the Game Fish prize for the year. Jim
Smyth travelled to Border, caught his limit then headed for home
on the same day. Running his boat at 150l/h does ‘value add’
a half dozen Tuna. Fishing the ledges off cape Cassini both Roy
and I bagged out on large Snapper before returning home. The
heaviest fish caught outside SA waters went to Rod Rebbeck for a
magnificent 38kg Wahoo caught near Port Douglas while fishing
for Marlin.
These fish were to complement local fish on our Seafood Night in
May. Participation numbers were at record levels. Tony Matthews
from the Feathers Hotel and his team were again outstanding.
Along with Tony, our committee members worked all day
preparing and setting up as well as cooking half the night - a Big
Day! Thank you to the kitchen staff, office and ground staff for
their assistance on the day.
May I take this opportunity to thank the principal sponsors who
have supported our Association, in particular John Gerard from
Mistral, Roy Wells, Pipeteck, Cummins Marine and Joe Walker of
Harmony Investments. Equally important the numerous individuals
from companies within our mooring facility who have donated
goods and services. Whatever the size or form they have all
contributed to the success of our functions.
I would also like to acknowledge the effort the Fishing Association
committee has made. Our wives and to the countless others I
have dragged in at some stage, thank you all for chipping in to
make a difference.
This Association has come a long way. We have a privilege card
entitling you to discount on your tackle, 4 cents off per litre at
Wirrina through Adelaide Fuel, we give away money to other
related boating organisations, some 200 polo and dress shirts in
the field, we even dress differently but the real grabber is we have
created a group bringing other Associations together. We have all
made a difference in providing interest and comradeship with the
utilisation of our boats, our real assets.
After the last few months’ happenings with some individuals, and
after 24 years serving on some sort of committee, I have lost the
burning passion to continue. I am quite proud to have been part
of a group who really tried to make a difference; this could be my
last report.
I wish you all good fishing, good sailing, good luck, and cheers.
Ray Brown, Chair
Carried Forward
$35,484.77
Income/Function Details
Crabbing Day
Crabbing Day Raffle
Sponsorship Crabbing Day Sponsorship Mistral
Sponsorship Pipetech
Sponsorship Harmony Investments
Seafood Raffle
Seafood Night
Shirts and Burgee Sales
Cummins Diesel
Moorings
Subscription Fees - Full Year
Interest to 31.5.07
Total Income
1,355.74
1,200.00
2,000.00
3,000.00
1,000.00
1,000.00
2,230.00
11,453.40
3,180.00
3,300.00
60.00
2,740.00
1,153.26
33,672.40
Expense Details
Fish and Chip Night
Boat Show
Seafood Night
Crabbing Day
Shirts plus Embroidery
SA Game Fishing Assoc Payment
Ms T McGrath A/c
Taylors Marine Payment
Mr G Gowing A/c
Provision - Riviera Adelaide
Donation to the Coastguard
Donation to the Sea Rescue Squadron
Donation to the VMIR
Yacht Sails Pty Ltd
Reimbursement of Fuel Expenses
Total Expenses
917.81
2,896.97
9,069.53
2,664.83
3,350.00
176.00
498.00
316.95
416.32
300.91
400.00
400.00
400.00
398.46
3,300.00
25,505.78
17
$43,651.39
Association Reports
Racing Association
The 2006 -2007 Season was an ambitious program for the REX
with a wide variety of projects put in place. The aim was to give
the Association a solid foundation of sponsorship for many years
to come and develop a sailing program that allowed for regattas
and catered for the diverse area of membership.
There was an enormous amount of man hours put in by the
REX, and Wayne and Greg, who are standing down this year,
can feel pleased that a lot of the Rex’s goals were achieved. Their
contribution to the Association over the years has been greatly
appreciated. All members of the REX should be thanked for their
valuable time and efforts during the season.
This was an excellent season for success on the water with many
boats giving exceptional performances locally and interstate.
Congratulations to Boat of the Year HSMB and Crew Person of
the Year Silas Nolan, and a special mention to Tom Crabb for
his effort in the Melbourne to Osaka 2 Handed Race. CYCSA
boats excelled in Sydney – Hobart, Geelong Week, Hamilton
Island Week, Mumm 30 Nationals, J24 Nationals and Sportsboat
Nationals as well as many SA events.
The Association had a dramatic increase in income mainly due to
sponsorship that has enabled the Association to be in a strong
financial position. We should thank all those involved who have
enabled us to secure approx $60,000 in sponsorship and goods.
Audi, Phil Hoffmann Travel, Musto, Fosters-Penfolds, Yalumba,
Fleurieu Fresh, Mariner Boat Holidays, Port River Marine, Harkan.
The superb effort by the sponsorship team has put the Association
in a strong financial position
It’s fair to say that this season has presented many challenges with
the program, organisation and the Race Office. Over the last three
months the REX have addressed all these areas. The race program
has been changed to reflect the wishes of most members and
to allow racing at the Club on most Saturdays. The trade for the
18
bar and restaurant is an essential part of any club as is the weekly
social aspect of racing.
The program for next year will consist of a 17 race Club
Championship (Windward – Leewards), a 5 Race Beacon Stern
Chaser Series (beacon races). This coming year will see a 7 Race
Offshore or Inshore Series – you the members make the choice to
sail in either series. The Inshore Series will be Coaster type races to
be set by the PRO (probably beacon type racing). We will have a
refined 2 handed program.
Twilights
The Women’s Twilights will remain the same but Wednesday
Twilights will change. Wednesday Twilights will see one division
only for cruising and one division for racing. The Cruising Division
will reflect the tradition of twilight racing with the emphasis on
participation. This will be reflected with a reduction of prizes to
winners and more given out in a fun way to other members of the
fleet.
The Race Office is being restructured to offer better service to
members; stronger fiscal control and, more importantly, spending
more time on promoting participation. Presentation of results will
happen much earlier, and the website communication and results
to the media will be vastly improved.
The Association must focus on membership growth as our
membership has fallen over the last four years. Growth will
come from fostering a non-spinnaker division, women’s racing
and supporting the Marine Academy. The main thrust of the
Association for the next 12 months will be service to members
and membership growth. With the theme of 50/500 - we want to
get 50 boats and the water and achieve 500 racing members.
The Association has elected an excellent committee and we can
look forward to an excellent season.
Alyn Stevenson, Chair
Carried Forward
Income Details
Racing Association Fees
Racing Nominations
Casual Racing Nominations
Plympton/Pt Line Cup Nominations
Fred Neil Match Racing Nominations
Performance Packs
Safety Sunday
Flags
Bottles
Racing Rules Clinic LB
Beneteau-Vicsail Function
Presentation Night Income
Sail Storage Shed
Interest to 31.5.07
Sponsorship
Winter Pt River Marine
Audi
Musto
Phil Hoffmann Travel
Fleurieu Fresh
Yalumba
Kalia Cup Lottery
Yearly Planner & Advertising
Harken
Outstanding debtors as at 31.5.07
J24s
Sale of J24
Youth Match Fund
Sponsorship
Bond Returned
Total Income
Expense Details
Superannuation
Wages & Related Costs
Annual Leave Accrual
Administration
YSA Dinner
Twilight Sponsor Expenses
Sponsors’ Expenses
Duty Crew Expenses Duty Crew Gift Certificates
Repairs & Maintenance – Cougar Cat
Repairs & Maintenance – Regent Sea
Gun Repairs & Accessories $ 38,106.34
12,298.12
24,633.01 682.62
240.00
2,295.46
1,080.00
1,599.90
594.78
925.15
660.00
500.00
8,290.08
4,272.68
1,201.84
1,363.63
10,000.00
5,000.00
5,000.00
5,000.00
3,500.00
4,272.72
5,463.62
750.00
5,250.00
9,090.91
6,594.05
200.00
120,758.57
2,252.25
25,025.02
502.66
1,800.00
122.72
3,245.75
158.20
5,672.07
830.46
810.79 1,722.95 403.09
Fuel
Buoy Maintenance
North Haven Marine
Miscellaneous Chandlery
Safety Sunday Expenses
Racing Association AGM (06)
Racing Excellence
Traing Course
Internet Expenses
Top Yacht Repairs (Training Seminar)
Racing Rules Clinic LB
Man Overboard Dummy
Skipper & Crew Briefing Catering
Race Course Packs Printing
Race Course Packs Stationery
Cost of Flags Blue Books in Stock
Lanyards
Stickers
Fax Machine Costs
Flags
UHF Walkie Talkies
Countdown Clock
Office Goods
Signwriter
Match Racing - Youth Team Uniforms
Yearly Planner
Prizes/Trophies
Embroidery
Presentation Night Expenses
Fred Neil Match Racing Expenses
Raffle Tickets
Repairs - Sail Storage Containers
Port Line Cup Entries
Outstanding Creditors as at 31.5.07
J24s
J24 Lease
Advertising
Binks Marine
Thompson Stainless
Youth match Fund
Entry Fee
Regatta Expenses
Polo Shirts
Total Expenses
19
5,055.22
826.73
538.40
62.33
240.00
98.60
65.00
880.67
1,072.50
250.00
500.00
1,195.00
37.50
2,367.00
718.77
393.40
1,410.46
2,880.00
1,812.90
1,209.00
108.66
18.18
36.75
824.00
1,503.74
2,513.62
7,915.77
827.10
9,735.89
1,797.73
557.88
217.50
420.00
727.21
500.48
102.95
10.31
102.27
1,300.00
1,149.37
140.70
94,669.57
$64,195.34
Association Reports
Social Activities Association
Once again we have brought to the members a variety of events
which seem to attract a different crowd to each event. Then there
are the regular attendees to all events which is terrific.
The Children’s Christmas Party is by far the largest event and an
enjoyment for all. New decorations went up in the BBQ area and
lunch was held under the patio due to number of children and
families we needed to make room for. Santa arrived on time on
board Jim Smyth’s ‘sleigh’. Thanks to Michael Roderick, Jim Smyth
and the fishing boys for helping to bring Santa to the children
again.
The Mouse Cup - A novel event with a ‘change of pace’ held
at Melbourne cup time. The serious punters got involved, a fun
night.
Our number 1 event is the Boat Hop. Thanks go to many for
their input to this day. James Keane and crew from Orlando for
all the wine and help they so gladly give we say a big thank you.
The staff of the Club for all their help with food, name tags and
juggling the seating and numbers right up to last minute! We say
thank you. To the fishing boys once again for helping to arrange
some of the boats to the front for a more festive look.
Next year it may be possible to bring all the boats forward with
more access available with the small bridge removed. A very lucky
new member Richard Watson will be off to the Sydney Boat Show
after winning the Boat Hop Lottery which was provided with the
compliments of the Social Committee. Finally we wish to thank all
those who host their boats on the day, without them we wouldn’t
have an event. Thank you.
The Trivia Night is a regular feature in the winter .This event
definitely has a regular band of followers who know a lot more
trivia than I have ever thought possible. It is all about having fun
and answering as many questions as you can before the odd glass
of wine totally removes the grey matter! We thank our President
Geoff Catt for the kind donation of an extra large bottle of red
(with many medals on it) to raffle on the night.
The Presidents Dinner. This year we look forward to our
involvement in helping make this a glamorous night. Geoff and
Mavis Catt have put together a great menu and entertainment
to make this a premier event. We hope to see you all there with
your dancing shoes on! Geoff has kindly chosen and generously
donated from his own cellar 50 bottles of wonderful reds with
one a little more wonderful. Buy a cork on the night and see if
your bottle is the very special one.
20
The Committee members are Jacq Heffernan, Mavis Catt, Pam
Humeniuk, Inese Lainis,Delia Mace, Kay McBryde, Cheryl Maybury,
Kay Tidswell, Sandra Richards and Larri Maron .
I wish thank you all of you for your contributions throughout
the year. I also thank Jacq for her role as secretary. A great
contribution with sending out the minutes, keeping us all
informed of what we actually said and agreed to in the meetings!
Thanks go to Trevor Paynter for doing our artwork for the posters
and invitations during the year, and Tom Tymons for printing.
All in all I have enjoyed my time on the committee from 2001 to
2007.There have been some very satisfying moments and lots
of fun. The dance routine the committee performed to the tune
Sex Bomb by Tom Jones and the hilarious rehearsals (with dance
instructor Rhett English) leading up to the night was a stand-out
for me. I have also enjoyed the reinvention of the Boat Hop and
hope it continues as a regular feature on the CYCSA calendar. I
wish the committee success in the future.
Enjoy your boating and socializing together in 2007-2008.
Larri Maron, Chair
Carried Forward
$7,547.68
Income Details
Quiz Night
Jazz Lunch
Mouse Cup
Children’s Christmas Party
Christmas Cocktail Party
Boat Hop
Interest to 31.5.07
Total Income
3,240.00
1,431.15
1,081.54
2,041.95
1,127.16
5,744.88
245.30
14,911.98
Expense Details
Quiz Night
Jazz Lunch
Mouse Cup
Children’s Christmas Party
Christmas Cocktail Party
Boat Hop
Flowers to new member (Rose Palmer)
Total Expenses
3,086.00
1,100.00
1,297.82
3,279.24
705.14
1,813.92
47.00
11,329.12
$11,130.54
Club Structure
The following diagrammatical representation of the Club’s
structure is provided to clarify the relationship between the
associated entities and the function each entity undertakes in the
total club structure.
•
•
CYCSA Incorporated (referred to as ‘the Club’)
•
Senior Members elect a seven member Board of Management
annually
• The Board of Management (‘the Board’)
- is responsible for the management of the Club with
delegation of appropriate responsibilities to the General
Manager
- 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.
The entities of the CYCSA have been structured so as to minimise
taxation liabilities, to hold and protect Club assets, and to enable
members’ activities and services to be provided through the Club
in accordance with the Constitution.
•
CYC Ramp Trust
•
•
•
•
CYC (SA) Unit Trust
•
The major assets of this trust are the freehold of the Club
basin at North Haven, including land, water and buildings,
and the sub-lease of the Port Vincent Marina
All Senior Members hold units in this trust and therefore own
the above assets
Its trustee, CYC (SA) Management Pty Ltd has two
shareholders, Malcolm Kinnaird and Dick Fidock (one share
each), who have executed a declaration of trust stating that
they hold their shares as trustees for the Club
As an asset holding entity, the trust’s affairs have been
structured so that it does not make a profit and consequently
does not make a distribution to unit holders.
•
This is the trust established in the early 1990s to facilitate the
purchase of property including the southern area of the carpark, the land to the south and the Western Basin
The major assets of the trust are the Western Basin and the
water area adjoining the northern peninsula
The trust also operates the public boat ramp
The trustee of this discretionary trust is CYC Ramp Pty Ltd
which has two shareholders, Malcolm Kinnaird and Dick
Fidock (one share each), who have executed a declaration
of trust stating that they hold their shares as trustees for the
Club
The trust, being a discretionary trust, does not have owners,
but the beneficiaries of the trust are the Club and the CYC
(SA) Unit Trust.
BOARD OF MANAGEMENT
Directors elected annually by Senior Members
CYC Ramp Pty Ltd
As trustee for
CYC (SA) Management Pty Ltd
As trustee for
CYCSA Incorporated
CYC Ramp Trust
(Discretionary Trust)
Owns & operates ramp
& adjacent land & water,
including channel
CYC (SA) Unit Trust
Owns land & water, buildings,
marina & underlease of Port Vincent
Marina from the Yorke Peninsula
Council
Profits
Profits
Beneficiaries
CYC (SA) Unit Trust
CYCSA Inc
Beneficiaries
Senior Members
• Operates bar & slip
• Staff
• Rents buildings from
CYC (SA) Unit Trust
• Underlease of
Port Vincent Marina from
CYC (SA) Unit Trust
Members
21
CYC (SA) Unit Trust and Associated Entities
Independent Audit Report to the Unitholders, Beneficiaries and
Members of the CYC (SA) Unit Trust and Associated Entities
Scope
Report on the Financial Report
The financial report comprises the consolidated balance sheet, income
statement, cash flow statement, statement of changes in equity,
accompanying notes to the financial statements, and the statement by
committee members/directors on pages 4 to 27 of the CYC (SA) Unit
Trust (“the Trust”), for the financial year ended 31 May 2007 for the CYC
(SA) Unit Trust and Associated Entities comprising the Trust, CYC Ramp
Trust and the Cruising Yacht Club of SA Inc.
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 the committee, 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.
Directors’ and Committee Responsibility
The directors of CYC (SA) Management Pty Ltd as trustee for the CYC
(SA) Unit Trust, CYC Ramp Pty Ltd as trustee for the CYC Ramp Trust and
the committee of the Cruising Yacht Club of SA Inc, are responsible for
the preparation and fair presentation of the financial report in accordance
with Australian Accounting Standards (including Australian Accounting
Interpretations). This responsibility includes establishing and maintaining
internal control relevant to the preparation and fair presentation of the
financial report that is free from material misstatement, whether due to
fraud or error; selecting and applying appropriate accounting policies; and
making accounting estimates that are reasonable in the circumstances.
Audit Opinion
In our opinion, the financial report of the CYC (SA) Unit Trust and
Associated Entities presents a true and fair view in accordance with
applicable Accounting Standards and other mandatory professional
reporting requirements in Australia, the financial position of the economic
entity as at 31 May 2007, and the results of its operations and its cash
flows for the financial year then ended.
Cleland McFarlane Selth
Chartered Accountants
Auditor’s Responsibility
Our responsibility is to express an opinion on the financial report based on
our audit. We conducted our audit in accordance with Australian Auditing
Standards. These Auditing Standards require that we comply with relevant
ethical requirements relating to audit engagements and plan and perform
the audit to obtain reasonable assurance whether the financial audit is
free from material misstatement.
R J Selth - Partner
Dated this 7th day of August 2007.
An audit involves performing procedures to obtain audit evidence about
amounts and disclosures in the financial report. The procedures selected
depend on the auditor’s judgment, including the assessment of the risks
of material misstatement in the financial report, whether due to fraud or
error. In making those risk assessments, the auditor considers internal
22
Income Statement
for the Year Ended 31 May 2007
Note
2007
$
2006
$
Revenue
Sales
2.
Other revenue
2.
612,168
1,766,163
2,378,331
644,723
1,384,656
2,029,379
Expenses
Employee benefits expenses
Depreciation and amortisation expenses
Borrowing costs and interest
Cost of sales
Other expenses from operations
833,607
130,046
18,574
301,961
899,836
2,184,024
730,328
127,653
27,900
342,047
793,304
2,021,232
194,307
8,147
Operating surplus for the year
3.
The accompanying notes form part of this financial report.
23
Balance Sheet
as at 31 May 2007
Note
2007
$
Current assets
Cash and cash equivalents
Trade and other receivables
4.
Inventories
5.
Total current assets
421,088
94,398
42,600
558,086
215,212
78,057
29,222
322,491
Non-current assets
Property, plant and equipment
6.
Other
7.
Total non-current assets
Total assets
6,582,078
407,971
6,990,049
7,548,135
6,375,029
179,717
6,554,746
6,877,237
Current liabilities
Short-term borrowings
8.
Trade and other payables
9.
Provisions
10.
Total current liabilities
790,426
570,029
44,904
1,405,359
522,151
363,337
29,165
914,653
Non-current liabilities
Long-term borrowings
8.
Provisions
10.
Total non-current liabilities
9,393
33,551
42,944
20,664
48,545
69,209
Total liabilities
1,448,303
983,862
Net assets
6,099,832
5,893,375
Equity
Contributed capital
11.
Retained profits 12.
Total equity
4,772,661
1,327,171
6,099,832
4,760,511
1,132,864
5,893,375
24
2006
$
Statement of Changes in Equity
for the Year Ending 31 May 2007
Total
$
Equity balance at 1 June 2005
5,850,098
Operating surplus for the year 2005/2006
Contributed capital
8,147
35,130
Equity balance at 31 May 2006
5,893,375
Operating surplus for the year 2006/2007
Contributed capital
194,307
12,150
Equity balance at 31 May 2007
6,099,832
25
Statement of Cash Flows
Note
Cash flows from operating activities
Receipts from membership fees
Payments to suppliers and employees
Interest paid
Finance charges on finance leases paid
2007
$
2006
$
2,296,081
(1,868,016)
(20,021)
(1,570)
1,614,793
(1,501,012)
(27,900)
(2,054)
406,474
83,827
Cash flows from investing activities
Payments for property, plant & equipment
Payments for marina development
Proceeds from sale of assets
Net cash provided by investing activities
(380,060)
(235,036)
11,000
(604,096)
(47,922)
(106,387)
18,791
(135,518)
Cash flows from financing activities
Principal repayments of finance leases
Proceeds from issue of units
(Repayment of)/additional borrowings
(6,350)
12,150
513,500
(5,865)
35,130
(50,000)
Net cash provided from financing activities
519,300
(20,735)
Net (decrease)/increase in cash held
321,678
(72,426)
Cash at the beginning of the financial year
99,410
171,836
421,088
99,410
Net cash provided by operating activities
14b.
Cash at the end of the financial year
14a.
26
Notes to and forming part of the Financial Statements
Note 1: Statement of significant
accounting policies
The financial report is a general purpose financial report that has been
prepared in accordance with Accounting Standards, Australian Accounting
Interpretations, other authoritative pronouncements of the Australian
Accounting Standards Board and the requirements of the Associations
Incorporation Act (1985).
Subsequent costs are included in the asset’s carrying amount or
recognised as a separate asset, as appropriate, only when it is
probable that future economic benefits associated with the item will
flow to the association and the cost of the item can be measured
reliably. All other repairs and maintenance are charged to the income
statement during the financial period in which they are incurred.
Depreciation
The depreciable amount of all fixed assets including building and
capitalised lease assets, is depreciated on a straight-line basis over
their useful lives 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
Leasehold improvements
0% - 5%
Plant and equipment
The assets’ residual values and useful lives are reviewed and adjusted,
if appropriate, at each balance date.
The financial report covers CYC (SA) Unit Trust and Associated Entities
comprising the Trust, CYC Ramp Trust and the Cruising Yacht Club of SA
Inc. as an individual entity.
The financial report of the economic entity complies with all Australian
equivalents to International Financial Reporting Standards (AIFRS) with the
exception of certain requirements specific to not-for-profit entities.
The following is a summary of the material accounting policies adopted
by the economic entity in the preparation of the financial report. The
accounting policies have been consistently applied, unless otherwise
stated.
Reporting Basis and Conventions
The financial report has been prepared on an accruals basis and is based
on historical costs modified by the revaluation of selected non-current
assets, and financial assets and financial liabilities for which the fair value
5% - 40%
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.
basis of accounting has been applied.
Accounting Policies
(a) Income Tax
The Cruising Yacht Club of SA Inc is exempt from tax under Subsection 50-45 of the Income Tax Assessment Act. Under current
income tax legislation, the CYC (SA) Unit Trust and the CYC Ramp
Trust are not liable to income tax provided their taxable income is
fully distributed to beneficiaries.
(b) Inventories
Inventories are measured at the lower of cost and net realisable value.
retained earnings.
(d) Leases
Leases of fixed assets where substantially all the risks and benefits
incidental to the ownership of the asset, but not the legal ownership,
are transferred to the association are classified as finance leases.
Finance leases are capitalised by recording an asset and a liability at
the lower of the amount 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 where it is likely that the association will obtain
ownership of the asset or ownership over the term of the lease.
(c) Property, Plant and Equipment
Each class of property, plant and equipment is carried at cost or
fair value less, where applicable, any accumulated depreciation and
impairment losses.
Plant and Equipment
Plant and equipment are measured on the cost basis less depreciation
and impairment losses.
This carrying amount of plant and equipment is reviewed annually by
the committee members/directors to ensure it is not in excess of the
recoverable amount from these assets.
Gains and losses on disposals are determined by comparing proceeds
with the carrying amount. These gains and losses are included in
the income statement. When re-valued assets are sold, amounts
included in the revaluation relating to that asset are transferred to
27
(e) Financial Instruments
Recognition
Financial instruments are initially measured at cost on trade date,
which includes transaction costs, when the related contractual
rights or obligations exist. Subsequent to initial recognition these
instruments are measured as set out below.
Financial assets at fair value through profit and loss
A financial asset is classified in this category if acquired principally
for the purpose of selling in the short-term or if so designated by
management. Derivatives are also categorised as held for trading
unless they are designated as hedges. Realised and unrealised gains
and losses arising from changes in the fair value of these assets are
included in the income statement in the period in which they arise.
Available-for-sale financial assets
Available-for-sale financial assets include any financial assets not
included in the above categories. Available-for-sale assets are
reflected at fair value. Unrealised gains and losses arising from
changes in fair value are taken directly to equity.
Financial liabilities
Non-derivative financial liabilities are recognised at amortised cost,
comprising original debt less principal payments and amortisation.
Impairment
At each reporting date, the 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 impairment has arisen. Impairment losses are recognised in
the income statement.
(f) Impairment of Assets
At each reporting date, the economic entity reviews the value
in use of its tangible and intangible assets based on depreciated
replacement cost to determine whether there is any indication that
those assets have been impaired. If such an indication exists, the
economic entity identifies the lowest cost at which it could obtain
the future economic benefits of the asset in the normal course of its
activity, reduced by depreciation that reflects that part of the future
economic benefits that are already consumed.
(g) 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, plus related on-costs. Employee benefits payable
later than one year have been measured at the present value of the
estimated future cash outflows to be made for those benefits.
28
(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 borrowings in current liabilities on the
balance sheet.
(i) Revenue
Annual member subscriptions and fees raised by the economic entity
during the year are recorded as gross revenue.
(j) 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 Australian 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 balance
sheet are shown inclusive of GST.
(k) Comparative Figures
When required by Accounting Standards, comparative figures have
been adjusted to conform to changes in presentation for the current
financial year.
Critical Accounting Estimates and Judgments
The economic entity’s 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 are based on current trends and economic data, obtained both
externally and within the association.
Key Estimates – Impairment
The economic entity assesses impairment at each reporting date by
evaluating conditions specific to the group that may lead to impairment of
assets. Where an impairment trigger exists, the depreciated replacement
cost of the asset is determined.
2007
$
Sales revenue
Other revenue: Commission revenue
Maintenance fees
Profit on sale of berths
Racing Association income
Ramp income
Slipway
Subscription revenue
Other revenue
Dissolution of Joint Venture
612,168
644,723
334,031
599,928
-
120,759
90,035
55,245
434,969
111,863
19,333
1,766,163
2,378,331
118,949
563,463
4,700
79,687
88,587
48,286
433,516
47,468
1,384,656
2,029,379
6,560
6,560
123,486
18,574
1,570
121,093
27,900
2,054
-
12,118
13,000
-
11,707
4,000
9,000
8,250
-
94,398
78,057
42,600
29,222
Note 2: Revenue
2006
$
Note 3: Operating surplus
Operating surplus has been determined after:Charging as expenses:
Amortisation: Plant and equipment under finance lease
Depreciation: Plant equipment and improvements
Interest paid to other persons
Finance charges relating to finance leases
Remuneration of auditor: Audit - 2005
Audit - 2006
Audit - 2007
Other services - 2005
Note 4: Trade and other receivables
Current
Trade receivables
Note 5: Inventories
Current
Finished goods at cost
29
Note 6: Property, plant & equipment
2007
$
2006
$
Land at cost
1,097,845
1,083,260
Marina and improvements at valuation, 1985 (note 1 (b))
2,985,100
2,985,100
Improvements at cost
Accumulated depreciation
3,136,602
(1,016,768)
2,119,834
2,890,890
(953,033)
1,937,857
Plant and equipment at cost
1,216,092
(890,408)
325,684
1,184,193
(837,883)
346,310
Leased plant and equipment at cost
Accumulated amortisation
32,800
(18,040)
14,760
32,800
(11,480)
21,320
Fixtures and fittings
14,029
(11,153)
2,876
12,195
(11,013)
1,182
Computing and software
36,780
(802)
35,978
-
Total property, plant and equipment
6,582,078
6,375,029
By virtue of an agreement with the North Haven Trust, land at North Haven is subject to restrictive encumbrances limiting its possible future use.
Movements in carrying amounts
Movements in carrying amounts for each class of property, plant and equipment between the beginning and end of the current financial year:
Land
Marina
Improvements
Balance at beginning
of the year
Additions
1,083,260
Computing
and s/ware
2,985,100
1,937,857 -
14,585
245,711
36,780
Disposals
Depreciation expense
Carrying amount at
end of the year
1,097,845
2,985,100
Plant and
equip’t
346,310
Leased plant Fixtures and and equip’t
fittings
21,320 46,599
TOTAL
1,182
6,375,029
1,834
345,509
(8,416)
(8,416)
(63,734)
(802)
(58,809)
(6,560)
(140)
(130,045)
2,119,834
35,978
325,684
14,760
2,876
6,582,078
30
Note 7: Other assets
2007
$
2006
$
Non-current
Development land at cost
-
-
Investment in Coastal Cove P/L
-
2
Marina West development costs
407,971
407,971
179,715
179,717
Current
Bank overdraft (secured)
Commercial bank bills (secured)
Bank loan
Lease liability (unsecured)
-
398,553
385,000
6,873
790,426
115,802
400,000
-
6,349
522,151
Non-current
Lease liability (unsecured)
9,393
20,664
Note 8: Borrowings
Details of security
Refer Note 19.
Note 9: Trade and other payables
2006
$
2005
$
Current
Trade payables
570,029
363,337
Current
Provision for annual leave
44,904
29,165
Non-current
Provision for long service leave
33,551
48,545
Number of employees as at the reporting date
21
26
592
592
4,745,950
4,736,600
26,119
4,772,661
23,319
4,760,511
Note 10: Provisions
Note 11: Contributed capital
Settled capital
Issued units, fully paid 94,919
issued units (2006: 94,732 units) at $50 each
Issued units, fully paid 26,119
issued units (2006: 23,319) at $1 each
31
Note
12: Retained profits
2007
$
2006
$
Opening balance of retained profits
1,132,864
1,124,717
Profit for the year
194,307
8,147
Closing balance of retained profits
1,327,171
1,132,864
Note 13: Associated entities
2006
$
2005
$
The consolidated accounts of CYC (SA) Unit Trust include the
following associated entities
Contribution to the consolidated operating
surplus:
CYC (SA) Unit Trust
Cruising Yacht Club of SA Inc
CYC Ramp Trust
(43,758)
154,031
84,034
194,307
(47,663)
(10,530)
66,340
8,147
(a) Reconciliation of Cash
Cash at the end of the financial year as shown in the
Statement of Cash Flows is reconciled to the related
items in the Balance Sheet, as follows:Cash on hand
Cash at bank
6,180
414,908
421,088
6,120
93,290
99,410
(b) Reconciliation of Cash Flow from Operating Activities
to the Operating Profit
Operating profit for the year
194,307
8,147
(Profit)/loss on sale of asset
Depreciation and amortisation
(Increase) in trade receivables
Decrease/(increase) in inventories
(Decrease)/increase in trade and other payables and employees
entitlements
(20,567)
130,046
(16,341)
(13,379)
1,404
127,653
(15,100)
37
132,408
(38,314)
Net cash inflows from operating activities
406,474
83,827
Note 14: Cash flow information
32
Note 15: Related party information
Directors
CYC (SA) Management Pty Ltd operates as trustee for the CYC (SA) Unit Trust (the “Trust”). The directors of CYC (SA) Management Pty Ltd during the
year ended 31 May 2006 were as follows:
J L Bates, G R Catt, A G Corletto, J D Gerard (appointed 30 August 2006), T B Marsh (resigned 14 December 2006), J D Paynter, H Petersen (appointed 14
December 2006), R W Robinson (resigned 30 August 2006), and Dr A D Saies. 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:
2007
$
2006
$
JD Paynter
11,060
6,750
Note
16: Capital commitments
Commitments under contracts for capital expenditure at balance
date not provided for in the accounts are aggregated as follows:
Payable no later than one year
-
-
-
Analysis of finance lease commitments:
Payable no later than one year
Payable later than one, not later than five years
Payable later than five years
7,919
9,898
-
17,817
7,919
17,817
25,736
Future finance charges (1,551)
(3,121)
Net liability
16,266
22,615
Representing lease liabilities:
Current
Non-Current
6,873
9,393
16,266
6,349
16,266
22,615
Note 17: Lease commitments
Note 18: Contingent liabilities
A bill discount line is provided to CYC (SA) Management Pty Ltd as trustee for the CYC (SA) Unit Trust. Cross guarantees in support of the facility have
been provided by each associated entity in the group. In addition a registered mortgage has been provided over the non-current assets of CYC (SA) Unit
Trust. As at the 31 May 2007 $400,000 was drawn down on the bill facility (2006: $400,000).
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 not drawn
down, credit balance $238,275 at 31 May 2007 (2006: credit balance $33,358).
33
Note 18: Contingent liabilities (continued)
The CYC Ramp Pty Limited as trustee for the CYC Ramp Trust (“the Trust”) has secured a line of credit of $750,000 with the Trust’s bankers on the
freehold land owned by the Trust. The purpose of the borrowing is to fund preliminary and other expenses associated with the proposed development of
marina berths on the Trust’s freehold land. As at the 31 May 2007 $385,000 was drawn down on the facility (2006: $nil).
Note 19: Financial instruments
(a) Financial Risk Management
The economic entity’s financial instruments consist mainly of deposits
with banks, local money market instruments, accounts receivable and
payable.
The economic entity does not have any derivative instruments at 31
May 2006.
i. Treasury Risk Management
A finance committee consisting of senior members meet on a
regular basis to analyse currency and interest rate exposure and
to evaluate treasury management strategies in the context of the
most recent economic conditions and forecasts.
ii. Financial Risks
The main risks the economic entity is exposed to through its
financial instruments are interest rate risk, liquidity risk and credit
risk.
Interest rate risk
Interest rate risk is managed with a mixture of floating rate debt
Foreign currency risk
The economic entity is not exposed to fluctuations in foreign
currencies.
34
Liquidity risk
The economic entity manages liquidity risk by monitoring forecast
cash flows and ensuring that adequate unutilised borrowing
facilities are maintained.
Credit risk
The maximum exposure to credit risk, excluding the value of
any collateral or other security, at balance date to recognised
financial assets, is the carrying amount, net of any provisions for
impairment of those assets, as disclosed in the balance sheet and
notes to the financial statements.
The economic entity does not have any material credit risk
exposure to any single receivable or group of receivables under
financial instruments entered into by the association.
Price risk
The economic entity is not exposed to any material commodity
price risk.
Note 19: Financial instruments (continued)
(b) Interest Rate Risk
The economic entity’s exposure to interest rate risk, which is the risk that a financial instrument’s value will fluctuate as a result of changes in market
interest rates and the effective weighted average interest rates on those financial assets and financial liabilities, is as follows:
i.
Weighted Average
Non Interest
Interest
Rate
Bearing
31 May 2007
%
$
Financial Assets
Bank accounts
Nil
336,500
Trade receivables
N/A
94,398
Total financial assets
430,898
Financial Liabilities
Trade accounts payable
N/A
Bank overdraft
9.45%
Business loan
8.12%
Commercial bills
7.03%
Lease liabilities
7.95%
Total financial liabilities
Net financial liabilities
ii.
Weighted Average
Interest Rate
%
570,029
-
-
-
-
570,029
139,131
Non Interest
Bearing
$
31 May 2006
$
Fixed Interest
Rate Maturing
within
within
1 year 1-5 years
$
$
-
-
-
-
-
-
398,553
6,873
405,426
405,426
-
-
-
Floating Interest
Rate
TOTAL
$
$
78,408
-
78,408
414,908
94,398
509,306
-
-
-
-
-
385,000
-
-
9,393
-
9,393
9,393
306,592
570,029
-
385,000
398,553
16,266
1,369,848
860,542
Fixed Interest
Rate Maturing
within
within
1 year 1-5 years
$
$
Floating Interest
Rate
$
TOTAL
$
$
$
%
Financial Assets
Bank accounts
nil
Trade receivables
N/A
Total financial assets
208,000
78,057
286,057
-
-
-
-
-
-
1,092
-
1,092
209,092
78,057
287,149
Financial Liabilities
Trade accounts payable
N/A
Bank overdraft
8.45%
Commercial bills
6.18%
Lease liabilities
7.95%
Total financial liabilities
Net financial liabilities
363,337
-
-
-
363,337
77,280
-
-
400,000
6,349
406,349
406,349
-
-
-
16,267
16,267
16,267
-
115,802
-
-
115,802
114,710
363,337
115,802
400,000
22,616
901,755
614,606
35
Note 19: Financial instruments (continued)
(c) Net Fair Values
Methods and assumptions used in determining net fair value.
The net fair values of financial assets and financial liabilities approximate their carrying value. No financial assets and financial liabilities are readily
traded on organised markets in standardised form. Financial assets where the carrying amount exceeds net fair values have not been written down
as the economic entity intends to hold these assets to maturity.
The aggregate net fair values and carrying amounts of financial assets and financial liabilities are disclosed in the statement of financial position and
in the notes to the financial statements.
Note 20: Joint ventures
CYC Ramp Pty Ltd, as trustee for the CYC Ramp Trust, held a 75% interest in a development project joint venture at 31 May 2006. On 30 June 2006, the
joint venture was dissolved by agreement. In circumstances where the CYC Ramp Trust shall, before 30 June 2010, propose to develop the land the subject
of the dissolved joint venture arrangement, it has been agreed as a term of the dissolution that the interest of the joint venture partner be taken into
account. There are currently no plans to develop the subject land.
The controlled entity’s share of assets employed in the joint venture are as follows:
2007
$
2006
$
Current assets
Cash
Receivables
Total current assets
-
-
-
1,092
0
1,092
Non-current assets
Lot 223
Development costs
Provision for write-off of development costs
Total non-current assets
-
-
-
-
43,755
43,755
Current liabilities
Loan from Joint Venture Partner
-
(2,965)
Total share of assets employed
-
41,882
The economic entity’s share of revenue and expenses are
as follows:
Revenue
Expenses
-
39
208
36
Note 21: Hire purchase agreement
The Minister of Transport has leased the Port Vincent Marina Basin to
the District Council of Yorke Peninsula for a term of 99 years from 1 May
2003. The Council has agreed to under lease that portion of the marina
basin 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 on 1 May 2003. CYC (SA) Management Pty Ltd
will under lease the area it is leasing to the Cruising Yacht Club of South
Australia Inc. (the “Club”) for the same nominal rental 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 pursuant to which each hire instalment
has been paid when the Club sells a licence to occupy a berth to a Club
member and CYC (SA) Management Pty Ltd issues units in CYC (SA)
Unit Trust to a value, which in the aggregate, equals the hire instalment
amount. The expected final value of the commitment outstanding at 31
May 2007 is expected to be approximately $4,484,500 (2006: $904,000).
Note 22: 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: Key management personnel
compensation
Key Management Personnel
The table below summarises in aggregate the remuneration of all senior
management personnel of the Cruising Yacht Club of South Australia Inc.
Salary
$
2007 2006
102,110
81,510
Superannuation
contributions
$
9,190
7,336
Non-cash
benefits
$
Total
4,335
3,120
115,635
91,966
$
Note 24: Association details
The registered office of both CYC (SA) Management Pty Ltd and CYC
Ramp Pty Ltd associated companies is:
Cruising Yacht Club of South Australia Inc.,
Lady Gowrie Drive
NORTH HAVEN SA 5018
The principal place of business is:
Cruising Yacht Club of South Australia Inc.,
Lady Gowrie Drive
NORTH HAVEN SA 5018
37
CYC (SA) Management Pty Limited
as Trustee for CYC (SA) Unit Trust and Associated Entities
Statement by Trustees and Committee
In accordance with a resolution of the directors of CYC (SA) Management Pty Ltd as trustee for the CYC (SA) Unit Trust, CYC Ramp Pty Ltd as trustee for
the CYC Ramp Trust and the committee of the Cruising Yacht Club of SA Inc. in the opinion of the directors and committee:
(a) the accompanying financial report of the economic entity comprising the Trust and its associated entities presents fairly CYC (SA) Unit Trust and
Associated Entities’ financial position as at 31 May 2007 and its performance for the year ended on that date in accordance with Australian
Accounting Standards, mandatory professional reporting requirements and other authoritative pronouncements of the Australian Accounting
Standards Board.
(b) at the date of this statement, there are reasonable grounds to believe that the economic entity will be able to pay its debts as and when they fall due.
This declaration is made in accordance with a resolution of the Boards of Directors of the trustee companies and the Committee of the Cruising Yacht
Club of SA Inc.
President
Director- Cruising Yacht Club of SA Inc.
- CYC (SA) Management Pty Ltd
- CYC Ramp Pty Ltd
Treasurer
Director- Cruising Yacht Club of SA Inc.
- CYC (SA) Management Pty Ltd
- CYC Ramp Pty Ltd
Signed this 7th day of August 2007.
38
Detailed Statement of Income and Expenditure
2007
2006
$
$
Income
Commission – resold berths
284,883
82,208
Commission – leased berths
49,148
36,741
Entrance fees
12,915
11,200
Hardstanding maintenance
127,173
124,972
Hire of equipment
9,250
8,130
Hull identification numbers
2,547
1,481
Income – Racing Association
120,759
67,168
Income (net) – Other Associations
12,063
12,519
Interest
5,923
18,551
Maintenance fees
472,755
438,491
Net trading margin – catering, bar & resale
20,506
21,851
Other income
18,353 6,701
Profit on sale of assets
-
1,404
Profit on sale of berths
-
4,700
Profit on dissolution of joint venture
19,333
-
Ramp income
90,035
88,587
Slipway
55,245
48,286
Subscriptions
434,969
433,516
Total income
1,735,857
1,406,506
Expenditure
Advertising
7,808
9,384
Audit
25,118
9,000
Accounting and associated fees
15,707
8,250
Amortisation
6,560
6,560
Bank charges
8,617
12,474
Bad debts written off
1,300
-
Cleaning
13,189
12,632
Computing
24,335
20,875
Consultants fees 4,790
8,552
Depreciation
123,486
121,093
Fees and permits
5,263
3,485
Functions
9,403
17,655
General expenses
26,829
22,071
Insurance
88,368
79,004
Interest
18,574
27,900
Interest – leased assets
1,570
2,054
Land tax
72,932
36,234
Landscape maintenance
10,879
9,749
Lease rental
17,598
17,598
Legal fees
14,540
19,531
Long service leave
12,951
212
Loss on sale of assets
7,506
-
Marina – repairs and maintenance
62,648
98,245
39
Detailed Statement of Income and Expenditure
2007
2006
$
$
Expenditure continued
Motor vehicle expenses
15,233
9,450
Payroll tax
20,059
15,229
Power and light
44,037
42,699
Postage
18,839
15,015
Pt Vincent expenses
4,630
3,494
Printing and stationery
25,927
20,768
Racing Association expenses
94,669
74,660
Rates and taxes
63,817
76,310
Repairs and maintenance
74,995
87,211
Rubbish removal
10,006
13,252
Salaries and wages
440,547
373,067
Security costs
10,448
8,789
Staff training
3,322
4,453
Staff recruitment
4,702
730
Subscriptions
3,191
4,171
Superannuation
90,408
76,224
Telephone
13,773
14,295
Toiletries
12,947
11,601
Uniforms
10,029
4,383
Total expenditure
1,541,550
1,398,359
Operating surplus for the year
194,307
8,147
Hospitality
21,803
19,833
Resale
(1,297)
(2,018)
20,506
21,851
Gross trading margins comprise the following:
40
Name of Vessel
Reg. No.
Sail No.
Owner(s)
Berth No.
2002 Challenger Roger Hall 5 Mike Tango EW99S Keith McLeod H043
Ab Fab
YC586S Don & Anne Fuller E13
Aces And Eights TF135S YC586 H111
Mervyn Chesson Acrux Skip Tonkin AM Adamas YC216S Christopher Newton Adinda
JR771N
Stephen Pearson C08
Adrenalin EE178S Adriano Cisternino H109
Adria YC930S YC930 Claude Marchesi A24
Akt II
YC191S YC191 Jack Didyk Ali Tap Tap CZ154S Allegro H002
John McFarlane Stan Benjamin F08
Allegro
KM140S
141
Mal Kamenjarin H044
Allemanda SA270S 170 William Harniman B33
Alliance YC394S YC39 Edward Hallion, James Hallion,
Bevan Thompson, Linda Hart D20
Alpha Centauri
YC258
F800
Roger Flint
D33
Amarante YC229S 228 Richard Dix H021
Ambush
YC318S
18
Ralph E Phillips
Andante Geoff Gowing, Tess McGrath
B04
Andiamo YC208S Peter Fairbrother C18
Angus 100 ABY892N Andrew Figtree Anna-Bella YM07S Renzo Bonini H015
Annadora 3
ER186S
Lester Cornall
A37
Anouk SI168S Ashley O’Brien A05
Aquila YC241S
Mark Johns A18
Ar Elle
GR127S
2
Peter Middleton
A13
RZ91S Kevin McCann H056
Arcadia Bay YC241 Aremiti
AED174N
Ben Wilson B22
Argo III HE40S Trevor Kipling H082
Aries YC341S Armed And Dangerous YC86 YC341 David Coats AUS126S Peter Freeman Arra Warra II YC527S As Good As It Gets YC846S 5846 Aussie Battler
Avilion III VW195S
3186
H030
Warwick Lumbers Richard Fidock AO D01
Peter Teakle
Darren Slaby
VB36
B Free Romeo Macolino Backward Glance Bill Coutts Bad Company QY54S Bob Westlake F14
Balamara SA155S 155 Marjorie Smoker
B08
Baloo RF160S 6203 John Grevins A03
Bandit
SK100S
Peter Nacevicius H075
Banjo YC71S
Wil Maybury Baron YC45S Gil Calaby Bedouin YC691 Greg Patten B36
Beluga 511S 5111 Graham Phillips E19
Benedetto YC405S YC405S Clive Lee E20
Betty Boop RH110S AUS46 Gary Thompson H009
YC06
H123
B23
Bilbo Baggins David Gronow Billbuster YC116S Martin Cross Birddog ST156S David McMahon A02
Black Label
YC282S
Michael Schmidt
C29
41
Name of Vessel
Reg. No.
Sail No.
Owner(s)
Berth No.
Black Swan EC166S Trevor Raines E33
Blackjack
FH158S
Ian Mart
H099
Blondie Two Julian Kent Blue Jay David Bainbridge H004
Bluewater
Michelle Arbon H039
Bluewater Humphrey George Bolero SA995S Ian Neville A12
Bonny June WP152S
Neville Wills D13
Bosanova
YC275S
Bill Slipper Brewmaster YC87S PB1315 Brigadoon AUS22 YC995 John Wilson F16
100 Geoff Wiggins, Louise Wiggins
D03
H073
Bula QY198S 09 Peter Boon Bushranger YC666S YC666 Peter Boyd C-Charmer
Charlie Tomeo A43-A44
Cabaret Alan Cotton B06
SA99S Capella Star Neville Slee Carioca YC762S YC762 Craig Hutton, Beth Hutton
F19
Cat’s Paw YC249S YC249 James Ford E05
Catriona YC01S YC1234 Diane Kinnaird, Malcolm Kinnaird AO B02
Cava!
4683
Dominic Crosby
F06
Celebrity YC540 Challenger Richard Pope B24
LV151S Keith Degenhardt C23
Champ
YC545S
Tom Tymons
C32
Champagne IAE887N Ken Kingshott A07
Chardonnay EE735 Patricia Alexander, Andrew Alexander
C19
Charlie Brown KX120S Henry Brown Cloud IX Andrew Corletto E04
Committed JQ198S Tim Hearse D38
Compass Rose CG191S Ian Short Compulsion JM88S Peter Schembri D34
Brian Walsh H008
E09
Cookie Monster YC651 AUS132 Coroona YC427S Chris Wood Cougar Cat
YC02S
Cruising Yacht Club Of SA
Crackerjack QK109S Peter Thompson, Pat Thompson
Cygnet YC285 Mark Flanagan C01
Damp Fantasy Len Easther Daystar YC118S Ron Parker Delphis YC280S Mark Robertson Delta Blue
VR188S
Dave Sylvester
Double Cross
YC520S
John Nicholls
Doyen
YC660S
Malcolm Kitto
B34
Dr Feelgood YC550S Wayne Coonan H107
Driftwood ll YC443S Bryan Mellors F01
East Of The Lizard James Cameron VB28
El Cid YC303S Ralph Stockman Elandra 2 YC296S Dave Hammond A20
Elation SP105S Robert Becker H149
Electra YC62S YC62 Malcolm Pearsons H103
Elysium YC528S YC528 Jim Heyen F35
Enigma YC410S Edward Sain C30
Erkonda HV123S Eric Webb A31
Escapade SA27S David Morris A15
YC118 5502 YC303 SA27 Cruising Yacht Club of South Australia Annual Report for 2005/2006
42
H052
Name of Vessel
Reg. No.
Sail No.
Owner(s)
Berth No.
Escapade
YC597S
YC5975
Richard Parkes H037
Esprit YC234 YC234 Don Burrow E02
Exile YC237S YC46
Nic George B11
Exit West Of Semaphore YC67S YC67 Mark McCutcheon H040
Family Rulz
VC129S
Jamie Grant
C11
Fireball YC407S 8800 William Strangways, Bardy McFarlane
E11
Firecracker PL101S YC1212 Alex Hayter H031
Flamingo KW108S YC108 David Evans F21
Foolish Behaviour
QB165S
AUS188
Rod Wenham
H006
Force Majeure YC320S Angus Middleton Foxy YC240S Derek Morrison Free Spirit JL367Q Geoff Sincock H081
Freedom Blue YC100S Patrick Conroy F22
Freelance YC573S YC573 Dean Stevens French Bred YC470S 470 Peter French F36
AUS205 Alyn Stevenson, Pete Stevens
H005
Fun 2 YC240 G Wizz YC690S YC690 Greg Patten, Carol Patten B29
Galatea PA292S 292 Alan Husdell F26
Game Dancer GF11S Ray Brown E17
Game Over YC245S Julian Newton
H094
Gas Bag SM34S Bronte Allen Genovus YC421
Peter Newmarch B32
Geordie Bay YC107S Rowland Richardson, Glenyss Richardson F28
George Lisk II LB02S Ray Evans Georgina YC05S John Gerard B01
Gin Rummy 852424 Ian McBeath A41
Gladiator YC448
YC245 YC107 R14 Jim Smyth C34
Gone With The Wind 60
David Smith H038
Good Company AUS127 Robin Townsend H035
Good Vibrations YC203S Barrie Willoughby D35
Group Therapy JI178S
Rick Hausler, Glenda Hausler
E32
Gunna’s Gem WO53S
Bill Gregory H053
Gypsy Flyer YC808S Geoff Harris Hang Loose YC339S C/- Estate of Malcolm Maslen Hannah Georgia MS120S Frank Agostino Harbinger David Southwell H121
Harmony YC945S John Pannell H112
Hawk TC580S Joe Walker Haywire GR240S Ken Schilling Hobo TK150S Graeme Bignell Hold The Pickles
YC32 C36
Mark Roberts
H025
YC415S
Michael Banger
E14
Hot Mustard FA83S Marty Heffernan, Jacq Heffernan
C13
Idle Time
827777
Ron Stennett Honoroy Lass
7020
H016
YC22 Impulse YC27S Peter Sawczuk A11
Impulsive EV106S YC27 Ray Dowd H029
Indra YC09S Ivan Godfrey C05
Inel SA254S SA254 Max Kuckhahn F32
Intrigue YC593S YC593 Geoff Common, Sylvia Common D05
Isis SA63S SA63 Jonathan Harry D22
Isis Blue YC888S Tim Marsh F24
Islander GF08S Graham Cotton 43
Name of Vessel
Reg. No.
Sail No.
Owner(s)
Berth No.
Isobar GF385S Norfried Tischendorf C40
Ivory Lady YC499S Robin Wood D40
Jack Crackle And Pop DS111S
Ray Evans, Craig Evans, Jack Evans Jadashaye YC996S Russell Bianco Jai Cee GF101S John Werner Jenny Maree YC235S YC235S Howard Murton Jeux De Guerre
VO188S
YC222
David Urry B19
Judy Ann NA07S John Stevens A10
A04
Jumbuk Mark Mussared
Jumping Jack Flash Bill Coutts H065
Jumping Jack Flash Peter Stevens, Robert Stevens E08
Jupiter Kevin Hill D11
Gary Williams D08
Kaizen Michael McGlinchey H027
Kashmir Greg Yeomans YC294S YC294 Just Rewards YC304S Kassan Carol Drummond D37
Keep’N Kool Bob Turco D16
Kelly Blue
Cruising Yacht Club Of SA - J24 AUS106
AUS106
Kena Nick Perdelis
Kettwig YC247S Klaus Becker C24
Kiama NL94S Stuart Marshall, John Marshall B05
Kinetic Energy YC360S YC360 Andy Shipp, Les Smith E28
King Rat YC631S YC136 Dave Bainbridge H132
Kiwa SA210S YC210 Lloyd Sugars D30
Kozmic Pigmee EN169S 111 Kym Weeding Kudos YC393S YC393 Vlad Humeniuk, Pam Humeniuk D14
Kudu YC351S YC351 Robert Cole A35
La Ragazza NE78S John Heinrich Lady Caroline AG89S Bruce Fletcher C39
Lady Christine DZ132S Simon Giessauf E22
Lady J KW148S Sir Eric Neal AC CVO and Lady Neal AM A47
Ken Andrews H125
Lamb Chop Charlie Nott
E06
Lark 2 Robert Jones H033
Lady Lorraine YC78 Laser Michael Elliott Legal Limit YZ52S Alan Moon H013
Liberator Australis YC717S Geoff Catt D25
Licence to Chill YC907
David McDonough C25
YC717 Lifestyle Glenn Spear Liquid Assets YC555S Graham Meyers Lisi SB4935 Bruce Whittem Peter Hall, Wayne Rowe YC295 D24
Locomotion YC295S Lorre Ann RA153S Rick Zuckerman Madale TG192S David Donovan H091
Magic JQ85S Howard Morris F29
Maid Of Wood LQ87S Alan Moss H046
Mania GZ130S Eugene Maroulis
John Braendler YC034 A32
Marandi II TS134S Marina Tide AY155S George Smith VA09
Marlen LG09S Scott Bates H124
Marnico YC61S YC61 Gay Footer, Graeme Footer
B12
Matador YC121S YC121 Jack Nealy, Isabel Nealy
E24
44
Name of Vessel
Reg. No.
Sail No.
Matilda Bay II YC403S Maximus
SA607S
Frank Bamford Medosa
1509216
Brian Smith F37
Merlin KO179S Simon Gerard
B03
Metapassion 854479 George Rutar C38
Midnight Blue YC168S Leon Cowley A34
Migaloo
VT107S
Phil Hastie
A40
Milou YC572S YC 572 John Sibly, Fran Semmler
D10
Minnon YC336 3600 Joe Mezzini E29
Minouche YC128S YC128 Alan Warnes A16
Miros YC08S YC88 Michael Sigston Miss Jane YC512S YC512S John Phelan Miss Lou ST146S Tony Norman
YC03 YC555
Berth No.
Terry Nicholas D07
Miss Saigon YC190S Kerry Lampard A09
Moonfleet UB119S John Newson C27
Moonlight Lady II YC900S Denis Tuck A39
Moonlight Sonata TS05S YC15 John Swift H079
Moonwind HN85S YC05 Dean Adams H096
Morning Mischief II JI133S Richard Cavill B10
Mukara QE182S David Davidson F10
Mulloka II YC780S Tony Causley Mult-E-Biz
VL185S
Murray Pest
KH140S
Peter Scott
H051
Namche
VN156S
David Henderson
C28
Nefertiti YC513S Peter Thomson C33
Nine Lives YC567S Trevor Paynter, Jenni Paynter
D15
Trevor Conyers H007
No Eye Deer YC190 Owner(s)
YC780 AUS66
Theo Agelis, Heather Agelis
C35
Ocean Sunrise C/- David Nelson, Pembroke School Oki PH104S Phillip Richards Ophelia IV YC164S Robert Gerard
Osprey QT98S Errol Ford, Deanna Ford
B25
Osprey BA105S Laurie Steele H074
Out of Nowhere VG142S
YC142 Malcolm Hutton A30
1250 John Wood Jnr
Outrageous Fortune YC36 E23
Outrider
NG41S
Ken Flint
H080
Outside Chance DV114S Chris Butcher D23
Overdraught II YC06S Tony Matthews E25
Pago V ID119S
Kerry Mangos H136
Panache
YC158S
Terry Denham Panache
YC678S
YC678
Greg Johansen Pandora II 355918 618 Graeme Critchley
Parfidia YC844S Patrice III YC270S YC270 Garry Tucker
D32
Pax YC219S YC219 Michael Schilling, Ann-Maree O’Connor F34
Peggy Sue NV136S Michael O’Reilly F18
Pepa KZ77S Peter Japp Phantom EV159S YC105 YC158
YC250 C26
Richard Ockenden Ken Amos, Paul Yarwood B26
Pineapple Poll Peter Went D26
Playmate ME46S Neil Toseland H085
Playstation
IBB486N
Keith Degenhardt
E27
Port N Coffee III YC980S YC980 Stewart Ross H089
Port Dock Ginja
YC334 YC333 Christopher Tillett, David Tillett, John Cowled H102
M127 45
Name of Vessel
Reg. No.
Sail No.
Portia SY424 David Murray C21
Power Play YC 103S Edi Mignone E01
Praha EV145S John Rynes Prime Time YC23S Rod Rebbeck Prisana II DQ149S Jeff Elsegood 230 8006 226 Owner(s)
Berth No.
Public Enemy Steven Marshall H098
PV Southern Ranger PIRSA Fishwatch A50
Questa E’La Vita Karl Strazdins E10
Quo Vadis 10145
Ian Collins A22
Rafantel Mark Lethbridge D28
Rager 560 Gary Shanks, Elspeth Shanks B14
B60 560S Ranger David Binks E21
PF101S Gary Donnini F12
Rayanna
Ray Baddeley B16
Reality MI195S Ron Shephard H130
Refresh YC575S Barry Paterson H076
Regent Sea AQ149S Peter Vandepeer H104
Rhapsody YK47S Rodolfo Gomez C31
Riot III YC31S YC31S Antony Simpson Riptide IS36S YC59 Greg Otto Rockholme AP119S Raven Ruffian F03
Brooke McLeay YC905 Brian Horley A42
S-Cape YC134S John Bates, Ruth Bates D09
Sachan
YC442S
Owen & Delia Mace C22
Sagittaire YC435S 4350 Clifton Collard C20
YC6785 Hans Hol C06
Sail-La-Vie Salt Shaker
YC553S
Michael Moller
F11
Sam YC188S Chris Pratt H018
Sandcastle YC305S Mark Hentschke, Carole Hentschke
D17
Santana YC316S YC316 David Partington F05
Santana II YC157S YC157 Keith Finch A48
Santana III SA15 Ivan Samarzia B31
Sapphire YC183 YC183S
YC888 Daniel Hains D12
Saracen Terry Gilmore B18
Sari Tom Crabb YC510S
AUS125 Sasha YC173S YC173 Robert Elliott, Ute Elliott Say No More BA149S YC49 William Moran, Alan Blakers Scallywag YC84S YC84 D04
Tom McDougall F23
Scarab Bob Fisher
A23
Scarlett S
PL483Q
Paul Goodman
E12
Scorpio YC271S Garry Tucker Scorpion
NB587Q John Adams
B17
Sculptor PX149S YC3800 Michael Keough C14
6899 Barry Barber Sea Dancer Sea Dream TN115S Peter John VC50
Sea Dragon HW168S John Holland F27
Sea Eagle TZ36S Michael Carson, John Carson
A49
Sea La Vie YC114S Ernst Vreugdenburg A48
Sea Nymph
YC71S
Kym Neaylon
F09
Sea Vixen QX198S Alistair Cavill H092
YC06
Sea-Ya 64 John Braendler Seasprint YC409 Philip Tregenza YC409S Cruising Yacht Club of South Australia Annual Report for 2006/2007
46
Name of Vessel
Reg. No.
Sail No.
Secret Mens Business SA533S SA3300 Geoff Boettcher B13
Seduction YC338S YC038 Mark Williams, Marilyn Kopp D18
Selene YC92S YC92 Graham Patterson H087
Selkie YC386S YC386 Chris Morphett F07
Sequana NZ192S Malcolm Ramsay Serenade YC445
Greg Jaunay Serene BP13S Ray McPherson C02
Serenity YC540S YC540 Peter Page, Barbara Page B07
YC40
Phillipe Jaquillard YC445S Owner(s)
Berth No.
Serenity MW195S
Short Circuit
VG171S
Peter Jordan
C17
Silenus SA273S Herman Mayr, Meredith Mayr A26
Silver Cloud YC388S Steve Standen E16
Silver Dolphin YC700S Ian Williams A06
YC388 Silvia Bogdan Kazimierczak
Sir Les VU163S Ian Patterson Smack-L-Bee IV GN162S Paul Crawford David Catherwood 2791 D27
Solarno PZ76S Sole Trader LQ142S Ross Almond Soleardo AT17S PA302 Mark Evans F15
Solitaire YC248S YC248 Graham Norman, Denis Buchan A33
C37
Sooner Or Later IF31S YC171 Guy Bayly Southern Conway YC401S YC601 Stuart Henry Spartacus YC38S YC35 Peter Trembath Spectrum UW42S SA42 Thomas Abbott H017
Speeding Ticket
WG104S
421
David Brunt
D29
Steeletto
VK121S
Ian Gregory
A21
Stephanie YC184S Roy Wells
B15
Stockcar RU188S Dave Hughes H045
AUS144 H062
Stormy Waters Michael Davey Stunned Mullet SA323S David Morris H097
Such Is Life TT189S AUS111 Dave Nicolson H095
Sugar’N’Spice QG100S 5836 Robert Perrin E18
E15
Sundog VM187S YC401
Phillip Hackett T&T YC209S YC209 Trevor Barker YC187 Tamariki YC187S Barry Jackson
B35
Tangaroa SA284S Jim Raptis B28
Tanqueray PZ174S 5526 Sam Tolley C16
Tanshee UV80S YC280 John Simmons Tarita 1140108 S106S Roger Vincent Taruna III 7513Q Tearaway YC0381 A14
Rod Detmold Geoff Kneebone Teradita
SA388S
Gary Sinton
H147
That’s Life YC447S YC447 Greg Manuel B30
The Ghost Of Xmas Past YC192S YC192 David Ketteridge, Michael Ketteridge The Office YC508S Adam Laube A08
The Tern YC789S David Flockhart A36
Third Time Lucky SS156S Andrew McMahon Thresher GF111S George Flourentzou OAM
Tibia YC556S Bill Lunn D06
Timbuktoo QK140S Tim Vreeker H110
Time Warp ON589Q4 38 Gerald Valk Tirriki SA40S SA40 Chappy Charlesworth SA56 47
B09
Name of Vessel
Reg. No.
Sail No.
Top Deck YC244S Top End SA85S Owner(s)
Berth No.
Thomas Muecke Rob Clampett B20
Trammeltoo Mel Dalton H083
Transtar GU112S Paul Doyle, Linda Doyle
Trinacria YC149S Rod Hunter E27
Triple H SG176S Henry Petersen H069
Trivia NB169S Paul Entwistle True Blew HK591Q2 Patrick Conroy F20
True North YC974S Andrew Saies D02
YC1751 YC5974 Ubique Garry Golding Ultimo CB111S 39 Chris Edwards H141
Unity YC99S YC99 Rob Norton D21
Vagabond Hillar Puvi C41
Vagrant NT19S Richard Smart B21
Vasa YC11S YC11 Al Eke C04
Venus YC777S YC777 Guy Maron AM, Larri Maron Vertigo
James Goode Viva Andrew Carney MD195S SA525 H093
War & Peace 1382296 SA305S Ezio Marcel, Stefan Marcel F17
Warrior YC88S YC88 Gary Bunn H023
Water Rat ZR73S Wally Rantanen Watersedge YC723S YC2300 Graham Patterson, Julie Patterson
A19
Waterwitch III YC117S YC117 Patricia Fuller, Frederick Fuller F25
YC179 Cliff Presly F04
H019
Wedge Tail Weemac IY125S Walter McDonald White Knight IF138S David Knights 8029 White Pointer
Hans Fischer
White Rose Don Cameron Whittley Sea Legend
Wayne Trott
Wild Honey WH33S David O’Leary Winchester YC68S Greg Drummond Wind Torque VI23S Gordon Penner BC33 YC123 Wings Albin Richtsteiger Yareva IV RW19S Graham Averay Yarramara YC263C Bruce McFarlane Yarrandoo YC255S Terry Lockwood Yorke VR39S Robert Sprod Young Einstein YC880S Rob Moore, Rob Sellick, Peter Smith
YC3394 A131 YC880 A45
F30
D19
E26
H143
The following vessels have no name or other details provided.
No Name
John Daniels, John Gerard, Vic Negruk, Frank Woolford, Kim Byars, John
Monaghan, Erwin Vuzem, Daniel Monaghan, Jeffrey McHugh, Wayne
Allen, Simon Dwyer, George Fyfe, Paul Vogt, Robert Peach, Ric Gros, Brett
McBeath, Michael Smith, Slakvo Radisic, Richard Young, Robbie Robinson,
Michael Samaras, Tony Spriggins, Dominic Crosby, Adam Robinson,
Anthony Smith, John McArdle, Tim Cowen, Bradley Askwith, Wayne
Palmer, Mark Mroz, Bert Van Den Berg, Brian Marsh, Peter Woods, Vern
Stoeff, Bill Baker, Con Koulouris, Tony Scali
48
Club Sponsors
The CYCSA thanks its major sponsors for their support during 2006/2007:
Phil Hoffmann Travel Musto
Audi
Mistral
Penfolds
Yalumba
Port River Marine Services
Mariner Boating Holidays Fleurieu Fresh
Pipetech Pty Ltd
Cummins
Harmony Investments
Cover photograph: Tom Tymons
Back cover: Trevor Paynter, Kay Tidswell
Inside front cover: Trevor Paynter
Inside back cover: Gerry Colella
Inside: various contributors

ANNUAL RepORT - Cruising Yacht Club of South Australia

Transcription

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