CYCSA Annual Report 25/26

Membership

Club Sponsors

As at 31.05.2026

The CYCSA thanks its sponsors for their support during 25/26

Life 11

Gold

Foundation 10 Honourary 7 Senior 502 Port Vincent Senior

47

General Member

37

NMAFC 107 Social 132 Racing 118 Associate/Family 36 Youth 29

Silver

Total 1036

Miscellaneous Membership Corporate 14 Contractors 88 Berth Licensee

94

Members on hold

3

Absent Members

16

Corporate

Cruising Yacht Club of South Australia Inc. Lady Gowrie Drive, North Haven South Australia

Youth Sailing Foundation Sponsors

PO Box 1020, North Haven SA 5018 Telephone: Email: Web:

08 8248 4222 reception@cycsa.com.au www.cycsa.com.au

Cruising Yacht Club of SA | 2025/2026 Annual Report

2

Contents Administration

4

Board Committees

4

Club Committees

4

Club Association Committees

4

Life Members

4

Flag Officers

5

Board of Management

5

President’s Report

6

Treasurer’s Report

8

Commodore’s Report

11

Finance, Audit and Risk Committee Report

12

All Associations Committee Report

12

Port Vincent Marina Committee Report

13

Marine Academy Advisory Committee Report

14

Youth Sailing Foundation Report

16

Cruising Association Report

18

Social Association Committee Report

19

Fishing Association Report

21

Racing Association Report

22

Groundswell Editorial Committee Report

25

Club Structure

26

CYCSA Financial Reports

27

3

Cruising Yacht Club of SA | 2025/2026 Annual Report

Administration General Manager

Financial Controller/2IC

Board Committees Jamie Joyce (from May-Sept 25) Kerry O’Brien (Acting General Manager, from Oct 25-Feb26) Catherine Foreman (from March 26) Kerry O’Brien

Club Associations Cruising Association Committee Chair Darren Harvey (Chair, Treasurer) Miguel Alemao, Jack Didyk, Israel Dunk, Rod Hunter, Julie Verco, Adrian Wotton, Michele Bloffwitch, Roger Flint Fishing Association Committee Chair Peter Schembri Vadis Rodato (Deputy Chair and Secretary) Vlad Humeniuk (Treasurer), Glen Simpson, Nathan McArdle Racing Association Committee Chair Rob Human (Chair) Wayne Grant (Safety Officer), Di Schwerdt, Kirsten Roper, Charlie Ryan-Kane, Caillin Howard, David Hughes (Exofficio), Inese Lainis (Racing Manager)

Finance, Audit and Risk Committee Chair Amanda Rice Kerry O’Brien, Peter Hall, David Hughes, Dominic Rinaldi, Lorenzo Mazzocchetti Boating and Training Advisory Committee Chair Doreen Perrin Geoff Catt, Jeff Dinham, Rod Hunter, Mark Hutton, Andrew Saies, Luke Allison (Head Coach) Facilities Committee Chair Aaron Low David Hughes, Mark Hutton, Craig Evans, Nicholas Dodd (Marina Manager), Scott Vercoe, Jamie Joyce (General Manager, until Nov 25), Catherine Foreman (General Manager, from Mar 26) Defence Steering Group Chair Mike Holmes Adam Priestley (Setting a New Course), Catherine Foreman (General Manager)

Social Activities Association Committee Chair Adrian Wilson (until April 26) Erin Labadas (Chair from May 26) Jacqueline Heffernan (Secretary), Paul Williams

Other Committees CYCSA Insurance Fund Advisory Committee Chair Rob Sellick David Roper (Board Ex-officio), David Everett, Graeme Footer, Wayne Grant, Steve Perkins

Other Associations The Cruising Yacht Club of SA is a member of the following Associations: Boating Industry Association, Australian Sailing, Marina Industries Association, Clubs SA, Yachting South Australia, Recreation SA, Restaurant & Catering.

Groundswell Committee Chair Gay Footer Pat Catley, Dianne Schwerdt, Mellissa Vahoumis

Life Members

Port Vincent Marina Committee Chair Andrew Abbott Peter Codrington, Greg Hackett, Rob Jacobs, Geoff Catt, David Roper, Rob Marner (Ex officio)

Geoffrey R Boettcher, Geoffrey R Catt, Craig A Evans, Richard H Fidock AO, Gay Footer, Graeme L Footer, John Gerard, Jacqueline Heffernan, Rod C Hunter, Andrew D Saies, Robert J Sellick [deceased: Arthur F Carolan, James A Henry, Malcolm A Kinnaird AC, Peter J Page]

Cruising Yacht Club of SA | 2025/2026 Annual Report

All Associations Committee Chair Andrew Saies Darren Harvey, David Roper, Rob Human, Peter Schembri, Di Schwerdt, Rod Hunter, Mike Holmes, Adrian Wilson (until Apr 26), Erin Labadas (from May 26)

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Board of Management and Flag Officers

David Roper President

David Hughes Treasurer

Mike Holmes

Aaron Low

Doreen Perrin

Amanda Rice

Jamie Joyce General Manager (until Sept 2025)

Catherine Foreman General Manager (from March 2026)

Andrew Saies Commodore

Di Schwerdt Vice Commodore

Mark Hutton

Pat Catley Rear Commodore

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Cruising Yacht Club of SA | 2025/2026 Annual Report

President’s Report The 2025-26 year was a busy and sometimes challenging one for the Cruising Yacht Club of South Australia. Alongside another full program of sailing, boating, social and hospitality activities, the Board and Management dealt with several important operational and compliance matters, progressed planning for major infrastructure renewal, and laid important groundwork for the years ahead. Leadership and organisational change At the beginning of the financial year, Jamie Joyce had recently commenced as General Manager and undertook a detailed review of the Club’s operations. That work identified a need to strengthen a number of areas including safety management, regulatory compliance, asset management, emergency readiness, staff capability and operational resilience. As the extent of that work became clearer, the Board and Jamie agreed that his specialist skills should be focused on delivering this improvement program while a new General Manager was recruited to lead normal Club operations and future growth. Jamie left the Club in December after delivering a number of key improvements, for which we sincerely thank him. Kerry O’Brien again stepped into the Acting General Manager role during the transition, in addition to her responsibilities as Financial Controller, and I thank her for the considerable contribution she made. In March we welcomed Catherine Foreman as General Manager. Catherine brought substantial experience in sport and leisure facility management and a strong record of managing operations and finances. Her early priorities included strengthening Club structure and processes, improving how Members and volunteers engage with the Club, and bringing greater consistency to event planning, delivery and day-to-day service for Members, volunteers and visitors.

and government regulators to establish an appropriate operating model. I am pleased that these compliance issues were subsequently resolved and the affected activities were able to resume. We also undertook the urgent replacement of the slipway rails. This was a substantial and unavoidable project which disrupted slipping operations for a significant period, but was necessary to maintain this important Member service. The most significant infrastructure project ahead of us is the renewal of Marina East. At around 50 years old, continual patching of the marina is no longer a sustainable solution. Investigations have identified deterioration not only in the concrete walkways and structural attachments, but also in electrical distribution, water and other services. The Facilities Committee was re-established in February to assist the Board with the strategic management of the Club’s physical environment and assets, with Marina East redevelopment its most substantial medium-term task. The Club subsequently progressed preparations for a competitive procurement process for the Marina East redevelopment, including development of a detailed specification and scope of work and modelling of funding options. Our objective is to deliver a rebuild with a design life of approximately 50 years. Sailing, participation and community Despite the operational challenges, the Club remained busy on and off the water. Our Racing, Cruising, Fishing and Social Associations continued to provide a wide range of activities, while the Youth Sailing Foundation, Marine Academy and Elliott 7 program continued to provide important entry points into sailing and Club participation.

Safety, compliance and our assets A major focus throughout the year was making sure our facilities and boating operations meet current regulatory, insurance and safety requirements.

During the year the Board established a Defence Steering Group to build stronger links between CYCSA and South Australia’s defence community. Its role includes connecting defence-sector sponsors and participants with the Marine Academy, Elliott 7 program and initiatives such as Setting a New Course, and increasing engagement with serving personnel, veterans and the defence industry.

From June 2025, new requirements affecting Domestic Commercial Vessels created significant challenges for Southern Investigator and two of our RIBs. Some Marine Academy courses were temporarily suspended while Management worked with Australian Sailing, our insurer

Opening Day in October was again a highlight of the Club calendar, and we were honoured to welcome Her Excellency the Honourable Frances Adamson AC, Governor of South Australia, to officially mark the beginning of the 2025-26 season.

Cruising Yacht Club of SA | 2025/2026 Annual Report

6

President’s Report Club culture, volunteers and events During the latter part of the year the Board began placing greater emphasis on the way we work together as a Club. Our Culture Code is centred on Transparency, Respect and Unity. Our Members bring a wide range of backgrounds, personalities and views to the Club. Healthy discussion and disagreement are part of Club life, but they must still be conducted with civility, goodwill and mutual respect. Volunteering is another important part of Club culture. The events, activities and sense of community we enjoy depend heavily on Members being willing to contribute as well as participate. We identified a need to improve how the Club attracts, supports and retains volunteers, including better matching of Members’ skills and availability with opportunities, clearer roles and communication, skills development and improved recognition. We also saw a need to improve how some events are planned and managed. This is not about adding unnecessary bureaucracy to successful events. It is about clearer planning, budgeting and success criteria, together with practical tools that make it easier to repeat what already works. Strategy and financial position Towards the end of the year the Board commenced a refresh of the Club’s strategic plan. The existing plan remains useful, but it is time to take a fresh look at the Club’s longer-term direction, the challenges we face and the opportunities available to us. Financially, the year was challenging in several operating areas. Hospitality was affected by lower patronage and the impacts associated with the algal bloom, slipping revenue was interrupted by the slipway works, and Marine Academy and sailing operations were affected by vessel compliance and readiness issues. Nevertheless, the Club’s overall financial position remained sound and the Board and Management continued to work on each of the underlying performance issues.

Our people There were also important changes in the leadership of the Club. During the year we welcomed Aaron Low and former Commodore Mike Holmes to the Board, while thanking Garth Heynen and Troy Smith for their service as Directors. Andrew Saies was appointed Commodore, supported by Vice Commodore Dianne Schwerdt and Rear Commodore Patricia Catley. I thank Mike Holmes for his preceding service as Commodore and Vice Commodore and for his strong advocacy for the Club. It was also a pleasure to recognise the sustained contribution of Rod Hunter and Rob Sellick through their appointment as Life Members. Both have given many years of service across sailing, training, racing, cruising and Club committees and are worthy recipients of this honour. Thanks None of this happens without the people who contribute to the Club. I thank our staff for their professionalism through a year involving considerable change, my fellow Directors and Flag Officers for their commitment and judgement, our sponsors and partners for their continued support, and particularly the many Members who volunteer their time and expertise. We enter the new financial year with substantial work ahead, particularly the renewal of Marina East. There is also much we can improve in how we operate and support our Members, employees and volunteers, while continuing to build CYCSA’s position within the South Australian sailing and boating community. David Roper President

Our Sinking Fund continued to provide an important financial foundation for the renewal of major Club assets. At 31 May 2026 it stood at $7.36 million, after the $625,000 withdrawal towards the slipway upgrade.

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Cruising Yacht Club of SA | 2025/2026 Annual Report

Treasurer’s Report I am pleased to present the financial report for the consolidated Cruising Yacht Club of South Australia for the financial year ending 31 May 2026 (FY26).

Revenue Our total revenue (excluding the sinking fund) has declined by 4.8% from $5,132,495 to $4,884,377, a drop of $248,118. Hospitality has declined by $163,886, ramp income has declined by $46,733, slipping revenue down by $89,538 and Marine Academy down by $23,611. This has been offset by growth in Youth Sailing Foundation of $29,824 (up 60%) and Membership/Corporate Fees up by $80,572 (3.6%).

Our Club remains financially very strong with cash reserves, a well performing sinking fund and access to borrowings if we need. This year however has been very challenging with three major operational events occurring which have had a significant impact on our financial performance. I will describe in detail each of these.

The Board has been very conscious of the increased cost of living and therefore held increases in membership and corporate fees to under 4%.

Firstly, our Ramp income has been negatively affected by the algal bloom across the year which has limited the fishing activity and use of the ramp.

Revenue Stream 25/26 (excluding sinking fund revaluation) $4.9m

Secondly, our slipway needed to be closed for safety reasons and replaced which meant the slipway was closed for nearly six months. This again negatively impacted our slipping revenue. Thirdly, due to identified compliance matters, our Marine Academy needed to be closed, also for nearly six months, to ensure the appropriate licensing and compliance matters were attended to, ensuring the safe and compliant operation of this important part of our Club. Again, this had a negative impact on our Marine Academy revenue. All these matters have now been addressed and I am confident will not re-occur. Unfortunately, this has led to our revenue (excluding the sinking fund) declining by nearly 5% from $5,132,495 to $4,884,377.

Racing Assoc 2%

Marine Academy 2%

Other income 4%

Ramp 1% Berth sales & leasing 4% Licence to occupy berths 3%

Hospitality 29%

Investment revenue 5% (inc sinking fund)

Membership fees 15%

In addition, our sinking funds return has reduced from the exception year in FY25 (delivering revenue of $713,808, over 11%) to a more modest return in FY26 of $329,648, still delivering over 5% return, a reduction of $384,160 on last year’s income. As a result of these declines in total revenue, together with increasing costs, particularly insurance and repairs and maintenance, we have reported a net loss for the year (after depreciation) of $156,165.

Corporate fees 32%

Corporate fees Port Vincent 14%

Our takings through hospitality have also declined this year, partly through reduced functions but also from membership numbers not growing and members not dining as often. This is a matter currently being dealt with by management.

Marina West 17%

Hardstand 15% Membership

We have seen positive growth across Youth Sailing Foundation and Elliotts program with initiatives such as Veterans Sailing, Adelaide University Sailing Club, Women’s training and keel boat regattas providing great vibrance and support for our Club.

Cruising Yacht Club of SA | 2025/2026 Annual Report

YSF 2%

Slipping 1%

North Haven 91%

Marina East 54%

Racing 4% Port Vincent 5%

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Treasurer’s Report Expenditure

Cashflow

Total cash expenses for the year have increased by $139,635 (3.2%) with major increases in insurance and repairs and maintenance. Employee benefits expense has also increased through the use of temporary staff to assist in times of need plus the costs of transitioning the General Manager position.

Depreciation of $640,600 has been charged for the year, again up 5% as we continue to invest in capital assets. This is a non-cash charge and therefore, whilst we have reported a net loss of $156,165, our Club has generated over $400,000 in cash. This, together with some drawdowns from the sinking fund, has allowed us to invest over $800,000 in new assets during the year. The majority of this was the slipway replacement ($652k) and fire equipment upgrades ($84k).

Insurance costs have grown by $17,822, up nearly 12% reflecting a difficult global insurance market. Repairs and Maintenance costs are also up $62,434, inclusive of $38k of non-capital repairs to the slipway structure, reflecting the Club’s aging infrastructure which continues to require maintenance to maintain serviceability.

Expenditure 25/26 (including capital expenditure) $6.0m

Other expenses 9% Hospitality 11%

Property Maintenance 4% Insurance 3% General office exp 3% Rates, taxes & utilities 7%

Salaries 37%

Capital expenses* 15% *consolidated a/c additions net of disposals) Depreciation 11%

Sinking Fund Investment Allocation (value at 31 May 2026 $7.4m)

International shares 13%

Cash 3%

Australian core equities 39%

Managed funds 32%

Interest rate securities 8%

Emerging companies 5%

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Cruising Yacht Club of SA | 2025/2026 Annual Report

Treasurer’s Report Outlook

The table below shows the historical financial performance of the Club over the past 10 years. The table shows on an annualised basis both the operating surplus and EBITDA (earnings before interest, tax, depreciation and amortisation).

We have a financially strong club after a difficult year. Steps have been put in place to address many items including hospitality revenue, member’s value assessment and growth, racing participation and general Club activities. In addition, we have already seen growth in Marine Academy revenue through a very positive course structure, Youth Sailing continues to grow, slipping is currently booked out and very positive, our ramp ticket revenue will re-commence in November when the State Governments’ algal bloom free entry period expires.

Year

The sinking fund is holding firm and continues to give us confidence in the financing of major assets over the coming years, including the replacement of Marina East. Ongoing vigilance is required to maintain control on expenses and ensure our Club maintains the financial capacity to maintain and invest in the future. David Hughes Treasurer

The Club and its management continue to embrace strong corporate governance and a positive corporate culture both at Board level and across all business areas. A summary of the last three years key financial statistics is set out in the following table. A summary of the last three years key financial statistics 2026

2025

2024

$

$

$

Revenue

4,943,511

5,562,341

5,508,725

Net Surplus

-156,165

632,468

801,450

Income Statement

Balance Sheet Current Assets

8,174,007

8,388,639

7,477,987

Non-current Assets

17,435,932

17,202,763

17,496,491

Current Liabilities

1,086,085

1,226,302

1,088,721

Non-current Liabilities

3,865,780

3,674,227

3,825,552

Net Assets

20,658,074

20,690,873

20,060,205

Cruising Yacht Club of SA | 2025/2026 Annual Report

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Operating Surplus

EBITDA-CYC Inc

$’000

$’000

2016

484

733

2017

406

568

2018

345

700

2019

2,437

2,476

2020

215

1,138

2021

1,751

1,276

2022

423

464

2023

126

867

2024

801

705

2025

632

638

2026

-156

246

Commodore’s Report At the end of the reporting period 31/05/2026, I had completed nine months as your Club Commodore. I thank the Board for appointing me and hope that I have been able to represent the values and culture of the CYCSA, both within the club and its various activities, as well as outside to the broader boating community and public. I thank and acknowledge the work of vice Commodore Di Schwerdt and Rear-Commodore Pat Catley. They have both been instrumental in assisting me at various Club and external events and giving me some guidance on the role of Flags in the current era of the Club. It is nearly ten years since I was last on the Board as President and not surprisingly, there has been a number of changes within the Club assets, activities and personnel over that time. Though I have maintained my contact with the Club through racing and committee involvement, the last nine months have seen me increase that involvement in a variety of areas. It has been rewarding to again be involved at this senior level in Club life.

Our women’s sailing program and partnerships with Adelaide University, Veterans and Defence, using the Club Elliotts continue to bring new interest groups into the Club and the sport. Congratulations to Yacht of the Year Dr Feelgood 3 and Crew person of the Year, Sean Hackett

Pat Catley has indicated that she will not continue as RearCommodore and so will end her term at this AGM. On behalf of all Club members both Di and I wish to thank Pat for all she has done in her role as Rear Commodore. Her signature event undoubtedly has been the Thursday evening Club draw at which she provides a number of updates on up-andcoming events and activities as well as ensuring fairness in the draw of the raffle and the spin of the barrel. Thank you for all you have done for the Club over many years.

I wish to thank Darren Harvey and his committee for all the work that has been done in reinvigorating the Cruising Association. The variety of events, the Club friendly casual Saturday night BBQs and a range of cruises in company have seen this part of the club revitalised again in this reporting period. At the time of publication, Darren has indicated that he will step down as the Chair, handing the baton on to Roger Flint and Julie Verco. Darren will never be too far from the activities of this Club and we thank him for his enthusiasm, drive and organisational effort.

At season beginning Di, Pat and myself were able to attend a number of other yacht club openings and I know this is appreciated by those clubs. I wish to acknowledge and thank Di Schwerdt in particular for all the work she has done in developing and supporting the South Australian Women’s Keelboat Regatta held in the October each year. I would also like to acknowledge and thank both Di and Pat for the work that they do for Groundswell. The appointment of a new General Manager in Catherine Foreman has certainly stabilised the operations of the Club and has led to some much-needed background office work and asset management work being reviewed and undertaken. This has importantly given the Associations and their committees, along with the Board substantial confidence in Club operations which has seen several important issues resolved within the Club. In turn, the Associations are showing increased levels of activity and engagement with the Club and its management. This has led to improved satisfaction amongst many in the Club following a period where this was just not the case. On the sailing front, I would like to thank and acknowledge Rob Human who has chaired the Racing Executive committee for six years. Rob’s enthusiasm, skill and experience have been a tremendous asset to the Club and its sailing members and to keelboat racing in South Australia generally. In addition, Rob has mentored and assisted many boats and many crews reach a more competitive and enjoyable standard of yacht racing by his direct involvement in the sailing programs of those boats and teams. It is worth noting that Rob who has competed in 25 Sydney to Hobart Races is also a two-time Sydney Hobart Tattersall's Cup winning crew member.

I wish to thank the outgoing Chair of the Social Association, Adrian Wilson and thank him for his involvement on that committee which has now been re-constituted under the enthusiastic leadership of Erin Labadas. Despite the devastation of the coastal waters algal bloom, the Club’s Fishing Association continues to find activities and events that engage their members. I heard recently from a non-club member who attends the annual Crabbing Day that this year’s was one of the best yet. I thank Peter Schembri and Vadis Rodato for their efforts in looking after this Association. Let’s hope that increasing fish numbers and fair weather see that Association back to its full strength of activities this summer.

Our Boating Conversations continue to be very popular evenings and this is largely due to the efforts and enthusiasm of Life Member Rod Hunter. As Commodore I attend ex-officio at Board meetings and bring both opportunities and issues to the attention of the Board. I have represented members at the strategic planning meetings, the Australian Sailing SA Summit, and continue to sit on the combined Marine Academy and Youth Sailing Foundation committees now known as the Training and Boating Operations Committee. While my vessel True Blue spends more time in the dock than at sea, I am enjoying my gradual emergence into the cruising way of life at the CYCSA, while still not being able to resist an occasional Wednesday night twilight in summer. Whilst there are plenty of challenges ahead including Marina East replacement, we still have the best marina, Club and facilities for boating in South Australia. I commend the Club and all that it does for members and wish you all a safe and successful up and coming boating season. Andrew Saies Commodore

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Cruising Yacht Club of SA | 2025/2026 Annual Report

All Associations Committee Report

Finance, Audit and Risk Committee Report

The Association Chairs, President, Flag Officers, Boating Conversations convenor and Defense interest group chair reconvened for regular three-monthly meetings from February this year, chaired by the Commodore.

The CYCSA Finance, Audit and Risk Committee continued to play an important role in supporting the Board throughout 2025-26, providing independent oversight, advice and recommendations on the Club’s financial performance, governance framework and risk management responsibilities.

These meetings receive reports on current and up and coming events across all of the Club activities and Associations. Some rigor has been introduced to setting the Club’s master calendar for the year, slotting in regular and recurring events into dates that work for the Club, staff, volunteers and event organisers. This to ensure that events that require a function room and or food and beverage catering can be supported by staff and volunteers. Multiple functions at the same time present a challenge to food and beverage in particular. It is equally important to check on the Club’s ability to support any additional on or off water events, as despite how good an idea it might be, the timing and resources needed should be fully coordinated, discussed and approved by the General Manager before promoting that event. While many reports are specific to each interest group or Association the meeting provides forum for ideas or topics that might benefit the Club overall with the recurrent themes being how to increase interest and participation in on and off water activities. A general consensus that increasing the value and variety of these experiences for members will achieve this. The other common challenge is finding and engaging volunteers to join committees, support events and build activities. Both of these areas will remain central to the All Associations meetings next year. The Associations all flagged or initiated changes to committee positions for 2026 and it is pleasing to see new faces getting involved in Club life. My Commodore’s report notes those changes in more detail. I would like to thank all those in attendance for your time, your ideas and your concern for the Club and its members.

The Committee currently comprises Amanda Rice (Chair), David Hughes (Club Treasurer), Peter Hall, Lorenzo Mazzocchetti and Dominic Rinaldi, with support provided by Catherine Foreman (General Manager) and Kerry O’Brien (Financial Controller). As a sub-committee of the Board, the Committee does not hold delegated decision-making authority but provides advice and recommendations to the Board while monitoring financial performance, governance obligations and strategic risks facing the Club. A significant area of focus during the year was the increasing financial and operational risks associated with ageing infrastructure and assets. Like many yacht clubs across Australia, the Club faces rising maintenance costs, increasing compliance obligations and growing expectations regarding facilities, member services and asset reliability. These challenges reinforce the importance of long-term financial planning and prudent stewardship of the Club’s resources. Accordingly, the Committee has worked closely with management and the Board to assess future capital requirements and ensure adequate provision is made through the Club’s Sinking Fund. While the Fund continues to perform its intended role of supporting future capital renewal and major asset replacement, the Committee recognises that a number of critical infrastructure assets will require increasing investment over coming years. Drawing appropriately on the Sinking Fund to support asset renewal, whilst maintaining the longterm sustainability of the Fund, will continue to be a key consideration for the Board. The Committee also oversaw the review of the annual budget, external audit process, and statutory financial statements.

Andrew Saies Commodore and Chair

Looking ahead, the Committee’s priorities will focus on long-term financial sustainability, funding options for delivery of the CYCSA’s Strategic Plan, capital asset renewal, governance improvement, and continued enhancement of the Club’s risk management framework. Particular attention will be given to balancing investment in ageing infrastructure with the need to preserve the Club’s financial strength and ensure it remains well positioned to serve current and future generations of members. Amanda Rice Chair

Cruising Yacht Club of SA | 2025/2026 Annual Report

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Port Vincent Marina Committee Report The Port Vincent Marina Committee (PVMC) has continued its work throughout the year to enhance the experience of members at Marina Port Vincent, while encouraging greater use of the marina, stronger communication and increased engagement. The committee has held quarterly meetings throughout the year, which have proven to be both productive and informative. Our primary goals continue to focus on enhancing the enjoyment of Marina Port Vincent’s facilities, improving communication, engaging new members and collaborating with other associations. The ongoing issue concerning native birds at Port Vincent Marina remains a significant challenge. A key concern at each meeting has been cleanliness, primarily due to issues with native birds. While the CYCSA is exploring various bird control initiatives, the committee believes that increasing activity and usage at the marina is the most effective deterrent against native birds. Activity is what is required to keep the native birds away, and all other options so far have had very limited success. We are actively promoting activities at Port Vincent Marina and welcome feedback from CYCSA members and other club associations on how to enhance the use of the marina and its facilities. In response, the committee is currently exploring options for liveaboard and long-term stay opportunities to boost activity at the marina. The Port Vincent Marina Committee have collaborated with the CYCSA to install a shared Davis weather station at the marina, enhancing our ability to monitor actual site conditions. Special thanks to Greg Hackett for his thorough proposal and research presented through the Port Vincent Marina Committee to the CYCSA. Port Vincent, along with other towns on the York Peninsula, is still experiencing the economic impact of reduced tourism. These communities could greatly benefit from any support or business we can generate during this challenging period. We encourage everyone to plan a visit to Port Vincent, support local businesses, and take advantage of the excellent CYCSA facilities available. We are dedicated to further enhancing the Marina Port Vincent experience for all members. A heartfelt thank you to Committee members Geoff Catt, Peter Codrington, Rob Jacobs, Greg Hackett, Port Vincent Marina Manager Rob Marner and CYCSA President David Roper for your unwavering support and participation in making this year a success. We look forward to seeing you across the gulf. Andrew Abbott Chair

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Cruising Yacht Club of SA | 2025/2026 Annual Report

Marine Academy Advisory Committee Report The CYCSA Marine Academy after overcoming some Australian Maritime Safety Authority compliance issues around our RYA Instructors needing to become Sailing Master Offshore accredited due to changing marine legislation had a solid year in terms of numbers of students through our range of courses. The Academy also supports initiatives that provide accessible pathways into different areas of sailing. The successful South Australian Women’s Match Racing program gave women the opportunity to experience and compete in match racing at low cost, using the Club’s Elliott 7s and complementing the Academy’s broader training activities. The Elliott 7 fleet is also used for Setting a New Course, previously known as the Veterans SA Program, which has shown strong growth in participant numbers and continues to provide an important pathway for participants to develop their sailing skills and remain actively involved in the sport. There is also some room for growth in private training and International Certificate of Competence (ICC) training. Marine Safety Works is our provider of Sea Safety and Survival Courses and is meeting the demand of CYCSA and other South Australian clubs such as the RSAYS for this qualification. At the time of writing the new 2026-27 Training Program has just been released with some 53 courses planned between September 2025 and May 2026. It also remains the case that we can offer private courses both to individuals and groups by negotiation. Courses Courses run and total number of participants for the year were as follows:

Course

23/24 24/25 25/26

Safety Sunday

17

27

35

Start Yachting

56

35

39

Discover Sailing

32

31

20

Competent Crew

26

29

29

Powerboating

13

20

24

Marine Radio

21

19

11

Day Skipper Practical

19

13

18

International Certificate of Competence (ICC)

4

4

6

Boating Essentials for Women

11

10

7

Other/Private

10

18

10

Cruising Yacht Club of SA | 2025/2026 Annual Report

Human Resources The Marine Academy could not function without depending on a fine group of Instructors who collectively cover a diverse range of boating expertise. Peter Chambers took over as Principal of the Marine Academy in November of 2025 and is also the Chief RYA Instructor and the only instructor with an RYA Yachtmaster Instructor YMI qualification which is required for the RYA Training Centre to be compliant. It would be worth considering having another of our instructors work towards getting the YMI qualification. We thank David Royle for his expertise and wide range of skills in managing the Marine Academy for many years and wish him well in his future endeavours. Rod Hunter after many years of instructing in the Marine Academy has decided not to revalidate his RYA qualifications. Rod does however have a current AMSA Sailing Master Near Coastal valid qualification and can take participants out sailing on Southern Investigator but not sign off on RYA courses. Mark Hutton and Vernon Schultz are our other RYA Cruising Instructors with Vern to revalidate his qualification in October this year. Nicholas Neale who is the National Participation Coordinator for Australian Sailing and is based at Largs Bay has been delivering the bulk of our Powerboat Handling Courses and Luke Allison is also able to deliver this course. Guy Wogan-Provo in his role as Boating Operations Manager continues to maintain all of our vessels that are used by the Marine Academy at the level required to meet our training accreditation and compliance standards. The Marine Academy also appreciates and recognises the efforts of the Club’s administrative staff and outgoing Sailing Operations Manager Greg Allison including the Advisory Committee members, all of whom have supported the Academy in their various capacities. Assets Southern Investigator our Cyclades 43 Beneteau training vessel remains the Academy’s primary asset and is an excellent fit for our RYA training needs. CYC 3 is the primary vessel for Powerboat Handling courses and the Elliott 7s and Pacers are used by Luke Allison to conduct Australian Sailing courses. Marketing and Administration The transition of course participants into members remains a priority. Great work undertaken by Rod Hunter and other instructors in welcoming and introducing new trainees to the Club through twilight ‘follow the fleet’ sailing is most appreciated. Moreover, the popular monthly Boating Conversations on Friday evenings, also championed by Rod Hunter, has been a great success. With a broad range of topics and attendees, numbering up to 100 on some evenings, I am assured that these events will continue. The Marine Academy continues to advertise successfully through the Club’s social media platforms which are always maintained to a high standard by Mellissa Vahoumis, the CYCSA Marketing and Communications representative.

14

Financials The financial statement included in this report show a negative result of $41,817 for the financial period. We thank IC Frith, our Insurance brokerage firm, for their continue sponsorship in support of the Marine Academy and safe boating. As in recent years, members were invited to contribute tax deductible dollars to the Marine Academy Foundation to support the activities of the Academy. Contributions and members’ support for the scheme once again was fantastic with $7700 donated. Finally, a big thank you to my fellow Boating & Training Advisory Committee members - Andrew Saies, Geoff Catt, Jeff Dinham, Mark Hutton and Rod Hunter. Your voluntary time and deep expertise are much appreciated and valued. Doreen Perrin Boating & Training Advisory Committee Chair

Income Statement 2025/2026 Income

$

SSSC and Update Safety Day Start Yachting Discover Sailing Live Aboard Courses RYA/AS Theory Marine Radio Powerboat Courses ICC Direct Assessment Sponsorship Womens Boating Essentials Private Lessons

(4,126) 1,948 19,356 1,897 48,173 668 3,008 3,894 5,828 2,500 916 1,579

Total Income

$85,641

Expenses SSSC and Update Safety Day Start Yachting Discover Sailing Live Aboard Courses RYA/AS Theory/Online Courses Marine Radio Powerboat Courses Instructors Training Private Lessons ICC Direct Assessment Salaries and on costs Womens Boating Essentials Course books Fuel for boats Repairs & Maintenance - CYC Boats Compliance/Safety Expenses Other Expenses

0 1,134 840 185 11,727 3,064 1,643 2,375 4,303 2,350 2,500 76,997 656 2,919 3,306 7,328 4,120 2,011

Total Expenses

$127,458

2025/2026 Result

($41,817)

15

Cruising Yacht Club of SA | 2025/2026 Annual Report

Youth Sailing Foundation The 2025–26 season has been another year of growth, development and achievement for the CYCSA Youth Sailing Foundation. With a strong focus on creating opportunities for young sailors to develop their skills, confidence and leadership, the Foundation continues to build a clear pathway from introductory sailing through to competitive fleet and match racing. Interstate competition, success at the Fred Neill Match Racing Championship, the continued growth of our School Holiday Programs and increased participation in women’s sailing have all contributed to an exciting year for the YSF. These achievements reflect the commitment of our young sailors, coaches and volunteers, and provide a strong foundation for continued growth in the seasons ahead. Australian Youth & Open Match Racing Championships For the second consecutive year, the CYCSA Youth Sailing Foundation travelled to Hobart to compete in the Australian Youth & Open Match Racing Championships. Building on the experience gained from our first trip in 2024–25, the team returned with greater confidence, experience and understanding of match racing at a national level. The CYCSA youth team produced a fantastic result, finishing 5th overall in the Youth Championship and narrowly missing out on the finals by just one race. The result was another important step forward for the Youth Sailing Foundation and demonstrated the continued development of our young sailors. Competing against some of the best youth match racing teams from around Australia provides invaluable experience and continues to strengthen the pathway we are building at the CYCSA. Fred Neill Match Racing Championship One of the biggest achievements of the 2025–26 season came at the Fred Neill Match Racing Championship, with Fraser Baker and his CYCSA youth team taking out the overall victory. After finishing runner-up at the event, the previous year, Fraser and his team returned determined to go one better and delivered an outstanding performance to win the championship. The victory was particularly significant, with the team becoming the first youth team to win the Fred Neill Match Racing Championship and securing the first CYCSA victory in the event since Geoff Boettcher in 2002. It was a fantastic achievement for the sailors and a proud moment for the Club, highlighting the progression of the YSF squad and the strength of the youth match racing pathway being developed through the Elliott 7 program. Veterans Participation The Setting a New Course program, previously known as Veterans SA, has continued to grow strongly throughout the season, with 255 participants taking part during the period. The program provides an opportunity for members to stay active on the water, build sailing skills and enjoy the social and competitive aspects of sailing.

Cruising Yacht Club of SA | 2025/2026 Annual Report

16

Youth Sailing Foundation Growth The CYCSA Youth Sailing Foundation continues to grow and strengthen, with five new youth sailors joining the squad heading into the 2026–27 season: Summer Newman, Steph Johnson, Ellia Jones, Oscar Fickling and Paige Grigg. A particularly positive outcome has been seeing sailors progress through the Club’s School Holiday Programs and into the YSF squad. These programs provide young sailors with an introduction to the Elliott 7s while developing the fundamental skills and knowledge required to compete in both fleet and match racing. This pathway continues to be an important part of the Club’s youth development program, giving young sailors an opportunity to progress from introductory sailing through to structured training and competitive racing. School Holiday Programs Our School Holiday Programs have continued to be a great success throughout 2025–26, providing an accessible entry point for young sailors wanting to develop their skills and experience keelboat sailing. A major focus has been introducing participants to the Elliott 7s and building their understanding of teamwork, boat handling, communication and racing. It has been particularly rewarding to see participants from these programs progress into the Youth Sailing Foundation squad. The continued connection between our introductory programs and YSF demonstrates the importance of creating a clear pathway where young sailors can learn, develop and ultimately represent the CYCSA in competition.

Growth in Women’s Sailing Women’s sailing has continued to be an important area of growth at the CYCSA throughout 2025–26, with increasing participation across both our Elliott 7 programs and Youth Sailing Foundation. A major highlight was the SA Women’s Match Racing Regatta (SAWMR) which attracted more than 30 women across all six Elliott 7s. The strong participation demonstrated the growing interest in women’s keelboat and match racing at the Club and provided sailors with the opportunity to develop their skills in a competitive and supportive environment. The strong participation and success of the SAWMR event was followed by the introduction of the Women’s Sail Our Way coaching program, attracting 53 participants. Another important milestone came at the Fred Neill Match Racing Championship, where Lucy Cree helmed a CYCSA youth team, marking the first time the Youth Sailing Foundation has had a female youth skipper compete at the event. Lucy and her team’s involvement was another positive step forward for the program and demonstrated the growing opportunities for young female sailors to progress into competitive match racing and leadership roles within the Elliott 7 fleet. This progression is also reflected in the next generation of the YSF squad, with Summer Newman, Steph Johnson, Ellia Jones and Paige Grigg among the five new youth sailors joining the program for 2026–27. Women’s sailing remains a key area we are looking to continue growing and developing. Through events such as SAWMR, increased female representation within YSF, and greater opportunities to helm, crew, train and compete. Our goal is to create a clear pathway for more women and girls to progress through the CYCSA’s sailing programs. The Elliott 7 fleet will continue to play an important role in this pathway, providing an accessible platform for women to build confidence, develop racing skills and progress into competitive fleet and match racing. Looking Ahead: The Rest of 2026 In October, the South Australian Women’s Keelboat Regatta (SAWKR) will provide another important opportunity for our developing female sailors. A CYCSA youth team, led by Paige Grigg as skipper, will compete in the event, continuing the growth of female participation and leadership within our Youth Sailing Foundation. Following SAWKR, the YSF will turn its attention to the Australian Youth Match Racing Championships in Geelong. The CYCSA youth team will travel interstate to compete against some of Australia’s leading youth match racing teams, with the championship providing another valuable opportunity to build on the experience gained from our previous national match racing campaigns. This year will also present a new challenge for the squad, with the championship being raced in RS21 keelboats. Competing in a different boat will require the team to adapt their boat handling, communication and racing skills, providing another important development opportunity for our young sailors. Luke Allison Head Coach, Youth Sailing Foundation

Income Statement 2025/2026 Income

$

Sponsorship Courses/boat hire Corporate income Regatta Income

21,518 51,409 930 6,051

Total Income

$79,908

Expenses Salaries Championship/Regattas Fleet running costs Other expenses

70,298 1,826 13,484 8,673

Total Expenses

$94,281

2025/2026 Result

($14,373)

Reserve donations applied

7,575

Result after reserves

($6,798)

17

Cruising Yacht Club of SA | 2025/2026 Annual Report

Association Report | Cruising The Cruising Association has enjoyed another successful year of cruising, friendship and participation, with members embracing a diverse range of activities both on and off the water. Our focus remains on promoting a love of the sea, encouraging boating activities and strengthening the connections that make our cruising community so welcoming. This year featured events including the Port Victoria 150th celebrations, where members experienced the unique opportunity to sail alongside the historic tall ships One and All and Søren Larsen. These events continue to demonstrate the strong camaraderie that exists within our Association. The Cruising Association also continued to strengthen relationships with neighbouring clubs through shared cruising opportunities and community events, helping promote cruising across South Australia while welcoming both new and experienced members to participate. I would like to sincerely thank our Cruising Association Committee, connected volunteers and event organisers for their enthusiasm and dedication throughout the year. Their willingness to contribute their time and ideas is what makes our Association such an enjoyable and successful part of the CYCSA community. I also extend my appreciation to our valued sponsors, Charlesworth Nuts and Heynen Planning Consultants, whose ongoing support enables us to continue enhancing the member experience and contribute to club assets for the benefit of all members.

• • • • •

South Australia Cruise Rally (a CYCSA CA initiative) New Years Eve Party and Ballast Head Cup at Kangaroo Island (growing in popularity) Member Day on the Elliotts (positive Club member event) Port Victoria 150th Celebrations and Tall Ships Cruise (unique experience) ANZAC Weekend Cruise and Dawn Service at Port Vincent Club BBQ – ‘De Vinyls’ Night Ongoing collaboration with neighbouring yacht clubs and the wider sailing community

Cruising Yacht Club of SA | 2025/2026 Annual Report

The committee has another exciting program planned for the coming months, including the Port Adelaide Cruise Weekend, Stansbury ‘Sounds by the Sea’, the South Australian Cruisers Rally, and our ever-popular New Year’s Eve Bash at Rocky Point, followed by the iconic Ballast Head Cup. As always, our activities will depend on the weather, but we look forward to another enjoyable year of cruising and encourage all members to become involved. As I conclude three years as Chair of the Cruising Association, I would like to thank the committee, our generous sponsors and the many members who have supported the Association during my time in the role. It has been a privilege and a lot of fun to volunteer alongside such a great group of people. I wish Julie Verco (incoming Chair), Roger Flint (incoming Deputy Chair) my thanks for stepping up to keep the Cruising community connected with a sense of belonging. I wish all Associations every success for the year ahead. Darren Harvey Chair

Income Statement 2025/2026

Event Highlights • •

Looking Ahead

18

Income

$

Sponsorship

6,000

Total Income

$6,000

Expenses Burgee/banners BBQ Area upgrades Port Vincent upgrades Event expenses Prizes Other Expenses

443 1,293 1,861 1,597 437 741

Total Expenses

$6,372

2025/2026 Result

($372)

Association Report | Social The Social Association Committee continues to play an important role in bringing members together through a varied calendar of social events and activities. It has been a pleasure to recently take on the role of Chair, and I look forward to building on the Committee’s work and continuing to create opportunities for members to connect and enjoy the Club. A sincere thank you to Adrian Wilson for his dedicated leadership as Chair throughout 2025 and into 2026. His calm and consistent approach helped keep the Club’s social calendar on course and foster the camaraderie that makes the CYCSA feel like home. Adrian remains a valued member of the SAC, continuing to share his experience and support the Committee. The Committee delivered another enjoyable calendar of events throughout the year, bringing members together to socialise, connect and enjoy the Club. Some highlights included: Children’s Christmas Party The Children’s Christmas Party continued to be an important family event on the Social Association calendar, bringing together children, parents, grandparents and carers for an enjoyable celebration at the Club. A range of activities and entertainment created a relaxed and festive atmosphere, with magic, balloon creations, games and plenty of opportunities for families to spend time together. Santa’s arrival was adapted when the weather prevented the traditional boat entrance, with a decorated golf cart providing an entertaining alternative and becoming a memorable part of the day. The event was supported by committee members and CYCSA staff, whose assistance helped ensure the day ran smoothly and every child could take part in the celebrations. The Christmas Party continues to provide a valuable opportunity to include younger members and families in Club life, helping create positive experiences and connections that extend across generations of the CYCSA community.

Easter Egg Hunt The annual Easter Egg Hunt once again provided a popular opportunity for CYCSA families to come together, with 37 children and their families taking part in the 2026 event. The morning offered a variety of activities designed to encourage participation and family enjoyment. Farmer Darcy’s Animal Farm proved particularly popular, while the traditional Easter egg hunt, a visit from the Easter Bunny and Easter hat making kept children engaged throughout the event. Strong participation and the enthusiasm of families contributed to a relaxed and welcoming atmosphere, with many staying to enjoy a well-earned lunch at Admirals Bistro after the organised activities had finished. Family events such as the Easter Egg Hunt remain an important part of the Social Association program. They provide opportunities for children to feel part of the Club community while allowing members and families to connect in an informal setting. The positive response to this year’s event demonstrated its continued appeal within the CYCSA social calendar.

Income Statement 2025/2026 Income

$

Donations Kids Xmas Party Easter raffle High Tea raffle Christmas raffle

315 901 827 477 1,232

Total Income

$3,752

Expenses Kids Xmas Party Easter Egg Hunt Raffle Prizes Other expenses

1,297 995 109 73

Total Expenses

$2,474

2025/2026 Result

$1,278

19

Cruising Yacht Club of SA | 2025/2026 Annual Report

Association Report | Social Quiz Night Quiz Night again proved to be a popular fixture on the Social Association calendar, attracting members and guests for an evening of friendly competition, teamwork and plenty of good humour. The event created a relaxed and engaging environment, with teams working their way through a broad range of questions while enjoying supper and the company of fellow members. The competitive spirit was strong throughout the evening, particularly as the scores tightened and defending champions Schools Out worked to retain their title. The night was supported by a number of generous sponsors, with an excellent selection of raffle and door prizes adding to the enjoyment and helping support future Social Association events. Quiz Night continues to be a simple but effective way of bringing people together across the Club. The strong participation and positive atmosphere again demonstrated the value of events that encourage members to mix, have fun and enjoy a little friendly rivalry. Looking Ahead Looking beyond the reporting period, following the cancellation of the 2025 event, Italian Night returned with renewed energy and was a resounding success. The event brought members together for an enjoyable evening of food, entertainment and camaraderie, setting a positive tone for future social events.

Association Report | Fishing Committee Members: The 2025-2026 Fishing Association committee comprised the following members: Vadis Rodato as Deputy Chairperson and Secretary, Vlad Humeniuk as Treasurer (Retired April 2026), Rafal Staporski, Glen Simpson and Nathan McArdle as committee members. I would like to thank all committee members for their contributions to our Fishing Association activities during the year. Activities and Events: Our key activities were; •

Cockling Day. Due to PIRSA advising that human consumption of naturally harvested cockles could be a health hazard, we had to postpone Cockling Day. We continue to monitor the situation until PIRSA confirms the safe consumption of cockles.

•

Members BBQ on Sat 11 October 2025 sponsored by the Fishing Association with an on-water display by Riviera Marine and on the lawn car display by Porche Centre Adelaide. Lucky door prizes added to the fun on the evening.

•

Crabbing Day 2026. A beautiful Autumn day provided the environment for a very successful event with greater numbers than in recent years. Members were treated to a selection of delicious chilli dishes prepared by special guest, retired chef Mark Spartalis.

The SAC looks forward to building on this year’s successes and continuing to deliver a vibrant program of events that brings members together and strengthens the sense of community at the CYCSA.

We awarded prizes for largest crabs for juniors and seniors, most crabs for power and for sale boats and largest catch overall. The generous financial support of event sponsor Garth Heynen and his business Heynen Planning Consultants enabled us to provide a great array of prizes for our crabbing competition winners on the day.

Erin Labadas Chair, Social Association

Crabbing Day continues to be one of CYCSA’s most iconic member events, and we look forward to seeing even more members join in next year. •

Offshore Fishing charters around Kangaroo Island for Reef and Tuna fishing. Early 2026 challenged us with a lot of poor weather conditions for getting offshore. We managed one charter which was a great success with everyone onboard taking home solid catches of mixed reef fish and crayfish. Unfortunately, no Tuna were sighted.

•

Fishing Awards – Regrettably, no fishing awards submissions were received for the past year. Greater effort is needed to promote this perpetual fishing competition in the coming year. Award categories include: King George Whiting, Garfish, Game Fish and Blue Swimmer Crab.

Following a review of the Fishing Awards program in 2025, a realignment of target fish species with what is being caught by members was established. This focussed on local opportunities while maintaining one opportunity for larger fish (Game Fish). The Blue Crab award is an ongoing competition through the year, in addition to awards made on Crabbing Day, specific to that event.

Cruising Yacht Club of SA | 2025/2026 Annual Report

20

Event Planning For 2026/2027:

Bait Freezer:

•

We continued to maintain the Fishing Association members’ bait freezer noting a significant reduction in usage due to the algal bloom impact on local fishing.

Marine Environment Improvement – To provide a positive impact on our depleted fishing environment, the Fishing Association Committee has committed to a greater collaboration between the CYCSA and OzFish during the coming year. We are planning a re-launch of the ‘Seeds For Snapper Adelaide’ program and the launch of a new ‘Largs Shellfish Reef’.

•

CYCSA members BBQ sponsored by the Fishing Association and Riviera Marine – Saturday 11 and Sunday 12 October 2026 in the Port Vincent marina.

•

Cockling Day – To be held on the third or fourth weekend of November 2026 (dependent on status of algal bloom activity).

•

Fishing Association awards and trophies to be presented at the ‘All Associations Bash’ on Saturday 12 December 2026.

•

Crabbing Day – 7th March 2027.

•

Fishing Charters – There are two offshore reef fishing events scheduled for 24 January and 21 March 2027

•

Fishing Conversations held as part of the Boating Conversation series. Ozfish scheduled to talk about better habitat for better fishing, ‘marine environment regeneration projects’ on 27 November 2026.

Financial Results: This financial year worked out well for 2025, due to the determined efforts of the Committee, arranging our flagship events such as Crabbing Day, Cockling Day and Fishing Charters. Income totaled $8,214, with $4,234 in expenses, resulting in a surplus of $3,980. We offer special thanks for the sponsorship provided by Heynen Planning Consultants (2026 calendar year) and Spitfire Trailers (2025 calendar year). We also thank Kerry O’Brien for overseeing the finances for the year and providing the below income summary. Peter Schembri Fishing Association Chairperson

Income Statement 2025/2026 Income

$

Subscription Fees Crabbing Day Sponsorship Fishing Charters

1,796 1,118 2,000 3,300

Total Income

$8,214

Expenses Crabbing Day Fishing Charters Other Expenses

914 3,300 20

Total Expenses

$4,234

2025/2026 Result

$3,980

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Cruising Yacht Club of SA | 2025/2026 Annual Report

Association Report | Racing

I present this report on behalf of the Racing Executive of the Cruising Yach Club of South Australia. People This year presented more challenges than usual with the loss of management staff, our support vessels, CYC1 requiring more maintenance work and CYC2 being out of action for a substantial time. Congratulations to the volunteer duty crews of CYC 1 and CYC 2, Racing Officials, Racing Manager, CYCSA management and participants for accomplishing another successful season. This season we scheduled a 17 race Inshore series, with five regattas and a five race offshore series. I would like to recognise the Race Officers setting of excellent courses and the additional CYC 3 and CYC 5 support crews for the five regattas sailed. Thank you to Race Officers Mark Moore (Port Adelaide Sailing Club) and Laura Hughson (Adelaide Sailing Club) for filling in while David Hughes was unavailable. Similarly thank you to all our volunteers including the new faces that are stepping up to fill vacancies. Immense gratitude to three retiring volunteers go to John Collett, Neil Pentecost (deceased) and William Walker. Thank you for 20 years of your expertise and time. Volunteering continues to provide an important opportunity for members to become involved in racing and experience sailing on the Club’s official boats. Anyone interested in getting involved is encouraged to contact our Racing Administrator, Inese. A new document is now available on the website outlining the volunteer roles and duties, along with incentives available to volunteers, including reduced membership fees. Volunteering can be undertaken on a very casual basis, providing members with the flexibility to contribute according to their availability. Protests Committee Thank you to Lisa Bettcher, our Protests Chair, for her work throughout the season. This season, there was one arbitration at SAWKR, with two protests submitted and subsequently withdrawn. Our thanks also go to Malcolm Hughes (ASC), who came to the rescue to chair the Plympton Cup Winter Race 3 protest. Racing Association Executive Committee The Racing Association Executive Committee comprised Wayne Grant, Kirsten Roper, Charlie Ryan-Kane, Dianne Schwerdt, Caillin Howard (who retired on 13 May 2026) and myself. Race Officers Greg Borg and David Hughes attended as Ex-officio members, contributing to REX meetings as required. Well done and thank you to the entire committee for working through the large agenda each month and for the ongoing work that keeps our on-water events running successfully.

Cruising Yacht Club of SA | 2025/2026 Annual Report

22

Membership Total racing membership for the year was a total of 181, which comprised of one Foundation Member, three Life Members, 57 Senior Members (with racing participation) plus 118 Racing Members and one Intermediate (Level 1) Member. The Club continues to maintain partnerships with the Adelaide University Sailing Club and the Setting a New Course (SANC) group, formerly known as Veterans SA. These partnerships support participation in sailing and racing and contribute to the Club’s broader engagement with the sailing community. Racing This summer season saw the weekend racing calendar completed with only five Inshore Races abandoned. While seven of 22 Twilight races were abandoned due to high winds or no wind. The Short Offshore Series attracted one entry. However, casual entries and combined racing with the Royal South Australian Yacht Squadron (RSAYS) resulted in a satisfactory fleet size. Additional marks were established at Wonga Shoal Buoy, King of the Gulf West and King of the Gulf Grange. The Commodore’s Shield was conducted as a combined Inshore Series, using 15 Inshore Series races. The Tri Series, contested between the CYCSA, RSAYS and Port Adelaide Sailing Club (PASC), was conducted using seven of our Inshore Races. The Small Boat Series was again conducted over the summer season, with the CYCSA hosting one of the weekend events Handicaps were managed under the SailSys software, with support and mentoring from John Maclurcan. The exception was the Twilight Series, for which handicaps were managed using TopYacht. The Yacht Safe Auditing Program is now well established and operating effectively, thanks to the ongoing efforts of the Safety Auditing Team and Racing Administrator. Additional auditors are required to support the continued operation of the program. The Women’s Series was once again jointly promoted and conducted by the CYCSA and the Royal South Australian Yacht Squadron (RSAYS). Twilight racing was very well supported throughout the season, with strong fleet participation and well-attended après-race gatherings. Four combined Twilight Races were programmed this year, with both clubs hosting joint meals following the racing. The South Australian Women’s Keelboat Regatta held over the October 2025 Long Weekend was a success. With a total of 30 boats and 162 female crew following a number of late withdrawals due to injury. The event was strongly supported by a large number of volunteers, whose contribution was instrumental to its success.

The CYCSA was represented by Clockwork in the 2025 Rolex Sydney to Hobart Yacht Race, one of Australia’s premier offshore sailing events. The Club’s fleet of Elliott 7s were well utilised throughout the year for the South Australian Women’s Keelboat Regatta (SAWKR), Defence Industry Cup, Fred Neill Match Racing Trophy and the inaugural South Australian Women’s Match Racing (SAWMR) event. The CYCSA hosted the 2026 Flying 15 National Championships in January, providing a strong opportunity to showcase the Club and its facilities. The Club will also host the VX One State and National Championships during the coming season. Sponsors We are grateful for the ongoing support from our primary sponsors, Yalumba, Bravo Sails and MaxiSpan along with TrueCore and Heatlie taking on the event sponsorship for the Premier’s Cup Regatta. They generously provide prizes for podium/winners and support the running of events financially. Program and Documents The Notice of Race (NOR) and Sailing Instructions (SIs) are currently being updated and will be released shortly. Season Preparation and Acknowledgements Members are reminded that Safety Audits will need to be renewed before the commencement of the racing season. Please book a time via the app or website. The Club is also seeking additional Safety Auditors to support the program The Skipper’s Briefing was held on 3 September, with the first Offshore Race scheduled for 18 September. Rating Certificates must also be renewed before the commencement of the season. Under the Sailing Instructions and Racing Rules, a rating may only be used from the date shown on the current certificate. Boats without a current rating certificate will therefore be scored DNC. Fire Extinguisher inspections will be notified in due course, with inspections hopefully scheduled for 7 and 8 October. In closing, I would like to express my sincere thanks and respect to the many integral contributors whose time, effort and commitment make this Association work and enable us to get out on the water. Rob Human Chair

Preparations are well underway for the next staging of SAWKR in October 2026, with the SAWKR Committee continuing to progress arrangements.

23

Cruising Yacht Club of SA | 2025/2026 Annual Report

Association Report | Racing

Income Statement 2025/2026 Income Racing Membership Fees Racing flags/Blue Book sales Racing Nominations Casual Nominations Raffle Income Safety Income Sail Storage Shed Regatta Income Sponsorship: Yalumba Heatlie BBQs Bravo Sails Maxispan/Truecore Phil Hoffmann Travel Total Income

$ 31,692 223 16,107 1,224 0 1,064 4,559 36,653 4,000 2,500 1,818 4,500 1,125 $105,465

Expenses Administration Duty Crew Expenses Engraving/Signage expense Trophies/Prizes YA/YSA Yearly Membership expense Other Expenses Salaries and wages Repairs & Maintenance - CYC1 Repairs & Maintenance - CYC2 & CYC5 Fuel for boats SailSys Regatta Expenses*

2,040 4,199 1,136 1,517 11,074 1,522 43,277 20,769 4,430 3,303 2,752 31,012

Total Expenses

$127,031

2025/2026 Result

($21,566)

*NB. Regatta expenses includes the SA Women’s Keelboat Regatta (SAWKR) and the Flying Fifteens National Regatta

Cruising Yacht Club of SA | 2025/2026 Annual Report

24

Groundswell Editorial Committee Report Groundswell is an important communication and promotion vehicle for the Club as it attempts to reflect life at the Club by involving all interest groups and individuals through the publishing of articles about their activities and interests. The committee works together to gather articles for each of the four editions published annually in both printed and online form with the aim of encompassing a wide range of events and activities. Putting each magazine together takes time for our small group of volunteers on the committee and we really appreciate the input from members and in particular from the Flag Officers and Associations. Without the interest and response from our members there would not be a Club publication of this type. Advertising is an important component of Groundswell in order to make it cost neutral to members. We appreciate and would like to thank our long supporting advertisers who enable us to go to print. New advertisers are always welcome so for information about pricing please contact Mellissa via mellissa@cycsa.com.au for details. Inese Lainis from the Racing Association and Peter Chambers, the Marine Academy Principal, have been wonderful contributors to the magazine by keeping us up to date with racing results and news and commenting on the various courses offered by the Marine Academy, both of which add to the vibrancy of the Club. Luke Allison has also provided valuable insights into the Youth Sailing Foundation and the Adelaide University Club’s input has enriched our coverage. The Social, Cruising and Fishing Association chairs also contribute with articles about what has happened and future events in their respective areas. Alan Noble continues to provide us with informative articles about all manner of things and his interest and willingness to allow us to include them in Groundswell is much appreciated. Members of the Groundswell Editorial Committee are myself, Dianne Schwerdt, Pat Catley and Mellissa Vahoumis and we encourage you to approach any of us if you have suggestions about the content and format of the magazine. Mellissa is the Club’s Marketing and Communications Officer and without her assistance and imagination Groundswell would not be the

quality production it is. She is a great asset to the Club and I thank her very sincerely for her input. Pat continues to provide us with great articles on Boats at the Club whether they be a new boat into the basin or a new boat to the owners and Dianne produces great sailing articles including the annual Adelaide to Lincoln race and the South Australian Women’s Keelboat Regatta. Because I have been at the Club the longest and therefore know most of the older members at the Club I write most of the obituaries and Club member profiles plus whatever else needs to be done. The three of us proof the copy and hopefully between us eliminate most of the typographical errors but I apologise if we miss some as we are non-professionals in the field and all volunteers. For Groundswell to maintain the high quality we have achieved input and feedback from all areas of the Club is needed. If you have been on a race, cruise or a fishing trip or completed a Marine Academy course that you found interesting, it is likely other members will be interested also so please, put your thoughts into words and forward it to Mellissa for possible inclusion in the magazine. If you are not confident about your writing skills but have a great story to relate just get hold of one of the committee members as we can help out. Poetry, prose and particularly graphics are always welcome and our Editorial Committee will proof your articles and make editing changes and correct grammar and format where required. Groundswell essentially writes the history of the Club and is a valuable source of information for the members. Thank you for your support over the year and I trust you continue to enjoy contributing to and reading the magazine. Gay Footer Chair, Groundswell Committee

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Cruising Yacht Club of SA | 2025/2026 Annual Report

Club Structure The following diagrammatical representation of the Club’s structure is provided to clarify the relationship between the associated entities and the function each entity undertakes in the total Club structure.

CYCSA Incorporated (referred to as ‘the Club’)

CYC Ramp Trust

•

Senior Members elect a seven member Board of Management annually.

•

•

The Board of Management (‘the Board’)

This is the trust established in the early 1990s to facilitate the purchase of property including the southern area of the carpark, the land to the south and the Western Basin.

-

is responsible for the management of the Club with delegation of appropriate responsibilities to the General Manager.

•

-

act as Directors of CYC (SA) Management Pty Ltd, the trustee of the CYC (SA) Unit Trust.

The major assets of the trust are the Western Basin including Marina West and the water area adjoining the northern peninsula.

•

The trust also operates the public boat ramp.

•

The trust leases Marina West land/water to the CYC (SA) Unit Trust.

•

The trust, being a discretionary trust, does not have owners, but the beneficiaries of the trust are the Club and the CYC (SA) Unit Trust. The trust has made distributions to the Club in the past.

•

act as Directors of CYC Ramp Pty Ltd, the trustee of the CYC Ramp Trust.

The Club owns the floating assets in Marina West.

CYC (SA) Unit Trust •

The major assets of this trust are the freehold of the Club Eastern Basin at North Haven, including land, water and buildings, the sub-lease of the Port Vincent Marina and a lease of the land and water of Marina West which is sublet to the Club by the CYC Ramp Trust.

•

All Senior Members hold units in this trust and therefore have a beneficial interest in the above assets.

•

As an asset holding entity, the trust’s affairs do not generate profits that can be distributed to unit holders.

BOARD OF MANAGEMENT

Directors elected annually by Senior Members

CYC Ramp Pty Ltd As trustee for

CYC Ramp Trust Owns Marina West, adjacent land and water, including channel

CYC (SA) Management Pty Ltd

CYC (SA) Unit Trust Owns land and water, buildings, Marina East • Underlease of Port Vincent Marina from the Yorke Peninsula Council • Lease of Marina West

Profits

Profits

Beneficiaries CYC (SA) Unit Trust CYCSA Inc

Beneficiaries Senior Members

Cruising Yacht Club of SA | 2025/2026 Annual Report

26

CYCSA Incorporated • Operates bar and slip • Staff • Rents buildings and Marina East from CYC (SA) Unit Trust • Underlease of Marina West and Port Vincent from CYC (SA) Unit Trust

Members

CYCSA Inc and Controlled Entities Financial Report For the year ended 31 May 2026

Statement by the Board of Management In the opinion of the Board of Management, the Financial Report as set out on pages 4 to 25: 1.

Presents fairly the financial position of The Cruising Yacht Club of SA Incorporated & its Controlled Entities (the “consolidated group”) as at 31 May 2026 and its performance for the year ended on that date in accordance with the 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 consolidated group will be able to pay its debts as and when they fall due.

3.

In accordance with Section 35(5) of the Associations Incorporation Act 1985, the Board of the consolidated group hereby states that during the year ended 31 May 2026: - Other than disclosed in Note 22 in the financial statements, no officer of the consolidated group has, since the end of the previous financial year, received, or become entitled to receive a benefit (other than a benefit included in the aggregate amount of emoluments received or due and receivable by the officers of the consolidated group shown in the financial report) as a result of a contract between the officer or a firm of which they are a member or an entity in which has a substantial financial interest in the consolidated group; - No officer of the consolidated group has, since the end of the previous financial year, received directly or indirectly from the consolidated group, any payment or other benefit of a pecuniary value (other than a benefit included in the aggregate amount of emoluments received or due and receivable by the officers of consolidated group shown in the financial report).

This statement is made in accordance with a resolution of the Board of Management and is signed for and on behalf of the Board of Management by:

President

Treasurer

Dated this 30th day of July 2026

27

Cruising Yacht Club of SA | 2025/2026 Annual Report

CYCSA Inc and Controlled Entities Financial Report Statement of Comprehensive Income for the year ended 31 May 2026

Note

Consolidated Group 2026

2025

$

$

REVENUE Revenue

2

4,510,588

4,716,002

Other revenue

2

373,789

416,793

Unrealised gain/loss on investment

59,134

429,846

TOTAL REVENUE

4,943,511

5,562,341

EXPENSES Employee benefits expense

2,228,740

1,992,444

Depreciation

10

640,600

610,433

Other expenses

4

1,146,835

1243,959

Finance costs

740

734

Cost of sales

669,701

749,499

Insurance

171,958

154,136

Repairs & maintenance

241,102

178,668

TOTAL EXPENSES

5,099,676

4,929,873

NET PROFIT / (LOSS)

(156,165)

632,468

Other Comprehensive Income

-

-

TOTAL COMPREHENSIVE INCOME

(156,165)

632,468

The accompanying notes form part of these financial statements and can be accessed on the Club’s website.

Notes to the Financial Statements The Club’s full financial reports and notes to the financial statements are available for viewing and download online on the Club’s website at: https://cycsa.com.au/club-financial-reports/ Printed copies are available upon request from Club Reception.

Cruising Yacht Club of SA | 2025/2026 Annual Report

28

CYCSA Inc and Controlled Entities Financial Report Statement of Financial Position as at 31 May 2026

Note

Consolidated Group

ASSETS

2026

2025

$

$

CURRENT ASSETS Cash and cash equivalents

5

558,482

410,494

Trade and other receivables

6

221,764

376,725

Inventories

7

72,909

90,156

Other assets

8

174,365

222,156

Financial assets

9

7,116,487

7,289,108

TOTAL CURRENT ASSETS

8,174,007

8,388,639

NON-CURRENT ASSETS Property, plant and equipment

17,435,932

17,202,763

TOTAL NON-CURRENT ASSETS

10

17,435,932

17,202,763

TOTAL ASSETS

25,609,939

25,591,402

LIABILITIES CURRENT LIABILITIES Trade and other payables

11

768,488

909,089

Short-term provisions

12

317,597

289,183

1,086,085

1,198,272

TOTAL CURRENT LIABILITIES NON-CURRENT LIABILITIES Trade and other payables

11

3,824,700

3,661,401

Borrowings

13

28,254

28,030

Long-term provisions

12

12,826

12,826

TOTAL NON-CURRENT LIABILITIES

3,865,780

3,702,257

TOTAL LIABILITIES

4,951,865

4,900,529

NET ASSETS

20,658,074

20,690,873

6,176,535

6,114,419

EQUITY Issued capital

14

Reserves

16

1,560,272

1,535,514

Retained earnings

12,921,267

13,040,940

TOTAL EQUITY

20,658,074

20,690,873

The accompanying notes form part of these financial statements and can be accessed on the Club’s website.

29

Cruising Yacht Club of SA | 2025/2026 Annual Report

CYCSA Inc and Controlled Entities Financial Report Statement of Changes In Equity for the year ended 31 May 2026

Contributed Equity

Retained Earnings

Premium Reserve

Marine Academy Reserve

Total

$

$

$

$

$

6,116,219

12,420,242

1,420,500

103,244

20,060,205

(1,800)

-

-

-

(1,800)

Operating Result for the Year

-

632,468

-

-

632,468

Transfer to Reserves

-

(15,400)

-

15,400

-

Transfer from Reserves

-

3,630

-

(3,630)

-

Balance at 31 May 2025

6,114,419

13,040,940

1,420,500

115,014

20,690,873

Balance at 1 June 2025

6,114,419

13,040,940

1,420,500

115,014

20,690,873

62,116

-

61,250

-

123,366

Operating Result for the Year

-

(156,165)

-

-

(156,165)

Transfer to Reserves

-

(15,400)

-

15,400

-

Transfer from Reserves

-

51,892

-

(51,892)

-

Balance at 31 May 2026

6,176,535

12,921,267

1,481,750

78,522

20,658,074

Consolidated Group Balance at 1 June 2024 Contributed (Reduction) in Capital

Contributed (Reduction) in Capital

Note: During the financial year, the Club transferred an additional $15,400 to reserves. The Club applied $44,317 of the MA reserve towards the MA deficit incurred as a result of an unexpected closure of the program for part of the year. The Club also applied $7,575 of this years YSF reserve allocation towards the running of the YSF program. These transfers are reserve movements only and do not impact the financial performance of the Club.

Cruising Yacht Club of SA | 2025/2026 Annual Report

30

CYCSA Inc and Controlled Entities Financial Report Statement of Cash Flows for the year ended 31 May 2026

Consolidated Group

Note

CASH FLOWS FROM OPERATING ACTIVITIES

2026

2025

$

$

Receipt from customers

4,815,380

Interest received

-

-

Payments to suppliers and employees

(4,388,518)

(4,316,509)

Receipt from investments

242,119

257,477

Interest paid

(740)

Net cash provided by (used in) operating activities

668,241

4,694,834

(734) 635,068

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

-

-

Payments for property, plant and equipment

(873,769)

(316,705)

Purchase of investments

(3,088,287)

(2,704,781)

Proceeds from the sale of investments

3,348,437

2,570,325

Net cash provided by (used in) investing activities

(613,619)

(451,161)

-

-

CASH FLOWS FROM FINANCING ACTIVITIES Proceeds / (Repayments) from borrowings

13

Proceeds / (Redemption) from issue of units in Unit Trust

123,366

(1,800)

Net cash provided by (used in) financing activities

123,366

(1,800)

Net increase / (decrease) in cash held

177,988

182,107

Cash and cash equivalents at beginning of financial year

410,494

228,387

Cash and cash equivalents at end of financial year

588,482

410,494

5

The accompanying notes form part of these financial statements.

Financial Reports We are committed to transparency and accountability. The Club’s financial reports provide a clear overview of its financial position and performance. The accompanying notes form part of these financial statements. To view the Club’s full financial reports, scan the QR code or visit: https://cycsa.com.au/club-financial-reports/

31

Cruising Yacht Club of SA | 2025/2026 Annual Report

Cruising Yacht Club of South Australia Inc. Lady Gowrie Drive, North Haven, South Australia PO Box 1020, North Haven SA 5018 08 8248 4222 | reception@cycsa.com.au | www.cycsa.com.au