2018 annual report canberra rowing club inc. · presentation of the 2017-18 annual report (for...

2018AnnualReport

CanberraRowingClubInc.

54thAnnualGeneralMeeting

31July2018

2018AnnualReport P a g e | 1

TABLEOFCONTENTS

1.AGENDAFORTHE54thANNUALGENERALMEETING.................................2

2.MINUTESOFTHE53ndANNUALGENERALMEETING..................................3

3.PRESIDENT’SSTATEMENT............................................................................6

4.CAPTAIN’SREPORT.......................................................................................9

5.COMMUNICATION.....................................................................................13

6.MARISTCOLLEGECANBERRAROWINGCLUB............................................14

7.COMMITTEEMEETINGATTENDANCE........................................................15

8.CAPITAL(CLUBHOUSE)FUND.....................................................................16

9.FUNDRAISING.............................................................................................17

10.CORPORATEROWINGREPORT.................................................................19

11.ACTROWINGASSOCIATIONREPORT.......................................................20

12.TREASURER’SREPORT..............................................................................22

ATTACHMENTA–FINANCIALSTATEMENTS..................................................25

ATTACHMENTB–VARIATIONEXPLAINATIONS.............................................42

ATTACHMENTC–LISTOFMEMBERSasat30April2018..............................44

ATTACHMENTD–LISTOFCRCBOATSasat30April2018............................47


1.AGENDAFORTHE54thANNUALGENERALMEETING

CanberraRowingClub

2018AnnualGeneralMeeting

7pmon31July2018attheCanberraClub,Barton

AgendaitemNoting/Acceptance

1. Welcome

2. MembersPresentandApologies (fornoting)

3. Minutesofthe53rdAnnualGeneralMeeting2017 (foracceptance)

4. BusinessarisingfromAGM2017-nil

5. Presentationofthe2017-18AnnualReport (foracceptance)

6. President’sReport (fornoting)

7. Captains’Report (fornoting)

8. Treasures’Report (foracceptance)

9. Businesson-noticereceived–nil

10. ElectionofOfficeBearersandCommitteeMembers


2.MINUTESOFTHE53ndANNUALGENERALMEETING

2016-17AnnualGeneralMeeting

HeldattheACTRugbyUnionClub,Bartonon26July2017

Present:DermottBalaam,EdwinBien,ElaineBissaker,FionaBlackwell,JohnBlackwell,PeterBrooks,GeoffreyBrown,NeridaCarter,AlisonChinn,KerryCollins,DebbieCook,Janny,Corry,AlisonCreagh,MichaelCusack,GailDavis,PatDavoren,BarrieDenny,DennisDyer,AdairFerguson,KymFisher,NigelHarding,AngusHarding,JeffHart,HamishHarding,TomHayes,TimHodge,AlexHodges,KerryKnowler,MarkKwaitkowski,PeterLaidlaw,NicholasLatimer,RandalLawrence,MartinLittle,LorrainPhillipe,RebeccaMcCallum,DarrellNinham,ChrisPolychanin,AnitaPreiner,SuzieRagashoff,SelinaRowland,JohnSimson,HeatherSnedden,JohnSouthwell,JohnStrapps,SandraSweeney,KatherineTagg,TomTrobe,TonyWilkes.

Apologies:

DavidBoughton,IreneBrewer,PeterChivers,SueDonoghoe,LiddellRoberta,LyndellWilson.

MinutesofthepreviousAGMheld23July2016

AcceptancewasmovedbyDarrellNinhamandsecondedbyNeridaCarter Carried

BusinessarisingfromtheAGM

Nil.

President’sreport

GeoffreyBrown:

• summarisedhiswrittenreportandthankedallmembersoftheCommitteefortheirsupporttohimandsustainedeffortsoverthepastyear.

• NotedtheperformanceoftheClubgenerallywastheenvyofmanyclubs


• Outlinedthegold-winningperformanceofthemasterswomen’sinterstatequadattheAustralianMastersChampionship,andastheircoach,thankedthemforeffort.

• NotedthecontinuedgrowthoftheClubandtheneedtosustainfundraisingefforts

• Detailedhowthemasterssquadsneedtobeinvigorated,includingidentifyingcoachesandadministratorsforgradesB,C,andD.

• OutlinedtheClub’slearn-to-rowprogramandacknowledgedtheeffortsofallvolunteersfortakingtimeeachSundaymorningtosupportit.

• AcknowledgedtheneedfortheClubtocomplywithWorkingwithVulnerablePeoplerequirements.

Captain’sReport

TomTrobe:

• summarisedhiswrittenreportandpraisedtheeffortsofallClubcoaches,volunteers,andcompetitors.

• OutlinedTomPerry’ssustainedeffortoverthepastyearattheNationallevel.

• Highlightedmastersachievementcoming4thoverallattheAustralianMastersChampionships.

• OutlinedtheACTgradingsystem,andthatotherjurisdictionswherefollowingtheACTmodel.

• Outlinedequipmentpurchasesoverthelastyear,notingthattheClubhasalargerfleetthenmanyoftheSydneyclubs.

• AcknowledgedandthankedboththecoachesfortheireffortinsupportingClubcrewsoverthelastyear,andthoseClubmemberswhoprovidetheirpersonalvehiclestotowtheClubboattrailertoandfromregattas.

Treasurer’sReport

JeffHartsummarisedhiswrittenreporthighlighting:

• Revenueswereupforthereportingyearbyapproximately9%,resultinginaprofitincreaseofapproximately$75,000.00.

• Membershipsubscriptionswereupbyapproximately16%


• AcknowledgedaminorerrorintheAuditorsReportandwouldcorrecttheon-lineversionofit.

• Acknowledgedthatfurtherdetailscouldbeaddedtothereportwithrespecttochangesfromoneyeartoanother,includingrackfees.

• ConfirmedandoutlinedtheClub’sthreetermdepositsincludingseparateliquiditydates.

AcceptanceoftheTreasurer’sReportwasmovedbyJeffHartandsecondedbyDarrellNinham. CarriedPresentationoftheAnnualReportfor2016-17

GeoffreyBrownthankedtheCommitteeforcompilingtheAnnualReport.Therewerenoissueswiththereport,acceptanceofitwasmovedbyJohnSimsonandsecondedbyDarrellNinham. Carried

TransactionofanybusinessforwhichpropernoticehadbeengivenundertheRulesoftheClubNil.

OtherBusinessNil.

ElectionofOfficeBearers

GeoffreyBrownnotedthefollowingpositionsreceivedonenominationonlysoweredeemedtobeelected:

President GeoffreyBrownVicePresident DarrellNinhamSecretary PeterBrooksTreasurer JeffHartCaptain TomTrobeViceCaptain PatDavoren

Fromfivenominations,thefollowingthreememberswereelectedtocommitteememberpositions:

KatieTagg NeridaCarter TimHodge


3.PRESIDENT’SSTATEMENT

Istartthisyear’sreportonaverysadnote,acknowledgingthepassingofaloyalandcommittedClubmemberwhowasalsoagreatmate,MickClifford.Mick’spassingearlierthisyearfollowedalongstrugglethatheeventuallylost.Hewasaffordedafullmilitaryfuneralandthedaywas,quiterightly,acelebrationofthelifeofagreatman,lovingfatherandpartnerextraordinairetoAlison,heisverysorelymissed.

IalsonotethisyearthedepartureofseveralstalwartsoftheCommitteeandacknowledgetheirtirelesscommitmenttotheClubandtheirfrankandhonestvoiceinmeetingsandaroundtheshed.Iwanttotakethisopportunitytospecificallyacknowledgetheiradvice,supportandmotivation,bothtomyselfbutalsotheCommittee,especiallyduringsomechallengingtimesearlyoninmyPresidency.Thankyou,PatrickDarrell,NeradaandPeter.

Iamveryproudtoadvisethatourfinancescontinuetobeinaveryhealthystate.TheBoathousefundhas$409,400intermdepositwithafurther$17,700ofexpenditureincurredtodateontheproject.Whilstthenetoperatingsurplusfortheclubdecreasedby$45,000againstthepreviousfinancialyear,theclubwasstillabletoaddafurther$67,000totheTermDepositandretainedover$50,000incashattheendoffinancialyear[detailsavailableintheTreasurersReport].Thisresulthighlightsourongoingandcautiousapproachtocashmanagementwithintheclub,whichinlightofthereducedrevenueandourfocusonbuildinganewboatshed,ismostappropriate.

AtthispointIwouldliketotakeamomenttoacknowledgethecommitmentandprofessionalismofourTreasurer,Jeff,whowillbepassingonthebatonthisyear.TheTreasurer’sroleisathanklessone,andrequiresmanylonghoursoutsideofworktomakesureallthebillsarepaid,membershipfeescollected,themonthlyaccountsproducedandtheannualauditfacilitated,amongaraftofotherduties.ThankyouJeff,asafellowaccountant,Ihaveverymuchvaluedyourworkandtheprofessionalismyoubroughttotherole.

ItisappropriatethatIprovideabriefupdateonwhereweareatwiththenewboatshed.OurfocuscontinuestobearoundtheraisingoffundsandtothisendIthankeveryonewhohasparticipatedinfundraisingactivitiesorsimply


madeacashcontribution.Whileourfundscontinuetogrowtowardsanamountthatwillallowustomoveforward,thesimplefactisthat,wenowhaveamuchbetterunderstandingofwhatthenewfacilitywillcost.Unlessweareabletowinsupportfromawealthybenefactororgovernmentprogram,andavoidoverextendingourselvesintermsofdebt,weneedtobepatientforafewyears.IbelievethatitisnotintheClub’sbestinteresttotakeonalevelofdebtbasedonassumptionsaboutfuturegrowthandincome,ashighlightedthisyearwiththedropinmembershipfees.Duringthistime,wewillneedtoworkhardertoidentifyfurtheropportunitiesforfundraising.

Iturnnowtoouronwaterachievements.

OurinterstateresultsconfirmedourpositionasoneofthetopregionalClubsinthecountry.Thiswasdemonstratedbyclaimingsecondplaceinthepointscoreatthisyear’sTrickettRegattaandattheNSWMastersChampionships.OursmallteamattheNationalMastersChampionshipsatLakeBarringtonalsopunchedwellaboveitsweightwithsomeexceptionalperformances.

TheClubwassuccessfulinretainingallthemajorRACTPremierships–Men’s,Women’sandAggregate.Clubrowersacrosstherangefromjuniorstomasterscanbeproudofthisresult.However,wecameawayfromtheChampionshipswithamuchdiminishedshareofChampionshipTitles.ThisisinpartduetoourrivalsbeingrepresentedbyathletesfromtheACTHighPerformanceProgramwithalltheadvantagesconferredbyelitelevelcoaching.Wewerealsohinderedbyashortageofsuitablyexperiencedathletesforourwomen’sprogram.

Tostrengthenourseniorcrews,theCommitteeinitiateddiscussionswiththeUniversityofCanberratoprovideapathwayforstudentswithrowingexperience,aswellaspromisingbeginnerstorowfortheClub.ThisinitiativewaswellreceivedandiscurrentlybeingconsideredbytheUniversity.TherehavealsobeenextensivediscussionswithRowingAustraliaandtheACTHighPerformanceProgramtoensurethattheClubhastheopportunitytoparticipateinthedevelopmentoftalentsearchathletes.IacknowledgetheworkbyMarkKwiatkowskiandTomTrobeinpreparingfortheserepresentations.


Finally,IcannowadvisethatweareontracktodeliveroneoftheobjectivesIsetmyselflastyear.Overthiswinter,withsupportfromafewdedicatedmemberswehaverunaverysuccessfulyouthprogramwithapproximately20participants,maleandfemale.Ibelievewehavesetthefoundationsforaverysuccessfuland,moreimportantly,sustainableprogram.Idon’tthinkitisoverlyoptimistictoassumewewillseeanACTmen’sandwomen’sYouthVIIIcompetingattheAustralianRowingChampionshipwithinthenextthreeyearsbuiltaroundcrewmembersthatweremotivatedbythisinitiative.

Iamalsopleasedtoacknowledgethegreateffortofanumberofourmasters,ledbyDarrell,whohavegotbehindtheideaofamasterstrain-onsquad.ThiswillkickoffinAugustandwillIbelievecontributetoevengreatersuccessforourmaster’smembership.Ialsobelievethatthiswilllaythefoundationsforanotherofmyobjectives–ensuringthegrowthinourCandDMasterscategories.

Finally,andasIsaidinmyreportlastyear,IwouldliketoacknowledgethegreatsupportofmyfellowCommitteemembersespeciallythosethathavechosentomoveonandfacilitatearefreshofourranks,Patrick,Darrell,Nerida,PeterandJeff,yourcontributionshavebeenimmeasurableandIhavenodoubtyouwillallcontinuetocontributeinyourownways,thankyou.

GeoffreyBrown

President


4.CAPTAIN’SREPORT

IthasbeenanotherenjoyableyearastheClubCaptainoftheCanberraRowingClub.

SeasonHighlights

• AustralianNationalChampionshipo TomPerrypartofthewinningopenlightweightmen’squado TomPerrypartoftheACTLightweightMen’sFourthatplaced

third–bestresultfortheACTinthisevent• ClubperformanceatAustralianMastersRowingChampionships

o 8goldmedalso AnneNicolaywinnerheragedivisionsinthesingle

• MostsuccessfulClubattheACTChampionships

o RetainedPhereNikiTrophy(ClubwithhighestpointscorefromACTChampionshipregatta)

o RetainedtheMen’sandWomen’sandOverallPremiership.

Equipment

Astheclubcontinuestosavefortheboatsheddevelopment,equipmentpurchasinghasbeenkepttoaminimum.Theclubacquiredarangeofsecondhandsweepoars.Thisremovesallnon-adjustablesweepsoarsfortheclub.Withtheadditionaloars,four‘pink’sweepoarhandleswerepurchasedasatrial.Thesehaveprovensuccessfulandwewillplantohaveafulleight.

Therefurbishmentandconversiontoquickreleasehasprovensuccessful,especiallyfortravellingregattas.Theabilitytotransportfewerhullseasestheburdenontravelandreducesimpactontravellingboatstotheclub.

Equipmentdamagehasbeenatamanageableleveloverthepast12months.Damageatthewatersedgecontinueswithboatsbeingrunaground.LandingwillbecomemorechallengingwiththeadditionoftheCGSpontoon.Aremindertoeveryonethatyoucannotgowrongwithaslowcautiouslanding.


Theergshavebecomeingreaterdemandoverthepastyearsandinneedofmaintenanceandreplacement.Thecommitteewilllookintomethodsofprocurementandrepairs.

Furtherminorrefurbishments(shoes,slidesandwheels)ofboatswillhopefullyoccuroverthecomingyear,withtheclubsfiscalpriorityonbuildingthenewboatshed.

Overall–thefleetofboatsisingoodconditionandagoodvarietyavailable.

Programs

TheclubhascommenceddiscussionswiththeUniversityofCanberratowardsapartnership.TheuniversityhaspositioneditselfasaprominentsportinginstitutionwithAustraliaanddoesnothavearowingprogram.Initialdiscussionshavebeenaroundsponsorships,unigamesparticipationandalearntorowprogram.Thefirstgroupofstudents(between20-30)areplannedforthe2018-19season.

Competition

Thisyeartheclubhasmaintainedahighlevelofcompetitionparticipationandsuccessestablishedoverthepastyears.AgaintheClubhasretainedthemen’s,women’sandoverallpremiershipinthelocalcompetitionandisincreasingourpresenceatinterstateregattas.Allmembersoftheclubhavecontributedtotheseamazingresults.Thankyoutothememberswhoorganisecrews,entriesandtraining.Ahugethankyoutoallthecoachesandcoxes–theseresultswouldnotbeachievablewithyourtirelesseffortsandcommitment.

Elite

TheclubhascontinuedtoseeremarkableresultsfromTomPerry.Hehasmaintainedhisprominentleveloftrainingandcompetitionthroughouttheseason.

AttheAustralianNationalChampionships,TomwaspartofthewinninglightweightquadandtheACTInterstateLightweightFourthatplaced3rd–thisisthebestresultfortheACTinthisevent.


ClubGrade

TheClubGradeprogramhascontinuedtosolidifytheirpresenceinthelocalrowingsceneandisbeginningtocrackintotheinterstateregattas.Thisisevidentwithstrongparticipationacrossabroadrangeofgradesandboatclasses.

Seasonhighlights

4. Solidparticipationingraderegattaslocallyandinterstate5. Winning9medalsatEdTrickettregattainSIRC(1gold,4silverand4

bronzemedals).ThiseffortplacedCRCineighthplace.6. Growthinadministrationfromwithinthesquads–criticaltothe

continuedprogramandsustainability

MaristSchool

Astheclubcompletesits8thyear,MaristRowingClubhasmigratedtheirboatsacrosstotheCGGSshed.Thisishugeeffortfortheclubandgreatprogression.

TheMaristprogramwillstillutiliseequipmentfromCRCinthe2018season,butwillbearentalagreementnotmembership.

Masters

TheinitiationoftheMastersSquadtraininggrouphasbeengreatlyreceivedbythemembers.Thegrouphasbeensetupinsimilarethostothemen’sandwomen’ssquadsthathavebeenoperatingforthelastfewyears.Themaingoalistooperateaninclusivegroupandallowmemberstoparticipateandcompetetotheirlevel.

Themastershavehadasuccessfulseasonagain,travelingaroundthecountryandworldandsolidifyingthatCanberraRowingClubisaforcetobereckonedwithinmastersdivisions.

Locally,themastersparticipatedstronglyinthegradesystemthatremovedthespecificageclassificationraces.TheparticipationandresultsattheACTChampionshipswasalsoagainanoutstandingeffort.


AttheNSWMastersChampionship,CRCplacedsecondbehindNorthShore.18medals(10gold,4silverand4bronze).AnoutstandingeffortfromRickMartinwith5goldmedalsfromtheregatta.

AsmallcontingentofCRCMasterstravelledacrosstoTasmaniafortheAustralianMastersChampionships.Therewasabroadrangeofentriesfromtheclub.AnotablementionofAnneNicolay–winningheragecategoryinthesingleandplacing5thintheChampionofChampionsrace.Annealsoplacedfirstinthreeotherraces.

Ahugethanktothecoordinatingvolunteersandtrailertowers.Thesearelargeregattasandeverybitofhelpisgreatlyappreciatedbyall.

Coaching

Again,thevolunteercoacheshavebeencontributingtirelesshourstotheclubtohelprowersofallagesandabilitiesimprovetheirrowingandresults.WeareextremelyluckytohaveateamofEdwin,Alison,Mark,Geoff,andDarrell.Manyoftheabove-mentionedresultsandoutstandingperformancesareduetotheeffortsofthecoaches.

IwouldliketoalsomentionthehoursofeffortfromDermottBalaamandSuzeRogashofffortheSundayLearnToRowsessions.

IthasbeenanotherenjoyableseasonascaptainoftheCanberraRowingClub.ThankyouforallthesupportIhavereceivedfromthecommitteeandmembers.

Tom

ClubCaptain


5.COMMUNICATION

Thecommitteestrivestoachieveacontinuousflowofcommunicationtoallmembersacrossmultiplemediums.Emailandnoticeboarddisplaysarestilltheofficialmediumforclubcriticalinformation.

TheclubascontinuedtogrowthesocialmediapresencewithanincreaseinbothInstagramandFacebook.Thesetwoplatformsarecriticaltocommunicationwithjuniorrowersandhavebeenanexcellentplatformforenquiresfornewmembers.Overthepast12months,Instagramhasgrownto338‘followers’andFacebookashadanincreaseby57to427‘followers’.

Emailcommunicationistheprimarymediumfortheclub.Thecommitteehassentapproximately45QuickCatchesinthepast12monthsand4majorcommunicationsregardingtheBoathouseProject.

SincethelastAGMtherehavebeenroughly40QuickCatchesdealingwitharangeofmatters.Theyhavebeentimelyandtothepoint.

Theclubwebsiteisstillbeingupdatedwiththeassistanceofmembers.


6.MARISTCOLLEGECANBERRAROWINGCLUB

MaristCollegeRowingprogramsinseveralformshaveoperatedintheCluboverthelast35yearsastheClubhasendeavouredtoestablishMaristasanindependentrowingclubwithaviewto

• growingthesportthroughtheadditionofastrongschoolrowingprogramindependentofClubsupport;

• establishingasourceofwell-trainedrecruitstotheClub’sseniormen’srowingprogram.

OverthelastfewyearsMaristCanberraRChasgrownstronglyinnumbersandacquiredsignificantnumbersofboatsofvariousqualitywhilestillmakingheavyuseoftheClubfleet.Inamajorsteptoindependentoperation,theclubhasrecentlyleasedstoragespaceintheformerGirl’sGrammarCCEGGSboatshedonYarralumlaBayandmovedmostofitsequipmenttothissite.

ItisexpectedthatMaristwillwishtosourceequipmentthatitcurrentlydoesn’thavebyhiringitfromtheclub.TheClubiscurrentlyconsideringwhatequipmentmightbemadeavailableforusebyMaristandthetermsofitsuse.

TheMaristprogramhasoperatedinitscurrentiterationasan“activity”programwheretheemphasisisongivingstudentstheexperienceofrowingwithpreparationofcrewsforcompetitionbeingasecondaryconsideration.ThisapproachmayexplainwhyfewMaristrowerscontinuewiththesportafterschoolandevenfewerjoinCanberraRC.

Marist’sdeparturewithover60juniormembersandtheirsubscriptionswillleaveasignificantholeinourbudgetbutitwillalsoleaveusfreetoengageinschoolcollaborationsthatmayprovemorefruitfulingrowingtheseniorranksoftheClub.


7.COMMITTEEMEETINGATTENDANCEAtotalof9Committeemeetings*wereheldduringAugust2017toJuly2018:

Member Position MeetingsAttended

GeoffreyBrown President 9

DarrellNinham Vice-President 9

PeterBrooks Secretary 8

JeffHart Treasurer 8

TomTrobe Club-Captain 7

PatDavoren ViceClub-Captain 7

NeridaCarter CommitteeMember 9

TimHodge CommitteeMember 8

KatieTagg CommitteeMember 9

*ThistotaldoesnotincludethetwoAppealmeetingsheldinJanuary2018


8.CAPITAL(CLUBHOUSE)FUND

Duringthe2010-11season,theCommitteeresolvedtoestablishacapitalfundwiththedualobjectivesofaccumulatingsufficientmoneyforredevelopmentoftheboatshedandprovidingacontingencyreservetomeetunexpectedcallsonClubfunds.

Theoriginalcommitmentwasforaminimumof$20,000peryearbesetasideforaCapitalFund.Theclubhascompletedourninthyearandhasmorethandoubledtheamountoriginallyplannedforthistimeframe.

TheCapitalBoatshedfundhasraisedatotalof$348,943.24asat30April2017.

TheCRCBoathouseFundhasexpended$17,696.59(incGST)acrossrelatedactivitiesofSiteSurvey,Geo-techreports,regulatorychecks,fireratingrequirements,detaileddesignandstructuralengineeringinthepastthreefinancialyears.Thecashbalanceasat30April2018is$409,405.74,thisiscurrentlyheldinTermDepositwithWestpacBank.

2009-10 $20,000.00 2010-11 $20,000.00 2011-12 $30,000.00 2012-13 $25,000.00 2013-14 $35,000.00 2014-15 $55,882.33

2015-16 $67,289.49

2016-17 $95,771.42

2017-18 $78,159.09

TotalContributions $427,102.33 LessExpenditure (17,696.59) TermDeposit

Balance$409,405.74

Itisfurthernoted,in2016-17,theclubreceivedanadditional$18,000ofdonateddesignservicesfromTTArchitecturetowardstheBoathouseProject.

JeffHart

Treasurer


9.FUNDRAISING

During2017-18,thecommitteehasbeendeterminedtodrivefundraisingeffortsandhascontributed$78.159.09totheBoathousefund

Fundraisingsupplementedthe$20,000savingscommitmentanddonations.Fundraisingactivitiesundertakenduring2016-17included,butarenotlimitedto…

• VolunteerMarshallingat- FairfaxRunningFestival- CanberraTimesFunRun

• CorporateRowingandLearntoRow• DonationstotheclubmembersviatheASF• AnnualDinnerDonations• Merchandise(StubbyCoolers)• BoathiretoSGGSRowingCamp.

Thecommitteewouldliketothankallclubmembers,whocontinuetocontributebothtimeandefforttoassistinfundraisingactivities.

Itisfurthernoted,withthecontinuedsupportoftheClubCaptain,thecommitteehaskepttheongoingpolicyoffleetrefurbishments.Thispolicyistolimitnewpurchasesduringthisperiodoffundraising-leadinguptotheconstructionofthenewBoathouse.Thebenefitsaretwofoldinmaintainingacoreofthecurrentfleettoahighstandardforracingandtomaximizethelifespanofthecurrentfleetandimproveutilisationofcurrentassetbase.Althoughitisrecognisedthatwiththehigheranticipatedcostsfortheboatshed,duetotheBCAcompliancewithfireratingcode,willnecessitatethecontinualreviewandpossiblerelaxingofthispolicy.

WiththesupportoftheAustralianSportsFoundation,thecommitteehascontinuedtheCanberraRowingClubFoundation.TheAustralianSportsFoundationprovidesdonorsavehicleforTaxDeductabledonationstoCanberraRowingClub.TheClubreceived$17,209.73ofdonationsduringthe17-18financialyear.


The‘Foundation’utilisestheonlineportalfromtheAustralianSportsfoundation,whereCRCholdsitsownwebpage.Thisportalacceptsonline‘taxdeductible’donationsandholds‘deductiblegiftstatus’forthebenefitofdonors.

https://asf.org.au/organisation/canberra-rowing-club-inc/

Thebuildingfundisprogressingwellwithover$425,000raisedand$410,000intermdeposit.CRCistargetingaCapitalgrantthroughtheACTGovernmentandworkingwithACTIVECanberra(formerSportandRecreation)tomakesuretheclubisbestplacedintheGrantsround.ThecommitteeisalsolookingatanyotherGrantsopportunitiesandhastargetedtheHoldenHomeGroundAdvantageGrantsProgram.

Pleasecontactthecommitteeifyouareawareofanyothersuitablegrantsthatalignwiththepurposeofbuildingaclubhouse.

Alreadyinthe2018-19financialyear,wehavehadsomegreatfundraisingeffortsundertakenincludingvolunteeringattheAustralianRunningFestival,donationsfromtheAnnualDinnerandthekinddonationswereceivedthroughtheAustralianSportsFoundationattheendofthefinancialyear.

Theclublooksforwardtoyoursupportintheupcomingfundraisingactivities

JeffHartTreasurer


10.CORPORATEROWINGREPORT

TheClub’sheldits16thCorporateRowingProgramduring2017-18.Followingadisappointingresponsetorecruitmentandthewithdrawalofseveralcrewsthatwereexpectedtoparticipate,theviabilityoftheeventwasinquestion.Fortunately,DefenceVeteransprovidedacrewandSallyCleargotacrewtogethercomprisedoffriendswhowantedtolearntorow.

TheprogramendedwithashortregattaadjacenttoYarralumlaBaySunday19November2017.ThewinningcrewwasDefenceVeterans.Despitethesmallentry,weallenjoyedcelebratingtheVeteranssuccessatabarbecueattheboatshedorganisedbytheseniorsquad.

Sally’seffortsdemonstratethatitispossibletorecruitcrewsforCorporateRowingdespitetheunfavourablefinancialenvironmentforGovernmentagenciesthathavebeenthemainstayoftheprogram.FourmembersofthecrewsherecruitedwentontojointheClub.Severalmembersmadedeterminedeffortstorecruitcrewsthatwereultimatelyunsuccessful.Despitethis,wearegratefulforthemhavingago.

Inadditiontofinancialbenefits,corporaterowinghasprovenpotentialtoprovideanimportantavenueforrecruitingcapablenewClubmemberswhoemergefromtheprogramreadytotrainandraceinClubcrews.Ex-corporaterowershavebeenprominentintheClubbothascoachesandassomeofourmostenthusiasticcompetitors.

ItismoreimportantthaneverforgrowingourfinancialandorganisationalstrengththatCorporateRowing2018isagreatsuccess.DatesforCorporateRowing2018are:

StartTraining Monday22October2018EndTraining Saturday17November2018Regatta Sunday18November2018


11.ACTROWINGASSOCIATIONREPORT

AsafoundationclubofRowingACTanditslargestaffiliatedclub,theClubhasaparticularresponsibilitytosupportRACTanditsactivities.ThisistakesplacethroughtheworkofourmembersontheRACTBoard,itssubcommitteesandtheUnionofBoatRaceOfficials.

ClubmemberAlisonChinnservesontheRACTBoardinadditiontoherconsiderableworkloadfrommanagingtheeventprogramforeachregatta.TomTrobeservesasChairmanoftheregattasubcommitteeandapplieshisinformationtechnologyskillstoenhancementofregattaentrysoftwareanditsnationalapplicationthroughRowingAustralia.TomwasawardedtheCliffHillShieldforservicetoACTRowinginthe2017-18season.

EdwinBien,AlanButoracandBrendonProutserveasactivemembersoftheUnionofBoatRaceOfficials.SusanLinacreisamemberoftheRowingAustraliaMasters’CommissionthatadvisesRowingAustraliaonpolicyformastersrowing.

JohnSimson,alongwithAlexLeitchofBlackMountainRowingClubhaveputinmanyyearsmaintainingRowingACT’sbuoyedcourseonYarramundiReach.TheyrecentlyretiredfromthisrolewhichhasbeentakenonbyClubmembersMaxineJamesandScottPagan.

Staffing

ThescaleandcomplexityoftheoperationsofRowingACThasincreasedwithassumptionofresponsibilityfortheACTHighPerformanceProgram.RACTnowhasresponsibilityforthestaffoftheProgram,HeadCoachNickGarrattandPathwaysCoachRenaeDomaschenz.Toaddresstheadditionalworkload,RACTengagedKatrinaWisemanasapart-timeHighPerformanceCo-ordinatortoprovideadministrativesupporttoourcoaches.LukeHennessyiscoachingtalentsearchathletesonapart-timebasis.

EarlythisyearRACTExecutiveOfficerJoshO’BrienresignedhispositiontotakeuptheroleofCEOofBoxingAustraliaLimited.PendingtheappointmentofJosh’ssuccessor,volunteerofficebearerssuchasAlisonChinnandVince


McMahontookoverhisduties.Josh’sreplacementisSophieGalvinwhohasastrongsportsadministrationbackground.

Infrastructure

RACThasbeenstrivingforseveralyearstoidentifyacentralsiteforstorageofregattaequipmentincludingthefleetofBROmotorboats.TheoptionoftheAssociationoccupyingBMRCboatshedwithBMRCmovingtoanewboatshedsiteisnolongeravailablefollowingrecentchangesannouncedbytheACTGovernmentondirectsaleoflandtocommunityorganisations.Asaninterimmeasure,equipmentwillbestoredatasecureTriathlonACTfacility.

RowingACThasplanningapprovaltoaddafourthboatingpontoontoourregattasite.Thiswillprovidepermanenttwoinflowandtwooutflowpontoonsatregattastoexpeditetrafficflowtoandfromthesite.

RegattaStructure

Theregattagradingsystemhasresultedincloserracinglocally,andthecommunityisenjoyingtheimprovedcompetitionthathasresultedacrossthegrades.The2017-18seasonwasthefirstyearofhavingthegradingsystemautomated.RowingACTseedsdivisionsofracesandistheonlystateinAustraliausingtheautomatedseedingfunctionintheregattamanagementsoftware.


12.TREASURER’SREPORT

In2017-18,theClubachievedanoperatingsurplusof$45,146withacashpositionattheendoftheyearof$459,738.ThisincludesthenetfundscommittedtotheCapitalFundforthenewBoathouseof$427,102(with$17,210ofthisexpendedontheboatshedtodate).ThecontributiontotheCapitalfundfrom2017-18is$78,159.

Banking

Duringthe2017-18year,theCommitteehasmaintainedtheClub’sbankaccountsatWestpacandclosearedundantStGeorgeaccount.Theaccountskeptincludeacurrentbankaccount,cashreserveaccounts,termdeposits,merchantfacilityforEFTPOStransactionsandadebitcardfortheClubCaptaintouseforgeneralexpensesinrunningtheclub.TheStGeorgeaccountpreviouslydeemedsurplustorequirementshasbeenclosedon24July2017.

Membership

MembershipFeesof$102,350werereceivedduringtheyear.Themajorityofincomewasreceivedinthelastquarterofthe2017whenannualrenewalsaredue.MembersjoiningafterOctoberhavepaidapro-ratedmembershipfee.

Theclubhadanetdecreaseof59membersrecordedduringthe2017-18financialyear,revisingthetotalmembershipto228.

Themajormovementsareadecreaseof…

- twenty-eight(28)junior-studentandthree(3)coxswainmembersfromMaristcollege,throughthetransferofthejuniormemberstoLakeTuggeranongRowingClub

- twentyfour(24)beginnerseniormembersfromthecorporateprogramme

TheClubassistsitsmembersthatownboatsandoarsbyarrangingbulkinsuranceofequipmentundertheRowingAustraliaInsurancePolicyarrangementwithWillisInsurance.RowingAustraliahasmovedthispolicytoAonInsuranceandtheclubmovedfromV-Insuranceattheendofitspolicy.


Insurance

TheClubmaintainsthefollowinginsurancepolicies:

• Building&Contents• BoatInsurance&Liability• ProfessionalIndemnity• Trailercomprehensiveand3rdpartyforclubtrailers

RowingACT

ThefollowingfeesarepaidtoRACTonbehalfofmembers:

RegistrationFees $65SeniorMembers $30JuniorMembers $25CoxswainMembersAffiliationFees $20eachmember

Anumberofpaymentshavebeenmadetoclubmembers.ThesepaymentswereareimbursementofexpensespaidbythoseclubmembersonbehalfoftheClubandaredocumentedbyreceipts.

Clubassets

NonCurrentassetsincludetheBoatshed,rowingboats,oars,motorboats,ergometersandmiscellaneousitems.TheBoatshed,anditsfixturesandfittings,wasvaluedat30April2000toitsreplacementcostsof$280,000.Thefleethasadepreciatedvalueof$314,639asatthe30April2018.

ThelandundertheshedisoccupiedbytheClubviaacommunityleaseandthereforeisnotincludedinthevalueofassetscontrolledbytheCanberraRowingClub.TheAverageUVofthelandforratespurposesis$70,300.

CapitalPurchasesforthefleetduring2017-18:

• 2xScullOars• 8sweepoarsfromRadford

Thecommitteedidnotsellanyitemsduring2017-18.


DepreciationRatesusedare:

• Boatshed Nil• Boats&Oars 6.66%• Allotheritems 10.00%

ClubAuditor

ChristineReidandNikkiGeorgePtyLimitedwereappointedourauditorforthispastfinancialyear.Theunqualifiedauditedfinancialstatementsareincludedinthisannualreport.

JeffHartTreasurer


ATTACHMENTA–FINANCIALSTATEMENTS

CanberraRowingClubInc

FinancialReportfortheYearEnded30April2018YourcommitteememberssubmitthefinancialreportofCanberraRowingClubIncforthefinancialyearended30April2018.

CommitteeMembers

Thenamesofcommitteemembersthroughouttheyearandatthedateofthisreportare:

GeoffreyBrown–President DarrellNinham–VicePresidentPeterBrooks–Secretary JeffHart–TreasurerTomTrobe–ClubCaptain PatDavoren–ClubVice-CaptainandPublicOfficerKatherineTagg NeridaCarterTimothyHodge

PrincipalActivities

Theprincipalactivitiesoftheassociationduringthefinancialyearweretoproviderowingfacilitiestomembersoftheassociation.

SignificantChanges

Nosignificantchangeinthenatureoftheseactivitiesoccurredduringtheyear.

OperatingResult

Thesurplusafterprovidingforincometaxamountedto$45,146.01

Signedinaccordancewitharesolutionofthemembersofthecommittee.

JeffHart-Treasurer

GeoffreyBrown–President Datedthis29thdayofJuly2018

Canberra Rowing Club Inc

ABN 12 764 656 803

Financial Statements

For the year ended 30 April 2018

Christine Reid & Nikki George Pty Limited20A Beltana Road

Pialligo ACT 2609

Phone: 02 6230 1211 Fax: 02 6101 9982

Email: [email protected]


ABN 12 764 656 803

Contents

Income and Expenditure Statement

Detailed Balance Sheet

Notes to the Financial Statements

Depreciation Schedule

Independent Auditor's Report to the Members


ABN 12 764 656 803



2018 2017

$ $

Income

Membership Subscriptions 102,350.51 120,749.53

Membership Nomination Fees 1,430.00 410.00

Rack fees 5,494.53 3,791.13

Regatta Fees 20,275.49 40,409.14

Keys deposit 72.72

Corporate Rowing Program 3,636.39 12,616.60

Fundraising 6,559.01 5,959.73

Social Functions 5,932.65 6,545.60

Tuition - Programmes 2,333.63 1,643.65

Grants - ASF Project 206250 14,163.39 17,946.31

Insurance - non-CRC Boats 9,224.88 8,555.46

Interest received 10,961.52 2,894.32

Other income 1,002.74

Profit on sale of property, plant, equip 1,398.71

Sales 36.36

Total income 183,364.74 223,029.26

The accompanying notes form part of these financial statements.


ABN 12 764 656 803



2018 2017

$ $

Expenses

Accounts Receivable Adjustments 4,467.29

ACTRA Regos & Affiliation 20,195.46 3,909.09

Admin - Bank Fees And Charges 530.00 1,226.49

Admin - General Expenses 6,644.56 6,112.28

Admin - Printing & Stationery 120.50 499.09

Depreciation - plant 23,477.00 25,154.00

Electricity 1,955.17 2,198.52

Fines 3,000.00

Insurance - Club 6,633.10 7,772.04

Insurance - non-CRC boats 12,611.21 3,927.11

Interest - Australia 1,239.76 2.03

Motorboats - Fuel & oil 1,188.20 952.13

Boats - Rego/Insurance 509.34 379.40

Rates & land taxes 5,377.98 3,786.74

Regattas - Seat Fees 21,756.56 24,772.91

Regattas - Other costs 8,356.97 18,057.88

Repairs & maintenance - boats 10,805.37 15,593.71

Repairs & Maintenance - shed 1,505.86 5,409.32

Social Functions 6,197.11 6,639.03

Water & Sewerage 1,647.29 2,168.70

Total expenses 138,218.73 128,560.47

Profit from ordinary activities before income tax 45,146.01 94,468.79

Income tax revenue relating to ordinary activities

Profit from ordinary activities after income tax 45,146.01 94,468.79

Profit from extraordinary items after related income tax (60.33)

Net profit attributable to the association 45,146.01 94,408.46

Total changes in equity of the association 45,146.01 94,408.46



ABN 12 764 656 803



2018 2017

$ $

Opening retained profits 787,898.61 693,490.15

Net profit attributable to the association 45,146.01 94,408.46

Closing retained profits 833,044.62 787,898.61

The accompanying notes form part of these financial statements.The accompanying notes form part of these financial statements.


ABN 12 764 656 803

Detailed Balance Sheet as at 30 April 2018

Note 2018 2017

$ $

Current Assets

Cash Assets

Westpac Cheq account 15,576.54 68,964.47

Westpac IBA Account 26,247.66 0.06

Westpac - Debit Card 747.46 422.99

Capital Account 7,760.90 0.38

Term Deposit 409,405.74 342,934.49

459,738.30 412,322.39

Receivables

Trade debtors 2,479.00 5,163.02

2,479.00 5,163.02

Current Tax Assets

Taxation 190.00 190.00

190.00 190.00



ABN 12 764 656 803


Note 2018 2017

$ $

Other

Prepayments 4,865.05 5,865.91

4,865.05 5,865.91

Total Current Assets 467,272.35 423,541.32

Non-Current Assets


ABN 12 764 656 803


Note 2018 2017

$ $

Other

Prepayments 4,865.05 5,865.91

4,865.05 5,865.91

Total Current Assets 467,272.35 423,541.32

Non-Current Assets

Inventories

Capital Works in progress 17,696.59 5,462.50

17,696.59 5,462.50

Property, Plant and Equipment

Plant & equipment - at cost 632,596.84 631,542.57

Less: Accumulated depreciation (317,957.57) (294,480.57)

Boatshed 280,356.00 280,000.00

594,995.27 617,062.00

Total Non-Current Assets 612,691.86 622,524.50



ABN 12 764 656 803


Note 2018 2017

$ $

Total Assets 1,079,964.21 1,046,065.82

Current Liabilities

Payables

Secured:

Collection Account 40.00 40.00


ABN 12 764 656 803


Note 2018 2017

$ $

Total Assets 1,079,964.21 1,046,065.82

Current Liabilities

Payables

Secured:

Collection Account 40.00 40.00

Refundable Key Deposit 1,260.00 1,220.00

1,300.00 1,260.00

Financial Liabilities

Unsecured:

St George Account 56.43

56.43

Current Tax Liabilities

GST clearing 3,271.59 14,502.78

3,271.59 14,502.78



ABN 12 764 656 803


Note 2018 2017

$ $

Total Current Liabilities 4,571.59 15,819.21

Total Liabilities 4,571.59 15,819.21

Net Assets 1,075,392.62 1,030,246.61


ABN 12 764 656 803


Note 2018 2017

$ $

Total Current Liabilities 4,571.59 15,819.21

Total Liabilities 4,571.59 15,819.21

Net Assets 1,075,392.62 1,030,246.61

Members' Funds

Reserves

Assets revaluation reserve 242,348.00 242,348.00

Accumulated surplus (deficit) 833,044.62 787,898.61

Total Members' Funds 1,075,392.62 1,030,246.61

The accompanying notes form part of these financial statements.The accompanying notes form part of these financial statements.


ABN 12 764 656 803



Note 1: Summary of Significant Accounting Policies

This financial report is a special purpose financial report prepared in order to satisfy the financialreporting requirements of the Associations Incorporations Act of the Australian Capital Territory. Thecommittee has determined that the association is not a reporting entity.

The financial report has been prepared on an accruals basis and is based on historical costs and doesnot take into account changing money values or, except where specifically stated, current valuationsof non-current assets.

The following significant accounting policies, which are consistent with the previous period unlessotherwise stated, have been adopted in the preparation of this financial report.


ABN 12 764 656 803



Note 1: Summary of Significant Accounting Policies

This financial report is a special purpose financial report prepared in order to satisfy the financialreporting requirements of the Associations Incorporations Act of the Australian Capital Territory. Thecommittee has determined that the association is not a reporting entity.

The financial report has been prepared on an accruals basis and is based on historical costs and doesnot take into account changing money values or, except where specifically stated, current valuationsof non-current assets.

The following significant accounting policies, which are consistent with the previous period unlessotherwise stated, have been adopted in the preparation of this financial report.

(a) Income Tax

The Association is a non profit organisation established for the tax exempt status of the promotion of a sport . The association is not subject to income tax.

(b) Property, Plant and Equipment (PPE)

Leasehold improvements and office equipment are carried at cost less, where applicable, any accumulated depreciation.

The depreciable amount of all PPE is depreciated over the useful lives of the assets to the association commencing from the time the asset is held ready for use.

Leasehold improvements are amortised over the shorter of either the unexpired period of the lease or the estimated useful lives of the improvements.

(c) Impairment of Assets

At the end of each reporting period, the entity reviews the carrying values of its tangible and intangible 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.

(d) Provisions

Provisions are recognised when the association has a legal or constructive obligation, as a result of past events, for which it is probable that an outflow of economic benefits will result and that outflow can be reasonably measured. Provisions are measured at the best estimate of the amounts required to settle the obligation at the end of the reporting period.

(e) Cash and Cash Equivalents

Cash and cash equivalents include cash on hand, deposits held at call with banks, and other short-term highly liquid investments with original maturities of three months or less.


ABN 12 764 656 803



(f) Revenue and Other Income

Revenue is measured at the fair value of the consideration received or receivable after taking into account any trade discounts and volume rebates allowed. For this purpose, deferred consideration is not discounted to present values when recognising revenue.

Interest revenue is recognised using the effective interest rate method, which for floating rate financial assets is the rate inherent in the instrument. Dividend revenue is recognised when the right to receive a dividend has been established.

Grant and donation income is recognised when the entity obtains control over the funds, which is generally at the time of receipt.

All revenue is stated net of the amount of goods and services tax (GST).

(g) 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 Tax 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 assets and liabilities statement are shown inclusive of GST.

(h) Trade and Other Payables

Trade and other payables represent the liability outstanding at the end of the reporting period for goods and services received by the association during the reporting period, which remain unpaid. The balance is recognised as a current liability with the amounts normally paid within 30 days of recognition of the liability.


ABN 12 764 656 803

Depreciation Schedule for the year ended 30 April, 2018

DISPOSAL ADDITION DEPRECIATION PROFIT LOSS

Total Priv OWDV Date Consid Date Cost Value T Rate Deprec Priv CWDV Upto + Above Total - Priv

Plant and EquipmentRowing Boat 0.00 0 0.00 224,603 0 0 224,603 D 6.66 14,959 0 209,644 0 0 0 0

Oars 0.00 0 0.00 26,816 0 0 26,816 D 6.66 1,786 0 25,030 0 0 0 0

Other equipment 0.00 0 0.00 20,842 0 0 20,842 D 10.00 2,084 0 18,758 0 0 0 0

additions boats 2014 30,192.00 20/12/13 30,192 0.00 23,966 0 0 23,966 D 6.66 1,596 0 22,370 0 0 0 0

additions oars 2014 2,270.00 12/05/13 2,270 0.00 1,727 0 0 1,727 D 6.66 115 0 1,612 0 0 0 0

additions oars 2014 2,508.00 06/11/13 2,508 0.00 1,973 0 0 1,973 D 6.66 131 0 1,842 0 0 0 0

additions outboard

motor

3,000.00 05/06/13 3,000 0.00 1,989 0 0 1,989 D 10.00 199 0 1,790 0 0 0 0

additions 2014 - quintex

hull

2,582.00 22/07/13 2,582 0.00 1,737 0 0 1,737 D 10.00 174 0 1,563 0 0 0 0

Honor Board 0.00 0 0.00 500 0 0 500 D 0.00 0 0 500 0 0 0 0

2015 purchase - Row

Boat "Scheller"

4,000.00 07/07/14 4,000 0.00 3,295 0 0 3,295 D 6.66 219 0 3,076 0 0 0 0

2015 purchase Row

Boat CRC 80 initiator

4,020.00 18/12/14 4,020 0.00 3,417 0 0 3,417 D 6.66 228 0 3,189 0 0 0 0

2015 purchase Row

Boat CRC Barnier

5,800.00 30/05/14 5,800 0.00 4,743 0 0 4,743 D 6.66 316 0 4,427 0 0 0 0

Other Equipment

Trailer T94063B

7,000.00 12/02/15 7,000 0.00 5,549 0 0 5,549 D 10.00 555 0 4,994 0 0 0 0

addition oars 2015 400.00 07/07/14 400 0.00 329 0 0 329 D 6.66 22 0 307 0 0 0 0

additions other equip

2015

910.00 29/08/14 910 0.00 688 0 0 688 D 10.00 69 0 619 0 0 0 0

CRC - Balmaks 4,545.00 16/10/15 4,545 0.00 4,089 0 0 4,089 D 6.66 272 0 3,817 0 0 0 0

CRC - Initiator 2 0.04 07/01/16 0 0.00 3,731 0 0 3,731 D 6.66 248 0 3,483 0 0 0 0

Crokers - Damo

Donation

1,550.00 15/04/16 1,550 0.00 1,442 0 0 1,442 D 6.66 96 0 1,346 0 0 0 0

Boat Hubert 2,000.00 09/09/16 2,000 0.00 1,915 0 0 1,915 D 6.66 128 0 1,787 0 0 0 0

Craig Jones Oars 2,000.00 06/05/16 2,000 0.00 1,869 0 0 1,869 D 6.66 124 0 1,745 0 0 0 0

Majura Oars 1,716.00 18/07/16 1,716 0.00 1,626 0 0 1,626 D 6.66 108 0 1,518 0 0 0 0

Megaphone x 2

(TOAER1215)

227.27 03/11/16 227 0.00 216 0 0 216 D 10.00 22 0 194 0 0 0 0

Oars - Sweep Radford 291.00 19/06/17 291 0.00 0 0 19/06/17 291 291 D 6.66 17 0 274 0 0 0 0

Oars - Ian Esplin 763.00 26/02/18 763 0.00 0 0 26/02/18 763 763 D 6.66 9 0 754 0 0 0 0



ABN 12 764 656 803




75,774 337,062 0 1,054 338,116 23,477 0 314,639

Deduct Private Portion 0

Net Depreciation 23,477


ABN 12 764 656 803




75,774 337,062 0 1,054 338,116 23,477 0 314,639


Net Depreciation 23,477



ABN 12 764 656 803




BuildingsBoatshed 0.00 0 0.00 280,000 0 0 280,000 D 0.00 0 0 280,000 0 0 0 0

Defib Parts 356.00 28/11/17 356 0.00 0 0 28/11/17 356 356 D 0.00 0 0 356 0 0 0 0

356 280,000 0 356 280,356 0 0 280,356


Net Depreciation 0


ABN 12 764 656 803




BuildingsBoatshed 0.00 0 0.00 280,000 0 0 280,000 D 0.00 0 0 280,000 0 0 0 0

Defib Parts 356.00 28/11/17 356 0.00 0 0 28/11/17 356 356 D 0.00 0 0 356 0 0 0 0

356 280,000 0 356 280,356 0 0 280,356


Net Depreciation 0



ABN 12 764 656 803


Report on the Audit of the Financial Report

Opinion

We have audited the financial report of Canberra Rowing Club Inc (the association), whichcomprises the Statement by Members of the Committee, Income and Expenditure Statement,Balance Sheet as at 30 April 2018, a summary of significant accounting policies and thecertification by members of the committee on the annual statements giving a true and fair view ofthe financial position and performance of the association.

In our opinion, the accompanying financial report presents fairly, in all material respects, thefinancial position of the association as at 30 April 2018 and [of] its financial performance for theyear then ended in accordance with the accounting policies described in Note 1 to the financialstatements and the requirements of the Associations Incorporation Act 1991.


ABN 12 764 656 803


Report on the Audit of the Financial Report

Opinion

We have audited the financial report of Canberra Rowing Club Inc (the association), whichcomprises the Statement by Members of the Committee, Income and Expenditure Statement,Balance Sheet as at 30 April 2018, a summary of significant accounting policies and thecertification by members of the committee on the annual statements giving a true and fair view ofthe financial position and performance of the association.

In our opinion, the accompanying financial report presents fairly, in all material respects, thefinancial position of the association as at 30 April 2018 and [of] its financial performance for theyear then ended in accordance with the accounting policies described in Note 1 to the financialstatements and the requirements of the Associations Incorporation Act 1991.

Basis for Opinion

We conducted our audit in accordance with Australian Auditing Standards. Our responsibilitiesunder those standards are further described in the Auditor’s Responsibilities for the Audit of theFinancial Report section of our report. We are independent of the association in accordance withthe ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110Code of Ethics for Professional Accountants (the Code) that are relevant to our audit of thefinancial report in Australia. We have also fulfilled our ethical responsibilities in accordance withthe Code.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide abasis for our opinion.

Emphasis of Matter – Basis of Accounting

We draw attention to Note 1 to the financial report, which describes the basis of accounting. Thefinancial report has been prepared to assist the association to meet the requirements ofAssociations Incorporation Act 1991. As a result, the financial report may not be suitable foranother purpose. Our opinion is not modified in respect of this matter.

Responsibilities of the Committee for the Financial Report

The committee is responsible for the preparation and fair presentation of the financial report inaccordance with the financial reporting requirements of the Associations Incorporation Act 1991and for such internal control as the committee determines is necessary to enable the preparationand fair presentation of a financial report that is free from material misstatement, whether due tofraud or error.

In preparing the financial report, the committee is responsible for assessing the association’s abilityto continue as a going concern, disclosing, as applicable, matters related to going concern and usingthe going concern basis of accounting unless the committee either intends to liquidate theassociation or to cease operations, or has no realistic alternative but to do so.


ABN 12 764 656 803


Auditor’s Responsibilities for the Audit of the Financial Report

Our objectives are to obtain reasonable assurance about whether the financial report as a whole isfree from material misstatement, whether due to fraud or error, and to issue an auditor’s reportthat includes our opinion. Reasonable assurance is a high level of assurance, but is not a guaranteethat an audit conducted in accordance with the Australian Auditing Standards will always detect amaterial misstatement when it exists. Misstatements can arise from fraud or error and areconsidered material if, individually or in the aggregate, they could reasonably be expected toinfluence the economic decisions of users taken on the basis of this financial report.

As part of an audit in accordance with Australian Auditing Standards, we exercise professionaljudgement and maintain professional scepticism throughout the audit. We also:

- Identify and assess the risks of material misstatement of the financial report, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the association’s internal control.

- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the committee.

- Conclude on the appropriateness of the committee’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the association’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial report or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the association to cease to continue as a going concern.

- Evaluate the overall presentation, structure and content of the financial report, including the disclosures, and whether the financial report represents the underlying transactions and events in a manner that achieves fair presentation.

We communicate with the committee regarding, among other matters, the planned scope andtiming of the audit and significant audit findings, including any significant deficiencies in internalcontrol that we identify during our audit.

Signed on :

___________________________________________________

Christine Reid, FIPA

Christine Reid and Nikki George Pty Limited

20A Beltana Road Pialligo ACT 2609

18 th July 2018


ATTACHMENTB–VARIATIONEXPLAINATIONS

ThevariationnotesaretobereadinconjunctionwiththeCanberraRowingClubInc.FinancialStatementsfortheyearended30April2018.Thefollowingexplanationsaretheprimarydriversofthevariations.

IncomeandExpenditureStatementIncomeMembershipSubs: ReductioninnumbersfortheMaristCollegeRowingProgram,wherejunior rowerswerebasedoutofLakeTuggeranongRowingClub.

RackFees: Collectionoffinal2016-17RackfeesinthisFinancialYear,

RegattaFees:

CorporateRowing:SmallerProgramofSoldierOnandOne(partial)LearntoRowBoat.

InterestReceived: ChangeoftermsforTermDepositInterest.

OtherIncome: HireofEquipmentforSydneyGrammarRowingCamp.

ExpensesAccountsRec: Correctionof2017FairfaxRunandhistoricbalancesfrom2012-2014

ACTRARego: The2017RACTRegistrationwasinvoicedon30April2017andpaidthisFY.

Bankfees: ClosureoftheredundantStGeorgeBankingandMerchantfacilities.

Fines: Late-SubmissionofBusinessActivityStatement

InsuranceClub: PolicychangetoAONInsuranceinlinewithRowingAustralia’sSponsorship

Insurancenon-CRC: CostsassociatedwithInsuranceclaimsTrailerincidentwithACTASandBoats.

Rates&LandTax: UpdateoftheCrownLeasefortheclubsiteatYarralumla

RegattaSeatFees:TimingofpaymentsreceivedforNSWM&AMRC,notingthattheseevents traditionallycrossovertheendoffinancialyear.

RegattaOther: ReducedtraveltoNSWregattasMen’s&Women’sSquadsandtoAMRC,TAS.

R&M-Boats: MajorrepairstotheCRCclubtinniesin2016-17

R&M-Shed: MajorrepairstotheCRCtrailerin2016-17


DetailedBalanceSheetCurrentAssetsTradeDebtors: AccountReceivableInvoiceforAustralianRunningFestivalinApril2018

Prepayments: PrepaymentofPrivateboatinsurancetobeclaimedfromMembers

NonCurrentAssetsCapitalWIP: 2017-18Workincluded–Design&StructuralEngineering,FireCompliance.


ATTACHMENTC–LISTOFMEMBERSasat30April2018

ASSOCIATEMEMBERSAshCarrJohnPrestonSuzanneGoddardTaylorCaudleASSOCIATEELITEMEMBERSAlexMoylanTomPerryCOXMEMBERSMargieThomsonNiaStamatisRebeccaMcCallumRobertaLiddellLIFEMEMBERS-HONORARYAlisonChinnBrendonProutEdwinBienJohnMcKennaJohnSimsonLeonBowerMarkKwiatkowskiPatDavorenRandalLawrenceRonHibbersonSueDonoghoeLIFEMEMBERS-PAIDAlisonCreaghDavidButtDavidColesJohnJones

LIFEMEMBERS–PAID(cont)LynnCirulisPaulPhillipaPeterStolzRobNewellSENIORMEMBERSAdairFergusonAlanButoracAlexHodgesAlisonHerbertAmandaBrienAmyMcLennanAndrewFreerAnitaPreinerAnnHewittAnneBicknallAnneChartonAnneLathamAnneNicolyAnneRaimondoBelindaBeaumanBernieLodwickBeverlyClarkeBradSpielBrentRyanBrianHewittCameronColquhounCameronO’neillChrisPolyichaninChrisRaymondChristineBrownDarrellNinhamDavidBoughton

SENIORMEMBERS(cont)DavidColledgeDebbieBurkevicsDebbieCookDeniseVanDijkDennisDyerDermotBalaamElaineBissakerEmmaSouthcottEstherHarveyFelicityAntillFionaBlackwellFionaMartinGaiDennettGailDavisGeoffBrownGeoffGarrettGillianColledgeGlenIrvineGrahamHumphriesGudrunBilonohaHeatherSneddenHelmutBilonohaHennieArupHiltonTaylorIreneBrewerJackieNeilsenJacquelineWilkinsonJaneRussellJonesJanetFarnanJaniceJagoJannyCorryJeffHartJennyBarbourJennyHarber


SENIORMEMBERS(cont)JillSmallJohnBlackwellJohnDaleyJohnEyresJohnSouthwellJohnStrappsJudithDahlTaylorJudyRaymondJudyWalshJulianneCampbellJulieReisKarenMcVickerKarenLaffenKateLundyKatherineFinlayKatherineHodgesKatherineTaggKatherineWellmanKathleenWorboysKatjaBierKerrieSmythKerryCollinsKerryEllisKerryKnowlerKirstenLivermoreKristineReedKymFisherLyndellWilsonMartinLittleMattCusackMaxineJamesMichaelColledgeMichaelCusackMichaelDennettMichaelPeedomMikeBodyNarelleConnor

SENIORMEMBERS(cont)NeridaCarterNickLatimerNicolasBarnierPeterBrooksPeterChiversPeterJonesPeterLaidlawPeterWilsonPhilipLansdownPhillipeLorrainPipHentyPriscillaWadhamRebeccaSimpsonReneeJoyceRickMartinRobinPokeRohanGreenlandSallyClearSandraSweeneySaraWightmanSarahBourkeSarahTaylorSarahTynanScottPaganSebastianLangSelinaRowlandSharonMackayStephenAhernSusanLinacreSuzanneWearneSuzyRogashoffTimHodgeTomHayesTomTrobeTonyWilkesValarieHushWarnerHieatt

STUDENT/JUNIORMEMBERSAaronKearnsAlexPenn-TurrallCalebAmentCamilleCherbiuinCatherineKhanCormacHayesDamienCusackDavidConnollyEdwardSwannEllenNewtonEmilyCarrollEthanHarrisEthanHartFinlayScottFynnanBrownlieGriffynDavisHarrisonLodwickHarryRobinsonHenryBridgewaterHilbertVanPeltJackBarkerJamesOrrJamesStuchberyJoshMartinJoshuaGreenKieranMayLachlanMcNamaraLiamZammitLorenParsonsMatthewBirchMaxLesterMaxRosinNelsonDunphyNoahBridgerRileyHancockRohanPalisi


STUDENT/JUNIORMEMBERS(cont)RoryScottSamAlicaSeanBulleySebastianQuirkSunnyBridgerThomasChipmanTomHarrisWilliamScholtenZacharyWicksCORPORATECREWSDefenseVeteransLearntoRowVISITINGMEMBERSDaleGazzardMichaelBurgess

2017-18Associate:Associate(Elite):Coxswain:Life(Hon):Life(Paid):Senior:Student/Junior:BeginnersSenior:VisitingTOTAL:

424

118

13545162

2272016-17Associate:Associate(Elite):Coxswain:Life(Hon):Life(Paid):Senior:Student/Junior:BeginnersSenior:VisitingTOTAL:

559

118

13175403

287


ATTACHMENTD–LISTOFCRCBOATSasat30April2018CRC65 1x Tachycardia 4-CRC70 1x AlisonChinn 4-CRC70B 1x Fleuro 4x/-CRCI-70 1x JohnMcKenna 4x/-CRCI-80 1x KerryKnowler 4x/-CRC75 1x MeganStill 4x/-CRC75B 1x SueDonoghoe 4x/-CRC75C 1x JohnSimson 4x/-CRC80B 1x NickMacdonald-Crowley 4x/+CRC85A 1x DavidColes 4x/+CRC90A 1x JamesGalloway 8+CRC90B 1x RegLibbis 8+CRC90C 1x LakeBurleyGriffin 8+CRC90D 1x CraigJones 8+CRC95A 1x SarahCook 8+CRC95B 1x PaulThompson 8+Balmacks 1x BillO'Brien 8+Barnie 1x Motorboat1 MBSchneller 1x Motorboat2 MBHubert 1x Motorboat3 MBWahoo 2x Motorboat4 MBTidbinbilla 2x Motorboat5 MBOrana 2x Outboard#1 OBBoboyan 2x/- Outboard#2 OBBruceHick 2x/- Outboard#3 OBCorin 2x/- Outboard#4 OBGoogong 2x/- Outboard#6 OBUriarra 2x/- Gingera 2x/- Molonglo 2x/- PiccadillyCircus 2x/- Stromlo 2x/- Acacia 2x/- Majura 2x/-

2018 annual report canberra rowing club inc. · presentation of the 2017-18 annual report (for...

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