2015 Annual Report

2015 Annual Report

GLENELG GOLF CLUB INCORPORATED | ABN 94 199 789 857

PROUD | PROGRESSIVE | CHALLENGING

Front & back covers: A firery sunset basks golden light across the 18th green and clubhouse .

2015 Annual Report 1

OUR MISSION

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

OUR VISION

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

OUR GOALS

To ensure the Club’s financial strength to meet it’s short, medium and long term goals without calls on members.

To develop an environmentally sustainable golf course distinguished from other championship courses by unique characteristics and recognised as among the best in Australia.

To provide outstanding value and service to members and guests.

To foster a sense of belonging and pride amongst members and improve the profile and reputation of the Club.

To promote the enjoyment of golf and the enhancement of skill through a competition program which meets the needs and expectations of members of all skill levels and interests.

2015 Annual Report2

OFFICE BEARERS

CAPTAIN Mr Gavan Fox

VICE CAPTAIN Mr Paul Duregon

PRESIDENT Mrs Helen McMutrie

VICE PRESIDENTS Mr John Rawson Mr Ian Symons

COMMITTEE OF MANAGEMENT Mr Michael Adair Mr Brett Jarrad Mrs Kay Nyland Mr John Ranaldo Mr Bevan Roberts Mr Greg Rundle

KEY MANAGEMENT PERSONNELGENERAL MANAGER Mr David Brand

HEAD PROFESSIONAL Mr Shane Robinson

COURSE SUPERINTENDENT Mr Daryl Sellar

Above: Stunning late evening view back down the 7th hole.


COMMITTEE MEETING ATTENDANCEAttendance at Committee of Management meetings for the year ended 31 December 2015

Gavan M. Fox (Captain) 10

Paul B. Duregon (Vice Captain) 12

Michael S. Adair (re-elected March 2015) 9

Brett D. Jarrad 5

Kay Nyland (re-elected March 2015) 12

John Ranaldo 8

Bevan Roberts 12

Greg C. Rundle 6

A total of twelve (12) Committee of Management meetings were held for the year ended 31 December 2015.

2015 Annual Report4

It gives me great pleasure to present the 2015 Captain’s Report to members of Glenelg Golf Club.

2015 was another successful year for Glenelg Golf Club. Our course ranking, as rated by Golf Australia Magazine, rose to 25th in Australia, even with two new courses entering the charts. This is a testament to our great course and also to the way we receive and welcome visitors; something that, as members, you should be proud of.

On a financial basis, the Club had a good year. We undertook some significant projects of a capital nature such as the western car park redevelopment, continued to reduce our debt level and reported an operating surplus. This is all good news and thanks go to members and guests for your patience during the periods of disruption when some of these works were being undertaken.

Our Club has never been one that has stood still. Previous committees have judiciously, and with great foresight, implemented a progressive and manageable culture of change that has seen our Club grow to become

one of the premier private golf clubs in Australia. In particular, the past 15-20 years has seen significant growth and an extensive capital expenditure program to ensure our world class facilities continue to be the best available for our members.

Membership remains one of our significant focuses and we continued to attract new members to the Club in 2015. We encourage you all to be ambassadors for Glenelg and keep introducing potential members to the Club. We have a great range of membership options available and, if you are not familiar with the current types of membership, please take a moment to look on the website or drop by the Club’s Administration Office.

As members, you know that Glenelg Golf Club is about more than just golf; we are a vibrant, busy venue which members, guests and visitors use as a destination for socialising, dining, functions, corporate events and weddings – all of which assist significantly in sustaining the Club’s financial viability. I thank you for your support of our Club off the golf

course and encourage you to continue to enjoy our magnificent facility. Additionally, it would be great if you let others know about our extensive range of capabilities.

I hope you enjoy reading about the activities of the Club in 2015 and I look forward to seeing many of you on our wonderful golf course in the coming year.

CAPTAIN’S REPORTFor the year ending 31st December 2015

Gavan Fox CAPTAIN


FINANCEThe year ending 31st December 2015 reported a total operating surplus of $44,040. Total equity increased to $4,388,754 whilst the Club’s cash position decreased by $67,819 with $286,222 available as at 31st December 2015. Cash flow generated from operating activities of $728,259 funded the Club’s debt reduction and capital expenditure programs for the year.

The Club once again met its planned debt reduction program with $300,000 reduced off the Club’s loan facilities and $51,156 used to reduce operating debt associated with hire purchases and lease agreements. When accounting for this, the Club reduced its total borrowings to $1,752,346.

Refinancing arrangements with the ANZ Bank saw the Club’s total loan facility reduced from $2.7m to $2.2m, of which $1.7m of the facility was utilised at 31st December 2015.

The redevelopment of the western car park was a key project in 2015 with an overall cost exceeding $200,000.

A further $193,311 was allocated to smaller projects including an upgrade of the driving range building as a teaching studio, new dining room and conference room chairs, new carpets in the Golfers Bar and Entry Foyer areas and an upgraded AV/PA system in the Members Lounge.

Results across membership and golf operations were excellent, although the year was hampered by less than expected positive results within the Club’s food and beverage operations.

Total bar sales grew 3% to $1,063,445 with the majority of growth seen in general member and function sales. A 14% drop in wedding revenue, due to a reduction in wedding numbers, impacted the revenue line.

As a service to members and guests, the Club increased operating hours during the year. This, along with changes in personnel, proved problematic with increased labour costs in bar equating to an approximate $50k reduction in the bottom line result whilst wage costs were relatively stable in catering.

Combined, bar and catering posted a net operating profit of $300,625, meeting our KPI target of achieving a $300k contribution from food and beverage.

Membership revenue was positive for a third consecutive year, despite another expected reduction in FME numbers. Subscription revenue totalled $1,938,190, an increase of 3% over 2014 figures. FME numbers as at 31st December 2015 were 892.7 compared with 931.8 in 2014 - a membership retention rate of 95.8%.

The FME reduction was reflected in Infrastructure Levy revenue received of $268,787 (down from $282,507 in 2014), all of which was allocated to the Club’s debt reduction program. Entrance fee revenue totalled $191,526, which was down 15%, although there was a trend towards payment of entrance fees using our 3 and 5 year instalment plans.

Total green fee revenue grew with general green fee income up 16% and a 12% increase in corporate golf day revenue, depsite hosting less golf days. Overall, $415,896 was generated in green fee revenue, easily

Below: A late afternoon look back down the short par 5 12th hole.

2015 Annual Report6

exceeding the Club’s KPI target of $380k. A similar increase in cart hire saw total golf operations revenue of $593,695, 8.5% higher than 2014 even with the loss of range income through the introduction of our free range ball service.

Overall, total net income decreased by 1.2% to $3,171,980.

Total expenditure grew 2% to $3,127,940, much of which was influenced by increased course salaries and wages, with FTE numbers increasing from 11.5 to 13 in order to maintain and improve the condition of the golf course. House expenses also increased due to changes to the Club’s contract cleaning arrangements and higher maintenance costs of our ageing house plant and equipment.

Administration expenses fell 2.5%, influenced by reduced finance costs of $45,190. A move towards electronic communication methods saw a reduction in postage, printing and stationery whilst advertising costs grew more than 50% as we embarked on more aggressive marketing campaigns to develop new and improve on existing revenue streams.

Trade and other payables for year-end totalled $540,439, compared with $431,200 in 2014, with the western car park redevelopment project completed in November 2015, but carried over for payment in January 2016.

The Club continues to hold 250,000 units in the Premium Income Fund (PIF) and 1,250 shares in Asset Resolution Limited. A consolidation of ARL occurred in December 2015 on the basis that every 200 existing shares would be consolidated to one (1) share, therefore reducing our holding from 250,000 in 2014 to 1,250 in 2015. A capital return of $2,250 was received from ARL during the 2015 year, thus reducing the carrying value of the Club’s investment from $14,000 (2014) to $11,750 (2015).

GOLF COURSEMinimal course works were undertaken during 2015. Instead, the Committee of Management and course maintenance team focussed their attention on smaller projects needed to refine and enhance the golf course.

Our ongoing bunker refurbishment program saw greenside bunker works on the 1st and 18th holes and further attention given to entry and exit points on holes 3, 4 and 5.

Small paving projects were completed adjacent the 4th and 12th tees whilst concrete kerbing, tree removal and pathway realignment works were undertaken on the 8th. Paths continue to cause frustration for the course maintenance team and Committee of Management. Turf remains the preferred option as it is more efficient to maintain than most materials and integrates well with playing surfaces However, increasing golf traffic has seen a change in strategy with a number of paths identified for replacement with

The redevelopment of the western car park was a key project in 2015

The introduction of free range balls has been a popular membership service

Antonio Murdaca and Gareth Jones talking at the May Captain’s Lunch

2013 Masters Champion, Adam Scott, was an unexpected guest in January


paving. Works on 4 and 12 proved successful pilot projects and will now be rolled out across other areas over coming years.

To mark the 100th anniversary of the Anzac landings at Gallipoli, the Club undertook a restoration of the Anzac Memorial Tree and surrounding environs. New landscaping was introduced to better reflect the Lone Pine Memorial on the Gallipoli Peninsula and the minor relocation of the Anzac Memorial seat. The tree itself was pruned to prevent it inhibiting play on the 10th hole and seeds have been collected and propagated into new seedlings for use in other areas of the golf course to ensure the continuity of this important tradition.

In recent years the Club has seen a significant rise in golfing, function and dining activity placing regular pressure on our limited car parking capacity. Feedback had also identified car parking as one of our members’ key concerns. As a result, the Committee of Management committed to a major redevelopment of the western car park to increase

parking capacity and enhance the presentation of the Club’s main entry point.

Preliminary earthworks were completed in September with major civil works undertaken by Fulton Hogan through October and November. The project was a significant investment for the Club, costing in excess of $200,000, however the end result has increased capacity by almost 50%, improved the experience for members and guests, and provided the Club with a substantial asset that will further enhance our position as one of the premier private member golf clubs and function centres in Australia.

Our annual course renovation work was undertaken in early September with a decision made to close the course for two days enabling more to be completed and providing less disruption to members on other days. As a novelty, “Big Holes” were used immediately following the two-day closure given the usual difficulty negotiating core holes and sand on the greens. Mixed feedback was received, although generally positive,

and as a result, this will become a regular arrangement in future years.

As previously mentioned, Glenelg’s standing in Australia climbed once again, improving three places to 25th in Golf Australia Magazine’s Top 100 golf course rankings. The move saw the Club leapfrog Kooyonga’s ranking of 26, effectively recognising Glenelg as the second best golf course in South Australia behind Royal Adelaide.

We continually receive feedback from members, guests and others who test their skills on our demanding layout complimenting the extraordinary condition and strategic nature of our golf course. The Club’s reputation within the golf industry continues to grow with many visiting players declaring Glenelg to be the best golf course in South Australia.

There is no doubt that our golf course continues to improve year on year and this is to the absolute credit of the course maintenance team who deliver a world class golfing experience.

Fittingly, and in recognition of this work, Daryl Sellar was presented with the 2015 SA Golf Course

With a surge in interest from members utilising our expert team of teaching professionals, the Club invested in an upgrade of the driving range building as a teaching studio.

2015 Annual Report8

Superintendents Association Excellence in Turf Management Award at the SA Golf Industry Awards Night in October.

CLUBHOUSE, FOOD & BEVERAGEOur food and beverage operation continues to be a key component of the Club’s business, offering members a regular opportunity to enjoy a beer, a burger, a pizza or a steak with friends and family, exchange stories of their golfing prowess, and to generally relax and enjoy the views available across the golf course.

The Committee of Management, in conjunction with key management staff, made a decision to expand Pinehill Bistro hours to include Wednesday nights all year round, in addition to the already popular Thursday and Friday night options. We also saw the first full year of weekend breakfast operations.

Despite some quiet periods, particularly during the winter months, our bistro saw a pleasing 5.5% increase in sales - a strong endorsement of the great work being undertaken by our culinary team, led by Head Chef, Matt Chapman, and the growing popularity of our Pinehill Bistro business. Our bistro has become a popular venue for local residents, with non-member bookings regularly being taken for breakfast, lunch and dinner.

In a further endorsement to the great work being done by our food and beverage team, the Club received the 2015 Best Club Dining Award at the Clubs SA Awards Night held at

Adelaide Oval in November. The Club was also a finalist in the Best Club Operations and Best Sporting Club awards, although unsuccessful in winning.

Once again, our function business was a major contributor to the Club’s financial hip-pocket with 424 functions, conferences, weddings and golf days held during 2015. Wedding numbers decreased slightly from 30 to 26, in line with trends within the wedding industry. Function numbers were on par with previous years whilst less corporate golf days were held. The big improvement for the Club was in conference activity, which saw a 33% increase during 2015. A niche market of smaller conferences and business meetings made use of the Club’s Boardroom and Conference

FUNCTION NUMBERS IN 2015

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec TOTAL 2014

Weddings 3 4 5 3 - 1 2 2 - 2 3 1 26 30

Functions 3 4 7 5 9 9 8 6 19 9 13 21 113 117

Conferences 2 17 13 11 20 24 15 27 37 37 33 14 250 186

Golf Days - 1 7 3 5 2 1 2 2 4 7 1 35 38

Despite some quiet periods, particularly during the winter months, our Pinehill Bistro operations saw a pleasing 5.5% increase in sales

Club Burgers were once again a popular choice for golfers during the year

Chef’s special Moreton Bay Bugs were a hit at the Captain’s Lunch


Room facilities providing a regular and consistent income during the year.

Our Events Manager, Lynn Kschammer, once again provided a thorough, professional and friendly service to our function clients, coordinating many hundreds of lunches, dinners, cocktail parties and wedding ceremonies. Her tireless efforts were rewarded in October after being nominated as a finalist in the Function Coordinator Award at the SA Bridal Industry Awards Night, finishing with a rating of 98.42%, just shy of the eventual winner. The Club did, however, win the Best Club Reception Venue for the second consecutive year, securing a rating of 98.43% from our brides.

The award was deserved recognition for the Club’s food and beverage team who continue to impress and improve upon the service and delivery of high quality events and functions at Glenelg.

With an ageing clubhouse, we will be faced with a number of capital projects in coming years to ensure we continue to provide a modern, comfortable and relaxed environment for our members and guests. During 2015, we commenced a refurbishment

program, starting in the Golfers Bar and Entry Foyer. Carpets were replaced and walls repainted in the same style as that used during the clubhouse redevelopment project in 2008/9. We hope you agree that the new colour scheme gives these areas a brighter, fresher feel more in keeping with today’s modern expectations. Our dining room chairs were also replaced during the year after 16 years of loyal service.

MEMBERSHIP, MEMBERS & GOLF2015 proved to be a landmark year for the Club with numerous awards received, outstanding sporting achievements recorded and new services and experiences introduced for members.

One of the biggest changes to be introduced to the Club in recent years happened on 1st April when, following consultation with members and after extensive and robust debate amongst the Committee of Management, it was unanimously agreed to introduce online booking sheets on a permanent basis With an increasing number of rounds being played and a greater need for people to manage their time

more effectively, the Committee of Management formed a strong view that an online booking sheet system would be the best and fairest way to meet these expectations and best balance the needs and expectations across the Club’s membership base.

Another important change made was the introduction of free range balls for members and guests. The introduction of this service has encouraged members to utilise our nationally recognised teaching professionals and world class practice facilities to help improve their golf game, and judging by the number of members on the driving range daily, it seems this service has been well received.

Improving the value of membership continues to be one of the key driving forces of the Committee of Management. During 2015, the Club successfully negotiated new reciprocal arrangements with The National Golf Club and The Dunes Golf Links on Victoria’s Mornington Peninsula, and Mission Hills in China. These three facilities add to the extensive list of nationally and internationally recognised golf clubs now available to Glenelg members.

Corporate partnerships and memberships remained an important contributor to the development of alternative revenue streams for the Club in 2015. A number of new corporate relationships were established driving more than $100k in corporate subscription revenue. Our relationship with the Adelaide Football Club continues to strengthen with their captain, Taylor Walker, appointed as a Club Ambassador early in the year. Former Adelaide Oval curator, Les Burdett, was also appointed as a Club Ambassador and was the guest of honour at the Glenelg Golf Club Foundation Day in August.

We have been used to regular visits by local sporting stars, but one of the world’s biggest showed up on the Club’s doorstep in January when 2013 Masters Champion, Adam Scott,

Our function business was a major contributor to the Club’s financial hip-pocket with 424 functions, conferences, weddings and golf days held during 2015

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joined his father, Phil, and close family friends for a game at Glenelg. It was Adam’s first time here and by all accounts, he was very impressed with both the condition and strategic nature of the course.

Our junior golf and elite player development programs surged ahead in leaps and bounds with a number of remarkable achievements by members throughout 2015.

Jenny Lee was selected to represent Australia in the Astor Cup played at The Grange early in the year whilst 16-year old Ben Layton qualified for the world final of the Aaron Baddeley International Junior Championship played in San Diego in December.

Glenelg members starred in various State amateur championships played throughout 2015 with Will Starkey claiming the Golf SA Boys’ Amateur crown and 16-year old Lachlan Barker taking out the Golf SA Amateur title, defeating fellow Glenelg member, Sam Earl. Earl collected the SA Medal as leading qualifier whilst Connor Chant also reached the semi-finals, giving Glenelg three out of the four semi-finalists. Jenny Lee claimed medallist honours and reached the final of the Golf SA Women’s Amateur, eventually losing to Victorian, Stephanie Bunque. Mark McDonald and Elysia Yap took out the SA Mixed Foursomes Championship which was played in conjunction with the Club Mixed Foursomes and Owen Whitford Trophy qualifying round.

A remarkable highlight for our Head Teaching Professional, Gareth Jones, was the rare opportunity to caddy for Antonio Murdaca at the Masters. An experience never to be forgotten, both Gareth and Antonio then kindly offered to be guest speakers at our May Captain’s Lunch, which drew a massive 180 attendees, the biggest attendance ever for the Club.

On the local front, Elysia Yap claimed her first Women’s Club Championship title and Jill Hodge took out the Women’s Open Championship. Glenelg members featured prominently in the Glenelg

Vardon with all three trophies staying at the Club after Connor Chant, Elysia Yap and Ben Layton won their respective events – a first for the Club. Numerous Glenelg members were selected for state teams during 2015. A full listing is available later in this report.

History was created in November when 14-year old Jack Tanner took out the Men’s Club Championship. In winning, Jack became the youngest ever Club Champion at Glenelg across both the men’s and women’s events. It was a remarkable effort from Jack, who had only just returned from the Club’s High Performance Squad 5-day junior trip to Melbourne with the experience clearly having an impression on the youngster. Jack is certainly a player to watch in the future.

Our Golf SA pennant campaign started strongly and finished with four out of six teams reaching the finals – Women’s Grade 1, Bonnar Cup, Women’s Grade 2 and Sharp Cup. Sadly, our Women’s Grade 1 team could not do a four-peat, nor could our Bonnar Cup side defend their 2014 title and both the Women’s Grade 2 and Sharp Cup teams went down in close tussles. We once again received

great support from our pennant sponsors, Anvers Wines, McGrath Real Estate and SA Safe Supplies, and we thank them for their ongoing contribution.

With a surge in interest from members utilising our expert team of teaching professionals, the Club invested in an upgrade of the driving range building as a teaching studio. Our Golf Operations team can now service members with three teaching stations inside with laptops for swing analysis, a designated putting lane for SAM Puttlab sessions and Trackman analysis. Commencing in 2016, we will also have in residence world renowned 3D Biomechanics expert, Ryan Lumsden, who is a leader in his field in world golf.

We are lucky to have what is arguably the best Golf Operations team in Australia, led by Head Professional and Director of Golf Operations, Shane Robinson, Head Teaching Professional, Gareth Jones, and teaching professionals Adrian Wickstein and Sarah King.

Gareth was awarded the 2015 SA Coach of the Year at the KPMG Celebration of South Australian Sport awards in November, adding to his

2015 Men’s Club ChampionJack Tanner (14 years old)


PGA Teaching Professional of the Year (SA) award at the SA Golf Industry Awards night in October. Gareth has been the driving force behind the implementation of our Club based teaching programs, developing the popular and hugely successful Junior Tigers golf program and Junior High Performance program, implementing world’s best practice training programs for our pennant squads and providing regular men’s and women’s coaching clinics with Shane, Adrian and Sarah.

In 2015, we committed to the national MyGolf program to run in conjunction with our Junior Tigers program, resulting in being awarded the December MyGolf Club of the Month by Golf Australia. A successful talent ID pilot program was established with Sacred Heart College Middle School leading to a number of new junior members joining the Club. A decision by the Committee of Management earlier in the year to reduce junior membership costs also contributed to strong growth in junior membership through 2015.

Our junior program is seen as a benchmark not only in this state but around the country and we continue to strive for excellence amongst our

management and coaching staff to build a stronger Club for future generations.

FOUNDATION & HERITAGE FUNDThe Glenelg Golf Club Foundation was relaunched in 2015 with a fresh new logo and motto “Building a stronger Club for future generations”. The Foundation is committed to supporting, promoting and encouraging participation in golf through a variety of projects that stimulate development and growth, especially amongst our junior members.

The launch took place at the annual Glenelg Golf Club Foundation Day in August which raised more than $20,000 for the Club’s Junior Golf & Elite Player Development Fund. More than 120 players participated in the golf day followed by the Foundation Dinner which was attended by over 170 players, supporters and sponsors. Our junior members were out in force volunteering their time to make the day a huge success.

In total, just under $29,000 was raised by the Foundation during 2015 with expenses totalling just over $36,000. This was the first year our expenses exceeded fundraising and reflects the recent increase in junior membership numbers, but more importantly, their participation in the various junior programs and activities offered throughout the year.

One of the key expenditure items was the High Performance Squad junior trip to Melbourne for the Australian Masters. Twelve of our best juniors were selected to represent the Club on this trip which involved playing golf at our reciprocal clubs, Sorrento, The National and The Dunes, as well as attending the Australian Masters at Huntingdale.

We encourage members to continue to support the Glenelg Golf Club Foundation through ongoing fundraising initiatives and other activities to ensure we can continue

2015 Women’s Club ChampionElysia Yap

2015 Women’s Open ChampionJill Hodge

2015 Girls’ Club ChampionEmma Sutton

2015 Boys’ Club ChampionBen Layton


to provide our members with the best junior golf and elite player development programs in Australia.

No new activity was seen in the Club’s Heritage Fund during 2015.

OUR PEOPLEA club cannot be a club without people and it is fair to say that we have some of the best in the golfing world. We are blessed to have a group of loyal and dedicated people across all facets of our community.

Your Committee of Management has worked diligently and tirelessly during 2015 to help deliver to members what we believe to be the best overall package of golf course, service and facilities in South Australia.

I thank Paul Duregon for his support as Vice-Captain and wish him the best as he takes on the Captaincy in 2016. Our Chair of Finance, Bevan Roberts, and his sub-committee, including John Ranaldo and Greg Rundle, have worked hard to manage the Club’s finances in difficult economic conditions. Kay Nyland and her sub-

committee, including Michael Adair and Brett Jarrad, worked closely with our Golf Operations team to ensure delivery of a comprehensive golf program throughout 2015.

At times, hard decisions were made by the group, sometimes thanklessly, but the group has never wavered from their commitment to the Club.

At the Annual General Meeting in March, another first for the Club (and possibly within the major clubs in SA) saw the appointment of Helen McMutrie as our first female President. Helen is one of our most respected members with extensive experience in volunteer adminstration roles at a state, national and international level. Helen replaced Geoff Gitsham who served as President for six years and we thank him for his contribution during this time.

Our women’s sub-committee again managed a busy match program for our female members under the guidance of Captain, Cathy Johnson and Vice-Captain, Sue Tuohy. Lynne Cotton completed her term as women’s President in October with Liz

Kelton subsequently taking over the role.

One of the very noticeable attributes of our Club is the numerous members who readily volunteer their time and experience to assist with managing pennant teams, refereeing, performing maintenance duties, coaching, marshalling, starting and the many other duties essential to support the operation of the Club throughout the year. We thank them all for their contribution to the Club in 2015.

As previously mentioned, a number of our key management personnel were recognised by industry peers through various awards in 2015.

Our General Manager, David Brand, was awarded the GMASA Excellence in Golf Club Management award, our Course Superintendent, Daryl Sellar, received the AGCSA Excellence in Turf Management, and Gareth Jones was recognised by his peers as the SA PGA Teaching Professional of the Year and SA Coach of the Year. Gareth was also appointed Head Coach of Japan Golf during the year.

Many of the Club’s Past Captains gathered with the current President, Captain and Vice-Captain for the annual Past Captains’ Luncheon in April


Changes in personnel are a nature of life and the Club saw its fair share of staff movements during 2015.

James Hampel joined the administration team in March as our new Membership & Business Development Manager. Since his appointment, James has driven a significant increase in corporate revenue through new memberships and partnerships and continues to provide diligent member services across all levels. James joins our core administration team including Carly Clough, Kerry Crossman and Cathy Symons who provide valuable assistance in keeping our increasingly busy golf club operating smoothly and efficiently.

Anne Szabo, one of our favourite faces from behind the bar, retired late in the year following 14 years of dedicated service and friendly smiles.

We also welcomed our new House Manager, John Lanica, to the Club in November. John was a standout applicant for the position and we look forward to his input and contribution to the Club’s food and beverage operations in years to come.

OBITUARY

Into the silence, we regret the loss of the following members in 2015 and extend our sympathy to relatives and friends:

• John Maddern OAM

• Geoff Cotton

• Brenton Watson

• David Clark

• Brian Dawson

• Graeme Bignell

• Avis Moore

• Helen Godwin

David Tamblyn, Peter Steadman & Doug Omond OAM

Colin Watt & Jane Nelson

Geoff Gitsham, Mike Dobson & Chris Whitford

Rod McMutrie & Richard Bowering

Peter McDonald, Dennis Whitford & Geoff Hallion

Brian Faehse, Gavan Fox & David Tamblyn

Modge Brown, David Lindsay & Graham Webster

Margaret McCann & Marcia Oldfield

Gary Thompson, Leon Grealy & Paul Duregon

David Jervis & Brenton Green


SUMMARY OF ACTIVITIES

JUNIOR GOLF & ELITE PLAYER DEVELOPMENT FUND

INCOME

Saturday competition donations . . . . . . . . . . . . . . . . . . . . . $3,273.63

Captain’s Lunch raffles . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,959.09

Saturday BBQ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $441.90

Member donations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,625.00

Helen Godwin memorial donations . . . . . . . . . . . . . . . . . . . . .$835.00

Foundation golf day . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $20,592.47

TOTAL INCOME . . . . . . . . . . . . . . . . . . . . . . . . . . . . $29,727.09

EXPENSES

Golf SA squad entry fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$1,277.27

Individual junior lessons . . . . . . . . . . . . . . . . . . . . . . . . . . . $10,050.01

Tournament entry fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $7,484.42

Tournament travel expense subsidies . . . . . . . . . . . . . . . . . . $6,377.27

Junior Tigers & High Performance clinics . . . . . . . . . . . . . . $4,818.18

Junior High Performance squad trip . . . . . . . . . . . . . . . . . . . $6,271.33

TOTAL EXPENSES . . . . . . . . . . . . . . . . . . . . . . . . . . . $36,278.48

JUNIOR GOLF & ELITE PLAYER DEVELOPMENT FUND BALANCE: $31,579.24

INFRASTRUCTURE DEVELOPMENT FUND BALANCE: $8,474.75No movement in 2015

Building a stronger Club for future generationsFOUNDATIONGlenelg Golf Club

School Holiday Junior Clinics were held in October and December with maximum attendances

The Club’s Junior Development Program continues to grow from strength to strength

The Foundation Day was a huge success, raising over $20k on the day for junior golf

12 of our best juniors were selected to represent the Club on the Junior HP Trip to Melbourne


50 YEAR CLUBGlenelg Golf Club has a rich tradition and history, much of which derives from the support and loyalty of our members. We believe it is important to recognise our long-standing members who have given so much to our Club over the many years of their membership.

Below is a list of current members who have been with Glenelg Golf Club for over 50 years. We thank them for their ongoing loyalty and support and welcome them into the “50 Year Club”.

60+ Cant, DonaldDiercks, LesFaehse, BrianLynas, Maxine

Omond OAM, DougPitcher, Elizabeth Sanderson, PaulineShea, Elliott

Steadman, PeterTaplin, NoelWatson OAM, Rhonda

50+ Barton, BillBowering, RichardBrown, ModgeChapple, GeoffCook, JonathanCock, GeoffDewar, ColinDibben, JohnDobson, MichaelDrew, PeterEllis, ChrisFollett, RodGitsham, GeoffGrealy, LeonGreen, BrentonHallion, GeoffHandford, John

Harris, CharlesJenkins, MalcolmJervis, DavidJolley, RobertJordan, AlecLahiff, DavidLindsay, DavidManser, Bernie McCann, MargaretMcDonald, PeterMcEntee, JohnMcInerney, PatMcKee, StephenMcMutrie, RodMestrov, TomNelson, Jane

Nicholls, RobertNunn, DennisOldfield, MarciaStanbury, DennisSymons, CathyTamblyn, DavidThompson, GaryTully, JohnWaddy, BettyWatt, ColinWebster, GrahamWheatley, Janice Wheatley, PeterWhitford, ChrisWhitford, DennisWhitford, Tony

50 YEAR CLUB

Opening balance:.................................................$22,599.00

Interest earned: .........................................................$356.00

HERITAGE FUND BALANCE: $22,955.00 as at 31st December 2015

Heritage Fund Members Securing the Club for Members both now and in the future.

HERITAGE FUNDSUMMARY OF ACTIVITIES

1927 Founders’ Society Sapphire MemberOWEN BURGAN (2012)

Heritage Society MembersNOEL TAPLIN (2012)

JOHN MADDERN AM (2013)

GEOFF GITSHAM (2013)

GLENELG GOLF LINKS SHAREHOLDERS (2013)


Category Male Female 2015 2014 2013 2012 2011 2010

Life 2 2 4 5 5 5 5 5

Full 452 53 505 546 574 609 639 725

Full Paid 26 0 26 29 29 34 34 35

Company 49 5 54 55 54 53 52 53

Provisional 116 38 154 151 167 177 208 201

Intermediate 38 6 44 41 44 45 50 53

Six Day 62 43 105 97 91 73 54 0

Weekday 117 52 169 175 170 163 158 156

Veteran 3 1 4 5 9 10 8 4

Junior 30 7 37 22 22 26 46 63

Junior Country 0 0 0 0 0 1 1 2

Country 74 6 80 76 89 99 93 96

Corporate 45 0 45 18 13 12 2 1

Temporary 11 5 16 15 16 17 34 9

Casual 19 1 20 20 25 31 22 19

Introductory 18 1 19 6 0 0 0 0

Try Golf 0 19 19 20 15 26 26 26

Twilight 6 1 7 1 0 0 0 0

Social 33 0 33 49 55 62 60 79

Non-Playing/Pinehill 40 8 48 28 21 21 26 28

PGA Member 2 2 4 4 4 4 4 3

Honorary 16 0 16 16 15 16 17 16

Honorary Social 1 0 1 1 1 2 3 3

TOTAL 1,160 250 1,410 1,380 1,419 1,489 1,542 1,577

Full Member Equivalent Numbers (FMEs) 892.7 931.8 967.8 1014.2 1066.2 1093.8

MEMBERSHIP STATUSFor the year ending 31st December 2015


PERFORMANCES OF NOTEFor the year ending 31st December 2015

INDIVIDUAL RESULTS

STATE REPRESENTATION

MEN Lachlan Barker, Sam Earl, Joshua Hayes

WOMEN Jenny Lee (Captain)

BOYS Lachlan Barker (Captain)

GIRLS Emma Sutton, Matilda Wheare

SA/VIC BORDER CHALLENGE Country: Lachlan Barker, Ben Layton Metropolitan: Jackson Kalz, Liam Kennewell, Frank Vucic

SECONDARY SCHOOLS SPORT STATE TEAM Jackson Kalz, Liam Kennewell, Ben Layton

TIER 1 Lachlan Barker, Sam Burton, Joshua Hayes, Ben Layton

TALENT ID Harrison Edwards, Josh Gumm, Marcus Kuys, Jacob Rillotta, Mitchell Ward

TIER 2 Boys: Aaron Buchanan, Jack Buchanan, Harry Burner, Jackson Kalz, Liam Kennewell, Jack Tanner, Frank Vucic Girls: Emma Sutton, Matilda Wheare

STATE HIGH PERFORMANCE SQUADS

Lachlan Barker: Thunderbird International Junior Event Jenny Lee: Astor Trophy Ben Layton: Aaron Baddeley World Final

Golf SA Men’s Amateur Champion: Lachlan Barker

Golf SA Boys’ Amateur Champion: Will Starkey

Golf SA Foursomes Champions: Elysia Yap & Matilda Wheare

Golf SA Mixed Foursomes Champions: Mark McDonald & Elysia Yap

Golf SA Junior Vardon Trophy: Lachlan Barker

Golf SA Country Champion: Deb Christie

Golf SA Senior Cup: John Keogh

SA Medallist: Sam Earl

Srixon International Junior Classic Boys 14 and under: Liam Kennewell

Tea Tree Gully Junior Vardon: Lachlan Barker

Fleurieu Women’s Vardon: Elysia Yap

Fleurieu Junior Vardon: Lachlan Barker

Flagstaff Hill Women’s Vardon: Elysia Yap

Blackwood Junior Vardon: Lachlan Barker

Glenelg Vardon: Connor Chant

Glenelg Women’s Vardon: Elysia Yap

Glenelg Junior Vardon: Ben Layton

Thaxted Park Junior Vardon: Lachlan Barker

NATIONAL REPRESENTATION

2015 SA Amateur ChampionLachlan Barker (16 years old)

2015 SA Boys’ Amateur ChampionWill Starkey (17 years old)

2015 Glenelg Junior Vardon ChampionBen Layton (16 years old)

2015 Golf SA Mixed Foursomes ChampionsMark McDonald & Elysia Yap

National Representative - Astor TrophyJenny Lee


Year President Captain Vice-Captain Year President Captain Vice-Captain

1927 A.J. Roberts S. Jackman F.G. Hicks 1972 N.E. Bagshaw J.D. Omond M.C.E. Summers

1928 A.J. Roberts S. Jackman F.G. Hicks 1973 N.E. Bagshaw J.D. Omond M.C.E. Summers

1929 A.J. Roberts S. Jackman F.G. Hicks 1974 N.E. Bagshaw M.C.E. Summers R.B. Bennett

1930 A.J. Roberts S. Jackman F.G. Hicks 1975 N.E. Bagshaw M.C.E. Summers R.B. Bennett

1931 A.J. Roberts F.G. Hicks John Hill 1976 F.G. Collins R.B. Bennett G.A. Hodgson

1932 Not Appointed F.G. Hicks John Hill 1977 F.G. Collins R.B. Bennett G.A. Hodgson

1933 W. Fisk John Hill G. McLeay 1978 F.G. Collins G.A. Hodgson H.T. Slade

1934 W. Fisk John Hill G. McLeay 1979 F.G. Collins G.A. Hodgson H.T. Slade

1935 W. Fisk J.E. Ashton G. McLeay 1980 F.G. Collins H.T. Slade B.J. Manser

1936 W. Fisk J.E. Ashton G. McLeay 1981 F.G. Collins H.T. Slade B.J. Manser

1937 W. Fisk K.C. Crookall Dr. A.H. Guymer 1982 F.G. Collins B.J. Manser J.E.O. Handford

1938 W. Fisk Dr. A.H. Guymer Dr. C.B. Maddern 1983 F.G. Collins B.J. Manser J.E.O. Handford

1939 Frank Smith Dr. A.H. Guymer J.E. McKee 1984 R.B. Bennett J.E.O. Handford G.D. Gitsham

1940 Frank Smith J.E. McKee V.M. Thomas 1985 R.B. Bennett J.E.O. Handford G.D. Gitsham

1941 Frank Smith V.M. Thomas W.B. Holt 1986 R.B. Bennett G.D. Gitsham A.K. Whitford

1942 Frank Smith V.M. Thomas W.B. Holt 1987 R.B. Bennett G.D. Gitsham A.K. Whitford

1943 Frank Smith V.M. Thomas W.B. Holt 1988 R.B. Bennett A.K. Whitford D.N. Barton

1944 Baden Pattinson V.M. Thomas W.B. Holt 1989 R.B. Bennett A.K. Whitford D.N. Barton

1945 Baden Pattinson W.B. Holt A.C. Brooke 1990 R.B. Bennett D.N. Barton J.L. Waddy

1946 Baden Pattinson W.B. Holt A.C. Brooke 1991 R.B. Bennett D.N. Barton J.L. Waddy

1947 W. Allen E.Caradoc Ashton S.N. McKee 1992 R.B. Bennett J.L. Waddy J.R. Giles

1948 H.H. Handby E.Caradoc Ashton S.N. McKee 1993 R.B. Bennett J.L. Waddy J.R. Giles

1949 H.H. Handby E.Caradoc Ashton S.N. McKee 1994 D.N. Barton J.R. Giles J.A. Rawson

1950 C.H. Fidock S.N. McKee F.G. Collins 1995 D.N. Barton J.R. Giles J.A. Rawson

1951 C.H. Fidock S.N. McKee F.G. Collins 1996 D.N. Barton J.A. Rawson I.P. Symons

1952 C.H. Fidock F.G. Collins S.D. Harris 1997 D.N. Barton J.A. Rawson I.P. Symons

1953 C.W. Anderson F.G. Collins S.D. Harris 1998 D.N. Barton I.P. Symons D.M. Lindsay

1954 C.W. Anderson S.D. Harris D.M. Watson 1999 J.L. Waddy I.P. Symons D.M. Lindsay

1955 C.W. Anderson S.D. Harris D.M. Watson 2000 J.L. Waddy D.M. Lindsay C.R. Whitford

1956 C.W. Anderson S.D. Harris D.M. Watson 2001 J.L. Waddy D.M. Lindsay C.R. Whitford

1957 C.W. Anderson D.M. Watson C.M. Wood 2002 J.L. Waddy C.R. Whitford P.J. Norman

1958 C.W. Anderson D.M. Watson C.M. Wood 2003 J.L. Waddy C.R. Whitford P.J. Norman

1959 C.W. Anderson D.M. Watson C.M. Wood 2004 B.J. Manser P.J. Norman I.R. Brooks

1960 W.J. Parkinson C.M. Wood N.E. Bagshaw 2005 B.J. Manser P.J. Norman I.R. Brooks

1961 W.J. Parkinson C.M. Wood N.E. Bagshaw 2006 B.J. Manser I.R. Brooks P.R. McGrath

1962 W.J. Parkinson N.E. Bagshaw P.T. Morton 2007 B.J. Manser I.R. Brooks P.R. McGrath

1963 W.J. Parkinson N.E. Bagshaw P.T. Morton 2008 B.J. Manser P.R. McGrath N.J. Johnson

1964 N.E. Bagshaw N.E. Bagshaw P.T. Morton 2009 G.D. Gitsham P.R. McGrath N.J. Johnson

1965 N.E. Bagshaw P.T. Morton J.A. Butler 2010 G.D. Gitsham N.J. Johnson A.J. Martin

1966 N.E. Bagshaw P.T. Morton J.A. Butler 2011 G.D. Gitsham N.J. Johnson A.J. Martin

1967 N.E. Bagshaw J.A. Butler J.A. Manning 2012 G.D. Gitsham A.J. Martin G.M. Fox

1968 N.E. Bagshaw J.A. Butler J.A. Manning 2013 G.D. Gitsham A.J. Martin G.M. Fox

1969 N.E. Bagshaw J.A. Manning J.R. Alderman 2014 G.D. Gitsham G.M. Fox P.B. Duregon

1970 N.E. Bagshaw J.R. Alderman J.D. Omond 2015 H. McMutrie G.M. Fox P.B. Duregon

1971 N.E. Bagshaw J.R. Alderman J.D. Omond

OFFICE BEARERS 1927-2015


Name Years Name Years Name Years Name Years

Adair, M.S. 2 Hartford, B.B. 1 Merrett, A.F. 6 Whitford, A.K. 12

Alderman, J.R. 24 Hendry, J.M. 2 Morton, P.T. 23 Whitford, C.R. 10

Allen, W.S. 16 Hewett, L.P. 2 Nelson, R.A. 2 Wood, C.M. 11

Ashton, E.C. 11 Hicks, F.G. 5 Newton, R. 4 Wood, L.M. 4

Ashton, J.E. 16 Hill, J. 5 Norman, P.J. 9 Wood, W.C. 2

Bagshaw, N.E. 11 Hodgson, G.A. 13 Nyland, K. 7 Woolcott, E.S. 3

Barton, D.N. 13 Hodgson, J.W. 1 O’Brien, G.P. 6 Wright, H.F. 6

Bennett, R.B. 9 Holt, W.B. 9 Omond, J.D. 21 Young, W.D. 2

Bishop, W.P. 6 Hull, S.C. 2 Palmer, J.S. 4

Briscoe, P.C.A. 11 Humphries, W.G. 5 Percival, S.T.P. 1

Brooke, A.C. 6 Jackman, A.J. 2 Phillips, D.W. 2

Brooks, I.R. 10 Jackman, J.W. 1 Phillips, M.B. 14

Brooks, L.A. 1 Jackman, S. 4 Price, W.D. 1

Burgen, O.T. 3 Jarrad, B. 6 Pritchard, W.A. 2

Butler, J.A. 11 Johnson, A.C.M. 7 Ranaldo, J 2

Campbell, K.S. 3 Johnson, N.J. 6 Rawson, J.A. 11

Chamberlain, R.R. 1 Johnson, W.G. 2 Rawson, K.A. 16

Chapple, G.B. 3 Kenny, J.P. 1 Reade, T.C. 6

Collins, F.G. 21 Kimber, A.W. 4 Roberts, B.M. 3

Connelly, P.F. 3 Koukourou, S. 8 Rundle, G.C. 3

Crookall, K.C. 2 Lacey, E.H. 2 Sando, H.H. 3

Cudmore, D.C. 2 Lewis, F.A. 24 Sands, R.G. 3

Dale, M.E. 9 Lindsay, D.M. 8 Sauerbier, L.C. 3

Darling, A.E. 12 Maddern, Dr. C.B. 1 Skinner, L.P. 5

Dignan, J.A. 1 Maddern, J.P. 5 Slade, H.T. 11

Duregon, P.B. 5 Mahoney, W.J. 5 Stanhope, B.H. 1

Ellers, L.G. 3 Mallen, L. 3 Stevens, G.B. 5

English, R.J. 10 Manning, J.A. 7 Stevens, R.F. 8

Ferris, B.T. 4 Manser, B.J. 12 Still, J.A. 4

Flehr, B.E. 4 Marshall, A.K. 1 Stone, J.C.F. 3

Follett, R.M. 7 Martin, A.J. 8 Summers, M.C.E. 20

Foster, G.C. 1 Martin, S.G. 2 Symons, I.P. 10

Fox, G.M. 9 Mausolf, N. 6 Thomas, V.M. 6

Frances, I.K. 2 McCarter, L. 5 Thompson, G.R. 4

Freeman, R.E.N. 3 McCarthy, K.J. 6 Trabilsie, F.J. 7

Giles, J.R. 10 McFarlane, A. 3 Truscott, R.W. 1

Gillespie, D.P. 3 McFarlane, K.B. 3 Vivian, A.B. 5

Gillman, J.F. 1 McGlasson, A. 6 Waddy, J.L. 6

Gitsham, G.D. 6 McGrath, P.R. 8 Walsh, T.I. 6

Goldsworthy, J.S. 2 McKee, J.E. 5 Warburton, C. 9

Guy, G.R. 3 McKee, S.N. 12 Watson, D.M. 21

Guymer, Dr. A.H. 3 McLeay, G. 2 Watson, E.J. 1

Handford, J.E.O. 10 McLuckie, R. 3 Weston, G.W. 3

Harris, S.D. 12 McMutrie, H. 6 Wheatley, J.A. 9

COMMITTEE MEMBERS 1927-2015


Event Winner Runner Up

Men’s Club Championship Jack Tanner Anthony Olsen

Women’s Club Championship Elysia Yap Louise Pike

RF Stevens Trophy Anthony Olsen

Men’s B Grade Championship Scott Franks Paul Duregon

Men’s C Grade Championship Austin Baker Ron Heald

Women’s B Grade Championship Imelda Lynch Christina Larsen

Women’s C Grade Championship Carmel Fairweather Lynne Cotton

Men’s A Grade Plate Brian Welsh Mark Dignan

Men’s B Grade Plate Phil Maunder Robert Schmidt

Men’s C Grade Plate Bevan Roberts John Tregeagle

Boys’ Club Championship Ben Layton Jackson Kalz

Girls’ Club Championship Emma Sutton Hyoyi Pyun

Men’s Senior Championship Neil Higgins Wayne Humphries

Jimmy McLachlan Memorial Trophy Sam Hughes Will Starkey

Women’s Open Championship Jill Hodge Sophie James

Men’s Foursomes Championship Anthony Olsen & Andrew Grzybowski

Women’s Foursomes Championship Jill Hodge & Rebecca Hughes

Men’s A Grade Foursomes Jackson Kalz & James Bridgen

Men’s B Grade Foursomes Mark Footner & Phil Miller

Men’s C Grade Foursomes Harry Larsen & John Jeffery

Women’s B Grade Foursomes Championship Marg Gordon & Annette Rieniets

Women’s C Grade Foursomes Championship Carmel Fairweather & Vivian King

Mixed Foursomes Championship Mark McDonald & Elysia Yap

Rhonda Watson Brooch (Gross) GLENELG: Elysia Yap, Samantha White, Louise Pike

Rhonda Watson Brooch (Net) KOOYONGA: Lyn McGough, Deb Percey, Jill Trenorden

Brian Ferris Memorial Trophy Connor Chant (Glenelg) Will Starkey (Glenelg)

Eric Scovell Junior Vardon Trophy Ben Layton (Glenelg) Billy Cawthorne (Royal Adelaide)

Glenelg Women’s Vardon Elysia Yap (Glenelg) Ella Adams (The Grange)

Owen Whitford Trophy Jim & Cathy Johnson Grant & Anne Threadgold

Lance Begg Trophy Tony & Ruth Martin

Winter Pinehurst Foursomes Trophy Phil & Wendy Greig

Don Harris Memorial Trophy Jeff & Deb Faust

Tuohy Trophy Craig & Colin Coleman

Burgandy Trophy Matt Hickman & Kym Dean

CLUB CHAMPIONSHIPS & CLUB TROPHY WINNERSFor the year ending 31st December 2015


Men’s Event Winner Men’s Event Winner

Governor’s Cup Keith Plummer (Kooyonga) Glenelg Trophy (Juniors) Jackson Kalz

Senior Cup Steve McCarthy Boys’ Handicap Matchplay Jack Tanner

Anzac Trophy Ian Mather Rawson Memorial Adam Rice

Captain’s Trophy Glenn Sterrey Don Watson Memorial Rob Arbon

President’s Trophy Brenton Kalz & Josh Hodgson Frank Collins Memorial James McDonald

Glenelg Trophy Josh Hodgson AH Smerdon Memorial Dale Baker

Sam Percival Trophy Bill Ferguson Steve McKee Memorial Alan Turner

Milo Sprod Trophy Adrian Edgar Summer Cup Kevin Thomas / Ian Foord

Reg Sands Starter’s Trophy Morrie Croucher Harold Wright Memorial Grant Goodier

Norm Omond Medals A Grade: Matt Fitzgerald Men’s Winter Matchplay Aaron Buchanan

B Grade: Kym Burns Men’s Summer Matchplay Anton Clovicko

C Grade: Neil Day Brian Bashford Memorial David Trembath

Women’s Event Winner Women’s Event Winner

President’s Foursomes Imelda Lynch & Jill Gehling Shylie Rymill Foursomes Anne Hooper & Bev Franklin

Captain’s Trophy Imelda Lynch Consistency Cup Janet Fleer

Laurel Wreath Imelda Lynch Aggregate Par Trophy Nuala Oades

International Bowl Silver: Sue Smallacombe Veterans’ Handicap Ruth Croall

Bronze: Anne Hooper Veterans’ Handicap Gross Helen McMutrie

Shane Robinson Trophy Nancy Bartlett Veterans’ Handicap Net Sandy Francas

Club Medal 1 Anne Hooper Essex Stroke Silver: Kerry Larsen

Club Medal 2 Fiona Eblen Bronze: Anne Hooper

Club Medal 3 Pat Crowhurst Extreme Veterans’ Trophy Eyvonne Du-Rieu

Club Medal 4 Cathy Symons/Marie Winter Most Improved Handicap Bev Franklin

Caddy Trophy Joy Green Jacka Trophy Sarah Crocker

Past Committee Trophy Christina Larsen Turkey Gobbler Margaret Whelan

Grandmothers’ Trophy Janet Fleer Joanne Sims Trophy A Grade: Jill Gehling

Putting Trophy Cathy Symons B Grade: Judy Holst

Wallace Stroke Louise Pike C Grade: Margaret McCann

Parfection Prize Peggy Lau-Flux

Ella Cole Trophy Emma Sutton

Holes In One

Ralph Faithfull (January) - 11th Hole Jill Hodge (May) - 14th Hole Peter Hawke (December) - 14th Hole

Kenton Inns (January) - 11th Hole Ken Evans (June) - 14th Hole Calvin Perks (December) - 16th Hole

Scott Franks (January) - 16th Hole Janet Fleer (August) - 16th Hole Darren Royals (December) - 14th Hole

Roger Blows (January) - 3rd Hole David Shetliffe (August) - 11th Hole Louis Langanis (December) - 3rd Hole

Jane Nelson (January) - 11th Hole Jan Dale-Harris (October) - 11th Hole

Roger Attenborough (April) - 11th Hole John Noble (November) - 14th Hole

Peter Hooper (May) - 11th Hole Anthony Doyle (November) - 11th Hole

2015 Annual Report22 2015 Annual Report22

GLENELG GOLF CLUB INCORPORATEDAND CONTROLLED ENTITY

STATEMENT OF COMPREHENSIVE INCOMEFOR THE YEAR ENDED 31 DECEMBER 2015

Note Consolidated Golf Club2015 2014 2015 2014

NET INCOME $ $ $ $

MembershipSubscriptions 1,938,190 1,882,576 1,938,190 1,882,576 Entrance Fees 191,526 224,964 191,526 224,964 Infrastructure Levy 268,787 282,507 268,787 282,507 Bag & Buggy Storage 55,680 54,258 55,680 54,258 Locker Fees 16,942 15,963 16,942 15,963

2,471,125 2,460,268 2,471,125 2,460,268 Golf OperationsCompetition Fees 71,565 67,436 71,565 67,436 Green Fees 415,896 364,427 415,896 364,427 Cart Hire 99,930 75,291 99,930 75,291 Range Income 5,001 36,241 5,001 36,241 Affiliation Fees 1,303 (1,353) 1,303 (1,353) Trophies (51,420) (46,680) (51,420) (46,680) Professional Retainer (117,300) (117,876) (117,300) (117,876) Depreciation (37,503) (29,878) (37,503) (29,878) Other Golf Operations Expenses (144,178) (126,414) (144,178) (126,414)

243,294 221,194 243,294 221,194 BarSales 1,063,445 1,033,832 1,063,445 1,033,832 Less Cost of Goods Sold (376,826) (379,575) (376,826) (379,575) Gross Profit 686,619 654,257 686,619 654,257 Less ExpenditureSalaries and Associated Costs (435,747) (375,131) (435,747) (375,131) Replacements and Repairs (5,817) (15,501) (5,817) (15,501) Other Expenses (38,694) (34,492) (38,694) (34,492) Depreciation (4,677) (5,409) (4,677) (5,409)

201,684 223,724 201,684 223,724 CateringSales 1,382,940 1,369,538 1,382,940 1,369,538 Less Cost of Goods Sold (527,547) (518,051) (527,547) (518,051) Gross Profit 855,393 851,487 855,393 851,487 Less ExpenditureSalaries and Associated Costs (655,265) (644,579) (655,265) (644,579) Laundry (31,914) (27,762) (31,914) (27,762) Replacements and Repairs (11,632) (13,471) (11,632) (13,471) Cleaning Materials (7,404) (5,452) (7,404) (5,452) Stationery and Advertising (7,596) (5,812) (7,596) (5,812) Other Expenses (19,962) (20,459) (19,962) (20,459) Depreciation (22,679) (18,304) (22,679) (18,304)

98,941 115,648 98,941 115,648 Other IncomeCatering Levy forfeited 72,069 81,131 72,069 81,131 Interest Received 5,208 10,131 5,208 10,131 Phone Tower 51,120 48,686 51,120 48,686 Miscellaneous 28,539 48,477 28,539 48,477

156,936 188,425 156,936 188,425

TOTAL NET INCOME 3,171,980 3,209,259 3,171,980 3,209,259

The accompanying notes form part of these accounts

2015 Annual Report 232015 Annual Report 23




NET INCOME $ $ $ $

MembershipSubscriptions 1,938,190 1,882,576 1,938,190 1,882,576 Entrance Fees 191,526 224,964 191,526 224,964 Infrastructure Levy 268,787 282,507 268,787 282,507 Bag & Buggy Storage 55,680 54,258 55,680 54,258 Locker Fees 16,942 15,963 16,942 15,963

2,471,125 2,460,268 2,471,125 2,460,268 Golf OperationsCompetition Fees 71,565 67,436 71,565 67,436 Green Fees 415,896 364,427 415,896 364,427 Cart Hire 99,930 75,291 99,930 75,291 Range Income 5,001 36,241 5,001 36,241 Affiliation Fees 1,303 (1,353) 1,303 (1,353) Trophies (51,420) (46,680) (51,420) (46,680) Professional Retainer (117,300) (117,876) (117,300) (117,876) Depreciation (37,503) (29,878) (37,503) (29,878) Other Golf Operations Expenses (144,178) (126,414) (144,178) (126,414)

243,294 221,194 243,294 221,194 BarSales 1,063,445 1,033,832 1,063,445 1,033,832 Less Cost of Goods Sold (376,826) (379,575) (376,826) (379,575) Gross Profit 686,619 654,257 686,619 654,257 Less ExpenditureSalaries and Associated Costs (435,747) (375,131) (435,747) (375,131) Replacements and Repairs (5,817) (15,501) (5,817) (15,501) Other Expenses (38,694) (34,492) (38,694) (34,492) Depreciation (4,677) (5,409) (4,677) (5,409)

201,684 223,724 201,684 223,724 CateringSales 1,382,940 1,369,538 1,382,940 1,369,538 Less Cost of Goods Sold (527,547) (518,051) (527,547) (518,051) Gross Profit 855,393 851,487 855,393 851,487 Less ExpenditureSalaries and Associated Costs (655,265) (644,579) (655,265) (644,579) Laundry (31,914) (27,762) (31,914) (27,762) Replacements and Repairs (11,632) (13,471) (11,632) (13,471) Cleaning Materials (7,404) (5,452) (7,404) (5,452) Stationery and Advertising (7,596) (5,812) (7,596) (5,812) Other Expenses (19,962) (20,459) (19,962) (20,459) Depreciation (22,679) (18,304) (22,679) (18,304)

98,941 115,648 98,941 115,648 Other IncomeCatering Levy forfeited 72,069 81,131 72,069 81,131 Interest Received 5,208 10,131 5,208 10,131 Phone Tower 51,120 48,686 51,120 48,686 Miscellaneous 28,539 48,477 28,539 48,477

156,936 188,425 156,936 188,425

TOTAL NET INCOME 3,171,980 3,209,259 3,171,980 3,209,259





EXPENDITURE $ $ $ $

Administration and Support ServicesSalaries and Associated Costs 443,554 436,761 443,554 436,761 Audit Fees 9,300 9,225 9,300 9,225 Advertising 83,870 55,021 83,870 55,021 Depreciation 22,634 23,618 22,634 23,618 Finance Costs 47,137 92,327 47,137 92,327 Bank Charges & Merchant Fees 50,293 57,316 50,293 57,316 Insurance 38,787 38,858 38,787 38,858 Postage, Printing and Stationery 18,972 29,364 18,972 29,364 Telephone 13,554 15,355 13,554 15,355 Council Rates 45,438 44,232 45,438 44,232 Legal and Consulting 2,210 525 2,210 525 Travel and Accommodation 2,302 - 2,302 - Computer Consumables and Maintenance 39,745 37,822 39,745 37,822 Other Administration Expenses 70,844 71,642 70,844 71,642

888,640 912,066 888,640 912,066 CourseSalaries and Associated Costs 923,414 842,343 923,414 842,343 Maintenance 199,830 196,527 199,830 196,527 Power 58,225 60,213 58,225 60,213 Enhancement 32,329 53,985 32,329 53,985 Irrigation 19,632 19,849 19,632 19,849 Landscape Maintenance 4,876 15,284 4,876 15,284 RIVAP - 400 - 400 Machinery 60,809 73,779 60,809 73,779 ASR Expenses 16,835 17,527 16,835 17,527 Other Expenses 126,853 93,577 126,853 93,577 Depreciation 310,108 308,780 310,108 308,780

1,752,911 1,682,264 1,752,911 1,682,264 HouseLaundry 12,425 10,216 12,425 10,216 Repairs and Maintenance 53,402 45,901 53,402 45,901 Contract Cleaning 107,058 91,210 107,058 91,210 Light, Power and Water 108,360 109,084 108,360 109,084 Other House Expenses 38,703 35,525 38,703 35,525 Depreciation 185,941 196,708 185,941 196,708

505,889 488,644 505,889 488,644 Other Expenses(Profit)/Loss on Sale of Fixed Asset (19,500) (16,597) (19,500) (16,597) Impairment of Financial Asset 4a - - - -

(19,500) (16,597) (19,500) (16,597)

TOTAL EXPENDITURE 3,127,940 3,066,377 3,127,940 3,066,377

NET SURPLUS / (DEFICIT) 44,040 142,882 44,040 142,882

Other Comprehensive Income - - - -

TOTAL COMPREHENSIVE INCOME FOR YEAR 44,040 142,882 44,040 142,882

TOTAL COMPREHENSIVE INCOME 44,040 142,882 44,040 142,882 ATTRIBUTABLE TO EQUITY




STATEMENT OF FINANCIAL POSITIONAS AT 31 DECEMBER 2015


$ $ $ $CURRENT ASSETS

Cash & Cash Equivalents 2 286,222 354,041 286,222 354,041 Trade & Other Receivables 3 166,853 180,132 166,853 180,132 Other Current Assets 92,278 81,406 92,278 81,406 Inventories 125,136 138,290 125,136 138,290 Total Current Assets 670,489 753,869 670,489 753,869

NON-CURRENT ASSETS

Financial Assets 4 11,750 14,000 621,183 623,433 Property, Plant and Equipment 5 6,898,660 7,015,533 6,269,959 6,386,832 Total Non-Current Assets 6,910,410 7,029,533 6,891,142 7,010,265

TOTAL ASSETS 7,580,899 7,783,402 7,561,631 7,764,134

CURRENT LIABILITIES

Trade & Other Payables 6 540,439 431,200 540,376 431,137 Short-Term Provisions 7a 197,691 181,594 197,691 181,594 Short-Term Borrowings 8a 729,042 551,156 729,042 551,156 Other Current Liabilities 10 518,888 552,451 518,888 552,451

Total Current Liabilities 1,986,060 1,716,401 1,985,997 1,716,338

NON-CURRENT LIABILITIES

Long-Term Provisions 7b 182,781 169,941 182,781 169,941 Long-Term Borrowings 8b 1,023,304 1,552,346 1,023,304 1,552,346

Total Non-Current Liabilities 1,206,085 1,722,287 1,206,085 1,722,287

TOTAL LIABILITIES 3,192,145 3,438,688 3,192,082 3,438,625

NET ASSETS 4,388,754 4,344,714 4,369,549 4,325,509

EQUITY

Retained Earnings 4,360,507 4,316,467 4,369,549 4,325,509 Outside Equity Interests in controlled entity 28,247 28,247 - -

TOTAL EQUITY 4,388,754 4,344,714 4,369,549 4,325,509




STATEMENT OF FINANCIAL POSITIONAS AT 31 DECEMBER 2015


$ $ $ $CURRENT ASSETS

Cash & Cash Equivalents 2 286,222 354,041 286,222 354,041 Trade & Other Receivables 3 166,853 180,132 166,853 180,132 Other Current Assets 92,278 81,406 92,278 81,406 Inventories 125,136 138,290 125,136 138,290 Total Current Assets 670,489 753,869 670,489 753,869

NON-CURRENT ASSETS

Financial Assets 4 11,750 14,000 621,183 623,433 Property, Plant and Equipment 5 6,898,660 7,015,533 6,269,959 6,386,832 Total Non-Current Assets 6,910,410 7,029,533 6,891,142 7,010,265

TOTAL ASSETS 7,580,899 7,783,402 7,561,631 7,764,134

CURRENT LIABILITIES

Trade & Other Payables 6 540,439 431,200 540,376 431,137 Short-Term Provisions 7a 197,691 181,594 197,691 181,594 Short-Term Borrowings 8a 729,042 551,156 729,042 551,156 Other Current Liabilities 10 518,888 552,451 518,888 552,451

Total Current Liabilities 1,986,060 1,716,401 1,985,997 1,716,338

NON-CURRENT LIABILITIES

Long-Term Provisions 7b 182,781 169,941 182,781 169,941 Long-Term Borrowings 8b 1,023,304 1,552,346 1,023,304 1,552,346

Total Non-Current Liabilities 1,206,085 1,722,287 1,206,085 1,722,287

TOTAL LIABILITIES 3,192,145 3,438,688 3,192,082 3,438,625

NET ASSETS 4,388,754 4,344,714 4,369,549 4,325,509

EQUITY

Retained Earnings 4,360,507 4,316,467 4,369,549 4,325,509 Outside Equity Interests in controlled entity 28,247 28,247 - -

TOTAL EQUITY 4,388,754 4,344,714 4,369,549 4,325,509



STATEMENT OF CHANGES IN EQUITYFOR THE YEAR ENDED 31 DECEMBER 2015

Retained Outside Equity TotalEarnings Interest

$ $ $Consolidated Entity

Balance at 1 January 2015 4,316,467 28,247 4,344,714 Profit attributable to members of controlling entity 44,040 - 44,040

Balance at 31 December 2015 4,360,507 28,247 4,388,754

Controlling Entity

Balance at 1 January 2015 4,325,509 - 4,325,509 Profit attributable to members of controlling entity 44,040 - 44,040

Balance at 31 December 2015 4,369,549 - 4,369,549

Year End 2014Consolidated Entity

Balance at 1 January 2014 4,173,585 28,247 4,201,832 Profit attributable to members of controlling entity 142,882 - 142,882

Balance at 31 December 2014 4,316,467 28,247 4,344,714

Year End 2014 Controlling Entity

Balance at 1 January 2014 4,182,627 - 4,182,627 Profit attributable to members of controlling entity 142,882 - 142,882

Balance at 31 December 2014 4,325,509 - 4,325,509




STATEMENT OF CASH FLOWSFOR THE YEAR ENDED 31 DECEMBER 2015

Note Consolidated2015 2014 2015 2014

$ $ $ $CASH FLOWS FROM OPERATING ACTIVITIES

Bar and Catering Sales 2,446,385 2,403,370 2,446,385 2,403,370 Subscriptions and Entrance Fees 2,484,404 2,441,196 2,484,404 2,441,196 Green Fees and Competition Fees 592,392 543,395 592,392 543,395 Payments to Suppliers and Employees (4,904,721) (4,582,412) (4,904,721) (4,582,412) Interest Paid (47,137) (92,327) (47,137) (92,327) Donations, Fundraising and Other Sundry Receipts 156,936 188,425 156,936 188,425

NET CASH INFLOW FROM OPERATINGACTIVITIES 11 728,259 901,647 728,259 901,647

CASH FLOWS FROM INVESTINGACTIVITIES

Payments for Property, Plant and Equipment (466,672) (519,299) (466,672) (519,299) Proceeds from Sale of Property, Plant and Equipment 19,500 22,248 19,500 22,248 Return of Capital from ARL 2,250 2,500 2,250 2,500

NET CASH (OUTFLOW) FROMINVESTING ACTIVITIES (444,922) (494,551) (444,922) (494,551)

CASH FLOWS FROM FINANCINGACTIVITIES

Repayment of Borrowing (51,156) (53,296) (51,156) (53,296) Additional Lease Established - 75,501 - 75,501 Repayment of Bank Loan (300,000) (350,000) (300,000) (350,000) Debentures Repaid - - - -

NET CASH PROVIDED INFLOW (OUTFLOW) FROM FINANCING ACTIVITIES (351,156) (327,795) (351,156) (327,795)

NET INCREASE / (DECREASE) IN CASH HELD (67,819) 79,301 (67,819) 79,301

Cash at Beginning of Year 354,041 274,740 354,041 274,740

Cash at End of Year 2 286,222 354,041 286,222 354,041


Golf Club



STATEMENT OF CASH FLOWSFOR THE YEAR ENDED 31 DECEMBER 2015

Note Consolidated2015 2014 2015 2014

$ $ $ $CASH FLOWS FROM OPERATING ACTIVITIES

Bar and Catering Sales 2,446,385 2,403,370 2,446,385 2,403,370 Subscriptions and Entrance Fees 2,484,404 2,441,196 2,484,404 2,441,196 Green Fees and Competition Fees 592,392 543,395 592,392 543,395 Payments to Suppliers and Employees (4,904,721) (4,582,412) (4,904,721) (4,582,412) Interest Paid (47,137) (92,327) (47,137) (92,327) Donations, Fundraising and Other Sundry Receipts 156,936 188,425 156,936 188,425

NET CASH INFLOW FROM OPERATINGACTIVITIES 11 728,259 901,647 728,259 901,647

CASH FLOWS FROM INVESTINGACTIVITIES

Payments for Property, Plant and Equipment (466,672) (519,299) (466,672) (519,299) Proceeds from Sale of Property, Plant and Equipment 19,500 22,248 19,500 22,248 Return of Capital from ARL 2,250 2,500 2,250 2,500

NET CASH (OUTFLOW) FROMINVESTING ACTIVITIES (444,922) (494,551) (444,922) (494,551)

CASH FLOWS FROM FINANCINGACTIVITIES

Repayment of Borrowing (51,156) (53,296) (51,156) (53,296) Additional Lease Established - 75,501 - 75,501 Repayment of Bank Loan (300,000) (350,000) (300,000) (350,000) Debentures Repaid - - - -

NET CASH PROVIDED INFLOW (OUTFLOW) FROM FINANCING ACTIVITIES (351,156) (327,795) (351,156) (327,795)

NET INCREASE / (DECREASE) IN CASH HELD (67,819) 79,301 (67,819) 79,301

Cash at Beginning of Year 354,041 274,740 354,041 274,740

Cash at End of Year 2 286,222 354,041 286,222 354,041


Golf Club

GLENELG GOLF CLUB INCORPORATED

NOTES TO AND FORMING PART OF THE ACCOUNTSFOR THE YEAR ENDED 31 DECEMBER 2015

NOTE 1 - STATEMENT OF SIGNIFICANT ACCOUNTING POLICIES

The financial report is a general purpose financial report that has been prepared in accordance with AustralianAccounting Standards, Australian Accounting Interpretations, other authoritative pronouncements of the Australian Accounting Standards Board and the requirements of the Associations Incorporations Act of South Australia.

The financial report covers the consolidated entity of Glenelg Golf Club Inc as the individual controlling entity andthe controlled entity, Glenelg Golf Links Limited.

The financial report of Glenelg Golf Club Inc and the controlled entity and Glenelg Golf Club Inc as an individualcontrolling entity comply with all Australian equivalents to International Financial Reporting Standards (IFRS) intheir entirety except where compliance is not mandatory for non-corporate entities.

The following is a summary of the material accounting policies adopted by the consolidated entity in preparation of thefinancial report. The accounting policies have been consistently applied unless otherwise stated.

The financial report has been prepared on an accrual basis and is based on historical costs and does not take intoaccount changing money values or, except where stated, current valuations of non-current assets. Cost is based onthe fair values of the consideration given in exchange for assets. Unless otherwise stated, the accounting policies adoptedare consistent with those of the previous year.

Certain new accounting standards and interpretations have been published that are not mandatory for 31 December 2015reporting periods. The consolidated entity's assessment is that there will be no impact from these new standards and interpretations.

a) Principles of Consolidation

The Club controls the share capital of Glenelg Golf Links Limited. The consolidated accounts incorporated the assetsand liabilities of Glenelg Golf Links Limited as at 31 December 2015 and the results of the Company for the periodthen ended. The effects of all transactions between the Club and the Company are eliminated in full. Outside equityinterests in the results and group equity are shown separately in the consolidated profit and loss account and balancesheet respectively.

The cost of acquiring shares in Glenelg Golf Links Limited have been accounted for as an interest in the land owned bythat company and reflected accordingly.

b) Financial Instruments

Financial instruments are initially measured at cost on trade date, which includes transaction costs, when the relatedcontractual rights or obligations exist. Subsequent to initial recognition these instruments are measured as setout below:

Available-for-sale financial assetsAvailable-for-sale financial assets include any financial assets that are not considered to be "loans andreceivables" or held for selling in the short term.Available-for-sale financial assets are reflected at fair value. Where fair value cannot be reliably estimated, theasset is stated at its initial cost. Unrealised gains and losses arising from changes in fair value are taken directlyto equity.

Financial LiabilitiesNon-derivative financial liabilities are recognised at amortised cost, comprising original debt less principal paymentsand amortisation.





c) Property, Plant and Equipment

Each class of property, plant and equipment is carried at cost less, where applicable, any accumulated depreciation andimpairment losses.

Property

Freehold land is shown at cost. Building is shown at cost less any accumulated depreciation and impairment losses.

Plant and Equipment

The depreciable amount of all fixed assets including building, but excluding freehold land, is depreciated on a straightline basis over their useful lives to the consolidated entity commencing from the time the asset is held ready for use.The depreciation rates for each class of depreciable assets are based on the following estimated useful lives, expressed in years:

Category Useful Lives

Administration furniture and fittings 5-11Bar plant and equipment 8-11Catering plant and equipment 7-11Clubhouse building 40-50Clubhouse other 7-11Course buildings 4-25House plant and equipment 8-11Motor vehicles 4-5Office equipment 5-7.5Course plant and equipment 4-11Entrance road 15

d) Impairment of Assets

At each reporting date, the Committee of Management reviews the carrying values of its assets to determine whether there isany indication that those assets have been impaired. If such an indication exists, the recoverable amount of the asset, beingthe higher of the asset's fair value less costs to sell and value in use, is compared to the asset's carrying value. Any excess of the asset's carrying value over its recoverable amount is expensed to the income statement.

Where it is not possible to determine the recoverable amount of an individual asset, the Committee of Management estimatesthe recoverable amount of the cash-generating unit to which the asset belongs.





c) Property, Plant and Equipment

Each class of property, plant and equipment is carried at cost less, where applicable, any accumulated depreciation andimpairment losses.

Property

Freehold land is shown at cost. Building is shown at cost less any accumulated depreciation and impairment losses.

Plant and Equipment

The depreciable amount of all fixed assets including building, but excluding freehold land, is depreciated on a straightline basis over their useful lives to the consolidated entity commencing from the time the asset is held ready for use.The depreciation rates for each class of depreciable assets are based on the following estimated useful lives, expressed in years:

Category Useful Lives

Administration furniture and fittings 5-11Bar plant and equipment 8-11Catering plant and equipment 7-11Clubhouse building 40-50Clubhouse other 7-11Course buildings 4-25House plant and equipment 8-11Motor vehicles 4-5Office equipment 5-7.5Course plant and equipment 4-11Entrance road 15

d) Impairment of Assets

At each reporting date, the Committee of Management reviews the carrying values of its assets to determine whether there isany indication that those assets have been impaired. If such an indication exists, the recoverable amount of the asset, beingthe higher of the asset's fair value less costs to sell and value in use, is compared to the asset's carrying value. Any excess of the asset's carrying value over its recoverable amount is expensed to the income statement.

Where it is not possible to determine the recoverable amount of an individual asset, the Committee of Management estimatesthe recoverable amount of the cash-generating unit to which the asset belongs.




e) Employee Benefits

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

f) Subscription Income

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

g) Income Tax

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

h) Inventories

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

i) Course Redevelopment Expenditure

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

j) Construction - Work In Progress

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

k) Cash and cash equivalents

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

l) Comparative Figures

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





$ $ $ $

NOTE 2 - CASH & CASH EQUIVALENTS

Cash at Bank 250,442 320,152 250,442 320,152 Cash on Hand 12,825 11,290 12,825 11,290 Heritage Fund - Bank Account 22,955 22,599 22,955 22,599

286,222 354,041 286,222 354,041

The effective interest rate on short-term bank deposits was 6.76% (2014: 7.26%); these deposits have an average maturity of 20 days.

Reconciliation of Cash

Cash at the end of the financial year as shown in the statement of cash flows is reconciled to items in the balance sheet as follows:

Cash & Cash Equivalents 286,222 354,041 286,222 354,041

NOTE 3 - TRADE & OTHER RECEIVABLES

Subscription Debtors 12,599 35,144 12,599 35,144 Sundry Debtors 59,034 52,928 59,034 52,928 GST Input Tax Credits 95,220 92,060 95,220 92,060

166,853 180,132 166,853 180,132

NOTE 4 - FINANCIAL ASSETS

Available for sale financial assets comprise of:

Shares - Glenelg Golf Links Ltd - - 608,328 608,328 Premium Income Fund 11,750 14,000 11,750 14,000 Loan - Glenelg Golf Links Ltd - - 1,105 1,105 Total Financial Assets 11,750 14,000 621,183 623,433

(a) The Club has an investment in the following:250,000 units in the Premium Income Fund, which is a managed investment scheme managed by Wellington Capital; and1,250 shares in Asset Resolution Limited (250,000 in 2014). Consolidation occurred 9/12/15.

Whilst the Premium Income Fund is listed, the shares in ARL are not, so an exact carrying value is not available, so there has been no adjustment for impairment ($150,000 in 2009, $83,500 in 2010, nil in 2011, nil in 2012, nil in 2013).

A Capital Return Payment of $2,250 ($2,500 in 2014) from Asset Resolution Limited was received during the 2015 year.

A consolidation of shareholdings occurred on 9/12/15 on the basis that every 200 existing shares would be consolidated toone (1) share. Therefore our 250,000 share holding has been consolidated to 1,250 shares.





$ $ $ $

NOTE 2 - CASH & CASH EQUIVALENTS

Cash at Bank 250,442 320,152 250,442 320,152 Cash on Hand 12,825 11,290 12,825 11,290 Heritage Fund - Bank Account 22,955 22,599 22,955 22,599

286,222 354,041 286,222 354,041

The effective interest rate on short-term bank deposits was 6.76% (2014: 7.26%); these deposits have an average maturity of 20 days.

Reconciliation of Cash

Cash at the end of the financial year as shown in the statement of cash flows is reconciled to items in the balance sheet as follows:

Cash & Cash Equivalents 286,222 354,041 286,222 354,041

NOTE 3 - TRADE & OTHER RECEIVABLES

Subscription Debtors 12,599 35,144 12,599 35,144 Sundry Debtors 59,034 52,928 59,034 52,928 GST Input Tax Credits 95,220 92,060 95,220 92,060

166,853 180,132 166,853 180,132

NOTE 4 - FINANCIAL ASSETS

Available for sale financial assets comprise of:

Shares - Glenelg Golf Links Ltd - - 608,328 608,328 Premium Income Fund 11,750 14,000 11,750 14,000 Loan - Glenelg Golf Links Ltd - - 1,105 1,105 Total Financial Assets 11,750 14,000 621,183 623,433

(a) The Club has an investment in the following:250,000 units in the Premium Income Fund, which is a managed investment scheme managed by Wellington Capital; and1,250 shares in Asset Resolution Limited (250,000 in 2014). Consolidation occurred 9/12/15.

Whilst the Premium Income Fund is listed, the shares in ARL are not, so an exact carrying value is not available, so there has been no adjustment for impairment ($150,000 in 2009, $83,500 in 2010, nil in 2011, nil in 2012, nil in 2013).

A Capital Return Payment of $2,250 ($2,500 in 2014) from Asset Resolution Limited was received during the 2015 year.

A consolidation of shareholdings occurred on 9/12/15 on the basis that every 200 existing shares would be consolidated toone (1) share. Therefore our 250,000 share holding has been consolidated to 1,250 shares.




$ $ $ $

NOTE 5 - PROPERTY, PLANT AND EQUIPMENT

Freehold land 628,704 628,704 - -

Clubhouse 6,037,667 6,017,068 6,037,667 6,017,068Less Accumulated Depreciation (1,709,450) (1,565,500) (1,709,450) (1,565,500)

4,328,217 4,451,568 4,328,217 4,451,568

Clubhouse Plant and Equipment 464,109 396,156 464,109 396,156Less Accumulated Depreciation (356,384) (314,426) (356,384) (314,426)

107,725 81,730 107,725 81,730

Course Buildings 393,260 393,260 393,260 393,260Less Accumulated Depreciation (253,548) (225,944) (253,548) (225,944)

139,712 167,316 139,712 167,316

Administration Plant and Equipment 315,622 301,615 315,622 301,615Less Accumulated Depreciation (295,513) (272,879) (295,513) (272,879)

20,109 28,736 20,109 28,736

Bar Plant and Equipment 153,902 153,902 153,902 153,902Less Accumulated Depreciation (140,376) (135,699) (140,376) (135,699)

13,526 18,203 13,526 18,203

Catering Plant and Equipment 347,168 337,037 347,168 337,037Less Accumulated Depreciation (266,244) (243,566) (266,244) (243,566)

80,924 93,471 80,924 93,471

Golf Carts 140,730 140,730 140,730 140,730 Less Accumulated Depreciation (66,873) (40,190) (66,873) (40,190)

73,857 100,540 73,857 100,540

Course Plant and Equipment 4,277,035 4,394,142 4,263,822 4,380,929 Less Accumulated Depreciation (3,153,374) (3,046,072) (3,140,158) (3,032,856)

1,123,661 1,348,070 1,123,664 1,348,073

Entrance Road & Carpark 547,058 273,697 547,058 273,697 Less Accumulated Depreciation (232,247) (224,604) (232,247) (224,604)

314,811 49,093 314,811 49,093

Capital Improvements 1,163 1,163 1,163 1,163 Less Accumulated Depreciation (950) (918) (950) (918)

213 245 213 245

Range Assets 108,199 78,032 108,199 78,032 Less Accumulated Depreciation (40,998) (30,175) (40,998) (30,175)

67,201 47,857 67,201 47,857

TOTAL PROPERTY, PLANT AND EQUIPMENT 6,898,660 7,015,533 6,269,959 6,386,832




NOTE 5 - PROPERTY, PLANT AND EQUIPMENT (CONT.)

b) Movement in Carrying amountMovement in the carrying amounts for each class of property, plant and equipment between the beginning and the end ofthe current financial year.

Golf Club

Carrying amounts at 1 January 2015 Additions Disposals Depreciation

Write Back of Accumulated Depreciation

Carrying amount at 31 December

2015

Clubhouse 4,451,568 20,599 - (143,950) - 4,328,217 Clubhouse Plant & Equipment 81,730 67,953 - (41,958) - 107,725 Course Buildings 167,316 - - (27,604) - 139,712 Administration Plant & Equipment 28,736 14,008 - (22,635) - 20,109 Bar & Plant Equipment 18,203 - - (4,677) - 13,526 Catering Plant & Equipment 93,471 10,131 - (22,678) - 80,924 Golf Carts 100,540 - - (26,683) - 73,857 Course Plant & Equipment 1,348,073 50,453 (167,560) (274,862) 167,560 1,123,664 Entrance Road & Carpark 49,093 273,361 - (7,643) - 314,811 Range Assets 47,857 30,167 - (10,823) - 67,201 Capital Improvements 245 - - (32) - 213

6,386,832 466,672 (167,560) (583,545) 167,560 6,269,959

Consolidated Entity




2015

Freehold Land 628,704 - - - - 628,704 Clubhouse 4,451,568 20,599 - (143,950) - 4,328,217 Clubhouse Plant & Equipment 81,730 67,953 - (41,958) - 107,725 Course Buildings 167,316 - - (27,604) - 139,712 Administration Plant & Equipment 28,736 14,008 - (22,635) - 20,109 Bar & Plant Equipment 18,203 - - (4,677) - 13,526 Catering Plant & Equipment 93,471 10,131 - (22,678) - 80,924 Golf Carts 100,540 - - (26,683) - 73,857 Course Plant & Equipment 1,348,070 50,453 (167,560) (274,862) 167,560 1,123,661 Entrance Road & Carpark 49,093 273,361 - (7,643) - 314,811 Range Assets 47,857 30,167 - (10,823) - 67,201 Capital Improvements 245 - - (32) - 213

7,015,533 466,672 (167,560) (583,545) 167,560 6,898,660

c) Impairment Losses

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




NOTE 5 - PROPERTY, PLANT AND EQUIPMENT (CONT.)

b) Movement in Carrying amountMovement in the carrying amounts for each class of property, plant and equipment between the beginning and the end ofthe current financial year.

Golf Club




2015

Clubhouse 4,451,568 20,599 - (143,950) - 4,328,217 Clubhouse Plant & Equipment 81,730 67,953 - (41,958) - 107,725 Course Buildings 167,316 - - (27,604) - 139,712 Administration Plant & Equipment 28,736 14,008 - (22,635) - 20,109 Bar & Plant Equipment 18,203 - - (4,677) - 13,526 Catering Plant & Equipment 93,471 10,131 - (22,678) - 80,924 Golf Carts 100,540 - - (26,683) - 73,857 Course Plant & Equipment 1,348,073 50,453 (167,560) (274,862) 167,560 1,123,664 Entrance Road & Carpark 49,093 273,361 - (7,643) - 314,811 Range Assets 47,857 30,167 - (10,823) - 67,201 Capital Improvements 245 - - (32) - 213

6,386,832 466,672 (167,560) (583,545) 167,560 6,269,959

Consolidated Entity




2015

Freehold Land 628,704 - - - - 628,704 Clubhouse 4,451,568 20,599 - (143,950) - 4,328,217 Clubhouse Plant & Equipment 81,730 67,953 - (41,958) - 107,725 Course Buildings 167,316 - - (27,604) - 139,712 Administration Plant & Equipment 28,736 14,008 - (22,635) - 20,109 Bar & Plant Equipment 18,203 - - (4,677) - 13,526 Catering Plant & Equipment 93,471 10,131 - (22,678) - 80,924 Golf Carts 100,540 - - (26,683) - 73,857 Course Plant & Equipment 1,348,070 50,453 (167,560) (274,862) 167,560 1,123,661 Entrance Road & Carpark 49,093 273,361 - (7,643) - 314,811 Range Assets 47,857 30,167 - (10,823) - 67,201 Capital Improvements 245 - - (32) - 213

7,015,533 466,672 (167,560) (583,545) 167,560 6,898,660

c) Impairment Losses

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



Consolidated Golf Club 2015 2014 2015 2014

$ $ $ $NOTE 6 - TRADE & OTHER PAYABLES

Trade Creditors 158,627 336,176 158,627 336,176 Other Creditors 381,812 95,024 381,749 94,961

540,439 431,200 540,376 431,137

NOTE 7 - PROVISIONS

(a) SHORT-TERM PROVISIONS

Annual LeaveOpening Balance 181,594 163,687 181,594 163,687 Additional Provisions Raised 104,770 75,069 104,770 75,069 Amounts Used (88,673) (57,162) (88,673) (57,162)

197,691 181,594 197,691 181,594

(b) LONG-TERM PROVISIONS

Long Service LeaveOpening Balance 169,941 140,505 169,941 140,505 Additional Provisions Raised 32,568 34,994 32,568 34,994 Amounts Used (19,728) (5,558) (19,728) (5,558)

182,781 169,941 182,781 169,941

NOTE 8 - BORROWINGS

(a) SHORT-TERM BORROWINGS

Bank Loan 700,000 500,000 700,000 500,000 Hire Purchase 29,042 51,156 29,042 51,156

729,042 551,156 729,042 551,156

(b) LONG-TERM BORROWINGS

Bank loan 1,000,000 1,500,000 1,000,000 1,500,000 Hire Purchase 22,304 51,346 22,304 51,346 Debentures 1,000 1,000 1,000 1,000

1,023,304 1,552,346 1,023,304 1,552,346

The Club has a loan facility of $2,200,000 which is secured by registered mortgages over land owned by Glenelg Golf Links Limited. At 31 December 2015, $1,700,000 of the Club's facility was utilised ($2,000,000 in 2014).

$1,200,000 of the loan facilities is offset for interest purposes by the balance held in the Club's transaction account. This means theinterest on the $1,200,000 is only payable once the balance on hand falls below $1,200,000.




Consolidated2015 2014 2015 2014

$ $ $ $NOTE 9 - CAPITAL & LEASING COMMITMENTS

Hire Purchase Lease CommitmentsPayable - minimum lease payments

not later than 12 months 29,042 56,561 29,042 56,561 between 12 months & 5 years 22,304 55,701 22,304 55,701 greater than 5 years - - - -

Minimum Lease Payments 51,346 112,262 51,346 112,262

Less Future Finance Charges (4,354) (9,760) (4,354) (9,760) Present Value of Minimum Lease Payments 46,992 102,502 46,992 102,502

Operating Lease Commitment - Toro EquipmentPayable - minimum lease payments

not later than 12 months 102,179 64,029 102,179 64,029 between 12 months & 5 years 252,547 179,871 252,547 179,871


NOTE 10 - OTHER CURRENT LIABILITIES

Catering Deposits 43,850 41,150 43,850 41,150 Green Fee Deposits 10,716 21,822 10,716 21,822 Catering levy unabsorbed 189,646 218,021 189,646 218,021 Wallet account 41,921 29,720 41,921 29,720 Trophy account 23,785 26,037 23,785 26,037 PAYG Tax 29,989 27,949 29,989 27,949 Sundry - - - - GST Payable 115,972 118,197 115,972 118,197 Foundation 40,054 46,956 40,054 46,956 Heritage Fund 22,955 22,599 22,955 22,599

518,888 552,451 518,888 552,451

NOTE 11 - RECONCILIATION OF CASH FLOW FROM OPERATIONS WITH PROFIT FROM OPERATING ACTIVITIES

PROFIT FROM ORDINARY ACTIVITIES 44,040 142,882 44,040 142,882

Non cash flows in profit from ordinary activitiesDepreciation 583,545 582,700 583,545 582,700 Impairment of Financial Asset - - - - Provision for Employee Benefits 28,937 47,343 28,937 47,343 (Profit)/Loss on Sale of Non Current Assets (19,500) (16,597) (19,500) (16,597)

Changes in Assets and Liabilities(Increase)/Decrease in Debtors 13,279 (19,072) 13,279 (19,072) Movement in Loans to Glenelg Golf Links - - - - Increase/(Decrease) in Trade Creditors and Accrued Expenses 75,676 164,041 75,676 164,041 (Increase)/Decrease in Prepayments (10,872) 6,287 (10,872) 6,287 (Increase)/Decrease in Stock 13,154 (5,937) 13,154 (5,937)

NET CASH INFLOW FROM OPERATING ACTIVITIES 728,259 901,647 728,259 901,647

Golf Club




Consolidated2015 2014 2015 2014

$ $ $ $NOTE 9 - CAPITAL & LEASING COMMITMENTS

Hire Purchase Lease CommitmentsPayable - minimum lease payments

not later than 12 months 29,042 56,561 29,042 56,561 between 12 months & 5 years 22,304 55,701 22,304 55,701 greater than 5 years - - - -


Less Future Finance Charges (4,354) (9,760) (4,354) (9,760) Present Value of Minimum Lease Payments 46,992 102,502 46,992 102,502

Operating Lease Commitment - Toro EquipmentPayable - minimum lease payments

not later than 12 months 102,179 64,029 102,179 64,029 between 12 months & 5 years 252,547 179,871 252,547 179,871


NOTE 10 - OTHER CURRENT LIABILITIES

Catering Deposits 43,850 41,150 43,850 41,150 Green Fee Deposits 10,716 21,822 10,716 21,822 Catering levy unabsorbed 189,646 218,021 189,646 218,021 Wallet account 41,921 29,720 41,921 29,720 Trophy account 23,785 26,037 23,785 26,037 PAYG Tax 29,989 27,949 29,989 27,949 Sundry - - - - GST Payable 115,972 118,197 115,972 118,197 Foundation 40,054 46,956 40,054 46,956 Heritage Fund 22,955 22,599 22,955 22,599

518,888 552,451 518,888 552,451

NOTE 11 - RECONCILIATION OF CASH FLOW FROM OPERATIONS WITH PROFIT FROM OPERATING ACTIVITIES

PROFIT FROM ORDINARY ACTIVITIES 44,040 142,882 44,040 142,882

Non cash flows in profit from ordinary activitiesDepreciation 583,545 582,700 583,545 582,700 Impairment of Financial Asset - - - - Provision for Employee Benefits 28,937 47,343 28,937 47,343 (Profit)/Loss on Sale of Non Current Assets (19,500) (16,597) (19,500) (16,597)

Changes in Assets and Liabilities(Increase)/Decrease in Debtors 13,279 (19,072) 13,279 (19,072) Movement in Loans to Glenelg Golf Links - - - - Increase/(Decrease) in Trade Creditors and Accrued Expenses 75,676 164,041 75,676 164,041 (Increase)/Decrease in Prepayments (10,872) 6,287 (10,872) 6,287 (Increase)/Decrease in Stock 13,154 (5,937) 13,154 (5,937)

NET CASH INFLOW FROM OPERATING ACTIVITIES 728,259 901,647 728,259 901,647

Golf Club



NOTE 12 - FINANCIAL INSTRUMENTS

(a) Interest Rate Risk

The Club's exposure to interest rate risk, which is the risk that a financial instrument's value will fluctuate as a result of changesin market interest rates and the effective weighted average on those financial assets and liabilities, is as follows:

2015 2014 2015 2014 2015 2014 2015 2014% % $ $ $ $ $ $

Financial AssetsCash at Bank 6.76 7.26 250,442 320,152 - - - -Cash on Deposit - -

250,442 320,152 - - - -

Financial LiabilitiesBorrowings 2.12 4.45 - - 729,042 551,156 1,023,304 1,552,346

- - 729,042 551,156 1,023,304 1,552,346

(b) Credit Risk

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

(c) Net Fair Values

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

(d) The Club has performed a sensitivity analysis relating to its exposure to interest rate risk at balance date. The sensitivityanalysis demonstrates the effect on the current year results and equity which could result from a change in these risks.

At 31 December 2015, the effect on profit and equity as a result of changes in the interest rate, with all other variablesremaining constant would be as follows:

2015 2014 2015 2014$ $ $ $

Change in ProfitIncrease in the interest rate by 2% (35,027)$ (42,070)$ (35,027)$ (42,070)$ Decrease in the interest rate by 2% 35,027$ 42,070$ 35,027$ 42,070$

Change in EquityIncrease in the interest rate by 2% (35,027)$ (42,070)$ (35,027)$ (42,070)$ Decrease in the interest rate by 2% 35,027$ 42,070$ 35,027$ 42,070$

NOTE 13 - AUDITOR'S REMUNERATION

Remuneration of the auditor of the parent entity for:

Auditing & Reviewing the financial report 9,300 9,150 9,300 9,150 9,300 9,150 9,300 9,150

Within 1 Year 1 to 5 Years

Fixed InterestRate Maturing

Consolidated Golf Club

FloatingInterest

Rate

Weighted AverageEffective Interest

Rate




NOTE 14 - RELATED PARTIES

(a) The Club paid rent of $0 to Glenelg Golf Links Limited in which it has a majority shareholding, for use of the Golf Course(2014 - $0).

(b) The names of the persons who were officers of Glenelg Golf Club Incorporated at any time during the year ended31 December 2015 are as follows:

Gavan M. Fox (Captain)Paul B. Duregon (Vice Captain)Brett D. JarradKay Nyland Elected March 2015John RanaldoBevan RobertsGreg C. RundleMichael S. Adair Elected March 2015

During the year the following related party transactions occurred:

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

NOTE 15 - CONTINGENT LIABILITIES

The Club's objection to the land tax assessment for 2014/15 was upheld and therefore no expense or accrual has been recognised in relation to 2015/16 land tax. The Club understands that Revenue SA intends to review the eligibility for an exemption from land tax at the end of each financial year.

NOTE 16 - AFTER BALANCE DATE EVENTS

No matters or circumstances have arisen since the end of the financial year which significantly affected or may significantly affectthe operations of the entity, the results of those operations, or the state of affairs of the entity in future financial years.

NOTE 17 - ASSOCIATION DETAILS

The principal place of business of the association is 20-118 James Melrose Road, Novar Gardens.




NOTE 14 - RELATED PARTIES

(a) The Club paid rent of $0 to Glenelg Golf Links Limited in which it has a majority shareholding, for use of the Golf Course(2014 - $0).

(b) The names of the persons who were officers of Glenelg Golf Club Incorporated at any time during the year ended31 December 2015 are as follows:

Gavan M. Fox (Captain)Paul B. Duregon (Vice Captain)Brett D. JarradKay Nyland Elected March 2015John RanaldoBevan RobertsGreg C. RundleMichael S. Adair Elected March 2015

During the year the following related party transactions occurred:

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

NOTE 15 - CONTINGENT LIABILITIES

The Club's objection to the land tax assessment for 2014/15 was upheld and therefore no expense or accrual has been recognised in relation to 2015/16 land tax. The Club understands that Revenue SA intends to review the eligibility for an exemption from land tax at the end of each financial year.

NOTE 16 - AFTER BALANCE DATE EVENTS

No matters or circumstances have arisen since the end of the financial year which significantly affected or may significantly affectthe operations of the entity, the results of those operations, or the state of affairs of the entity in future financial years.

NOTE 17 - ASSOCIATION DETAILS

The principal place of business of the association is 20-118 James Melrose Road, Novar Gardens.



NOTE 18 - CAPITAL EXPENDITURE COMMITMENTS$

Capital expenditure commitments contracted for:

Plant & Equipment Purchases - Capital Expenditure Projects -

-

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

-

The committee members control the capital of the Club in order to maintain a good debt-to-equity ratio and to ensure that theClub can fund its operations to continue as a going concern.

The Club's debt and capital includes financial liablities, supported by financial assets.

There are no externally imposed capital requirements.

The committee members effectively manage the Club's capital by assessing the Club's financial risks and adjusting its capital structurein response to changes in these risks and in the market. The responses include the management of debt levels.

There have been no changes in the strategy adopted by management to control the capital of the Club since the prior year. Thisstrategy is to ensure that there is sufficient cash to meet trade and sundry payables and borrowings.

2015 2014

NOTE 19 - CONTROLLED ENTITIESCountry of

IncorporationParent Entity

Glenelg Golf Club Inc AustraliaSubsidiary

Glenelg Golf Links Ltd Australia 62 62

*percentage of voting power in proportion to ownership

Percentage owned (%)*



STATEMENT BY COMMITTEE

In the opinion of the Committee of Management of Glenelg Golf Club Incorporated: (a) The attached consolidated statements of Glenelg Golf Club Incorporated, comprising the balance sheet, income statement, statement of

changes in equity, statement of cash flows and notes to the financial statements for the year ended 31 December 2015 are, in our opinion, properly drawn up so as to give a true and fair view of the state of affairs of the Club and the consolidated entity as at 31 December 2015, and of their results for the year then ended.

(b) At the date of this statement there are reasonable grounds to believe that the Club will be able to pay its debts as and when they fall due. The accounts have been made out in accordance with applicable Accounting Standards. In accordance with section 35(5) of the Associations Incorporations Act, 1985, the Committee of Glenelg Golf Club Incorporated hereby states that during the financial year ended 31 December 2015:

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

sub-contractors.

This report is made in accordance with a resolution of the Committee of Management and signed by two Members of the Committee. Dated this 2nd day of February 2016. GAVAN FOX BEVAN ROBERTS Captain Chair of Finance



STATEMENT BY COMMITTEE

In the opinion of the Committee of Management of Glenelg Golf Club Incorporated: (a) The attached consolidated statements of Glenelg Golf Club Incorporated, comprising the balance sheet, income statement, statement of

changes in equity, statement of cash flows and notes to the financial statements for the year ended 31 December 2015 are, in our opinion, properly drawn up so as to give a true and fair view of the state of affairs of the Club and the consolidated entity as at 31 December 2015, and of their results for the year then ended.

(b) At the date of this statement there are reasonable grounds to believe that the Club will be able to pay its debts as and when they fall due. The accounts have been made out in accordance with applicable Accounting Standards. In accordance with section 35(5) of the Associations Incorporations Act, 1985, the Committee of Glenelg Golf Club Incorporated hereby states that during the financial year ended 31 December 2015:

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

sub-contractors.

This report is made in accordance with a resolution of the Committee of Management and signed by two Members of the Committee. Dated this 2nd day of February 2016. GAVAN FOX BEVAN ROBERTS Captain Chair of Finance


James Melrose Road NOVAR GARDENS SA 5040

Phone: (08) 8350 3200 Fax: (08) 8294 8894

[email protected]

2015 Annual Report

Documents