94th Annual Report 2016 - 2017 - Amazon S3 · 2017-05-06 · THE KEW GOLF CLUB ACN: 004 098 257 120...

94th Annual Report

2016 - 2017

Ninety FOURTH Annual Report of

The Kew Golf ClubACN: 004 098 257

Board of Directors

Officers:Captain

J. L. Doggett

PresidentM. P. Pickering

Vice Captain A. C. Moore

Hon. TreasurerC. A. N. Davey

DirectorsB. A. Aylen

S. D. ValentineP. L. Myers

V. J. Piccolo

Chief Executive OfficerM. P. Loughnane

AuditorYates Partners

Hon. SolicitorM. K. Trumble

Life MembersA. G. DayF. E. Greig

K. G. GubbinsJ. M. Mason

I. RennickS. H. Rowe

J. H. Johnston

1

THE KEW GOLF CLUBACN: 004 098 257 120 Belford Road, Kew East, Victoria 3102

Notice is hereby given that the 94th Annual General Meeting of The Kew Golf Club will be held in the Clubhouse on Tuesday, 30 May 2017 at 7pm.

1. Business:a) To receive the Board’s Report and the Financial Report for the year ended 28 February 2017.

b) To announce the Officers and Board for 2017/2018

c) Any other business of which due notice has been given.

2. Special BusinessTo consider and if thought fit to pass with or without amendment the following Special Resolutions:

No Special Resolutions were put forward.

2 THE KEW GOLF CLUB acn: 004 098 257

The Kew Golf Club ANNUAL REPORT 2016 - 2017

Captain’s Report John DoggettIt is with great pleasure that I present the 94th Annual Captain’s Report for The Kew Golf Club.

As this is my last year as Captain, I would to thank all members for giving me the opportunity to serve this great Club.

In the three years since my election as Captain, and John Isaac as President, the Board will have completed the transformation of the golf course and comprehensive renovations to the clubhouse. Despite this substantial expenditure, the Club is still in a strong financial position and now has a golf course and facilities of which all members can be proud of.

The Year in RetrospectBy the time of the Annual General Meeting I believe that all of the golf course renovations, namely the fairways, greens and bunkers, will have been completed. By the end of August 2017 it is expected that the new irrigation system (which was deemed necessary because of the failure of the old system) will be completely installed. The refurbishment of the Dining Room and the Wischer Room was also completed, which included painting, carpet, lighting, wallpaper and the removal of the column between the two rooms.

The board over the last 3 years has had in place a Strategic Plan that outlined change, particularly to the course and facilities for members. The current Board has accelerated this change and we would like to thank members for their patience and tolerance over this period.

In addition to the above, the Board’s achievements during the year include:

– Regular financial updates to Members;

– Revision of the Strategic Plan;

– Improved media and PA systems;

– Installation of a new warning system on the golf course;

– A Member survey;

– Renovation of the chemical shed, next to the carpark, to allow for additional electric buggy storage;

– New safety signage and a soon to be new safety net for the practice fairway;

– Completion of the indoor teaching facilities in association with the Club Professional; and

– Establishment of the Kew Golf Club Foundation.

Interest in membership for The Kew Golf Club has been very strong during the year, which is against the general trend of decline in membership for private golf clubs. Kew has been able to increase our membership during the year and as a consequence we have now structured our intakes of members to biannually, which enables better control of the waiting list. As the condition of our golf course continues to improve, and the standard of our facilities becomes wider known, I am confident that demand for membership at our Club will remain healthy.

Club PersonnelThe success of any golf club relies heavily on the quality of its employees and its Pro Shop team. I believe we are very fortunate to have our current complement of Club personnel on whose, largely unseen, services and expertise we all rely upon.

I have enjoyed working with and thank all these people for their efforts.

Our CEO, Mathew Loughnane, has provided excellent leadership, guidance and day-to-day management of the Club’s business. He has worked well with the Board and his administration team has also made an impressive contribution.

Vijay Kumar, our Assistant Manager, has worked well with our Treasurer, Clark Davey, in controlling our finances and his work on our cost structure has been invaluable. Yvonne Koster, often first contact for new members and others, has continued her work in a friendly and efficient manner. Nick Ludington, who has now been with us for twelve months, has provided great support to the CEO, the Match Committee and our golf operations generally.

Our hospitality team continues their excellent service to our members and guests. Alisha Ayers continues to excel as Function Manager and is ably assisted by Adam Harris, our Bar Manager, and the bar staff. Our new Chef, Andrew Bedford, has settled in well, receiving excellent reviews for his food and varied menu. I thank all the kitchen staff, particularly Tommy Livingstone, who again stepped in as Head Chef before we recruited Andrew. Tommy has provided, and continues to provide, excellent service and support to the kitchen operations.

Our Course Staff have had, as you are all aware, an extremely busy and productive year. Cameron Hall, our Course Superintendent, and his assistant, Tim Madder, and their staff continue to provide the members with the best playing conditions possible with incredibly hard work and dedication.

Our Golf Club Professional, Simon Angliss, and his staff of Michael Light, Tom Burt and Narelle Anderson together with teaching professional Brian Gardiner continue to provide us with an excellent, expert and friendly service. They make an invaluable contribution to the overall enjoyment of Club membership and I very much appreciate their efforts.

CommitteesAll the Committees have worked effectively and provided valuable service to the Club.

Although they will have reported separately in this Annual Report I take this opportunity to thank all Committee members, particularly those from the general body of members, for their contribution to the wellbeing of the Club.

I would also like to thank and pay tribute to the Women’s Committee, especially Women’s Captain Genista Whittaker, Women’s Past President Melissa Wilde and the new Women’s President Anne English for all the work they have done for women’s golf at our Club. I appreciate their cooperation and understanding in working with the Board.

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The BoardI am leaving the Board after seven years, with the last three as Captain. I have been very fortunate to have had a committed, harmonious and hard-working Board during my term as Captain.

Although there has often been vigorous debate, and conflicting ideas, we have always worked well as a team. We now have an established corporate framework for the conduct of the Club’s business. I cannot thank all Board members enough for their support, cooperation and efforts over my term as Captain.

After John Isaac and Roly Williams retired from the Board last year we were very fortunate to have Peter Myers and Vince Piccolo elected to the Board. They have both been very supportive of the Board’s direction and are making an excellent contribution to the governance of the Club.

This year we have two retiring Board Members in Michael Pickering and Barbara Aylen. Michael Pickering is leaving the Board after 8 years with the last twelve months as President.

Michael and I have worked very closely over our time on the Board and he has been an integral part of the Course Committee. As a Club member for 52 years, his knowledge of the course and its history has been invaluable and I have very much appreciated his support and good counsel. Michael has also been instrumental in updating both the course ‘set up’ policy and as Chairman of the Governance Committee he an integral part in the Strategic Plan update this past year.

Thank you Michael for your time and effort over the past eight years on the Board, it is very much appreciated by all members

Barbara Aylen has decided to retire from the Board after three years. She has been a very committed Board member and provided fantastic support to me and the rest of the Board. As Chair of the Membership Committee, she and her Committee have been responsible for the new fee structure for young members.

A special thanks to Barbara for the display of major events that she updates regularly in the little cabinet on the path leading to the 4th tee

As Captain it is very important to have a close working relationship and support from one’s Vice Captain. Andrea Moore has been extremely hard working and willing to do whatever is required for the benefit of our great Club. She has been a wonderful support to me and an excellent Vice Captain.

Clark Davey, our Treasurer, provides great work and insight for the benefit of the Club. He has been a good friend and sounding board over the last three years and I will miss our regular chats regarding finances and Club issues.

Steve Valentine has been a very enthusiastic Board member and is responsible for the successful Golf Premier League Competition. He and Barbara Aylen have initiated the program for tidying up the billabong surrounds and more clearly defining hazard boundaries.

As I leave as Captain and finish my time on the Board I look back with some pride at the Club’s achievements over the last three years. It has been a pleasure and a privilege to have worked with people who have had the commitment and foresight to improve our Club to where it is today.

I believe The Kew Golf Club has a bright future with further exciting times ahead.

Finance Clark Davey

OperationsFor the year ended 28 February 2017 the Club has recorded a total net profit of $686,394 which is higher than our budget of $674,000. This result was achieved inclusive of the receipt of $312,091 in entrance fees, which was again an over budget number. The result is good and we remain financially strong.

Notwithstanding, we continued to face challenges in our catering and golf operations areas:

- Catering has been problematic over the last couple of years and we have worked hard to understand the performance issues we face. You will recall that in this report last year I commented on the need for better purchasing and labour ratios to drive performance. In short, both of these areas remained challenging this year with our total catering performance ending up $13,000 under budget. However, the replacement of our Head Chef in September 2016 has seen an improving financial result thereafter and we have carefully budgeted for 2017/18 on the strength of this trend.

- Golf Operations remain a focus as we are still spending more on competition expenses/prizes, than we raise in competition fees. For 2017/18 we have sought to rationalize our competition fees fairly across all classes of membership to alleviate this issue.

Replacing our AssetsDuring the 2016/17 year we continued to invest aggressively in our assets. This was the outcome of three separate decisions:

- Our normal capital budgeting process that saw a continued commitment to course improvement;

- A decision by the Board to accelerate the replacement of our ageing greens such that they are all replaced by May 2017; and

- The reality of our aging course irrigation system and the Board decision in July 2016 to commence its replacement. Stage one comprised of holes two through to seven plus new irrigation in all of the replaced greens. We have incurred a cost to date of $341,882. Members should be aware that the total budgeted cost of the new irrigation system is $900,000 with a timetable to have the installation completed by August 2017.

Total capital expenditure for the year was $1,168,654 with a breakdown as follows:

- Greens replacement $462,666.

- Course irrigation $341,882.

- Other course improvements and course equipment $93,020.

- Dining room refurbishment, which included carpet, painting and pillar removal $176,915.

- Other Club capital expenditure (e.g. office and kitchen) $94,177.



Summary PerspectiveWe remain financially strong and the Board is of the view that our decisions to invest aggressively in course and clubhouse improvements, and the careful purchasing for and management of these projects, have contributed strongly to both our current financial position and the degree of interest the Club is receiving from prospective members. Not to mention the enviable state of our course and clubhouse. As at 28 February 2017 we had “savings” of approximately $1,600,000.

A subscription fee increase of 3.5% for the 2017/18 financial year has been approved by the Board. In part, this lower than recent year increases, recognises that we have broken the back of our major course improvement and clubhouse redevelopment plans. Although, much remains to be done.

I conclude a four year term as your Treasurer on 30 May 2017 and would like to comment on a couple of achievements that have occurred:

- Over the past 7 years we have invested over $7,000,000 in major course and clubhouse improvements and are budgeting to add another $1,000,000 to this figure in 2017/18. All of this has been achieved from cash flow, without debt or a member levy. The results of this work are tangible.

- We have reduced the cost of running our Club by a material amount without sacrifice to member services.

We must continue to adopt an aggressive, but prudent, approach to asset improvement in the future.

Annual Subscriptions 2017/18The annual subscriptions for the 2017/2018 club year as determined by the Board are as follows:

Category2016/17

$2017/18

$Increase

$

Life Nil Nil -

Veteran (pre June 2011) Nil Nil -

Veteran (post June 2011) 1,418 1,467 49

Veteran Non Playing 212 219 7

Full 2,838 2,937 99

Senior Full 1,844 1,908 64

Intermediate 2,412 2,496 84

Senior Intermediate 1,561 1,615 54

Junior 568 587 19

Full: Young Adult (18 to 24)

1,136

1,175

39


1,419

1,468

49


1,703

1,762

59

Intermediate: Young Adult (18 to 24)

966

999

33


1,207

1,249

42


1,447

1,497

50

Cadet 111 114 3

Weekday 1,986 2,055 69

Country Interstate 850 879 29

Absentee 424 438 14

Social 424 438 14

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Course John DoggettThe course reconstruction is nearing its’ completion after six years of work improving the quality of the course. The following is a brief outline of what has been achieved during this period.

• 19 greens have been reconstructed, following the USGA method, and now have bent grass surfaces.

• Fairways have been transferred from a range of cool-season grasses to a consistent Santa Ana surface

• Fairways have all been drained, including undulations, which have assisted with water movement and enables surfaces to hold up through all types of weather.

• Bunkers have all been renovated and drainage installed.

• All but four tees have been rebuilt, moving away from cool season grasses to Santa Ana.

• A Vegetation Management Plan has been progressively implemented.

• The majority of a new irrigation system has been installed with the balance to be completed by August 2017

Last year the Board requested the Superintendent to write a report on the condition of the greens and a time frame for the remainder of the greens to be reconstructed.

After consultation with the Superintendent, and Course Designer (Graeme Grant), the Board made a decision to renovate the remaining greens over a one year period rather than three per year over three years.

It is pleasing to advise that all the greens will be constructed by the end of May 2017.

Climatic ConditionsAs members would have experienced last winter, the course playing conditions were excellent despite the amount of rain (245mm) received during the months of June to September. The condition of the course, through the wetter months, showed the benefit of the design changes, and drainage, implemented by Graeme Grant.

IrrigationDuring the Summer months we experienced some long dry spells of weather but were fortunate to have good water storage levels that enabled us to maintain our course in great condition.

The new irrigation system is due to be completed by late August 2017 with work to re-commence in May this year. The holes already completed are 2/3/4/5/6/7/11/18.

The greens and surrounds of all the new holes, being 9/10/13/17, have had the irrigation installed whilst being built.

Vegetation Management PlanAs per our permit from the Boroondara Council, the second stage of tree removal and pruning will be completed by the end of the upcoming year, with the replanting of trees to be in accordance with the Vegetation Management Plan (VMP).

As part of the VMP there will be twenty trees planted down the left hand side of the 10th fairway, which will give better protection, and separation, from the practice fairway.

The pine trees at the end of the practice fairway, behind the 11th green, will also be removed as per the VMP. The removal of these trees has highlighted a safety concern for the Club in regards to practice balls being hit onto the 11th green and surrounds.

Due to this safety concern the Club will be installing a 55 meter wide and an 18 meter high safety net at the end of the practice range. This safety net will stop balls from being hit onto the 11th green and surrounds and, depending on the permit from Council, is scheduled to be completed mid-year.

GardensThe Board is in the process of formulating a concept design, and quotes, for possible renovations of all gardens in the main carpark and the clubhouse surrounds.

The Board is also looking to resurface the lower/overflow car park to create more parking by removing the grass area next to the practice nets. This area will also be line marked and have designated car parking spaces which will improve capacity.

Course StaffOn behalf of the Board I would like to thank our Course Superintendent, Cameron Hall, and his staff for their enthusiasm, commitment and work ethic over the past 12 months. They have maintained our course in the best possible playing conditions during these works.

The Board would also like to acknowledge the Superintendent, and his staff, for the way they have embraced the challenge of the greens renovations and their effort in getting them back in play in the shortest possible time frame.

I would like to take this opportunity to thank the Board and the Chief Executive Officer for their support and cooperation over the past three years. The course renovations have taken up a substantial amount of time with course walks and discussions with the Superintendent and Course Architect and their efforts are appreciated.

It has been a pleasure to have been Course Chairman during the renovations of our course and I cannot thank Michael Pickering, Andrea Moore and Steve Valentine enough for their support and commitment over the last three years on the Course Committee.

As members, we can all look forward to our course maturing over the next few years to a standard in conditioning that is equal to any other course.

I would also like to finish by thanking the Members for their patience and understanding during this period of works on the course.



House and Social Vince PiccoloAnother eventful year with our social, dining and functions program.

It’s of tremendous satisfaction that our recent members survey conducted by GBAS (Golf Business Advisory Services), established that our food, beverage, clubhouse service and clubhouse surrounds were all well above GBAS benchmarks over many other private golf clubs.

The employment of Andrew Bedford, our Head Chef, in late September 2016 has added another dimension to our dining experience. Also special mention and thanks to Tommy Livingston and the entire kitchen staff for their continuing dedication and support, particularly when we were without a Chef for a few months.

Thank you also to our Functions Manager, Alisha Ayers, for her outstanding work and organisational skills, and to our Bar Manager, Adam Harris, and the front of house staff for their excellent level of service and attention to member’s needs.

To our CEO, Mathew Loughnane, thank you for your tremendous support and guidance through my first year on the Board and particularly as House and Social Chairman, I really appreciate your help.

To Vijay Kumar (Assistant Manager), Yvonne Koster (Membership Co-ordinator) and Nick Ludington (Manager of Golf) thank you for your excellent work throughout the year.

There were a number of special events throughout the year that were a great success, these being:

– The Rubber Soul (Beatles tribute band)

– SOS (Abba tribute band)

– AFL Finals Luncheon with guest speaker Kevin Sheedy

– Men’s Presentation Night with guest speaker Jacki Cooper

– Kids Christmas party with over 350 kids, parents and grandparents attending.

– Winemakers Dinner

– Melbourne Cup golf/lunch

– GPL Presentation Dinner

– Ladies Charity Card Day

– And many more.

Our private and member’s functions, in addition to our Corporate Golf Days, continue to perform well with very positive feedback on our delicious food, dining room presentation, excellent levels of service and friendliness.

This is of tremendous benefit to our Club, not only financially, but also encouraging potential new members to join.

You may be interested to know that May 2016 and March 2017 the Club has held 182 private functions and Club events. These events have invariably featured entertainment, fine dining and excellent service.

These events have included 13,494 people, which have generated tremendous interest in using our clubhouse facilities for future functions.

Our Nine and Dine competition has reached new levels of participation with our members, guests and diners. Our theme nights with music and wine tasting were an outstanding success. This event was run over a period of several months with 838 participants, culminating in the Beale cup won this year by the Women members.

The introduction of our social calendar pamphlet is a helpful tool in communicating forthcoming events to our members. I appeal to all our members who haven’t attended any social functions recently; you will have a great time and help the Club financially. I also encourage members to participate in our golf mixed day events, as the social interaction from these events create a wonderful friendly atmosphere at our Club.

My sincere thank you to all Members who contributed toys and vouchers to our first Christmas Giving Tree. The recipient was CamCare, who is a not for profit organisation caring for needy families in the Boroondara area. The Christmas Giving Tree will now become an annual event with a nominated Charity.

Thank you to Kris Hosking for her continued excellent work with the bridge group and bridge nights, with bridge continuing to grow in popularity at our Club.

Throughout the year, we have continued to upgrade our clubhouse internal décor. The removal of the pillar in the Wischer room and main dining room will now enable us to extend our table capacity. The installation of the sound proof operable wall in these rooms will also allow the Club to cater for different functions at the same time.

We have also improved our Media, Overhead Projector and PA systems in the clubhouse and added Foxtel for our enjoyment.

We have completed the northern terrace and the men’s locker room, toilets and shower facilities, also the refurbishment of the clubhouse dining and Wischer rooms with cosmetic work including painting and carpet.

Clubhouse surrounds have been transformed with our elegant front entrance and perimeter fencing. Gardens in this area have now grown considerably providing a lovely visual aspect to our clubhouse.

The additional safety signage in the carpark, security front entrance camera and security gates leading to the pro-shop have all been installed.

With the imminent major course construction coming to an end this year, we now turn our attention to our clubhouse gardens and carpark. We will be formulating a compressive plan to develop these areas in 2017/18, in addition the planning and development of the northern overflow car parking with security gate and bitumen surface.

In conclusion, there are a number of exciting social events planned for 2017/18. I hope to see a lot more members attending these events, included in this will be our Course Completion Party, details of this will be announced later this year, and details of our Simply the Best, Tina Turner Tribute Show in July.

My special thanks to our House and Social committee members for their excellent contribution this year, Melissa Wilde (former Women’s president), Anne English (Women’s president), John Doggett (Captain), Andrea Moore (vice-captain), Kris Hosking, Joe Bonin, Alisha Ayres (Functions Manager), Andrew Bedford (Head Chef) and Mathew Loughnane (CEO).

Special mention to our other Board Members who attended our House and Social meetings as well.

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Governance and Strategic Planning Michael PickeringThe main item on the Committee’s agenda in the reporting year was the review and updating of the Club’s Strategic Plan. It is pleasing to report that many items in the 2015/2016 Plan were completed. When the revised Plan was provided to members in December 2016 the covering letter provided a list of completed items. The new Plan has been extended until 2021 and builds on past achievements as we pursue our goal of improving the Club’s assets and making The Kew Golf Club the Club of choice in our member catchment area.

The Plan sets out the Board’s vision for the future and the steps that need to be taken to achieve that vision. The Plan is a dynamic document and members are encouraged to comment and contribute.

During the year the Club’s heat policy was reviewed and updated. Events of the recent summer made it clear as to how important this issue is, for particularly older golfers, with a number of members suffering the adverse effects of heat. In April 2016 the New Director Induction Programme was implemented. The Committee is also working to develop a wind policy as it is important that on a heavily treed course, golf is always played in safe conditions.

During the year the Committee reviewed the charters of all Board Committee’s to endure that they were up to date and formed a strong part of the Club’s governance framework. Currently, the Committee is working on the development of criteria and procedures to be followed for the naming of Club honour boards, perpetual trophy events and memorial items. The Committee is also examining the impacts for the Club of the Golf Australia and Golf Victoria sponsored “Golf Equal Opportunity Policy”.

I would like to thank Committee members Clark Davey, Peter Myers and seconded members Genista Members and Jo Wormald for their constructive contribution to the Committee’s work.

Match Andrea MooreMembers spent the 2016/17 year playing a variety of temporary courses as a result of the Board’s decision early in the year to rebuild the remaining older greens as quickly as possible and replace our aged irrigation system. With the use of the practice chipping green as a 19th hole, temporary greens dropped into fairways and split holes we were able to offer 18 holes at all times. Each time we close or open a hole or change the course we have to obtain a temporary course rating for all tees from Golf Victoria. As the first stage of the irrigation works moved from hole to hole the course changed weekly.

Particular thanks must go to Simon Angliss and his staff in the Golf Shop. They have had a very difficult job ensuring that golf competitions ran smoothly around the course works. The temporary course rating was sometimes returned by Golf Victoria just before the next course was due to open. Competitions had to be set up, cards altered and local rules implemented where necessary at the last minute. Golfers also needed to be kept informed of the order of play and shot distribution for matches.

Regular competitions, both weekly and annual, continued on around the course works in 2016/17 and were well supported. High course usage continued with a total of 38,333 competition rounds and 16,433 timesheet social rounds for the year. Our busiest member, on the golf course at least, played 209 competition rounds and 19 social rounds. In February, 2017 a men’s timesheet was introduced on Thursday mornings to provide equality of access to the course for all six and seven day members. We now offer playing opportunities for both men and women on every day bar Tuesday (Women’s Competition Day) and Wednesday (Men’s Competition Day).

Revised hole indexes based on data from stroke events off the blue and red tees and a separate match play index have now been in place for twelve months. When we have enough fresh data after play resumes on the full course we will review the hole indexes and consider whether any changes are necessary.

A newly created staff position, Manager of Golf and Communication, was taken up by Nick Ludington in March, 2016. The role includes responsibility for overseeing golf competitions at the club, managing club and visitor events, junior development and club representative teams. This has centralised the management of golf events and has proven to be a valuable support for the Match Committee and other volunteers running events such as pennant.

After the 2016 Golf Victoria Pennant season we sought feedback from members on how we manage pennant. A Pennant policy has since been introduced into the Club By Laws covering the selection process, player responsibilities and uniforms amongst other things.

Competition prizes are covered by the annual competition fee paid with member subscriptions. This year we undertook a detailed review of prizes awarded against the competition fee pool and adjusted prizes accordingly. We will continue to monitor and adjust prizes where necessary into the future.



A rules education night conducted by Golf Victoria in July was well attended and informative. A lot of questions and discussion focused on water hazards. Subsequently, after seeking advice from Golf Victoria, the water hazard boundaries were moved further out on the sixth, seventh and twelfth holes. This was done to assist golfers identify where their ball entered the hazard and reduce confusion about where to drop taking relief. The R & A have since announced more than 50 proposed golf rule changes to speed up play and simplify the game. These changes will not come into effect until January, 2019, and of course golfers must play by the existing rules up until then.

Congratulations to all who won golf events this year. I’m sure all members are looking forward to playing on the full course in spring 2017 after the course improvement and irrigation replacement works are completed.

Thank you to the Match Committee – Barbara Aylen, Peter Myers, Ben Reynolds, Steve Valentine, Genista Whittaker (Women’s Captain) for their work throughout the year. Many thanks also to the members who have given up their time to assist with golf events at Kew, representative teams and junior development.

Men’s Golf Stephen ValentinePennantOur Men’s Pennant Team competed in Division 3 in 2016. The line-up was substantially different to last season with five of our 2015 squad unavailable for the 2016 season. So into the 2016 squad came Rowan Dick, Rob Prosser, Steve Valentine, Jeffrey Deng, Daisuke Nakajima, Chris Reily and new member Ryan Smits to join up with regular team members Mark Brasher, Mark Davis and Stewart Raitt.

The turnover of personnel in the squad put us behind the eight-ball and the first match against Rossdale was a loss 5/2 which set us on our heels somewhat. However, the camaraderie within the group was very strong and the team bounced back to win the next four matches. In fact, with one round to go we were in place to steal a position in the top two. However, this was not to be when we lost our last match.

The 2016 season was always going to be one of surviving and rebuilding. In this regard we had a successful year. We retained our place in Division 3 and we introduced pennant play to a cohort of new players. Mark Davis was our most successful player in 2016 winning six of his seven matches. The Team and the Club extends thanks to Keith Knox, the Men’s Pennant manager, and to the Club members who followed us, for their support at the various venues.

There was some quiet expectation for the success of our Colts squad in 2016 with the rapid improvement of the players over the winter. The 2016 Team included Adam MacIsaac as Captain, Callum Spear, Darcy Kiernan, Rylee Allen and Xavier Goring as well as cameo spots from Jeffrey Deng and Jasper Guthrie. The team combined very well to win two and draw two and finish mid-table, retaining their position in Division 4. Callum and Darcy won three matches each to be our better performing players. All these young players are improving and we anticipate that the team will be even stronger in 2017.

The Senior Pennant Team (over 55 years) had another stellar season and managed to win the Yarra Courses Senior Pennant for a third year in a row. The format of the season was modified this time around with nine matches per contest instead of ten. Also, we welcomed another club into the YCSP season, being Chirnside Park, whose home course is Gardiner’s Run. This increased the number of rounds from seven to nine and included a bye.

The ‘three-peat’ squad included Graeme Alford, John Hannebery, Peter Barton, John Doggett, Shane Favaloro, Vyn Tozer, George Kotaridis, Rowan McClean, Geir Brekke, Brian Fuge, Kevin Feltis, Paul Williams, Ross Henshaw, Andrew Whittaker, Michael Pickering, Peter Sherwen, Chris Warne, Peter Gebert, Pancho De Neefe, Steve Valentine and Mark Brasher. The team was ably managed by Jim Pitt. The Team won six matches, drew one and lost one through the season to make the final. The final was played against Heritage at Yering Meadows and went right down to the wire, with Kew prevailing 5.5 to 4.5. Standout players Pancho De Neefe and Steve Valentine were undefeated in their seven matches each for the season.

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The Senior Pennant Team enjoyed strong support from the sidelines all season with many Kew members at the venues following the matches. Thanks to all who caddied and to those who came along to watch and cheer the team along.

Golf Premier League The second season of GPL saw significant growth in interest from the first with the number of teams increasing from eight to 14. The Final Series was arranged in the style of AFL. This season, in addition to the Team Championship there was a Team Survivor Competition whereby the lowest scoring team of each round is eliminated and the last team standing wins the trophy. A Plate Event was also arranged on Grand Final day for the teams that did not play in the final series. At the end of it all it was The Rat Pack, captained by Graeme Craig, who dominated the competition, winning both the Team Championship and the Survivor competition. The Gunners, captained by Chris Moot, won the Plate. The MVP of the Season was Peter Lutton from the Fokkers.

Boroondara CupThe Boroondara Cup is a prestigious Amateur Championship on the Ivo Whitton Circuit and attracts many of the elite amateur players in Victoria and Interstate. Greenacres and Kew host the event. This year the event was reduced from 72 holes to 36 holes and was played at Greenacres. The winner was Kyle Michel from Sheparton, who shot 8 under to win by 5 strokes. Kyle is a multiple winner on the Ivo Whitton circuit and a past Season Champion. He joins the list of outstanding golfers who have won this trophy before as amateurs, including Leighton Lyle, Stuart Appleby and Jin Jeong. Next year the event will be held at Kew and alternating with Greenacres from then on.

Major Men’s Winners:Club Championship 2016 Simon Treeby

Matchplay Champion 2016 Mark Brasher

Foursomes Champions 2016Brendan Moore and Shane Favaloro

Seniors Champion 2016 Shane Favaloro

Junior Champion 2016 Daisuke Nakajima

B Grade Champion 2016 Peter Balharrie

C Grade Champion 2016 Roger Palazzo

Garrard Skertchley Memorial Trophy 2016 Ernie Chin

A.H. Neale Perpetual Trophy 2016 Stephen Valentine and Keith Knox

Hector McDonald Trophy 2016 John Cerini and Peter Sherwen

F.W. Thompson Memorial Cup 2016 Will Lauria

Paul Wischer Shield 2016 Patrick Tuohey

E.E. Simpson Cup for Ex-servicemen 2016

Allan Knights

Nett Average Stroke 2016/2017 Michael Gilderdale

I.F. Tindley Summer Cup 2016/2017 Terry Arundell

A.F. Hiskens Memorial Cup 2016 Tim Coulston

Captain’s Trophy 2016 Roger Palazzo

Frank Dennis Triple Classic 2016 Peter Kerr

Ian Rennick Four Ball Knockout 2016 Bruce Falconer and Barry McOrist

Major Mixed Event Winners Neil Davey Mixed Foursomes Champions 2016

Shane Favaloro and Bev Murray

J.R. Atkinson Memorial Trophy 2016 Genista Whittaker and Andrew Whittaker

C.W. Crompton Trophy 2016 Michael Taylor

Beale Cup 2016 Women defeated the Men

Meg Evans Plate 2016 Shane Favaloro and Bev Murray

Foundation Cup 2016 Men Women

Graeme Ballard Dorothy Chard

Tom Morley Junior Golfer of the Year 2016

Linley Ooi



Women’s Golf Genista WhittakerAlongside our normal week day competitions, the 2016 -17 Women’s Committee was instrumental in organising a total of 42 events over the year, comprising:

• 23 main events, including our Championships and all Board Events

• 9 teams events

• 5 Golf Victoria events

• 5 other general events.

In addition we organised 8 women’s lunches, a Charity Card Day and a New Member’s morning tea.

As a result of all this activity, the Women’s Committee has had another extraordinarily busy year. We are particularly proud of the large number of women members who have represented Kew in various teams throughout the year and who were specifically named in the Women’s 2016 Annual Report.

PennantThe pennant season started on Friday 18th March, and so did the rain. The Friday Pennant Team played consistently throughout the season and ended up a solid third in Section Two, where it will remain in 2017. The team was captained by Janet Jacobsen and managed by Genista Whittaker.

The Sunday Pennant team had a very tough season in Section One, often playing against opposing team members a fraction of the age of our team members.

It was wonderful to have 15 year old Linley Ooi playing at No.1 in the team most weeks, and a special mention must go to Ann Manuell for winning five out of the seven matches she played. Libby Day was captain and the team manager was Heather Moot.

My thanks to the pennant selection committee of Jane Lock, Sally Syme and Hilary Hodgetts, also to all the caddies who willingly gave up their time throughout the season.

Club ChampionshipsThe Women’s Championships started in May, accompanied by torrential rain. The first round of the Championships was postponed after several attempts were made to soldier on in very soggy conditions.

As a result of the weather, the Bronze and C Grade Championships were truncated into one qualifying round followed by the finals.

The Club Championships field managed to play its two qualifying rounds and concertinaed the finals rounds into the two remaining days.

The Course Superintendent, Cameron Hall, and his staff did a great job of preparing different courses to accommodate the Quarter and Semi Finals which were played on the same day. Fortunately the sun came out for the Grand Finals and encouraged a lot of members and management staff to come out and watch the very exciting matches which all went to the 18th hole or beyond.

Linley Ooi prevailed over Joana Donelly to be named the Club Champion, while Jane Blyth won the Bronze Scratch Event and Anne English was the C Grade Champion.

The lunch following the Championships continues to be a highlight of our year at Kew, not only celebrating our new champions but also recognising a parade of past champions. Amongst this year’s past champions, I would like to acknowledge in particular Dorothy Sellers (Women’s Captain in 1982, 83 and 85) who won five Club Championships between 1978 and 1984 and also won the Victorian Veterans’ Championships in 1984. Dorothy sadly passed away on the 18th of September 2016. I know that many of you fondly remember Dorothy as a mentor and keen follower of Pennant and the Championships.

Midweek MatchplayLeonie Silk continued to assemble her successful teams of Midweek Matchplay players throughout May and June. Our team was undefeated and I was very proud to be amongst the women to be presented with the annual Midweek Matchplay Trophy at Green Acres.

KHYRSP CupMoving into July, Di Grail coordinated the weekly KHYRSP Cup players. The KHYRSP Cup competition has grown from the original six Clubs to now comprise fourteen, mostly Sandbelt Clubs, and is a matchplay off scratch competition. This competition caters for players who choose not to play pennant or whose handicap is just outside the pennant range. Kew ended up a creditable 3rd on the ladder, winning four out of six matches.

Golf Premier LeagueRolling along from March to July was the Golf Premier League. In 2015 we had six teams, and in 2016 we more than doubled that number to have a total of thirteen teams of eight members. The matches ran concurrently with the Tuesday competition of the day. The league was won by team Hit and Miss who narrowly beat The Swingers by one point in the final.

Leonie Silk coordinated the Women’s League alongside Steve Valentine, and was ably assisted by Jenny Mooney and Jan Freestone. I would particularly like to thank Leonie, Jenny and Jan for all the work they did during the season and for co-hosting the very successful and entertaining GPL end of season dinner.

InterclubAs one event ended, another started. The much anticipated Yarra River Interclub Season began in August, and the team’s preparation was helped by clinics run by Simon Angliss and Libby Day. Hilary Hodgetts managed the team and their caddies superbly and ensured that nothing was left to chance, not even the score line!

Kew had convincing wins against Rosanna, Box Hill and Green Acres and a nail-biting draw against LaTrobe, which placed Kew on top of the ladder leading into the final.

The final played at Box Hill was very exciting, with numerous spectators from Kew turning out to support the team. It was by no means a fait accompli, with Kew needing to defeat Heidelberg (which we did) and La Trobe needing to lose to Box Hill (which they did).

The result was a fantastic 4th Interclub win in consecutive seasons for Kew, achieved by a group of players who were cohesive, enthusiastic and particularly eager to learn from all around them.

11

Green AcresEvery year we arrange a couple of events with our neighbours Green Acres, with whom we have great camaraderie and a friendly rivalry. The annual Kew Green Acres Challenge Cup was held at Green Acres. A team of 14 women with handicaps ranging from 0 to 36, were chosen to play 4BBB stableford matchplay, whilst the Committee members from both Clubs also play a friendly 9 holes together.

Kew won the day and we were treated to a magnificent lunch hosted by the Green Acres Women’s President Sue Leong and Women’s Captain Annalie de Villiers.

Captain’s, President’s and Professional’s DaysAs the day’s lengthened and grey skies cleared to blue, we put on some light-hearted events to celebrate. Captain’s Day was a fun Pink Ball event. Peter Silk very generously supplied the most beautiful boxes of fruit including Pink Lady Apples to help make the day more special.

Simon Angliss got a superb day for Professional’s Day, and he and his staff went all out to set up a tricky, amusing, quirky and challenging course, whilst spoiling the women with champagne and chocolates.

Finally, the Captain’s versus President’s Day saw Kew fairways transformed by marauding African wildlife and colourful exotic birds interspersed by wannabe Denys Finch Hattons. This was followed by a lively lunch and the announcement that the Captain’s Team had won the day.

Club BowlsThroughout the year, Hilary Hodgetts worked behind the scenes co-ordinating over 60 women to represent Kew at 26 Bowls, mostly in the metropolitan area and a few in country Victoria. It seemed that the further we travelled from home, the higher the chances of winning, and we won the bowls of Gisborne, Sorrento and Anglesea as well as Rosanna.

AcknowledgementsFinally I come to thanking the Committee. It would be very difficult to run women’s golf at Kew without the support and energy of the whole team.

Helen Elliot has been the engine room and has expertly performed the task of Secretary alongside her love of photography, capturing and displaying all the memorable events and results.

Anne English, as Vice President, carefully walked in Melissa’s shadow for the year learning the ropes and supporting the social side of the club.

Thank you to Hilary and Leonie for all their support with the golf events, particularly Interclub, the Bowls, Midweek Matchplay and the GPL.

In December the Committee farewelled Trish Pitt, Dianne Grail and Melissa Wilde.

Trish served on the committee for three years, and did an outstanding job of welcoming and nurturing 25 new women members during 2016.

Di GraiI also served three years on the committee and her time was characterised by her energy, determination and oomph all wrapped up in her devotion to women’s golf and Kew Golf Club.

Melissa Wilde retired after serving four years on the Committee, the last two of which she was President. Melissa chose to support The Royal Talbot Hospital, specifically the Gardens and Grounds Project as her charity for 2016. Throughout the year she organised a variety of activities including the Charity Card Day, President’s Day, the sale of the Entertainment Book and the creation, publication and sale of the Kew Recipe Book. In total she raised $10,000, which was a fantastic effort, and she handed over a cheque to the Royal Talbot Hospital at the end of year Christmas luncheon.

I was delighted to welcome Robin de Clifford, Jenny Cropley and Robyn Weller to the Committee for 2017 and we look forward to continuing the work of the committee to ensure that both golf and social activities are a happy experience for all our members.

Thank you to all administration, catering and course staff, the pro shop and the Board for your support.

Major Women’s Event WinnersClub Champion Runner up Concurrent Nett Event

Linley Ooi Joana Donelly Jacqueline Baker

Bronze Scratch Event Runner up Concurrent Nett Event

Jane Blyth Helen Elliot Tori Curtis

C Grade Event Runner up Concurrent Nett Event

Anne English Rae Buchanan Anne English

McCutcheon Cup Winner Runner up

Margot Crilly Lois Wheelahan

Fairholme Cup Winner Runner up

Barbara Aylen Genista Whittaker

Grant Hay Cup Winner Runner up

Janet Ellis Miranda Cerini

Centennial Cup Anne Evans

Foursomes Champions Winner

Runner up

Dianne Grail and Anna Mason

Barbara Aylen and Bev Murray

Foursomes Nett Plate Winner

Runner up

Barbara Howlett and Lois Wheelahan

Andrea Moore and Prue Tozer

Fourball Knockout Winner

Runner up

Margot Crilly and Sally Kerr

Faye Bolton and Tricia Weickhardt

Medal of Medallist Anne Evans

WGV Silver Spoon Barbara Aylen

Hole in One Sue Winkler



Golf Development Andrea MooreAt the end of the 2016/17 year Kew had five cadets, 35 junior (10-17 year old) members and 43 young members (18-24).

Over the last two years the young member joining fee payment arrangements and annual subscriptions have been restructured at Kew in an attempt to attract and retain younger members. Our current numbers are very similar to those of two years ago and it will take some time to see whether the measures implemented result in junior numbers increasing.

Golf Development Manager, Nick Ludington, has been charged with managing our junior events and ensuring there is a pathway for juniors from beginner golfer at our Golf Shop run clinics through to member and hopefully for some, elite golfer.

The Huntington Cup was introduced in 2016, named in recognition of the contribution Ian and Marie Huntington made to our junior golf program for many years. Points are awarded for attendance and performance at monthly clinics, junior pennant and junior competitions with the top 12 advancing through to play offs. 22 juniors and cadets are competing for the 2016/17 Huntington Cup which will come to a conclusion in September 2017.

Kew entered two teams in the 2016 Golf Victoria Junior Pennant competition (mixed handicap matchplay). Rylee Allen, Lachie Ding, Mikel Eduard, Abel Eduard, Gus Falting, Jasper Guthrie, Anthony James, Baran Kaya, Andy Kim, Jack Knight, Charles Kueh, Peter Lathouras, Daisuke Nakajima, Christian Ngan, Linley Ooi, Yiling Ooi, Michele Recinella and Callum Spear represented us. Kew Cobras finished second in Region 3 and Kew Bears finished third in Region 4. Notable performances came from Yiling Ooi who was unbeaten with four wins and Peter Lathouras who won three out of four matches in his first Junior Pennant season.

The Kew Junior Open was held in January, 2017. Of the Kew members who competed, Linley Ooi won the Girl’s event (Gross), Peter Lathouras was the net winner in the Boy’s event and Austin Huntley was runner up. Jasper Guthrie was runner up in the Under 16 Boy’s section.

Linley Ooi had another outstanding year winning the Tom Morley Junior Golfer of the year award for the third time. Linley was selected as a member of both the Victorian Junior and Women’s teams. She also won the 2016 Murray River Junior Masters.

Other Kew members who recorded wins away from home were Rylee Allen (National Golf Club Junior Open), Charles Kueh (net events at Gardiners Run and the National) and Austin Huntley (net event at Box Hill).

Many thanks to Pancho and Una De Neefe who again managed both Junior Pennant teams, Ian Stewart who managed the Colts Pennant team and to the members and parents who caddied and assisted with junior events.

Membership Barbara AylenThis year the Club admitted 88 new members; 63 men and 25 women. The Club’s total playing membership at the end of February 2016 was 1287, compared with 1,306 last year and 1,392 two years ago and 1420 three years ago.

The Membership Committee remained focused on their primary task of attracting and retaining members to the club. This with a mindfulness of the capacity of the club and course to adequately cater for the existing members in terms of tee times, course condition and club house comfort etc.

The Membership Committee has established new member intakes twice a year (March and September) to better facilitate a measured approach to introduction of new members, and monitoring of player volumes.

A New Members Information Evening was held in December, and will continue annually as part of assisting new members to become comfortable at the club.

Much thought is being directed towards establishing an ‘optimal’ membership levels to sustain ongoing satisfaction and operational profitability.

Of note there has been a marked increase of 32 male members in the under 50 category, which more than offsets the loss (much of it inevitably due to ‘ageing’ challenges) of playing members over 50. The net increase in male playing members is 31. This is thought to be a direct result of the cost strategies directed at the new under 35 categories, with the tiered subscription cost levels of 2015 being augmented by a tiered joining fee costing implemented in January this year. Interestingly, the largest increase of 13 is in the 36-50 category. The Committee anecdotally ascertained this could well be largely due to ongoing and nearly completed course enhancements, and recent club house refurbishment.

The Female under 50 category is relatively unchanged, indicating that the new under 35 offerings have not yet appealed to females. Female members 51-60 have shown a substantial increase against previous trends, 14 since July 2016, which may be in part due the course/clubhouse improvements, and also the recent female membership drives, including latterly the ‘Give Golf a Go’ program initiated and overseen by our CEO Mathew Loughnane.

At the time of this report the picture is indicating a change in trend for The Kew Golf Club. There is a total playing membership gain of 1.9%, which is a significant change in long term trend. The Kew Golf Club has been trending at -1.8% since 2009. That downward trend was part of a golf industry wide problem.

Despite the general decline in numbers of people playing golf and the reducing level of private club memberships across the country our Club maintains one of the highest levels of playing memberships in Australia. This needs to be managed in the future to continue to balance the player numbers, entrance fees and subscriptions, at levels that can provide a top quality golfing environment.

The Committee would like to take this opportunity to again thank Yvonne Koster (Membership Coordinator) for her competency and enthusiasm in dealing with Membership enquiries and assistance to the body of members in general.

Thanks also to Rob Simonsen for his ongoing invaluable detailed work on benchmarking relative to the industry, and analysis of membership statistics.

13

Welcome to all our Clubs newest members, we are delighted to have you here at Kew Golf Club and are very keen to make your golfing experience a great one. We welcome any feedback.

Listed below are the details of membership levels over the past three years:

Category 2014/2015 2015/2016 2016/2017

Full (7 Day) 600 573 572

Intermediate (6 day) 578 555 552

Other 128 159 170

Playing 1,306 1,287 1,294

Social 293 291 288

Absentee 55 53 50

TOTAL 1,654 1,631 1,632

New Members 35 63 88

At March, 2017 numbers in the main membership categories were as follows:

Category Male Female Total

Life 6 1 7

Full 515 35 550

Intermediate 237 315 552

Junior (10-18 years) 33 2 35

Young Adult Full 72 6 78

Young Adult Intermediate 1 3 4

Corporate 14 - 14

Veteran 19 3 22

Country Interstate 17 10 27

Cadet 3 2 5Golfers 917 377 1,294Social 185 103 288

Member on Leave of Absence 43 7 50TOTAL 1,145 487 1,632

The Club reports with regret the death of the following members since last year’s annual report:

Mrs Patrica Allen, Mr Rod Besley, Mr Scotty MacLeish, Mrs Norma May, Mr Ian Reilly, Mrs Dorothy Sellers, Mr Newton Turner, Mr Allan Whittenbury, Mrs Doreen Williams and Mr Bryan Young

Fine members, sadly missed.

Committees were as follows:Finance: Clark Davey (Chair), John Doggett,

Michael Pickering, Andrea Moore, Mathew Loughnane (Chief Executive Officer), Vijay Kumar (Assistant Manager);

Course: John Doggett (Chair), Andrea Moore, Michael Pickering, Stephen Valentine, Genista Whittaker, Mathew Loughnane (Chief Executive Officer), Cameron Hall (Course Superintendent), Tim Madder (Assistant Superintendent), Nick Ludington (Manager of Golf and Communications) and Vijay Kumar (Assistant Manager);

Match: Andrea Moore (Chair), Barbara Aylen, Stephen Valentine, Peter Myers, Ben Reynolds, Genista Whittaker, Mathew Loughnane (Chief Executive Officer), Simon Angliss (Golf Professional), Nick Ludington (Manager of Golf and Communications);

Governance and Strategic Planning:

Michael Pickering (Chair), Clark Davey, Peter Myers, Jo Wormald, Genista Whittaker, Mathew Loughnane (Chief Executive Officer)

House and Social: Vince Piccolo (Chair), John Doggett, Andrea Moore, Melissa Wilde/Anne English (Women’s Presidents), Kris Hosking, Joe Bonin, Mathew Loughnane (Chief Executive Officer), Alisha Ayres (House Manager) and Andrew Bedford (Head Chef);

Membership: Barbara Aylen (Chair), Stephen Valentin, Vince Piccolo, Michael Barden, Rob Simonsen, Mathew Loughnane (Chief Executive Officer), Yvonne Koster (Membership Co-ordinator);

Women’s (2016): Genista Whittaker (Captain and Chair), Anne English (President), Hillary Hodgetts (Vice Captain), Helen Elliott (Hon. Secretary), Jennifer Cropley, Leonie Silk, Robin de Clifford, Robyn Weller and Nick Ludington (Manager of Golf and Communications)



a) Details of the Board of Directors in office at the date of this report are:

Member Occupation

B. A. Aylen Retired 8 3 3

C. A. N. Davey Director 36 4 4

J. L. Doggett Director 25 7 7

A. C. Moore Director 16 4 4

M. P. Pickering Retired 52 8 8

S. D. Valentine Scientist 5 3 3

P. L. Myers Retired 9 1 1

V. J. Piccolo Director 23 1 1

b) The Kew Golf Club is a Company that is incorporated and domiciled in Australia. The Registered Office of The Kew Golf Club is 120 Belford Road, Kew East, Victoria.

c) The principal continuing activity of the Club during the year was that of a Golf Club. During the year there was no significant change in the nature of this activity.

d) The Club employed 20 full time employees as at 28 February 2017 (2016: 21 full time employees). Total employees including casuals were 52 and 41 respectively.

e) The Club showed a net surplus of $686,394 (2016: $663,870)

f) The Club is a company limited by guarantee. During the year, no dividends were paid.

g) The Club traded satisfactorily during the financial year. There was no significant change in the state of affairs other than that referred to in the accounts or notes thereto.

h) There has been no matter or circumstance that has arisen since the end of the financial year that has significantly affected or may significantly affect the operations of the Club, the results of the operations or the state of affairs in financial years subsequent to this financial year.

i) The Board believes developments in the operation of the Club will be consistent with that of a private Golf Club in future financial years and that the expected results of those operations will be adequate to meet the funding requirements of the Club’s facilities.

j) Indemnification of Officers and Auditor: During the Club’s financial year the Club paid a premium in

respect of a contract insuring the Board members of the Club and officers against any liability incurred as such by a Board member or officer to the extent permitted by the Corporations Act 2001. The contract of insurance prohibits disclosure of the nature of the liability and the amount of the premium. The Club has not otherwise, during or since the financial year, indemnified or agreed to indemnify an officer or auditor of the Club or of any related body corporate against a liability incurred as such officer or auditor.

k) No person has applied for leave of Court to bring proceedings on behalf of the Club or intervene in any proceedings to which the Club is a party for the purpose of taking responsibility on behalf of the Club for all or any part of those proceedings.

The Club was not party to any such proceedings during the year.

m) Attendance at Board Meetings

Board Meetings: March 2016 – February 2017

Name of Director No. eligible to attend No. attended

Barbara A. Aylen 11 10

Clark A. N. Davey 11 9

John L. Doggett 11 11

John N. Isaac 2 2

Andrea C. Moore 11 10

Michael P. Pickering 11 9

Stephen D. Valentine 11 11

Roland G. Williams 2 2

Peter L. Myers 9 9

Vince J. Piccolo 9 9

The lead auditor’s independence declaration, as required under section 307C of the Corporations Act 2001, forms part of the Board report for the year ended 29 February 2017.

Signed in accordance with the resolution of the Board:

J. L. Doggett, Captain

M. P. Pickering,President

Dated at Kew this 26 Day of April 2017

STATUTORY REPORT

In accordance with a resolution of the Board and the provisions of the Corporations Act 2001, the Board’s report as follows:

Year

s of

Mem

bers

hip

Cont

inuo

us Y

ears

of

Serv

ice

on B

oard

Tota

l Yea

rs B

oard

Se

rvic

e

15

Note2017

$2016

$

SUMMARY OPERATING STATEMENTOperating Revenue:

Membership Subscription Income 2,991,918 2,906,724

Green Fees 179,091 182,214

Competition Fees 141,908 132,388

Bar & Catering Revenue 1,601,072 1,516,063

House Account forfeiture 32,468 29,762

Locker Fees 19,502 20,160

Storage and Cleaning 87,538 72,970

Other 33,267 37,884

TOTAL OPERATING REVENUE 5,086,764 4,898,165

Operating Expenses:

Bar & Catering Expenditure (1,454,404) (1,414,053)

Golf Operations Expenses (513,965) (436,238)

Course Expenses (1,123,334) (1,232,617)

House Expenses (399,333) (370,074)

Administration Expenses (544,284) (506,842)

Depreciation Expenses (770,142) (653,093)

TOTAL OPERATING EXPENSES (4,805,462) (4,612,917)

OPERATING SURPLUS/ (DEFICIT) 281,302 285,248

Non-operating Revenue:

Entrance Fees 312,091 283,505

Interest 84,262 95,181

Profit on Sale of Non-Current Assets 8,739 (64)

TOTAL NON-OPERATING REVENUE 405,092 378,622

NET SURPLUS BEFORE TAX 686,394 663,870

The Income Statement should be read in conjunction with the attached notes.

Financial ReportINCOME STATEMENT For the Year Ended 28 February 2017

17

Note2017

$ 2016

$

Current Assets

Short Term Investments 3 3,226,971 2,939,615

Cash and cash equivalents 175,819 108,981

Trade and other debtors 4 82,631 116,456

Inventories 5 78,362 96,332

Interest receivable 6,140 7,548

Other current assets 6 75,023 94,381

Total Current Assets 3,644,946 3,363,313

Non-Current Assets

Property, plant and equipment 7 11,375,890 10,992,365

Total Non-Current Assets 11,375,890 10,992,365

Total Assets 15,020,836 14,355,678

Current Liabilities

Trade and other payables 8 1,689,740 1,742,980

Provisions 9 218,425 152,768

Total Current Liabilities 1,908,165 1,895,748

Non-Current Liabilities

Provisions 10 31,992 65,645

Total Non-Current Liabilities 31,992 65,645

Total Liabilities 1,940,157 1,961,393

Net Assets 13,080,679 12,394,285

Members’ Funds

Retained profits 13,080,679 12,394,285

Total Members’ Funds 13,080,679 12,394,285

The Balance Sheet should be read in conjunction with the attached notes.

BALANCE SHEET As at 28 February 2017


The Kew Golf Club FINANCIAL REPORT 2016 - 2017

Note2017

$ 2016

$

Cash Flows from Operating ActivitiesReceipts from members and customers 5,432,680 5,174,575

Payments to suppliers and employees (4,019,228) (3,913,038)

Interest received 85,670 87,633

Net Cash provided by Operating Activities 14 1,499,122 1,349,170

Cash Flows from Investing ActivitiesPayment for property, plant and equipment & Write Offs (1,198,185) (2,271,688)

Proceeds from Disposal of Non-Current Assets 53,257 15,876

Proceeds from redemption / (Purchase) of Investments (287,356) 699,457

Net Cash used in Investing Activities (1,432,284) (1,556,355)

Cash Flows from Financing ActivitiesNet Increase / (Decrease) in cash held 66,838 (207,185)

Cash at the beginning of the year 108,981 316,166

Cash at the end of the year 175,819 108,981

Represented by:

Cash on hand 4,100 4,100

Cash at bank 171,719 104,881

TOTAL CASH 175,819 108,981

The Cash Flow Statement should be read in conjunction with the attached notes.

CASH FLOW STATEMENTFor the Year Ended 28 February 2017

19

STATEMENT OF CHANGES IN EQUITY For the Year Ended 28 February 2017

Note

Retained Earnings

$Total Equity

$

At 28 February 2014 11,272,485 11,272,485

Profit for the Year 457,930 457,930

At 28 February 2015 11,730,415 11,730,415


At 29 February 2016 12,394,285 12,394,855


At 28 February 2017 13,080,679 13,080,679

The Statement of Changes in Equity should be read in conjunction with the attached notes.



1. Statement of Significant Accounting Policiesa) Basis of Preparation

The financial report is a special-purpose financial report, which has been prepared in accordance with the requirements of the Corporations Act 2001 and Australian Accounting Standards Reduced Disclosure Requirements as appropriate for non-for-profit orientated entities. These financial statements do not comply with International Financial Reporting Standards as issued by the International Accounting Standards Board (‘IASB’).

The financial report has been prepared on the historical cost basis, and except where stated, do not take into account current valuations of non-current assets. Cost is based on the fair values of the considerations given in exchange for assets.

The financial report is presented in Australian Dollars. The financial report was authorised for issue on the date of signing the Board of Director’s declaration by the Board.

b) Property, Plant and EquipmentAll classes of Property, Plant and Equipment are measured at cost.

Depreciation:Depreciation is provided on a straight line basis on all Property, plant and equipment.

The following depreciation rates are in use:

Clubhouse 1% - 20% Course Buildings 4% - 10%Course Works Program 5%Furniture, Plant & Equipment 3% - 33%Plant & Machinery 3% - 33%Watering System 5%

c) Course Works ProgramThis Course Conversion Program is considered over and above the normal course maintenance program and the Board has determined that an appropriate portion be capitalised and subsequently depreciated at 5% per annum.

d) InventoriesStocks are valued at the lower of cost and net realisable value.

e) TaxationThe Club is exempt from taxation by virtue of section 50 – 45 of the Income Tax Assessment Act 1997.

f) Employee EntitlementsThe following liabilities arising in respect of employee entitlements are measured at their nominal amounts:

- wages and salaries and annual leave regardless as to whether they are expected to be settled within twelve months of balance date.

- other employee entitlements which are expected to be settled within twelve months of balance date.

Other employee entitlements are measured at the present value of the estimated future cash outflows in respect of services provided up to balance date.

g) InvestmentsAll investments are initially recognized at cost, being the fair value of the consideration given and including acquisition charges associated with the investment.

h) SuperannuationThe Club contributes to industry- related superannuation funds which are accumulation funds. Contributions are made by the Club in accordance with current legislation and award requirements and additional contributions can be made at the discretion of employees. Benefits are due and payable upon retirement, death or disablement in relation to the employee’s accumulation within the fund. Being an accumulation fund, there are no unfunded past service benefits.

i) Revenue RecognitionRevenue is recognised to the extent that it is probable that the economic benefit will flow to the company and the revenue can be reliably measured. The following specific recognition criteria must also be met before revenue is recognised.

(i) Sale of Goods: Control of goods has passed to the buyer.

(ii) Rendering of Services: Control of the right to be compensated for the services has been attained.

(iii) Entrance Fees: Income is recognised as fees are earned.

(iv) Membership Fees: Membership fees are brought to account on a monthly basis throughout the membership year.

(v) Interest Income: Interest income is recognised as accrued.

j) Insurance CoverageThe club holds adequate insurance coverage for its business operations and Members. There is an outstanding claim for which the insurance company has indicated that the club is adequately indemnified for.

NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTSFor the Year Ended 28 February 2017

21

2. Expenses and Losses/ (Gains)(i) Expenses Cost of Sales – Bar and Catering 539,861 513,308

Depreciation of Non-Current Assets

- Course Buildings & Improvements 262,892 257,777

- Clubhouse/ Renovations 281,460 213,825

- Furniture and Plant & Equipment 71,668 63,641

- Plant & Machinery 137,635 100,450

- Watering system 16,487 17,400

Total Depreciation of Non-Current Assets 770,142 653,093

(ii) Losses / (Gains) Net Loss / (Profit) on disposal of Property, plant & equipment (8,739) 64

3. Other Financial Assets Term Deposits 3,226,971 2,939,615

4. Trade and Other ReceivablesTrade Debtors (Members) - -

Less allowance for Doubtful Debts - -

- -

Other Debtors 82,631 116,456

82,631 116,456

(a) Allowance for Impairment Loss Trade Debtors are non-interest bearing and are generally on 30-60 day terms. An allowance for impairment loss is recognised when

there is objective evidence that an individual trade receivable is impaired. No receivables were considered to be impaired at 28 February 2017 or 29 February 2016.

5. InventoriesStores at cost:

Catering 10,690 22,250

Course 40,845 38,725

Bar 14,114 15,929

Other 12,713 19,427

78,362 96,331

6. Other Current AssetsPrepayments 36,006 41,078

Goods and Services Tax 39,017 53,303

75,023 94,381

2017 $

2016 $

Notes To and Forming Part of the Financial Statements continued...



7. Property, Plant and EquipmentLand and Course Improvements at cost 5,665,890 5,665,890

Less Accumulated Depreciation (1,486,483) (1,223,591)

4,179,407 4,442,299

Clubhouse Renovations and Other Works at cost 5,007,181 4,819,318


3,375,981 3,404,924

Clubhouse at cost 3,966,500 3,966,500


2,147,138 2,211,792

Clubhouse Furniture and Plant and Equipment at cost 1,770,199 1,748,862


311,089 343,036

Course Plant and Machinery at cost 1,728,910 1,647,282


379,060 428,582

Watering System at cost 864,118 864,118

Less Accumulated Depreciation (759,675) (743,188)

104,443 120,930

Capital Work in Progress – Course Projects 878,774 40,802

Total Property, Plant and Equipment 11,375,890 10,992,365

Based on an independent valuation made in January 2011 by PP&E Valuations Pty Ltd on the basis of market value for existing use, the value of land was $24,350,000 and that of Buildings was $4,615,000. The revaluation increment has not been brought to account in the Annual Report.

7a. Reconciliations of Property, Plant and Equipment - 2016/2017Reconciliations of the carrying amounts of property, plant and equipment at the beginning and end of the current financial year are as follows:

Opening Balance $

Additions $

Disposals $

Deprec. Expense $

Closing Balance $

Land and Course Improvements 4,442,299 - - 262,892 4,179,407

Clubhouse renovations 3,404,924 187,863 - 216,806 3,375,981

Clubhouse 2,211,792 - - 64,654 2,147,138

Furniture, Plant and Equipment 343,036 39,719 - 71,668 311,087

Plant and Machinery 428,582 91,829 3,716 137,635 379,060

Watering System 120,930 - - 16,487 104,443

CWIP – Course Projects 40,802 878,774 40,802 - 878,774

10,992,365 1,198,185 44,518 770,142 11,375,890

2017 $

2016 $

23

7b. Reconciliations of Property, Plant and Equipment - 2015/2016Reconciliations of the carrying amounts of property, plant and equipment at the beginning and end of the current financial year are as follows:

Opening Balance $

Additions $

Disposals $

Deprec. Expense $

Closing Balance $

Land and Course Improvements 4,641,813 58,263 - 257,777 4,442,299

Clubhouse renovations 1,760,406 1,793,689 - 149,171 3,404,924

Clubhouse 2,276,446 - - 64,654 2,211,792

Furniture and Plant and Equipment 176,280 230,397 - 63,641 343,036

Plant and Machinery 380,495 148,537 - 100,450 428,582

Watering System 138,330 - - 17,400 120,930

CWIP – Clubhouse renovations 15,940 40,802 15,940 - 40,802

9,389,710 2,271,688 15,940 653,093 10,992,365

2017 $

2016 $

8. Trade and Other PayablesTrade and other creditors 451,491 543,195

Subscriptions and Other Member Income 999,052 963,852

Unused House Account balances 181,873 181,576

Trade Debtors (Function Deposits) 16,204 15,000

Goods and Services Tax 41,120 39,357

1,689,740 1,742,980

9. Current ProvisionsRostered Days Off 7,263 5,360

Annual Leave 139,919 111,766

Long Service Leave 71,243 35,642

218,425 152,768

10. Non-Current Provisions

Long Service Leave 31,992 65,645

11. Auditor’s RemunerationTotal of all remuneration paid or due and Payable to the auditors in connection with:

- Auditing the Accounts 14,000 14,500




2017 $

2016 $

12. Related Party Transactions The transactions between the Club and the Board members have occurred within the normal relationship between the Club and its members, on terms and conditions no more favourable than those available on such transactions to any member.

The Board Members received no remuneration during the financial year.

Key Management Personnel Compensation:Members of the Executive Management team being those persons having authority and responsibility for planning, directing and controlling the activities of the Club.

Employee Benefits 435,657 432,494

Termination Benefits 24,513 145,178

13. Company Limited by GuaranteeThe Kew Golf Club is a Company limited by guarantee. The amount capable of being called up in the event of, and for the purpose of winding up of the Club is limited to $20 per member, subject to the provisions of the Memorandum of Association. The number of members as 28 February 2017 was 1,632 (2016: 1,631).

The registered office and principal place of business is 120 Belford Road, Kew East, Victoria, 3102.

14. Reconciliation of Net Cash provided by Operating Activities to Operating Activities to Operating Profit after Income Tax

Operating profit / (Loss) after Income Tax

(including Entrance Fees) 686,394 663,870

Non-Cash Flows in Operating Profit

Depreciation 770,142 653,093

Changes in Provisions 32,004 (35,429)

(Profit) / Loss on Sale of Non-Current Assets (8,739) 64

Changes in Assets & Liabilities:

(Increase) / Decrease in Receivables and Other Current Assets 54,591 (14,643)

(Increase) / Decrease in Inventories 17,970 (7,273)

Increase / (Decrease) in Creditors (53,240) 89,488

Cash Flows from Operations 1,499,122 1,349,170

15. Segment InformationThe Kew Golf Club operated predominantly in the one activity of operating a Golf Club and in one geographic area.

16. Events subsequent to Reporting DateThere has been no matter or circumstance that has arisen since the end of the financial year that has significantly affected or may significantly affect the operations of the Club, the results of the operations or the state of affairs in financial years subsequent to this financial year.

25

17. Financial Instruments

(a) Price Risk and Credit Risk Exposures The Company deals only with prime financial institutions when entering into financial instruments and does not expect them to fail to

meet their obligations. The maximum credit risk exposure of financial assets of the company recognized on the statement of financial position is represented by the carrying amounts of the assets, net of any allowance for doubtful debts.

(b) Interest Rate Risk Exposures to interest rate risks on financial assets and liabilities are summarised as follows:

2017

Non Interest Bearing

$

1 Year or less

$

Over 1-5 Years

$

More Than 5 Years

$

Floating/Fixed Interest Rate

$Total

$

Financial Assets

Cash and Cash Equivalents 4,100 4,100 - - 171,719 175,819

Trade and Other Receivables 82,631 82,631 - - - 82,631

Investments - - - - 3,226,971 3,226,971

86,731 86,731 - - 3,398,690 3,485,421

Weighted average interest rate 2.35%

Financial Liabilities

Trade and Other Payables 1,582,731 1,582,731 - - - 1,582,731

Interest Bearing Liabilities - - - - 107,009 107,009

1,582,731 1,582,731 - - 107,009 1,689,740


Net Financial Assets (1,496,000) (1,496,000) - - 3,291,681 1,795,681

2016

Non Interest Bearing

$

1 Year or less

$

Over 1-5 Years

$

More Than 5 Years

$

Floating/Fixed Interest Rate

$Total

$

Financial Assets

Cash and Cash Equivalents 4,100 4,100 - - 104,881 108,981

Trade and Other Receivables 116,456 116,456 - - - 116,456

Investments - - - - 2,939,615 2,939,615

120,556 120,556 - - 2,939,615 3,165,052


Financial Liabilities

Trade and Other Payables 1,574,140 1,574,140 - - - 1,574,140

Interest Bearing Liabilities - - - - 129,483 129,483

1,574,140 1,574,140 - - 129,483 1,703,623


Net Financial Assets (1,453,584) (1,453,584) - - 2,810,132 1,461,429

(c) Net Fair Values All financial assets and liabilities have been recognised at balance date at their fair values.

(d) Credit Risk The maximum exposure to credit risk at balance date to recognised financial assets is the carrying amount of those assets as disclosed

in the statement of financial position and notes to the financial statements.




(e) Market Risk The maximum exposure to market risk at balance date to recognised financial assets is the carrying amounts of those assets as

disclosed in the statement of financial position and notes to the financial statements.

Sensitivity Analysis The investment in the Term Deposits is subject to risks associated with the Term Deposits financial assets, being Interest Rates.

As such, fluctuations in the financial markets will impact the financial risks of the Club. For the purpose of the sensitivity analysis, a 10% change in the interest rate received from the investment in the Term Deposits is a reasonable estimate of the sensitivity of the financial asset.

Impact on Total Income from Term Deposits

Year Ended 28 February

Reported Net Profit adjusted for Impact of Movement

Year Ended 28 February

Reported Net Assets adjusted for Impact of Movement

As at 28 February

2017 2016 2017 2016 2017 2016

If the return on the investment was 10% lower than reported (8,426) (9,518) 677,968 654,352 13,072,253 12,384,767 Reported Net Profit - - 686,394 663,870 - -

Reported Net Assets - - - - 13,080,679 12,394,285 If the return on the investment was 10% higher than reported 8,426 9,518 694,820 673,388 13,089,105 12,403,803

18. Commitments for ExpenditureThere were no expenditure commitments as at 28 February 2017.

27

DECLARATION BY BOARD OF DIRECTORS

In the opinion of the Board:

a) the financial statements and notes of the club are in accordance with the Corporations Act 2001, including:

i) giving a true and fair view of the Club’s financial position as at 28th February, 2017 and of its performance for the year ended on that date; and

ii) complying with Accounting Standards and Corporations Regulations 2001; and

b) there are reasonable grounds to believe that the Club will be able to pay its debts as and when they become due and payable.

Signed in accordance with the resolution of the Board:

J. L. Doggett, Captain

M. P. Pickering,President

Dated at Kew East this 27th day of April, 2017



2017 $

2016 $

Operating IncomeMembership Subscription Income 2,905,531 2,810,948

Golf Vic Levy Income 86,387 95,776

Green Fees 179,091 182,214

Competition Fees 141,908 132,388

Locker Fees 19,502 20,160

House Account Forfeiture 32,468 29,762

Bar Profit / (Loss) 71,271 89,945

Catering Profit / (Loss) 75,396 12,065

Charity Functions 10,000 8,701

Storage and Cleaning 87,538 72,970

Sundry Income 23,267 20,482

3,632,359 3,475,411

House Trading 2017

$ 2016

$2017

$ 2016

$

Bar Catering

Income

Sales – Members 423,938 416,268 348,149 334,670

Sales – Private Functions 175,080 155,393 535,708 503,936

Sales – Trade Days 27,628 24,533 56,799 61,297

Sales – Staff Amenities 8,317 4,179 25,453 15,787

Total Income 634,963 600,373 966,109 915,690

Less Cost of Sales 239,035 233,749 300,826 279,560

Gross Profit 395,928 366,624 665,283 636,130

Expenditure

Wages and Related Expenses 286,489 252,148 515,644 559,855

Laundry and General Supplies 2,650 2,650 11,181 13,704

Maintenance Equipment (including Hire) 12,482 6,257 29,553 20,105

Staff Refreshments 20,385 10,746 16,281 14,250

Licence 779 548 753 728

Other Expenses 1,872 4,330 16,475 15,513

Total Costs 276,679 276,679 589,887 624,065

Profit/(Loss) 71,271 89,945 75,396 12,065

DETAILED PROFIT AND LOSS ACCOUNTFor the Year Ended 28 February 2017



2017 $

2016 $

Golf Operation ExpensesWages and Related Expenses 78,813 6,247

Professional Retainer & Commissions 109,213 108,061

Pennant Expenses 24,588 24,587

Trophy, Voucher and Balls Expenses 99,847 108,996

Scorecards Printing 16,835 19,770

Golf Shop Expenses 47,616 -

Honour Boards 7,808 2,870

Members Complimentary Food and Drinks 21,810 24,631

Junior Development 1,000 1,138

Repairs and Maintenance 1,214 6,726

General Expenses 19,307 8,464

Representative Golfers subsidy - 5,559

Practice Fairway Maintenance 370 733

Golf Cart Lease and Other Expenses 24,517 22,680

Golf Vic Levy Expenses 61,027 95,776

513,965 436,238

Course ExpensesWages and Related Expenses 790,763 877,397

Construction, Landscaping, Tree works etc. 54,745 65,488

Electricity, Fuel and Oil 31,851 32,131

Equipment Expenses 8,561 8,540

Fertiliser, Chemicals, Seed and Soil 113,459 106,288

General Supplies 60.121 41,808


Council Rates 10,923 11,161

1,123,334 1,232,617

House ExpensesWages and Related Expenses 109,435 90,818

Cleaning Contract 71,664 64,707

Water, Electricity and Gas 83,327 90,543

General House Expenses 31,015 33,476

Insurance 31,064 39,531


399,333 370,074

Detailed Profit and Loss Account continued...

33

2017 $

2016 $

Administration ExpensesSalaries and Related Expenses 335,272 337,831

Audit Fees 14,000 14,750

Bank Charges and Credit Card Fees 15,783 16,015

Women’s Charity Expenses 10,000 8,701

Computers, Website and Software 57,408 40,089

Entertainment 11,550 13,072

Printing, Stationery and Postage 40,407 34,569

Telecommunications 9,701 10,894

Other General Expenses 50,163 30,921

544,284 506,842

Depreciation Expenses (Non-Cash)Course 411,903 384,100

Clubhouse 343,831 255,188

Administration 14,408 13,805

Total Depreciation Expenses 770,142 653,093

SummaryTotal Operating Revenue 3,632,359 3,475,411

Total Operating Expenses (3,351,057) (3,190,163)

Operating Surplus / (Deficit) 281,302 285,248

Entrance Fees 312,091 283,505

Interest 84,262 95,181

Proceeds on sale of non-current assets 8,739 (64)

Total Non-Operating Revenue 405,092 378,622

Net Surplus Before Tax 686,394 663,870



The Club recorded its 100 year history in 1994 with the publication of “Birdies and Billabongs”. With the approach of the Club’s 125th birthday in 2019, details are being gathered to celebrate this event. Part of this project is to interview club members and this has already started.

After many years of searching, a list has now been compiled of the Kew’s male Victorian Golf pennant players. The list starts in 1899 and consists of 249 names and details all matches played.

During the year the Club has received two golf trophies from former women members. The first is a silver salver won by Mrs. O. B. McCutcheon in 1910. The second was a silver trophy presented to Mrs. R. W. N. Stringer when she won the Kew Associates Championship in 1933. Mrs. McCutcheon was a former Captain and President of Kew and present members play for the McCutcheon Cup.

The Women’s Committee is compiling a list of all Captains and Presidents together with photographs. The list starts in 1924 and a hunt for several photos has started with the help of the Heritage Committee.

Ian Rennick, Chairman

The Trustees of the Fund are: Mr. Ian Rennick, Mr. Dick Curtis, Mrs Barbara Aylen, Mr. Paul Fitz, Mr. John Johnston, Mr. Bob Stannard, Mr. Peter Cairns and Mr. Matthew English.

We, the Trustees of Kew Golf Club Heritage Committee, for the year ended 28 February 2017 state to the best of our knowledge the accompanying financial statements give a true and fair view of the state of affairs of the fund as at 28 February 2017 and of the results of the period ended on that date.

Ian Rennick, Chairman

Dated 27th day of April 2017

CHAIRMAN’S REPORT

Heritage Committee and Foundation Reports

35

2017 $

2016 $

Income

Sale of Bird Book 145 -

Interest received 180 245

Total Income 325 245

Expenditure

Printing – Bird Book (40 Nos) 1,180 -

Printing – Photos - 182

Transcription – Birdies and Billabongs 500 -

Mosaic Training - 240

Purchase of Printer - 140

Books Rebinding 85 -

Total Expenditure 1,765 562

Surplus / (Deficit) (1,440) (317)


2017 $

2016 $

Current Assets

Deposits with The Kew Golf Club 7,463 8,903

Total Assets 7,463 8,903

Funds

Capital 5,000 5,000

Accumulated Surplus 2,463 3,903

Total Funds 7,463 8,903

Accumulated Surplus at the beginning of the year 3,903 4,220

Accumulated Surplus at the end of the year 2,463 3,903

STATEMENT OF CHANGES IN EQUITYAs at 28 February 2017

2017 $

2016 $

Accumulated surplus at the beginning of the year 3,903 4,220

Profit / (Loss) for the year (1,440) (317)

Accumulated surplus at the end of the year 2,463 3,903



The Kew Golf Club HERITAGE COMMITTEE REPORT 2016 - 2017

Summary of Accounting PoliciesThe fund is not a reporting entity because in the Trustees opinion, there are unlikely to exist users who are unable to command the preparation of reports tailored so as to satisfy all of their information needs and this financial report is therefore a “Special Purpose Financial Report” that has been prepared solely to meet the requirements of the Trustees.

The Club has applied the following Accounting Standards and other professional reporting requirements in Australia: Accounting Standard AASB 101 “Presentation of Financial Standards”, Accounting Standards AASB 137 “Provisions, Contingent Liabilities and Contingent Assets”, Accounting Standard AASB 107 “Cash Flow Statements” and Accounting Standard AASB 108 “Accounting Policies, Changes in Accounting Estimates and Errors”. No other Accounting Standards have mandatory applicability. The Club however has adopted the recognition and measurement requirements of the Accounting Standards, with the exception of the following disclosure requirements of Accounting Standards:

AASB 124 Related Party DisclosuresAASB 132 Financial Instruments PresentationsAASB 7 Financial Instruments: DisclosureAASB 112 Income Taxes

Revenue Recognition

Interest RevenueInterest revenue is recognised when earned.

CashCash includes cash held on Deposit by The Kew Golf Club.

Note 1

37


The Kew Golf Club HERITAGE COMMITTEE REPORT 2016 - 2017

CHAIRMAN’S REPORT

In accordance with the Club’s Strategic Plan the Foundation was established early in the year and an initial approach was made to members seeking donations.

The trustees have adopted a low key approach to raising funds for the Club’s benefit not wishing members to feeling obligated. Given the socio-economic profile of the membership it is to be hoped that the fund will gain momentum this coming year.

Other Clubs have been successful in accumulating sizable funds to supplement their regular income and provide that little bit extra for many worthwhile causes that they would otherwise go without.

A number of members are keen to erect a stone bridge across the billabong on the fourth hole and plans and costings are being developed for this purpose. Members may contribute to such projects or increase the corpus of the fund by tax deductable donations through the Australian Sports Foundation or non-deductable donations to the Foundation directly.

This year members will be given an opportunity to donate to the Foundation at the time of their subscriptions renewal. Tentative plans are also in train to hold a Kew Golf Club Foundation Golf Day in October of this year.

I would like to thank those members who act as Emissaries to the Foundation, namely:

John Isaac AM, Chairman

The Trustees of the Foundation are: Mr. John Isaac AM, Mr. Matthew English, Mrs. Jo-Anne Wormald, Mr. Stephen Kay, Mr. Timothy Pitt and Mrs. Hilary Hodgetts.

We, the Trustees of The Kew Golf Club Foundation, for the year ended 28 February 2017 state to the best of our knowledge the accompanying financial statements give a true and fair view of the state of affairs of the foundation as at 28 February 2017 and of the results of the period ended on that date.

John Isaac AM, Chairman

Dated 27th day of April 2017

Noel AndersonDenyse Anderson Barbara AylenPeter BalharrieMary BalharrieGraeme BallardHelen BallardBruce CandyJudy Candy

John ConnellanClark DaveyJohn DoggettKen DoggettJohn HanneberyAndrea MooreBrendan MoorePeter MyersVince Piccolo

Ian PickenIan RennickVyn TozerPrue TozerStephen ValentineRoland WilliamsBernard Wheelahan AM


The Kew Golf Club FOUNDATION REPORT 2016 - 2017

2017 $

2016 $

Income

Donations

General Projects 13,670 -

Beautification Projects 593 -

Interest received 135 -

Total Income 14,398 -

Expenditure

Total Expenditure - -

Surplus / (Deficit) 14,398 -


2017 $

2016 $

Current Assets

Deposits with The Kew Golf Club 14,398 -

Total Assets 14,398 -

Funds

Capital - -

Accumulated Surplus 14,398 -

Total Funds 14,398 -

Accumulated Surplus at the beginning of the year - -

Accumulated Surplus at the end of the year 14,398 -

STATEMENT OF CHANGES IN EQUITYAs at 28 February 2017

2017 $

2016 $

Accumulated surplus at the beginning of the year - -

Profit / (Loss) for the year 14,398 -

Accumulated surplus at the end of the year 14,398 -


41

Summary of Accounting PoliciesThe Kew Golf Club Foundation is not a reporting entity because in the Trustees opinion, there are unlikely to exist users who are unable to command the preparation of reports tailored so as to satisfy all of their information needs and this financial report is therefore a “Special Purpose Financial Report” that has been prepared solely to meet the requirements of the Trustees.

The Club has applied the following Accounting Standards and other professional reporting requirements in Australia: Accounting Standard AASB 101 “Presentation of Financial Standards”, Accounting Standards AASB 137 “Provisions, Contingent Liabilities and Contingent Assets”, Accounting Standard AASB 107 “Cash Flow Statements” and Accounting Standard AASB 108 “Accounting Policies, Changes in Accounting Estimates and Errors”. No other Accounting Standards have mandatory applicability. The Club however has adopted the recognition and measurement requirements of the Accounting Standards, with the exception of the following disclosure requirements of Accounting Standards:

AASB 124 Related Party DisclosuresAASB 132 Financial Instruments PresentationsAASB 7 Financial Instruments: DisclosureAASB 112 Income Taxes

Revenue Recognition

Interest RevenueDonations and Interest revenue is recognised when earned.

CashCash includes cash held on Deposit by The Kew Golf Club.

Note 1



THE KEW GOLF CLUBFOUNDED 1894

PO Box 70, Kew East, Vic. 3102, Australia

Telephone (03) 9859 6848 Facsimile (03) 9819 7576

www.kewgolfclub.com.au

94th Annual Report 2016 - 2017 - Amazon S3 · 2017-05-06 · THE KEW GOLF CLUB ACN: 004 098 257 120...

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