CRUISING YACHT CLUB OF AUSTRALIA ANNUAL REPORT CRUISING YACHT CLUB OF AUSTRALIA ANNUAL REPORT Year end March 31 2010 BOARD OF DIRECTORS Matt Allen Howard Piggott John Cameron Commodore Vice Commodore Rear Commodore Garry Linacre Paul Billingham Geoff Bonus Rear Commodore Treasurer Director Richard Cawse David Champtaloup Michael Cranitch Director Director Director Nick Kingsmill John Markos Director Director CRUISING YACHT CLUB OF AUSTRALIA Annual Report: Year end March 31 2010 CONTENTS Board of Directors, Management and Sub-Committees 2 Membership, Life Members, past Commodores & Obituary 3 Commodore’s Report 4 Treasurer’s Report 8 Sailing Committee Report 10 Audit, Planning & Risk Committee Report 13 Cruising Committee Report 14 Marina & Site Committee Report 15 Training & Development Committee Report 16 Member Services Committee Report 18 Associates Committee Report 20 Directors’ Report 22 Independent Auditor’s Report 26 Directors’ Declaration 27 Auditor’s Independence Declaration 28 Statement of Comprehensive Income 29 Statement of Financial Position 30 Statement of Changes in Equity 31 Notes to the Financial Statements 32 Supplementary Information 47 Members List 48 Yacht Register 58 Photo credits: Andrea Francolini, Steb Fisher, Kurt Arrigo & Daniel Forster / Rolex, CYCA Staff. 1 CRUISING YACHT CLUB OF AUSTRALIA ANNUAL REPORT Year end March 31 2010 BOARD OF DIRECTORS, MANAGEMENT & SUB-COMMITTEES 2009 – 2010 Board of Directors Commodore: M. Allen Vice Commodore: H. Piggott Rear Commodore: J. Cameron, G. Linacre Treasurer: P. Billingham Directors: G. Bonus, R. Cawse, D. Champtaloup, M. Cranitch, N. Kingsmill, J. Markos Management Chief Executive Officer: M. Woolf Assistant to Chief Executive Officer: C. Del Conte Accountant: N. McKinnon Sailing Manager: J. Kirkjian Operations Manager: B. McMahon Communications Officer: J. Crooks Senior Duty Manager: M. Gibson Sub-Committees Archives: M. Allen (Chairman), B. Brenac, T. Cable, A. Campbell, D. Colfelt, J. Keelty, B. Psaltis, P. Shipway, M. & J.York Associates: J. Treleaven (President), K. Brooks, R. Carr, P. Cox, J. Dahl, F. Davies, P. Emerson, A. Frampton, D. Hall, K. Kellett, A. Lulham, P. Messenger, C. Mulherin, P. Neate, S. Piggott Audit, Planning & Risk: M. Cranitch (Chairman), M. Allen, P. Billingham, M. James, N. Kingsmill, J. Markos Constitutional Review: J. Cameron (Chairman), T. Cable, A. Green, J. Keelty CYCA Cruising: D. Champtaloup (Chairman), J. Keelty (Captain) D. Doyle, P. Easton, A. Green V. Handel, A. Hawkins, T. Nobbs Disciplinary: H. Piggott (Chairman) Marina & Site: J. Cameron (Chairman), G. Bonus, A. Copley, A. Green, K. Stechmann Member Services: J. Markos (Chairman), D. Champtaloup, V. Mallett, J. Treleaven, S. Vahebzadeh Sailing: G. Linacre (Chairman), G. Bonus, R. Cawse, T. Cox, D. Doyle, L. Goodridge, J. Kirkjian, H. Piggott, G. Ross, P. Williams Redevelopment: J. Cameron (Chairman), M. Allen, G. Bonus Rolex Sydney Hobart Yacht Race: M. Allen (Chairman), L. Goodridge. M. James, G. Linacre, H. Piggott Training & Development: H. Piggott (Chairman), T. Barker, J. Brooks, A. Dunn, S. Jarvin, G. Linacre, J. Markos 2 CRUISING YACHT CLUB OF AUSTRALIA ANNUAL REPORT Year end March 31 2010 MEMBERSHIP, LIFE MEMBERS, PAST COMMODORES & OBITUARY Membership 31/03/10 31/03/09 Past Commodores A. E. Walker 1944 - 1946 Member 1,401 1,416 P. M. Luke 1947 - 1948 Country 206 189 M. E. Davey 1949 - 1951 Crew 43 48 S. Berg 1952 - 1953 Overseas 169 172 A. B. Wilson 1954 - 1956 YSA Crew 119 121 M. E. Davey 1957 - 1958 Junior 4 11 D. M. Brown 1959 - 1960 Associate 385 355 R. C. Hobson 1961 - 1962 Sailing Associate 20 23 B. C. Psaltis 1963 - 1964 Provisional 7 8 R. A. Cottee 1965 - 1966 Life 12 12 N. B. Rydge 1967 - 1968 Past Commodore 5 5 R. Crichton-Brown 1969 - 1970 Family/Junior 62 62 B. C. Psaltis 1971 Honorary 20 20 J. J. Bleakley 1972 Sponsor 6 5 J. N. Bridgland 1973 15 Year Member 16 18 J. P. Diamond 1974 - 1975 15 Year Country 5 7 G. N. Evans 1976 15 Year Associate 1 1 J. P. Diamond 1977 30 Year Member 141 137 A. Pearson 1978 - 1979 30 Year Country 45 44 K. C. D. Roxburgh 1980 - 1981 30 Year Overseas 11 11 G.S. Girdis 1982 - 1983 30 Year Associate 13 12 J. L. Brooks 1984 - 1985 30 Year Sailing Associate 1 0 A. E. Cooley 1986 - 1987 50 Year Member 23 24 D. B. Kellett 1988 - 1989 2,715 2,701 L. McClean 1990 - 1991 L.P. Minehan 1992 - 1993 D.C. Fuller 1994 - 1995 P.H. Bush 1996 - 1997 Life Members Year Elected H. Van Kretschmar 1998 - 1999 H. Sommer 2000 - 2001 A. D. Campbell 1980 J. Messenger 2002 - 2003 A. L. Brown 1992 M. R. James 2004 R. Grubb 1997 G. R. Lavis 2005 - 2006 D. A. Lawson 1997 J. F. Keelty 1998 P. H. Bush 1999 Obituary B. C. Psaltis 1999 Members who have sailed their last voyage: J. York 2002 Reginald Blake, Ronald Bramley, Arthur Byrne, P. Grounds 2004 Sally Gordon, Rolf Mische, John Morrison, A. L. Cable 2005 John Musgrove, Desmond O’Connell, Andrew Short. D. A. Van Ewijk 2007 J. C Messenger 2008 3 CRUISING YACHT CLUB OF AUSTRALIA ANNUAL REPORT Year end March 31 2010 COMMODORE’S REPORT Commodore Matt Allen I would like to thank you for allowing me to serve a third and our sponsorship for our major events. Audi are naming rights final term as your Commodore. sponsor for the Youth Sailing Academy, Audi Sydney Offshore Newcastle Yacht Race, Audi Sydney Gold Coast Yacht Race Your Board has been busy working on a number of strategic and the Audi Winter Series. initiatives important for the future of your Club. I am very pleased with the progress made and would like to congratulate We are also well supported by St Arnou for the Wednesday the members of the Board and the various Committee’s Twilight Series, Mt Gay for the Monday Twilight Series and involved, and our staff. Grant Thornton for the Short Ocean Pointscore and Short Haul Pointscore. Rolex Sydney Hobart Yacht Race The Club also enjoys support from many other companies Mark Woolf and I recently met with Rolex in Geneva to who partner our Members Badge Draw and support the discuss the renewal of the sponsorship of the Rolex Sydney Youth Sailing Academy. These sponsors are detailed elsewhere Hobart Yacht Race. There was broad agreement on the terms in this Annual Report. I would ask that you support them of the renewal of the sponsorship until the 2015 edition where possible. of the race. Once the details have been approved by both parties we plan to make a formal announcement. Financial Position We should all be proud that the profile of the event has I’m very pleased with our financial results this year. Both continued to grow strongly since Rolex became naming rights management and the Board have been very careful to sponsor in 2002. Two True’s victory in 2009 continued to continue the policies from previous years to ensure that confirm that this is not a grand prix only race! Congratulations the balance sheet is strong enough to tackle the proposed to Two True and to line honours winner Alfa Romeo. redevelopment of the premises. We have taken the vast bulk of the costs relating to the redevelopment into our expenses The coverage from both yachting and mainstream media is rather than capitalising them. better than ever before and importantly there are few races which carry the attention of sailors worldwide as the Rolex I’m also proud that membership subscriptions have been Sydney Hobart Yacht Race. The 2009 race was testament of kept at the same levels as last year, in fact they have only the status of our race for the entire world. increased by 3% since 2001. As I said in Hobart this year, the race has never been in better The Club will be debt free early in 2011, just in time for the shape but I’m sure her best years are ahead. anticipated start of the redevelopment project. Sponsors Please refer to our Treasurer, Paul Billingham’s report for more detailed information. The CYCA is extremely fortunate to have the support of the foremost sponsors in the domain of sailing. Our main Flinders Islet sponsors Rolex SA and Audi Australia are the mainstays of 2009 will be remembered as the year when we lost our two great friends Andrew Short and Sally Gordon during a race around Flinders Islet in early October. Our thoughts remain with their families and friends. I would like to thank the CYCA commissioned internal Inquiry Committee Chaired by Rear Admiral Chris Oxenbould AO RAN (Rtd) and Past Commodores David Kellett AM and John Brooks for their fine efforts in presenting such a detailed and carefully considered report. All the recommendations made by the Inquiry Committee were accepted by the Board and have either been implemented or passed on to Yachting NSW and Yachting Australia for their consideration. I would like to encourage YNSW and YA to consider the Committee’s recommendations at their earliest convenience. 4 CRUISING YACHT CLUB OF AUSTRALIA ANNUAL REPORT Year end March 31 2010 Constitution Once our application is assessed by council officers a report will be forwarded to the Sydney East Joint Regional Planning The Constitutional Review Committee Chaired by Rear Panel who in our case will act as the consent authority. We Commodore John Cameron has finalised their enormous are hoping a determination will be provided by August. task of rewriting our Club Constitution. I would like to thank John and his fellow Committee members Alan Green, and Life Once approval is granted we are planning for the project to Members Tony Cable and John Keelty for their considerable be completed in stages.