2012 Annual report by Glenelg Golf Club

2012 Annual Report

Glenelg Golf Club Incorporated ABN 94 199 789 857

Our Mission

Our Goals

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

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

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

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

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Office Bearers CAPTAIN

Mr Anthony Martin

VICE CAPTAIN

Mr Gavan Fox

PRESIDENT

Mr Geoff Gitsham

VICE PRESIDENTS

Mrs Helen McMutrie

Mr John Rawson

COMMITTEE OF MANAGEMENT

Mr Paul Duregon

Mr Brett Jarrad

Mr Sam Koukourou

Mrs Kay Nyland

Mr Gerry O’Brien

Mr Bevan Roberts

GENERAL MANAGER

Mr David Brand

Committee Attendance Jim Johnson (term completed 28th March 2012)*

Anthony Martin

Gavan Fox

Paul Duregon

Brett Jarrad

Sam Koukourou (re-elected 28th March 2012)

Kay Nyland

Gerry Oâ&#x20AC;&#x2122;Brien

Bevan Roberts (elected 28th March 2012)

* The outgoing Captain is permitted to attend Committee of Management meetings in an ex-officio capacity, for a period of 12 months.

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Membership Status Membership numbers as at 31st December 2012

Category

Male

Female

2012

2011

2010

2009

2008

2007

Life

Full

550

609

639

725

713

676

663

Full Paid

Company

123

177

208

201

272

326

315

Intermediate

Six Day

101

163

158

156

140

Country

Temporary

Corporate

Honorary

Non Playing

Social

114

120

Honorary Social

PGA Member

Try Golf

Casual

TOTAL

1,203

283

1,486

1,542

1,577

1,546

1,506

1,497

Provisional

Weekday Veteran Junior Junior Country

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Performances of Note State Team Selections Women’s State Squad - Elysia Yap & Amy Zhou Girls’ State Squad - Christine Beasley, Elysia Yap & Amy Zhou Boys’ State Squad (2012 Interstate Series Winners) - Lachlan Booth Golf SA High Performance Talent Identification Squad - Amy Zhou, Matilda Wheare, Elysia Yap, Jenny Lee, Lachlan Booth, William Starkey, Haydn Booth & Sam Raschella. Cudmore Cheney Challenge Squad - Matilda Wheare Victoria vs South Australia Border Challenge - Lachlan Booth, Sam Raschella & Mitch Taht

Amateur Events SA Women’s Country Championship - Deb Christie Nora Maskell Trophy - Patricia Whelan & Marie O’Halloran Business Women’s Championship - Sarah Griffiths Women’s Champion of Champions - Jill Hodge Jacobs Creek Golf Classic - Lachlan Booth Golf SA State Women’s Foursomes Championship - Jenny Lee & Elysia Yap Golf SA Boys’ Junior Open - Lachlan Booth Golf SA Girls’ Junior Masters - Jenny Lee Golf SA Girls’ Junior Amateur Championship - Jenny Lee Jack Newton Junior International State Qualifying - Jenny Lee Glenelg Women’s Vardon - Amy Zhou Kooyonga Women’s Vardon - Jenny Lee Grange Women’s Vardon - Jenny Lee Mt Osmond Women’s Vardon - Jenny Lee

Women’s Grade 1 Pennant Winners Anne Marks (Team Manager), Christine Beasley, Jenny Lee, Sophie James, Jill Hodge, Elysia Yap & Amy Zhou

Women’s Grade 2 Pennant Winners Heather Waddy (Team Manager), Ros Osborn (Assistant Manager) Jess Burns, Sarah Griffiths, Cathy Johnson, Sue Tuohy, Matilda Wheare, Jayne Staridas, Anne Marks, Ruth Martin, Sue Raggatt & Nuala Oades

Women’s Cleek Stick Runners Up Jeanne Scardigno (Team Manager), Sandy Dolman, Wendy Vaughan, Peggy Lau-Flux, Janet Fleer, Cheryl Franzi, Chris Sullivan, Meredith Noble, Ros Henderson & Barbara Heald

Men’s Senior Interclub Champions Deane Harris, Wayne Humphries, Jim Rawson, Michael Dobson, Graham Stone, Barry Robjent, Chris Whitford, Denis Prider, Brian Osborn, David Allen & Peter Campbell

Other achievments Sport SA Coach of the Year Finalist - Gareth Jones South Australian Golf Hall of Fame Inductee - Pauline Sanderson

Holes in One Gavan Fox (January) �� 16th Hole Stephen Dean (March) ��3rd Hole Bryan Turner (March) ��3rd Hole Mark Hofmeyer (May) ��11th Hole Mitch Nash (July) �� 16th Hole Brian Nash (July) �� 16th Hole

James Mattson (August) ��11th Hole Brian Nash (October) ��11th Hole Nancy Bartlett (October) ��11th Hole Peter Wickham (October) ��11th Hole Martin Ardill (December) �� 16th Hole

The winning Glenelg Women’s A1 Pennant Team

The winning Glenelg Women’s A2 Pennant Team

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Club Championship & Trophy Winners Event

Winner

Runner Up

Men’s Club Championship

Matthew McGowan

Campbell Rawson

Women’s Club Championship

Jill Hodge

Sue Tuohy

RF Stevens Trophy

Henry Duregon

Anthony Olsen

Men’s B Grade Championship

William Traljic

Glenn Sterrey

Men’s C Grade Championship

Don Tucker

Brenton Kalz

Women’s B Grade Championship

Annette Rieniets

Peggy Lau-Flux

Women’s C Grade Championship

Cheryl Hunt

Margaret Harris

Men’s A Grade Plate

Toby Koch

Brian Welsh

Men’s B Grade Plate

Jackson Kalz

Troy Perriam

Men’s C Grade Plate

Anton Clovicko

Serge Caplygin

Boys’ Club Championship

Lachlan Booth

Jack Hynes

Girls’ Club Championship

Jenny Lee

Elysia Yap

Men’s Senior Championship

Jim Rawson

Denis Prider

Jimmy McLachlan Trophy

Mitch Nash

Campbell Rawson

Men’s Foursomes Championship

John Noble & Campbell Rawson

Ben Tuohy & Leigh Attenborough

Women’s Foursomes Championship

Jenny Lee & Elysia Yap

Jan Dale-Harris & Lisa Faehrmann

Men’s A Grade Foursomes

Toby Koch & David Scholz

John Noble & Campbell Rawson

Men’s B Grade Foursomes

Joe Charles & Phil Proctor

Andrew Morrison & Scott Franks

Men’s C Grade Foursomes

Bevan Roberts & Patric Alderman

Mike Panno & Rob Arbon

Women’s B Grade Foursomes Championship

Nancy Craigie & Gerry Hall

Barbara Heald & Christine Sullivan

Women’s C Grade Foursomes Championship

Kate Beaty & Jeanne Scardigno

Morreen Barter & Margaret Magarey

Mixed Foursomes Championship

Anthony Olsen & Elysia Yap

Martin Ardill & Jenny Lee

Rhonda Watson Brooch (Gross)

Kooyonga: Lyn McGough, Anne Ewer & Jodie Deacon

Rhonda Watson Brooch (Net)

Mt Osmond: Jenny Butcher, Mieun Jin & Penny Matthews

Brian Ferris Memorial Trophy

Matthew Lisk (Grange)

Brad Moules (Royal Adelaide)

Eric Scovell Trophy

Patrick Kroschel (Royal Adelaide)

Connor Chant (Glenelg)

Women’s Vardon

Amy Zhou (Glenelg)

Christine Beasley (Glenelg)

Owen Whitford Trophy

Jack Hynes & Vicki Hynes (Glenelg)

Will Starkey (Glenelg) & Cassidy Evreniadis (Grange)

Lance Begg Trophy

Bruce & Yvonne Du-Rieu

Brenton & Jackson Kalz

Winter Pinehurst Foursomes Trophy

Gavan & Karin Fox

Jo & Stephen McCarthy

Don Harris Memorial Trophy

James Brown & Cathy Symons

John & Ruth Croall

Tuohy Trophy

Henry & Paul Duregon

Chris & Sophie James

Event

Winner

Event

Winner

Governor’s Cup

Martin Pearson (SA Police)

Glenelg Trophy (Juniors)

Jake Hurst

Senior Cup

Jim Rawson

Boys’ Handicap Matchplay

Liam Kennewell

Anzac Trophy

Michael Pope

Rawson Memorial

David Allen

Captain’s Trophy

Phil Harrison

Don Watson Memorial

Mitchell Smith

President’s Trophy

David Allen & Ralph Faithfull

Frank Collins Memorial

Bryan Turner

Glenelg Trophy

Rob McKeon

AH Smerdon Memorial

Dr Peter Carey

Sam Percival Trophy

Chris Hercock

Steve McKee Memorial

Leigh Tarrant

Milo Sprod Trophy

Bevan Roberts

Summer Cup

Justin Dolman & Simon Connelly

Norm Omond Medals

A: Nick Hromin

Harold Wright Memorial

Ben Magi

B: Brian Nash

Men’s Winter Matchplay

Ben Holmes

C: Serge Caplygin

Brian Bashford Memorial

Paul Greenbank

Women’s Event

Winner

Women’s Event

Winner

President’s Foursomes

Gerry Hall & Sue Raggatt

Shylie Rymill Foursomes

Fran Brown & Vicki Hynes

Captain’s Trophy

Cathy Darling

Consistency Cup

Joy Green

Laurel Wreath

Sue Tuohy

Aggregate Par Trophy

Jean Roberts

International Bowl

Silver: Anne Marks

Veterans’ Handicap

Elise Dignan

Bronze: Di Dansie

Veterans’ Handicap Gross

Anne Marks

Shane Robinson Trophy

Chris James

Veteran’s Handicap Net

Carolyn Shanahan

Club Medal 1

Anne Marks

JM Sims Trophy

A Grade: Sandy Dolman

Club Medal 2

Sue Tuohy

B Grade: Terry Phillis

Club Medal 3

Elysia Yap

C Grade: Judith Holst

Caddy Trophy

Kay Nyland

Past Committee Trophy

Marg Davis

Grandmothers’ Trophy

Chris Croucher

Most Improved Handicap

Kate Beaty

Putting Trophy

Barbara Heald

Jacka Trophy

Jill Hodge

Wallace Stroke

Wendy Greig

Saturday Championship

Jill Hodge

Parfection Prize

Lisa Faehrmann

Ella Cole Trophy

Jenny Lee

Essex Stroke

Silver: Joy Green Bronze: Rita Northcote

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Office Bearers 1927 - 2012 Year

Captain

Vice-Captain

Year

Captain

Vice-Captain

1927 A.J. Roberts

President

S. Jackman

F.G. Hicks

1970 N.E. Bagshaw

President

J.R. Alderman

J.D. Omond

1928 A.J. Roberts

S. Jackman

F.G. Hicks

1971 N.E. Bagshaw

J.R. Alderman

J.D. Omond

1929 A.J. Roberts

S. Jackman

F.G. Hicks

1972 N.E. Bagshaw

J.D. Omond

M.C.E. Summers

1930 A.J. Roberts

S. Jackman

F.G. Hicks

1973 N.E. Bagshaw

J.D. Omond

M.C.E. Summers

1931 A.J. Roberts

F.G. Hicks

John Hill

1974 N.E. Bagshaw

M.C.E. Summers

R.B. Bennett

1932 Not Appointed

F.G. Hicks

John Hill

1975 N.E. Bagshaw

M.C.E. Summers

R.B. Bennett

1933 W. Fisk

John Hill

G. McLeay

1976 F.G. Collins

R.B. Bennett

G.A. Hodgson

1934 W. Fisk

John Hill

G. McLeay

1977 F.G. Collins

R.B. Bennett

G.A. Hodgson

1935 W. Fisk

J.E. Ashton

G. McLeay

1978 F.G. Collins

G.A. Hodgson

H.T. Slade

1936 W. Fisk

J.E. Ashton

G. McLeay

1979 F.G. Collins

G.A. Hodgson

H.T. Slade

1937 W. Fisk

K.C. Crookall

Dr. A.H. Guymer

1980 F.G. Collins

H.T. Slade

B.J. Manser

1938 W. Fisk

Dr. A.H. Guymer

Dr. C.B. Maddern

1981 F.G. Collins

H.T. Slade

B.J. Manser

1939 Frank Smith

Dr. A.H. Guymer

J.E. McKee

1982 F.G. Collins

B.J. Manser

J.E.O. Handford

1940 Frank Smith

J.E. McKee

V.M. Thomas

1983 F.G. Collins

B.J. Manser

J.E.O. Handford

1941 Frank Smith

V.M. Thomas

W.B. Holt

1984 R.B. Bennett

J.E.O. Handford

G.D. Gitsham

1942 Frank Smith

V.M. Thomas

W.B. Holt

1985 R.B. Bennett

J.E.O. Handford

G.D. Gitsham

1943 Frank Smith

V.M. Thomas

W.B. Holt

1986 R.B. Bennett

G.D. Gitsham

A.K. Whitford

1944 Baden Pattinson

V.M. Thomas

W.B. Holt

1987 R.B. Bennett

G.D. Gitsham

A.K. Whitford

1945 Baden Pattinson

W.B. Holt

A.C. Brooke

1988 R.B. Bennett

A.K. Whitford

D.N. Barton

1946 Baden Pattinson

W.B. Holt

A.C. Brooke

1989 R.B. Bennett

A.K. Whitford

D.N. Barton

1947 W. Allen

E.Caradoc Ashton

S.N. McKee

1990 R.B. Bennett

D.N. Barton

J.L. Waddy

1948 H.H. Handby

E.Caradoc Ashton

S.N. McKee

1991 R.B. Bennett

D.N. Barton

J.L. Waddy

1949 H.H. Handby

E.Caradoc Ashton

S.N. McKee

1992 R.B. Bennett

J.L. Waddy

J.R. Giles

1950 C.H. Fidock

S.N. McKee

F.G. Collins

1993 R.B. Bennett

J.L. Waddy

J.R. Giles

1951 C.H. Fidock

S.N. McKee

F.G. Collins

1994 D.N. Barton

J.R. Giles

J.A. Rawson

1952 C.H. Fidock

F.G. Collins

S.D. Harris

1995 D.N. Barton

J.R. Giles

J.A. Rawson

1953 C.W. Anderson

F.G. Collins

S.D. Harris

1996 D.N. Barton

J.A. Rawson

I.P. Symons

1954 C.W. Anderson

S.D. Harris

D.M. Watson

1997 D.N. Barton

J.A. Rawson

I.P. Symons

1955 C.W. Anderson

S.D. Harris

D.M. Watson

1998 D.N. Barton

I.P. Symons

D.M. Lindsay

1956 C.W. Anderson

S.D. Harris

D.M. Watson

1999 J.L. Waddy

I.P. Symons

D.M. Lindsay

1957 C.W. Anderson

D.M. Watson

C.M. Wood

2000 J.L. Waddy

D.M. Lindsay

C.R. Whitford

1958 C.W. Anderson

D.M. Watson

C.M. Wood

2001 J.L. Waddy

D.M. Lindsay

C.R. Whitford

1959 C.W. Anderson

D.M. Watson

C.M. Wood

2002 J.L. Waddy

C.R. Whitford

P.J. Norman

1960 W.J. Parkinson

C.M. Wood

N.E. Bagshaw

2003

C.R. Whitford

P.J. Norman

1961 W.J. Parkinson

C.M. Wood

N.E. Bagshaw

2004 B.J. Manser

P.J. Norman

I.R. Brooks

1962 W.J. Parkinson

N.E. Bagshaw

P.T. Morton

2005 B.J. Manser

P.J. Norman

I.R. Brooks

1963 W.J. Parkinson

N.E. Bagshaw

P.T. Morton

2006 B.J. Manser

I.R. Brooks

P.R. McGrath

1964 N.E. Bagshaw

N.E. Bagshaw

P.T. Morton

2007 B.J. Manser

I.R. Brooks

P.R. McGrath

1965 N.E. Bagshaw

P.T. Morton

J.A. Butler

2008 B.J. Manser

P.R. McGrath

N.J. Johnson

1966 N.E. Bagshaw

P.T. Morton

J.A. Butler

2009 G.D. Gitsham

P.R. McGrath

N.J. Johnson

1967 N.E. Bagshaw

J.A. Butler

J.A. Manning

2010 G.D. Gitsham

N.J. Johnson

A.J. Martin

1968 N.E. Bagshaw

J.A. Butler

J.A. Manning

2011

N.J. Johnson

A.J. Martin

1969 N.E. Bagshaw

J.A. Manning

J.R. Alderman

2012 G.D. Gitsham

A.J. Martin

G.M. Fox

J.L. Waddy

G.D. Gitsham

Committee Members 1927 - 2012 Name

Years

Name

Years

Name

Years

Name

Years

Alderman, J.R.

Gillespie, D.P.

Manning, J.A.

Allen, W.S.

Gillman, J.F.

Manser, B.J.

Ashton, E.C.

Gitsham, G.D.

Marshall, A.K.

Ashton, J.E.

Goldsworthy, J.S.

Martin, A.J.

Skinner, L.P.

Bagshaw, N.E.

Guy, G.R.

Martin, S.G.

Slade, H.T.

Barton, D.N.

Guymer, Dr. A.H.

Mausolf, N.

Stanhope, B.H.

Bennett, R.B.

Handford, J.E.O.

McCarter, L.

Stevens, G.B.

Bishop, W.P.

Harris, S.D.

McCarthy, K.J.

Stevens, R.F.

Briscoe, P.C.A.

Sando, H.H.

Sands, R.G.

Sauerbier, L.C.

3 5 11

Hartford, B.B.

McFarlane, A.

Still, J.A.

Brooke, A.C.

Hendry, J.M.

McFarlane, K.B.

Stone, J.C.

Brooks, I.R.

Hewett, L.P.

McGlasson, A.

Summers, M.C.E.

Brooks, L.A.

Hicks, F.G.

McGrath, P.R.

Symons, I.P.

Burgen, O.T.

Hill, J.

McKee, J.E.

Thomas, V.M.

Butler, J.A.

Hodgson, G.A.

McKee, S.N.

Thompson, G.R.

Campbell, K.S.

Hodgson, J.W.

McLeay, G.

Trabilsie, F.J.

Chamberlain, R.R.

Holt, W.B.

McLuckie, R.

Truscott, R.W.

Chapple, G.B.

Hull, S.C.

McMutrie, H.

Vivian, A.B.

Collins, F.G.

Humphries, W.G.

Merrett, A.F.

Waddy, J.L.

Connelly, P.F.

Jackman, A.J.

Morton, P.T.

Walsh, T.I.

Crookall, K.C.

Jackman, J.W.

Nelson, R.A.

Warburton, C.

Cudmore, D.C.

Jackman, S.

Newton, R.

Watson, D.M.

Jarrad, B.

Norman, P.J.

Watson, E.J.

Johnson, A.C.M.

Nyland, K.

Weston, G.W.

Dale, M.E. Darling, A.E.

Dignan, J.A.

Johnson, N.J.

Oâ&#x20AC;&#x2122;Brien, G.P.

Wheatley, J.A.

Duregon, P.B.

Johnson, W.G.

Omond, J.D.

Whitford, A.K.

Ellers, L.G.

Kenny, J.P.

Palmer, J.S.

Whitford, C.R.

English, R.J.

Kimber, A.W.

Percival, S.T.P.

Wood, C.M.

Ferris, B.T.

Koukourou, S.

Phillips, D.W.

Wood, L.M.

Flehr, B.E.

Lacey, E.H.

Phillips, M.B.

Follett, R.M.

Lewis, F.A.

Foster, G.C.

Lindsay, D.M.

Pritchard, W.A.

Fox, G.M.

Maddern, Dr. C.B.

Rawson, J.A.

Frances, I.K.

Maddern, J.P.

Rawson, K.A.

Freeman, R.E.N.

Mahoney, W.J.

Reade, T.C.

Mallen, L.

Roberts, B.M.

Giles, J.R.

Price, W.D.

Tony Martin

Gavan Fox

Captain

Vice-Captain

Wood, W.C.

Woolcott, E.S.

Wright, H.F.

Young, W.D.

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Tony Martin Club Captain

Captainâ&#x20AC;&#x2122;s Report

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

Course presentation and reputation enhanced Leap in golf rankings to 29 Improved financial performance despite member reductions Food & Beverage improvements in service and financial performance Debt reduction program achieved Member survey completed and actioned Starting system acceptance and quicker rounds achieved Women’s pennant success Heritage Fund launched Quality reciprocal course additions

The Club faced a number of challenges in 2012. Dwindling membership numbers, economic stagnation and the need to turn around a poorly performing Food & Beverage operation were all issues addressed by management during the year. These were not the only issues facing the Club; with increasing utility and maintenance costs, the first full year of ASR wetland operations and the introduction of online booking sheets all tested the patience of members and management. There was some good news in early 2012 with Glenelg rating 29th in Australia in the January edition of Golf Australia Magazine. Glenelg ranked one spot higher than Grange West, and ahead of The Australian, Portsea, The Cut, Joondalup, The National (Ocean Course), Brookwater, Yarra Yarra, Huntingdale, Moonah Links (Open Course) and Royal Canberra. Golf Australia Magazine commented “Adelaide’s Glenelg layout finished just outside the top 50 in 2010 but it jumped 23 places, more than any other course, to find a spot at No. 29.” They went on to say “Glenelg is no longer the poor cousin on the Adelaide Sandbelt. Neil Crafter’s redesign, highlighted by revetted bunkering, has given the course a great unique character”. Glenelg’s ranking in Australian Golf Digest’s Top 100 courses also climbed five positions to 40th, and was listed in the internationally recognised Rolex Top 1000 World Golf Courses with a rating of 80 out of 100, on par with The Grange’s West Course and our reciprocal partners, Huntingdale and The Vines. These results should be seen as another significant improvement for the Club and shows the continued growth in our

reputation and standing within the golfing community. Glenelg hosted the leading amateur golfers from around Australia for the Golf SA Classic and Rene Erichsen 72-hole events in April. Feedback from players and officials further consolidated the Club’s reputation within the golfing community, with many comparing the challenging layout and condition to some of the best courses in Australia. The first full-year of ASR wetland system operations proved challenging, yet fruitful, with more than 200ML of high-quality water injected into the aquifer system. It was not without its issues with early operations causing many of the Club’s old bores to become artesian, resulting in the need for these bores to be capped. In late April, one of our two harvest pumps located at Brownhill Creek failed, resulting in major repairs. In addition to this, bore ASR 2 suffered a minor collapse causing damage to the bore pump and casings, all requiring immediate repair. The opportunity was taken during the repair of ASR 2 to lower the bore pump in readiness for the potential impact on aquifer levels due to SA Water’s biofiltration ASR project which commenced construction in late 2012 on adjacent airport land. SA Water’s project is expected to have minimal impact on the Club’s ASR system. Discussions are continuing with SA Water, Government Departments and local Members of Parliament in an effort to protect the Club’s interests and investment in its ASR wetland system. Ongoing maintenance and repairs to complex infrastructure associated with the ASR wetland system will be an issue requiring careful management by the Club to ensure continued successful operation and minimise operating costs in the future.

During the year, Tourism SA approached Glenelg, Royal Adelaide, Grange and Kooyonga, seeking to implement a partnership aimed at developing an umbrella brand (similar to the “Melbourne Sandbelt”) owned by the four clubs, and used to promote golf tourism in South Australia. Work is continuing with Tourism SA developing the umbrella brand with the aim of launching the first stage of the project in 2013. Following the disappointing results in our Food & Beverage department in 2011, a concerted effort was made in 2012 to turn around the financial performance. Major changes were made to opening hours, staffing levels and pricing to ensure a strong, profitable operation with a focus on quality food and service at times we know are readily supported by members and guests. In August, members completed our first comprehensive Member Satisfaction Survey since 2006. The survey covered all aspects of the Club’s operations and will be implemented annually to track the satisfaction levels of members and to assist in the Club’s strategic planning processes. A number of issues have already been identified through the survey for further action in 2013. The Committee of Management held its first Member Information Session in November and used the opportunity to brief members on the financial performance of the Club for the first half of 2012, present the results from the Member Satisfaction Survey and give members the opportunity to generally enquire into the operations of the Club. Those in attendance were appreciative of the opportunity and welcomed the transparency. These sessions will be continued in the future.

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January Changes to Food & Beverage operations implemented Schweppes contract commences Links Hope Island added as a reciprocal club Mojo Wines Hole-In-One Competition commences Online Booking Sheet authority given to Director of Golf Operations Glenelg rating jumps 23 spots to 29th in Golf Australia Magazine Top 100 Courses Steve Richards resigns as Greenkeeper

February Women’s Try Golf Program commences for 2012 with over 70 participants Over 150 members and guests attend the 2012 Quiz Night New western balcony blinds are installed McGrath Real Estate, SA Safe Supplies, Watermark Glenelg & Titleist sign as sponsors of Pennant Golf at Glenelg Crafter + Mogford Golf Strategies appointed officially by COM as Course Architect

March Mitch Nash wins Jimmy McLachlan Trophy Geoff Gitsham appointed for further 3 years as Club President Jim Johnson’s term as Club Captain concludes, Sam Koukourou and Kay Nyland are re-elected to COM & Bevan Roberts is elected to COM Matt Hickman commences role as Pro Shop Manager Tiger Cubs and Cadet Memberships introduced

April 13th Beach hosts the inaugural Bay vs Beach Trophy between 13th Beach and Glenelg Golf Clubs Junior Tigers Golf Program launched Glenelg hosts Golf SA Amateur Classic and Rene Erichsen Salver 8 new Golf Carts purchased to replace ageing fleet

Finance • • • •

Member revenue challenge Improved F & B result Debt reduction success Redeveloped maintenance facility

Difficult economic conditions and a reduction in membership revenue placed pressure on the Club to deliver its promised debt reduction program in 2012. Despite the challenges, we are pleased to advise that, through careful cost management strategies, significant improvements in Food & Beverage operations and an increase in alternative revenue streams, the Club posted a small operating profit of $16,643 for the year ended 31st December 2012.

affordability for members, also contributed to this reduction. The challenge now is to identify the fine balance between affordability and sustainability moving forward. A total of $299,145 was collected through the Infrastructure Levy, all of which went towards the Club’s debt reduction program. Interest in new membership remained high, with 100 new members joining across all categories, including 29 new Provisional members. Resignations totalled 147 for the year.

Total equity increased to $4,181,987 and the Club’s cash position also increased with $193,400 available as at 31st December 2012.

A significant turnaround in performance by the Food & Beverage team saw a combined profit of $188,009 achieved through bar and catering, compared to $8,946 in 2011. Much of this can be attributed to improved rostering and staff management, and focusing attention on service times we know are readily supported by members and guests. Bar revenue increased 6% over 2011 figures to $867,332 with a 2% increase in Gross Profit, while catering revenue saw a 7% increase to $1,188,643 with gross profit remaining on par with 2011. However, the most significant improvements came through a reduction in wage costs, with bar wage percentages reduced from 48% to 42% and catering reduced by 8% to 48%, contributing to the $179,063 turnaround in combined profit.

Importantly, the Club was able to meet its debt reduction program with a further $300,000 paid off the clubhouse loan, and $121,638 used to reduce operating debt associated with hire purchases and lease agreements. After including additional leases established during the year totalling $62,800, the Club was able to reduce its total debt level by $358,838 to $2,828,987. With debt reduction a priority, capital expenditure costs were kept to a minimum with only $349,383 in payments for Property, Plant and Equipment, compared with $651,963 in the previous year. The redevelopment of the maintenance facility staff amenities building, administration office and workshop comprised one third of capital expenditure in 2012. This work was essential to ensure continued compliance with workplace health and safety and environmental legislative requirements. Work was completed in July with careful consideration given to utilising assets which could be used in any future maintenance shed redevelopment project. Further work and expenditure will be required each year to ensure legislative compliance until such time as the Club is in a position to fund a major redevelopment of the maintenance facility. Membership revenue reduced significantly during 2012 compared to the previous year. A drop in Full Member Equivalent (FME) numbers was primarily responsible for this. Changes in recent years to membership structures, offering increased flexibility and

Measured cost management strategies introduced during the year assisted in reducing total expenditure by almost 6%. This included a 2.6% reduction in course and administration salaries and a 14% reduction in finance and interest costs. Total course expenditure was reduced by 2.4% through careful planning and management which had little impact on the condition and presentation of the course, and this is a credit to our course maintenance team led by Daryl Sellar, Graham Stevens and James McDonald. A sharp increase in utility costs (light, power and water) and ongoing maintenance of the clubhouse saw a 5.7% increase in house expenditure.

A significant turnaround in performance by the Food & Beverage team saw a combined profit of $188,009 achieved through bar and catering, compared to $8,946 in 2011.

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Golf Course • • •

Outstanding course condition Ranked 29 nationally by Golf Australia Magazine Bunker enhancement program success

Our golf course continues to improve every year. With outstanding turf quality, conditioning, presentation and playability is apparent all year round. While turf conditioning remains a priority for our course maintenance staff, attention was directed to a number of refurbishment works during 2012. Following the advice and direction of the Club’s course architect, Crafter + Mogford Golf Strategies, and based on the ongoing Course Enhancement Plan put together by architect Neil Crafter, in association with Bob Tuohy, in 2011, bunker refurbishment works were carried out on holes 3, 4, 6, 9, 11 and 17. Refurbishment work was carefully considered and designed to ensure changes did not impact on the strategic nature of the golf course. Work was aimed at providing some relief and easier access for members and, importantly, reduce sand area and revetted edging to ensure maintenance practices can continue to be as efficient as possible. Results were stunning, with members commenting positively about the refurbishment works. Work on the 11th hole included reducing the size of the carry bunkers and regrading the contours between both bunkers by lowering the existing ridge in the fairway to provide more retention for shorter hitters and reduce deflection of balls to the righthand side. Additional works to upgrade the irrigation loop around the 11th green to provide increased irrigation efficiencies were also carried out. The building of the revetted walls of our bunkers is quite an artform and we are lucky to have course maintenance staff who are well trained and experienced in building these bunkers. The final results can be quite spectacular, and with plans to continue to rationalise the area of sand on course, we will be in a much better position to maintain these bunkers on an ongoing basis. In keeping with recent course work, the path at the 18th tee received a much needed upgrade, with the old path material replaced with a turf path and green matting. Turf is preferred in most areas as it is more efficient to maintain than most materials and integrates well with other

playing surfaces which are usually in close proximity due to our restricted space. Landscaping works were another priority for course staff in 2012. Revegetation work took place across much of the golf course including areas around newly refurbished bunkers, on mounding adjacent to the 1st hole and 2nd green, areas around the 7th green and 9th tee, along the entrance road and around the maintenance facility. Wetland areas also received much needed attention, whilst the natural grassland and low lying areas between the 13th and 15th holes saw significant tree pruning works and general tidying to enhance the natural beauty across this area of the course. While the drought may seem a distant memory, the graph below illustrates that, with the exception of March and June last year, every month saw only average or below average rainfall, with the last 6 months realising only 144mm compared to an average of 247mm for July to December. Despite the generous rain at the start of 2012 providing great relief for the golf course, annual rainfall figures still finished 17mm below average, while evaporation rates were 150mm above average for the year. The dry spring and start to summer is serving as a reminder of the importance of the investment our club has made in water infrastructure in recent years. In July, work was completed on an upgrade of the course maintenance facility building. This work formed stage one of our short-

term upgrade program designed to meet legislative requirements in WHS and environmental management. The works included the installation of an additional building to improve and enlarge staff amenities, with the existing lunch room converted into a course operations office. By carrying out this work, it allowed for the internal office area within the shed to be removed for increased undercover storage space for machinery and equipment. The total project cost was just over $100k, with the new Ausco portable building purchased by the Club. Careful consideration took place with all aspects of the work to ensure funds could be recouped in the future once a decision is made on a new maintenance facility. This includes the option of onselling the new building or reusing it in any future upgrades. Course renovation works again took place in the first week of September. This year, a decision was made to cancel all competitions during the week, giving course staff flexibility to close holes to complete renovation works in a shorter time frame. As a result, work was completed more efficiently and with less long term impact on member access to the golf course. Daryl Sellar continues to provide outstanding leadership and direction for the course maintenance team. He was ably supported on the ground by Graham Stevens and James McDonald, who provide passionate and loyal service to the Club.

Recent bunker refurbishment and rationalisations have been executed with a long term mindset. Working in conjunction with course designer, Neil Crafter, reducing ongoing maintenance costs was a major factor in the project.

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May Revised hole indexing is introduced Updated local rules introduced Bunker Refurbishment Plan commences on 3rd & 4th holes Elysia Yap and Amy Zhou represent South Australia at the Women’s Interstate Series The Club’s junior members travel to 13th Beach aided by the Club’s Junior Foundation Bunker Refurbishment Plan commences on 6th & 7th holes

June Newcastle Golf Club and Sanctuary Cove Golf Club are announced as new reciprocal clubs Jill Hodge wins Women’s Club Championship One Solution Mobile & Data signs as major sponsor of upcoming Glenelg Foundation Day Yellow Championship Women’s Course used for first time in Women’s Club Championships

July Captain’s Lunch is held, with guest speaker Neil Paulett Sarah Griffiths wins Women’s Pennant Player of the Year Braeden Kelly wins Men’s Pennant Player of the Year Official Course Guide and Hole Flyovers are produced to enhance the service and offering provided by the Club New Advertising Guidelines approved by COM

August Lynn Paterson commences full time role as Events Manager Glenelg Foundation Day raises $20k for Junior Golf Inaugural Tuohy Trophy is held and won by Henry & Paul Duregon Member Satisfaction Survey is released Significant landscaping works carried out around golf course

Membership & Member Focus • • • •

Focus on improved staff service Significant reciprocal club additions Good news for Adelaide Crows re GGC alignment Member events success

Efforts were made in 2012 to further enhance the benefits offered to members with a focus on services rather than changes to membership categories. Early in the new year, the Committee of Management introduced a new reciprocal club strategy designed to capitalise on the improving reputation of the Club within the golf industry. The strategy aims to identify suitable clubs, both interstate and overseas, which match the quality and culture of Glenelg. The strategy also identified the need to differentiate between non-green fee paying reciprocal clubs and those where a green fee, generally discounted, is payable, namely affiliate clubs. As a result, new reciprocal agreements were established with Newcastle Golf Club in NSW, Lake Karrinyup County Club in WA, Twin Waters Golf Club on the Sunshine Coast in Queensland, and affiliate agreements signed with Links Hope Island and Sanctuary Cove Golf & Country Club, both on Queensland’s Gold Coast. Further work will take place in 2013 and beyond as we endeavour to establish reciprocal and affiliate agreements with some of the best golf courses around Australia and overseas as the Club’s reputation continues to grow. Clubhouse utilisation was again high on the agenda with changes made to the Club’s food and beverage operations to encourage members and the local community to make use of our outstanding family friendly facilities. Clever marketing strategies and advertisements promoting Pinehill Bistro to members, guests and residents in surrounding areas saw an increase in patronage across lunch and dinner times throughout the year. Thursday night dining averaged 30-40 people, with peak periods seeing up to 70-80 seatings, many of whom were non-members. Friday dinners continued to perform well whilst lunch times remained popular for members and nonmembers alike. Two Captain’s Lunches were held during the year: one in July featuring Neil Paulett, of Paulett Wines, and the other in December with Robert O’Callaghan, of Rockford Wines fame, as

guest speaker. His stories of growing up, early experiences within the wine industry and the establishment of his own winery were enjoyed by all in the room. Both lunches were extremely well attended, fun and informative. Once again, our popular Quiz Night was a great success with over 150 members and guests enjoying the fun and festivities and raising over $2,000 for the Club’s Junior Development Program. Our Winery Challenge was another success story, with full fields enjoying fine weather and quality food and wine both in the morning and afternoon. A number of advertising campaigns were used during the year to promote various services, memberships and programs. The local Messenger newspaper was used primarily to promote the Pinehill Bistro to the local community, but also the newly established Junior Tigers Golf Program, the Women’s Try Golf Program and the Club’s conference and function facilities. All campaigns received good traction and will continue to be used as a method of promotion to the local community. In November, the Club announced a corporate partnership as “The Official Golf Club of the Adelaide Football Club”. The partnership provides a great opportunity for us to promote our facility to the members, supporters and corporate affiliates of the Adelaide Football Club and align us with a strong South Australian brand. We are delighted to commence this partnership with the Club for all South Australians and see a great synergy with the Adelaide Football Club, which provides a first class facility and experience for players, members and supporters, in line with our own reputation as one of Australia’s premier golfing facilities. A comprehensive survey of member satisfaction levels was undertaken in August with generally positive results. Overall satisfaction levels were excellent, with the golf course rating highest at 8.48 out of 10. The Pro Shop received a rating of 8.30 with food and beverage close behind on 8.04. With a target satisfaction rating of 7.50 or higher, both the annual golf program and membership value fell within targeted levels.

When breaking down satisfaction levels further, a number of issues were identified which did not meet targeted levels. In regard to the golf course, these areas included bunkers, rough, the driving range and on-course toilet facilities. Dissatisfaction levels with the performance of the Committee of Management, Financial Management and strategic planning were noted and the continuing divide between online bookings and ball-in-race starting systems was also identified. Our reciprocal clubs list and bag and buggy storage service also rated poorly. Pleasingly, 95.2% of members indicated they would be proud to recommend Glenelg Golf Club to their family and

friends and 89.5% of members believe their expectations of membership have been met by the Club. A review of the satisfaction survey results has been undertaken by the Committee of Management and a number of steps have been taken to address the issues identified, and plans put in place to ensure other areas will be addressed in coming years. From September to December, the Club offered a Membership Incentive Program designed to actively promote and introduce new members to the Club. Many of our new members have followed family and friends to our Club, and this incentive program saw a further 14 new Provisional members join during the period.

Industry trends have seen waiting lists diminish and interest in Club memberships decline, yet we have seen an increasing number of people playing golf. Our Club has not been immune to these industry trends, and, whilst our waiting list is now exhausted, demand has remained with new members joining the Club on a regular basis and the golf course being more actively utilised. Our Club has a very strong, proud and loyal membership base and it is important that we all continue to promote our Club, our brand and our services to the people around us to ensure a secure financial future for our Club.

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Clubhouse Operations • • •

Streamlined and improved food and beverage performance Tough wedding/function market conditions- focus for 2013 Exciting new staff appointments

Major changes were introduced to the Club’s food and beverage operations in an effort to stave off the poor financial performance of the previous year. A good basis had been established in 2011, but too much waste was seen in trying to deliver services not supported by members.

Sunday roasts, Thursday night rump and red, and Tuesday lunch fish specials all generated increased interest and traffic through the clubhouse.

Menus were updated regularly, offering a cross section of quality local produce in a variety of styles designed to meet the needs of members and guests. The difficulty in providing food styles ranging from simple sandwiches and focaccias, to more complex bistro meals and specials, through to quality fine dining for wedding receptions and other functions, cannot be understated and our culinary team, led by Head Chef, Matt Chapman, delivered this consistently and professionally throughout the year.

Conference numbers increased during 2012 and contributed 11% of total revenue to catering. Weddings contributed 14% of revenue with other functions making up almost 20% of total sales. Importantly, general revenue through member sales, lunch times and dinners increased 15% over 2011 to comprise almost 40% of total catering revenue.

After analysing the good and bad features of 2011, attention was focused on continuing to provide the quality and consistency of food and service but at those times supported by members and guests. In addition to this, active promotional and advertising campaigns were used to drive business through the doors, utilising surrounding residential areas and trying to entice members and their families and friends to use the outstanding facilities on offer.

Phil Day and Marty Ardill provided friendly and professional service behind the bar, with Marty continuing to update and refresh the Club’s extensive wine list for members to enjoy. Whilst our catering operations performance improved significantly and returned a creditable profit, further improvements are expected in 2013. At the end of the year, Karen Steindorf left us after 18 years of loyal service to the Club, and we were pleased to announce that Marty would be taking on the Clubhouse Operations Manager role in 2013.

The wedding reception market continued to be ultra competitive, with new venues opening in surrounding areas resulting in a downturn in bookings again in 2012 to 28. With the full time appointment of Lynn Paterson as Events Manager in August, the Club started to aggressively promote its facility in various bridal magazines, newspapers and online, and also participated in the Spring Bridal Expo at the Wayville Showgrounds in October. Already, we are seeing an increase in bookings and enquiries for 2013 and 2014 through these marketing strategies and we intend to continue with these strategies in forthcoming years in an effort to build up our wedding bookings once again.

A strong financial performance by bar was generated through improved rostering and staff management, with a $121,678 profit posted for the year. This included a 6% increase in revenue and 7% reduction in wages from 2011. Catering performed credibly with a $66,331 profit. Whilst this result was an improvement on 2011, it remained short of budget targets for the year. The result did see a 7% increase in revenue and a significant reduction of almost 9% in wage costs.

The year ahead brings fresh new prospects, an opportunity to further grow an ever improving food and beverage operation and deliver strong profits for the Club. Service, quality and consistency remain our focus and we will aim to deliver this for members in 2013.

The introduction of the food and beverage cart on Saturdays and Wednesdays offered another level of service to members and, whilst some members still argue over the BBQ versus the cart, in general the cart has provided an excellent offering to golfers.

A number of initiatives were trialled throughout the year to encourage clubhouse utilisation and increase revenue.

Function numbers in 2012 Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

TOTAL

2011

Weddings

Functions

121

Conferences

170

150

Golf Days

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Golf Operations • • • • • •

Starting system success and improved pace of play Improved golf initiatives and participation levels Women’s pennant success Coaching clinics embraced Interclub challenges introduced Women’s state and national success

Substantial improvements and changes were made to the Club’s golf operations areas during 2012. The first full year of our new structure with Head Professional and Director of Golf Operations, Shane Robinson, saw many new initiatives, innovations and programs designed to actively encourage members out onto the golf course and utilising our facilities. Under the new structure, the Pro Shop became the central point for members and guests on golf related issues and was managed with professionalism and friendly service by Shane and his team. Coaching clinics for members were introduced, with state and national coach, Gareth Jones, and PGA professional, Adrian Wickstein, offering a range of different programs from which to choose. Inside 50 short game clinics, men’s and women’s clinics, another successful Women’s Try Golf Program and Women’s Proficiency Clinics were all offered and well supported by members and guests. Starting systems again drew much debate amongst members. Early in the year, the Committee of Management delegated authority to the golf operations team to determine when and how to utilise online booking sheets. They are at the cold face of the issue and communicate with golfers on a daily basis, so their knowledge, experience and understanding is essential in determining how to best to manage the first tee. Saturdays and Sunday mornings were identified as times of heavy traffic, so it was agreed to introduce online booking sheets on these days to manage this traffic. A two-tee system was subsequently introduced to further manage Saturday traffic and, since its introduction, we have seen an increase in competition numbers, minimal delays on the 1st and 10th tees, and significant improvements in pace of play. Online booking sheets were also trialled successfully for some larger events, such as the Women’s Minda Open Day, and during the high traffic Christmas and New Year holiday period.

Relationships with our reciprocal clubs and local clubs were high on the agenda in 2012, with a number of new club challenge matches established. The inaugural Glenelg vs 13th Beach Reciprocal Challenge was held over the Adelaide Cup long weekend at 13th Beach Golf Links, with a return match scheduled for the same weekend in 2013. Challenge matches were also introduced between Glenelg and Kooyonga with the men’s Airport Challenge held in May. The women’s Pauline Sanderson Bowl was played twice during the year, with Glenelg holding the prize after the second event. In May, new course indexing was introduced to better reflect hole ratings and changes made to the course in recent years. Our local rules were updated at the same time, and the Pro Shop commenced printing scorecards for members upon competition registration. The Golf SA Pennant season was a succcess for the Club in 2012. For the first time, sponsors were sought to assist with the financial costs associated with pennant golf. Reilly’s Wines was signed on as the major sponsor, with SA Safe Supplies (Mark Roberts), McGrath Real Estate (Paul McGrath) and the Watermark Hotel all providing valuable contributions. A total of $10,000 in sponsorship was provided and we thank them immensely for their support. Following a structured pennant training program designed by our golf operations team, the Women’s Grade 1 and 2 teams took out their respective pennants. The Grade 1 victory was made even more impressive given the team comprised four junior members under the age of 18 – Elysia Yap, Christine Beasley, Amy Zhou and Jenny Lee – with Sophie James making up the final position in the victorious side. The women’s Cleek Stick reached the final, but went down in a tight match against West Lakes. Unfortunately, our men’s teams were not able to match the performances of our women’s teams,

although our Junior side did finish 3rd, only a few matches out of the final. At the closing pennant dinner in July, Sarah Griffiths was presented with Women’s Pennant Player of the Year, and Braeden Kelly took out the Men’s Pennant Player of the Year. Both players were deserved winners, going through the season undefeated. In June, Jill Hodge took out her 5th Women’s Club Championship, defeating Sue Tuohy in the 36 hole final, and followed up this victory with the Women’s Saturday Championship over her daughter, Josie. Jill also went on to win the Women’s State Champion of Champions event later in the year. In other women’s championship matches, Annette Rieniets won the B Grade championship, while Cheryl Hunt took out the C Grade title. A review of the Women’s Club Championship schedule was flagged during 2012 and further discussions will take place in 2013 to determine the best way forward for this championship event. Matt McGowan won his first Men’s Club Championship in November, defeating Campbell Rawson on the 36th hole. William Traljic won the B Grade Championship and Don Tucker collected the C Grade trophy. Twelve year old Jackson Kalz won the B Grade Plate and shows a lot of potential, while Jim Rawson took out the Senior Championship . The Men’s Club Foursomes Championship and Handicap events were again well supported in October, with Campbell Rawson and John Noble taking out the Club Foursomes Championship. Juniors Elysia Yap and Jenny Lee won the Women’s Foursomes Championship, adding to the State Foursomes title they won a few weeks earlier. In July, the Glenelg Vardon events were played, with Grange’s Matt Lisk playing outstanding golf in tough conditions to take out the Brian Ferris Memorial Trophy. Amy Zhou continued her excellent form, taking out the Women’s Vardon. Glenelg’s female contingent featured prominently in the results, taking out the top six spots on the leaderboard. In the Eric Scovell Trophy, Royal Adelaide’s Patric Kroschel won the Junior event from our own Connor Chant and Lachlan Booth.

event. The inaugural winners of the Tuohy Trophy were father/son, Paul & Henry Duregon, pipping the father/ daughter pairing of Chris & Sophie James by the smallest of margins. Participation remains high in club events with record numbers playing in the Wednesday twilight competitions. Our twilight events have become a talking point within the golf industry as most clubs struggle to attract numbers to theirs. Over 120 members, family and friends attended the Club Championship and Trophy Presentation Dinner in November to celebrate the achievements of members throughout the year. A special gift was presented to Pauline Sanderson, who was inducted into the SA Golf Industry Hall of Fame at the golf industry awards night, joining Rhonda Watson OAM, Bob Tuohy and Murray Crafter, who were inducted in 2011. A strong field competed for the Owen Whitford Open Mixed Foursomes Trophy in December, which was won by the mother/son pairing of Vicki and Jack Hynes, over Glenelg’s Will Starkey and Grange’s Cassidy Evreniadis. Other outstanding achievements during 2012 included Deb Christie’s victory in the State Country Women’s Championship and Sarah Griffiths taking out the Elizabeth Pitcher Business Women’s Championship. It is fair to say that 2012 will be remembered as the “year of the females” as they enjoyed success across all levels of competition. There is no doubt this can be attributed to Glenelg’s family friendly culture, progressive nature and focus on encouraging female golfers through our Women’s Try Golf and junior programs and the outstanding work carried out by our active Women’s Sub-Committee. Credit must also go to our pro-active and highly regarded team of PGA professionals Gareth Jones and Adrian Wickstein, led capably by our Head Professional and Director of Golf Operations, Shane Robinson. Shane’s team, which includes Pro Shop manager Matt Hickman and Paul Gander, have provided outstanding service for members and guests throughout the year.

2012 Club Champions Club Champion

Matthew McGowan Women’s Club Champion

Jill Hodge Senior Club Champion

Jim Rawson Boys’ Club Champion

Lachlan Booth Girls’ Club Champion

Jenny Lee Men’s Foursomes Champions

John Noble & Campbell Rawson Women’s Foursomes Champions

Jenny Lee & Elysia Yap Mixed Foursomes Champions

Anthony Olsen & Elysia Yap

The inaugural Tuohy Trophy, a family foursomes championship event, was played in August with 16 pairs competing for the Club’s newest trophy

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Foundation & Heritage Fund • • • •

Fundraising success for junior golf Craig Parry attendance Heritage Fund launched Inaugural Heritage Fund members

September Course Renovations carried out in first week, no competitions held during the week Membership Recruitment Drive commences

The Glenelg Golf Club Foundation continues to prosper, with $31,099 raised through various fund raising initiatives and donations from members throughout the year. In total, $20,879 of funding was provided to our juniors during 2012 to help them further their golf. This funding included entry fees for events, travel expenses and lesson costs with our teaching professionals. As at 31st December 2012, the balance of funds available in the Foundation totalled $33,480. In August, the Club was lucky enough to have Craig Parry as special guest for the 2012 Glenelg Golf Club Foundation Day. Craig’s attendance was made possible through our newly established relationship with Schweppes. As part of the arrangement, Craig attended an intimate dinner for sponsors giving them the opportunity to mingle with and ask questions of Craig’s his experiences as one of Australia’s leading professional golfers. On the day itself, the presence of Craig Parry created a buzz, with Club member and major sponsor, Troy Perriam, of One Solution Mobile & Data, and his guests tackling our challenging layout with the Australian golfing legend. Craig made many positive comments about

the course but made particular mention on the depth and structure of our junior development program.

October

The 2012 Foundation Day raised $23,480 for our junior golf program. This day would not be a success without the support of our sponsors and, whilst the list is too long to cover here, we would like to thank all of them for their generous support of the event.

Inaugural Member Information Session is held to keep members abreast of the latest news and information around the Club

Also in August the Club’s Heritage Fund was launched. For many members, Glenelg Golf Club has formed a valuable part of their life; a source of great fun, social interaction, pride and enjoyment. The Heritage Fund was created to provide passionate members with the opportunity to either donate or leave a legacy to their Club that will be recognised for generations to come. The sole purpose of the Heritage Fund is to build and provide strong financial reserves through donations and bequests that will secure the long term future of the Club. The first meeting of the Heritage Fund Sub Committee was held in August with Geoff Gitsham, Jim Sullivan, Bill Ackland and Tony Martin as inaugural committee members.

Twilight Golf commences

Lachlan Booth wins Boys’ Junior Championship & Jenny Lee wins Girls’ Junior Championship John Noble & Campbell Rawson win Club Foursomes Championship Glenelg Golf Club Heritage Fund is launched 2012 Winery Challenge is heralded a great success, raising over $2,000 for breast cancer awareness Kerry Crossman wins GMA(SA) Employee of the Year Award Pauline Sanderson inducted into SA Golf Industry Hall of Fame

November Club signs as Official Golf Club of the Adelaide Football Club Brenton Sanderson announced as Official Club Ambassador Matt McGowan defeats Campbell Rawson in final of Club Championship

Heritage Fund Members Securing the Club for Members both now and in the future. 1927 Founders’ Society Sapphire Member

December Lake Karrinyup added to the Clubs growing list of reciprocal clubs

OWEN BURGAN (2012)

Anthony Olsen & Elysia Yap win Club Mixed Foursomes Championship

Heritage Society Member

Anvers Wines signs as major sponsor of Glenelg Pennant Teams for 2013

NOEL TAPLIN (2012)

Record numbers in Club Twilight events

HERITAGE FUND BALANCE: as at 31st December 2012

$5,000

Jack & Vicki Hynes defeat Will Starkey and Cassidy Evreniadis in the final of the Owen Whitford Trophy Karen Steindorf finishes in her role as Clubhouse Operations Manager Booking Sheets used during the busy Christmas and &New Year period

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Junior Golf • • • •

Introduction of Junior Tiger Golf Program Two new category enhancements Local and interstate trips State championship success

The Club’s Junior Development Program continues to be highly regarded within the golfing community and new initiatives in 2012 only enhanced our reputation as a leader in this field. To provide some structure for junior golf, our golf operations team implemented the Junior Tigers Golf Program in February. The program provides a pathway for young golfers from beginner through to junior cadets and finally to Junior membership. The structured six-level program applies the motto, “A Skill, A Rule, An Etiquette” and each session completed involves these three areas. Sessions were held during school terms on Wednesday afternoons and Sunday mornings, with up to 100 juniors participating in the program during the year. Along with the Junior Tigers Golf Program, the Club introduced two new membership categories for junior golfers – Tiger Cubs and Cadets. These two categories provide the necessary pathways that prepare participants for Junior membership at Glenelg. Whilst junior membership numbers have declined somewhat in recent years, interest continues to grow in the Junior Tigers Golf Program, and given this program is primarily aimed at 8 to 14 year olds, we expect to see an increase in junior membership numbers in coming years as players progress through the program.

The Glenelg Golf Club Foundation continued to provide funding support to our junior members, with changes made to the funding process in 2012. Juniors themselves are now required to arrange entry into golf events, organise and pay for lessons and arrange travel plans for interstate golf events, then to seek reimbursement afterwards. These changes were designed to teach our juniors organisational and life skills and have been successful in their implementation. In April, the junior pennant squad travelled to 13th Beach Golf Links for five days of team bonding and golf in the lead up to the pennant season. Later in the year, a larger group of 14 juniors attended the annual South Coast junior trip at Links Lady Bay. Jenny Lee was a standout for the year after taking out both the SA Junior Masters and SA Junior Amateur Championships for the second consecutive time. Jenny went on to win the Girls’ Club Junior Championship in October, the State Women’s Foursomes and Women’s Club Foursomes championships with Elysia Yap, and was a member of the victorious Grade 1 Women’s Pennant Team. Other standout performers during the year included Josh Hayes, who won the SA Country Junior Boys’ Championship in September, and Lachlan Booth who

took out the Golf SA Junior Open event in December. Lachlan also now holds the course record at Port Augusta Golf Club after shooting a 5-under 65 on his way to taking out their Open title in August. Many of our juniors represented the state in various golf events during 2012. Matilda Wheare, Jacqueline Walter, Sam Raschella, Josh Hayes, Mitch Taht and Lachlan Booth represented the winning SA team in the Cudmore Cheney and Border Matches against Victoria at Warnambool in January. In addition to winning the Club Mixed Foursomes Championship in December with Anthony Olsen, Elysia Yap was named captain of the State Junior Girls’ Team which competed in the Junior Interstate Series in Queensland in April. Also included in the team were Amy Zhou and Christine Beasley. Lachlan Booth was a member of the victorious State Junior Boys’ Team, with Gareth Jones as coach. Elysia Yap and Amy Zhou were also

named in the Women’s State Team for the Interstate Series played at West Lakes Golf Club in May. Jake Hurst represented the state in the Secondary Schools Interstate Series in August and Liam Kennewell was selected in the SA team which played in the School Sport Australia 12 and Under Golf Championships in NSW in November. Once again, our junior program would not be the success it is without the assistance of a loyal band of volunteers, parents and Club staff. Paul Duregon continues to drive the program, and, with the support of the golf operations and administration teams, and backing from the Committee of Management and the Glenelg Golf Club Foundation, we continue to see our junior members develop as golfers and outstanding ambassadors for our Club.

Summary of Glenelg Golf Club Foundation Activities for 2012 JUNIOR DEVELOPMENT PROGRAM INCOME Donations:

$3,094.00

Foundation Day: Other Income:

$23,480.00 $4,525.00

EXPENDITURE Junior Development:

$11,497.00

Travel Expenses:

$8,932.00

CURRENT BALANCE:

$33,480.00

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Players in the game Committee At the Annual General Meeting in March, Geoff Gitsham was appointed President for a further 3-year term. Geoff’s loyalty to our Club is without question, and with his appointment to the Heritage Fund Sub Committee in August, he continues to provide dedicated service to the Club. Jim Johnson finished his two-year term as Captain in March, and six years as a member of the Club’s Committee of Management. Jim was a driving force behind considerable change seen at the Club during his tenure and his legacy will continue to see benefits for members, particularly through changes made in the golf operations structure and food and beverage operations. Kay Nyland and Sam Koukourou were reelected to the Committee of Management at the Annual General Meeting along with new committee member, Bevan Roberts. Kay and Sam continue to provide excellent and knowledgeable service to the Committee of Management and Bevan has been able to bring a cool business mind and steadying influence to the group. At the Women’s General Meeting in October, Anne Marks completed her term as Women’s Captain. Heather Waddy was appointed as the new Women’s Captain with Cathy Johnson Women’s Vice Captain. We are very fortunate to have such a committed and capable Committee of Management. On behalf of the Club, I thank them for their support to the Club and to me over the past 12 months.

Staff Changes in personnel are a matter of life and the Club saw its fair share of staff movements during 2012. Karen Steindorf left us in December after 18 years of loyal service in various food and beverage roles, most recently in 2010 replacing Martyn Kinsman as House Manager. Karen’s contribution over those

years, particularly as our highly regarded Functions Coordinator, was greatly appreciated and we wish her the best in the future as she continues to raise her young family. In early January 2013, Marty Ardill was appointed as Karen’s replacement. With extensive experience in hospitality and management roles, Marty has worked for the Club in various capacities since April 2011, most recently as Assistant Bar Manager. Marty’s credentials, skills and experience are outstanding, as is his passion and vision for the Club and our food and beverage operations. We look forward to seeing many positive changes implemented under Marty’s management and leadership. Lynn Paterson joined our team as Events Manager in August. She replaced Laura Swift who had been undertaking the role on a part-time basis for approximately 18 months. Lynn has been an outstanding addition to our team which has already seen an increase in wedding bookings for 2013 and 2014. We welcomed Todd Williams and James Parisella to our course maintenance team in 2012. Todd, who remains one of our star junior members, joined the team as an apprentice greenkeeper, whilst James joined us in the mechanic role and has been instrumental in improving the efficiency of our course machinery fleet maintenance program. Steve Richards retired in January after more than 30 years of service and Troy Partridge left us to take up a dream role at Cable Beach Resort in Western Australia. Daryl Sellar and his team pride themselves on providing a learning environment for staff and this was further evidenced with one of our team, Simon Grieve, moving on to the position of Assistant Course Superintendent at Adelaide Shores Golf Club during the year. Shane Robinson and his golf operations team have continued to provide outstanding service for members, and this was further enhanced with the

appointment of Matt Hickman to his team as Pro Shop Manager. Matt has brought considerable retail experience to the Pro Shop and this shows in both the stock levels and offerings available for members and guests. We encourage you to support Shane and his team and use their services when you are in need of new golfing equipment, accessories or apparel. Our Administration team, led by General Manager, David Brand, consistently provides friendly and efficient service for members and guests. Anthony Olsen has taken to his role as Membership & Marketing Manager with enthusiasm, bringing in additional business and revenue streams to assist the Club’s financial position. Carly Clough continues to provide timely and accurate financial reporting for the Club, and she is ably supported by Cathy Symons and Kerry Crossman in other administrative roles. At the SA Golf Industry Awards Night held at Adelaide Oval in October, Kerry Crossman won the Golf Management Australia (SA Division) Employee of the Year award. This was a timely and well deserved accolade for Kerry, who has given unwavering and loyal service to the Club for 10 years.

Member and Supporters Once again, the Club could not operate effectively without the support and assistance received from a long list of sponsors and volunteers. Glenelg has had a very long and proud history of volunteers and supporters with members always willing to give up their own time to assist in the running of the Club. There are many who help to deliver a quality experience and service to members, and it would be remiss of us not to thank them. However, they are too many to name, but too valuable to ignore. Thank you everybody for your invaluable assistance throughout 2012.

The 19th In conclusion, 2012 was a year of focus and consolidation. We achieved our stated goals of turning around our food and beverage operations and adhering to our debt reduction program. On the course, the new starting system initiatives have been successful and the two-tee system on Saturdays has resulted in pace of play improvements adding to greater enjoyment. Times are changing, and the competition in today’s challenging economic world and the fight for the leisure dollar and time, is intense. Our gameplan is set. We have a great team and an unpararelled mix of course, clubhouse facilities and member value offerings suitably complemented by friendly members. In short, your Committee of Management and staff are passionate about ensuring excellence in all aspects of the Club to ensure your overall golfing experience is always memorable and we are acclaimed as having the best all round package in our great state.

Obituary Tony Martin Club Captain

We acknowledge the following members who passed away during 2012: •

John English (late 2011)

•

Bob Ford

•

Colin Churchett

•

Brian Mathias

•

James Bradley

•

John Prendergast

•

Lew Duncan

•

Lance Poulson

•

Bill Persse

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

Annual Report | Page

GLENELG GOLF CLUB INCORPORATED AND CONTROLLED ENTITY STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2012 Note 2012 $

Consolidated 2011 $

Golf Club 2012 $

2011 $

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

1,869,775 252,142 319,947 39,210 14,250 2,495,324

NET INCOME Membership Subscriptions Entrance Fees Infrastructure Levy Land Tax Levies Bag & Buggy Storage Locker Fees

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

Golf Operations Competition Fees Green Fees Cart Hire Range Income Affiliation Fees Trophies Professional Retainer Depreciation Other Golf Operations Expenses Bar Sales Less Cost of Goods Sold Gross Profit Less Expenditure Salaries and Associated Costs Replacements and Repairs Other Expenses Depreciation Catering Sales Less Cost of Goods Sold Gross Profit Less Expenditure Salaries and Associated Costs Laundry Replacements and Repairs Cleaning Materials Stationery and Advertising Other Expenses Depreciation Other Income Catering Levy forfeited Contributed Asset Interest Received Phone Tower Miscellaneous

TOTAL NET INCOME

The accompanying notes form part of these accounts

1,869,775 252,142 319,947 39,210 14,250 2,495,324

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

63,948 341,573 58,821 40,025 (286) (51,955) (43,752) (134,932) 273,442

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

63,948 341,573 58,821 40,025 (286) (51,955) (43,752) (134,932) 273,442

867,332 (336,410) 530,922

821,490 (334,967) 486,523

867,332 (336,410) 530,922

821,490 (334,967) 486,523

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

(394,676) (5,437) (33,954) (4,741) 47,715

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

(394,676) (5,437) (33,954) (4,741) 47,715

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

1,114,275 (438,348) 675,927

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

1,114,275 (438,348) 675,927

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

(626,780) (22,503) (11,776) (5,288) (7,162) (29,871) (11,314) (38,767)

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

(626,780) (22,503) (11,776) (5,288) (7,162) (29,871) (11,314) (38,767)

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

57,046 342,213 4,506 42,057 20,792 466,614

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

57,046 342,213 4,506 42,057 20,792 466,614

3,024,478

3,244,328

3,024,478

3,244,328

GLENELG GOLF CLUB INCORPORATED AND CONTROLLED ENTITY STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2012 Note 2012 $

Consolidated 2011 $

Golf Club 2011 $

2012 $

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

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

426,010 8,500 33,577 19,930 212,125 41,471 34,686 32,901 12,875 37,782 6,540 3,715 27,671 49,512 947,295

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

426,010 8,500 33,577 19,930 212,125 41,471 34,686 32,901 12,875 37,782 6,540 3,715 27,671 49,512 947,295

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

851,261 201,556 40,207 7,577 24,830 20,573 921 80,787 23,360 55,568 402,707 1,709,347

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

851,261 201,556 40,207 7,577 24,830 20,573 921 80,787 23,360 55,568 402,707 1,709,347

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

14,278 32,971 96,750 88,016 27,587 200,056 459,658

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

14,278 32,971 96,750 88,016 27,587 200,056 459,658

(20,050) (20,050)

(1,344) 76,979 75,635

(20,050) (20,050)

(1,344) 76,979 75,635

3,007,835

3,191,935

3,007,835

3,191,935

16,643

52,393

16,643

52,393

TOTAL COMPREHENSIVE INCOME FOR YEAR

16,643

52,393

16,643

52,393

TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO EQUITY

16,643

52,393

16,643

52,393

TOTAL EXPENDITURE NET SURPLUS / (DEFICIT) Other Comprehensive Income

The accompanying notes form part of these accounts

Annual Report | Page

GLENELG GOLF CLUB INCORPORATED AND CONTROLLED ENTITY STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2012 Note 2012 $

Consolidated 2011 $

Golf Club 2012 $

2011 $

CURRENT ASSETS Cash & Cash Equivalents Trade & Other Receivables Other Current Assets Inventories Total Current Assets

3 4

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

179,781 94,560 65,432 107,733 447,506

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

179,781 94,560 65,432 107,733 447,506

5 6

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

16,500 7,799,201 7,815,701

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

625,933 7,170,500 7,796,433

8,041,734

8,263,207

8,022,466

8,243,939

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

266,755 154,808 2,354,194 374,751

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

266,692 154,808 2,354,194 374,751

2,196,887

3,150,508

2,196,824

3,150,445

116,438 1,546,422

113,724 833,631

116,438 1,546,422

113,724 833,631

Total Non-Current Liabilities

1,662,860

947,355

1,662,860

947,355

TOTAL LIABILITIES

3,859,747

4,097,863

3,859,684

4,097,800

NET ASSETS

4,181,987

4,165,344

4,162,782

4,146,139

Retained Earnings Outside Equity Interests in controlled entity

4,153,740 28,247

4,137,097 28,247

4,162,782 -

4,146,139 -

TOTAL EQUITY

4,181,987

4,165,344

4,162,782

4,146,139

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

7 8a 9a 11

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

8b 9b

EQUITY

The accompanying notes form part of these accounts

GLENELG GOLF CLUB INCORPORATED AND CONTROLLED ENTITY STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 DECEMBER 2012 Retained Earnings $

Outside Equity Interest $

Total $

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

4,137,097 16,643

28,247 -

4,165,344 16,643

Balance at 31 December 2012

4,153,740

28,247

4,181,987

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

4,146,139 16,643

Balance at 31 December 2012

4,162,782

Balance at 1 January 2011 Profit attributable to members of controlling entity

4,084,704 52,393

28,247 -

4,112,951 52,393

Balance at 31 December 2011

4,137,097

28,247

4,165,344

Balance at 1 January 2011 Profit attributable to members ofcontrolling entity

4,093,746 52,393

Balance at 31 December 2011

4,146,139

Controlling Entity

Year End 2011 Consolidated Entity

Year End 2011 Controlling Entity

The accompanying notes form part of these accounts

Annual Report | Page

GLENELG GOLF CLUB INCORPORATED AND CONTROLLED ENTITY STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2012 Note 2012 $

Consolidated 2011 $

Golf Club 2012 $

2011 $

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

1,935,765 2,634,305 504,367 (4,418,128) (212,125) 466,614

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

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

1,935,765 2,634,305 504,367 (4,418,128) (212,125) 466,614

699,931

910,798

699,931

910,798

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

(349,383) 21,909 -

(651,963) 15,182 -

(349,383) 21,909 -

(651,963) 15,182 -

NET CASH (OUTFLOW) FROM INVESTING ACTIVITIES

(327,474)

(636,781)

(327,474)

(636,781)

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

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

(111,763) (150,000) -

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

(111,763) (150,000) -

NET CASH PROVIDED INFLOW (OUTFLOW) FROM FINANCING ACTIVITIES

(358,838)

(261,763)

(358,838)

(261,763)

13,619

12,254

13,619

12,254

179,781

167,527

179,781

167,527

193,400

179,781

193,400

179,781

CASH FLOWS FROM INVESTING ACTIVITIES

CASH FLOWS FROM FINANCING ACTIVITIES

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

The accompanying notes form part of these accounts

GLENELG GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2012 NOTE 1 - STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES The financial report is a general purpose financial report that has been prepared in accordance with Australian Accounting Standards, Australian Accounting Interpretations, other authoritative pronouncements of the Australian Accounting Standards Board and the requirements of the Associations Incorporations Act of South Australia. The financial report covers the consolidated entity of Glenelg Golf Club Inc as the individual controlling entity and the controlled entity, Glenelg Golf Links Limited. The financial report of Glenelg Golf Club Inc and the controlled entity and Glenelg Golf Club Inc as an individual controlling entity comply with all Australian equivalents to International Financial Reporting Standards (IFRS) in their entirety except where compliance is not mandatory for non-corporate entities. The following is a summary of the material accounting policies adopted by the consolidated entity in preparation of the financial report. The accounting policies have been consistently applied unless otherwise stated. The financial report has been prepared on an accrual basis and is based on historical costs and does not take into account changing money values or, except where stated, current valuations of non-current assets. Cost is based on the fair values of the consideration given in exchange for assets. Unless otherwise stated, the accounting policies adopted are consistent with those of the previous year. Certain new accounting standards and interpretations have been published that are not mandatory for 31 December 2012 reporting periods. The consolidated entity's assessment is that there will be no impact from these new standards and interpretations. a)

Principles of Consolidation The Club controls the share capital of Glenelg Golf Links Limited. The consolidated accounts incorporated the assets and liabilities of Glenelg Golf Links Limited as at 31 December 2012 and the results of the Company for the period then ended. The effects of all transactions between the Club and the Company are eliminated in full. Outside equity interests in the results and group equity are shown separately in the consolidated profit and loss account and balance sheet respectively. The cost of acquiring shares in Glenelg Golf Links Limited have been accounted for as an interest in the land owned by that company and reflected accordingly.

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

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GLENELG GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2012 NOTE 1 - STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES c)

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

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

Impairment of Assets At each reporting date, the Committee of Management reviews the carrying values of its assets to determine whether there is any indication that those assets have been impaired. If such an indication exists, the recoverable amount of the asset, being the higher of the asset's fair value less costs to sell and value in use, is compared to the asset's carrying value. Any excess of the asset's carrying value over its recoverable amount is expensed to the income statement. Where it is not possible to determine the recoverable amount of an individual asset, the Committee of Management estimates the recoverable amount of the cash-generating unit to which the asset belongs.

GLENELG GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2012 NOTE 1 - STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES e)

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

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

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

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

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

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

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

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

NOTE 2 - CONTRIBUTED ASSET In February 2011 ownership and control of the Aquifer Storage & Recharge (ASR) project was handed over to Glenelg Golf Club Inc. Prior to this all management and maintenance was performed through the NRM board, to which the Club contributed approximately one third of all associated costs. In order to bring this asset to account a "Contributed Asset" income has been recognised, and this amount has been brought to Asset register in addition to amounts previously incurred. This asset has been treated according to our asset policy where earthworks and landscaping costs are not capitalised. Therefore while the project was significantly greater in value than the recognised "Contributed Asset" the amount shown is the balance of what is deemed to be capital works.

Annual Report | Page

GLENELG GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2012 Note 2012 $

Consolidated 2011 $

Golf Club 2012 $

2011 $

NOTE 3 - CASH & CASH EQUIVALENTS Cash at Bank Cash on Hand

181,389 12,011 193,400

169,441 10,340 179,781

181,389 12,011 193,400

169,441 10,340 179,781

The effective interest rate on short-term bank deposits was 7.76% (2011: 8.66%); these deposits have an average maturity of 20 days. Reconciliation of Cash Cash at the end of the financial year as shown in the statement of cash flows is reconciled to items in the balance sheet as follows: 193,400

179,781

193,400

179,781

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

24,920 12,139 57,501 94,560

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

24,920 12,139 57,501 94,560

Shares - Glenelg Golf Links Ltd Premium Income Fund Provision for Impairment - Premium Income Fund Loan - Glenelg Golf Links Ltd

16,500 -

608,328 16,500 1,105

Total Financial Assets

16,500

625,933

Cash & Cash Equivalents NOTE 4 - TRADE & OTHER RECEIVABLES Subscription Debtors Sundry Debtors GST Input Tax Credits

NOTE 5 - FINANCIAL ASSETS Available for sale financial assets comprise of:

(a)

The Club has an investment in the following: 250,000 units in the Premium Income Fund, which is a managed investment schememanaged by Wellington Capital; and 250,000 shares in Asset Resolution Limited. Whilst the Premium Income Fund is listed, the shares in ARL are not, so an exact carrying value is not available, so there has been no adjustment for impairment ($150,000 in 2009, $83,500 in 2010, nil in 2011). The Fund paid a total of cash disbursements of $5,250 in 2012 in two instalments ($5,000 in 2011), which has been included in miscellaneous income as part of the Statement of Comprehensive Income.

GLENELG GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2012 Note 2012 $

Consolidated 2011 $

Golf Club 2011 $

2012 $

NOTE 6 - PROPERTY, PLANT AND EQUIPMENT Freehold land Clubhouse Less Accumulated Depreciation

628,704

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

6,010,017 (1,064,442) 4,945,575

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

6,010,017 (1,064,442) 4,945,575

Clubhouse Plant and Equipment Less Accumulated Depreciation

303,767 (245,680) 58,087

275,010 (215,412) 59,598

303,767 (245,680) 58,087

275,010 (215,412) 59,598

Course Buildings Less Accumulated Depreciation

330,818 (162,896) 167,922

221,829 (136,144) 85,685

330,818 (162,896) 167,922

221,829 (136,144) 85,685

Administration Plant and Equipment Less Accumulated Depreciation

260,560 (229,444) 31,116

234,410 (208,117) 26,293

260,560 (229,444) 31,116

234,410 (208,117) 26,293

Bar Plant and Equipment Less Accumulated Depreciation

143,982 (124,193) 19,789

133,883 (117,291) 16,592

143,982 (124,193) 19,789

133,883 (117,291) 16,592

Catering Plant and Equipment Less Accumulated Depreciation

249,982 (213,839) 36,143

236,802 (201,857) 34,945

249,982 (213,839) 36,143

236,802 (201,857) 34,945

Motor Vehicles Less Accumulated Depreciation

136,805 (77,294) 59,511

131,573 (109,910) 21,663

136,805 (77,294) 59,511

131,573 (109,910) 21,663

Course Plant and Equipment Less Accumulated Depreciation

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

4,154,024 (2,296,160) 1,857,864

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

4,140,811 (2,282,944) 1,857,867

Entrance Road Less Accumulated Depreciation

273,697 (198,928) 74,769

273,697 (181,401) 92,296

273,697 (198,928) 74,769

273,697 (181,401) 92,296

Capital Improvements Less Accumulated Depreciation

1,163 (839) 324

1,163 (791) 372

1,163 (839) 324

1,163 (791) 372

Range Assets Less Accumulated Depreciation

35,821 (12,720) 23,101

34,835 (5,221) 29,614

35,821 (12,720) 23,101

34,835 (5,221) 29,614

TOTAL PROPERTY, PLANT AND EQUIPMENT

7,480,749

7,799,201

6,852,048

7,170,500

Annual Report | Page

GLENELG GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2012 NOTE 6 - PROPERTY, PLANT AND EQUIPMENT (CONT.) b)

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

Carrying amounts at 1 January 2012

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

4,945,575 59,598 85,685 26,293 16,592 34,945 21,663 1,857,867 92,296 29,614 372 7,170,500

Additions

7,051 28,757 108,989 26,150 10,099 14,544 57,090 95,717 986 349,383

Disposals

(1,364) (51,858) (14,545) (67,767)

Contributed Asset

Depreciation

(172,876) (30,268) (26,752) (21,327) (6,902) (13,003) (17,726) (352,048) (17,527) (7,499) (48) (665,976)

Carrying Write Back of amount at 31 Accumulated December Depreciation 2012

1,021 50,342 14,545 65,908

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

Consolidated Entity

Carrying amounts at 1 January 2012

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

628,704 4,945,575 59,598 85,685 26,293 16,592 34,945 21,663 1,857,864 92,296 29,614 372 7,799,201

Additions

7,051 28,757 108,989 26,150 10,099 14,544 57,090 95,717 986 349,383

Disposals

(1,364) (51,858) (14,545) (67,767)

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

Contributed Asset

Depreciation

(172,876) (30,268) (26,752) (21,327) (6,902) (13,003) (17,726) (352,048) (17,527) (7,499) (48) (665,976)

Carrying Write Back of amount at 31 Accumulated December Depreciation 2012

1,021 50,342 14,545 65,908

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

GLENELG GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2012

2012 $

Consolidated 2011 $

Golf Club 2012 $

2011 $

NOTE 7 - TRADE & OTHER PAYABLES Trade Creditors Other Creditors

270,623 83,066 353,689

172,588 94,167 266,755

270,623 83,003 353,626

172,588 94,104 266,692

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

138,791 98,508 (82,491) 154,808

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

138,791 98,508 (82,491) 154,808

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

92,424 40,892 (19,592) 113,724

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

92,424 40,892 (19,592) 113,724

NOTE 8 - PROVISIONS (a)

SHORT-TERM PROVISIONS

Annual Leave Opening Balance Additional Provisions Raised Amounts Used

(b)

LONG-TERM PROVISIONS

Long Service Leave Opening Balance Additional Provisions Raised Amounts Used

NOTE 9 - BORROWINGS (a)

SHORT-TERM BORROWINGS

Bank Loan Hire Purchase

(b)

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

2,250,000 104,194 2,354,194

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

2,250,000 104,194 2,354,194

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

750,000 82,631 1,000 833,631

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

750,000 82,631 1,000 833,631

LONG-TERM BORROWINGS

Bank loan Hire Purchase Debentures

The Club has a loan facility of $3,450,000 which are secured by registered mortgages over land owned by Glenelg Golf Links Limited. At 31 December 2012, $2,700,000 of the Club's facility was utilised ($3,000,000 in 2011). $1,200,000 of the loan facilities is offset for interest purposes by the balance held in the Club's transaction account. Which means the interest on the $1,200,000 is only payable once the balance on hand falls below $1,200,000. While it is noted that some of the Club's debt has become payable within the next 12 months, it is intended that a portion of this debt facility be finalised in 2013.

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GLENELG GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2012

2012 $

Consolidated 2011 $

Golf Club 2012 $

2011 $

NOTE 10 - CAPITAL & LEASING COMMITMENTS Hire Purchase Lease Commitments Payable - minimum lease payments not later than 12 months between 12 months & 5 years greater than 5 years Minimum Lease Payments

93,910 52,544 146,454

118,777 96,275 215,052

93,910 52,544 146,454

118,777 96,275 215,052

Less Future Finance Charges Present Value of Minimum Lease Payments

(18,467) 127,987

(44,022) 171,030

(18,467) 127,987

(44,022) 171,030

16,573 40,051 56,624

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

NOTE 11 - OTHER CURRENT LIABILITIES Catering Deposits Green Fee Deposits Catering levy unabsorbed Wallet account Trophy account PAYG Tax Sundry GST Payable Foundation

25,800 18,500 149,423 23,872 32,108 32,894 89,951 38,868 411,416

37,270 17,790 123,701 23,669 37,658 27,032 88,136 19,495 374,751

25,800 18,500 149,423 23,872 32,108 32,894 89,951 38,868 411,416

37,270 17,790 123,701 23,669 37,658 27,032 88,136 19,495 374,751

16,643

52,393

16,643

52,393

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

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

666,346 37,317 (1,344)

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

666,346 37,317 (1,344)

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

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

138,981 43,505 (42,033) 15,633

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

138,981 43,505 (42,033) 15,633

699,931

910,798

699,931

910,798

NOTE 12 - RECONCILIATION OF CASH FLOW FROM OPERATIONS WITH PROFIT FROM OPERATING ACTIVITIES PROFIT FROM ORDINARY ACTIVITIES

NET CASH INFLOW FROM OPERATING ACTIVITIES

GLENELG GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2012 NOTE 13 - FINANCIAL INSTRUMENTS (a)

Interest Rate Risk The Club's exposure to interest rate risk, which is the risk that a financial instrument's value will fluctuate as a result of changes in market interest rates and the effective weighted average on those financial assets and liabilities, is as follows: Weighted Average Effective Interest Rate 2012 2011 % % Financial Assets Cash at Bank Cash on Deposit

Financial Liabilities Borrowings

7.76

6.14

Floating Interest Rate

8.66

7.07

Fixed Interest Rate Maturing Within 1 Year 2012 2011 $ $

2012 $

2011 $

181,389 181,389

169,441 169,441 -

1 to 5 Years 2012 2011 $ $

1,282,565 1,282,565

2,354,194 2,354,194

1,546,422 1,546,422

833,631 833,631

While it is noted that some of the Club's debt has become payable within the next 12 months, it is intended that a portion of this debt facility will be finalised in 2013. (b)

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

(c)

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

(d)

The Club has performed a sensitivity analysis relating to its exposure to interest rate risk at balance date. The sensitivity analysis demonstrates the effect on the current year results and equity which could result from a change in these risks. At 31 December 2012, the effect on profit and equity as a result of changes in the interest rate, with all other variables remaining constant would be as follows: Consolidated Golf Club 2012 2011 2012 2011 $ $ $ $ Change in Profit Increase in the interest rate by 2% $ (56,580) $ (63,756) $ (56,580) $ (63,756) Decrease in the interest rate by 2% $ 56,580 $ 63,756 $ 56,580 $ 63,756 Change in Equity Increase in the interest rate by 2% Decrease in the interest rate by 2%

$ $

(56,580) $ 56,580 $

(63,756) $ 63,756 $

(56,580) $ 56,580 $

(63,756) 63,756

NOTE 14 - AUDITOR'S REMUNERATION Remuneration of the auditor of the parent entity for: Auditing & Reviewing the financial report

8,700 8,700

8,500 8,500

8,700 8,700

8,500 8,500

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GLENELG GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2012 NOTE 15 - RELATED PARTIES (a)

The Club paid rent of $0 to Glenelg Golf Links Limited in which it has a majority shareholding, for use of the Golf Course (2011 - $0).

(b)

The names of the persons who were officers of Glenelg Golf Club Incorporated at any time during the year ended 31 December 2012 are as follows: Anthony J. Martin Gavan M. Fox Paul Duregon Brett D. Jarrad Sam Koukourou Kay Nyland Gerard P. O'Brien Bevan Roberts Neil J. Johnson

(Captain) Elected March 2012 (Vice Captain) Elected March 2012

Re-Elected March 2012 Re-Elected March 2012 Elected March 2012 Term Completed March 2012

During the year the following related party transactions occurred: 1

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

NOTE 16 - CONTINGENT LIABILITIES The Club's objection to the land tax assessment for 2011/12 was upheld and therefore no expense or accrual has been recognised in relation to 2012/13 land tax. The Club understands that Revenue SA intends to review the eligibility for an exemption from land tax at the end of each financial year. NOTE 17 - AFTER BALANCE DATE EVENTS No matters or circumstances have arisen since the end of the financial year which significantly affected or may significantly affect the operations of the entity, the results of those operations, or the state of affairs of the entity in future financial years. NOTE 18 - ASSOCIATION DETAILS The principal place of business of the association is 20-118 James Melrose Road, Novar Gardens.

GLENELG GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2012 NOTE 19 - CAPITAL EXPENDITURE COMMITMENTS $ Capital expenditure commitments contracted for: Plant & Equipment Purchases Capital Expenditure Projects

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

The committee members control the capital of the Club in order to maintain a good debt-to-equity ratio and to ensure that the Club can fund its operations to continue as a going concern. The Club's debt and capital includes financial liablities, supported by financial assets. There are no externally imposed capital requirements. The committee members effectively manage the Club's capital by assessing the Club's financial risks and adjusting its capital structure in response to changes in these risks and in the market. The responses include the management of debt levels. There have been no changes in the strategy adopted by management to control the capital of the Club since the prior year. This strategy is to ensure that there is sufficient cash to meet trade and sundry payables and borrowings. 2011

2012 NOTE 20 - CONTROLLED ENTITIES Country of Incorporation Parent Entity Glenelg Golf Club Inc Subsidiary Glenelg Golf Links Ltd

Percentage owned (%)*

Australia Australia

*percentage of voting power in proportion to ownership

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GLENELG GOLF CLUB INCORPORATED STATEMENT BY COMMITTEE

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

The attached consolidated statements of Glenelg Golf Club Incorporated, comprising the balance sheet, income statement, statement of changes in equity, statement of cash flows and notes to the financial statements for the year ended 31 December 2012 are, in our opinion, properly drawn up so as to give a true and fair view of the state of affairs of the Club and the consolidated entity as at 31 December 2012, and of their results for the year then ended.

(b)

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

The accounts have been made out in accordance with applicable Accounting Standards. In accordance with section 35(5) of the Associations Incorporations Act, 1985, the Committee of Glenelg Golf Club Incorporated hereby states that during the financial year ended 31 December 2012: 1.

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

This report is made in accordance with a resolution of the Committee of Management and signed by two Members of the Committee.

Dated this 29th day of January, 2013.

TONY MARTIN Captain

GAVAN FOX Vice Captain

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