Grange Golf Annual Report 2018

ANNUAL REPORT 2018

When Lydia Ko randomly pops in for a casual round at Grange with our juniors

2018

GRANGE GOLF CLUB YEAR IN REVIEW

$169K

131 NEW MEMBERS

PROFIT

AVERAGE MEMBER AGE MALE FEMALE

17.4 AVERAGE HANDICAP AT

56.3

OUR CLUB

60.2 GOLF COURSE RANKINGS

16.4%

WEST 28 EAST 35

FEMALE SHARE OF MEMBERSHIP BASE

64 EMPLOYEES

82,614

26,105

BEERS SOLD

SANDWICHES SOLD

$683K $34,873 RAISED

DEBT REDUCTION

FOR JUNIOR DEVELOPMENT FUND

31ST JULY 2017 - 31ST JULY 2018

ANNUAL REPORT 2018

Office Bearers & Committees Office Bearers – 2017 / 2018 President Bruno Battistella Vice President Graeme Hand Captain David Lang Vice-Captain John Thomas Committee Craig Coleman Kym Linke Craig Martin Belinda Singleton Nicolle Rantanen Kristine Tapp General Manager Barry Linke Course Manager Rowan Daymond Finance Manager Robert Vincekovic Professional Warren Mercer

Committee

House Belinda Singleton (Ch) Below are the names of the Club Kristine Tapp Committee together with a list of Jodi Kardachi^ the number of meetings held and Barry Linke* the number attended by each Robert Vincekovic* during the term of office during the Dani Caruso* financial year.

Meetings Meetings Nick Alexandrides* Eligible attended David Clay* to attend

Mr B Battistella Mr C Coleman Mr G Hand Mr D Lang Mr K Linke Mr C Martin Ms N Rantanen Ms B Singleton Mrs K Tapp Prof J Thomas

11 11 11 11 11 11 11 11 11 11

11 9 11 11 11 10 9 9 11 11

Sub Committees – 2017 / 2018 Course Graeme Hand (Ch) David Lang Craig Martin John Thomas Dianne Lang^ Rowan Daymond* Barry Linke* Robert Vincekovic* Finance Bruno Battistella (Ch) Graeme Hand Nicolle Rantanen Robert Vincekovic* Barry Linke* Emma Twartz*

Match David Lang (Ch) Craig Coleman Kym Linke John Thomas Dianne Lang^ Barry Linke* Robert Vincekovic* Simon Andrew* Membership Nicolle Rantanen (Ch) Kym Linke Kristine Tapp Barry Linke* Robert Vincekovic* Emma Twartz* Ladies Jody Kardachi (President) Dianne Lang (Captain) Elizabeth Warhurst (Vice President) Joy Prior (Vice-Captain) Kay Mousley Trudi McNamara Kathryn Needs Kristine Tapp Junior Development Craig Coleman (Ch) Craig Martin Belinda Singleton Warren Mercer* Simon Andrew* Jamie Smith* Golf SA Representative David Lang John Thomas President is ex-officio on all Sub Committees ^ Lady President and Lady Captain attend by invitation * Staff Members

2018 Sanderson Cup Team

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ANNUAL REPORT 2018

President’s Report It is with great pride and pleasure that I present this report, my fourth, as President of The Grange Golf Club.

The 2017/18 year has been another excellent year for the Club, continuing to achieve the targets set in our Strategic Plan – Destination 2020. For those members who have not viewed the Club’s Strategic Plan, it is available on The Grange Golf Club’s Website and I would encourage members to have a look at the Club’s goals, vision and direction.

Your Board, in 2017/18, has been focused on improving the courses, service and facilities presented to members and guests of the Club, whilst also reducing our overall debt level. The results speak for themselves and following is a summary of the Club’s major achievements during the past year: •

The Club recorded a net profit of $168,938 for the year, another very solid financial year.

•

A reduction in debt of approximately $682,000 which contributes significantly to our Strategic Plan Vision of being debt free by the year 2020.

•

Another very successful year for membership with 131 new members being welcomed to the club.

•

The installation and commissioning of a second 99.9kW Solar Power System which will provide long term savings in the Club’s electricity expenses.

•

The appointment of a new Course Superintendent, Rowan Daymond, in September 2017 has proven to be an excellent choice, with both members and the many visitors to The Grange Golf Club expressing extremely positive comments about the presentation of both our courses.

•

Another successful Pennant Season for The Grange Golf Club by our men’s, ladies and junior teams, in particular our ladies Sanderson Cup and men’s Bonnar Cup teams who both won their respective divisions.

•

The announcement that The Grange Golf Club will host the 2019 Women’s Australian Open in February 2019 which will, once again, prove challenging but an extremely exciting period for the Club.

COURSE This year we had a great start to the growing season following renovations last September, with excellent golfing conditions leading into Christmas 2017. We unfortunately had a setback with a number of our bent surfaces on the West course during the latter part of Summer and leading into Autumn.

Recent rainfall has contributed to the recovery of the greens and we now see things back to our normal Winter conditions. The East greens have performed well over this period and they generally have a more consistent soil profile than the West greens.

The East course was also presented in excellent condition for the busy Pennant season and exceptionally well for the prestigious Interstate Teams series.

Our couch fairways were in excellent condition through the Summer and Autumn period which gave us the opportunity to promote the roughs and provided good definition through this period. Although now in dormancy, the colour variation from roughs to fairways is providing great winter definition. An increase in mowing heights prior to the dormancy period saw prolonged playability in some of our historically leaner surrounds and, as the Winter set in, inevitably the cooler conditions took their toll on some of the couch surrounds. More work will be done to assist in this area in the coming years, and we look forward to our fairways and surrounds providing an even better surface than we currently enjoy.

Bunker work and tree pruning will remain a strong focus in the lead up to the Women’s Australian Open and beyond, as we look to continue to improve playability and the visual aspects of the courses. With one full time staff member now in the bunkers, we are seeing good results in tree root removal and sand distribution which

is making the bunkers more visually appealing and playable.

Other works on course this past year have included the extension of a number of cart paths and it is our intention to continue with this program in high traffic areas. Much needed drainage works have also been completed with the 3rd and 7th East being finished early this year.

Work to lift minor sink holes on course has also been a priority with the 3rd and 6th West tees, 11th West surround and 3rd waste bunker being completed.

The past year has also seen significant improvements being made to the automation and operation of our wetland system.

This has seen upgrades to the electrical infrastructure, water holding capacity and reporting of the system.

The pumping systems and injection component of the system are also being serviced and overhauled as necessary to allow the system to operate at full efficiency. In due course this will improve the quality of our irrigation water which has a direct impact on the quality of our playing surfaces.

As we look forward to the coming season we are excited about the prospect of building on the solid foundations and programs currently in place that continue to see The Grange Golf Club’s playing surfaces remain some of the best in the country. This will, no doubt, be on show again as we prepare to host our second Women’s Australian Open in 2019 and I hope to see all members get behind the ground staff who work incredibly hard to boost the reputation of our club.

MATCH Grange experienced success again in the Pennant season, with the Bonnar Cup Team winning after an undefeated season. The Sanderson Cup (Ladies A1) won their 4th title in a row in another dominant performance, whilst the Simpson Cup were narrowly defeated in the final by Glenelg Golf Club. It was extremely promising to see two Grange teams in the Sharp Cup (Junior Pennant), with a team

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ANNUAL REPORT 2018

President’s Report The Ladies sub-Committee organised a busy schedule of interclub challenge events and continued the successful exchange days with The Royal Adelaide Golf Club and The Glenelg Golf Club.

There were also five gala days and the ever popular Ladies Opening Day sponsored by Club Professional Warren Mercer.

The chosen charity for the season was Catherine House and the ladies raised $2,672 for this worthwhile organisation from raffles at the Opening Day and Annual Christmas lunches.

also fielded in the Division 2 Junior Pennant. Well done to players in Ladies A2, Ladies A4, Cleek Stick, Hickory stick, McMillan Shield and Senior Pennant who represented Grange in the 2018 Pennant season.

Congratulations to Matthew Wilson from the Bonnar Cup team for winning the Tony Mazzone medal awarded to the player who demonstrates hard work and sportsmanship.

The Club Championships were once again a fiercely contested battle with Colin Coleman defeating Mark Demasi. Colin also won the Eric Fitzroy Trophy for the best stroke score in the qualifying rounds.

The Club played host to the Australian Men’s Interstate Series with three members being selected in our Interstate Team. Victoria claimed the coveted series with South Australia finishing 6th. Grange member Liam Georgiadis was undefeated in 5 matches.

The Grange Vardon was dominated by our players on their home course with Jack Thompson being victorious in the Men’s event and Jin Young Yun winning the Ladies event. Colin Coleman won the Dalton Cup Champions of Champions Trophy in tough conditions.

Major Trophy and Vardon Winners • •

Riversdale Cup - Jack Thompson Tea Tree Gully Vardon – Jack Thompson / Jin Yun Young Tanunda Pines Vardon – Jack Thompson

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•

• • •

Flagstaff Hill Vardon – Jack Thompson Golf SA under 15 Championships – Nick Siegmund/ Amelia Whinney Champions of Champions – Colin Coleman The Grange Vardon – Jack Thompson / Jin Yun Young Mount Osmond Vardon – Amelia Whinney

State Selections Australian Men’s Interstate Series • Jack Thompson • Liam Georgiadis • Colin Coleman Australian Women’s Interstate Series • Jin Young Yun • Caitlin Roberts Australian Girl’s Interstate Series • Jin Young Yun • Amelia Whinney Australian Boy’s Interstate Series • Nick Thompson

LADIES The Ladies 2017/18 season proved to be another exciting year. The Grange Sanderson Cup Pennant Team created history with its fourth successive win this year defeating Glenelg in the final at The Grange. Many ladies generously gave up their time to represent The Grange Golf Club in the other Pennant teams. Sincere thanks go to the managers, caddies, spectators and families for their support throughout the season.

We welcomed a number of new lady members over the past season and are sure they will enjoy both the golfing and social aspects of our Club.

JUNIOR The Junior Development subCommittee has worked hard to maintain and improve golf for juniors at The Grange. We currently have 111 members under 25 years of age of which 65 are under 18. The emphasis has been to develop juniors into highly proficient amateurs from beginner to elite level involving a variety of experts and professionals providing support, guidance and structure to golfers. A huge thanks goes to Warren Mercer and his team for providing support and the 112 clinics held throughout the year.

It has been another busy year for the juniors of The Grange with Saturday and Sunday Clinics, School Holiday Clinics, team building social activities, McMillan Shield, Sharp Cup and Division 2 Pennants and The Grange Junior Open. The on-course experience for beginners on the East Orange Course (par 60) every Saturday afternoon and first Sunday of the month has been a big hit with juniors and parents.

The Grange Junior Foundation Day was a huge success with players helping to raise $35k for The Grange Junior Development Fund. These funds are used to provide coaching, clinics, trips away and financial support for players.

ANNUAL REPORT 2018

President’s Report Congratulations to our juniors, all listed above in Match, that have been selected for representative teams, won Vardons, State and National events, well done on a great year. Other outstanding junior achievements to note include: • • • •

•

Nick Siegmund: Winner of SSSSA Championship Nick Thompson: Pacific School Games Winning Team Jamie Smith: Pacific School Games Winning Team Millie Whinney: SSSSA State Team and 15 & Under State Champion, Maitland Junior Open Winner Raegan Denton: SAPSASA U12 State Champion, Pacific School Games - Silver Medal Best Nett, Monthly Medal Winner and Tony Mazzone Trophy Winner

To all our Juniors, we wish you a very positive and productive year playing and practicing to improve your game.

MEMBERSHIP Following the continuing success of Membership of the past few years, the 2017/18 membership year finished with an exceptional result, welcoming 131 new members to the Club. This success is a great testimony to all sections at the Club working collaboratively, from the Course staff ensuring the course maintains its standard, to the Clubhouse,

Administration and Pro Shop staff producing a warm and welcoming culture. New members continually choose The Grange over other Clubs because we offer two Championship Courses, outstanding modern Club facilities including gym, locker rooms and multiple practice facilities, all adding to a great sense of community, at a competitive price.

With all these factors in place, the Club Sub-Committees took on more of a maintenance role this year, focusing on the issues that will improve the experience of members.

This included pace of play and ease of booking golf rounds. It also included reviewing standards of practice with regards to presentation of 30, 40 and 50-year medals to show appreciation for longstanding members. At the conclusion of the membership year, The Grange Golf Club had 2081 members. This consisted of 1636 playing members, of which 112 were junior members, and 445 non-playing, social or special honorary members.

At 30 June 2018, Gym @ Grange subscribers sits at 115. Romana, the new nutritionist and personal trainer, working alongside gym operator, Dennis, has increased interest and gym member numbers remain steady.

We are delighted to welcome all of the Club’s newest members, we are positive you will enjoy the experience at The Grange.

TABLE 1. THE GRANGE MEMBERSHIP SUMMARY 2017/18 Category – Playing Rights

16/17

17/18

Category 1 – 7 Day

770

746

Category 2 – 6 Day

416

408

Category 3 – 5 Day

326

332

Category 4 – Cadet & Junior Under 21

77

93

Category 4 – Intermediate 21 & Under 26

24

19

Category 5 – Absent / Non-Playing

360

357

Category 5 – Absent / Non-Playing Under 26

18

17

Category 6 – Corporate

11

15

Category 7 – Fully paid

13

13

Category 8 – Social & Special Honorary

62

71

Other – Ambassador, Professional & Life

15

10

Total

2092

2081

Total Playing

1652

1636

Total Non-Playing

440

445

PROSHOP Head Professional Warren Mercer noted that the last 12 months have been thoroughly enjoyable with the camaraderie of members creating a great atmosphere around the Club.

The staff of the Pro Shop often arrive around 5:00am and do a terrific job making the experience at The Grange more than just a round of golf through their service, hard work and welcoming presence. Thank you to all who support the Pro Shop @ Grange, which has the largest range of any golf club in South Australia. Coupled with the expertise of the Professionals, state-of-the-art technology is available to all members to utilise and hopefully improve their game and enjoyment at The Grange.

HOUSE The combined hospitality recorded a surplus of $148,883 for the Financial Year. The Front of House team together with Kitchen staff and Management are continuously focused on providing an excellent service to create that sense of community when you walk into the Club. The hospitality sector remains at the forefront of importance as it contributes valuable income which is used throughout the Club.

This year we hosted the Mollydooker and Kaesler wine lunches, the Hentley Farm wine dinner and our inaugural Whisky Dinner. These events welcomed a combined 475 people to experience a 5-course meal paired with some of South Australia’s finest wine. Thank you to those who attended and ordered wine to help support these events.

The wine lunches continually prove successful with regular sell-outs well before the date. The Mollydooker wine lunch in particular produced record wine sales in excess of $22,000.

Grilled @ Grange results remain positive averaging 51 patrons over the 97 open nights throughout the year. The grill, especially during the successful Twilight series, continues to provide a chance to expose nonmembers to the Club. It is always great to hear the positive feedback about the consistently high-quality meals

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ANNUAL REPORT 2018

President’s Report which are served at reasonable price.

Thanks to the staff for continuously producing excellent food and service standards that make members and Committee proud to be part of The Grange.

The bistro and grill are facilities we encourage all Members to utilise whether it be after a round of golf or enjoying a night at Grilled @ Grange on Friday and Saturday nights.

FINANCE Financially, The Grange Golf Club has been trending in a very positive direction over the last few years. The 2017/18 period was no exception with a net profit of $168,938 in addition to further debt reductions. This positive result, combined with the induction of 131 new members during the year, places the Club in an enviable position amongst golf clubs as we edge closer to our Destination 2020 – Vision and Strategy goals.

The financials show that the Commonwealth Bank debt and Member Investments were reduced by $550,000 in the 2017/18 year.

However, a precise debt reduction figure is obtained only on the 31st July each year given that our Membership subscriptions fall due on 1st July. The lowest point of debt as at 31st July 2018 stood at $2.48 Million compared to $3.16 Million at the same point 12 months ago. This is another significant reduction of $682,813 and formally makes our Bank debt zero for the first time in over 20 years. Currently, the entire balance of debt is made up of Member Investments in the Club.

Committee and Management are fully committed to reducing the debt over the next couple of years as we begin retiring these Member Investments and closing in on our goal of being debt free.

General capital replacement continued in 2017/18 as per our usual program of mowers, course machinery and golf carts. The major items to note include: • Jacobsen Spraytek Truckster XP300 Spray Unit • 2 x Jacobsen Eclipse 322 Hybrid Mowers

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• • •

Jacobsen Electric Turf Roller Toro Procore 648 Aerator 9 x E-Z-Go RXV Golf Carts

Following the success of our solar power system installed in July 2016, the Club decided to invest in a second 99.9kW solar power system to reduce the Club’s ever-increasing power costs. The initial system was purchased for $107,319 and has saved the Club $59,000 in power costs over the last two years. The new system, commissioned in March 2018 by Origin Energy, cost the Club $138,807 as there are no upfront STC credits on the second system, however we do receive LGC credits over the next 14 years. All the power generated from both systems is fully used and therefore no power has been input back to the grid. We do expect the second system to have a payback period of approximately four years.

•

•

•

Some key observations were made this year from our operating results.

Major input areas for the year ended 30 June 2018 are summarised below and compared to the previous financial year: •

•

•

Following the change in Constitution, the Club took the opportunity to distribute Annual Reports and Subscription notices electronically as well as conducting an online Committee vote. This change saved staff hours as well as $30k in printing and postage costs.

Green fees from visitors, small group bookings, corporate golf and member guests was extremely positive during the year with $479,433 income, a massive $35k surplus on budget, and increase of $60k from last year. The Four Reds program has been very successful for the Club and we continue to gain traction through hosting the Women’s Australian Open with numerous visitors from interstate and overseas playing our course at $200 per round.

The four additional golf carts that we purchased last year, increasing our fleet to 40, proved very popular amongst golfers with more carts available at peak

•

•

•

times. The increased fleet size together with solid visitor numbers contributed to $49k additional cart income this year.

Rental income relating from our telecommunication tower increased by $13.5k this year. We added Optus lines to the original Telstra tower located by the 6th East Green and now receive yearly rental income from both telco companies.

Marketing expenses increased again this year as we ramp up advertising for the Women’s Australian Open in February 2019.

An additional $25k was allocated and we expect to reap the rewards come tournament time.

Clubhouse wages have increased by $55k since last year. However, this is offset by the $45k saving in contracted cleaning. Last year the Club employed its own in-house cleaners giving us additional cleaning hours during the day to keep the facility clean and tidy at all times. The Course Marshal wages were also included in clubhouse wages and made up a portion of the variance from last year. The Marshal continues to be very effective in speeding up play on competition days.

The Gym @ Grange continues to be a solid income earner and when combined with rent from MSK @ Grange contributed $44k this financial year. The facilities continue to be popular with current members as well as being a major draw card for potential members looking to join the Club.

Entrance Fees contributed $231,686 in this financial year.

Contemporary membership was again popular this year with 29 members taking up this option as well as 34 new junior members joining the Club.

The Junior Development Reserve Fund increased this year by $4,096 to $111,774. Junior golf expenses totalled $30,777. However, these were offset by Junior donations of $34,873 thanks to The Grange Junior Foundation Day.

ANNUAL REPORT 2018

President’s Report Overall, it was a very pleasing year in which we returned a solid profit of $168,938 and reduced our debt by $682,813. With the excitement building around the Club for the Women’s Australian Open being held at The Grange in February 2019, we expect to perform at similarly high levels and even surpass the achievements of 2016 when we last held the tournament. The future financial position of our Club is extremely secure and we look forward to showcasing our Club to the world in February 2019.

ACKNOWLEDGMENTS We are privileged at The Grange to have the quality of staff that we do.

From Management to Administration, Hospitality to Green keeping, they continue to do an excellent job to ensure the high standards set by the Club are met with pride, enthusiasm and attention to detail. Their role is to provide members of the Club, as well as guests and visitors to the Club, with the best possible experience a Club can offer, and they do that so well.

In particular however, I would like to acknowledge and thank the following staff for their contribution and commitment towards the betterment of the Grange Golf Club: •

•

•

Barry Linke, the General Manager. His dedication to the Club is unquestionable and his experience and exceptional knowledge are a valuable asset to both myself and the Committee The Administration and Finance team are led by Robert Vincekovic and he, along with the team behind the front office counter, do a wonderful job in keeping the Administration side of the Club in order Rowan Daymond, the Course Superintendent, along with his green keeping staff, have done an excellent job, often in very trying conditions, to present our 2 courses to the highest possible standard for the enjoyment of our members and guests to the Club

•

Warren Mercer, our Club Professional, and his team in the Pro Shop, for providing the best equipped Pro Shop in the state as well as excellent service to both our members and guests, and always with a smile.

• Head Chef, David Clay, along with his kitchen staff have certainly brought some exciting variety to the restaurant and bistro • Dani Caruso, along with the hospitality staff, provide service second-to-none to the members and guests of the Club.

• Dennis Simbol with his Gym @ Grange team, the team from MSK @ Grange and massage therapist, Delina, all of whom provide valuable services which enhances the experience of both members and visitors.

To each and every one of my Committee members I extend my deepest gratitude for their support, guidance and assistance over the past twelve months. We are fortunate to have such a hard working and passionate Committee who play such an integral part in the efficient running of The Grange Golf Club. They have not only made my job as President easier but made this position an extremely rewarding one.

Tony Mazzone Medal Winner Matt Wilson

To the Club Captain, David Lang, for coordinating a great golfing programme over the past year, I am sincerely thankful for his tireless efforts and ongoing support.

Thank you to the Lady President, Jody Kardachi, the Lady Captain, Dianne Lang and the entire Ladies Sub-Committee for their enthusiasm, dedication and tireless efforts they provide for the benefit of our Lady members. It is very much appreciated by all.

On behalf of all members I also acknowledge the ongoing efforts of our Tuesday volunteer group. A huge thank you must go to this group of passionate members who give their time for the betterment of The Grange Golf Club.

2017/18 has been another fabulous year for The Grange Golf Club and I take this opportunity to thank each and every member for their support, encouragement and advice. I am proud to be a member and President of this great Club and look forward to working with you in the future to make The Grange the premier golfing facility in South Australia, providing the best possible experience for its members.

Bruno Battistella President

Course Superintendent Rowan Daymond

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ANNUAL REPORT 2018

Mens Club Events & Named Trophies 17/18 2017

2018

CLUB CHAMPIONSHIP – F McLachlan and P LeMessurier Trophy

Colin Coleman

Mark Demasi

CLUB CHAMPIONSHIP - B CUP

Chey Pearce

Robert Bremert

CLUB CHAMPIONSHIP - C CUP

Paul Sutcliffe

Ray Williams

CLUB CHAMPIONSHIP – A GRADE PLATE

Alex Siegmund

Graham Coleman

CLUB CHAMPIONSHIP – B GRADE PLATE

Dylan Nankivell

Matt Henderson

CLUB CHAMPIONSHIP – C GRADE PLATE

Vinod Kumar

CLUB STROKE CHAMPIONSHIP – Eric Fitzroy Memorial Trophy

Colin Coleman

Colin Coleman

Jay Gilbertson & Matt Wilson Minh Le & March Nguyen

Steve Berridge & Matthew Monsma Alex Clarke & Hudson Brown

CLUB FOURSOMES C GRADE

Ian Ross & John Grinter

Not Played

CLUB FOURSOMES SENIORS

Jung Na & Steve Wohling

Jack Hylton & Rick Kinnear

CLUB MIXED FOURSOMES CHAMPIONSHIP – Arunta Cup and Milton and Merle Hatwell Trophies

Robert & Susan Bremert

GEORGE HOWARD MEMORIAL TROPHY

Daniel Murdoch

David Schirripa

CLUB JUNIOR CHAMPIONSHIP - PR & RG Thomas Trophy

Nick Thompson

Nick Thompson

K Robinson Trophy

Nick Thompson

Nick Thompson

CLUB VETERANS CHAMPIONSHIP - C R Angel Trophy

Alex MacMillan

David Thompson

SUMMER CUP

Gary Dodd & Rod Smith

Charles Breslin & Stephen White

WINTER CUP

Kym Linke & Peter Kelly

PRESIDENTS PLATE and TROPHY

-

James Sarris

CAPTAINS PLATE and TROPHY

-

Michael Coleman

CHAMPION OF CHAMPIONS – Dalton Cup

Matt Lisk

Colin Coleman

ANZAC CUP

Bill Winslow

Neil Laird

PETER HOWARD MEDAL

Stephen Smith

KERRY MCGORM MEDAL

Gianni Di Ciocco

GRANGE AMATEUR OPEN – J Custance Memorial Trophy

Matt Lisk

COMMONWEALTH BANK PLATE and TROPHY

Douglas Callow

PAUL BACKHOUSE MEMORIAL ROSEBOWL – Grange Junior Vardon

Kyle Hayter

CLUB FOURSOMES CHAMPIONSHIP CLUB FOURSOMES B GRADE

Jack Thompson

Frank Vucic

RYDE PARRAMATTA CUP

Mark Corser

Peter Sossic

9 HOLE TWILIGHT EVENT – Ray and Mollie Scudds Trophy

Ann Evans & Dylan Nankivell

Jacky Wiles & Peter Robertson

POZZA CUP

Mark Richards

DRYSDALE PLATE – Parent and Child Event

Craig & Hudson Brown

SA Police Club Plate and Trophy

-

CW Robinson Memorial Trophy

Gerry Papadopoulos

DAVE & JESS MCNALLY MEMORIAL TROPHY

Susan & Jesse Moore

Dani Pearce & Billy Pearce

MIDWEEK SUMMER CUP

John Shannahan & Mark Richards

Paul Whaley & Garry Higgie

MIDWEEK WINTER CUP

Doug Jones & Peter Rankin

Mark Demasi & Steven Hann

HASELGROVE WINES MIXED SERIES

Denis & Deb Underwood

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Anthony Jones

ANNUAL REPORT 2018

Ladies Club Events & Named Trophies 17/18 2017

2018

LADIES CHAMPION

Louise Glennon

Jin Young Yun

B Grade Cup

Jackie Bradford

Nicole Siokis

C Grade Cup

Anne Evans

Barbara Shepherdson

A Grade Plate

Nadine Hill

Joy Prior

B Grade Plate

Merryl Robinson

Helen Sanderson

C Grade Plate

Anne Flaherty

Melissa Grant

VETERAN’S SALVER

Christine Martin

Sue Bremert

VETERANS PLATE

Collette Sharpe

Margaret Stevens

JEAN MCNICOL ROSE BOWL

Jean Foo

Jin Young Yun

Ladies Foursomes A Grade

Sue Hedley & Louise Glennon

Sue Hedley & Louise Glennon

Ladies Foursomes B Grade

Lucy Petherick & Deb Underwood

Kris Tapp & Trudi McNamara

Ladies Foursomes C Grade

Dara Melanson & Jude Carling-Sacharias

Dawn Sparrow & Moira Smith

VETERAN’S CUP

Louise Dearing

JOYCE MORLEY MEDAL

Rosa Salerno

PRESIDENT’S HANDICAP FOURSOMES

Joy Prior & Sue Watson

CAPTAIN’S HANDICAP FOURSOMES

Stephanie Wiltshire & Jan Hinkley

LAUREL WREATH

Jackie Bradford

SHYLIE RYMILL FOURSOMES WEST

Kristine Tapp & Sandra Furnell

Kristine Tapp & Sandra Furnell

SHYLIE RYMILL FOURSOMES EAST

Anne Moschou & Fiona Dunstone

Natalie Rutherford & Caroline Procter

MIXED CANADIAN FOURSOMES

Nicolle Rantanen & Paul Corrick

GRANGE SALVER

Ella Adams

Jin Young Yun

JUNIOR GIRLS CHAMPION

Amelia Whinney

Jin Young Yun

LADIES SUMMER CUP

Sue Hedley & Louise Glennon

LADIES WINTER CUP

Nadine Hill & Lee Sansom

LADIES MOST IMPROVED

Raegan Denton

ARETA TAYLOR MEMORIAL TROPHY INTERNATIONAL BOWL (GOLF SA) SILVER EAST TUESDAY

-

SILVER WEST TUESDAY

Louise Dearing

Leeanne Manuel

BRONZE EAST TUESDAY

Belinda Singleton

Merryl Robinson

KERRY MCGORM MEDAL

Tricia Anderson

SILVER EAST SATURDAY

Lauryn Weatherall

Sue Bremert

SILVER WEST SATURDAY

Sue Bremert

Lauryn Weatherall

BRONZE EAST SATURDAY

Joy Prior

Carmel Giles

BRONZE WEST SATURDAY

Gayle Peacock

Gayle Peacock

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Pot of Gold at The Grange Golf Club (photo thanks to Brand Media & Consulting)

Financial Report For the Year Ended 30 June 2018 Committee Report

14

Statement by the Members of the Committee

15

Statement of Comprehensive Income

16

Statement of Financial Position

17

Statement of Changes in Equity

18

Statement of Cash Flows

19

Notes to the Financial Statements

20

Independent Auditor’s Report

30

ANNUAL REPORT 2018

Financial Report For the Year Ended 30 June 2018 Committee Report Your Committee Members submit the financial report of The Grange Golf Club Incorporated (“the Club”) for the financial year ended 30 June 2018.

The names of Committee Members throughout the year and at the date of this report are: Mr Bruno Battistella Mr Graeme Hand Mr David Lang Prof John Thomas Mr Craig Coleman Mr Kym Linke Mrs Kristine Tapp Mr Craig M Martin Ms Nicolle Rantanen Ms Belinda Singleton

President Vice President Captain Vice Captain Member Member Member Member Member Member

Principal Activities The principal activities of The Grange Golf Club Inc. during the financial year were the provision of recreational golfing facilities.

Significant Changes No significant change in the nature of these activities occurred during the year.

Operating Result The net surplus / (deficit) for the year amounted to a surplus of $168,938 (2017: $164,193).

Matters subsequent to the end of the Financial Year No matter or circumstance has arisen since the end of the year which significantly affected or may significantly affect operations of the Club, results of those operations or the state of affairs of the Club in subsequent years.

Benefits received by Committee Members In accordance with section 35(5) of the Associations Incorporation Act, 1985, the Committee of the Club, hereby states that during the year ended 30 June 2018: (a)

(b)

- no Committee Member; or - no firm of which the Committee Member is a member; or - no entity in which the Committee Member has a substantial financial interest, has received or become entitled to receive a benefit as a result of a contract between the officer, firm or body corporate and the Club, except as stated in Note 19 to the Financial Statements. no officer of the Club has received directly or indirectly from the Club any payment or other benefit of pecuniary value.

Signed in accordance with a resolution of the members of the Committee.

Bruno Battistella President Signed at The Grange Golf Club this 28th August 2018

14

Graeme Hand Vice-President

ANNUAL REPORT 2018

Statement by the Members of the Committee In the opinion of the Committee, the Financial Report as set out on pages 14 to 29: 1.

Presents fairly the ďŹ nancial position of The Grange Golf Club Incorporated as at 30 June 2018 and its performance for the year ended on that date in accordance with Australian Accounting Standards (including Australian Accounting Interpretations), mandatory professional reporting requirements and other authoritative pronouncements of the Australian Accounting Standards Board.

2.

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

This statements is made in accordance with a resolution of the Committee and is signed for and on behalf of the Committee by:

Bruno Battistella President

Graeme Hand Vice-President

Signed at The Grange Golf Club this 28thAugust 2018

15

ANNUAL REPORT 2018

Statement of Comprehensive Income For the Year Ended 30 June 2018 Note

2018

2017

$

$

Revenue Membership

2

Entrance Fees

4,329,269

4,167,362

231,686

223,680

Golfing Activities

3

888,508

781,448

House Trading

4

148,883

192,217

Other Income

5

102,512

83,012

5,700,858

5,447,719

Total Revenue

Expenditure Course

6

2,838,584

2,703,930

Clubhouse

7

801,028

757,701

157,788

191,289

Finance Costs Administration

8

1,325,698

1,242,391

Golfing Activities

9

408,822

388,215

5,531,920

5,283,526

168,938

164,193

-

-

168,938

164,193

Total Expenditure

Net Surplus / (Deficit)

Other Comprehensive Income

Total Comprehensive Income

! (&) '2"' '(- , (+& ) +- ( -! , "' ' " % ,- - & '-,6

16

ANNUAL REPORT 2018

Statement of Financial Position For the Year Ended 30 June 2018 Note

2018

2017

$

$

ASSETS CURRENT ASSETS Cash and cash equivalents

10

265,243

479,145

Trade and other receivables

11

179,826

147,331

Inventories

12

116,628

97,798

Other assets

13

114,610

118,779

676,307

843,053

TOTAL CURRENT ASSETS NON-CURRENT ASSETS Trade and other receivables

11

88,925

118,962

Property, plant and equipment

14

14,929,838

15,387,422

TOTAL NON-CURRENT ASSETS

15,018,763

15,506,384

TOTAL ASSETS

15,695,070

16,349,437

393,064

594,037

-

1,800,000

LIABILITIES CURRENT LIABILITIES Trade and other payables Borrowings

15 16, 24

Amounts received in advance

17

2,224,547

2,280,810

Short-term provisions

18

505,225

515,767

3,122,836

5,190,614

3,951,015

2,706,015

27,043

27,570

TOTAL NON-CURRENT LIABILITIES

3,978,058

2,733,585

TOTAL LIABILITIES

7,100,894

7,924,199

NET ASSETS

8,594,176

8,425,238

8,482,402

8,317,560

111,774

107,678

8,594,176

8,425,238

TOTAL CURRENT LIABILITIES NON-CURRENT LIABILITIES Borrowings Long-term provisions

16, 24 18

EQUITY Retained earnings Reserves TOTAL EQUITY

! (&) '2"' '(- , (+& ) +- ( -! , "' ' " % ,- - & '-,6

17

ANNUAL REPORT 2018

Statement of Changes in Equity For the Year Ended 30 June 2018

Junior Development Note

Balance at 1 June 2016

Retained Earnings

Reserve

Total

$

$

$

8,159,981

101,064

8,261,045

(6,614)

6,614

-

164,193

-

164,193

Balance at 30 June 2017

8,317,560

107,678

8,425,238

Balance at 1 July 2017

8,317,560

107,678

8,425,238

(4,096)

4,096

-

168,938

-

168,938

8,482,402

111,774

8,594,176

Transfer in Reserves Operating Result for the Year

Transfer in Reserves Operating Result for the Year Balance at 30 June 2018

1q

! (&) '2"' '(- , (+& ) +- ( -! , "' ' " % ,- - & '-,.

18

ANNUAL REPORT 2018

Statement of Cash Flows For the Year Ended 30 June 2018

Note

2018

2017

$

$

CASH FLOWS FROM OPERATING ACTIVITIES Membership and other receipts

8,512,416

8,438,738

(7,457,558)

(6,879,127)

(157,788)

(191,289)

897,070

1,368,322

47,091

34,626

Payments for property, plant and equipment

(603,063)

(698,836)

Net cash provided by / (used in) investing activities

(555,972)

(664,210)

Net receipt/(repayment) of external borrowings

(800,000)

(1,000,000)

Net receipt/(repayment) of member borrowings

245,000

288,500

Net cash provided by / (used in) financing activities

(555,000)

(711,500)

Net increase / (decrease) in cash held

(213,902)

(7,388)

479,145

486,533

265,243

479,145

Payments to suppliers and employees Interest paid Net cash provided by / (used in) operating activities

23

CASH FLOWS FROM INVESTING ACTIVITIES Proceeds from disposal of property, plant and equipment

CASH FLOWS FROM FINANCING ACTIVITIES

Cash and cash equivalents at beginning of financial year Cash and cash equivalents at end of financial year

10

! (&) '2"' '(- , (+& ) +- ( -! , "' ' " % ,- - & '-,6

19

ANNUAL REPORT 2018

Notes to the Financial Statements For the Year Ended 30 June 2018 NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The financial statements cover The Grange Golf Club Incorporated (“the Club”) as an individual entity, an association incorporated in South Australia under the Associations Incorporation Act (SA) 1985.

Basis of Preparation The financial statements are general purpose financial statements that have been prepared in accordance with Australian Accounting Standards – Reduced Disclosure Requirements of the Australian Accounting Standards Board (AASB) and the Associations Incorporation Act (SA) 1985.

Australian Accounting Standards set out accounting policies that the Australian Accounting Standards Board (AASB) has concluded would result in financial statements containing relevant and reliable information about transactions, events and conditions to which they apply. Material accounting policies adopted in the preparation of these financial statements are presented below and have been consistently applied unless otherwise stated.

The following is a summary of the material accounting policies adopted by the Club in the preparation of the financial report. The accounting policies have been consistently applied, unless otherwise stated.

Accounting Policies a)

Income Tax The Club is exempt from income tax under Division 50 of the Income Tax Assessment Act 1997.

b)

Inventories Inventories are measured at the lower of cost and net realisable value. Costs are assigned on the basis of first in first out.

c)

Property, Plant & 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 assets are shown at cost less any accumulated depreciation and impairment losses.

Plant and equipment Plant and equipment is measured on the cost basis less depreciation and impairment losses.

The carrying amount of plant and equipment is reviewed annually by the Committee to ensure that it is not in excess of the recoverable amount from these assets.

Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Club and the cost of the item can be measured reliably.

Depreciation The depreciable amount of all fixed assets, including buildings and capitalised lease assets, is depreciated on a straight-line basis over the asset’s useful life commencing from the time the asset is held ready for use.

The depreciation rates used for each class of depreciable assets are: Class of Fixed Asset Plant, Equipment & Furniture Buildings Course

Depreciation Rate 5 % – 40 % 2 % – 15 % 2 % – 10 %

The assets’ residual values and useful lives are reviewed and adjusted, if appropriate, at the end of each reporting period.

20

ANNUAL REPORT 2018

Notes to the Financial Statements For the Year Ended 30 June 2018 d)

Financial Instruments Initial recognition and measurement Financial instruments are initially measured at cost, which includes transaction costs, when the related contractual rights or obligations exist. Subsequent to initial recognition these instruments are measured as set out below.

Classification and subsequent measurement Amortised cost is calculated as the amount at which the financial asset or financial liability is measured at initial recognition less principal repayments and any reduction for impairment.

Loans and receivables - Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market and are subsequently measured at amortised cost. Gains or losses are recognised in profit or loss through the amortisation process and when the financial asset is derecognised.

Impairment A financial asset (or a group of financial assets) is deemed to be impaired if, and only if, there is objective evidence of impairment as a result of one or more events (a “loss event”) having occurred, which has an impact on the estimated future cash flows of the financial asset(s).

In the case of financial assets carried at amortised cost, loss events may include: indications that the debtors or a group of debtors are experiencing significant financial difficulty, default or delinquency in interest or principal payments.

When terms of financial assets that would otherwise have been past due or impaired are renegotiated, the Club recognises the impairment for such financial assets by taking into account the original terms as if they have not been renegotiated so that the loss events that have occurred are duly considered.

De-recognition Financial assets are derecognised when the contractual right to receipt of cash flows expires or the asset is transferred to another party whereby the entity no longer has any significant continuing involvement in the risks and benefits associated with the asset.

e)

Impairment of Assets Financial assets are derecognised when the contractual right to receipt of cash flows expires or the asset is transferred to another party whereby the entity no longer has any significant continuing involvement in the risks and benefits associated with the asset.

f)

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.

g)

Accounts Receivable and Other Debtors Accounts receivable and other debtors include amounts due from members as well as amounts receivable from customers for goods sold in the ordinary course of business. Receivables expected to be collected within 12 months of the end of the reporting period are classified as current assets. All other receivables are classified as non-current assets.

h)

Revenue and Other Income Annual subscriptions are recognised in the subscription year to which they relate with amounts received prior to 30 June being recorded as unearned income at year end. Entrance fees are recognised at the time the member joins the Club. Club levies (bar & dining) charged to members, but unused at the year end, are absorbed into general revenue.

21

ANNUAL REPORT 2018

Notes to the Financial Statements For the Year Ended 30 June 2018 i)

Membership Borrowing Scheme Membership Borrowings (Investment Scheme) are long term borrowings which will automatically be renewed for a 12 month period on 1 July each year unless advised otherwise by the investor no later than 30 June prior. The Club retains the right to repay these borrowings at its discretion at any time. The interest paid was 3.35% for the period ended 30 June 2018. Interest is paid quarterly in arrears, unless alternative payments were requested.

j)

Borrowing Costs All borrowing costs are recognised as expenses in the period in which they are incurred.

Employee Benefits Provision is made for the Club’s liability for employee benefits arising from services rendered by employees to the end of the reporting period. Employee benefits that are expected to be settled within one year have been measured at the amounts expected to be paid when the liability is settled.

Employee benefits payable later than one year have been measured at the present value of the estimated future cash outflows to be made for those benefits.

The provision for employee entitlements to long service leave is accrued based on a percentage related to the employees’ years of service as per the policy adopted by Committee. An accrual of 25% is raised after 4 years of service, 50% after 5 years, 75% after 6 years and 100% after 7 years. Upon reaching 7 years’ service the calculation is based on the accrued hours multiplied by the employees’ pay rate. Historically long service leave has been taken upon termination and therefore on costs are not included.

Goods and Services Tax (GST) Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian Taxation Office (ATO).

Receivables and payables are stated inclusive of the amount of GST receivable or payable.

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

k)

l)

m)

n)

Accounts Payable and Other Payables Accounts payable and other payables represent the liabilities outstanding at the end of the reporting period for goods and services received by the Club during the reporting period that remain unpaid.

Amounts normally paid within 30 days of recognition of the liability.

o)

Critical Accounting Estimates and Judgments The Committee Members evaluate estimates and judgments incorporated into the financial report based on historical knowledge and best available current information. Estimates assume a reasonable expectation of future events and are based on current trends and economic data, obtained both externally and within the Club.

p)

New and Amended Accounting Policies Adopted by the Entity The AASB has issued new and amended Accounting Standards and Interpretations that have mandatory application dates for future reporting periods and which the entity has decided not to early adopt. As at the time of preparing these Financial Statements, the Club has not undertaken an assessment to determine whether any new Accounting Standards will have a material impact on the future financial performance and/or position of the Club.

q)

Reserves – Junior Development Fund The Club Committee resolved in June 2016 to establish and recognise a reserve account called Junior Development Reserve Fund. The purpose of this reserve is to ensure that sufficient funds are set aside for use in funding the development of junior golfers at the Club. This is treated as an equity reserve and has no impact on the financial performance or position of the Club.

22

ANNUAL REPORT 2018

Notes to the Financial Statements For the Year Ended 30 June 2018

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23

ANNUAL REPORT 2018

Notes to the Financial Statements For the Year Ended 30 June 2018

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24

ANNUAL REPORT 2018

Notes to the Financial Statements For the Year Ended 30 June 2018 CB5

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)0 ' (.- #( ,,3#(! ')/(.- Movement in the carrying amounts for each class of property, plant and equipment between the beginning and the end of the current financial year: Total

$

$

Buildings

Course Construction

Course Irrigation

$

$

$

$

$

2,153,451

5,134,950

3,445,748

3,012,607

1,176,505

448,261

15,900

15,387,422

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-

165,798

-

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425,972

11,293

-

603,063

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-

-

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-

(38,470)

-

-

(38,470)

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-

(267,018)

(132,634)

(247,377)

(279,661)

(95,487)

-

(1,022,177)

2,153,451

5,033,730

3,313,114

2,765,230

1,284,346

364,067

15,900

14,929,838

Balance at 1 July 2017

Carrying amount at

Plant & Furniture & Equipment Fittings

WIP

Freehold Land

$

30 June 2018

25

ANNUAL REPORT 2018

Notes to the Financial Statements For the Year Ended 30 June 2018

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ANNUAL REPORT 2018

Notes to the Financial Statements For the Year Ended 30 June 2018 CH5

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27

ANNUAL REPORT 2018

Notes to the Financial Statements For the Year Ended 30 June 2018 DC5

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ANNUAL REPORT 2018

Notes to the Financial Statements For the Year Ended 30 June 2018 DF5

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29

ANNUAL REPORT 2018

Auditors Report For the Year Ended 30 June 2018

30

ANNUAL REPORT 2018

Auditors Report For the Year Ended 30 June 2018

31

ANNUAL REPORT 2018

House Trading Statement For the Year Ended 30 June 2018

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32

ANNUAL REPORT 2018

Summary of Last 5 Years

Number of Members Subscription Rate (exc GST) Staff (including trainees and apprentice staff) - Administration (Full-Time only) - Course (Full-Time Equivalent) - Bar & Catering (Full-Time only)

Members Fund's at End of Year ($,000â&#x20AC;&#x2122;s)

2018

2017

2016

2015

2014

2081

2092

2059

2061

2053

$2,911

$2,773

$2,616

$2,492

$2,378

5.3 20 4.7

5.3 21 4.7

5.3 20 3.7

5.3 20 4.7

5.3 19 4.7

8,594

8,425

8,261

8,159

7,943

33

Australian Menâ&#x20AC;&#x2122;s Interstate Team Series on the East Course (photo thanks to Brand Media & Consulting)

The Grange Golf Club Inc White Sands Drive, Grange, South Australia PO Box 7462, West Lakes SA 5021 Tel 08 8355 7100 Fax 08 8355 7199 info@grangegolf.com.au www.grangegolf.com.au