Season 2018 / 2019

ADELAIDE ROWING CLUB INC.

(Founded in 1882 as I'Zingari Rowing Club)

TH 136 ANNUAL REPORT

Season 2018 / 2019

O FFICE BEARERS

Ex Officio Patron...... The Right Honourable Lord Mayor of Adelaide Mr Martin Haese (August ‘18-November ‘18) The Right Honourable Lord Mayor of Adelaide Ms Sandy Verschoor (November ‘18-current)

Senior Vice Patron…. Don Sarah Vice Patrons…………. Phil Mangelsdorf, Grant Duncan, Patrick Hill, Geoff Hill, Dick Turnbull, Jock Jamieson, Brain Sawley, David Hislop, Jim Eglinton, Brian Dalton, Tas Binder, Edward Suttell, Tony Matthews*, John Osborne, John Jarvis, Tony Roberts, Neil Sarah President...... Chris Greening Vice Presidents...... John Absolon, Joanne Howski, Rob Greening, Tim Dunstone, Trent Collins, Darryl Bosch, Tim Hennessey, Tom Guthrie, Patrick Winter, Danny Barrera, Stuart Masson, David Cropley, Mitch Oliver, Adam Salleh. Honorary Solicitor….. Ted Guthrie Honorary Auditor.….. Patrick Winter Honorary Architect…. Chris Greening Public Officer………… Mitch Oliver Committee Captain...... Jessica McRae Vice Captain...... Tim Santin Alannah Gilsmore Secretary………...... Erica Webb Treasurer...... Vicki Brown Bar Manager...... Portia Capoccia (ex officio) (Sept. ‘18 – Feb. ‘19) Mike Barenski (Feb. – August ‘19) General Members...... Ella Bramwell Trent Collins Bryn Coudraye Sophia Nery Daren Potts Tom Shelton Donna Webb

PRESIDENT'S REPORT

This year 2018/19 has been nothing short of epic. Achievements on and off the water abound. We started the season electing a female gender positive committee in August, headed up by now seasoned Captain Jessica McRae, Vice Captains Alannah Gilsmore and Tim Santin.

The Committee put on a lot of functions this year with Captains Christmas Cocktails a huge success and Christmas Morning again well patronised. The Annual Dinner was one for the ages, well attended and in fine spirits. We continue to place an emphasis on the first Thursdays of the month, with bistro food available – come along.

Regarding the club’s members: In January the Club celebrated the union of Jarrad Schar and Chelsea Hill, both long time members with Jarrad a former Captain, we wish this lovely young couple the best in their future.

This year we also celebrated the engagement of Daniel Ralph and his long term partner Katie, as well as the engagement of Shannon LeBlanc and her partner Tom.

Sadly, the club lost Tony Matthews, an ARC Member for 65 of his 83 years, sadly losing his battle with cancer in March. Tony was a Senior Club Oarsman and Kings Cup Oarsman in the 1956 SA Crew. He was stroke of the famous St Peters 1st 8+ of 1953 that dead heated twice with Scotch. As well as a very successful Hotelier, Tony was an amazingly generous character and a strong supporter of the ARC - if you have ever eaten at the club, it would have been using cutlery and crockery donated by Tony, along with many other hospitality items. His advice and guidance to bar managers and committee members over the years was exemplary. He will be missed.

Regarding the club’s finances: This year the club entered a new age of Patronage, signing up 2 new major club Sponsors. Our new Platinum Sponsor Olga’s Fine Foods – Represented by Masters Rower, coach and all-round amazing guy Dr George Ujvary. Also, our club has a new Gold Sponsor – Fulham Funerals, represented by Jamie Grant, Parent, Fundraiser and Raconteur par Excellence. It is with the greatest of thanks that we welcome the generosity of these organisations and look forward to expanding our sponsorship base into the future.

While on issues financial, this year the Committee shone a light on the true cost of membership, publishing data demonstrating that:

Our current cost (based on 2017/18) to provide 1 rowers experience for a season is $2,182…. this can be broken down into percentages of funding sources:

1. Bar & Functions Net Contribution 39% 2. Membership Revenue 31% 3. Rowing Event Revenue 17% 4. Fundraising Activities 4% 5. Sponsorship 1% 6. Miscellaneous 9% The data showing a very real dependence on the success of the clubhouse bar and facilities for the clubs ongoing viability. So please, if you are planning on a celebration – give us a go!

On the water: The Club had a stellar year in S.A., Australia and Worldwide (a more comprehensive list of which will be in the Captains Report and at the rear of the Report):

 Our NTC athletes Alex Hill, Molly Goodman and Olympia Aldersey continue to represent our country with distinction winning National, World Cup and World Championships.  Our SASI trained Athletes this year, had three athletes representing Australia at U23 level in Sarasota, Florida, with Club Vice-Captain Alannah Gilsmore coxing the Mens 8+, Mitch Reinhard in the LM2X and Angus Dawson winning a Gold Medal in the M4+.  At the U21 level, SASI trained Athletes Katelyn Nicholson and Oscar McGuinness were selected to represent Australia in the Trans Tasman event.  Thanks go to Jason Lane, Christine Maclaren, Brynley Millward and all at SASI who helped these young athletes achieve their goals!  At the National Championship regatta, we sent a large contingent to again figure well in results for State and club. Oscar McGuinness becoming national U23LM2X Champion. Notably, of all the achievements, we were very excited about our clubbies, with the CW4- (silver) and the now infamous “Clubble” CM2X (gold).  Within our domestic season, ARC won Senior Mens and Womens Premierships, many State Championships, as well as attending country regattas, masters championships, the long row, Head of the Yarra and many other events. This year, if there was such a thing, the squad award would go to the Senior Women, who were nothing short of dominant during the season, as evidenced at the RowingSA Awards: o Champion of Champions - Verayna Zilm o Champion Senior Female - Verayna Zilm o Champion Junior Female - Tonya Lokteff o With Coach of the Year - Daren Potts o Champion Junior and Senior Male – James Andrewartha (ARC/SPC)

 Thanks to all the ARC coaching staff and assistants for another great season – Ron Mobbs, Daniel Ralph, Daren Potts, Catherine MacDougall, Jessica McRae, Donna Webb and George Ujvary. Outside of the Club’s Committee the work of the I’Zingari foundation continues. Earnings from the invested capital will one day help to provide ongoing acquisitions. I thank those current and founding members for their work in this regard including current Chair Ted Guthrie and would recommend that all current and resting members invest in foundation membership.

Finally, I have at last completed my pet project, which is the renegotiation of the Torrens Clubhouse lease. This has been recently completed and our future on the site is now confirmed for another 4 decades. My heartfelt thanks to Roscoe Shelton, Ted Guthrie and Vicki Brown for their assistance.

It was a great year, and hopefully one that will set us up well for some continued successes on and off the water.

Chris Greening President

C APTAIN’S REPORT

As we close off the 136th season at ARC and reflect on the year that was, I realise that I have been in a very fortunate, position to oversee the many facets of this great club. It has given me a great insight into the different cogs at work and the far reaching impact that we have.

One of the most visible successes is of course Alexander Hill becoming the first South Australian to win 2 President’s Cups, as well as defending champion of the Open Men’s Single at Nationals. More locally in our club and SASI based athletes, ARC picked up 18 state championship titles and 14 National titles, resulting in once again winning the South Australian Senior Women’s and Senior Men’s Premierships. On top of this Verayna Zilm was awarded the Champion Senior Women’s Trophy as well as Champion of Champions, Tonya Lokteff was awarded the Champion Junior Women’s Trophy, Daren Potts was awarded Coach of the Year, and Angus Dawson, Simon Lane and Jack Deans all finished in the top 4 of the Champion Senior Men’s Trophy.

Our Senior Women have had potentially the best results on record for the club and their sheer level of enthusiasm and determination was second to none. Of our Yarra crew which placed 7th in the Open division (notably up against 2 NTC crews) 6 of these rowers then continued into our first grade championship eight. 7 if you include the injured Anna Collins. The women won every single heavy weight open event at the South Australian State Championships as well as a number of lightweight and underage events too. Of our first grade crew, all went on to compete for South Australia in either Queens, Youth, or Victoria Cup.

In the Senior Men, our most notable achievement was that the South Australian Kings Cup crew, who received bronze, was comprised of 7 ARC current athletes, a former ARC captain (then NSW based), the son of an ARC social rower as cox, and co-coached by an ARC coach.

At the time of writing, our National Training Centre athletes of Alexander Hill, Molly Goodman, and Olympia Aldersey, are in preparation for the World Championships in Austria after a successful World Cup campaign, with eyes fixed firmly on qualifying crews for the Tokyo Olympics. After competing in the women’s four in 2017 and 2018, Goodman moved into the stroke seat of women’s eight, leading the crew to gold in World Cup II in Poland, and silver in World Cup III in the Netherlands.

Aldersey had a successful transition from sculling to sweep this season, picking up a bronze and gold in the women’s four in World Cups II and III respectively. Hill has continued to cement his place as ARC’s most successful athlete, moving into the men’s pair in 2019 after making it two in a row as world champion in the men’s four in 2018.

Not to be outdone by their open counterparts, our next generation of Australian representatives are coming through strong. Angus Dawson (U23 M4+ - Gold), Alannah Gilsmore (U23 M8+ cox – 6th), and Mitchell Reinhard (U23 LWM2x – 7th) all made their debuts on the Australian Team at the Under 23 World Championships in Sarasota-Bradenton, Florida, USA. In an event hampered by storm delays, Dawson gave the stand out performance in the men’s four by becoming world champion in a time of 6:10.03, less than a 10th of a second ahead of Great Britain. Closer to home, Oscar McGuiness and Katelyn Nicholson pulled on the green and gold to compete in Penrith for Leg 1 of the Trans-Tasman under 21 event.

Our results at Nationals and Internationally shows that we are punching well above our weight for such a small state, but we are also developing our squads at a grass roots level to ensure as people step away from competitive racing there are always new members to step into their shoes. We of course have fantastic work being done by our coaches taking on a bunch of unruly school kids in the depths of winter for another successful school winter program, and Donna Webb painstakingly teaching old dogs new tricks in our learn to row program. Our masters also go out each week to race with great enthusiasm despite always being off the back of the pack as “young masters”, trying to claw back the handicap on the older crews. A particular highlight this season for me was seeing the great improvements over the last season of our Social rowers as they attended the “Wharf to Woolshed” row for the second time and in Renmark’s Centenary year. What had been a long painful slog a year prior, has become a great team building exercise with a brisk (in temperature) 36km scenic row thrown in.

I would personally like to offer my sincere gratitude and appreciation to every one of our dedicated Coaching Team. Much of the success of the Club is due to your dedication and expertise.

Captaincy is certainly a challenging role, even just considering the logistics of managing a club this large, but it is certainly not one without support. I would like to give a heartfelt thanks to the former presidents, captains, and the current vice presidents who have been an invaluable source of advice and support as I have navigated the challenges this season both on and off the water.

If you are reading this report I can assure you this comment is directed to you: One of the strongest attributes of the club is that long after your zootsuit has been thrown in the wash for the last time, the interest and support for the club long continues. As our new and younger members continue to forge their own place and ownership of the club, I am reassured that there is whole community who are watching and supporting them.

See you all in season 137.

Jessica K. McRae Captain

SECRETARY’S REPORT

The past season brought with it a committee filled with fresh eyes and enthusiasm. We had three first timers join the Committee, all from our senior women’s squad. While they got to have their first taste of what goes on behind the scenes of the club, so too did the Committee receive a welcome voice to represent the active membership of the club. All three young women showed maturity and provided well considered contributions when difficult decisions had to be made. I would encourage any of our members who have an interest in having more of a direct contribution to how our great Club is run, to put up their hand for the Committee or any sub-committee opportunities that arise in the coming season.

Going forward I believe it is important for us to have a cross-sectional representation of our membership on the Committee. Having a representative for each of our growing squads; seniors, masters, socials and those that have handed in their oars for a spot on the balcony, will ensure that all our decisions are made with the best interest of our varied membership in mind.

We have had a productive season, with a number of initiatives seen through to realisation.

First and foremost is the finalisation of our Torrens Lease, touched on in the President’s report in the earlier pages. Through perseverance and patience, Chris as president and Vicki as treasurer with support from various other members and friends of the club, were able to conclude negotiations of the lease that will put the club in good stead for the foreseeable future.

We have also made some changes to Clubhouse infrastructure utilising government initiatives and rebates to reduce our power usage, improve our sustainability and reducing annual costs of operation. This has come in the form of an LED lighting upgrade for our upstairs spaces reducing energy use and installation of 25kV solar panel array and 20kW inverter on the Torrens Clubhouse roof.

Finally, through a successful grant application by Jess McRae from the Office of Recreation, Sport and Racing, we have been able to schedule and implement the first phase of a re-racking plan at our Westlakes shed. This plan will see a new racking solution being rolled out at the shed in the coming months, phasing out the heavy rolling skull racks and improving access to reduce the opportunity for accidental damage when storing our equipment.

To ensure we realise our potential as a committee next season, it will be important to ensure that each committee member is engaged with their role. We have identified a need for more defined portfolios on the Committee to fulfil requirements of the day-to-day operation of the club but also extend our capabilities. The approach is to cater to the committee members strengths and tailor their contribution to match. We never want to let enthusiasm fall to waste.

I have once again suggested to the Committee that a portfolio position of membership officer be selected from the general members of the Committee to assist the secretary in membership duties.

The membership breakdown for this year is outlined below.

Membership Category Number of Members Active 72 Semi-Active 11 Non-Active 6 Social 4 Life Members (Honorary & Paid) 24 Other 88 Total 205

Of the 72 active rowers this season, over 50 were in contention for the C.A.M West Shield, winning premiership points for their club. A full list can be found later in this report.

Our Learn-To-Row program run by Donna Webb has continued to not only introduce new people to the sport of rowing but bring in new and enthusiastic members to the club.

There has been another strong attendance to the ARC winter program seeing 61 rowers taking part this season. Thank you to all that have assisted in the coaching of this program.

Erica Webb Secretary

C LUB R OOM REPORT

Revenue from functions and events held at the Club during 2018/19 was significantly less than the previous year, particularly in the last six months. Bar Trading Revenue for the year was $93,718 ($134,804 in 2017/18), with the net contribution from Bar Trading being $42,671, a reduction of approximately 36% from 2017/18 trading.

The contractual arrangements with previous bar manager - Cuisine by Angela concluded at the end of February 2019 by mutual agreement, as the Committee prepared for the changed leasing arrangements that now allow for the Clubroom Premises to hold Public Events and operate a Café.

An agreement with Adelaide Hotelier – Treasury 1860 was established in April 2019 to oversee the management of the Clubroom events and functions. Although the financial benefits from this innovative approach are not yet evident, discussions are ongoing between the Committee and Treasury 1860 management on ways to further improve bar trading and function facilities revenue.

The Treasury 1860 Team has introduced a Family Members Night on the first Thursday of each month, offering a new $15 Bistro Menu, which is also partly sponsored by our Platinum Sponsor - Olga’s Fine Foods. This event has been well received by Members and their family and friends, with numbers continuing to grow each month.

The Adelaide Crow’s Supporters Group has continued to attend the Clubhouse prior to each home game match, with our Members successfully providing bar service and BBQ offerings.

A big thank you also goes to ARC Member Mike Barenskie who has assisted with Bar Member activities since March 2019!

Clubroom Management

F INA NCIA L REPORT C O M M I T T E E S TATEMENT

In the opinion of the Committee Members of Adelaide Rowing Club Inc. the accompanying financial statements show an accurate financial position of the Adelaide Rowing Club as at 30 June 2019.

At the date of this statement, there are reasonable grounds to believe that the Adelaide Rowing Club will be able to pay its debts when they fall due.

TR EA S UR ER REPORT

Monthly Financial Statements including a Balance Sheet and Profit and Loss Statement have continued to be provided to the Committee during the year to assist the Committee with managing the financial affairs of the Club. The financial position of the Club has made a further improvement from the previous year, with a current year profit recorded of $100, ($3,332 loss in 2017/18). Operating Profit for 2018/19 before depreciation was $27,396 ($27,699 in 2017/18), with depreciation of all assets for 2018/19 calculated at $27,296. Membership Revenue for 2018/19 was $56,360, a small increase of 4% from the previous year, with approximately $16,000 of Membership and Racing Fees outstanding as at 30 June 2019. The provision for doubtful debts has been maintained at $2,500 and, at this time, it is considered that all outstanding amounts will be recovered. Revenue from the Torrens Clubhouse Function Activities was $101,878, a decrease of $40,831 from the previous year. In April 2019, the Committee appointed a leading Adelaide Hotelier - Treasury 1860 to take over the management of the function activities at the Club, with benefits expected to commence in the next financial year. The Cash position of the Club at 30 June 2019 was $107,668, which includes a $10,000 term deposit with our Bank, as a condition of the new Torrens Clubhouse leasing arrangements ($108,110 cash held at 30 June 2018). In November 2018, a $20,000 grant (ex GST) was received from the Office of Recreation and Sport that will be applied in 2019/20 to upgrade the boat racking at the West Lakes Boathouse. Fundraising and sponsorship activities significantly increased during the year, and included the establishment of Olga’s Fine Foods as a Platinum Sponsor and Fulham Funerals as a Gold Sponsor. Rowing Equipment purchased during 2018/19 included an additional single skull, 2 Sykes Initiator 70-85 kgs single skulls, and a number of sets of Bow and Stroke Oars. Other capital expenditure included the installation of Solar Panels and an upgrade to LED lighting at the Torrens Club, which is expected to realise significant future savings. Vicki Brown Treasurer

PR OFIT & LOS S STA TE ME NT FOR THE YEAR ENDED 3 0 J U N E 2 0 1 9 The Profit and Loss should be read in conjunction with the accompanying notes. Notes 2019 2018

$ $ Operating Income Membership Subscriptions 56,360 54,115 Learn to Row Courses 5,050 4,920 Fundraising, Donations & Sponsorship 2 17,013 6,661 Regatta Operations Revenue 37,454 29,787 Torrens Club Revenue 3 93,718 134,804 Club Hospitality Events Revenue 3 8,160 7,905 Merchandise Revenue 373 1,273 Interest Received 634 565 Sundry Revenue 4 3,927 5,514 Total Operating Income 222,689 245,544

Less Cost of Sales Membership Subscriptions Winter/School Costs 3,342 4,625 Regatta Operations Costs 39,448 35,599 Torrens Club Costs 3 54,600 67,469 Hospitality Events Costs 3 5,221 6,855 Merchandise Costs - - Total Cost of Sales 102,611 114,548

Gross Profit 120,078 130,996

Operating Expenses Administration 13,262 15,864 Coaching Expenses 12,525 16,986 Torrens Boat House Expenses 25,015 31,198 West Lakes Boat House Expenses 16,461 15,586 Insurance 10,064 10,894 Trailer / Motor Vehicles Expenses 985 1,690 Sponsorship, Athlete Support & Fundraising Expenses 147 364 Boat Fleet Maintenance and Damage 5 14,223 10,715 Bad Debt Expense - - Total Operating Expenses 92,682 103,297

Operating Profit Before Depreciation and Amortisation 27,396 27,699 Less Depreciation and Amortisation Expense 27,296 31,031 Total Operating Profit / (Loss) 100 (3,332)

Non-Operating Income Other Revenue - - Total Non-Operating Income - -

Net Profit / (Loss) After Non-Operating Income / Expenses 100 (3,332)

Member Funds from Previous Years 248,637 251,969 Total Member Funds 248,737 248,637

BA LA NCE SHE E T A S A T 3 0 J U N E 2 0 1 9

The Balance Sheet should be read in conjunction with the accompanying notes. Notes 2019 2018

Assets

Current Assets Cash 107,668 108,110 Receivables 6 20,685 23,888 Inventories 7 17,819 15,214 Total Current Assets 146,172 147,212

Non-Current Assets Property Plant and Equipment 8 148,762 136,365 Total Non-Current Assets 148,762 136,365

Total Assets 294,934 283,577

Liabilities

Current Liabilities Accounts Payable 4,573 5,548 Accruals 9 874 1,664 Grant Funding Received 10 28,000 8,000 Fleet & Equipment Rejuvenation Fund 11 - 4,379 Revenue Received in Advance 12 2,750 5,350 Total Current Liabilities 36,197 24,941

Non-current Liabilities I'zingari Foundation 10,000 10,000 Total Non-current Liabilities 10,000 10,000

Total Liabilities 46,197 34,941

Net Assets 248,737 248,637

Equity Member Funds from Prior Year 248,637 251,969 Current Year Profit / (Loss) 100 (3,332)

Total Equity 248,737 248,637

N OTES TO AND F O R M I N G P ART OF THE F I N A N C I A L S TATEMENTS FOR THE YEAR ENDING 3 0 J U N E 2 0 1 9

1. Summary of Significant Accounting Policies This special purpose financial report has been prepared for distribution to the members to fulfil the Committee's financial reporting requirements under the Club rules. The accounting policies used in the preparation of this report, as described below, are consistent with the financial reporting requirements of the club rules and are, in the opinion of the Committee appropriate to meet the needs of members:

(a) The financial report has been prepared on an accrual accounting basis including the historical cost convention and the going concern assumption. (b) The financial statements are GST exclusive. (c) The requirements of Accounting Standards and other professional reporting requirements do not have mandatory applicability to Adelaide Rowing Club Incorporated because it is not a "reporting entity".

Cash Cash includes cash on hand and cash deposits held in the Bendigo Bank.

Inventories Inventories are valued at cost price excluding GST.

Property, Plant and Equipment Boat House and Club House Improvements and all Equipment is carried at cost, less where applicable, any accumulated depreciation.

Depreciation Depreciation is provided on a straight line basis on all Property, Plant and Equipment.

Major depreciation periods are: Boats and Oars 10 years Sundry Rowing Equipment 5 years Leasehold improvements 20 years

Auditor's Remuneration There has been no remuneration paid for the audit.

Tax Status The activities of Adelaide Rowing Club Incorporated are exempt from taxation under sec. 23 (g) of the Income Tax Assessment Act.

2. Donations & Sponsorship and Fundraisers Support from the Club’s community has continued including the establishment of a Platinum Sponsorship from Olga’s Fine Foods and a Gold Sponsorship from Fulham Funerals.

Other fundraising activities included the sale of ARC labled wine, BBQ’s , ARC Hosted Regattas and funds previously raised through the Australian Sporting Fund. Thank you to the following Members and friends of Adelaide Rowing Club for their financial donations: Patrick Hill Andrew Tiddemann Dick Turnbull

3. Torrens Club Operating Profit Included in the Operating Profit is the following detailed items of Operating Revenue and Expenses. 2019 2018 $ $ Torrens Club Revenue Function Revenue 61,193 72,469 Bar Revenue 32,525 62,335 Total Torrens Club Revenue 93,718 134,804

Torrens Club Hospitality Events Revenue Annual Dinner Revenue 6,692 6,876 Captain's Cocktail Party Revenue 1,468 1,029 Total Torrens Club Hospitality Events Revenue 8,160 7,905

Less Cost of Sales Bar Inventory Costs 35,706 44,226 Bar Supplies Costs 1,036 1,430 Bar & Function Contract Services 14,108 21,813 Bar and Function Honorariums 3,750 - Total Less Cost of Sales 54,600 67,469

Torrens Club Hospitality Events Costs Annual Dinner Costs 4,929 5,982 Captain's Cocktail Party Costs 292 873 Total Torrens Club Hospitality Events Costs 5,221 6,855 Torrens Club Operating Profit 42,057 68,385

4. Sundry Revenue 2019 2018 $ $ Boat Rack Hire Revenue 2,573 2,896 Rowing Equipment Hire Revenue - 1,409 Function Deposits Reclaimed 818 1,136 Hire of Torrens Boat Shed space 500 - Rowing Sheds Key Revenue 36 73 Total Sundry Revenue 3,927 5,514

5. Boat Fleet Maintenance and Damage During 2018/19, expenditure of $14,223 (net) was made to maintain the exisiting boat fleet.

6. Receivables 2019 2018 $ $ Accounts Receivable 17,472 25,582 Provision for Doubtful Debts (2,500) (2,500) Prepayments 5,713 805 Total Receivables 20,685 23,887

Accounts Receivables as at 30 June 2019 mainly consists of outstanding Memberships fees and, at this time, it is considered that all monies owing will be fully recovered.

Prepayments consists of a deposit with Lowe & Hennessy Pty Ltd to upgrade the West Lakes Boat Shed racking for $4,545, Murray Pest Control Services for $378 and $790 to Rowing SA relating to the West Lakes Boat Shed Lease.

7. Inventories 2019 2018 $ $ Inventory Bar 5,874 6,465 Inventory Merchandise 8,749 8,749 ARC labelled fundraising Wine Inventory 3,196 - Total Inventories 17,819 15,214

8. Property, Plant and Equipment 2019 2018 $ $ Rowing Equipment at Cost 595,944 572,038 Less Accumulated Depreciation (502,739) (482,135) 93,205 89,903

Sundry Bar Assets at Cost 55,909 40,123 Less Accumulated Depreciation (33,783) (33,073) 22,126 7,050

Motor Vehicle Trailer at Cost 15,620 15,620 Less Accumulated Depreciation (15,620) (14,995) 0 625

Clubhouse Improvements at Cost 118,268 118,268 Less Accumulated Depreciation (84,838) (79,480) 33,430 38,787

Total Property Plant and Equipment 148,762 136,365

9. Accruals 2019 2018 $ $ GST Payable 874 1,664 Total Accruals 874 1,664

10. Grant Funding Received In addition to the $8,000 of grant funds received in May 2018 from Renewal SA to assist with the upgrade of the Torrens Precinct, in November 2018 the Club was successful in their application to the Office of Recreation and Sport for $20,000 to assist with the upgrade of the racking at the West Lakes Boat House. These funds are expected to be expended during 2019/20.

11. Fleet & Equipment Rejuvenation Fund The monies received in 2017/18 into the Fleet and Equipment Rejuvenation Fund were transferred to Income during 2018/19 and have assisted with the purchase of additional rowing equipment.

12. Revenue Received in Advance These monies relate to a number of function deposits, where the functions are planned to be held during 2019/20, and include a $500 deposit from the Adelaide Crows Supporters Group.

INDEPENDENT AUDIT REPORT TO THE MEMBERS OF THE ADELAIDE ROWING CLUB INC

SCOPE

I have audited the financial report of THE ADELAIDE ROWING CLUB INC for the year ended 30 June 2019. The Committee is responsible for the financial report. I have conducted an independent audit of the financial report in order to express an opinion on it to the members.

The audit has been conducted in accordance with Australian Auditing Standards to provide reasonable assurance whether the financial report is free of material misstatement. The procedures included examination, on a test basis, of evidence supporting the amounts and other disclosures in the financial report and the evaluation of significant accounting estimates. These procedures have been undertaken to form an opinion whether, in all material respects, the financial report is presented fairly in accordance with Accounting Standards and other mandatory professional reporting requirements in Australia so as to present a view, which is consistent with any understanding of the association’s financial position and performance as represented by the results of its operations.

The audit opinion expressed in this report has been formed on the above basis.

Audit Opinion

In my opinion, the financial report of THE ADELAIDE ROWING CLUB INC presents a true and fair view in accordance with applicable Accounting Standards and other mandatory professional reporting requirements in Australia, the financial position of THE ADELAIDE ROWING CLUB INC as at 30 June 2019, and the results of its operations for the year then ended.

PD Winter Honorary Auditor

dated this 11th day of August 2019

I’ZINGA R I F OUNDATION C HAIRMAN ’ S R EPORT

CHAIRMAN’S REPORT 2019

The trustees, comprising me (Ted Guthrie), Tony Roberts, Chris Greening, Tom Guthrie, Jessica McRae and Tim Hennessey, have continued to meet regularly over the past year to manage the growing funds of the Foundation, to discuss the circumstances of the Club and to consider its needs in the future. The likely needs of the Club will be in the form of capital works, given the Club’s new long-term leasing arrangement at the Torrens, and provision of new boats.

The goals and objectives of the Foundation are therefore to be able to assist the Club with these needs financially when they arise, ultimately at as little cost to members as possible. However, in order for the Foundation to be able to do so, it is important for it to continue to grow as quickly as possible – and this can only occur with the support of the members of the Club.

The Foundation therefore encourages Club members (past and present), who have received significant enjoyment and benefit from the Club, to become members of the Foundation. In addition to providing future assistance, a financially strong Foundation, underwriting the Club, will otherwise ensure its long-term financial security and viability.

In terms of social activities, we held once again an annual Foundation Lunch in late 2018, generously hosted by Tony Roberts, for members of both the Foundation and the Club. Those in attendance had a great opportunity to catch up with fellow oarsman, and did so enthusiastically over a glass or two of red (kindly donated by friends and members of the Club).

Finally, I would once again like to thank my fellow trustees, and the past President, David Hislop, and past secretary / treasurer, Rob Greening, for their support over the past year.

Regards,

Ted Guthrie. Chairman

I’ZINGA R I F OUNDATION F I N A N C I A L R EPORT

I’ZINGA R I F OUNDATION T RUSTEES ’ D ECLARATION

I’ZINGA R I F OUNDATION I NDEPENDENT A UDITOR ’ S R EPORT

I’ZINGA R I F OUNDATION L I S T O F M EMBERS Platinum Adelaide Rowing Club (Benefactors included) ($50,000+)

Silver David Hislop ($10,000+) John Jarvis Tony Roberts Brian Sawley Don Sarah Neil Sarah

Bronze Grant Duncan ($5,000+) Henry Duncan Geoff Hage Tony Matthews * Jim Moffatt * Nigel Winter * Patrick Winter

Member ($1,000+) John Absolon Dr Sam Humble * Darryl Bosch Christina Jarvis John Brook Margaret Jarvis Neil (Sam) Collins Robert Jarvis * Graham Cotton * Sam Jordan David Cropley Tom Lunn Tim Dunstone Simon Lane Peter Emery Stuart Masson Stuart Glenn Mitch Oliver Jamie Grant John Osborne Chris Greening Gilbert Rutherford Dianne Greening Meredyth Sarah Rob Greening Michael Shearer Ted Guthrie Alex Silz Tom Guthrie Andrew Tidemann Tim Hennessy Richard Turnbull Geoff Hill George Ujvary Patrick Hill Alex Worthington Robert Hudson

Donor Geoff Burfield Andrew Jeffrey Margaret Rose * Michael Lohmeyer

(*deceased)

PE R PE TUA L TR OP HY WINNE R S S E A S O N S E A S O N 2 0 1 8 / 1 9

Captain’s Trophy For the most improved first-year rower Cooper Williams

J.J. Sharp Memorial Cup For the most improved rower Michael Simmons

F. Kenneth Milne Trophy For the most outstanding coxswain Alannah Gilsmore

Greening-Taylor Trophy For exemplary character & Club spirit Gill Crowe

Moffatt-Le Page Master’s Challenge Cup For the most winning Master’s rower Matt Hooper / Andrew Tidemann

Charles Amiel Trophy For the most winning Junior member Tonya Lokteff

C.A.M. West Shield For most winning Club member Verayna Zilm

Charles Morgan Trophy For most ability & general qualities Alexander Hill

Percy Forwood Memorial Trophy For meritorious coaching service to Adelaide Rowing Club Catherine McDougal

I’Zingari Trophy For exemplary service to the Adelaide Rowing Club George Ujvary

R.W. Richardson Memorial Shield For outstanding service over a very long period Unawarded

Special Service Awards Joseph Hutt Simon Lane Catherine McDougall Ron Mobbs Daren Potts Daniel Ralph Jarrad Schar

N A TIONA L TE A M SE LE CTIONS & RESULTS S E A S O N 2 0 1 8 / 2 0 1 9

Senior A Team (competed at 2018 World Championships in Plovdiv, Bulgaria) Men’s Coxless Four – Alexander Hill – GOLD Women’s Coxless Four – Molly Goodman - SILVER Women’s Quad Scull – Olympia Aldersey – 7th

(to compete at the 2019 World Championship in Linz Ottensheim, Austria) (Crews yet to be announced) Sweep - Olympia Aldersey Sweep - Molly Goodman Sweep - Alexander Hill

Senior B Team (competed at the 2018 World Championships in Poznan, Poland) Lightweight Women’s Double Scull – Verayna Zilm – 5th Men’s Coxless Four – Kane Grant – 6th

(competed at the 2019 World Championships in Sarasota-Bradenton, USA) Men’s Coxed Four – Angus Dawson – GOLD Men’s Coxed Eight – Alannah Gilsmore (coxswain) – 6th Lightweight Men’s Double Scull – Mitchell Reinhard – 7th

U21 Team (competed 2019 Trans-Tasman Regatta) Katelyn Nicholson, Oscar McGuiness

INTE R S TA TE RE GA TTA RESULTS S E A S O N 2 0 1 8 / 1 9

2019 Australian Interstate Regatta (Penrith, NSW)

GOLD Interstate Men’s Single Scull Alexander Hill 3rd King’s Cup Men’s Eight James Price, Jack Deans, Jack Kelly, Tim Santin, Kane Grant, Angus Dawson, Alexander Hill, Daren Potts (Coach)

4th Interstate Women’s Single Scull Olympia Aldersey 5th Queen’s Cup Women’s Eight Anna Collins, Gill Crowe, Mieka Webb, Molly Goodman, Olympia Aldersey, Verayna Zilm, Alannah Gilsmore (Cox). 5th Interstate Women’s Youth Eight Tonya Lokteff, Ella Bramwell, Katelyn Nicholson 6th Interstate Women’s Lightweight Sophia Nery, Christie Shanahan, Quadruple Scull Emily Webb (Reserve)

6th Interstate Men’s Youth Eight Xavier Barnett, Edward Jackson, Daniel Ralph (Coach) 7th Interstate Men’s Lightweight Oscar McGuinness, Simon Lane, Coxless Four Jack Kelly, George Nery (SPC/ARC)

2019 Australian Master’s Interstate Regatta (Champion Lakes, WA)

SILVER Interstate Men’s Masters D Matt Hooper Coxed Eight 5th Interstate Men’s Masters D Andrew Tidemann Quadruple Scull

N A TIONA L C HAMPIONSHIP RES ULTS S E A S O N 2 0 1 8 / 1 9

2019 Australian Rowing Championships (Penrith, NSW)

GOLD Open Women’s Coxed Eight Olympia Aldersey, Molly Goodman GOLD Open Men’s Single Scull Alexander Hill GOLD Under 23 Lightweight Men's Double Oscar McGuinness Scull GOLD Club Men's Double Scull James Price, Tim Santin, Daren Potts (Coach)

SILVER Open Women’s Coxless Pair Molly Goodman

SILVER Open Women’s Double Scull Molly Goodman

SILVER Open Lightweight Men's Quadruple Oscar McGuinness Scull SILVER Under 23 Men's Double Scull Jack Deans, Angus Dawson

SILVER Club Women's Coxless Four Anna Collins, Gill Crowe, Mieka Webb, Aine Seed, Catherine McDougall (Coach), Daren Potts (Coach), Ron Mobbs (Coach) BRONZE Open Women’s Coxless Pair Olympia Aldersey

BRONZE Open Women’s Double Scull Olympia Aldersey

BRONZE Under 23 Men's Coxed Eight Kane Grant

BRONZE Under 23 Lightweight Men's Single Oscar McGuinness Scull BRONZE Open Men's Coxless Four Angus Dawson, Alexander Hill

2019 Australian Master’s Rowing Championships (Champion Lake, WA)

GOLD Men’s Masters D Coxed Eight Matt Hooper

GOLD Men’s Masters E Coxed Eight Andrew Tidemann

ROWING SA C HAMPIONSHIP RESULTS S E A S O N 2 0 1 8 / 1 9

GOLD Open Women’s Coxed Eight Katelyn Nicholson, Ella Bramwell, Verayna Zilm, Anna Collins, Mieka Webb, Gill Crowe, Tonya Lokteff, Sophia Nery, Alannah Gilsmore (Cox) GOLD Open Women's Coxless Four Gill Crowe, Anna Collins, Mieka Webb, Aine Seed

GOLD Open Women's Quad Scull Taleala McCarthy, Taya Tarasenko, Verayna Zilm, Peta Terrell

GOLD Open Men's Quad Scull Tim Santin, Jack Deans, Angus Dawson, Oscar McGuinness GOLD Open Women’s Coxless Pair Ella Bramwell, Katelyn Nicholson GOLD Open Men's Coxless Pair Angus Dawson, Jack Deans GOLD Open Women’s Double Scull Christie Shanahan, Verayna Zilm GOLD Open Men's Double Scull Jack Deans, Angus Dawson GOLD Open Women’s Single Scull Ella Bramwell

GOLD Open Lightweight Men's Coxless Till Wichmann, Logan Four Sargeant, Simon Lane, William Sam GOLD U21 Women’s Coxed Four Ella Bramwell, Aine Seed, Katelyn Nicholson, Kyanne Townend, Bonnie Hall (Cox) GOLD Under 21 Women's Quad Scull Taya Tarasenko, Taleala McCarthy, Aine Seed, Kyanne Townend

GOLD Under 21 Men's Quad Scull Xavier Barnett, Edward Jackson, Jack Nilsen, Fred Moss-Davis

GOLD Under 21 Lightweight Women's Emily Webb Single Scull GOLD Under 17 Women's Double Scull Tonya Lokteff

ROWING SA PREMIERSHIP RESULTS S E A S O N 2 0 1 8 / 1 9

Results from the Rowing SA Premierships in the 2018/19 season are listed below.

Premiership Club Placing Adelaide RC 1st Senior Men’s St Peters College 2nd Port Adelaide RC 3rd Adelaide RC 1st Senior Women’s Torrens RC 2nd Seymour College 3rd Adelaide 1st University BC Master’s Men Port Adelaide RC 2nd Riverside RC 3rd Port Adelaide RC 1st Master’s Women Phoenix RC 2nd Torrens RC 3rd

C.A.M. WES T SHIE LD POINT SCORE S E A S O N 2 0 1 8 / 1 9

Verayna Zilm 26 Catherine Price 6 Mieka Webb 23 Kyanne Townend 6 Simon Lane 20 Till Wichmann 6 Sophia Nery 17 Matt Hooper 5 Anna Collins 17 Katie Luscombe 5 Aine Seed 16 Sidney Heitmann 5 Tonya Lokteff 16 Peta Terrell 5 Tim Santin 13 Tanja Klotz 4 Katelyn Nicholson 13 Andrew Tidemann 4 Cooper Williams 12 Anthony Zito 4 Jack Deans 12 Valeria Suhinin 4 Ella Bramwell 12 Andrew Hannon 3 Angus Dawson 12 David Eichler 3 Jack Nilsen 11 Oscar McGuinness 3 Joshua Harris 11 Lucy Last 2 Fred Moss-Davis 10 Alexandra Fry 2 Taleala McCarthy 10 James Andrewartha 2 Christie Shanahan 9 Jessica McRae 2 Gill Crowe 9 Bob Singh 1 Taya Tarasenko 9 Jack Kelly 1 Edward Jackson 8 Sam Jordan 1 Emily Webb 8 George Nery 1 Xavier Barnett 8 Michael Simons 1 Shannon Le Blanc 7 Brad Jackson 1 James Price 7 Ion Menadue 1

HONOR A R Y LIFE MEMBERS

Amiel Charlie * Binder Tas Blain W.H.G. * Burton W.L. * Clark R.D. * Coogan C.S. * Cudmore C.R. * Dean G.H. * Grayson A. J. * Grummet L.T. * Harry G.C. * Harvey Jim Hebblewhite Guy * Hill Patrick Humble Sam * Jamieson Jock Jarvis John Linnett D.N. * Matthews Tony * Menz H.V. * Milne F.K. * Morphett H.C. * Nicholls Jack * Osman Russell * Peterswald F.D. * Poole F.H. * Potts Daren Richardson R.F. * Richardson R.W. * Roberts Tony Runge C.E. * Sarah Neil Sarah O.A. Don Silz Alex Sharp J.J. * Sparks H.Y. * Suttell Edward Walker C.A.D. *

(*deceased)

LIS T OF MEMBERS S E A S O N 2 0 1 8 / 1 9

J. Absolon C. Field R. Keynes T. Albertini A. Fry R. King O. Aldersey A. Gilsmore L. Kittel J. Andrewartha S. Glenn T. Klotz B. Ashman M. Goodman C. Laing M. Barenski J. Grant S. Lane X. Barnett K. Grant J. Lasscock D. Barrera K. Gray L. Last J. Beale R. Green A. Le Quesne T. Binder C. Greening S. Leblanc O. Birchby D. Greening T. Lemmings D. Bosch R. Greening B. LeRiche S. Bowley N. Griffith-Morgan L. Ling E. Bramwell T. Guthrie M. Linton I. Bricher T. Guthrie A. Linton M. Broadbent T. Ha A. Lokteff J. Brook G. Hage T. Lunn V. Brown B. Hall K. Luscombe H. Buckland A. Hannon P. Mangelsdorf A. Buhavac J. Harris S. Masson K. Burn* E. Harris L. Mavrogiannis K. Byrt J. Harvey T. McCarthy F. Castrique* F. Headley* O. McGuinness J. Chenery S. Heitmann J. McRae D. Clements T. Hennessy I. Menadue A. Cohen A. Hill C. Mercer Fleetwood A. Collins G. Hill R. Mobbs S. Collins P. Hill L. Moran T. Collins D. Hislop E. Moroney-Plouffe B. Coudraye A. Holloway F. Moss-Davis M. Coutsoumbes M. Hooper R. Mukherjee D. Cropley h. Howell-meurs S. Mumford G. Crowe J. Howski E. Myatt O. Cummins R. Hudson G. Nery B. Dalton J. Hutt S. Nery* A. Dawson B. Jackson K. Nicholson J. Deans E. Jackson J. Nilsen A. Doughty C. Jackson T. Oldfield G. Duncan J. Jamieson M. Oliver H. Duncan C. Jarvis I. Oliver J. Dundas J. Jarvis D. Oliviero J. Dunstan M. Jarvis J. Osborne T. Dunstone A. Jeffery E. Page L. Earl G. Jeffrey F. Peljo J. Eglinton P. Jeffries C. Peter D. Eichler L. Jenkins T. Pha P. Emery S. Jordan B. Phillips W. Farrall J. Kelly M. Piovesan E. Felder-Shueard A. Kemp D. Potts 35

C. Price* M. Shearer L. Tuffnell J. Price T. Shelton R. Turnbull M. Reinhard* R. Shortland G. Ujvary H. Reynolds A. Silz C. Ujvary S. Rimes M. Simons O. Uykal T. Roberts B. Sinclair S. Vikor-Lam W. Routley B. Singh C. Walker-Roberts R. Rowlands C. Stewart D. Webb G. Rutherford V. Suhinin E. Webb S. Ryan S. Suhinin E. Webb A. Salleh N. Sukacz M. Webb T. Santin E. Suttell T. White D. Sarah A. Synusas T. Wichmann M. Sarah T. Tarasenko C. Williams N. Sarah P. Terrell P. Winter J. Sargeant L. Thomas A. Worthington L. Sargeant T. Threadgold G. Wyllie B. Sawley A. Tidemann R. Young J. Scarborough A. Tinsley-Smith V. Zilm A. Seed K. Townsend A. Zito* C. Shanahan B. Townsend (* non-financial)

F LEET

Boat Class Make

I’Zingari XXIV 8+ Empacher I’Zingari XXIII 8+ Empacher I’Zingari XXII 8+ Johnston Racing I’Zingari XXI 8+ Sykes I’Zingari XVIII 8+ Sykes Adelaide VI 4-/4x- Empacher Adelaide V 4-/4x- Sykes Adelaide III 4-/4x- Sykes Hunter XIV 4x Johnston Racing Hunter XII 4+/4x Johnston Racing Hunter XI 4+/4x Johnston Racing Hunter IX 4+ Sykes Hunter VIII 4+/4x Sykes Franklin 2-/2x Sykes Tarlow 2-/2x Ausrowtec Darling IV 2-/2x Sykes Inman 2-/2x Sykes Onkaparinga II 2-/2x Sykes Gawler 2- Sykes Sturt 2x Sykes Cascade 2-/2x Sykes Mitchell 1x Ausrowtec Arckaringa II 1x Sykes Swan 1x Sykes Light 1x Sykes Brownhill 1x Sykes Clarence 1x Sykes Bunyip 1x Sykes Blackwater 1x Sykes Unnamed 1x Sykes Fiddian 1x Johnston Racing Todd 1x Johnston Racing Avon 1x Johnston Racing Broughton 1x Howell Tamar VI 1x Howell