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Annual Report 2019-20

Published by amanda, 2020-06-11 21:37:13

Description: Kooyonga GC Annual Report 2019-20


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Annual Report 2019 - 2020

CORE VALUES A progressive and proud club that; Is respectful of its traditions Has a commitment to excellence Is inclusive Promotes the enjoyment of golf



GOLF FINANCE 3hr 55min, 25secs $259.5K AVERAGE TIME PER ROUND OF GOLF ACCOUNTING PROFIT FOR 2019/20 SLIGHT INCREASE OF 20 SECONDS PER FORECAST OF $5K FOR 2020/21 WITH DECLINE ROUND COMPARED TO 2018/19 DUE TO DEPRECIATION AND INTEREST COSTS 48,338 $1.18M ROUNDS OF GOLF 2019/20 CASH SURPLUS 2019/20 2.6% DECLINE FROM LAST YEAR BUT IMPACTED FORECAST OF $1.009M 2020/21 BY CORONAVIRUS IN MARCH 2020 $4.065M 42 rounds CAPITAL EXPENDITURE IN 2019/20 PER MEMBER $3.7M ON CLUBHOUSE PROJECT 20% INCREASE IN MEMBER ROUNDS OVER LAST 5 YEARS $548K 12% NET BANK BALANCE AS AT 31 MARCH 2020 GROWTH IN LESSONS HELD IN THE GOLF ACADEMY $5.15M TUITION INCOME HAS DOUBLED SINCE FIRST FULL PEAK DEBT FORECAST FOR YEAR OF TRADING FOR ACADEMY IN 2017/18 FEBRUARY 2021 822 FOLLOWING CLUBHOUSE BEING COMPLETED INDIVIDUAL GOLF CLUBS SOLD IN 2019/20 $67.5K 34% INCREASE FROM 613 CLUBS SOLD IN 2018/19 INITIAL IMPACTS OF CORONAVIRUS IN MARCH 2020 16,528 BUCKETS OF BALLS USED ON THE PRACTICE FAIRWAY 13,909 IN 2018/19, 18.8% INCREASE IN PRACTICE IMPACT FROM COVID-19 The full financial impact of Coronavirus will not be known for some time, however we can confirm: > There was a $67,500 financial impact from the course and clubhouse closure in March 2020 > Membership losses at renewal in March/ April 2020 were 7.5% and closely aligned with our average of 7% over the last 5 years > The Club’s reduced trading income has been managed through reduced staffing and government assistance including the Cashflow Boost and JobKeeper payments > Extended restrictions will have a negative impact on the Club’s finances due to our reliance on catering and guest income and visitor functions for net income

Annual Report of the Committee Office Bearers and Committee MR TERRY ANDERSON MR CRAWFORD GILES MR JOHN GARRETT CAPTAIN VICE-CAPTAIN PRESIDENT Attended 13 out of 13 GC meetings Attended 13 out of 13 GC meetings Not required to attend Committee meetings GC (Chair), LMN FARG (Chair), C&W, HE&H LMN MR HARRY MOORE MRS DEBBIE ALEXANDER MR SAM ATKINS VICE-PRESIDENT COMMITTEE COMMITTEE Not required to attend Committee meetings Attended 13 out of 13 GC meetings Attended 11 out of 13 GC meetings LMN HE&H (Chair), FARG C&W (Chair), M&MS MR DAVID FRATERMAN MR MICHAEL GILROY DR ANGAS HAINS COMMITTEE* COMMITTEE COMMITTEE Attended 10 out of 10 GC meetings Attended 9 out of 10 GC meetings Attended 12 out of 13 GC meetings JD (Chair), C&W, M FARG, HE&H, M&MS M (Chair), C&W MR GEOFF KAY DR LYNN STEWART MRS JILL TRENORDEN COMMITTEE COMMITTEE COMMITTEE Attended 13 out of 13 GC meetings Attended 11 out of 13 GC meetings Attended 5 out of 10 GC meetings M&MS (Chair), FARG, C&W M&MS, M W (Chair), M&MS, M *Committee appointed. Retiring Committee members - Ken Russell attended 3 of 3 meetings, Gary O’Louglin attended 1 of 3, Helen Egar attended 2 of 3. Sub Committees: GC - General Committee. FARG - Finance, Audit, Risk & Governance. C&W - Course & Water. M - Match. HE&H - House, Events & Heritage. M&MS - Membership & Member Services. W - Women’s Sub Committee. JD Junior Development Taskforce. LMN - Life Membership Nominations. Annual Report 2019/20 Page 4

Annual Report of the Committee Captain’s Report micro-management and the value of Committee was mindful of the skills matrix and assessment tools to traditions around the Women’s identify opportunities for improvement Committee and its Office-bearers but at Committee level. believed that the new arrangements One of the deficiencies identified by would better serve the Club and Colin was that while the administration women’s golf as opposed to a stand- compiled occupational health and alone Committee. safety reports, they were not formally The new Sub-Committee will now be reported to Committee. This has now more closely aligned to the General been rectified and a monthly incident Committee’s objectives and will register is reported to the Committee at strengthen the role of women’s golf at each monthly meeting. Kooyonga. The 2019/20 reporting year got Highlights of the new strategic plan COVID 19 off to a relatively smooth start include that by 2025: Little were we to know the impact which gave no indication of what lay • Kooyonga is firmly entrenched as one a virus would have on our golf club, ahead in the first part of 2020! although it pales into insignificance The way in which Committee operates of the premier championship courses when you see the death toll and underwent some reform in the in Australia and recognised for its economic impact across the globe. As first part of the reporting year with superb conditioning and playability members would be only too aware, it Sub-Committees being given more all year round led to the closure of the clubhouse, and responsibility to generate ideas and • The design and implementation an 8-day closure of the course followed debate issues before they came plan for a new irrigation system be by a gradual re-opening under strict before the General Committee with completed conditions. a paper outlining brief background, • The number of rounds has reduced At the time of writing this report, it financial and other implications and to 45,000 to reduce wear and tear would appear that we are slowly getting recommendations. and to improve accessibility back to normal albeit a new normal! This was an attempt to inject more • We have diversified our income Committee at all times attempted to discipline into the decision-making to enable a 15 per cent reduction put the health and safety of members process with recommendations having in membership without related and staff first and foremost and while been argued out at Sub-Committee increases in subscription fees while we might be accused of being ultra level with the General Committee then maintaining our ability to fund critical conservative, I would rather overreact in acting more like a Board. The new capex projects these situations than under-react and system has worked relatively smoothly A summary of the updated strategic put members and staff at risk. but remains a work in progress. plan is included within this annual The end result is that the clubhouse A strategic planning weekend was report with key outcomes and a number was closed for a significant period held for the General Committee during of the objectives and initiatives listed which will have a serious impact on our October to formulate an updated for each area for member information. revenue because of the loss of outside strategic plan for the 5-year period Following discussions between the functions and visitors. 2020 to 2025. General Committee and the Women’s Member and well-known businessman Committee, it was decided that the and experienced Board Chairman, Women’s Committee would become Colin Dunsford AM ran a session during a Sub-Committee of the General the weekend and provided us with Committee and that the Offices of invaluable insights into what works Women’s President, Vice-President, and doesn’t work at Board level with Captain and Vice-Captain would be particular application to Kooyonga. abolished although an as interim Key governance messages included measure, there would be a Women’s the importance of risk management, Golf Captain until the 2021 Annual benchmarking, avoidance of General Meeting. Annual Report 2019/20 Page 5

Annual Report of the Committee Captain’s Report (cont) COURSE We had close to $3 million in the bank to begin the project so will From a course perspective, we re-opened the redeveloped 17th be borrowing the remaining $5m to complete the project. We are hole with the aim of reducing the safety issue around egress from forecasting a peak debt of $5.15m during 2020/21 and plan to the green to the 18th tee. The green was shifted slightly to the reduce each year until 2026/27 when we expect to be back in right and a dry stone wall was built between a remodelled pond the black again. Similarly, interest payments will reduce from a and the green. projected high of $160k in 2021/22 to zero in 2026/27. The redeveloped green complex has been well received by members and visitors alike and is not only safer but visually more The rationale for the project was outlined at last year’s Annual attractive. General Meeting and it’s worth repeating the main reasons for We will continue with our policy of replacing a green every year to undertaking this project. They are: ensure that no greens are more than 18 years old and as outlined in the strategic plan, we continue to plan for a new irrigation • The need for a new women’s locker room system to enhance water quality, efficiency and security. • The need for extra cart and buggy storage as well as the need Sam Atkins will report in more detail on course matters which will include the new tee block and landscaping on the 12th and the for better storage of clubhouse furniture renovation of the 13th green. • The need for male toilets on the northern side and a separate CLUBHOUSE The clubhouse redevelopment got underway in September of function area to give members more privacy when there are last year and work has progressed well and should only be a few outside functions at the Club weeks away from handover when we provide a member update at • The need for a quiet area or business hub where members can the Annual General Meeting. make business calls and use other electronic devices in privacy This project is the biggest capex we have undertaken with without disrupting other members a total project cost of $8 million including architectural and The clubhouse will be finished to a very high standard and I am engineering consulting fees, the building contract with Schiavello confident members will be extremely proud of the new facility. Constructions as well as furniture, fixtures and equipment. With a wonderful team of hospitality staff and the highest quality of food prepared by our kitchen team, I am sure members look forward to bringing family and friends to enjoy the clubhouse and new services on offer in the near future. View clubhouse project gallery here (ensure you are logged into the Kooyonga website as a member)

Annual Report of the Committee Captain’s Report (cont) GOLF SERVICES I can assure members that upmost diligence is taken by Our golf services and facilities including the golf shop, Foundation Committee in budgeting and attention to management Golf Academy and practice facilities continue to be well efficiency without compromising our ability to provide supported and utilised by the membership. We have a highly outstanding facilities and services in line with our agreed credentialled team of Professionals including John Corbett, strategic direction. Daniel Blackwell, Susie Mathews and Duard Nel who have each MEMBERSHIP helped many members improve their enjoyment of the game. Membership of Kooyonga remained steady throughout The academy has proved to be a fantastic investment with tuition 2019/20 with very few membership resignations or transfers income and fitting services for golf clubs growing rapidly in recent to non-playing categories, with those lost replaced by a regular years. Congratulations to Dan Blackwell for being recognised as induction of new members joining the Club. The increase in South Australian PGA Coach of the Year in 2019, an excellent entrance fee mid-2019 to 3 x the Category 1 fee did raise some achievement which has enhanced his reputation as well as that of concern from members as to its sustainability and our ability to the Kooyonga Golf Academy and our coaching programme. attract new members, but I am pleased to report that to date With interest in practice continuing to grow, the Committee we have not seen a decline in interest in joining Kooyonga. continue to consider the installation of lights on our practice With COVID-19 resulting in the closure of the clubhouse facility. It was decided to put this on hold until the clubhouse and course in late March 2020, just as the subscription fees project is completed and also while the Course Committee for 2020/21 were due, it did cause Committee some initial consider the short game and practice green areas and whether concerns as to the potential impact on membership numbers. any changes should be incorporated into the design concept for It is with some relief to know that the vast majority of members the proposed lights. It may take some time to finalise these plans have now renewed their membership with playing members and prioritise the timing of any works against other strategic close to budget. We are mindful however, that the full economic projects, and we will keep members informed in due course. impacts of Coronavirus may extend beyond 2020-21 and put We have a fantastic calendar of golfing events at Kooyonga which further pressure on membership numbers in years to come. provide the challenge of competition, but importantly help build Membership quotas and playing patterns are being closely a wonderful sense of camaraderie and spirit within the Club as reviewed by the Membership and Match Committee’s as you will see with the many photos and commentary within this members continue to play more and more golf at Kooyonga, Annual Report. Thank you to all members who participate and putting pressure on tee times. This is an important strategic support our events and congratulations to all the winners. We all issue that will need careful consideration to balance member look forward post COVID-19 restrictions to recommence our golf comfort against subscription fees and the Club’s long term programme for 2020. I wish to acknowledge and thank the Match financial position. Committee, and in particular Susie Mathews who works extremely FUTURE CHALLENGES hard behind the scenes to organise and run our golf programme As has been well-documented over the past few years, golf is in along with our team of golf shop staff. decline throughout the world and even those who want to play The golf shop is the front door to any golf club and Committee the game, are often not joining golf clubs. continue to be pleased with the decision taken some 5 years Our challenge is to ensure that Kooyonga is the club of choice ago to resume control of the shop, with regular positive feedback in South Australia for what will be a dwindling pool of those who from members and guests as to the level of friendly service want to join golf clubs. That is why we have invested heavily in provided by our team. improvements to the course and more recently, the clubhouse FINANCE redevelopment. I am pleased to report an improvement in our financial However, balancing the need for a healthy membership against performance this year, with an operating surplus of $259.5K wear and tear on the course, the availability of booking times compared to $201.5K recorded last year. The Finance, Audit, and the capacity of members to pay entrance fees and annual Risk and Governance (FARG) Committee, led by Chair and Vice subscriptions is going to be a huge challenge. Captain Crawford Giles, have worked extremely hard with our management team over recent years to improve our financial results and should be congratulated on reaching a strategic goal of a break-even result prior to entrance fees for the first time in 2019/20. With the clubhouse project close to completion, the budget for the 2020/21 year forecasts a significantly lower operating result due to the impacts of interest and depreciation which are explained in the financial report within this Annual Report. It is expected to take a few years to return to a break-even result prior to entrance fees without alternative income sources. Annual Report 2019/20 Page 7

Annual Report of the Committee Captain’s Report (cont) There is little doubt that once the baby boomer generation stops ADMINISTRATION playing golf, there will be a big hole in the membership as they As has been said countless times before, we are blessed with simply won’t be fully replaced by the next generations. great staff and they contribute in no small way to the success of Simple maths demonstrates that there will be less members who our Club and the great atmosphere amongst the membership. will have to pay more for the privilege of belonging to a golf club. The fact that we have great staff is no accident and our Ultimately that will mean that some clubs won’t survive and those General Manager, Brett Lewis deserves considerable praise for who do will have to look at boosting non-subscription income. assembling such a good team who are all prepared to go that All of this underlines the importance of strategic planning and extra mile for the benefit of members. those organisations that don’t undertake strategic planning are In addition to his efficient management of club finances and destined to fail. human resources, Brett also provides wise counsel to the On more specific challenges facing us here at Kooyonga, water Committee and the Sub-Committees as well as being a first port security and quality will continue to occupy plenty of our of call for member queries and occasionally even complaints! thinking and planning. While we have good quality bores, salinity On behalf of the membership, I would like to express my sincere is a constant issue particularly during dry times. thanks to all staff for their work during the year and in particular In addition, we need to monitor Government policy in relation to their understanding and acceptance of the situation during the drawing water from the aquifer and our irrigation infrastructure COVID-19 crisis. To stand in front of our staff and tell them they will eventually need replacing. would have to be stood down for an indeterminate period was We are also planning for a redevelopment of the maintenance one of the most difficult tasks I have undertaken and one I hope facility which in its present configuration is inefficient and we will never be repeated. also need to upgrade staff facilities. OUTLOOK COMMITTEE Notwithstanding the difficulties imposed on us by COVID-19, we My thanks to all Committee members who have worked tirelessly have much to be thankful for and much to look forward to. and cohesively during what has been a challenging year. We We know we are on the right track with the changes that welcomed new members, Jill Trenorden, Michael Gilroy and our have been made to the course under designs overseen by inaugural Committee appointee David Fraterman, who have Course Architect, Neil Crafter and the expertise of Course already made their mark and complemented the existing team Superintendent, Richard James. line-up. Hard evidence of being on the right track has come from the two The collective wisdom and experience of a group of disparate major course ratings, Golf Australia Magazine and Golf Digest people brought together for a common purpose should never which have seen us move up three places to 22 respectively, be underestimated and plays no small part in the way the effectively 6 places because of new courses that have come on Committee works so well together. stream and moved into top 20 contention. My thanks also to the Chairs of our Sub-Committees who have The clubhouse redevelopment will be something that members shown great leadership in their various portfolios. Special thanks will be proud of and will be among the best in Australia. We can to Vice-Captain, Crawford Giles who has been a tower of strength look forward to the same level of service in the redevelopment in supporting me and taking the lead on finances and the as we had pre-COVID-19, something which is the envy of other clubhouse redevelopment. clubs. Special thanks to outgoing President Jack Garrett and retiring At this time we are uncertain whether the 2021 Women’s Committee members Deb Alexander and Angas Hains who have Australian Open at Kooyonga will proceed as planned, but we are both served two terms on Committee and have contributed hopeful the event will go ahead and we can showcase our course greatly. I thank them for their strong support and commitment to and new clubhouse to the best female players in the world. the Club. Hopefully by the time this report is published we will be back to Thanks also to the Kooyonga Foundation which provides support something resembling normality so we can continue to enjoy all for junior development and capital projects such as our very that is on offer at Kooyonga. successful Golf Academy. Thank you to all members. Terry Anderson Captain Annual Report 2019/20 Page 8

Annual Report of the Committee Course On behalf of the Committee The work undertaken on the course over the past 5 years and members, I would around the Landscape Enhancement Plan and the commitment like to thank Richard James, of the Committee to continue to replace a green every year Adam Fry and the entire to combat poa annua and couch encroachment to the bent course and grounds staff for grass collars has ensured that Kooyonga is at the forefront of their commitment and skill poa annua management in the country and the envy of many in presenting the Kooyonga visitors to our Club and golf course. golf course for our enjoyment This was recognised by both the leading course rating lists in each and every week and day Australia this year with Kooyonga lifting 3 places from Number of the year. 25 in 2018 up to Number 22 in 2020 in both the Golf Digest The course has held up well Magazine and Golf Australia Magazine. after the extremely hot and dry conditions of 2019 and early KOOYONGA: A three-place rise months of 2020. Pleasingly some early Autumn rain in April and that is fitting reward for an established May should set the course up for a good growing season come club taking steps to improve its layout. Spring. Addressing vegetation and a recently Richard and his team’s commitment has been further tested upgraded green complex at the over the past three months with the onset of COVID-19 and picturesque 17th hole are the latest the associated working restrictions. During this time the course touches. Ten years ago, a place in the team has worked tirelessly in smaller groups and outside second 10 looked out of reach for normal working conditions and hours, to not only maintain the Kooyonga, but now it is back in touch. course in a suitable playing condition for our packed fields, - Australian Golf Digest Magazine but undertaken an extraordinary amount of maintenance and course upgrades that would not normally have taken place at this time of year. The benefit to the course and our members will become especially evident as we approach the warmer months of Spring 2020. Annual Report 2018/19 Page 7

Annual Report of the Committee Course (cont) MAJOR COURSE WORKS to the pond was the installation of a dry- were installed where the fairway bunker was 17TH HOLE AND GREEN COMPLEX stone wall, constructed from Carey Gully removed to irrigate both the fairway and The 17th hole and green complex was a sandstone. The wall sits in the area nicely, the vegetation to enable establishment and major reconstruction project undertaken adding a great feature to the hole. survival of native plants on the sand dune. during the past year. 12TH TEE AND 13TH HOLE AND GREEN Alterations were made to the 13th carry, Committee, in conjunction with the course COMPLEX which along with all other installations are architect and superintendent took the With landscape work around the clubhouse designed to improve turf quality and assist opportunity during the annual green at the completion of building work in mind, in maintaining adequate moisture without replacement process and subsequent hole reconstruction works on the 13th hole was the need to use portable hoses and impact closure to further improve the hole for future brought forward to early 2020. Along with sprinklers. generations both in hole design, playability the resurfacing of the green and surround, DRAINAGE and aesthetics. Committee took the opportunity to remove A number of drainage projects were This included reshaping and extending the the fairway bunker and return the area undertaken during the past year, with the dune behind the green around the southern back to the natural contour and to soften aim of improving winter playing conditions side to create an amphitheatre around the some of the mounding on the approach and in areas of the course often affected by green and a new egress up to the 18th tee. surrounds of the green allowing improved standing water during winter months. The The separation between the fairway and mowing lines and general irrigation and major area of work involved the installation approach was removed, with fairway turf maintenance programs. of two sections of herringbone drainage pipe now joining the two areas and extending Committee also took the opportunity to on the left side of the 16th fairway, running further to the right side on the approach to repair the significant storm damage behind from past the fairway bunkers to where pre- the pond. A pair of artificial mounds were the 12th and 14th tee’s replanting the existing drainage installed some 15 years removed from the right side of the fairway, area and laying a new pathway, which in ago ended, running to a soakage pit dug which has afforded a much better view of the coming years will return this area of into the rough on the side of the fairway. An the green and pond from the right side of the the course to its former glory. Trees and envelope of 20mm gravel was placed around fairway now that the area has been returned shrubs planted include several varieties the drainage pipe, followed by a consistent to natural contours. of indigenous Eucalyptus, Melaleuca, 300mm depth of sand used to cap the Irrigation upgrades throughout the entire Callistemon and Myoporum species, with trenches compacted prior to re-sodding. construction area were undertaken, with previously planted native pines interspersed Along with the installation on the 16th, adjustments and new installations made through the area. smaller areas of drainage were incorporated to facilitate the new turf lines and ensure The redevelopment of the 12th tee has into reconstruction works on both the 17th improved coverage. Sprinklers were installed allowed us to install a new black tee for and 13th holes. In the process of renewing to cover the new dunes, allowing us to appropriate competitions, whilst the the turf on the approach on the 17th, a control where we place our water rather reshaping of the 13th green has allowed layer of white clay was identified below than relying on overspray from turf areas to an extra pin on the front right of the green, the silty organic layer under the turf. The irrigate fescue and native areas. adding a challenging mid-iron approach over clay subbase was shaped to ensure its The pond was cleaned of sludge and slightly the bunker for our members. fall towards the burn, with drainage pipe enlarged, with an upgraded water circulation Irrigation upgrades throughout the hole installed prior to capping with sand. Further system and an auto fill valve added to included modifications to the first three back along the fairway, additional pipe was maintain the water level. The major change approach laterals, creating a three-row, installed in similar fashion draining into the hard edged system. Additional sprinklers burn, and the new area of fairway bordering the pond was also drained. 12TH TEE 13TH GREEN

Annual Report of the Committee Course (cont) 13.5 Masters Event Club Champs GREEGNreeSnP SpEeEedD RReaEdAingDs INGS 13.0 Simpson Cup 43657 12.5 Playfair Putter 12.0 Medal Rounds 11.5 43607 Renovations 11.0 10.5 43707 43757 43807 43857 43907 10.0 9.5 9.0 43557 Minimum Reading Stimp Reading While the 13th hole was out of play, we The scarifying and verti mowing processes down post renovations prior to Kooyonga took the opportunity to install a section of carried out on the fairways was successful hosting the Women’s Australian Open in drainage spanning the width of the fairway in thinning out the upper canopy of the turf February 2021, COVID-19 permitting. at the beginning of the approach where along with removing dead organic matter COURSE EQUIPMENT water often accumulates during periods of to a depth of 20mm. This year we took the A Tru Turf Electric greens roller was added heavy rain. We also utilised a 450mm auger opportunity to make 2 passes over fairways to our course maintenance fleet during to drill 2-metre-deep holes at four hollows on holes 8, 11, 12, 13, 16 and 18 with the the year to assist with maintenance and at the back of the green to assist with scarifiers to remove additional organic presentation of the greens. We also added drainage in these low areas. All drainage matter. a second dosing pump to the irrigation was filled with rock and capped with Following clean up, we carried out light system to allow us to treat irrigation 200mm of sand before re-turfing. topdressing of fairways that had received water at designated times with acidifying RENOVATIONS an additional pass, along with areas where products to assist in counteracting the Major course renovations were again we often see issues with scalping. We also negative effects the alkaline pH levels of carried out in early December, with a deep carried out some coring of fairways, with our bore water on the soil profile of our solid tyning with the verti drain followed the material brought to the surface rubbed greens. by hollow tyning and topdressing of the back in adding to the topdressing effect I would like to thank the Course Sub bentgrass greens and collars. Applications along with the benefits of decompaction Committee for the hours of work and of amendments and fertilisers were applied and aeration on the profile. constructive debate and acknowledge and to boost soil health and stimulate recovery, FUTURE PROJECTS thank Neil Crafter from Crafter + Mogford and whilst the profiles were open, plant Along with course maintenance activities as our course architect for his support. protectant products were applied as a such as bentgrass collar sodding to preventative measure to maintain plant treat areas of couch encroachment and I would like to thank Brett Lewis for health. lifting and levelling areas of fairways, the his tireless work ethic and passion for In the fortnight following renovation, Clubhouse surrounds will form a major Kooyonga and its long-standing position further heavy dustings of sand were part of our future projects in the coming within the South Australian and national applied to continue the smoothing process, months, with various landscape activities to golf community. filling any remnant core holes and assisting be undertaken to renew lawns and gardens Finally, I would like thank our Captain, Terry to smooth any wheel tracking from the around the new building. Anderson, for his continuing support and various machines used during the process. Renovations will be conducted earlier this leadership during these unprecedented Greens were mown around 4 days after year in October, as successfully trialled and challenging times for our golf club. topdressing, with the mowing height raised last year on the 17th hole during its Sam Atkins slightly for a week or two prior to being redevelopment work. This will allow more Chair - Course & Water Infrastructure brought back to regular mowing heights. time for the course to grow in and settle Annual Report 2019/20 Page 11

Annual Report of the Committee House, Events & Heritage It has been far from a and if food quality is anything to go by, it will be hard to go normal year for the past one of our current team members. We do however, need House, Events and to let the recruitment process take its course and I am sure Heritage Committee, our management team will make the right appointment when with the clubhouse the time is right. redevelopment project The social calendar has been impacted by the clubhouse creating some challenges works, with the annual Members’ Dinner and function on for hosting annual events the 1st tee under the stars, just two social events that were and implementing new not held over the last 12 months. We thank members who ideas and services in our attended one of a small number of social events that were hospitality operations held during the year, including the President’s Team vs and the most recent Captain’s Team lunch and golf event, RS Thomson Golf & Coronavirus pandemic Dinner Event, Melbourne Cup lunch, Christmas Twilight and requiring the clubhouse Family Fun Day. Our social functions are a great way to build services to be restricted camaraderie and spirit within the Club. I really do encourage and then close completely from the last week of March members to get involved and get to know other members in 2020. a social environment once the new clubhouse is opened and The clubhouse closure we recently experienced has events can be held post Coronavirus restrictions, hopefully highlighted to me and the members that I have spoken to, later in 2020. We have commenced planning for a grand just how much we value the clubhouse services and the team opening event, however it may be some time until we can of dedicated staff that contribute greatly to our membership provide further details and advertise a date. experience. While we are saddened that our valuable staff The clubhouse project has certainly dominated our were unable to work and provide the engaging service that focus over the last 12 months since the final design we enjoy for a two month period prior to re-opening on was presented to members at the 2019 Annual General 1 June, we are pleased that the JobKeeper payment has Meeting, subsequent member information session in late provided some financial assistance during this difficult time. August 2019 and the resultant award of construction to We congratulate and thank the entire hospitality team Schiavello Constructions in September 2019. The project lead by Anna Fontaine for the outstanding food and team consisting of Walter Brooke (Architect), CPR (Structural beverage service at Kooyonga over the last year despite Engineer), BESTEC (Building and Services Engineer), Rider the inconveniences experienced by the clubhouse project Levett Bucknall (Cost Manager) and meticulously and and most recently the Coronavirus pandemic. Our “service” methodically overseen by Crawford Giles and Brett Lewis focused front of house team remains a standout in the from Kooyonga along with club members Matt Cleave hospitality industry and the envy of most clubs, while our (Project Management) and Geoff Brennan (Legal) should be experienced team of chefs have continued to deliver high commended on their commitment and efforts to complete quality meals and culinary flare in the absence of a Head the project with minimal impacts on the membership. Chef, the appointment for which we deferred during the clubhouse renovations. The last 12 months has provided an excellent opportunity to assess the leadership qualities of our kitchen team prior to the appointment of a Head Chef FAMILY FUN DAY THE CAPTAIN’S TEAM WON THE 2019 CAPTAIN’S V PRESIDENT’S MATCH LEADING WITH A SCORE OF 17 AGAINST PRESIDENT’S TEAM OF 14

Annual Report of the Committee House, Events & Heritage ARCHITECT’S IMAGE OF THE WINE ROOM ARCHITECT’S IMAGE OF THE LIBRARY & BUSINESS CENTRE In some ways, the closure of the clubhouse due to Coronavirus members wishing to pay at the time of purchase can use the has provided Schiavello with a great opportunity to complete EFTPOS system but cash will no longer be accepted. internal works efficiently and without member service • New menus will be launched for the members bar, casual disruption. As I write this report, the redevelopment is taking dining and al a carte restaurant to coincide with the opening great shape and is close to lockup, leaving finishing trades of the new clubhouse. With more exclusive member areas as to work internally on a high quality fit out. The project has well as flexible spaces such as the new northern deck with unfortunately slipped a few weeks beyond the original date of external bar facilities, we can introduce new events with 9th July for practical completion due to a number of factors. relaxed dress and food offerings that will appeal to families We will continue to provide regular updates on progress and a wider cohort of the membership. including the upload of images on the club website for member • An expanded wine list will be launched to coincide with the information and we hope to offer “sneak peak” tours of the new opening of our new climate-controlled premium wine room facilities to be arranged with representatives from Schiavello that can store up to 1600 bottles of wine. Constructions once it is safe to do so. As we head towards the completion of building works, I mention • There are still a few modules of the Club’s IT system which the following changes and initiatives that will coincide with the will be rolled out in the coming months, including a dining opening of the new clubhouse as previously advised: module and grab & go module that will allow members to • The honour boards and display of club history and order food and beverage items or book a table for lunch from a mobile phone app. memorabilia around the clubhouse will be transformed in keeping with the interior design of the renovated clubhouse. • A dry-cleaning service will be offered with collection and This will be a significant undertaking and will also assist in return facilities incorporated into the new clubhouse preparations for a new Club History Book to be released to facilities. coincide with the Club’s Centenary celebrations in 2023. Any members interested in being involved in the lead up to our • New marketing material will be developed to promote our Centenary are encouraged to contact the Club. new services and expansive clubhouse facilities. • A new security system is being installed with a new member I encourage members to utilise and promote the high-quality card to be issued to all members to access areas of the hospitality services on offer at the Club. I for one, proudly bring new clubhouse, including front gate, bag and buggy storage, family and friends to the Club to showcase our wonderful locker rooms, driving range ball dispenser as well as being course and clubhouse facilities pre and post golf. used to purchase F&B or retail items from the golf shop. In closing, I wish to express my sincere thanks and appreciation to my fellow Committee members for their contributions and • We will move to a cashless club to improve member service efforts over the last year as we have continued to work on ways and staff efficiencies, a model successfully introduced by to enhance the membership experience at Kooyonga. some of our key reciprocal clubs over the last 12 months. All Debbie Alexander member transactions at the Club, including competition fees Chair - House, Events & Heritage Committee and retail purchases in the golf shop as well as F&B charges in the members’ bar will be posted to member accounts to be invoiced at the end of the month. Guests, as well as Annual Report 2019/20 Page 13

Annual Report of the Committee Finance The operating result for the 2018/19 Operating Result (re-stated) $201,488 2019/20 financial year Add: Increase in subscription fees $126,538 was an operating surplus of Add: Increase in golf operations (net) $ 48,764* $259.5K, an improvement of Add: Decrease in overhead costs $ 53,557 $58K over last year’s result Less: Decrease in Hospitality (net) $ (71,012) * but $39K below budget Less: Impact of Coronavirus $ (67,750) due to the initial impacts of Other $ (32,096) Coronavirus on the operating result in March 2020 and 2019/20 Operating Result $259,489 a change in accounting standards relating to *adjusted for Coronavirus reporting of entrance fees, which I have commented Please note the 2018/19 operating result has been re-stated on below. It was pleasing upwards from $198K to $201K to take into account changes in to achieve our strategic accounting policies due to new Accounting Standards related to objective of a break-even result prior to entrance fees. leasing commitments. On a cash basis we achieved a cash operating surplus of $1.18M I encourage members to read the Financial Statements included for the year prior to our annual contribution towards hosting within this annual report for more detailed information. the Women’s Australian Open. This cash surplus was a $118K The waterfall graph provided below highlights that additional increase on the cash surplus of $1.062M achieved last financial subscription fees together with greater profitability from our golf year. operations and savings in overhead costs were the three main The following table (above right) and below graph provide a reasons for the improved financial result compared to last year. quick reference to explain the reasons for the improved financial performance compared to last year. I have highlighted the initial impacts of the Coronavirus in March 2020 as a separate line item for member information.

Annual Report of the Committee Finance The following commentary provides a brief explanation of our • Administration expenses increased by $26K or 2.7% compared trading performance compared to last year: to last year primarily due to $15K increased support costs associated with our IT software, $5K additional insurance • Profitability from house operations fell sharply compared premiums and a long service leave provision for our General to last year’s result by $71K after adjusting for the initial Manager accrued after 5 years of employment in line with Club $21K impact from Coronavirus that restricted the hospitality policy. operations to members only from 15 March and total closure of the clubhouse for the last week of March. Food and • We continue to have a steady flow of new members entering beverage income fell substantially by $275K or 15% over the the Club as detailed within the separate membership report last 12 months because of the clubhouse redevelopment and have seen little impact of the change in Committee project that restricted our ability to host external functions policy which resulted in an increase in the entrance fee to for much of the year. In typical years economies in costs 3 times the Category 1 subscription fee. While our reported are achieved in hospitality with staff able to do much of the entrance fee income was $220K for 2019/20 compared to preparation work for functions in the quiet times whilst golfers $290K reported last year, please note that there has been a are out on course, particularly with two tee starts, but without change in accounting standards that impacts the recognition the function bookings we were often left with the hospitality of entrance fee revenue from 1 April 2019 as referred to in wages but no offset to the costs of the functions that would Note 1 of the Financial Statements. Historically, entrance fees otherwise have been held. The budget was set understanding revenue has been brought to account when due and payable this was a cost of the clubhouse redevelopment as the as entrance fees are non-refundable. Under AASB 15, the continued focus on providing the high service levels that new Accounting Standard for revenue recognition, entrance members have come to expect and appreciate in the fees received from all members must be recorded as a liability members’ bar was seen as a non-negotiable priority. and recognised as revenue via an annual assessment of the remaining membership tenure of each member, calculated • Profitability from our golf shop retail operations grew by $49K using the average tenure of our current membership base. compared to last year after adjusting for the initial $46K This change in recognition has resulted in a $41,321 decrease impacts of Coronavirus that resulted in the cancellation of two in entrance fee revenue reported for the 2019/20 financial corporate golf events and a number of golf bookings in the last year. Committee is of the view that the entrance fee revenue two weeks of March 2020. Our retail golf shop sales grew 10% reported as $261,720 in the cashflow statement provides over the last 12 months thanks largely to strong equipment more useful information to the users of the Financial sales that we believe is due to member confidence in our Statements. Professionals and the customised fitting process that they conduct in the golf academy. This increase was complimented • During 2019/20, the Club entered a lease agreement with by strong utilisation of the golf academy with net tuition Telstra who plan to erect a mobile phone tower left of the income growing by $17.5K or 34% compared to last year. 16th fairway. Although the tower is yet to be installed, leasing Since opening the academy in 2016 our annual tuition income fees of $11K were received for the 6 months ending 31 March has doubled and our team of John Corbett, Dan Blackwell, 2020. Susie Mathews and Duard Nel should be congratulated on the success of our teaching and club fitting services. Corporate 2020/21 BUDGET golf income grew by $13K compared to last year despite the The 2020/21 budget was developed with a view of continuing to late cancellation of the two events mentioned above. This provide outstanding facilities and services to members and guests improved profitability has been achieved through growth in the while completing the major clubhouse development by mid 2020. average spend per player rather than additional events as we Overall, our expenses will increase as we enter the year with full continue to minimise the number of events held at Kooyonga, course staffing and additional herbicide budgets for 2020/21, in an effort to prioritise member access. representing an increase of approx. $140k over the 2019/20 spend, and additional depreciation and net interest costs of approx. • Course operating expenses declined by $40K compared $160k and $170k respectively associated with the clubhouse to last year as a result of minor savings in depreciation redevelopment. These increases will be offset by subscription and wage costs as we ran a period of the year without our fee increases of $160k. The budget forecasts a small profit after full complement of 15 budgeted staff while recruiting for entrance fees of $5k and a cash operating surplus of $1.008M. additional staff. This was not a cost saving measure as the I can re-assure members as I did last year that our key operating course is our core asset and Committee are committed to expenses continue to be tightly managed without compromising maintaining it to the highest possible standard within budget our agreed strategic vision to be recognised as one of Australia’s constraints. premier golf clubs. To provide some context, our total operating expenses for administration, course and clubhouse have increased • House operating expenses declined by $59.5K compared by a combined 9% over the past six years, equivalent to an average to last year primarily due to $27.5k savings in cleaning and of 1.5% per annum. maintenance costs while the clubhouse is under construction and $18K savings in electricity costs thanks to the additional solar panels installed at the southern end of the clubhouse in early 2019. Annual Report 2019/20 Page 15

Annual Report of the Committee Finance Your Committee is fully aware and decisions in response to Coronavirus in Bank, with a peak debt of $5.2M in cognisant of our reliance on membership the best interests of the membership as a February 2021. While some uncertainly subscription fees to generate the necessary whole. remains over the cashflow implications income to offset the annual operating I will provide an updated report on the of the Coronavirus, our current cashflow costs to run the Club. A key strategic focus impacts of the Coronavirus at the Annual projections show our peak debt remaining for the Finance Committee is to explore General Meeting for member information. in the vicinity of $5.15M in February 2021, and generate additional external income CASHFLOW leaving a buffer of $500K including an for the Club to support the conflicting Our net bank balance was $548K at 31 overdraft facility of $150K in place with the goals of minimising fees while reducing March 2020, calculated by offsetting our Commonwealth Bank. membership numbers to improve member $402K loan facility with the Commonwealth 10-YEAR CASHFLOW access to the course, as member usage Bank of Australia against our transaction The Committee continues to maintain a of the course continues to rise over account balances of $950K. The net 10-year cashflow forecast to help project time. While challenging to identify the bank balance at 31 March 2020 was well cash balances in the coming years based appropriate revenue pipeline, Committee ahead of our budget expectations due on planned capital expenditure and major are committed to put less pressure on to the 3 month delay with the original capital projects yet to be prioritised. The subscription fee growth in future. commencement date for the clubhouse forecast includes key assumptions about CORONAVIRUS project which reduced progress payments the membership and operational areas of As I write this report, the full financial paid to Schiavello Constructions during the the Club which are being re-modelled on impacts of Coronavirus remain uncertain financial year. a regular basis to take into account the but over recent weeks some things have For the full year the Club spent $3.280M impacts of Coronavirus pandemic. become a little clearer. Importantly, I can in capital expenditure which was funded I will present an updated 10-year cashflow confirm that whilst there have been a from the cash operating surplus of forecast at the Annual General Meeting small number of hardship requests, natural $1.180M for the year as well as our to explain the financial impact of the attrition of members is in line with prior opening cash reserves of $2.971M. The Coronavirus on our longer-term financial years. Whilst there is some uncertainty with clubhouse redevelopment was the major modelling that has previously been the budget due to COVID-19 restrictions, capital project for 2019/20, with progress presented to the membership. up to the end of May, the Club’s reduced payments of $2.9M processed during the I take this opportunity to thank my fellow trading income has been managed year. Other smaller projects included the Committee members for their valued through reduced staffing and government redevelopment of the 17th green and assistance and contributions over the last assistance including the Cashflow Boost commencement of the 13th green and 12 months on the Finance Committee. and JobKeeper, with the Club’s finances 12th tee project. The balance of capital We have held many long meetings and not being negatively impacted. It should be expenditure was for replacement assets to separate strategic discussions on key noted that extended restrictions will have a operate the Club. financial and membership topics, all of negative impact on the Club’s finances as CLUBHOUSE PROJECT which are focused on improving Kooyonga we rely on catering and guest income and Prior to commencement of the clubhouse and the value of your membership. visitor functions for net income. redevelopment project, Committee Crawford Giles As to the long-term impacts, modelling informed the members that the clubhouse Chair – Finance, Audit, Risk & Governance will continue to evolve as we come to project cost would be $7.85M including terms with the economic fallout from the contingency, professional fees, furniture Pandemic and changes in community and equipment. The Club has now funded and member behaviour. What we have close to 50% of the total project cost, experienced to date is greater demand with $3.9M classified as “Capital Works in for member access to the course and a Progress” in the Balance Sheet as at 31 clear message of how important the Club March 2020. The project cost has remained is to the mental health and wellbeing of closely aligned to original projections, members. however due to latent conditions that occur It is pleasing that restrictions are being with renovations projects and a few minor slowly reduced and seem to be largely enhancements approved by Committee, coinciding with the completion of the the total cost is now expected to finish clubhouse redevelopment. Members and slightly above $8M, some 2.5% over budget. staff alike have enjoyed the ‘return to the As previously advised, the project was to new normal’ and the interaction both pre be funded from the cash reserves of the and post golf. Club mentioned above and a loan facility of I can assure members that Committee will $5.5M in place with the Commonwealth continue to make operational and financial Annual Report 2019/20 Page 16

Annual Report of the Committee Membership Playing Male Female 2018/19 Male Female 2019/20 Category 4 4 Total 4 4 Total 8 8 Life 1 2 1 2 495 23 3 499 25 3 Honorary Membership 127 196 518 126 198 524 Category One 188 46 323 194 43 324 Category Two 5 0 234 4 0 237 Absent 20 2 5 19 2 4 Clergy 114 72 22 113 71 21 Country 21 4 186 23 2 184 Honorary Social 19 6 25 27 6 25 Interstate 9 7 25 9 9 33 Junior 0 1 16 0 1 18 Junior Cadet 4 1 1 0 0 1 Junior Country 32 4 5 30 3 0 Junior Ambassador 1 0 36 0 0 33 Overseas 10 0 1 10 1 0 Reciprocal 1 0 10 5 3 11 Senior 16 11 1 6 9 8 Social 22 2 27 25 1 15 Temporary 30 0 24 20 1 26 Under 30 (18-24) 1 0 30 0 0 21 Under 30 (25-29) 0 1 1 0 1 0 Veteran 1,120 382 1 1,115 382 1 Veteran Associate 1,502 1,497 Our total membership It is now close to 12 months since the Committee decided numbers declined to return our entrance fee to a multiple of three (3) times slightly over the last 12 the Category 1 subscription fee. Since this change in policy months from 1502 to 1497, that has our current entrance fee set at $13,065, a number although the total number of members have queried whether this has impacted our of playing members ability to attract new members. While it will take 2-3 years to increased by 3. We had 42 fully assess, we haven’t seen a concerning pattern of decline playing members either in interest to join the Club, with regular inductions of new resign or transfer to a members. Importantly, we need to continue to provide a non-playing category in premium membership experience in line with our strategic 2019/20, an attrition rate vision to ensure we remain attractive to new members. of just 4% compared to All members can assist by acting as “ambassadors” and an average of 7% over the promoting the benefits of membership to prospective last 5 years. To offset this members. reduction, we inducted 45 new playing members to the Club in 2019/20 compared to 57 in the 2018/19 year and an average of 47 new members inducted per year over the last 5 years. Annual Report 2019/20 Page 17

Annual Report of the Committee Membership The quota for Category 1 remained at 525 members in improve member comfort levels on the course and ensure 2019/20 after we reached our planned reduction of 50 we maintain our status as a premium golf club, however members over the previous 2-3 years. This reduction from such a reduction needs to be balanced with its impacts on 575 to 525 Category 1 members returned our quota for subscription fee income for the Club to remain financially this full playing category to long term historical levels. As strong. previously outlined, this change was aimed at improving As I write this report, the initial impacts of Coronavirus on access to the course and speed of play for Category 1 our membership base is becoming clearer, with our attrition members, in particular on Saturdays. rate since March 2020 currently sitting at 5% and projected During 2019/20 the average field size on a Saturday to finish at 7.5% after hardship requests and unfinancial actually increased by 4% to 176 compared to 169 in the members are settled mid-year. As I mentioned earlier, our 2018 calendar year and an average of 170 over the last 5 average annual attrition rate over the last 5 years has been years. This increase in course access on a Saturday suggests 7%. While there has not been a drastic reduction in playing further reduction in the number of Category 1 quota may numbers to cause concern to date, the full effects on our be required after assessing the impacts of removing playing membership base may not be felt for the next 12-18 months rights for Category 2 members on a Saturday as from 1 April and will need to be carefully monitored by Committee. 2020. As mentioned on a number of occasions, the Committee For the 2019/20 membership year, the total number of has been concerned with the decline in the number of rounds of golf at Kooyonga declined by 2.3% from 49,500 women playing members over recent years. I am pleased to 48,350. It must be noted, however, that impacts of to report that we achieved a small increase of 4 women Coronavirus in March 2020 accounted for 75% of the 1,150 playing members in the 2019/20 membership year after decline in rounds. In line with prior years, 85% of all rounds an average annual decline of 10 women playing members at Kooyonga are played by members, with the average over the last 5 years. We were able to attract 4 new women member playing more rounds of golf each week than in to join the Club, while a further 5 women upgraded from our previous years. introductory programs, a sign of success for our 6 month Committee continue to assess all opportunities to reduce ‘Tee off with Friends’ temporary membership and 12 month our rounds of golf by at least 10% and has set a target ‘Pathway to Membership’ programmes. of 45,000 annual rounds in our updated strategic plan, While this is a positive step in the right direction, over the which may require the reduction of a further 100 playing coming year, the Membership Committee will be working members through natural attrition. This strategy would closely with the Women’s Sub Committee to develop WELCOME TO NEW MEMBERS DURING 2019/20 (in order of admission) APRIL MAY JUNE AUGUST AUGUST (cont) Mr C Lockhart Mr MJ Rankmore Mrs J Wright Mr N Bradshaw Mr AW Marshall Mr A Ross Capt M Sumner Mr LSL Hoy Mrs JE Jones Mr NG Wellman Mr BJ Lynch Mrs HC Swain Mr DA Ashby Mr A Lattas Mr HW Brennan Mr I Wood Mr MD Pierce Mr D West Ms E Vaughan Roder Mr FGA Cassell Dr DA Lewis Mr TP Carracher Mr CL Wignall Mr C Sulicich Mr B An Mr BJ Massey Mr CJ Zhang Mr BP Jenke Mr JR Howard Mr JDS Thomas Mr TJ Howard Mr AM Williams Mr DMK Grant Mr OJ Piro Mr NDS Thomas

Annual Report of the Committee Membership additional programmes to attract new women members to members has been enhanced with the success of our junior our Club and implement other strategies outlined in Golf pathway and coaching programs run by Daniel Blackwell. Australia’s “Vision 2025: The future of women and girls in We also recently established a young members taskforce golf” which sets out how golf in Australia can become a following a workshop with a group of interested younger sport where women and girls are inspired to participate, members. The taskforce will discuss opportunities to feel welcomed and nurtured throughout, and developed to enhance the membership experience of younger members achieve their goals. with a particular focus on organising and promoting golf A positive initiative introduced by Committee in early 2020 and social functions for younger members. It is hoped such in response to Vision 2025 was to amend playing rights for events for younger members will encourage friends and Category 1 women members to provide advance booking family of members to consider Kooyonga as the club of rights on a Tuesday to provide similar booking advantages choice. for Category 1 men and women and provide an extra With the clubhouse project nearing completion, I remind incentive for women to take up Category 1 membership. members of the Social membership category introduced last At the time we only had a small cohort of 25 women who year to encourage current members considering resignation had elected to upgrade to Category 1 when previously to retain a financial and social interest in the Club. The new offered, which accounted for less than 15% of all women Social category is also aimed at attracting non golfing family playing members. This percentage was disproportionate and friends of members to join the Club and enjoy the with the male Category 1 percentage at 80% of total playing clubhouse facilities and social activities at Kooyonga. members, indicating lack of incentive for women to upgrade. Committee will conduct another comprehensive member I am pleased to report that 14 women have since upgraded survey towards the end of 2020, hopefully post Coronavirus to Category 1 membership, improving gender diversity, and to better understand the views of members and identify providing opportunity for more women to be nominated areas of the Club that require attention. The results will and elected to General Committee and aspire to future be benchmarked against previous surveys conducted to leadership roles within the Club. ascertain areas of improvement or decline in certain areas Following changes that were introduced to our junior to assist the Committee’s ongoing review of operations. and young member category age brackets at the 2019 Geoff Kay Annual General Meeting to provide a more competitive Chair – Membership & Member Services junior membership offering, I am pleased to report that we attracted 22 new junior and under 30 members to the Club over the last 12 months. Our ability to attract younger SEPTEMBER OCTOBER FEBRUARY MARCH TEMPORARY Miss AL Dolling Mr MR Bartsch Mr SC Lee Mr MJ Arnfield Mrs PL Ascough Miss EP Dolling Mr DP Schirripa Ms IC Tye Mr P Jessen Mr JT Hazel Mr AD Coro Mrs SL Howard Dr C Hildyard Mr B Kendrick Ms L Ristiyani Mr CJ Hildyard Dr P Rezaian Dr AJ Markwick Mrs SE Wurm Ms C Strachan Mrs S Beavis Mrs SH Templeton Mr NC Hawkes Miss GE White Mr AJ Medhurst

IN LOVING MEMORY John Blunden 4 APRIL 1930 – 15 FEBRUARY 2020 It was with great sadness that we learned of the passing of John Blunden earlier this year. He was a tremendous stalwart of the Club, having served in many capacities. He joined Kooyonga in 1974 from the Tea Tree Gully Golf Club and was joined by his brother, Bill in 1977. John was not a ‘championship’ golfer, however he did win his share of club events including the B Grade Trophy on two occasions in 1995 and 1998. He stood for Committee in 1990 and was elected. He went on to Chair the House Committee and in 1998 Chaired the ever important Match and Green’s Committee. I was fortunate to have John as my Vice Captain in 1997 and 1998, as his meticulous manner and wise commentary was of great benefit to me. He subsequently became Club Captain in 1999 and 2000 and his wise and meticulous counsel enabled him to serve the Club with great distinction and leadership. He was deeply involved in the Club’s 75 year celebrations, finalised the installation of the course automatic watering system, assisted in the appointment of Steven Newell as the Course Superintendent and guided the implementation of the Course Master Plan which had been formulated over the previous two years. Some of the factors involved in that Master Plan are still well in vogue today. John was elected the Club’s President 2015-2017. As previously, he took this position most seriously and was always available to assist current administrations when asked. Outside of golf John was a strong family man with his wife Fay, also a long term Kooyonga member, they had five daughters and a son who unfortunately died prematurely. He was a great Aussie Rules football player, having been a two-time premiership player for his beloved North Adelaide Football Club. He won the Club’s A Grade Best and Fairest Award on two occasions. After his playing career had finished he became a member of the Club’s Committee, serving as it’s Chairman for many years. He was granted Life Membership of the SANFL. A lot of Kooyonga members will recall the 1952 Grand Final in which North Adelaide defeated the more fancied Norwood side. It was in this match that the famous and much publicised mark was taken by Ian McKay over Norwood’s Pat Hall. John always indicated that it was he who had actually kicked the ball for McKay to take that mark. He would also concede that sixteen other players could make the same claim! It could have been the influence of his Captain, Ian McKay for John to come to Kooyonga as Ian had become a member of our Club in 1975. John, together with his brother Bill, successfully ran the family building business W.H. Blunden Pty Ltd. Up until 1980 I was involved in the building industry as a supplier and as a sub-contractor and like many in those fields, we were always pleased when Blunden won a contract as we knew the job would go well and most importantly, we would be paid! Many architects of the day were glad to see Blunden on their tender list and even more pleased if they won the tender, for they knew the job would be done well and on time – such was the reputation of the people involved. A great number of older Kooyonga members will remember John with great warmth and respect. We all share the grief of John’s family at this time and we trust we will continue to see brother Bill at the Club for many years. Well played John. Bill Johnson Club Archivist IT IS WITH SADNESS THAT WE RECORD THE DEATHS DURING THE YEAR OF THE FOLLOWING MEMBERS; Mr MB Hosking, 6 April 2019 Mr AF Carolan, 12 October 2019 Mr K Dingwall, 7 March 2020 Mr DJ Maddock-Jones, 17 June 2019 Mr TJ Haupt, 11 November 2019 Mrs J Hockney, 3 March 2020 Mrs PB Leaney, 17 September 2019 Mr DL Clements, 22 December 2019 Mr DW Martin, 2 April 2020 Dr K Griffiths, 29 October 2019 Mr JV Blunden, 15 February 2020 Dr DM Southwood, 9 April 2020 Mrs EM Jackson, 8 October 2019 Mr DLR Fraser, 2 March 2020 Mr NH Rose, 8 October 2019 Dr RJ Odgers, 4 March 2020

A CELEBRATION OF LIFE David Martin 26 OCTOBER 1953 - 2 APRIL 2020 It is with an extremely heavy heart that I write this article to acknowledge and celebrate the life of David Martin who passed away in April. Following the recent death of John Blunden, we have lost another member of Kooyonga royalty. David was an eminent, low-marker golfer with a smooth, methodical swing, for which many of us were extremely jealous. He represented the Club fifty times in the Simpson Cup, winning on twenty-six occasions and halving twice. This is a very fine win/loss ratio in a very strong competition. He won many Club events including being a medallist on ten occasions. David Joined Kooyonga in 1974 and soon came under the influence of two people, Bay McDonald and Graham Keane. Both these gentleman had forged great reputations in golf administration. They both had been Club Captains, Presidents of SA Golf and Presidents of the National Australian Golf Union. It was not long before David became one of Kooyonga’s delegates to SA Golf, a position he held for well in advance of 20 years. He became its Vice President in 1994, remaining so until 2005 when he became the President. He was still President at the time SA Golf and SA Ladies Golf merged in 2008. Most of this time he was a South Australian delegate to the Australian body 1994 to 2008 when the Australian Golf Union merged with the Australian Ladies Golf Union. He remained on the new Board until 2010. If this merger had not taken place for two years, David was ear marked to become the old Australian Golf Union’s President. He was elected to manage the Australian Amateur Men’s team when it toured New Zealand in 2004. His contributions at a State level included being on SA Golf’s executive Committee for 15 years. Also, he was on the Committee which staged the major tournaments we enjoyed between 1996 and 2006. These tournaments at Kooyonga included the SA Open, SA Ford Open, Jacob’s Creek and Nationwide Opens. I first met David in 1973. He was a nephew of the Administrator at Prince Alfred College and was enjoying some work experience at the College at that time. He was a genial, quiet, self-motivated young man who endeared himself to the College staff. This took place during holidays while he was studying for his Law Degree. Golfing genes were well and truly engrained in David as he was a nephew to the great Bill Shephard one of, if not the greatest player to have been a member of our Club. His mother Gwen, was Bill Shephard’s sister. David’s two cousins, Sandy Robinson and Skye Jarvis who are daughters of Bill, are still very much involved at Kooyonga. He was elected to Kooyonga’s Committee in 1988, became Vice Captain in 1993/94 and then Captain for the years 1995/96. I served as his Vice Captain in this time. He became the Club’s President in 2012/13, but due to ill health, did not complete his three year term. I was privileged to propose him for Life Membership of our Club in 2013, which was unanimously endorsed by the members. At the conclusion of our 75th celebrations in 1998, David wrote me a letter thanking everybody connected with the activities. I want to share two things he outlined in said letter. Firstly, after saying what a marvelous week it was, he wrote (and I quote) “I have always been proud to be a Kooyonga member, I am now even prouder, if that is possible”. Then, his last sentence, and I quote “Only one question remains – how do we top that in 25 years?”. He was always of the opinion that more should be done to educate new and young members of the Club in the history in the development of the Club, that they are now to inherit. David was 66 years of age when he passed away, still a relatively young man. However, the last seven or so years of his were very difficult times for him. Suffering from a severe disease which necessitated him travelling to the dialysis clinic at Payneham twice, sometimes three times, a week were extremely laborious. But he was a fighter and until recent times, he was still able to make his way to Kooyonga to keep in contact with his host of friends. He might not have been able to complete 18 holes on some occasions, other times he would arrive not to play, just to have a coffee and a yarn. He will be sorely missed, the world needs more people like David. Well played David, rest in peace. Bill Johnson Club Archivist

Annual Report of the Committee Match Kooyonga has had Average Weekly Competition Fields another busy year with regular daily competitions Tuesday Wednesday Saturday and major Club events well patronised prior to 2015/16 94 167 159 COVID-19 restrictions that halted competition golf in 2016/17 79 167 172 mid-March 2020. Thank you to all members for their 2017/18 81 166 174 participation and the spirit in which golf is played at 2018/19 92 164 169 our Club, in particular over the last couple of months 2019/20 91 160 176 as we have contended with restricted tee times and social only golf due to The average field sizes on our key competition days of Coronavirus. Tuesday, Wednesday and Saturday remain reasonably Approximately 48,500 rounds were played at Kooyonga consistent as can be seen in the table provided above. in the last year, 86% of which were member rounds. The The small increase in Saturday field sizes was partly due numbers would have been greater were it not for COVID-19 to growth in Category 2 member access to the course and the Committee has some concerns about the increasing on a Saturday, however with playing rights for Category 2 number of rounds played due to increased wear and tear on members on a Saturday removed from 1 April 2020 we do the course. In fact, member rounds are up 20% over the last not expect further growth in the year ahead. 5 years, with no signs of abating in the foreseeable future, The Match Committee will continue to review ways of with Coronavirus restrictions likely to see more demand for reducing the number of rounds which may include different member rounds as evidenced in recent months. competitions being introduced on some days, increased time intervals or other measures. Introduced Visitors, 4464 Corporate Golf, 1284 Speed of play appears relatively stable at Kooyonga on key Special Events, 949 competition days with the overall average round completed in 3 hours 55minutes and 25 seconds, just 20 seconds Social Rounds (estimate), 10132 longer than the average reported last year. The Rules of Golf have no doubt assisted over the last 12 months with the time allowed to look for lost balls reduced from 5 minutes to 3 minutes. Committee continue to monitor time per round reports and conduct marshalling to help keep a track of offending members and educate them on ways to improve their place in the field. I encourage all members to assist by keeping up with the group in front. Competition Rounds , 31509 The General Committee had many discussions about the red penalty area between the 9th and 10th holes and concluded that the area which was defined by the red stakes was too expansive and generous in terms of relief, in particular on the side of the 10th fairway. Ultimately the decision was made to follow the same methodology that Golf Australia uses to define the penalty area. When the changes were made it was recommended that if a golfer hits his/her ball into the scrub/tree area and is not at least 95% certain that the ball is at rest in the burn then that golfer should play a provisional ball under Rule 18.3. With golfers now only having 3 minutes to look for a lost ball which previously had been 5 minutes as mentioned earlier, it was thought that the speed of play should not be as much of an issue as in the past. Annual Report 2019/20 Page 22

Annual Report of the Committee Match Early in 2020, the Committee made a change to the Saturday i.e blue, white, red, yellow, etc. These changes will continue prize allocation to increase the prize value for the top 5 to be reviewed over the coming months when competitions placegetters in each grade to reduce the overall distribution resume. of down the line prizes nearer to 30% of the field. A review of As part of our ongoing review of the difficulty of the course, prize distribution had identified that prior to this change, up together with hole indexes and grades at Kooyonga we to 39% of the Saturday field were winning prizes with scores analyse average stroke scores by hole and compare against as low as 29 points for a stableford round. The change now historical trends. Above is a table that highlights very little reflects 31.5% of the field winning prizes with the average change in the difficulty of the course over the last 5 years, lowest winning score at 31 stableford points. with subtle differences each year depending on the holes Prize allocations throughout the week have also been out of play for renovation and other minor anomalies. Apart slightly modified following the implementation of the World from average stroke score data per grade, this analysis Handicap System. A decision was made to play mid-week confirms that the 8th and the 10th holes are well and truly competitions as mixed daily competitions from multiple the hardest holes on the course for scoring across all grades, tees i.e. white, red, yellow, etc. to be run on Mondays, while the 5th and 9th are the easiest holes at Kooyonga. No Tuesday afternoons, Thursdays, Fridays & Sundays rather changes were made to hole by hole indexes, although a plus than as two single gender competitions. The Wednesday handicap index was created for the first time to better reflect men’s competition was also changed to be played as one the difficultly of the course for scratch or better golfers. competition in grades from any available tee on the day, AVERAGE STROKE SCORES BY GRADE - MEN 2019 2018 Elite - 0-5 handicaps 2017 A Grade 2016 B Grade C Grade 2015 70 72 74 76 78 80 82 84 86 88 90 92 94 96 98 100 102 104 106 AVERAGE STROKE SCORES BY GRADE - WOMEN 2019 2018 Elite - 0-5 handicaps 2017 A Grade 2016 B Grade 2015 C Grade 70 72 74 76 78 80 82 84 86 88 90 92 94 96 98 100 102 104 106 108 110 112 114 116 118 120 Annual Report 2019/20 Page 23

The table of competition results included in this annual report acknowledge individuals and teams who have achieved golfing success over the last 12 months but it would be remiss of me not to mention some of the highlights. Firstly, there was a great atmosphere at Kooyonga for the finals of the 2019 Men’s & Women’s Club Championships. To add to the day, all past Club Champions who were not involved in the Championships were invited to play prior to the match play finals and this is a custom we plan to continue in the years ahead. The Men’s Club Championship was won for a second year in a row by William Somerfield who defeated Joel Durnford in the 36-hole final. Great effort Will. Congratulations also to Robert Brice who defeated John Elliott in the B Grade Trophy, Angas Hains who defeated John Garrett in the C Grade Trophy, Trent Kramer who defeated Richard Fleming in the A Grade Plate and Philip Laity who defeated Bernie Bowler in the B Grade Plate. Spectators watched a thrilling final in the Women’s Club Championship which resulted in Jill Trenorden winning on the 38th hole. Jill defeated seven-time Club Champion and true competitor Lyn McGough. Fabulous work Jill! Congratulations also to Mary Beamond who defeated Anne Donnelly in the Bronze Cup, Gill Hicks who defeated Lesley Brown in the C Grade Salver, Jane Hunter who defeated Jo Woods in the A Grade Plate, Carol Smith who defeated Nol Parkyn in the B Grade Plate and Elizabeth Heath who defeated Cris Pollard in the C Grade Plate. A fabulous second round of gross 68 determined the winners of the 2019 Men’s Foursomes Championship. Congratulations to Kyle Hayter & Frank Vucic who won the Championship with a 36- hole gross score of even par by three shots from Will Somerfield & Darcy Salamon. Well done also to Leon Holmes & Rod Marsh who won the Handicap Foursomes competition. The Women’s Foursomes Championship was played over a week with the qualifying on the Monday & Tuesday and the match play rounds on the Thursday & Friday. In the final of the Women’s Club Foursomes Championship (Ross Sawers Championship) Christine Flynn & Barbara Burnet defeated Merry Frogley & Jane Hunter. Well done also to Pam Marshall & Mary Beamond who defeated Barbara Rasmussen & Sue Fuller in the Bantick Salver (Women’s B Grade Foursomes) and Robyn Burgan & Lesley Brown who defeated Elizabeth Heath & Cassi Heath in the Olive Griggs Cup (Women’s C Grade Foursomes). Congratulations to our 2019 Club Champions From top left: Will Somerfield, Men’s Club Champion Jill Trenorden, Women’s Club Champion Gary O’Loughlin, Men’s Senior Club Champion Frank Vucic, Boy’s Club Champion Matilda Miels, Girl’s Club Champion

Annual Report of the Committee Match RS THOMSON WINNERS, SARAH GOWER & RS THOMSON RUNNERS-UP, PIP OXENHAM CRAIG WECKERT (ABSENT FROM PHOTO) AND CRAWFORD GILES A new format was implemented for the 2019 Junior Boys Due to poor weather at Augusta, a replay of The Masters Championship which included 36 holes of qualifying with was watched prior to the commencement of The Masters four junior boys to qualify for match play. Congratulations to competition at Kooyonga. Our event was supported by 118 Frank Vucic who defeated Darcy Salamon 2/1 in the final and keen participants who were excited to play off the back tees well done also to Alex Nemer who defeated Jack Speirs on the with hard pin placements and fast greens. Congratulations to 19th hole in the Junior Boy’s Handicap Match Play final which Peter Hoffman who won the 2019 event with a nett score of was played at the same time. 71 by four shots from George Waterhouse. Well done Peter! The Junior Girls Championship was played over 18 holes The 2019 Bonython Medal, a highly competitive event which and congratulations to Matilda Miels for winning the 2019 brings together all of the male monthly medal winners from Championship. Matilda won by three shots from Emily Giotis. the previous year, was won by Col Alexander. Col won the Congratulations Matilda! event with a nett score of 71 by three shots from Anthony The popular and most prestigious mixed golf event at Walsh. Well done Col! Kooyonga, the RS Thomson Mixed Canadian Foursomes, was again well supported in 2019. Congratulations to Craig Weckert & Sarah Gower who won the event with a score of 73.625 by three shots from Crawford Giles & Pip Oxenham. KOOYONGA MASTERS’ GOLF EVENT WINNER, 2019 BONYTHON MEDAL WINNER, PETER HOFFMAN COL ALEXANDER Annual Report 2019/20 Page 25

Annual Report of the Committee Match The Kooyonga Premier Leagues (men & women) continue The Men’s senior and veteran’s events are well supported to gain momentum and are fun events played on Tuesdays each year and 2019 was no different. Congratulations (women) and Wednesdays (men). to Gary O’Loughlin for defeating Lindsay Elliott in the Congratulations to the Ginge team who won the 2019 Senior Championship and to Gerry Green for defeating Kooyonga Men’s Premier League for a second time. The Colin Alexander in the Senior Handicap competition. In team consisted of Gary Allison, Bevan O’Connor, Kym Duval, the Veteran’s Trophy congratulations to Peter Marshall for Mark Mitton, Paddy Bowler and Geoff Kay. In the final, Ginge defeating Graeme Smith and to Peter Castley for defeating defeated Team A which comprised of Ken Parker, John Walford Thyer in the Veterans Handicap competition. Well Anderson, Richard Payne, Keith Plummer, Chris Muirhead done to Gary, Gerry, Peter & Peter! and Lindsay Elliott. Congratulations to the Ginge team Royal Adelaide defeated Kooyonga in The Cargie which was and a special mention must be made for their matching played in October 2019. This is a competition which requires team uniforms. The individual honours for the season, the a strong performance from the teams playing at home Men’s Brownlow Medal for Golf at Kooyonga, was awarded and unfortunately this year we didn’t win enough matches to joint winners in 2019. Well done to Grant Laidlaw & at Kooyonga to offset the matches lost at Royal Adelaide. Keith Plummer for being named the dual Men’s Brownlow I’m sure the team will be ready and rearing to go when it is Medallists! played next to bring the trophy home. Congratulations to the Shining Lights team who won the For the 8th year in a row Kooyonga won the Airport 2019 Kooyonga Women’s Premier League. The team Challenge by defeating Glenelg at Glenelg 4 matches to 2 consisted of Ann Ewer, Sandy Robinson, Skye Jarvis, Diane matches. The number of players in each team this year was Bamford, Sandy Holmes and Dorothy Paterson. In the final reduced to 12 which will continue for the years to come. the Shining Lights team defeated the RAT PAC team which Both the men’s & women’s Kingston Heath Challenge comprised of Anna Wyett, Rosemary Cole, Jill Phillips, Jill events were renamed to honour the members who started Trenorden, Helen Egar and Ros Brown. Well done to the the events. The men’s event was named after our former Shining Lights team for a great season! The individual Captain/President, John Blunden and the women’s event honours for the season, the Women’s Brownlow Medal for was named after Liz Jackson who was loved at both Golf at Kooyonga, was awarded to joint winners in 2019. Kingston Heath and Kooyonga following her many years at Well done to Anna Wyett and Christine Flynn for being both clubs. named the dual Women’s Brownlow Medallists! TEAM GINGE, 2019 WINNERS TEAM SHINING LIGHTS, 2019 WINNERS KOOYONGA MEN’S PREMIER LEAGUE KOOYONGA WOMEN’S PREMIER LEAGUE Annual Report 2019/20 Page 26

Annual Report of the Committee Match Pictured above L-R: Stephen & Kym Duval, 2019 Father & Son winners, past Captain Ken Russell and Liz and Cassie Heath, 2019 Mother & Daughter winners The 2019 Women’s Kingston Heath ready to win back the Cup! In 2019 the It is always great to keep the trophy at Challenge, the Liz Jackson Challenge, event was halved so the 2018 winners, Kooyonga. was played at Kooyonga and was won Royal Adelaide, retained the trophy. In the Father & Daughter competition, by a very determined Kooyonga team Bring on 2021! Mitch Trenorden & Lane Trenorden won following the renaming of the event. For One of the standout events on the the 2019 event with the runners up the past few years the winning team has women’s golf calendar is the Valerie being George Giotis & Emily Giotis. In been the home team so hopefully we Hill Memorial trophy. The buzz around the Mother & Son competition, Christine can defend the title the next time the this year’s event was no exception Flynn & Alistair Flynn won the 2019 event is played away. with the result going down to the wire. event with the runners up being Jane The 2020 Men’s Kingston Heath Congratulations to the 2019 winner Hunter & Tom Hunter. Congratulations Challenge was played at the Kingston Melissa Emmett who won the event on to all. Heath Golf Club just prior to COVID-19 a countback from runner up Kayoko The 2019 Kooyonga Mother & restrictions being placed. It is always Miki. Melissa played solid golf in the final Daughter competition was won by a tough task to play a strong team at round scoring a nett 72 which won her Elizabeth Heath & Cassi Heath and the their home club and this year was no the trophy. Well done Melissa. runners up were Jill Trenorden & Lane exception with Kingston Heath winning The family golf events are gaining Trenorden. Great work girls! the event. There has not been a year momentum and it is great to see so Thank you to everyone who participated yet when the away team has won the many people involved. in the family events. Our goal is to competition. Good luck to the team It really was a family affair in the 2019 continue to grow the events and when they play away again in two years! Kooyonga Father & Son competition encourage more families to participate Unfortunately the 2020 MAKK with one family going head to head each year. Cup (Kooyonga v The Australian for the win. Congratulations to Kym v Metropolitan v Lake Karrinyup) Duval & Stephen Duval for winning scheduled for March at The Australian the event from Scott Duval & Tom Golf Club was cancelled due to Duval. Life Member Dot Duval must COVID-19. We hope to reschedule this be proud! The State Father & Son Cup event in 2021. which is also played at Kooyonga was It is unfortunate that the 2020 won by John Bowler & Patrick Bowler Cudmore Cup was also cancelled due to with the runners up being Philip Laity COVID-19 as the Kooyonga team were & Tom Laity. Well done to both pairs. Annual Report 2019/20 Page 27

Annual Report of the Committee Match Kooyonga had three state team representatives in 2019. team, fell just short. The Pike and A4 teams were beaten in the Congratulations to Matilda Miels for representing SA as a final whilst the Sanderson Cup narrowly missed the final in the member of the girl’s and women’s state team, Jake Rillotta for premier division. representing SA as a member of the men’s state team and Kyle The End of Season Pennant Cocktail Party was held on Sunday Hayter for representing SA as a member of the boy’s state team. 14 July, with the following individuals honoured with awards; In the 2019 SA Under 18 School Sport National Junior Frank Vucic won best individual player, awarded with the RK Championship, Matilda Miels was a member of the first SA girls’ Duval Trophy and Alex Nemer was awarded the NE Crafter team to win the team match play competition. Trophy for most improved player as well as the WS Rymill Trophy In the 2019 Under 12 School Sport National Junior for best junior player. The best pre-season performance award Championships, Olivia Giotis was instrumental in contributing to was presented to Darcy Salamon (Senior Captain’s Cup) and the SA girls’ team winning the team nett event. Kyle Hayter (Junior Captain’s Cup). The best female player Congratulations to Anna Wyett who was the winner of the awards went to Deb Percey for Women’s A1/A2, Ann Ewer for Division 1 SA metropolitan state-wide International Bowl Women’s A3/A4 and Wendy Monfries for Cleek 1/Cleek 2. competition. The International Bowl competition is a Golf Unfortunately the 2020 pennant season was cancelled due Australia (SA) event which is played over three nominated to COVID-19, however we look forward to another competitive Stroke rounds during the women’s winter season. The winner season in 2021. of the Division 1 (golfers with a GA Handicap of up to 18) In summary, we had another great year of golf at Kooyonga and International Bowl is the golfer with the best nett score from I trust members enjoyed the competition and variety of events the three allocated rounds and Anna achieved the best on offer. Unfortunately, as I write this report the 2020 golfing nett score of everyone in the state who participated in this calendar remains under a cloud due to COVID-19 restrictions. competition. Rest assured the Match Committee will are closely reviewing Our pennant season was one of near misses. Our Simpson Cup the programme with the aim of re-rescheduling as many men reached the semi-final against a very strong Grange outfit annual events as possible later in the year. I wish to recognise but unfortunately, it wasn’t our day and we were beaten. It Susie Mathews and the golf shop staff for their assistance to was a very similar story for our Bonnar Cup team, who despite coordinate and run all events on our golfing calendar, their a valiant fight, were beaten in the semi-final. The Sharp Cup professionalism and dedication to ensure our events run team who were defending their championship were unable to smoothly is greatly appreciated. I also acknowledge and thank reach the same heights of the year before, but a number of the the Match Committee for their valuable input and support over underage players made their senior debuts and will be much the last 12 months. better players in the future as a result of these experiences. Dr Angas Hains Our women’s teams worked tirelessly too but as with the men’s Chair - Match Committee FRANK VUCIC BEING PRESENTED WITH ALEX NEMER, WINNER OF THE NE CRAFTER & THE RK DUVAL TROPHY WS RYMILL TROPHIES Annual Report 2019/20 Page 28

Holes-in-One Congratulations to the following members who achieved a hole-in-one through the 2019/20 year: DAVID MATTNER, HOLE 3 5 April 2019 GEORGE GIOTIS, HOLE 19 10 May 2019 ANDREW FIELDER, HOLE 7 20 June 2019 DOROTHY PATERSON, HOLE 14 27 June 2019 JIM BURKE, HOLE 19 2 August 2019 GEOFF BOASE, HOLE 14 21 September 2019 TONY RENSHAW, HOLE 3 16 November 2019 GRAEME AGARS, HOLE 3 28 November 2019 PADDY BOWLER, HOLE3 18 December 2019 BOB FIDOCK, HOLE 3 28 December 2019 BOB HALL, HOLE 3 11 January 2020 GIL PICCINATO, HOLE 7 22 January 2020 TONY TIMMINS, HOLE 3 3 February 2020 MICK TAYLOR, HOLE 7 8 February 2020 THEO KRUYS, HOLE 7 17 February 2020 FRANK VUCIC, HOLE 14 22 February 2020 GARY O’LOUGHLIN, HOLE 19 14 March 2020

Annual Report of the Committee Competition Results Men’s Competition Results STATE EVENTS WINNER RUNNER-UP Simpson Cup Glenelg Grange Bonnar Cup Glenelg Grange CLUB EVENTS WINNER RUNNER-UP Club Championship Will Somerfield Joel Durnford WS Shephard Club Medallist Joe Hodgson Will Somerfield ‘A’ Grade Plate Trent Kramer Richard Fleming ‘B’ Grade Trophy Robert Brice John Elliott ‘B’ Grade Plate Philip Laity Bernie Bowler ‘C’ Grade Trophy ‘C’ Grade Plate Angas Hains John Garrett Club Senior Championship Club Senior Handicap Not Played Not Played Veteran’s Trophy Veteran’s Handicap Gary O’Loughlin Lindsay Elliott Club Foursomes Championship Club Handicap Foursomes Gerry Green Col Alexander Club Junior Championship Club Junior Handicap Pete Marshall Graeme Smith Monthly Medals Peter Castley Walford Thyer Junior Summer Trophy HL Rymill Championship Kyle Hayter & Frank Vucic Will Somerfield & Darcy Salamon Kooyonga Cup Bonython Medal Leon Holmes & Rod Marsh Dennis Ryan & Bill Johnson Playfair Putter TH Brown Trophy Frank Vucic Darcy Salamon JW McGregor Cup Captain’s Trophy Alex Nemer Jack Speirs Anzac Cup Anzac Memorial A: Gary Allison, Dave Terrell, Kevin Phelps, Bruce Lindner, Frank Vucic, Chris Champion (2), Father & Son Cup FS Mann Winter Eclectic Graham Parker, Chris Muirhead, Sean Bushby, Keith Barnard, Tony Timmins Summer Eclectic B: Alex Gray, Bob Hall (2), John Holyoak, Geoff Boase, Simon Lovering, Andrew Kennedy, Simon Lovering, Peter Cameron, Dean Hatwell, Trevor Dolman, Stephen Daniels Winter Four-Ball Summer Four-Ball C: Garry Johns, Angas Hains, Neil Scrutton, Bob Babidge, Bill Johnson, Nick Conolan, Leon Holmes, Pete Williams, Ken Kinnane, Jim Corbett, Tim Collin, Sav McGill Jack Holland (Royal Melbourne) Tom Addy (Joondalup) Jack Tanner (Glenelg) Billy Cawthorn (Royal Adelaide) Colin Coleman (Grange) Bruce Lindner Col Alexander Tony Walsh Jordan Percey Will Somerfield Rod Marsh Gary Allison David Fraterman Nick O’Connell Keith Barnard Dave Terrell Jeff Rogers Quentin Gower Ivan Hutchin Anthony Burgan Kym Duval & Stephen Duval Scott Duval & Tom Duval A - Darcy Salamon A - Kevin Phelps B - Andrew Mattner B - Mark Noblett C - John Doyle C - Sav McGill A - Peter Hoffmann A - Garry Davis B - Peter Cameron B - Matthew Cleave C - Philip Michael C - Phillip Sanders Kevin Phelps & Michael Coro Alex Sawers & Karl Kirsten James Swift & Tom Radford Bernie Bowler & Trevor Dolman Annual Report 2019/20 Page 30

Annual Report of the Committee Competition Results Mixed Competition Results STATE EVENTS WINNER RUNNER-UP Sharp Cup The Vines Grange Junior Division 2 Pennant Combined Country Tea Tree Gully CLUB EVENTS WINNER RUNNER-UP RS Thomson Craig Weckert & Sarah Gower Crawford Giles & Pip Oxenham Father & Daughter Mitch Trenorden & Lane Trenorden George Giotis & Emily Giotis Mother & Son Christine Flynn & Alistair Flynn Jane Hunter & Tom Hunter Family Mixed Foursomes Sam Williams & Jill Trenorden Robert Fidock & Lisa Brien Club Mixed Foursomes Championship Bevan O’Connor & Hayley Hunt Darcy Salamon & Matilda Miels Mixed Four-Ball David Garrett & Anne Brown Trevor Hockley & Suzanne Hockley Handicap Foursomes Alex Nemer & Olivia Giotis Byron Egan & Kally Egan The Masters at Kooyonga Peter Hoffmann George Waterhouse Women’s Competition Results RUNNER-UP STATE EVENTS WINNER Grange Mid North Women’s A1 Pennant Glenelg West Lakes Women’s A2 Pennant Grange Kooyonga Women’s A3 Pennant Glenelg Mt Osmond Women’s A4 Pennant Grange Grange Women’s Cleek 1 Flagstaff Hill Women’s Cleek 2 Thaxted Park CLUB EVENTS WINNER RUNNER-UP Club Championship Jill Trenorden Lyn McGough ‘A’ Grade Plate Jane Hunter Joanne Woods Bronze Cup Mary Beamond Anne Donnelly ‘B’ Grade Plate Carol Smith Nol Parkyn ‘C’ Grade Salver Gill Hicks Lesley Brown ‘C’ Grade Plate Elizabeth Heath Cris Pollard Ross Sawers Championship Christine Flynn & Barb Burnet Merry Frogley & Jane Hunter Bantick Salver Pam Marshall & Mary Beamond Barbara Rasmussen & Sue Fuller Olive Griggs Cup Robyn Burgan & Lesley Brown Elizabeth Heath & Cassi Heath Vice Captain’s Foursomes Marie Hicks & Melissa Nelligan Debra Percey & Zoee Dolling Club Junior Championship Matilda Miels Emily Giotis Junior Girls’ Invitational Justice Bosio (Caboolture) Poppy Harrington (Redland Bay) Captain’s Trophy Skye Jarvis Gill Hicks President’s Trophy Lisa Brien Melissa Emmett Valerie Hill Trophy Melissa Emmett Kayoko Miki Mother & Daughter Elizabeth Heath & Cassi Heath Jill Trenorden & Lane Trenorden Monthly Medals (Tuesday) A: Jill Trenorden (2), Louise Pittman, Debra Percey, Merry Frogley, Ann Ewer Monthly Medals (Saturday) B: Louise Bowler, Jane Hunter, Anna Wyett, Melissa Emmett, Anne Donnelly, Margaret Foley C: Christine Walsh, Marg Johnstone, Heather Sawyer, Gill Hicks, Pauline Nietz, Lesley Smith Barbara Gower (3), Sandy Robinson, Zoee Dolling, Barb Burnet, Debbie Alexander, Jayne Ingerson, Jill Trenorden, Helen Egar (September & January not played) Annual Report 2019/20 Page 31

Kooyonga Golf Club Strategic Plan 2020-25 Overview Course KEY OUTCOME BY 2025 Continue to enhance the course in line with approved Kooyonga to be firmly concept plans prepared by our course architect entrenched as one of the Develop and maintain a vegetation management plan premier championship and policy guidelines courses in Australia and Continue to provide sufficient resources to ensure the recognised for it’s superb course can be presented to the highest standard all conditioning and playability year round all year round Finalise design, costing and approvals for upgrade of maintenance facility, including additional storage capabilities and enhanced staff amenities Complete the design and implementation plan for a new, technologically advanced irrigation system to deliver water both efficiently and cost-effectively Golf Operations KEY OUTCOME BY 2025 Continue to encourage members to maintain a The number of rounds of golf satisfactory pace of play at Kooyonga has declined Develop a taskforce to organise and promote golf to less than 45,000pa to and social events for younger members reduce wear and tear on the Continue to develop programmes introducing course and improve member juniors and women to golf accessibility Enhance our brand through the success of pennant teams and individuals and hosting of major championship events Consider opportunities to reduce the number of golf rounds by 10% Clubhouse & KEY OUTCOME BY 2025 Continue to review the clubhouse and hospitality Hospitality The Kooyonga Clubhouse facilities, identifying deficiencies and opportunities atmosphere is alive, for improvement including planning for upgrade of progressive and vibrant with halfway hut, carpark and new on course toilet facilities much broader participation Develop a broader dining experience that better caters of membership accessing for all parts of the membership with wider dining hours a wider range of facilities and a focus on family involvement underpinned by first class Planning and implementation of Centenary service celebrations Develop a marketing plan for external functions to maximise profability with least inconvenience to the membership

Vision To be recognised as one of Australia’s premier golf clubs Mission To provide members with an outstanding experience on a championship golf course while offering first class facilities and services Continue to investigate new services, facilities and KEY OUTCOME BY 2025 Membership & partnerships that will offer added benefits We have established an Member Services to members inclusive membership Further develop strategies to attract and foster structure that provides growth in the women membership base financial stability for Further develop categories and fee structure to improved member attract and foster growth in the junior/younger enjoyment membership base within the Club Expand ‘try golf’ programmes and defined pathways to membership to attract new golfers to Kooyonga Consider strategies to reduce rounds to improve member comfort and available tee times Investigate, develop and implement a model of KEY OUTCOME BY 2025 Finance & external income for the Club to support conflicting We have diversified our Risk Management income enabling the funding goals of minimising fees and increased play by of a 15% reduction of our existing and new members current membership base without related increases Explore and generate external income through areas in subscription fees whilst of bequests, donations and commercial investments maintaining our ability to fund critical CAPEX projects Return the Club to net cash reserves at 31 March 2025 post the Clubhouse refurbishment enabling the Club to ensure it’s long-term financial stability Consistently monitor the external marketplace and benchmark financial and operational performance of the Club against leading clubs in Australia on an annual basis Continue to conduct regular member surveys with KEY OUTCOME BY 2025 Communications smaller focus groups inbetween The Kooyonga brand has been significantly enhanced Utilise modern technology tools to better understand and market to our membership through the Centenary celebrations Develop brand for Centenary celebrations Maintain and build on relationships with all external stakeholders and take opportunities to network within industry related fields

Financial Report For the Year Ended 31 March 2020 Content of Financial Statements Statement of Comprehensive Income 35 Statement of Financial Position 39 Statement of Changes in Equity 40 Statement of Cash Flows 41 Notes to and Forming Part of the Accounts 42 Statement by the Committee 55 Audit Report 56 Five Year Summary 58

Statement of Comprehensive Income For year ended 31 March 2020 Classification of Income and Expenses by Function 2020 2019 $ Restated Note $ Income 3,321,855 3,195,317 Memberships 53,320 21,444 Subscriptions Other 3,375,175 3,216,761 Total Memberships (133,525) (41,013) 225,747 223,233 House Contributions (as per supplementary information) Golf Shop Operations Contributions (as per supplementary information) 37,710 41,775 691 6,273 Other Income 21,315 Bank income 20,623 69,363 Profit on sale of plant & equipment 59,024 Other income 3,468,344 3,526,421 Total Other Income (33,107) (29,319) Total Income (973,608) (947,930) (1,739,522) (1,779,344) Expenses (as per supplementary information) (741,094) (800,605) (3,487,331) (3,557,198) Finance expenditure Administration expenditure 39,090 (88,854) Course expenditure House expenditure 220,399 290,342 Total Expenses 259,489 201,488 Operating surplus/(deficit) before Entrance Fees - 40,000 Entrance Fees (12,500) (13,212) Total Surplus/(Deficit) for Year 246,989 228,276 Amounts Received by Kooyonga Foundation for Golf Academy Women's Australian Open Total Comprehensive Income The accompanying notes form part of the financial statements Annual Report 2019/20 Page 35

Statement of Comprehensive Income For year ended 31 March 2020 (sTHuEpKOpOlYeONmGAeGnOLtFaCLrUyB iINnCfOoRPrOmRATaEDtion) STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 MARCH 2020 House Contribution Bar Sales 2020 2019 Less: Cost of Sales Restated $ Gross Profit (2020: 59.3%, 2019: 61.8%) $ 653,082 (266,032) 772,682 387,050 (294,788) 477,894 Food Sales 745,945 Less: Cost of Sales (370,459) 962,502 Gross Profit (2020: 50.3%, 2019: 52.1%) 375,486 (461,359) 501,143 Other Income 10,275 32,768 Total Trading Gross Profit 772,811 1,011,805 Less: (941,753) Salaries and associated costs (12,561) (1,076,398) Other direct expenses (14,591) (954,314) Profit/(loss) for the year (1,090,989) (181,503) Add: Unused catering levy (79,184) 47,978 Total House Contribution 38,171 (133,525) (41,013) Page 3 The accompanying notes form part of the financial statements Annual Report 2019/20 Page 36

Statement of Comprehensive Income THE KOOYONGA GOLF CLUB INCORPORATED For year ended 31 March 2020 (supplementary information) STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 MARCH 2020 SUPPLEMENTARY INFORMATION 2020 2019 $ $ Golf Shop Operations Contribution 558,743 502,772 Retail Sales (393,208) (350,515) Less: Cost of Sales 165,535 152,257 Gross Profit (2020: 29.6%, 2019: 30.3%) 68,433 51,099 Other Golf Operations Income 61,227 50,628 Tuition (net) 16,129 Driving Range 88,288 9,641 Hire Equipment 178,087 87,023 Club & Buggy Handling & Cleaning Fees 229,138 186,711 Competition Fees 76,026 243,044 Green Fees 177,999 87,803 Motorised Cart Fees 23,646 165,135 Trade days income 28,164 Other 1,084,508 1,061,505 Total Trading Gross Profit (7,284) (92,752) (7,225) Less Golf Operations Expenditure (14,707) (82,955) Buggy Expenses (29,385) (13,503) Depreciation (29,390) (25,677) Driving Range (32,876) Other (7,690) (20,032) Pennant Expenses (2,913) Promotion & Communication (516,516) (118) Repairs and Maintenance (158,124) (491,890) Salaries & Associated Costs (858,761) (163,996) Trophies & Prizes (838,272) Total Golf Shop Operations Contribution 225,747 223,233 The accompanying notes form part of the financial statements. SUPPLEMENTARY INFORMATION (CONT.) Page 4 The accompanying notes form part of the financial statements Annual Report 2019/20 Page 37

Statement of Comprehensive Income For year ended 31 March 2020 (sTHuEpKOpOlYeONmGAeGnOLtFaCLrUyB IiNnCOfRoPrOmRATaEDtion) STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 MARCH 2020 Course Expenditure: 2020 2019 Bore maintenance, electricity & water costs $ $ Chemicals, turf & sundry expenses Consultants fees 74,371 74,843 Course maintenance 191,158 195,805 Depreciation Petrol, oil & lubricants 7,933 10,304 Plant maintenance 48,578 46,962 Vegetation & Tree Maintenance 379,257 402,573 Wages & associated costs 21,061 21,326 58,068 54,076 22,499 22,438 936,597 951,017 1,739,522 1,779,344 House Expenditure: 414,528 421,107 Depreciation 88,477 96,690 Cleaning 44,874 64,328 Maintenance 81,547 99,415 Light, power & gas 30,653 31,443 Laundry 30,194 29,052 Upkeep of Surrounds 50,821 58,570 Other 800,605 741,094 7,700 Administration Costs: 2 7,900 24,336 Auditors remuneration 26,867 36,306 Committee expenses 51,318 37,043 Computer software & website expenses 42,534 23,218 Insurance premiums and claim expenses 17,665 112,572 Printing, stationery, postage & telephone 113,817 597,963 Rates & Taxes Salaries & associated costs 632,792 7,176 Membership Promotional & Marketing Expenses 6,377 5,112 Depreciation 5,112 96,504 Other 947,930 69,226 973,608 28,673 646 Finance & Property Expenses: 32,757 Interest & bank fees 29,319 350 Interest on Lease Liabilities 33,107 The accompanying notes form part of the financial statemPeangtes 5 Annual Report 2019/20 Page 38

Statement of Financial Position As at 31 March 2020 Note 2020 2019 $ Restated 3 4 $ 5 Current Assets 6 950,700 2,971,920 132,247 122,865 Cash & cash equivalents 7 287,205 304,186 Trade & other receivables 8 100,629 117,191 Inventories Other current assets 9 1,470,781 3,516,162 10 Total Current Assets 11 7,171,248 7,731,254 1 (i) 4,018,955 285,770 Non-Current Assets 1 (i) 11,190,203 8,017,024 Property, plant and equipment 10 Capital works in progress 12,660,984 11,533,186 Total Non-Current Assets 1,252,195 515,010 2,076,427 2,367,557 Total Assets 300,289 251,811 Current Liabilities 402,771 - Trade & other payables Subscriptions and other monies in advance 216,794 - Short term provisions 32,704 54,149 Borrowings Entrance Fee Liability 4,281,180 3,188,527 Lease Liabilities 2,434,255 - Total Current Liabilities 29,420 32,992 11,960 44,759 Non-Current Liabilities 2,475,635 77,751 Entrance Fee Liability Long term provisions 6,756,815 3,266,278 Lease Liabilities 5,904,169 8,266,908 Total Non-Current Liabilities 5,904,169 8,266,908 Total Liabilities 5,904,169 8,266,908 Net Assets Equity Retained earnings Total Equity The accompanying notes form part of the financial statements Annual Report 2019/20 Page 39

Statement of Changes in Equity For the year ended 31 March 2020 Retained Total Earnings $ $ 2019 8,038,632 8,038,632 Restated 228,276 228,276 Balance as at 1 April 2018 8,266,908 8,266,908 Total surplus (deficit) for the year Balance as at 31 March 2019 8,266,908 8,266,908 2020 1 (i) (2,609,728) (2,609,728) Balance as at 1 April 2019 - Restated 246,989 246,989 Cumulative adjustment upon adoption of new accounting standard - AASB 15 Total surplus (deficit) for the year 5,904,169 5,904,169 Balance as at 31 March 2020 The accompanying notes form part of the financial statements Annual Report 2019/20 Page 40 Page 7

Statement of Cash Flows For year ended 31 March 2020 Note 2020 2019 12 $ Restated 3 $ Cash Flows from Operating Activities 5,948,382 7,070,886 261,720 290,342 Receipts from customers/members Entrance fees (5,335,300) (5,789,135) Payments to suppliers & employees (2,516) (2,497) Interest paid 37,710 41,775 Interest received 909,996 1,611,371 Net cash provided by (used in) operating activities (331,642) (412,452) Cash Flows from Investing Activities (2,948,186) (144,931) Payments for purchase of property, plant & equipment 85 6,273 Payments for capital work in progress - - Proceeds from sale of property, plant & equipment Amounts received for new assets (3,279,743) (551,110) Net cash provided by (used in) investing activities 402,771 - (54,244) (50,103) Cash Flows from Financing Activities 348,527 (50,103) Proceeds from Borrowings Payments for Lease Liabilities (2,021,220) 1,010,158 Net cash provided by (used in) investing activities 2,971,920 1,961,762 Net increase/(decrease) in cash held 950,700 2,971,920 Cash at beginning of the year Cash at end of the year The accompanying notes form part of the financial statements Annual Report 2019/20 Page 41 Page 8

Notes to and Forming Part of the Accounts For the yearTHE KOOYONGA GOLF ended 31 MarchCLUB INCORPORATED 2020 NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2020 Note 1 - Statement of Significant Accounting Policies The financial report is a general purpose financial report that has been prepared in accordance with Accounting Standards Australian Accounting Interpretations, other authoritative pronouncements of the Australian Accounting Standards Board and the requirements of the Associations Incorporation Act of 1985 (SA). The financial report of Kooyonga Golf Club Inc complies with all Australian equivalents to International Financial Reporting Standards (IFRS) in their entirety. Basis of Preparation The financial report has been prepared on an accruals basis and is based on historical costs and does not take into account changing money values or, except where stated, current valuations of non-current assets. Cost is based on the fair values of the consideration given in the exchange for assets. Unless otherwise stated, the accounting policies adopted are consistent with those of the previous year. The following is a summary of the material accounting policies adopted by the entity in preparation of the financial report. The accounting policies have been consistently applied unless otherwise stated. a) Recognition of Revenue The Club records entrance fees as non-operating revenue rather than as an item of operating revenue in the income statement. The Club recognises entrance fees over the average tenure of our current membership which is currently 21.2 years as required by AASB 15. This results in a difference between the cashflow from entrance fees during the year and the recorded entrance fee in the statement of comprehensive income. The Club recognises subscription revenue in the year to which they relate with amounts received prior to 1 April being recognised as Subscriptions in advance. The Club recognises Bar, food and Golf shop revenue at the time of sale. 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: Annual Report 2019/20 Page 42

Notes to and Forming Part of the Accounts For year ended 31 March 2020THE KOOYONGA GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2020 Note 1 - Statement of Significant Accounting Policies (cont) Depreciation (cont.) Category Useful Lives Buildings - Brick & Stone 5% - Wood & Iron 10% Course development 10% Watering system Bores 4% Plant & equipment 5% Computer equipment 10 -20% 30% Impairment of Assets At each reporting date, the Committee reviews the carrying values of its assets to determine whether there is any indication that those assets have been impaired. If such an indication exists, the recoverable amount of the asset, being the higher of the asset's fair value less costs to sell and value in use, is compared to the asset's carrying value. Any excess of the asset's carrying value over its recoverable amount is expensed to the income statement. Where it is not possible to determine 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 not materially different from the estimate determined using the present value basis of measurement. f) Goods and services tax (GST) Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian Taxation Office. In these circumstances the GST is recognised as part of the cost of acquisition of the asset or as part of an item of the expense. Receivables and payables in the Statement of Financial Position are shown inclusive of GST. g) 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. Annual Report 2019/20 Page 43

Notes to and Forming Part of the Accounts For the year ended 31 March 2020 THE KOOYONGA GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2020 Note 1 - Statement of Significant Accounting Policies (cont) h) Leases At inception of a contract, the Club assesses if the contract contains or is a lease. If there is a lease present, a right-of-use asset and a corresponding lease liability is recognised by the Club where the Club is a lessee. However, all contracts that are classified as short-term leases (ie a lease with a remaining lease term of 12 months or less) and leases of low-value assets are recognised as an operating expense on a straight-line basis over the term of the lease. Initially, the lease liability is measured at the present value of the lease payments still to be paid at commencement date. The lease payments are discounted at the interest rate implicit in the lease. If this rate cannot be readily determined, the Club uses the incremental borrowing rate. The right-of-use assets comprise the initial measurement of the corresponding lease liability, any lease payments made at or before the commencement date, as well as any initial direct costs. The subsequent measurement of the right-of-use assets is at cost less accumulated depreciation and impairment losses. Right-of-use assets are depreciated over the lease term or useful life of the underlying asset, whichever is the shortest. Where a lease transfers ownership of the underlying asset, or the cost of the right-of-use asset reflects that the Club anticipates to exercise a purchase option, the specific asset is depreciated over the useful life of the underlying asset. h) Comparative Figures When required by Accounting Standards, comparative figures have been adjusted to conform to changes in presentation for the current financial year. Certain comparative figures have been restated where necessary to conform with current period presentation. i) New Accounting Standards and Interpretations The Club has adopted AASB 15 Revenue from Contracts with Customers and as a result has changed its accounting treatment for Entrance Fees during the year. The Club adopted the modified retrospective approach and has not re-stated prior year figures. Entrance Fees were previously recognised when they bacame due but are now recognised over the average membership tenure of our current membership base. The change in accounting policy has resulted in an adjustment to the following accounts: Account 2020 (Decrease) in Retained Earnings (2,609,728) (Decrease) in Entrance Fee Revenue (41,321) Increase in Entrance Fee Liability 2,651,049 The Club has adopted AASB 16 Leases retrospectively with the cumulative effect of initially applying AASB 16 recognised at 1 April 2018. In accordance with AASB 16, the comparatives for the 2019 reporting period have been restated. The Club has recognised a lease liability and right-of-use asset for all leases (with the exception of short-term and low-value leases) recognised as operating leases under AASB 117 Leases where the Club is the lessee. The lease liabilities are measured at the present value of the remaining lease payments. The Club's incremental borrowing rate as at 1 April 2018 was used to discount the lease payments. The right-of-use assets for the remaining leases were measured and recognised in the statement of financial position as at 1 April 2018 by taking into consideration the lease liability and prepaid and accrued lease payments previously recognised as at 1 April 2018 (that are related to the lease). The following practical expedients have been used by the Club in applying AASB 16 for the first time: - for a portfolio of leases that have reasonably similar characteristics, a single discount rate has been applied; - leases that have remaining lease term of less than 12 months as at 1 April 2018 have been accounted for in the same way as short-term leases; - the use of hindsight to determine lease terms on contracts that have options to extend or terminate, - applying AASB 16 to leases previously identified as leases under AASB 117 and Interpretation 4: Determining whether an arrangement contains a lease without reassessing whether they are, or contain, a lease at the date of initial application; - not applying AASB 16 to leases previously not identified as containing a lease under AASB 117 and Interpretation 4. j) The following tables summarise the impacts of adopting AASB 16 on the Club's Financial Statements. Annual Report 2019/20 Page 44

Notes to and Forming Part of the Accounts THE KOOYONGA GOLF CLUB INCORPORATED For year ended 31 March 2020 NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2020 Note 1 - Statement of Significant Accounting Policies (cont) I. STATEMENT OF FINANCIAL POSITION Impact of changes in accounting policies 31 March 2019 As Previously Adjustments As Restated $ $ Current Assets Reported $ Cash & cash equivalents Trade & other receivables 2,971,920 - 2,971,920 Inventories 122,865 - 122,865 Other current assets 304,186 - 304,186 117,191 - 117,191 Total Current Assets 3,516,162 - 3,516,162 Non-Current Assets 7,641,284 89,970 7,731,254 Property, plant and equipment 285,770 - 285,770 Capital works in progress 7,927,054 89,970 8,017,023 Total Non-Current Assets Total Assets 11,443,216 89,970 11,533,185 Current Liabilities 515,010 - 515,010 2,367,557 - 2,367,557 Trade & other payables - Subscriptions and other monies in advance 251,811 54,149 251,811 Short term provisions - 54,149 Lease Liabilities 54,149 3,134,378 3,188,527 Total Current Liabilities 32,992 - 32,992 Non-Current Liabilities - 44,759 44,759 Long term provisions 32,992 44,759 77,751 Lease Liabilities 3,167,370 98,908 3,266,278 Total Non-Current Liabilities Total Liabilities 8,275,846 (8,938) 8,266,908 Net Assets 8,275,846 8,938 8,266,908 8,275,846 8,938 8,266,908 Equity Retained earnings Total Equity Annual Report 2019/20 Page 45

Notes to and Forming Part of the Accounts For the year ended 31 March 2020 THE KOOYONGA GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2020 Note 1 - Statement of Significant Accounting Policies (cont) II. STATEMENT OF COMPREHENSIVE INCOME Impact of changes in accounting policies 31 March 2019 As Previously Adjustments As Restated $ $ Income Reported $ Memberships 3,195,317 - 3,195,317 Subscriptions 21,444 - 21,444 Other - 3,216,761 3,216,761 Total Memberships - (41,013) (320) (41,013) House Contributions (as per supplementary information) 223,553 223,233 Golf Shop Operations Contributions (as per supplementary information) Other Income 41,775 - 41,775 Bank income 6,273 - 6,273 Profit on sale of plant & equipment 21,315 - 21,315 Other income 69,363 - 69,363 Total Other Income 3,468,664 (320) 3,468,344 Total Income Expenses (as per supplementary information) (28,673) (646) (29,319) (951,832) 3,902 (947,930) Finance expenditure (1,779,344) (1,779,344) Administration expenditure (800,605) - (800,605) Course expenditure (3,560,454) - (3,557,198) House expenditure 3,256 Total Expenses (91,790) 2,936 (88,854) Operating surplus/(deficit) before Entrance Fees 290,342 - 290,342 Entrance Fees 198,552 2,936 201,488 Total Surplus/(Deficit) for Year 40,000 (13,212) - 40,000 Amounts Received by Kooyonga Foundation for Golf Academy - (13,212) Women's Australian Open 225,340 2,936 228,276 Total Comprehensive Income Annual Report 2019/20 Page 46

Notes to and Forming Part of the Accounts THE KOOYONGA GOLF CLUB INCORPORATED For year ended 31 March 2020 NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2020 Note 1 - Statement of Significant Accounting Policies (cont) III. STATEMENT OF CASH FLOWS Impact of changes in accounting policies 31 March 2019 As Previously Adjustments As Restated $ $ Cash Flows from Operating Activities Reported $ Receipts from customers/members Entrance fees 7,070,886 - 7,070,886 Payments to suppliers & employees 290,342 - 290,342 Interest paid 52,519 Interest received (5,841,654) (2,416) (5,789,135) (81) - (2,497) 41,775 41,775 Net cash provided by (used in) operating activities 1,561,268 50,103 1,611,371 Cash Flows from Investing Activities (412,452) - (412,452) (144,931) - (144,931) Payments for purchase of property, plant & equipment - 6,273 Payments for capital work in progress 6,273 Proceeds from sale of property, plant & equipment Net cash provided by (used in) investing activities (551,110) - (551,110) Cash Flows from Financing Activities - (50,103) (50,103) - (50,103) (50,103) Payments for Lease Liabilities 1,010,158 1,010,158 Net cash provided by (used in) investing activities 1,961,762 - 1,961,762 Net increase/(decrease) in cash held 2,971,920 - 2,971,920 Cash at beginning of the year - Cash at end of the year Annual Report 2019/20 Page 47

Notes to and Forming Part of the Accounts For year ended 31 March 2020THE KOOYONGA GOLF CLUB INCORPORATED NOTES TO AND FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2020 2020 2019 $ $ Note 2 - Auditors' Remuneration 7,900 7,700 Remuneration of the auditor for: - - - auditing or reviewing the financial report 7,900 7,700 - other accounting service 7,000 7,000 Note 3 - Cash and Equivalents 943,700 2,114,920 Cash on hand - 850,000 Cash at bank 950,700 2,971,920 Short term deposits 132,247 122,865 Note 4 - Trade and Other Receivables - - Trade receivables 132,247 122,865 Less: Provision for impairment of receivables 65,141 66,920 Note 5 - Inventories 18,516 19,055 195,300 212,567 Stock - Bar 8,248 Stock - Dining Room 287,205 5,644 Stock - Golf Shop 304,186 Stock - Miscellaneous 95,726 95,948 Note 6 - Other Current Assets 4,903 21,243 117,191 Prepayments 100,629 Other Annual Report 2019/20 Page 48

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