International Tennis Club of Australia (IC Australia) ANNUAL REPORT 2016 1 CONTENTS Page 3 Agenda AGM January 28, 2017 Page 4 President’s Report Page 5 Office Bearers & Committee 2016 Page 6 Treasurer’s Report Page 7 Investments Held Page 8 Financial Statement - Receipts Page 9 Financial Statement – Payments Page 10 AGM January 2016 Minutes Page 14 List of Financial Members 2 International Tennis Club (IC) of Australia Annual General Meeting To be held at Royal South Yarra Lawn Tennis Club on Saturday 28 January 2017 at 9.30am AGENDA 1. Notice of Meeting 2. Apologies 3. Confirmation of Minutes of AGM held 30 January 2016 4. Matters Arising 5. President’s Report 6. Treasurer’s Report 7. Report on Council of IC AGM held at LTA June 2016 8. Membership 9. Correspondence 10. Incorporation of the Club 11. Election of Office Bearers 12. General Business 3 President's Report I'd firstly like to thank the General Committee, and the sub committees, for their enormous efforts in 2016. The burden required to carry out the preparation for transition to an incorporated body, which will hopefully be approved at the AGM, has largely fallen to Noel Jensen, who on behalf of you all I'd like to mark our gratitude. There has also been heightened activity on the Match committee, so ably chaired by Kerryn Pratt, with our hosting of the IC of USA in January, the IC of Luxembourg in April, and the visit by the IC of Australia to the IC of Czech Republic and the IC of GB, which was thoroughly enjoyed by all. The year kicked off as usual with a very successful IC function at the Hopman Cup, followed by a big week at the Australian Open with the tennis day and lunch at Kooyong, the match v USA, the AGM, and our flagship event, the annual Lunch at Royal South Yarra, where all Grand Slam nations and the ITF were represented. At that function, I had the honour, along with Frank Sedgman, our Patron and the President of the IC Council, of presenting Rod Laver with the CQS Jean Borotra IC Sportsmanship award, arguably the most prestigious honour in international tennis. Significant change in our IC beckons in this transition period, and I must recognise the great contribution by those standing down, in particular our Senior Vice President Ken Rosewall, who is indeed a national treasure, and our Hon Treasurer Cliff Sproule Jnr (who's personal and endearing way of collecting fees for almost 30 years will be sorely missed by many), and committee member Cedric Mason, who continues as Vice President and arguably just as importantly as emcee of the IC Lunch. We were also able to welcome Steve Myers as Hon Secretary and two new members of the committee Mandy Morgan and Carol O'Sullivan. I must add that my own situation has significantly changed since a year ago. Being based overseas, the consequence is that I felt in all fairness that I could not continue as President and do justice to the role. However, at the IC Council AGM, I was seconded onto the (International) IC Council Executive Committee, and attended the recent November meetings in Paris. This keeps me involved in the IC movement. Since our patron and past president, Frank Sedgman, asked if I would consider becoming President, it has been an honour for me to serve you, and I wish my successor the sincerest best wishes, as well as to the esteemed organisation itself. Yours most sincerely, Paul McNamee AM President IC Australia 4 2016 IC Australia Office Bearers & Committee Patron: Frank Sedgman AM President: Paul McNamee AM Vice Presidents: Ken Rosewall MBE AM (Senior VP) Tim Cawthorn & Cedric Mason Hon Secretary: Stephen Myers Hon Treasurer: Cliff Sproule General Committee: Victor Eke, Noel Jensen, Chris Kachel, Helen Muir, Carol O’Sullivan, Kerryn Pratt, Wayne Pascoe & Mandy Morgan (seconded February 2016) Match Captains: Victor Eke (Victoria), Wayne Pascoe & Kerryn Pratt (NSW) Match Committee: Kerryn Pratt (chair), Stephen Myers, Helen Muir, Victor Eke, Chris Kachel, Noel Jensen, Wayne Pascoe & Carol O’Sullivan Membership Committee: Paul McNamee, Stephen Myers, Tim Cawthorn, Cliff Sproule, Kerryn Pratt & Chris Kachel Executive Committee: Paul McNamee, Frank Sedgman, Stephen Myers, Cliff Sproule, Tim Cawthorn, Cedric Mason & Victor Eke 5 TREASURER’S REPORT YEAR ENDING SEPTEMBER 30 2016 Ladies and Gentlemen, it gives me great pleasure to submit for your consideration the Statement of Receipts and Payments for the year ended September 30 2016. For the year ended 30 September 2016 there has been a further reduction in the Net Funds of the Club of $5,425. However the current General Committee have looked at positive ways to reverse this reduction in the Club Funds of the last couple of years so that the Club does not have to delve into recalling some of the Term Deposit that the Club has currently invested. The Interest earned and paid to our Club on the Term Deposits to 30 September 2016 was $2,552 and in addition there is accrued but unpaid Interest on our current Term Deposit of $50,000 at 30 September 2016 of $273.70. Our Membership Subscriptions showed an increase of $1,449. In the Expenditure there was a reduction of $562 in the amount our Club paid to the Council of IC’s for our Annual Subscription because the Council agreed to a reduction in the amount we had to pay them for the 2016 year. In addition the net cost to the Club of the Annual Lunch at the Royal South Yarra Lawn Tennis Club showed a reduction of $630. However there was an increase of $1,197 in the cost of the entertainer at that Lunch and your General Committee are looking at obtaining a suitable entertainer for the 2017 Annual Lunch at a more reasonable price. There was a reduction of $349 in the Printing and Stationery costs. On behalf of the Club I would like to thank (in alphabetical order) the following organizations for their continued support in 2016: . Kooyong Lawn Tennis Club . Mylund Advertising . Royal South Yarra Lawn Tennis Club . Tennis Australia I wish to record my appreciation to Paul McNamee and Steve Myers for their support and assistance during the past year. At the Annual General Meeting on Saturday 28 January 2017 I propose to formally move the adoption of the Statement of Receipts and Payments for the year ended 30 September 2016. C.M. Sproule Honorary Treasurer 6 INTERNATIONAL TENNIS CLUB OF AUSTRALIA INVESTMENTS HELD AT SEPTEMBER 30 2016 Institution Type of Deposit Amount Commonwealth Bank of Term Deposit of $50,000.00 $50,000.00 Australia invested on 11 November 2014 No. 06 2140 5046 3779 Interest @ 3.03% per annum matured on 11 November 2015. We reinvested this $50,000.00 together with the Interest Accrued for the 12 months of $1,650.00 @ 2.60% per annum for a period of 8 months to mature on 11 July 2016. For those 8 months we accrued Interest of $894.04 and that was credited to our Current Account together with the $1.650.00 Interest from the previous period which had been reinvested for those 8 months. On 18 July 2016 we reinvested the $50,000.00 in Term Deposit No. 06 2140 5046 3779 for a further period of 7 months at 2.70% per annum to mature on 18 February 2017. $50,000.00 7 INTERNATIONAL LAWN TENNIS CLUB OF AUSTRALIA STATEMENT OF RECEIPTS AND PAYMENTS 1/10/15 TO 30/9/16 2015 RECEIPTS 2016 $ $ Balance as at 1.10.15 1944.04 Commonwealth Trading Bank 19500.06 106.73 Macquarie Bank Cash Management 106.73 4438.55 IC of France Visit – Melbourne January 2015 0.00 4515.82 Aust. Taxation Office (GST) – to be paid to ATO 3989.05 3.11 Macquarie Bank – Interest 2.24 1336.37 IC of France Visit – Sydney January 2015 0.00 1287.92 Bank Interest – CBA 2551.60 7618.80 Membership Subscriptions – Current 9068.00 (1331.24) Surplus Aust Open Lunch – Melb. Jan 2016 (701.04) 709.15 Membership Subscriptions – in arrears 54.55 4000.00 Sponsorship & Raffles 0.00 1630.00 GST Refund Received from Aust. Taxation Off. 1136.00 1209.10 Prepayments – Royal Pines October 2015 (1209.10) 1727.33 2016 Australian Open Tennis Day 2181.74 21899.99 2016 Australian Open Tickets 12390.88 54.55 Sundry Income (Subs in advance) (54.55) 0.00 Sundry Income 68.14 18.18 Sales of Ties & Scarves 129.09 0.00 Western Australia Hopman Cup 2016 303.68 (1527.40) Life Time Memberships (1485.55) 35000.00 Return of Term Deposit - Commonwealth Bank 0.00 0.00 2016 USA IC Visit - Sydney 531.82 600.00 Prepayments – 2016 Overseas Tour 400.00 0.00 Royal Pines Event – October 2015 2518.22 0.00 Luxembourg IC Visit - Melbourne 1919.09 0.00 Luxembourg IC Visit - Sydney 681.80 0.00 USA IC Visit - Melbourne 695.47 0.00 Kooyong Wimbledon Dinner – July 2016 1890.87 85241.00 56668.79 International Lawn Tennis Club of Australia of Funds comprising 69606.79 64184.32 Credit Balance 19500.06 Commonwealth Trading Bank, Wynyard, NSW 14184.32 106.73 Macquarie Bank Cash Management, Sydney, 0.00 50000.00 Investments as per attached Schedule 50000.00 69606.79 64184.32 8 2015 PAYMENTS 2016 $ $ 63.64 Australian Davis Cup Foundation Annual Sub 63.64 1990.90 Annual Report 1390.00 2338.18 2016 Australian Open Tennis Day 2832.73 21900.01 2016 Australian Open Tickets 12390.88 0.00 Luxembourg IC Visit - Melbourne 3117.27 0.00 Kooyong Wimbledon Dinner – July 2016 1263.64 0.00 Luxembourg IC Visit - Sydney 1504.52 305.64 Postages 397.37 1529.86 Subscription to Council of IC’s 2016 938.22 198.64 Annual General Meeting Expenses 38.00 15000.00 Term Deposit – Commonwealth Bank – 0.00 540.82 Printing and Stationery 191.72 441.82 Prepayments - Royal Pines October 2015 (441.82) 0.00 IC of Australia Website 570.25 91.72 Committee Meetings/Expenses – 2015/2016 376.28 0.00 Overseas Tour 2016 313.14 5154.70 GST Paid (Recoverable from ATO) 4451.45 90.91 Flowers – T.