2017 Annual Report

Annual Report 2017 Nightcliff Community Enterprises Limited ABN 64 128 953 748 Nightcliff Community Bank®Branch Contents Chairman’s report 2 Manager’s report 3 Bendigo and Adelaide Bank report 4 Directors’ report 5 Auditor’s independence declaration 8 Financial statements 9 Notes to the financial statements 13 Directors’ declaration 33 Independent audit report 34 Annual Report Nightcliff Community Enterprises Limited 1 Chairman’s report For year ending 30 June 2017 Nightcliff Community Bank® Branch has continued the growth of previous years during the 2016/17 financial year, even as Darwin has continued to struggle with changes to the local economy. This has been achieved by a determined effort to continue engaging with the local community, building on the fact that the Community Bank® branch is indeed an active part of that community just like other local business. By playing an active, contributing role in regular local activities such as the SeaBreeze Festival, The Malak Markets, fundraising events and school activities the board and staff ensure the original vision of a Community Bank® branch is maintained. Pleasingly the branch has continued to provide financial support to community events and groups including; • NT Rugby Union • Darwin Trailer Boat Club • Alzheimer’s Australia NT • Tactile Arts • Darwin Men’s Shed • NT Hockey Association • Nightcliff Cricket Club • Master AFL Football • Seabreeze Festival • Lakeside Community Garden. • Australian Volunteer Coastguard • Hunger Walk • Jingili BMX Club • Malak Marketplace The day-to-day service provided by the branch staff is critical to this success too. Our customers also see that the branch staff are very connected members of the community who do care and provide far more than just a 9.00am to 5.00pm banking service. On behalf of the Board and shareholders I do particularly thank our current branch team, Jeff, Lyn, Kay and Shannan for their contribution and dedication. As in the broader community, technology is changing the banking industry and we are fortunate to have a team that has the skills, determination and flexibility to master and implement these changes to ensure the continued success of the branch. This success has meant that as well as providing support to our local community, we were also able to pay another dividend of 3c per share to Nightcliff Community Enterprises Limited shareholders. Of course the Community Bank® branch is only possible because of the progressive policies of the Bendigo Bank and we do especially thank the people we work with closely. In particular Regional Manager, John Grotenhuis during his time in Darwin and Paul Palcini who has provided great support in the Business Banking sector. We welcome and congratulate Rachel Fidler who has worked with our team during her time in the Smith Street branch and we look forward to working with her in her new role as Regional Manager. Nightcliff Community Bank® Branch looks forward to another successful year going forward in our partnership with Bendigo Bank to provide support for our community. Jim McDougall Chairman 2 Annual Report Nightcliff Community Enterprises Limited Manager’s report For year ending 30 June 2017 It is my pleasure to once again reflect on the past 12 months of our business achievements. Over the past year we have seen our business growth maintained in a very competitive home, commercial and deposit taking market. Net Business growth on our book was $8.38 million. In reporting business growth we remind ourselves that our core focus has and always will be the local community with our branch once again supporting many activities with sponsorship support or direct staff involvement. In the 2016/17 reporting period, the business provided sponsorship exceeding $33,957 in support to the community from the Nightcliff Community Bank® Branch. To mention some of the highlights for the year:- • Involvement with the Darwin Trailer Boat Club Bluewater Classic, the only fishing competition in Australia that has a program in that all fish caught are donated to Foodbank NT to support those in need. • Our continuing involvement and sponsorship of the Seabreeze Festival. • Our support provided to the Project 21 group with the donation of a new vehicle to assist their Cans for Cash program. Our forecast for the next 12 months projects continued growth within our market that we believe has further opportunities for our business. As our community and people grow within the area we believe our business strengths and values will be at the forefront of their banking choices. Finally, my staff and I would again personally like to thank you, our shareholders and customers, for your support of our business for the last 12 months. Jeff Watson Branch Manager Annual Report Nightcliff Community Enterprises Limited 3 Bendigo and Adelaide Bank report For year ending 30 June 2017 As we approach 20 years since the first Community Bank® branch opened its doors, it’s timely to reflect on the role of our network’s 70,000-strong shareholders and its army of nearly 2,000 passionate local Directors. As a group of people you are a powerful force that continues to influence change both locally and nationally. United for a shared purpose in your communities, you are making big things happen beyond the delivery of great banking products and services; you’re creating jobs, helping businesses to thrive, solving problems and achieving outcomes that will make your communities better places to live and do business. Amongst other things, you are providing hundreds of thousands of people in communities around Australia with new opportunities to: • Play sport in new Community Bank® funded centres. • Continue their education thanks to a Community Bank® scholarship. • Seek treatment in hospitals closer to home with equipment funded through a Community Bank® grant. • Reap the environmental benefits of Community Bank® funded solar panels and LED lighting, and • Access mental health services for teenage children with a service supported by a local Community Bank® branch. In fact, since the model’s inception your investment in local communities exceeds $165 million and that figure continues to grow every year. This amount excludes the significant co-investment on key projects that many companies have obtained from Government and other parties. Nationally our voices are increasingly being heard, and our collaborative approach recognised and celebrated. Representing us all at a recent forum at Canberra’s Parliament House, Bendigo Bank’s Managing Director and Chairman reinforced the significance of the Community Bank® model’s achievements and called for regulatory change that would help us compete in a crowded and ever-evolving banking sector. Just two months later, the Federal Government announced a levy on Australia’s biggest banks that is set to re-level the playing field as we’ve regularly advocated for. But for us this is more than a levy. The Turnbull Government’s announcement recognises the importance of customers having access to a robust, competitive and customer-focused banking sector. On this note Bendigo Bank was recently recognised as the banking provider of choice in the annual Mozo People’s Choice Awards. Better yet, out of 110 banking providers nationally, we were the only bank recognised in all eight banking categories – and were rated the leading bank in six of those eight categories. This is an extraordinary achievement for you and our bank. Not only does it demonstrate that, in the eyes of our customers, we are doing something right – it very clearly outlines that together we can continue to achieve results. As we’ve long known, the more successful our customers are, the stronger our communities become. In this regard the Community Bank® model enables these outcomes for customers and communities, as increasingly recognised by more and more Australians. So thank you for your investment in your local Community Bank® company, for your ongoing contribution and support, tireless advocacy and continued commitment to building strong local communities. Without this, our Community Bank® branches would be just another bank. Robert Musgrove Executive Engagement Innovation 4 Annual Report Nightcliff Community Enterprises Limited Directors’ report For the financial year ended 30 June 2017 Your directors submit the financial statements of the company for the financial year ended 30 June 2017. Directors The names and details of the company’s directors who held office during or since the end of the financial year: James Keith McDougall Chairman Occupation: Self Employed Qualifications, experience and expertise: Semi retired, previously self employed. President of Darwin Seniors Computer Club and Board Member for Down Syndrome Association of NT. Special responsibilities: Chairman Interest in shares: 1 Lorraine Dawn Koch Director Occupation: Retired Qualifications, experience and expertise: Volunteer for Aged care. Sporting administrator. Nightcliff Bowls club. Special responsibilities: Marketing Committee, Governance Committee, Human Resources Committee Interest in shares: 1,001 Tracey Leanne Myles Director Occupation: Consumer Consultant Qualifications, experience and expertise: Treasurer for Down Syndrome Association NT, volunteer parent helpline support SIDS and Kids NT. Employed as a Consumer Consultant for Mental Health in the Department of Health. Special responsibilities: Treasurer, Human Resources Committee, Finance and Audit Committee Other current directorships: Australian Autism Alliance and TEAMHealth Interest in

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