Kooyonga Annual Report 2016/17

Annual Report 2016 - 2017

VisionTo be a vibrant and progressive club, recognised for our strong sense of values and unique Kooyonga experience Mission To provide members and guests an outstanding golfing experience and industry-leading facilities and services Culture & Values Respect Excellence Inclusive Friendly

Content of Annual Report Kooyonga Statistics 2 Strategic Plan Key Projects 4 Office Bearers and Committee 6 Captain’s Report 7Content Page Course 9 House, Events & Heritage 10 Finance 12 Golf Shop 13 Match 14 Women’s Golf 17 Competition Results 18 Membership 20 Vale 21 Staff & Administration 22 Volunteers 23 Archives 23 Elections 23 Committee 23 Conclusion 23 Financial Statements 24 Kooyonga Foundation Reports 46

ENJOYABLE TOP 3 WORDS USED TO DESCRIBEEXCELLENT MEMBERSHIP AT KOOYONGAPRIVILEGED MEMBERSHIP FINANCIAL 19 years $6.3M AVERAGE LENGTH TOTAL REVENUE IN 2016/17 OF MEMBERSHIP 7.1% GROWTH COMPARED TO PRIOR YEAR m55enmebwers 47.8% OFFSET 66 TRANSFERS TO NON PLAYING CATEGORIES PAYROLL COSTS AS % OF REVENUE (6% ATTRITION) IN LINE WITH KEY RECIPROCAL CLUBS AT 48% 1.5% Annual Operating Surplus: DECLINE IN CAT 1 MEMBERS $127K $1M REDUCING COURSE TRAFFIC ACCOUNTING PROFIT CASH PROFITOf our 1328 fee paying members: $1.3M ON CAPITAL PROJECTS IN 2016/1715% 25% $2.2MAGED UNDER 40 YEARS AGED OVER 70 YEARS IN BANK AS AT MARCH 2017Annual Report 2016/17 Page 2

49% OF MEMBERS JOIN KOOYONGA BECAUSE OF FAMILY/FRIENDS GOLF GENERAL 3hr 53min 21.5% AVERAGE TIME PER LESS WATER USED ON COURSE ROUND OF GOLF BEST RAINFALL IN 20 YEARS ALLOWING 15 MINUTES TO ENTER SCORE 200+ 47,054 ESTABLISHED TREES PLANTED ROUNDS OF GOLF 2016/17 IN 2016/17 INLINE WITH THE LANDSCAPE PLAN OF WHICH 85% ARE MEMBER ROUNDS (UP 1.5% ON LAST YEAR) Corporate golf at Kooyonga: p3e5rrmouenmdbser 26% $166 ON AVERAGE IN 2016/17 DECLINE IN EVENTS AVERAGE SPEND/PLAYER 10% INCREASE LAST 5 YEARS 596 LESS PLAYERS ON COURSE INCREASE 27% FROM 2015/16Average spend per round of golf: $69$19.20 $10.75 AVERAGE SPEND PER GUEST AT 217 FUNCTIONS 2016/17FOOD & BEVERAGE GOLF RETAIL COMPARED TO $73 2015/16COMPARED TO $22.80 FOR COMPARED TO $9.80 FORINDUSTRY (15.75% LOWER) INDUSTRY (15.5% HIGHER) 25% SUBSCRIPTION FEES PAID BY MONTHLY INSTALMENTS 5% INCREASE FROM 2015/16 Annual Report 2016/17 Page 3

2016/17 2017 Construction and opening of the Completion of a clubho Kooyonga Foundation Golf Academy member consulta Introduction of the temporary Launch of a fully inte ‘Pathway and Family Membership’ categories website f Continued progress with rolling 5 year plan for the course, Upgrade of the Me including upgrade of the practice facilities Host the WomenInitial work on the development of a draft clubhouse master plan Course works on 1st hole Enhancement of member hospitality offerings (breakfast hut service after golf snacks table service) New irrigation tanks with increased storage capacity In line with thAnnual Report 2016/17 Page 4

7/18 2018/19 ouse masterplan following Commence Stage 1 of building works in line with the masterplan ation and feedback including relocation of women’s locker room and upgrade egrated IT system and of existing space for the Club Course works on 17th hole in line with the 5 year plan embers’ Bar furniture Develop plans to upgrade the maintenance facility and n’s Australian Open enhance staff amenities e in line with the 5 year plan Initial design and costing for a new irrigation system to be installed by 2025 Planning for centenary celebrations in 2023 Key Projectshe Strategic Plan 2016 to 2020 Annual Report 2016/17 Page 5

Annual Report of the CommitteeOffice Bearers and Committee President Vice-President Captain Vice-CaptainMr John Blunden Mr John Garrett Dr Grant Raymond Dr Ken Russell Committee Committee Committee CommitteeMrs Debbie Alexander Mr Sam Atkins Ms Helen Egar Mr Crawford Giles Committee Committee Committee CommitteeDr Angas Hains Mr Gary O’Loughlin Mr Tim Sennett Mr Tony TimminsAttendance at Committee MeetingsApril 2016 - March 2017DA Alexander 9 out of 10 GD O’Loughlin 12 out of 12 Retired Committee: 2 out of 2SJ Atkins 10 out of 12 GC Raymond 12 out of 12 TJ Anderson 2 out of 2HE Egar 11 out of 12 KJ Russell 10 out of 12 JM Harvey 1 out of 2CD Giles TJ Sennett 12 out of 12 GR Kay ADB Hains 9 out of 10 AJ Timmins 11 out of 12 10 out of 10Annual Report 2016/17 Page 6

Annual Report of the Committee Captain’s ReportIt is my pleasure to present the within the golf industry. I can assure and expand member facilities and Annual Report for the year ended members that the Club remains in services to better serve the needs of31 March 2017. good hands under the management of our current membership base, whilstFirstly, I wish to thank members for an extremely hardworking and forward allowing the ability to build a morethe support I have received during thinking Committee, General Manager diversified membership profile. Themy Captaincy. As I near completion Brett Lewis and a team of dedicated core strategic intent is to re-establishof my term and reflect on 7 years staff. a healthy waiting list and to increaseon Committee, I feel a strong sense We have a wonderful golfing facility our annual cash flow to enable us toof pride in the progress made and that members should be proud of, continue to invest in Club facilitiescontinued status of our great Club but I stress the need for the Club to for the benefit of current and future continually strive for excellence, not members. only with respect to the course but in The Committee has worked extremely all areas of its membership offering. hard over the last 12 months to Strategic Plan complete a number of the initiatives At last year’s Annual General Meeting, detailed in the strategic plan. I have I presented the strategic plan to cover highlighted a number of achievements the 5 year period from 2016 to 2020 throughout my report and this Annual and outlined the broad strategic Report and have touched on key objectives and key outcomes for each projects for the year ahead. I remain of the functional areas of the Club extremely confident that a continued by 2020. The Committee settled on focus on the achievement of the a strategic direction that seeks to strategic objectives within the plan will maintain a premier golf experience result in a successful and sustainable future for Kooyonga. Key Outcomes Expected by 2020Course Water Golf Clubhouse Kooyonga to be firmly Kooyonga to be well For our members and The Kooyonga clubhouseentrenched as one of the advanced with the design of guests to complete their atmosphere is alive,leading traditional (sand golf experience at Kooyongabelt) courses in Australia a new irrigation system with a genuine sense of progressive and vibrant with satisfaction and enjoyment much broader participation and recognised for itssuperb conditioning and of the membershipplayability all year round accessing a wider range of facilities underpinned by first-class service. Membership Communications Management & Finance Governance & Risk We have re-established To ensure members are fully healthy waiting lists informed of relevant Club We have a highly The ability to fund critical matters in a timely manner performing and motivated Capex projects to maintainproviding increased financial management team, with the competitiveness and confidence to continue to strong succession plans and attractiveness of the Club to make critical investments backed by a Committee that current and future members has experience, skill sets and governance processes to strategically guide the Club Annual Report 2016/17 Page 7

Annual Report of the CommitteeCaptain’s Report (cont)Upgrade of practice facility includes four target greens with bunkers and a synthetic hitting matConstitution Change Royal Adelaide Golf Club’s with great the construction of the Golf AcademyA number of important amendments interest. I have no doubt this event with the upgrade including four distinctto the Constitution and Rules will be will enhance our brand, showcase target greens with bunkers, anotherpresented for member approval at the our wonderful facilities and course putting green and a synthetic hittingupcoming Special General Meeting to to a global audience and provide mat to help manage wear on the teefollow the Annual General Meeting. our members with an opportunity to particularly during winter. We haveThe changes are primarily designed to watch some of the best female golfers received glowing accolades sinceprovide greater flexibility for the Club in the world. This will be our first opening the academy with respect toand members to communicate via Women’s Open, to continue the great having one of the best practice areaselectronic means in line with modern tradition Kooyonga has in having held in the country and I strongly encouragepractices. I encourage member support five previous Australian Men’s Open all members who are yet to experiencefor these changes, with an explanation Championships. the facility to book a lesson with oneof the amendments included in the Over the coming months, information of our teaching Professionals. I cannotice of meeting that has been posted will be released by Golf Australia honestly say from experience that theto all voting members. on volunteer requirements for the video images and data provided duringMajor Events Women’s Australian Open. I encourage a lesson can benefit any level of golferWe hosted the Australian Men’s all members to help support the event and will exceed your expectations - it isSenior Amateur Championships in by contributing as a volunteer in some certainly not just for elite players.October 2016 with excellent feedback capacity. I take this opportunity to acknowledgeprovided by participants as well as Indoor Teaching Facility & Upgrade the financial assistance of therepresentatives from Golf Australia who to Practice Fairway Kooyonga Foundation which in anorganised the event. Unfortunately, An exciting project completed over historic partnership with the Club,the Southern Cross Invitational event the last year was the construction of agreed to fund the cost of the buildingscheduled to be played at Kooyonga the new Golf Academy on the practice works and contributed $475,000in mid-March 2017 was cancelled by facility. The academy incorporates towards the project in 2016-17. ThisGolf Australia after a number of invited state-of-the-art teaching equipment, financial commitment allowed thecountries were unable to participate. allowing members of every skill level to project to proceed without the needWe look forward to hosting the increase their enjoyment of golf and is for borrowings and has allowed otherWomen’s Australian Open in February the first of its kind in private golf clubs in important Club projects to be brought2018 after observing the first two South Australia. A major redevelopment forward.events in Adelaide at The Grange and of the practice fairway coincided withAnnual Report 2016/17 Page 8

Annual Report of the Committee CourseSteven Newell and his team of to be completed. The fifteenth green and preparation of the course for the dedicated course staff have complex will effectively return to the tournament. Construction work will beworked tirelessly throughout the last past, with a lowered two tiered green minimised, with minor work planned to12 months to present the course in with reduced fall offs which hopefully will include:excellent condition while completing make the hole much fairer for golfers ofa number of projects on course which all levels. • Landscape enhancement throughincluded: the 3rd carry to provide further Landscape Enhancement Plan (LEP) consistency to the course • The 12th green was re surfaced in line The vast majority of work detailed in with our policy to upgrade one green the LEP has now been completed, with • Enlargement of the forward ladies tee per year, along with fairway widening a small amount of tree work recently on the 10th hole that will be in use and landscape enhancement works approved for the area between 16th during the Women’s Australian Open throughout this hole fairway and 17th tee to provide a succession plan for a declining area of • The poor quality brush fence will be • Minor remodelling of the 10th green vegetation. The removal of poor quality replaced at the rear of the 6th tee side bunkers along with landscape vegetation has allowed a significant tree enhancement works through the carry replacement program with the planting • The declining asphalt paths around and fairway widening of three trees for every one removed. 1st tee will be replaced with The replacement trees comprise more rubberised surfaces • An additional fairway bunker was appropriate species, are planted away added to the right side of the 16th from the playing corridors and ensure Course Equipment Expenditure fairway that when mature trees reach the end It is imperative that we maintain a of their lives, there are ready-made modern fleet of equipment to maintain • Major upgrade of the practice fairway replacements. the course to the highest possible including the creation of four target standards all year round. To that end, greens and a new putting green as Other activity completed in our major items of capital equipment mentioned previously plantation areas on course over the last purchased over the last year included 12 months have included: a new hybrid Diesel / Electric fairway • The first green has recently been • De-coning and pruning of the mower that was chosen for its resurfaced with the contours retained environmental and running cost benefits and the bunkers modified throughout significant pines within the copse as well as its superior cutting, a new this hole to better reflect the recent between the 8th and 9th fairways to surrounds mower and a new runabout changes to the course. An additional protect against further loss after two vehicle. In the year ahead we have fairway bunker has been installed large tree failures in this area during budgeted to upgrade our irrigation short left of the green to tighten the severe storms last year self-cleaning filter after 20 years’ approach shot • A significant pine was lost behind the service, upgrade our existing fleet of 5th green which was promptly pedestrian greens mowers to the latest • Couch grass encroaching into the removed and replaced with mature cutting technology and replace our old Bentgrass surrounds was removed fast growing natives petrol greens roller with another electric around greens 3, 8 and 17 with • An annual audit was carried out on machine that have been used on the chemical controls showing positive our significant trees to ensure they greens with excellent results for the last results on other areas are maintained safe and healthy few years. • Two 250,000 litre tanks were installed I remain confident that our continued Water & Irrigation System adjacent to the pump shed on the 2nd focus on the execution of the rolling The two new storage tanks mentioned hole that have increased our water 5 year course plan and final stages of previously provide a greater buffer when storage capacity from 100,000 litres the LEP plan in line with our guiding irrigating the course and have eased to 500,000 litres, mitigating our risk if principles will enhance our reputation the pressure on our bore pumps that other irrigation infrastructure fails and significantly improve the playability work tirelessly over summer. Pleasingly of the course for all members. I have for the first time for many years we had no doubt the benefits will become no significant bore failures during the5 Year Course Plan increasingly apparent as the new summer period.In late 2016 Committee extended plantings mature over the coming years.the Five Year Course Plan through 631.5 mm of rainfall was recorded duringuntil 2021, with detailed drawings Upcoming Course Works 2016 marking the best annual rainfallfrom Course Architects Crafter and Following completion of the 1st hole for over 20 years. As a result, only 203Mogford posted on the notice board works in June, a key focus in the lead MgL of bore water was required to waterand website. The drawings highlight up to the Women’s Australian Open the course in 2016. This compares torelatively minor modifications of the will be on day to day maintenance 278mm of rain and 259 MgL of borefirst, tenth, sixteenth, and seventeenth water used in 2015.green complexes, with a much neededmakeover of the fifteenth green complex Annual Report 2016/17 Page 9

Annual Report of the CommitteeHouse, Events & HeritageOver the last 12 months our Additional hospitality offerings has been extremely comprehensive House leadership team and the introduced over the year have included and has considered all areas of thehospitality services offered have daily breakfast service, after golf snacks, clubhouse and an array of potentialevolved considerably following the manning of the hut on Wednesdays and services and facilities that could beappointment of Anna Fontaine as Saturdays, full table service and extended developed for the benefit of membersClubhouse Operations Manager in operating hours throughout the week. over the next 20 years in line with themid-2016. Overall, we have been extremely pleased strategic plan. Although the plan willShe has brought a fresh set of eyes and with the feedback from members on the contain aspirational elements, it willstrong commitment to service and has noticeable difference in our hospitality provide an excellent road map for futurenot been afraid to make the important operations, but please understand consideration and decision making. Thedecisions with support from Committee that there is a cost to provide this level Committee is focusing attention onand Brett. During the year we introduced of service which is partly reflected in an initial stage of works and will holda new Head Chef, Peter Milosevic who the financial results. We expect to see a member information session in thehas improved the quality and consistency an increase in turnover as confidence coming months to provide further detailsof our food offerings. I wish to highlight grows in our offerings and I encourage and costs estimates of the proposedthe appointments of ‘front of house’ members to utilise the high quality building work as part of a period ofTeam Leaders in Tania and her sister, hospitality services now on offer at the consultation with the membership.Di who are standout performers and Club. Subject to cost considerations andhospitality professionals who have made I also encourage members to consider member endorsement, it is likely thea significant difference to Kooyonga in the Club when organising your next initial stage will focus on the relocation ofsuch a short time. private or business function. We have the women’s locker room to the southernA greater emphasis has been placed on wonderful facilities ideal for day time side of the building with a new buggystaff training and development to ensure seminars and conferences as well storage area underneath, refit of thethe service provided at Kooyonga is as a variety of family and corporate existing locker room area and amenitiesrecognised as industry leading. Our aim celebrations. to include functional floor space and ais to build confidence and encourage We have spent considerable time new men’s toilet and demolition of thegreater usage of the clubhouse over the last 6 months developing an tired and dysfunctional flat in the southby members who are proud of the initial draft clubhouse masterplan with eastern corner of the clubhouse to behospitality service and food offerings. architects Walter Brooke. This process replaced with member facilities and a new members entrance with upgraded administration area. Members receive complimentary room hire for private functions. Please contact Anna Fontaine, Clubhouse Operations Manager for further details.Annual Report 2016/17 Page 10

Annual Report of the Committee House, Events & HeritageMembers will be pleased to hear that the upgrade of Members’ Dinnerthe furniture in the Members’ Bar is now underway. Wespent considerable time assessing the functionality and Family Fun Dayuse of the Members’ Bar and dining room as part of theclubhouse masterplan and held off making a decision Melbourne Cup Lunchon the furniture until the future use of these spaces was Annual Report 2016/17 Page 11clear. Following an extensive process of investigatingsuitable chair options, we have decided to reupholster thecurrent chairs in black leather and refurbish the currenttables. We have engaged Club member, Quentin Brown tocomplete the refurbishment. Quentin actually helped makethe current chairs whilst working as a young man for hisgrandfather’s business, TH Brown Furniture, over 40 yearsago. Considering the durability of the chairs and tables overso many years, we are confident that this decision is bestin regards to the workmanship, style and quality. We alsoplan to introduce a cluster of sixteen single seater loungestogether with four coffee tables around the fireplace areato replace the two seater lounges currently in this space. Wewill also add some screening and a credenza to help servicethe bar and bistro areas. These will also break up the spacesto avoid the need to use the current block-out room dividersunless a function is in progress.We hosted a number of regular social events during the yearincluding the Members’ Dinner, Medallist Dinner, MelbourneCup Day, The Family Fun Day, Mother’s Day, Father’s Day,Foundation Golf Day, Christmas Twilight Dinner as well as anumber of themed twilight events and the regular ‘ThursdaySunset Golf’ series during day light savings. We thankmembers who attended these functions, many of whom areregulars at such events. A more diverse range of memberswould be more than welcome so I encourage others toattend and help build camaraderie within the Club.New social events to highlight include the FoundationTwilight Dinner with Don Pyke as guest speaker, the hugelysuccessful Masters Breakfast & Golf Event and the recentlyheld Member’s Art Exhibition. We also hosted a Golf PremierLeague Dinner following the inaugural season last year andhope to build a bigger and better attended event in 2017.A full program of social events has been planned for2017/2018 and is included in the handbook to bedistributed shortly. We are planning a garden party themed‘Garden of Kooyonga Delights’ in October with a varietyof food stalls, live music and a relaxed atmosphere onthe lawns so we encourage members to support this newinitiative and invite family and friends to attend.Special thanks goes to all the House, Events & Heritage SubCommittee members for their attendance, support of Clubevents and valuable input during the year.

Annual Report of the CommitteeFinanceThe operating result for the 2016/17 financial year To provide further explanation of the $114K decline in the was an annual surplus of $127,201, a result below house trading results, we experienced a sharp decline inthe budget and last year. This report and the Financial wedding bookings in 2016/17, hosting just 4 weddingsStatements included within this Annual Report explain compared to 14 last year. This decline was not isolated tothe reasons for the lower than expected financial Kooyonga, with other Group 1 clubs in Adelaide experiencingresult. a similar drop off in wedding bookings. While we replaced much of this income with member events and an increase inOn a cash basis, we achieved a cash operating surplus day to day member turnover, these activities are not nearlyof $956,450 prior to depreciation for the year ended 31 as profitable as weddings and other third party functions.March 2017. It is important to be aware that in order to fund As a result, our food gross profit suffered a decline from aimportant capital projects over the next 10-20 years, we record high of 59% last year to a much lower level of 51% forneed to increase the annual cash surplus of the Club to a 2016/17 which accounts for $73K of the overall shortfall.higher level to ensure the projects can be funded with little The remaining shortfall comes from the additional wagesor no debt. to provide a higher level of service and food offerings in 2016/17. In the previous pages I have commented furtherThe operating shortfall of $98K compared to last year was on these additional services in a more comprehensivedue to a few primary reasons, summarised as follows: house, events and heritage report. 2016/17 Budget • $114K decline in our house trading results which I have Our strategic objective is to work towards a break-even explained further on operating result prior to entrance fees, and we have • $11K shortfall in corporate golf income with a conscious budgeted to achieve this outcome in the year ahead through decision to reduce the number of corporate events on improved profitability from external income sources and an course, but maximise profitability from those events emphasis on increasing spend per head and margins as well held. Overall, we hosted 6 less events and had 596 less as maintaining tight control of overhead costs across the corporate guests on course in 2016/17. We increased Club. We continue to make every effort to keep annual fee the average spend by $35 (25%) per player increases to a minimum but are also mindful of preserving • $65K in additional course operating expenses including: our status as a premier golf club by providing an outstanding golfing experience and superior member facilities and - $26K in additional tree maintenance to improve the services. Industry benchmarking suggests we are efficient health of significant trees and reduce any safety risks with costs across the Club and our subscription fees are at across the course and around boundaries and the the lower end of the scale in comparison to key reciprocal clubhouse surrounds and carpark clubs. - $35K in long service leave provisions for four The budget for 2017/18 is an operating surplus of $26K, course staff members who have reached 5 years of an increase of $145K over the actual deficit of $119K in employment at the Club 2016/17. It is expected that the total surplus for the year • $48K in additional depreciation costs will be $275K after accounting for new member entrance • $12K reduction from the profit on sale of plant and fees. On a cash basis, we expect to achieve a cash operating equipment surplus of $1.15M prior to capital expenditure of $850K planned for 2017/18.The additional costs and trading shortfalls listed abovewere offset by an additional $152K collected in annualsubscription fees and a modest $6K increase in thecontribution from the golf shop operation. Actual Budget Last Year Budget 2016/17 2016/17 2015/16 2017/18Operating Surplus/ (Deficit) $(119,536) $ 2,337 $ (20,953) $ 26, 417Entrance Fees $ 246,737 $ 240,000 $ 261,276 $248,000 $ 242,337 $ 240,323 $274, 417Total Surplus/ (Deficit) $ 127,201 Annual Report 2016/17 Page 12

Annual Report of the Committee Golf ShopThe 2016/17 year was the first full We have learnt a great deal about the The Golf Academy is also equiped with 12 month trading period for the range and quantity of stockholding a high quality golf simulator that offersnew golf operations department required in the shop and we will continue members the opportunity to play 20following the decision by the Club to to adjust our buying practices and add of the world’s best golf courses in allresume control and management of new products to meet the demands of weather conditions with fellow membersthe golf shop from 1 August 2015. the membership. Over the last 12 months, and guests. We are yet to fully market thisWe have been pleased with the progress we have added Ecco shoes, Taylor Made service, but encourage members to bookmade over the first 18 months, both in clubs and Rohnisch clothing products to a round with friends, have some fun andterms of the quality and range of service name a few. It is important to understand share your experience to help promotebeing provided and the growing turnover however that we cannot maintain a full its use. We also plan to host a numberthanks to member loyalty and ongoing range of colours and sizes in all stock of simulator events and challengessupport of the shop. Susie Mathews (Golf items, but can place orders with suppliers during the winter period, so look out forOperations Manager), John Corbett (Head that will generally arrive quickly. upcoming promotions.Professional) and the golf shop team Please remember that by supporting the During the year we acquired a new fleethave worked extremely hard to improve Kooyonga Golf Shop you are investing in of E-Z-GO golf carts which are the #1 golfthe services on offer and I thank them for the ongoing and continued success of cart in the world. Our fleet increased fromtheir ongoing efforts. Kooyonga with all profits returned to the 17 to 20 carts and each cart has a GPSThe overall financial performance Club. Golf Pilot device installed. The GPS Golfof the shop has tracked closely with The opening of the Golf Academy during Pilot is a touch screen device which addsour original budget estimates and is the year has seen a surge in the demand value to the golfing experience and allowsnot a cost burden to the Club. Retail for lessons and club fitting services, with the Club to control where the cart cansales have exceeded our expectations, Head Professional John Corbett close and can’t go, a vital tool to minimize wearsurpassing $500K in 2016/17 and to reaching lesson capacity each week. and tear on the course.further growth is projected in the year To increase utilization of the facility and ‘The Kooyonga Way’ Videosahead. Our gross profit margins fell widen the available hours for lessons, we We have been working on the productionslightly from 34% to 31% in 2016/17 have recently appointed Jordan Harkin of a series of in-house videos to helpdue to impacts on the Australian Dollar as an Assistant Professional and he will educate new and existing membersand a decision to price various products commence duties in June. We now have on course etiquette. The videos will beto build loyalty and confidence in the four qualified teaching Professionals released over the coming months and willshop. The supplementary information including John, Jordan, Duard and Susie include topics such as tips for improvingprovided within the financial statements to offer a full range of tuition services in speed of play, how to repair a bunker andshows the net contribution of the golf our state-of-the-art Golf Academy and how to repair divots and pitch marks.shop operation was $126K in 2016/17 we will continue to open available hours Speed of play continues to be a topic ofcompared to $120K in 2015/16. Please for coaching to meet member demands. regular discussion at Committee and wenote that the comparative figures for The facility provides a new revenue have spent considerable time assessing2015/16 provided within the financial source for the Club and we will continue weekly round time statistics and the manystatements are for 8 months only, with to market the services and invest in factors that impact the time it takes tothe remaining 4 month period relating to quality teaching staff to maximize the complete a round of golf. You will noticethe old contracted Professional structure. return on the investment. in the graph provided that the average time to complete a round has slightlyhrs/mins/secs 4:00:29 Daily Average Time Per Round 22001155//1166 increased over the last 12 months by 35 3:56:10 Mon Tues Wed Thurs Fri Sat Sun seconds to 3 hours 53 minutes. There has 3:51:50 22001166//1177 been improvement on a Saturday with 2 3:47:31 tee starts and an increase in the tee time 3:43:12 22001165//1176 intervals, but rounds have been slower on 3:38:53 AAvveeraraggee a Tuesday and Wednesday. Committee 3:34:34 A2A2v0v0e1e1r5ar6ag//1ge16e7 continue to work on strategies to improve 3:30:14 speed of play which include marshalling, education, promotion of ready golf and managing filed sizes and interval times between groups. Most importantly we need members to keep their place in the field to ensure a consistent flow across the day. Annual Report 2016/17 Page 13

Annual Report of the CommitteeMatchIn last year’s report, we advised Pictured above: Simpson Cup Team 2016 that golf rounds were being closelytracked and estimated 46,500 Average Weekly Competition Fieldsrounds were played at Kooyonga in2015/16. 2015/16 2016/17 % ChangeOur records indicate that rounds have 79 (16)%grown by 500 in the last 12 months to a Tuesday 94 167 0%total of 47,000 across the membership 172 8%year. The growth has primarily come from Wednesday 167a 5% increase in member rounds despitean overall decline in playing members Saturday 159and this growth has been partly offsetby a decline in corporate golf rounds. We We introduced the Golf Premier League The Pennant season saw some closehave tracked average member rounds for men on a Wednesday in 2016 which results. The Simpson Cup team narrowlyback to 2012/13 and identified the was a great success with 14 teams missed the final and finished 3rd foraverage number of rounds played by participating in the competition. The the season. Both the Bonnar Cup &members has grown from 32 rounds inaugural winners were the team of Ginge Sharp Cup teams finished 4th while theper member per year in 2012/13 to 35 comprising of Gary Allison, Mark Mitton, Junior Division 2 team fought hard inrounds per member per year in 2016/17. Bevan O’Connor, Paddy Bowler, Philip a handicap match play competition toResearch indicates that on average, new Sanders & Kym Duval. The GPL Brownlow finish 7th with a lot of close matchesmembers joining the Club are playing Medallist was Kym Duval (26.333) closely during the season.more golf than those that resign. The followed by John Harvey (25).Committee is closely monitoring courseusage in terms of comfort levels for themembership and wear and tear andwill continue to adjust field sizes andmembership quotas in the differentcategories to ensure the course ismaintained to the highest standard andmembership satisfaction is maximized.In 2016, we saw a positive increase inmembers entering major club eventsindividually and in team competitions.The following graph highlights theaverage weekly competition fields incomparison to 2015/16. 2015/16 Total 46,363 2016/17 Total 47,054Annual Report 2016/17 Page 14

Annual Report of the Committee MatchIn the Women’s Pennant competition, the A1 team were Pictured (L-R): Grant Raymond presenting trophy to Club Championso close to winning the competition however had to settle Will Somerfield alongside Ken Russell and Runner-Up Sam Inglisfor 2nd place. There was great team spirit shown by thisteam and the end of season celebrations reflected the greatteam spirit. The Women’s A3 Pennant team also had a verygood season and were unlucky not to take home the titlehowever we congratulate them on a good season with a2nd place finish. The Women’s A2 Pennant team finishedin 3rd place with some solid results during the season andthe Cleek 1 team fought hard not to be relegated, finishingin 7th position. Thank you to all members who supportedthe Pennant teams throughout the season, especially to TimSennett who managed the Simpson Cup team, Tony Timminswho managed the Bonnar Cup team, Al Hayter who managedthe Sharp Cup team, Merry Frogley who managed theWomen’s A1 team, Jude Marlow who managed the Women’sA2 team, Jill Trenorden who managed the Women’s A3 teamand Jayne Cruse who managed the Cleek 1 team. Also, we saya big thank you to the ‘regulars’ who attended and supportedthe majority of matches throughout the year.There was a strong field again for the Men’s ClubChampionship which was played over the June longweekend. Will Somerfield won his first championship bynarrowly defeating Sam Inglis in a closely fought final. LisaBrien won the 2016 Women’s Club Championship defeatingJodie Deacon in the final.In 2017 the Women’s A Grade Championship will be heldin conjunction with the Men’s Club Championships on theJune long weekend, in order to showcase our top golferstogether and to provide opportunities for students andworking women in particular to participate. The first round ofqualifying will be held on the Saturday prior.The Junior Championships were played in October 2016 and Pictured: Lisa Brien, Women’s Club Championcongratulations again go to Joe Hodgson for winning theJunior Boy’s Championship for the third consecutive year.Congratulations to Bella Cahill-Terrell for winning her firstJunior Girl’s Championship.Bruce Lindner was the winner of the 2016 SeniorChampionship. Bruce was also a first time winner of theevent which was played over multiple weekends in Octoberand November. Congratulations Bruce.A great number of players entered the Four-Ball events Pictured (L-R): Bella Cahill-Terrell and Joe Hodgson,in 2016. The 2016 Winter Four-Ball competition was Junior Club Championswon by Trevor Dolman & Bernie Bowler, the 2016-2017Summer Four-Ball competition was won by Alistair Flynn &Nick Yorston and the inaugural 2016 Mixed Winter Four-Ball competition was won by Scott MacKenzie & AmandaMacKenzie. Congratulations to all of the competition winnersfor 2016. Annual Report 2016/17 Page 15

Annual Report of the CommitteeMatchPictured Above: RS Thomson winners, Mitch and Jill Trenorden Pictured Above: MAKK Cup - A team of representatives from eachwith Grant Raymond of the competing clubsThe Valerie Hill Memorial Trophy which is a very important Hole-In-Onesand highly desired competition on the women’s golf calendarwas won in 2016 by Melissa Nelligan who was a popular Congratulations to the following members whowinner of the trophy. This was Melissa’s first Valerie Hill achieved a hole-in-one through the 2016/17 year:Memorial Trophy win. In the history of the competition therehave only ever been two players to have won the trophy Ian McDowall Tony Timminstwice, the late Dorothy Officer in 1978 & 1994 and Judith 7th hole 23/4/16 14th hole 7/1/17Roberts in 2000 & 2009. Helen Moore Mark MittonIn the prestigious RS Thomson Trophy, Mitch Trenorden 3rd hole 28/4/16 3rd hole 18/1/17& Jill Trenorden were the 2016 winners by one shot from Kyle Hayter Paul NewmanDavid Raggatt and Helen Berry. It is always great to see 3rd hole 13/5/16 14th hole 4/2/17so many players playing in the event and fun to watch the Sam Atkins Don Pykeresults of the hotly contested event unfold on the day. 7th hole 11/6/16 19th hole 9/2/17Kooyonga hosted the MAKK Cup in March 2017 which is Gary O’Loughlin Craig Masona competition against The Australian, The Metropolitan 3rd hole 10/9/16 7th hole 22/2/17and Lake Karrinyup Golf Clubs. Kooyonga won the event in Adam Bower Andrew Porplyciaconvincing style and great feedback about the Club and 3rd hole 29/10/16 7th hole 25/3/17course was received from all participants. Events such Grant Laidlawas the MAKK Cup are very important for our reciprocal 7th hole 21/11/16agreements and provide great camaraderie between the Quentin Gowerclubs. 3rd hole 21/12/16In the competitive Kingston Heath Challenges, the Men Barb Burnetdefeated Kingston Heath at Kooyonga in March 2017. The 7th hole 23/12/16women’s event was played at Kingston Heath in October Robert Fidock2016 and Kooyonga unfortunately were defeated by a 3rd hole 7/1/17strong Kingston Heath team. The events were enjoyed byall players.Three Kooyonga members have been recently selectedin a South Australian State Golf Team. Congratulations toKyle Hayter for being named in the 2017 South AustralianJunior Boys Team and to Joe Hodgson & Will Somerfieldfor making the 2017 SA Men’s State Team. It is great tosee Kooyonga members representing the Club at stateand national levels.Annual Report 2016/17 Page 16

Annual Report of the Committee Women’s GolfAs at 31 March 2017 we have 248 playing female members Our field sizes on a Saturday average just 9 members, butincluding 217 Category 2 and 19 Category 1 members. has reached as many as 16 players at times. We run summerIn total, our playing membership has declined by 4 and winter medal and eclectic competitions as well ascompared to the same time last year. As is mentioned in the a Salver event which is run over two weeks in March. Wemembership report, we have an ageing female membership would ideally love to see more female members join our(average age of 63) and only 13 female members Saturday field and encourage you to upgrade to Category 1under the age of 50 (excluding juniors) so the Women’s membership to provide you will full playing rights.Committee is working closely with the management team From 26-28 October, a team of 20 enthusiastic womenand General Committee to develop strategies to address played at Kingston Heath to defend the Kingston Heath/our membership decline and attract younger members. Kooyonga Women’s Challenge Bowl. This is a very popularInitiatives include the running of regular Swing Fit clinics, event for our women members and teams from both clubsthe promotion of the ‘Pathway to Membership’ option and a enjoy the wonderful camaraderie experienced at this annualbuddy system to encourage and help integrate new female event. Whilst Kingston Heath took out the Bowl with 390 tomembers into the membership. 366 points, we congratulate our new team member AmandaThe female members of Kooyonga have enjoyed a full MacKenzie who claimed the Kooyies 20 trophy, with a totalcalendar of events over the last 12 months, with a vibrant of 70 points, on a countback from Ann Ewer.field of 100 in our regular Tuesday competitions when Our twice yearly interclub matches against Grange, Royalthe weather is good. A rich program provides many Adelaide and Glenelg continue to be a valued tradition toopportunities for golfers of various abilities and at various support friendship between our clubs and players.stages of their golf to play in our fields. The option for C We encourage all female members who are not activelyGrade golfers to play Stableford during Stroke rounds off involved to book a round and enjoy the golfing experiencethe gold tees has proved popular as has our weekly 9 hole and camaraderie of other Kooyonga members.competition. In February 2017 we ran a trial where the 9hole golfers had the option of playing early off the 10th teeto avoid the heat. This trial was well supported and will beoffered again in the future.Life Member, Ann SaundersAt the Annual General Meeting held on Thursday 9 June 2016, AnnSaunders was granted Life Membership. Nominated by Sally Sarah,Ann had qualified in every way, having been a selfless contributor toState, Club and junior golf.Ann has mentored many, been financially generous, held positions ofresponsibility and played solid golf for teams and individually.She is a popular member of the Club, has been a sought afterfoursomes partner and has participated at an elite level. Mostimportantly, Ann has given more than she has taken from golf.Through her leadership and support of junior girl’s golf, she is knownand respected by players, parents and clubs throughout SouthAustralia.Ann continues to champion good sportsmanship, protocols andenjoyment in golf.Pictured right: Grant Raymond presenting Ann Saunders with herLife Member certificate. Annual Report 2016/17 Page 17

Annual Report of the CommitteeCompetition ResultsMen’s Competition ResultsState Events Winner Runner-UpSimpson Cup Glenelg GrangeBonnar Cup Grange GlenelgSharp Cup Glenelg Country DistrictsClub Events Winner Runner-UpClub Championship Will Somerfield Sam InglisWS Shephard Club Medallist Geoff Brennan Joseph Hodgson‘A’ Grade Plate Bruce Lindner Dean Willing‘B’ Grade Trophy Mij Looker Rowan Fielke‘B’ Grade Plate Rob Parish Philip Laity‘C’ Grade Trophy Carrol Reynolds Jack Speirs‘C’ Grade Plate Greg Hayes Ajit BediClub Senior Championship Bruce Lindner Gary O’LoughlinClub Senior Handicap Trevor Dolman James WadeClub Foursomes Championship Will Somerfield & Sam Inglis Heath Riches & Nick DeutromClub Foursomes Handicap Mal Rosman & Rohan Rosman Alex Gray & Craig MasonClub Junior Championship Joe Hodgson Kyle HayterClub Junior Handicap Ned Looker Jake EadieMonthly Medals A: Tim Baker, Adam Bower, Luke Richards, Ryan Sparrow, Brett Morkunas, Marcus Breach, Bruce Linder (3), Rick Woollard, Peter Marshall, Jake Eadie B: Angas Hains, Rob Brice, Rowan Fielke, Kym Lawrence, Guy White, Ivan Deed, Bill Blunden, Harry Simpson, Graeme Smith, Matt Illman, John Whiting, Rowan Fielke C: Tom Hunter, Theo Kruys, Bernie Kavanagh, Geoff Bell, Tony Richards, David Christensen, Carrol Reynolds (2), Andrew Boden, Garry Johns, Jeff Rogers, Mal RosmanJunior Summer Trophy Lachlan Barker (Glenelg) Harrison Crowe (St Michaels, NSW)HL Rymill ChampionshipKooyonga Cup Frank Vucic (Glenelg) Sam Earl (Glenelg)Bonython MedalPlayfair Putter Marcus Breach Sam AtkinsTH Brown TrophyJW McGregor Cup Adam Bower Geordie GoldingCaptain’s TrophyAnzac Cup Heath Riches Joe HodgsonAnzac MemorialFather & Son Cup Peter Marshall Mark MittonFS Mann Winter Eclectic Bruce Lindner Peter HoffmannSummer Eclectic John Christensen Peter Hoffmann Bob Babidge Jeff Rogers Darren Burns Vin Brazier Tim Simpson & Harry Simpson Markus Klaveniek & Tom Klaveniek A - Ian McDowall A - Bevan O’Connor B - Ken Ballantyne B - Rob Brice C - Randall Clapp C - Philip Michael A - Tony Timmins & Luke Richards (Joint winners) B - Greg Stirling B - Dean Hatwell C - Adam D’Achille C - Sav McGillWinter Four-Ball Trevor Dolman & Bernie Bowler Robert Fidock & Brent KitsonSummer Four-Ball Alistair Flynn & Nick Yorston John Solly & Robert McCabeAnnual Report 2016/17 Page 18

Annual Report of the Committee Competition ResultsMixed Competition ResultsClub Events Winner Runner-UpRS Thomson Mitch Trenorden & Jill Trenorden David Raggatt & Helen BerryFather & Daughter Dave Terrell & Bella Cahill-Terrell Leigh Jerram & Alyssa JerramMother & Son Gill Hicks & Sam Hicks Louise Bowler & Paddy BowlerFamily Mixed Foursome Jodie Deacon & Mark Deacon Graeme Smith & Lesley SmithClub Mixed Foursomes Championship Heath Riches & Bella Cahill-Terrell Robert Fidock & Lisa BrienHandicap Foursomes Richard Fleming & Ella Fleming Alistair Flynn & Christine FlynnMixed Four-Ball Scott MacKenzie & Amanda MacKenzie Deb Percey & James PerceyWomen’s Competition ResultsState Events Winner Runner-UpWomen’s A1 Pennant Grange KooyongaWomen’s A2 Pennant The Vines Royal AdelaideWomen’s A3 Pennant Royal Adelaide KooyongaWomen’s Cleek 1 Royal Adelaide West LakesClub Events Winner Runner-UpClub Championship Lisa Brien Jodie Deacon‘A’ Grade Plate Jude Marlow Skye JarvisBronze Cup Karen Chenoweth Nol Parkyn‘B’ Grade Plate Wendy Monfries Melissa EmmettC Grade Salver Sally Gamble Anne BrownRoss Sawers Championship Jodie Deacon & Deb Percey Jodie Pyke & Louise PittmanBantick Salver Nol Parkyn & Angela Fleming Louise Bowler & Mary BeamondOlive Griggs Cup Sue Terrell & Jan Harris Heather Sawyer & Wendy HaynesVice Captain’s Foursomes Jane Hunter & Pam Marshall Jan Marriott & Dorothy PatersonClub Junior Championship Bella Cahill-Terrell Maddie FitzpatrickJunior Girls’ Invitational Amy Chu (The Australian, NSW) Amelia Garvey (Kaiapoi, NZ)Captain’s Trophy Barb Burnet Skye JarvisPresident’s Trophy Sandy Robinson Louise BowlerMonthly Medals A: Melissa Nelligan, Christine Flynn, Jodie Deacon, Pam Marshall, Jane Hunter, Ros BrownSaturday Summer Medal B: Jill Phillips, Amanda MacKenzie (2), Anne Brown, Nol Parkyn, Helen NitschkeSaturday Winter MedalValerie Hill Trophy C: Cris Pollard, Pam Hall, Pauline Nietz, Mary Hammer, Lesley Smith (2) Bella Cahill-Terrell Linda Ferris Melissa Nelligan Dorothy Paterson Annual Report 2016/17 Page 19

Annual Report of the CommitteeMembershipLife Male 2015/16 Total Male 2016/17 TotalHonorary Membership 4 Female 7 4 Female 8Category One 1 3 2 1 4 2Category Two 564 1 577 549 1 568Absent 87 13 313 103 19 320Clergy 156 226 197 155 217 196Country 4 41 4 5 41 5Honorary Social 24 0 27 22 0 24Interstate 88 3 154 97 2 164Junior 26 66 31 25 67 30Junior Cadet 47 5 51 43 5 51Junior Country 12 4 13 10 8 14Junior Ambassador 3 1 3 2 4 2Overseas 0 0 4 4 0 8Reciprocal 33 4 37 35 4 39Senior 1 4 1 1 4 1Social 18 0 21 15 0 19Temporary 2 3 2 1 4 2Under 30 (21-25) 42 0 52 38 1 47Under 30 (26-30) 33 10 33 28 9 28Veteran 14 0 14 11 0 11Veteran 50 Years 2 0 2 2 0 2Veteran Associate 1 0 1 1 0 1 0 0 3 0 0 1 1162 3 1549 1152 1 1543 387 391Our total membership numbers have declined very In early 2016 the Committee developed temporary ‘Pathway to slightly from 1549 to 1543 over the last 12 months. Membership’ and ‘Family’ Programs to offer potential membersA total of 66 playing members either resigned or the opportunity to join Kooyonga for a fixed 12 month period.transferred to a non-playing category in 2016/17, an The aim of the program is to help provide a future pipeline ofattrition rate of 6%. This compares favorably to the members and we encourage members to recommend this offerprevious year when attrition was slightly higher at 6.5%. to family and friends. In total, we inducted 15 new temporaryTo offset this reduction we inducted 55 new playing pathway and family members during the year, including 12members to the Club in 2016/17 compared to 51 in the males and 3 females who are either new to the game or unsure2015/16 year. of their commitment to golf and membership of Kooyonga.While our male playing categories remain at capacity, the Success of the program will primarily be based on the numberoverall reduction of 11 playing members is a result of our and percentage that choose to upgrade to full playinginability to replace female members who resign or transfer to memberships following completion of the 12 month temporarya non-playing category. This is a concern for Committee with membership.an ageing female membership (average age of 63) and only 13 After closely analysing data on rounds of golf at Kooyonga asfemale members under the age of 50 (excluding juniors). We well as daily competition field sizes and speed of play reportsare working closely with the Women’s Committee to further over the last 12 months, the Committee decided to reducedevelop programs to attract younger female members and a the quota for Category 1 members from 575 to 550 for thebuddy system to encourage and help integrate them into the 2017/18 financial year. This reduction is primarily aimed atmembership. reducing the average field size on a Saturday to improve playerAnnual Report 2016/17 Page 20

Annual Report of the Committee Membershipcomfort, flow around the golf course and speed Welcome to New Members in 2016/17of play. As a result, those members in Category 2seeking an upgrade to Category 1 will likely wait a April 2016further 12 months before being offered such an Mr JS Anderson, Mr A Brett, Mr MS Davey, Ms H Papas, Mr KJ Parker,upgrade. Mr RA Shekle, Mr D Tuke, Mr GW WaterhouseThe percentage of subscription fees paid by May 2016Category 2 members was increased from 78% Mr B Norman, Mrs D Normanto 80% from 1 April 2017 to better reflect the June 2016playing rights and privileges of this membership Dr A Bendyk, Mr AH Chisholmcategory in comparison to Category 1 members. July 2016The Committee will continue to assess subscription Mr C Atsikbasis, Mr DAC Brown, Mr SM Bushby, Mr C George,fees across the Club as well as the fee percentages Mr AG Greven, Mr M Harkotsikas, Mrs S Lutterus, Mr C Renner,to ensure they reflect value for privileges and Mr BM Semple, Mr J Wadeprovide an appropriate level of income for the August 2016Club to remain financially strong and generate Mr D Anson, Mrs JL Di lorio, Mr DM Di lorio, Mr G Giotis, Miss OR Giotis,appropriate levels of annual cash flow to provide Miss EA Giotis, Mr J Irving, Mr A Kennedyservices and facilities of the highest standard and September 2016the ability to fund critical infrastructure projects to Mr T Dolling, Mrs ZM Dolling, Mr S Hammond, Mr WJ Hards,maintain the competitiveness and attractiveness of Ms JA Hards, Miss TK Hards, Mr A Irving, Mr M Karp, Mr JM Kipriz,the Club. Mr MG Kipriz, Mr T SchultzFor the Club to remain at the forefront of the golf October 2016industry, it needs a strong and healthy waiting list Mr SA Kroehn, Mr G Last, Mr R Li, Mrs MW Pavy, Mr PA Pavyof people ready to join the Club, providing vital December 2016entrance fees and confidence for the Committee Mr TM Angel, Mr SB Davies, Mr H Davison, Mr WP Last, Mrs C Podsiadly,to invest in key projects for the benefit of current Mr J Podsiadly, Mr D Salamon, Mr MS Wakeand future members. January 2017All members can assist by acting as ‘ambassadors’ Mr ET Godfrey, Mr D Lipman, Mr A Payze, Mr J Saunders, Miss Eand actively promoting the benefits of membership Saunders, Miss LA Trenorden, Mr S Van der Leeuw, Ms MA Wylesto prospective members. In addition, we have February 2017recently engaged a production company to Mr GJ Challis, Mr BJ Ellbournproduce a high quality video to help promote the March 2017Club and facilities to prospective members which Mr KR Barnard, Mr NJ Conolan, Mr M Fabig, Mr KJ Phelps,will be posted on the Club website and can be Mr J Pritcharddistributed with other Club information on a USBto those enquiring about membership. The video Valewill incorporate footage from a recent drone flyover video captured using the services of Club It is with deep regret that we record the deathsmember, Sean Steed. The hole by hole footage with during the year of the following members;commentary provided by Fox Sports commentatorLuke Elvy is soon to be uploaded on a new website Mr PS Ambrose, Prof N Antic, Dr RW Beal AM,to be launched mid-year. Mrs MH Brown, Mr DA Crowhurst, Mr IW Giles, Mr JT Gun, Mr MH Klinberg, Mrs SK Langley, Dr RC Matthews, Mrs LC Minney, Mr JM Noblett, Mr NK Sawers, Mr HF Shier, Dr TM Stevenson, Mr RL Wasley Annual Report 2016/17 Page 21

Annual Report of the CommitteeStaff & AdministrationSince the last Annual General Meeting our senior being analysed and will be benchmarked against previous management team has remained stable. Brett Lewis surveys conducted to ascertain areas of improvement orhas completed his second year as General Manager of the decline in certain areas of the Club operations. A detailed reportClub and provides excellent support to the Committee. will be published for member information and an overview ofSteven Newell (Course Superintendent) has continued to results will be provided at the Annual General Meeting. Thepresent the course in wonderful condition throughout the below graph shows the overall satisfaction of each operationalyear while completing a number of projects on course. His area in comparison to previous surveys completed as a highleadership, experience and ability to consistently prepare the level overview of the results.course to the highest standard is the envy of Clubs across IT & Website UpgradeAustralia. Anna Fontaine (Clubhouse Operations Manager) An important project to be launched on 1 July 2017 is thehas overseen a vast improvement in the house operations implementation of a new membership, accounting and point ofduring her 12 months with the Club and Susie Mathews (Golf sale system for the Club. This is a major overhaul of the Club’sOperations Manager) continues to excell as her responsibilities IT system, which will integrate the vast majority of our softwarehave continued to expand over recent years. Each of the senior into one dedicated and golf specific software package usedmanagement team has a strong work ethic and are dedicated in more than 500 clubs in the USA and internationally. Theand focused on success for Kooyonga. software programme has recently been introduced to AustraliaBehind each of the senior managers, we are extremely and has already been installed at a number of reciprocal Clubsfortunate to employ a skilled team of staff who are committed including NSW Golf Club, Metropolitan Golf Club and Royalto present the course and member services at the highest Auckland Golf Club while The National Golf Club are in thepossible level. It has been another extremely busy year, and our process of installing the software as I write this report. Whileteam continually strives to exceed member expectations. a number of benefits are at the back end in administration,I wish to acknowledge and thank the following staff for their members will experience improved speed of service andtireless efforts: efficiency across the Club. We plan to introduce a cashless system with member charges to be posted to individual • Brett Lewis and the administration team member house accounts. Over the next few months, we will • Steven Newell and the course staff distribute documentation to each member that will explain • Anna Fontaine and the hospitality staff the benefits of the new system and the automatic direct debit • Peter Milosovic and the kitchen team arrangements that we encourage you to set up. • Susie Mathews and the golf operations team A new Club website with improved navigation and a fresh lookMember Survey and feel will coincide with the new software to complete theIn early 2017 we conducted a comprehensive member survey overhaul of our IT system.to better understand current views of the membership and A change of this magnitude is complex and never easy, soidentify areas of the Club that require attention. We sincerely please be patient and understanding with staff as they becomethank the 441 members who took the time to respond to the familiar with the setup and features of the new software.survey and provided valuable feedback. The results are stillAnnual Report 2016/17 Page 22

Annual Report of the CommitteeVolunteers, Archives, Elections, Committee, ConclusionVolunteers Mrs Jude Marlow continue in their roles as Women’s Captain and Women’s Vice-Captain respectively.There are many members of the Club who volunteer theirtime, professional services and experience during the year for Committeevarious reasons and I take this opportunity to thank them fortheir efforts. Such support is always greatly appreciated and in My sincere thanks to all Committee members who havemid-December 2016 we invited these members to a special contributed a significant amount of their time and effort tomember recognition evening to officially acknowledge their help run our Club over the last 12 months and during my termcontributions. This was a new initiative which was well received as Club Captain. I have appreciated everyone’s input andand will become an annual event for the Club. The extent of teamwork throughout the year as we have carefully consideredvolunteerism highlights the level of spirit and camaraderie of and debated key decisions for the Club. It has been a pleasureour great Club and no doubt this will be on full display during and privilege to work with such a committed group of members.the Women’s Australian Open at Kooyonga in February 2018. The focus has at all times been on doing the best for the Club and its members.Archives The efforts of the Kooyonga Foundation Committee led by Chairman Dr Walford Thyer are greatly appreciated inThank you to Club Archivists Mr Bill Johnson & Mr Grant Laidlaw particular, their fundraising and decision to fund the Kooyongawho meet at the Club each Thursday morning and research Foundation Golf Academy.matters of historical importance for the Club while chatting Committee has determined that Dr Ken Russell shall be theover a cup of coffee about all things Kooyonga. As well as Kooyonga Captain for the next two years. Ken is an experiencedpublishing various articles during the year the pair are carefully leader as a former President and Chairman of Central Districtsreviewing and cataloguing key decisions and events in the Football Club for 10 years between 1991 and 2002. He is wellClub’s history in preparation for the writing of a history book qualified for this position after 6 years on Committee and isto be published to co-inside with the Centenary of the Club in current Chairman of our Finance and Membership Committee.2023. This significant milestone will be a key project for the I know the Club will be in good hands under his leadership andClub over the coming years and will require additional volunteer I ‘pass the baton‘ with my best wishes for Kooyonga’s future.assistance. If you are interested in being involved please Mr Terry Anderson will be the incoming Vice–Captain aftercontact Brett Lewis for more information and to register your previously serving on Committee for 4 years between 2012 andinterest. 2016, including as Chair of Course.Elections and Office Bearers ConclusionAt the 2016 Annual General Meeting, Mr Tony Timmins was Kooyonga in recent years has developed and promoted tore-elected as a member of Committee for a two year term while members a 5 Year Strategic Plan, a rolling 5 Year CourseMrs Deborah Alexander, Mr Crawford Giles and Dr Angas Hains Plan and completed an extensive Landscape Enhancementwere elected onto the General Committee for the first time. Plan. The Clubhouse Masterplan is nearing completion forI formally acknowledge past Committee members Mr Terry member feedback and will provide a sound basis for furtherAnderson and Mr Geoff Kay who were unsuccessful in being development of member services. The emphasis during myre-elected. Captaincy has been on providing to members a clear pathwayAt the last Annual General Meeting we bid farewell to past ahead for the Club through good governance, strategy and riskCommittee member Mr John Harvey who retired from his role management. A key focus has been improving the membershipon Committee after serving the maximum 8 years of service experience.on Committee. John provided strong financial guidance and I thank members for understanding and accepting the ongoingexperience as Chairman of Finance over many years. renewal and changes again over the last 12 months. Our GolfI take this opportunity to congratulate Mr Tony Timmins who Shop/Academy services and House offering continue to evolve.was elected as Chairman of Golf SA in October 2016. We It has been an honour to lead the Club as its Captain. I haveare extremely fortunate that Tony is able to keep Committee every confidence in the Club’s leadership team to continue toabreast of matters being considered by Golf SA and Golf maintain Kooyonga’s position at the forefront of the golfingAustralia. industry in Australia.At the Women’s Annual Meeting on 25 October, Mrs JanMarriott and Mrs Gill Hicks were elected to their roles as Dr Grant RaymondWomen’s President and Vice-President respectively. A huge Captainthank you to Mrs Skye Jarvis who completed her term asWomen’s President at this meeting. She made a significantcontribution to women’s golf at Kooyonga during her termand was a valuable member of the Finance & Membershipand House Sub-Committees. Mrs Merry Frogley and Annual Report 2016/17 Page 23

Financial ReportFor the Year Ended31 March 2017

Content of Financial Statements Statement of Comprehensive Income 26 Statement of Financial Position 30 Statement of Changes in Equity 31 Statement of Cash Flows 32 Notes to and Forming Part of the Accounts 33 Statement by the Committee 42 Audit Report 43 Five Year Summary 45

Statement of Comprehensive IncomeFor year ended 31 March 2017Classification of Income and Expenses is by Function 2017 2016 $ $ Note 3,011,914 2,859,558Income 17,359 16,741Memberships 3,029,273 2,876,299 Subscriptions Other (45,705) 68,383 126,279 119,742House Contributions (as per supplementary information)Golf Shop Operations Contributions (as per supplementary information) 171,193 182,140 21,057 27,855Other Income 15,288 Trade days income 3,378 10,716 Bank income 9,206 Profit on sale of plant & equipment 204,834 235,999 Other income 3,314,681 3,300,423Total IncomeExpenses (as per supplementary information) (22,052) (19,226) (881,832) (863,830)Finance expenditure (1,775,339) (1,695,241)Administration expenditure (754,994) (743,080)Course expenditure (3,434,217) (3,321,377)House expenditure (119,536) (20,953)Operating surplus/(deficit) before Entrance Fees 246,737 261,276Entrance Fees 127,201 240,323Total Surplus/(Deficit) for YearAmounts Received by Kooyonga Foundation for Golf Academy 475,000 -Total Comprehensive Income 602,201 240,323The accompanying notes form part of the financial statementsAnnual Report 2016/17 Page 26 Page 2

Statement of Comprehensive IncomeTHE KOOYONGA GOLF CLUB INCORPORATED For year ended 31 March 2017 (supplementary information)STATEMENT OF COMPREHENSIVE INCOMEFOR THE YEAR ENDED 31 MARCH 2017House ContributionBar Sales 2017 2016 Less: Cost of Sales $ $ Gross Profit (2017: 61%, 2016: 60%) 696,157 680,396 (271,440) (270,415) 424,717 409,981Food Sales 839,235 856,983 Less: Cost of Sales (409,496) (354,102) Gross Profit (2017: 51%, 2016: 59%) 429,739 502,881Other Income 19,978 21,410Total Trading Gross Profit 874,434 934,272Less: (949,966) (901,680) Salaries and associated costs (10,419) (7,253) Other direct expenses (960,385) (908,933)Profit/(loss) for the year (85,951) 25,338Add: Unused catering levy 40,246 43,045Total House Contribution (45,705) 68,383 Page 3The accompanying notes form part of the financial statements Annual Report 2016/17 Page 27

Statement of Comprehensive IncomeFor year ended 31 March 2017(sTHuEpKOpOYleONmGAeGOnLtFaCLrUyB IiNnCOfRoPrOmRATaEDtion) STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 MARCH 2017Golf Shop Operations Contribution 2017 2016 $ $ Retail Sales Less: Cost of Sales 507,095 284,062 Gross Profit (2017: 31%, 2016: 34%) (348,886) (187,888) 158,209Other Golf Operations Income 96,174 Tuition (net) 29,873 Driving Range 53,842 15,767 Hire Equipment 39,588 Club & Buggy Handling & Cleaning Fees 9,479 Competition Fees 78,602 7,172 Green Fees 173,974 59,165 Motorised Cart Fees 251,252 142,836 Pro-am (net) 76,967 237,766 71,040Total Trading Gross Profit - 4,449Less Golf Operations Expenditure 832,198 Buggy Expenses 673,957 Depreciation (20,225) Driving Range (38,666) (10,328) Other (13,182) (28,034) Pennant Expenses (33,495) (10,426) Professional Retainer (26,859) (31,163) Promotion & Communication (21,724) Repairs and Maintenance - (31,689) Salaries & Associated Costs (15,133) (19,114) Trophies & Prizes (823) (4,409) (430,946) (285,326) (126,589) (112,002) (705,919) (554,215)Total Golf Shop Operations Contribution 126,279 119,742 Page 3The accompanying notes form part of the financial statements Annual Report 2016/17 Page 28

Statement of Comprehensive IncomeTHE KOOYONGA GOLF CLUB INCORPORATED For year ended 31 March 2017 (supplementary information)STATEMENT OF COMPREHENSIVE INCOMEFOR THE YEAR ENDED 31 MARCH 2017Course Expenditure: 2017 2016 Bore maintenance & water costs $ $ Chemicals, turf & sundry expenses Consultants fees 88,983 103,143 Course maintenance 182,289 186,972 Depreciation Petrol, oil & lubricants 6,959 13,051 Plant maintenance 43,924 39,291 Vegetation & Tree Maintenance 355,488 330,624 Wages & associated costs 24,308 22,483 57,943 58,174 38,134 11,940 977,311 929,563 1,775,339 1,695,241House Expenditure: 390,757 379,256 Depreciation 92,320 87,059 Cleaning 55,878 72,450 Maintenance 68,685 70,469 Light, power & gas 28,192 30,479 Laundry 33,028 35,237 Upkeep of Surrounds 86,134 68,129 Other 754,994 743,080Administration Costs: 2 9,500 10,400 Auditors remuneration Committee expenses 16,184 17,057 Computer software & website expenses Insurance premiums and claim expenses 27,943 26,858 Printing, stationery, postage & telephone Rates & Taxes 35,115 38,899 Salaries & associated costs Membership Promotional & Marketing Expenses 32,616 33,560 Other 105,270 93,855 526,003 523,503 21,792 23,584 107,409 96,114 881,832 863,830Finance & Property Expenses: 22,052 19,226 Interest & bank fees 22,052 19,226 Page 3The accompanying notes form part of the financial statements Annual Report 2016/17 Page 29

Statement of Financial PositionAs at 31 March 2017 Note 2017 2016 $ $Current Assets 3 2,191,583 2,149,444 Cash & cash equivalents 4 113,744 61,639 Trade & other receivables Inventories 5 242,962 199,168 Other current assets 6 142,051 129,267Total Current Assets 2,690,340 2,539,518Non-Current Assets 7 8,426,884 7,975,679 Property, plant and equipment Capital works in progress 8 123,898 64,492Total Non-Current Assets 8,550,781 8,040,170Total Assets 11,241,121 10,579,688Current Liabilities 9 681,028 590,639 Trade & other payables 10 2,055,952 2,189,127 Other current liabilities Short term provisions 11 305,234 237,923Total Current Liabilities 3,042,214 3,017,689Non-Current Liabilities 11 46,771 12,064 Long term provisions 46,771 12,064Total Non-Current Liabilities 3,088,985 3,029,753Total Liabilities 8,152,136 7,549,935Net Assets 8,152,136 7,549,935 8,152,136 7,549,935Equity Retained earningsTotal EquityThe accompanying notes form part of the financial statementsAnnual Report 2016/17 Page 30 Page 5

Statement of Changes in Equity For the year ended 31 March 2017 Retained Total Earnings $ $2016 7,309,612 7,309,612 240,323 240,323Balance as at 1 April 2015Total surplus (deficit) for the year 7,549,935 7,549,935Balance as at 31 March 2016 7,549,935 7,549,9352017 602,201 602,201Balance as at 1 April 2016 8,152,136 8,152,136Total surplus (deficit) for the yearBalance as at 31 March 2017The accompanying notes form part of the financial statements Annual Report 2016/17 Page 31 Page 6

Statement of Cash Flows Note 2017 2016 $ $For year ended 31 March 2017 5,874,043 5,449,140Cash Flows from Operating Activities 246,737 261,277Receipts from customers/members (5,238,211) (4,809,330)Entrance fees (4) (254)Payments to suppliers & employeesInterest paid 21,057 27,855Interest receivedNet cash provided by (used in) operating activities 12 903,622 928,688Cash Flows from Operating Activities (1,347,428) (609,985) (59,407) (23,322)Payments for purchase of property, plant & equipment 70,352 14,257Payments for capital work in progress 475,000 -Proceeds from sale of property, plant & equipmentAmounts received for new assets (861,483) (619,050)Net cash provided by (used in) investing activitiesNet increase/(decrease) in cash held 42,139 309,638Cash at beginning of the yearCash at end of the year 2,149,444 1,839,806 3 2,191,583 2,149,444The accompanying notes form part of the financial statementsAnnual Report 2016/17 Page 32 Page 7

Notes to and Forming Part of the AccountsTHE KOOYONGA GOLF CLUB ForINCORPORATED the year ended 31 March 2017NOTES TO AND FORMING PART OF THE ACCOUNTSFOR THE YEAR ENDED 31 MARCH 2017Note 1 - Statement of Significant Accounting PoliciesThe financial report is a general purpose financial report that has been prepared in accordance with Accounting StandardsAustralian Accounting Interpretations, other authoritative pronouncements of the Australian Accounting Standards Board and therequirements of the Associations Incorporation Act of 1985 (SA).The financial report of Kooyonga Golf Club Inc complies with all Australian equivalents to International Financial ReportingStandards (IFRS) in their entirety.Basis of PreparationThe financial report has been prepared on an accruals basis and is based on historical costs and does not take into accountchanging money values or, except where stated, current valuations of non-current assets. Cost is based on the fair values of theconsideration given in the exchange for assets. Unless otherwise stated, the accounting policies adopted are consistent with thoseof the previous year.The following is a summary of the material accounting policies adopted by the entity in preparation of the financial report. Theaccounting policies have been consistently applied unless otherwise stated.a) Recognition of Revenue The Club records entrance fees as a non-operating revenue rather than as an item of operating revenue in the income statement.b) Income Tax The Club is exempt from income tax under Section 23(g)(iii) of the Income Tax Assessment Act . Therefore no tax has been provided in the accounts.c) Inventories Inventories are measured at the lower of cost and net realisable value.d) Property, Plant and Equipment Each class of property, plant and equipment is carried at cost less, where applicable, any accumulated depreciation and impairment losses. Property Freehold land is shown at cost. Building is shown at cost less any accumulated depreciation and impairment losses. Plant and Equipment Plant and equipment are measured on the cost basis less depreciation and impairment losses. Depreciation The depreciable amount of all fixed assets including buildings, but excluding freehold land, is depreciated on a straight line basis over their useful lives to the Club commencing from the time the asset is held ready for use. The depreciation rates for each class of depreciable assets are:Page 8 Annual Report 2016/17 Page 33

Notes to and Forming Part of the AccountsFor year ended 31 March 2017THE KOOYONGA GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2017Note 1 - Statement of Significant Accounting Policies (cont)Depreciation (cont.) Useful LivesCategory 5%Buildings- Brick & Stone 10%- Wood & Iron 10%Course developmentWatering system 4%Bores 5%Plant & equipment 10 -20%Computer equipment 30%Impairment of AssetsAt each reporting date, the Committee reviews the carrying values of its assets to determine whether there is any indicationthat those assets have been impaired. If such an indication exists, the recoverable amount of the asset, being the higher ofthe 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'scarrying value over its recoverable amount is expensed to the income statement. Where it is not possible to determine recoverable amount of an individual asset, the Committee estimates the recoverable amount of the cash-generating unit to which the asset belongs.e) Employee Benefits Provision is made for the Club's liability for employee benefits arising from services rendered by employees to balance date. Employee benefits expected to be settled within one year together with benefits arising from salaries and wages, annual leave and sick leave which will be settled after one year, have been measured at their nominal amount. Other employee benefits payable later than one year have been measured at the present value of the estimated future cash outflows to be made for those benefits. In determining the liability for employee entitlements to long service leave the Club has satisfied itself that based on past experience, the accrual of the Club's long service leave liability based on remuneration rates and on costs current at balance date for all employees with five or more completed years of service provides an estimate of the long service leave liability notTHE KmOatOeYriaOllNy dGifAfeGreOntLfFroCmLtUheBeIsNtiCmOatRePdOetReArmTiEneDd using the present value basis of measurement.Nf)OTEGSooTdOsAanNdDsFerOvRicMesINtaGxP(GASRTT) OF THE ACCOUNTSFOR TRHevEenYuEeAs,RexEpeNnDseEsDan3d1 aMssAeRtsCaHre2r0ec1o7gnised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian Taxation Office. In these circumstances the GST is recognised as part of the cost ofNotaaerceq1ushisoi-twionSninotcfaltuthseeivamesosfeetGnoSrTta. sopfartSofiagnniteifmicofathnetexApecnsce.oRuecneivtaibnlegs anPdopalyiacbileessin t(hceoStnatte)ment of Financial Positiong) Cash and Cash Equivalents Cash and cash equivalents include cash on hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within short-term borrowings in current liabilities on the balance sheet.h) Comparative FiguresWhen required by Accounting Standards, comparative figures have been adjusted to conform to changes in presentation forthe current financial year. Certain comparative figures have been restated where necessary to conform with current periodpresentation. Page 9Annual Report 2016/17 Page 34

Notes to and Forming Part of the AccountsTHE KOOYONGA GOLF CLUB ForINCORPORATED the year ended 31 March 2017NOTES TO AND FORMING PART OF THE ACCOUNTSFOR THE YEAR ENDED 31 MARCH 2017 2017 2016 $ $Note 2 - Auditors' Remuneration 7,500 7,500 2,000 2,900Remuneration of the auditor for: 9,500 10,400- auditing or reviewing the financial report- other accounting service 4,000 4,000 2,187,583 1,145,444Note 3 - Cash and Equivalents 1,000,000 - 2,149,444Cash on hand 2,191,583Cash at bankShort term deposits 113,744 61,639 - -Note 4 - Trade and Other Receivables 113,744 61,639Trade receivablesLess: Provision for impairment of receivables 52,957 44,227 19,269 17,368Note 5 - Inventories 169,160 135,989Stock - Bar 1,576 1,584Stock - Dining Room 242,962 199,168Stock - Golf ShopStock - Golf Score Cards 140,641 126,275 - 1,500Note 6 - Other Current Assets 1,410 1,492PrepaymentsInsurance Claim Outstanding 142,051 129,267OtherPage 11 Annual Report 2016/17 Page 35

Notes to and Forming Part of the AccountsFor year ended 31 MarchTHE KOOYONGA GOLF CLUB INCORPORATED 2017 NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2017 2017 2016 $ $Note 7 - Property, Plant and EquipmentFreehold land & buildings (at cost) 7,428,609 6,847,992Less: Accumulated depreciation (2,143,086) (1,811,689) 5,285,523 5,036,303Course development (at cost)Less: Accumulated depreciation 1,696,835 1,433,128 (739,848) (599,071)Watering equipment (at cost) 956,987 834,057Less: Accumulated depreciation 1,654,693 1,559,850Course building, plant & equipment (at cost) (1,069,361) (988,849)Less: Accumulated depreciation 585,332 571,001Furniture, fittings & equipment (at cost)Less: Accumulated depreciation 2,588,009 2,478,631 (1,465,265) (1,317,459)Golf Shop Equipment & Buggies (at cost) 1,122,744 1,161,172Less: Accumulated depreciation 907,144 833,511Total property, plant and equipment (668,108) (608,748) 239,036 224,763 297,317 226,812 (60,056) (78,429) 237,261 148,382 8,426,884 7,975,679Note 7(a) -Movement in Carrying Amounts Land & Course Watering Course P&E Furniture & Golf Shop Equip Buildings Develop Equip & Buildings Fittings & Buggies Total $ $ $ $ $$ $ 5,036,303Balance at beginning of 580,617 834,057 571,001 1,161,172 224,763 148,382 7,975,679the year - 263,708 94,843 141,580 73,633 193,047 1,347,428 (331,397) (1,472) - (65,502)Additions - - (178,536) (59,360) (38,666) (66,974) (140,778) (80,512) (829,249)DisposalsDepreciation expenseCarrying amount at the 5,285,523 956,987 585,332 1,122,744 239,036 237,261 8,426,884end of the year Page 12Annual Report 2016/17 Page 36

Notes to and Forming Part of the AccountsTHE KOOYONGA GOLF CLUB ForINCORPORATED the year ended 31 March 2017NOTES TO AND FORMING PART OF THE ACCOUNTSFOR THE YEAR ENDED 31 MARCH 2017 2017 2016 $ $Note 8 - Capital Work in Progress 64,346 60,412 41,094 -Kooyonga Foundation Golf Academy 18,4585 year plan course works 123,898 4,080Other 64,492Note 9 - Trade and Other Payables 498,710 494,689 182,318 95,950Current 681,028Trade payables 590,639Sundry payables and accrued expenses 184,066 184,936Note 10 - Other Liabilities 1,736,205 1,838,335Dining room levies in advance 135,681 165,856Subscriptions in advance 2,055,952 2,189,127Other monies in advancePage 11 Annual Report 2016/17 Page 37

Notes to and Forming Part of the AccountsFor the year ended 31 MarchTHE KOOYONGA GOLF CLUB INCORPORATED 2017 NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2017 Long Service Annual Leave Leave TotalNote 11 - Provisions 122,268 127,719 249,987 149,335 65,314 214,649Opening balance at 1 April 2016 (100,640) (11,991) (112,631)Additional provisions 170,963 181,042 352,005Taken during the yearClosing balance at 31 March 2017 2017 2016 $ $Current: 122,268Annual leave 170,963 115,655Long service leave 134,271 237,923 305,234Non-current: 12,064Long service leave 46,771 240,323Note 12 - Statement of Cash Flows 127,201 781,215Reconciliation of cash flow from operations with operating surplus/(deficit): 829,249 (15,288) (3,378)Operating surplus/(deficit) (19,238) (52,105) (26,293)Non-cash items in operating surplus/(deficit) (12,784) (134,012) Depreciation (43,794) 30,646 (Profit)/losses on sale of property, plant & equipment (133,175) (46,961) 102,018 118,296Changes in Assets and Liabilities 90,390 928,688 (Increase)/Decrease in receivables 903,622 (Increase)/Decrease in other assets (Increase)/Decrease in inventories Increase/(Decrease) in other liabilities Increase/(Decrease) in provisions Increase/(Decrease) in payables and accrualsCash flow from operations Page 15Annual Report 2016/17 Page 38

Notes to and Forming Part of the AccountsTHE KOOYONGA GOLF CLUB ForINCORPORATED the year ended 31 March 2017NOTES TO AND FORMING PART OF THE ACCOUNTSFOR THE YEAR ENDED 31 MARCH 2017Note 13 - Credit Standby FacilitiesA bank overdraft facility of $310,000 is available however at balance date no amount was drawn against this facility. The facility issecured by Registered Mortgages over the Club's freehold property.Note 14 - Remuneration of Committee MembersNo amounts were received or due and receivable from the Club by the Committee.Note 15 - Financial Instrumentsa) Interest Rate Risk The Club's exposure to interest rate risk, which is the risk that a financial instrument's value will fluctuate as a result of changes in market interest rates and the effective weighted average interest rates on those financial assets and financial liabilities, is as follows: Weighted Floating Fixed Interest Total Average Interest Rate Rate Maturing Effective Within 1 Interest Year Rate 2017 2016 2017 2016 2017 2016 2017 2016 %% $ $ $ $ $ $Financial Assets 1.25 1.50 2,187,533 1,145,444 2,187,533 1,145,444Cash at bankShort term deposits 2.75 2.95 - -- 1,000,000 - 1,000,000Total Financial Assets 2,187,533 1,145,444 - 1,000,000 2,187,533 2,145,444THE KFiOnaOnYcOiaNl LGiaAbGiliOtiLeFs: CLUB INCORPORATEDBorrowings -- - -- -NOTETSotTaOl FAinNaDncFiaOl RLiMabINiliGtiePsART OF THE ACCOUN-TS -- - - -FOR THE YEAR ENDED 31 MARCH 2017b) Credit RiskThe maximum exposure to credit risk, excluding the value of any collateral or other security, at balance date torecognised financial assets is the carrying amount, net of any provisions for doubtful debts, as disclosed in the balancesheet and notes to the financial statements. The Club does not have any material credit risk exposure to any singledebtor or group of debtors under financial instruments entered into by the Club.c) Net Fair ValuesThe aggregate net fair values and carrying amounts of financial assets and financial liabilities are disclosed in thebalance sheet and the notes to and forming part oPfatghee a1c6counts. Annual Report 2016/17 Page 39

Notes to and Forming Part of the AccountsFor the yearTHE KOOYONGA GOLF ended 31 MarchCLUB INCORPORATED 2017 NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2017 Note 15 - Financial Instruments (cont) d) Sensitivity Analysis The Club has performed a sensitivity analysis relating to its exposure to interest rate risk at balance date. The sensitivity analysis demonstrates the effect on the current year results and equity which could result from a change in these risks.As at 31 March 2017, the effect on profit and equity as a result of changes in the interest rate, with all other variablesremaining constant would be as follows:Change in profit 2017 2016- Increase in interest rate by 2% $ $- Decrease in interest rate by 2% 43,751 42,909Change in equity (43,751) (42,909)- Increase in interest rate by 2%- Decrease in interest rate by 2% 43,751 42,909 (43,751) (42,909)Note 16 - Leasing CommitmentsOperating lease commitments being for the lease of land and motorised carts payable: 52,032 8,518 - not later than one year 130,449 30,477 - later than one year but not less than five - later than five years - - 182,481 38,995Note 17 - Related Party Transactions(a) The names of the Committee in office at the date of this report are:Dr Grant Leslie Raymond Mr Sam John AtkinsMrs Debbie Ann Alexander Mr Timothy John SennettMr Gary Dean O’Loughlin Ms Helen Elizabeth EgarDr Kenneth John Russell Mr Crawford David GilesMr Anthony John Timmins Dr Angas Douglas Bell Hains(b) During the financial year, no members of the Committee have received directly or indirectly from the Club, other than mentioned in (c), any payments or other benefits of pecuniary value other than in the case of officers employed by the Club who received approved salaries which have been determined in accordance with general market conditions.(c) During the financial year, the club purchased wine from ‘Fox Gordon Pty Ltd’, a company controlled by Mr Sam Atkins. The company was paid $6,222. Transactions between related parties are on normal commercial terms and conditions no more favourable than those available to other parties. Page 16Annual Report 2016/17 Page 40

Notes to and Forming Part of the AccountsTHE KOOYONGA GOLF CLUB ForINCORPORATED the year ended 31 March 2017NOTES TO AND FORMING PART OF THE ACCOUNTSFOR THE YEAR ENDED 31 MARCH 2017Note 18 - Contingent LiabilitiesThere were no contingencies facing the Club as at 31 March 2017 that have not been brought to account in the financialstatements.Note 19 - After Balance Date EventsNo 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 20 - Capital ManagementThe Committee members control the capital of the Club in order to maintain a good debt-to-equity ratio and to ensure that the Clubcan fund its operations and continue as a going concern.The Club's debt and capital includes financial liabilities, 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 capitalstructure in response to changes in these risks and in the market. The responses include the management of debt levels.There have been no changes in the strategy adopted by management to control the capital of the Club since the prior year. Thisstrategy is to ensure that there is sufficient cash to meet trade and sundry payables and borrowings.Note 21 - New Accounting Standards and InterpretationsCertain new accounting standards and interpretations have been published that are not mandatory for 31 March 2017 reportingperiods. The Kooyonga Golf Club Inc have received preliminary advice that the following new accounting standards may impactfuture reporting:AASB 15: \"Revenue from contracts with customers\" (applicable from 1 April 2018) may affect the timing of revenue recognition inthe future.AASB 16: \"Leases\" (applicable from 1 April 2019) will require operating leases to be brought onto the balance sheet as both assetsand liabilities.Further advice and guidance is being sought from the Club's advisers with regards to the impact of future standards.Note 22 - Club DetailsThe principal place of business of the Club is:May TerraceLockleys SA 5032Page 18 Annual Report 2016/17 Page 41

Statement by the CommitteeIn the opinion of the Committee of the Club the financial report as set out on pages 26 to 41: 1 Present fairly the financial position of the Club as at 31 March 2017 and it's performance for the year ended on that date in accordance with Australian Accounting Standards, mandatory professional reportin requirements and other authoritative pronouncements of the Australian Accounting Standards Board. 2 At the date of this statement, there are reasonable grounds to believe that the Club will be able to pay its debts as and when they fall due. 3 During the financial year ended 31 March 2017 no officer of the Club, firm of which any officer of the Club is a member or body corporate in which any officer of the Club has a substantial financial interest has received or become entitled to receive a benefit as a result of a contract between any officer, firm or body corporate and the Club, except for those disclosed in Note 16. 4 During the financial year ended 31 March 2017 no officer of the Club has received directly or indirectly from the Club any payment or other benefit of a pecuniary value.This statement is made in accordance with a resolution of the Committee and is signed for and on behalf ofthe Committee by:GL Raymond K J RussellCaptain Chairman - Finance, Audit & MembershipDated at Lockleys, S.A on the 6th day of May 2017Annual Report 2016/17 Page 42

Bentleys SA Audit Partnership Level 2 139 Frome Street Adelaide SA 5000 GPO Box 939 Adelaide SA 5001 ABN 43 877 091 903 T +61 8 8372 7900 F +61 8 8372 7999 [email protected] bentleys.com.auIndependent Audit Report to the members of Kooyonga Golf Club Inc.OpinionWe have audited the financial report of Kooyonga Golf Club Inc. and the consolidated entity, whichcomprises the statement of financial position as at 31 March 2017, the statement of comprehensiveincome, statement of changes in equity and statement of cash flows for the year then ended,accompanying notes to the financial statements and the statement by the members of the committee.The consolidated entity comprises both the Club and the company it controlled during the year.In our opinion, the financial report of Kooyonga Golf Club Inc. presents fairly in accordance withAustralian Accounting Standards, the Association Incorporations Act of South Australia and othermandatory professional reporting requirements in Australia, the financial position of Kooyonga GolfClub Inc. and the consolidated entity as at 31 March 2017 and the results of their operations and cashflows for the financial year then ended.Basis for OpinionWe conducted our audit in accordance with Australian Auditing Standards. Our responsibilities underthose standards are further described in the Auditor’s Responsibilities for the Audit of the FinancialReport section of our report.We are independent of the Club in accordance with the ethical requirements of the AccountingProfessional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants(the Code) that are relevant to our audit of the financial report in Australia. We have also fulfilled ourother ethical responsibilities in accordance with the Code.We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basisfor our opinion. A member of Bentleys, an association of independent accounting firms in Australia. The member firms of the Bentleys association are affiliated only and not in partnership. Liability limited by a scheme approved under Professional Standards Legislation. A member of Kreston International. A global network of independent accounting firms.

Committee's responsibility for the financial reportThe Committee of the Club is responsible for the preparation and fair presentation of the financialreport in accordance with Australian Accounting Standards (including the Australian AccountingInterpretations) and the Association Incorporations Act 1985 (SA). This responsibility includesestablishing and maintaining internal controls relevant to the preparation and fair presentation of thefinancial report that is free from material misstatement, whether due to fraud or error; selecting andapplying appropriate accounting policies; and making accounting estimates that are reasonable in thecircumstances.In preparing the financial report, management is responsible for assessing the Club’s ability tocontinue as a going concern, disclosing, as applicable, matters related to going concern and using thegoing concern basis of accounting unless management either intends to liquidate the Club or to ceaseoperations, or has no realistic alternative but to do so.Those charged with governance are responsible for overseeing the Club’s financial reporting process.Auditor’s Responsibilities for the Audit of the Financial ReportOur objectives are to obtain reasonable assurance about whether the financial report as a whole isfree from material misstatement, whether due to fraud or error, and to issue an auditor’s report thatincludes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee thatan audit conducted in accordance with the Australian Auditing Standards will always detect a materialmisstatement when it exists. Misstatements can arise from fraud or error and are considered materialif, individually or in the aggregate, they could reasonably be expected to influence the economicdecisions of users taken on the basis of this financial report.A further description of our responsibilities for the audit of the financial report is located at the Auditingand Assurance Standards Board website at: http://www.auasb.gov.au/Home.aspx. This descriptionforms part of our auditor’s report.Bentleys SA Audit PartnershipDAVID FRANCISPARTNERDated this 15th day of May 2017

Five Year Summary 2013 2014 2015 2016 2017 2018Membership 525 528 553 577 568 3,371Category One 382 364 349 313 320 337Category Two 136 146 147 154 164Honorary Social Members 430 453 488 505 491 $3,708Other Member Categories 1,473 1,491 1,537 1,549 1,543Total Members 2,800 2,940 3,087 3,241Subscription Rate (excl. levies) 2,667 280 294 309 324Add GST 267Total $3,080 $3,234 $3,396 $3,565 $2,934 $,000 $,000 $,000 $,000Trading Results $,000Subscriptions 2,662 2,759 2,859 3,012Other Trading Income 2,554 528 598 973 1.007Other Income 551 72 82 92 112 71 3,262 3,439 3,924Total Income 3,217 3,475 3,551 3,945 4,090Less Total Expenses 3,307 4,210 (213) (112) (21)Operating Surplus/(Deficit) (90) 334 280 261 (120)Add Entrance Fees 282 - - 247Kooyonga Foundation Contribution - 475 - 121 168 240 602Total Surplus/Deficit 192 Annual Report 2016/17 Page 45

The Kooyonga Foundation Golf Academy was officially opened on Friday 7 October 2016. With thanks to theKooyonga Foundation, Club Committee and members for supporting this project, we have been able to builda state-of-the-art indoor teaching facility, the first of its kind in South Australia.The integrated teaching technology and equipment allows us to provide the best in coaching services,incorporating the assistance of Trackman, Sam PuttLab, Bodi Trak, E6 Simulator software and high speedcameras.Our highly qualified teaching professionals, John Corbett - Head Professional, Duard Nel - AssistantProfessional and Susie Mathews - Golf Operations Manager are available for lessons every day at varioustimes throughout the week. Being an indoor academy, lessons are not restricted by weather conditions, withcoaching services provided rain, hail or shine.The Kooyonga Golf Academy is open seven days a week by appointment.

The Kooyonga Foundation Annual Report 2016 - 2017

The Kooyonga Foundation Inc.Annual Report The members below have been admitted to the following membership categories to recognise their financial support and commitment to the Foundation Companion Member Walford & Sue Thyer Trustee MemberKen & Joan Babidge Angas Hains Pauline SandersonBruce Bavistock* Bill & Yvonne Johnson Ian SargentRoss Dillon Peter Leaney* Ann SaundersBrian Fricker* David McKee Dean & Margaret SouthwoodJohn & Merrilyn Garrett Peter & Sandy Robinson Grant Raymond Fellow MemberGary Allison Gerald & Sue Cox Linda Ferris Mark Irwin Kym SawersRichard Blandy Judy Crafter Trish Fricker^ Maurice Klemich* Bardie SimpsonKathy Booth Grant Crowhurst William Frogley Keith Lewis* Bruce SpanglerQuentin Brown Zoe Daw^ Damian Gallagher Peter Noblet Jim Sweeney^Tony Carrig Bill Dawson Roma Grant* Rex Pearlman Darren ThomasJohn Clayton^ Robert Day Gail Hamilton Jeff Rogers Shirley Uhrig^Andrew Cohen Pam Dixon Peter Hewitt Don Rutherford Mark WoodTim Cooper Roger Drake Stephen & Gill Hicks Bill Rymill^Colin Alexander Helen Egar Member Anne Marshall Ken Russell Deb Alexander Elizabeth Esselbach Greg May Neil & Sally SarahTerry Anderson Ann Ewer Colin Hastwell Marg Mcleay James Sargent David Baker Christine Flynn Elizabeth Heath Ray Michell Tim SennettDiane Bamford John Frogley Geoffrey Heithersay Keith Middleton Ian Southwood Frank Bamford Merry Frogley Henry Heuzenroeder Kayoko Miki Allen StanleyNeil Beagley Geoff Fry Alan Hill Suzanne Moffatt Lynn Stewart John Bishop Sue Fuller Wayne Jackson Kerry Moore Missie Stokes John Blunden Michael Gilchrist Elizabeth Jackson Harry Moore Anne Sved WilliamsVin Brazier Mark Goddard Skye Jarvis Alex Morkunas Tony TimminsLibby Broomhead Barbara Gower Michael Johnston John Morton Bob Townsend Ros Brown Quentin Gower Peter Johnston John Muller Jillian TrenordenTerry Burns Fay Gulliver Bill Jolley Melissa Nelligan Neil Tuckwell Helen Burvill Colin Hackett Anita Just Tossie Nitschke Con Vanco Judith Carrig Malcolm Hall Geoff Kay Steve Officer Penny Wark Gary Chenoweth Bob Hall David Klingberg Craig Parsonage Ian Watson AM Karen Chenoweth Pamela Hall Theo Kruys Andrew Pontifex Tony Williams Dean Clayton David Hall Adrian Lacey Allan Pring Allan Winter Tom Davies John Hamilton Virginia Lacey Carrol Reynolds Ian Wong Rodger Daw Mary Hammer Grant Laidlaw Terry Rodoni Richard Wood Ian Day Sally Hammer Helen Laidlaw Barbara Rogers Timothy Wood Colin Dunsford John Harvey Sue Lawrie David Rowe Robert Young Sandra Lunn Wendy Mann *Deceased ^Past MemberAnnual Report 2016/17 Page 48