Board update to AGM 07/10/2012
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Transcript of Board update to AGM 07/10/2012
Board update to AGM 07/10/2012
Agenda
• The Year in Review and reflection on the last 6years– Highlights of 2012– Year End Financials– Individual Account Performance– Key Performance Indicators
• Present a roadmap for going forward• Update members of 2012 / 2013 sailing activities
– Sailing School– Junior Sailing– Open Sailing– 16 Ft Sailing
• Open forum – Q&A– Suggestion / Ideas– Volunteering
Achievements for last 12 months– Relocated Snooker Room – Relocated Poker Machines– Build New Poker Machine room– Water proofed external poker machine room and rearranged – Launched website– Streamlined promotions– Rationalised staffing & published a new Roles & Responsibilities– Applied for compensations ex Warrens Saunders and received– Cleaned up the club – made it more welcoming– Working on PKF exit– Upgraded gaming machines– Sponsorship for sailing– Streamline accounting – creditors, debtors and payment– Stocktake rationalisation– Cellar re-arrangement to reduce costs of running
INCOME Bar Sales 1,533,500 1,514,911 1,529,027 1,425,148 1,267,302 1,195,427 1,126,780 Gaming Machines 1,175,000 1,153,851 1,393,673 1,339,374 1,169,881 1,567,905 2,089,018 Rent Catering 216,948 200,896 126,627 203,125 159,091 64,943 169,091 Keno Bingo & Raffle 191,305 192,003 217,640 190,274 193,233 211,494 66,580 Membership Subscriptions 44,250 30,932 47,062 22,825 50,235 35,747 23,911 Functions 80,700 53,040 69,252 45,605 33,398 31,269 42,809 Other 99,130 95,985 86,898 105,205 122,707 144,177 100,711
UNUSUAL INCOME Net Gain on Sale Of Property and Equipment 16,364 36,302 Net Gain on Sale Of Poker Machine Entitlements 93,484 249,000 Insurance Claim Proceeds 87,177
NET LOSS AS PUBLISHED 266,511- 201,515- 430,455- (432,786) (88,912) (595,025) (120,344) Add Back : Unusual Items Net Gain on Sale Of Property and Equipment 16,364- (36,302) Net Gain on Sale Of Poker machine Entitlements 93,484- (249,000) Write off DA Costs - Premier Building 87,658 Insurance Claim Proceeds 87,177- Non Cash Item - Depreciation 390,511 390,511 399,949 366,099 323,904 366,577 347,709
NET PROFIT /(LOSS) ON TRADING 124,000 8,335 46,870- 20,971 (50,310) (228,448) 227,365
Bar - Gross Profit % 58.50% 56.09% 54.73% 58.28% 56.29% 49.14% 51.33%
Wages and Salaries - % of total revenue 29.00% 33.79% 35.93% 36.81% 29.17% 29.83% 26.96%
30/06/2007
GEORGES RIVER 16ft SAILING CLUB CO-OP LIMITED RESULTS SUMMARY
Y/E Y/E Y/E Y/E
KEY PERFORMANCE INDICATORS
Y/E30/06/2011
Y/E30/06/2012
BUDGET30/06/2013 30/06/2010 30/06/2009 30/06/2008
Georges River 16ft Sailing Club – Y/E 30/06/2012
Georges River 16ft Sailing Club – Key Performance Indicators
Georges River 16ft Sailing Club – Key Performance Indicators
Georges River 16ft Sailing Club – Budget 2012/ 2013
Georges River 16ft Sailing Club – Y/E 30/06/2011
Georges River 16ft Sailing Club – Y/E 30/06/2010
Georges River 16ft Sailing Club – Y/E 30/06/2009
Georges River 16ft Sailing Club – Y/E 30/06/2008
Georges River 16ft Sailing Club – Y/E 30/06/2007
Georges River Sailing Club - P&L Statement 06/12 - 08/12
July August Total July August TotalINCOME COST OF SALESSales - Main Bar Beverage 93,967 99,487 193,454 COS - Main Bar Beverage 35,455 37,798 73,253 Cafe 7,401 7,576 14,977 COS Main Bar Food 2,260 2,871 5,131
Bingo Income 2,094 1,714 3,808 Wages - Main Bar 7,240 6,678 13,919
Raffle income 6,445 6,735 13,181 Compli'try Beverage - Main Bar 1,343 1,650 2,993
Sales Merchandise 69 - 69 COGS - Bingo 4,945 3,150 8,095
Sales - Functions Beverage 10,558 10,556 21,114 Wages - Bingo 651 392 1,043
Sales Funct Bev Extra Income - 610 610 COGS - Raffles 8,398 12,402 20,800
Function Room Hire 4,186 3,550 7,736 Cost of Sales - Functions (270) 224 (46)
KENO Commissions 3,395 3,745 7,140 COS - Function Beverage 3,698 4,043 7,742 TAB Commissions 3,865 2,855 6,720 Discount Function Extras - 70 70 Net Gaming Revenue 74,915 103,054 177,969 Wages - KENO 3,560 3,560 7,120 Membership Full Subscriptions 540 928 1,468 Cost of Sales - TAB - 50 50 Amusement Machines 286 204 490 Wages - TAB 3,560 3,560 7,120 Bus Fares 649 693 1,343 Wages - Gaming 3,560 3,560 7,120 Commissions - Cigarettes 155 336 490 Promotions - Gaming 856 927 1,783 Commissions - Other 398 491 889 Gaming Machine Tax 7,533 5,000 12,533 Commissions - Food 1,345 909 2,255 DMS Monitoring 2,356 2,424 4,780 Interest Received 95 - 95 Total COST OF SALES 85,147 88,359 173,506 Pool Tables - 82 82 Gross Profit 149,677 171,854 321,531 Rebates 3,481 - 3,481 Rent Received - Restaurant 16,418 13,135 29,553 Rent Received KTB (Cafe) 4,441 3,553 7,993 Telephones 27 - 27 Vending Machines 93 - 93 Total INCOME 234,823 260,213 495,037
GRSCProfit & Loss StatementJuly 2012 through August 2012
July August Total July August TotalEXPENSES R & M - Air Con/Exhaust - 873 873 Administration 1,000 - 1,000 R & M - Furniture & Fittings 272 34 306 Advertising & Promo General 4,703 2,973 7,676 R & M - KENO 875 871 1,746
Loyalty Coffees 66 105 171 R & M - Kitchen 1,058 1,050 2,108
Audit Expenses 1,250 1,250 2,500 R & M - Plant & Equipment 818 1,234 2,052
Bank Charges 1,563 1,427 2,990 R & M - Video Gaming Machines 1,540 2,056 3,596
Bet Busters 120 30 150 Security 211 - 211
Cash Pickup 381 527 908 Software & Support 1,298 3,027 4,325
Cash Discrepancies (297) (46) (343) Staff Drinks 274 274 548
Cleaning 4,728 3,988 8,716 Subscriptions 4,672 4,672 9,344 Cleaning Materials 197 84 281 Telephones 1,781 3,079 4,860 Christmas Party - 336 336 Trade Waste 1,547 1,396 2,943 Depreciation 33,513 33,513 67,026 Payroll Tax (2,309) 1,396 (913) Directors Expenses 12 230 242 Staff Training - 1,459 1,459 Management Expenses 109 24 133 Superannuation 6,557 4,755 11,312 Electricity 12,202 12,142 24,344 Wastage 815 573 1,388 Entertaining of Patrons 3,909 11,834 15,743 Wages - Administration 5,026 5,020 10,046 Flowers / Decorations 126 845 972 Wages - Bus Driver 5,475 4,717 10,192 Freight / Courier - 14 14 Function Cordinator 1,293 578 1,871 Gas 3,079 3,210 6,290 Chief Executive Officer 9,825 7,574 17,399 Healthcare Products - General 788 841 1,628 Wages - Maintenance 278 56 333 Bar Amenities 45 - 45 Wages - Management 2,214 4,433 6,647 Hire of Plant & Equipment 846 1,465 2,311 Wages - Reception 7,662 7,247 14,910 Insurance - General 5,330 5,330 10,660 Wages- Supervisor 8,632 7,162 15,794 Interest General 310 - 310 Wages-Dining Room Stewart 2,725 3,167 5,892 Interest NAB Equipment Loan 564 564 1,128 Workers Compensation 6,639 3,653 10,292 Poker 5,399 - 5,399 Function Bar Steward 2,569 1,627 4,196 Prize Money 1,455 1,309 2,764 165,186 171,054 336,240 Motor Vehicle Expenses 796 2,117 2,913 Operating Profit (15,510) 800 (14,710) Permits & Licences 47 47 93 Snooker 203 130 333 Pest Control 291 291 582 Mooring Licence 58 58 117 Postage Printing & Stationery 4,888 7,530 12,418 Sailing - Boat Depreciation 400 400 801 Rates - Council 518 1,592 2,110 Net Profit/(Loss) (16,172) 211 (15,961) Rent 5,042 5,042 10,085 Depreciation 33,513 33,513 67,026 CDSE Catergory 1 390 390 780 17,341 33,724 51,065
Repairs & Maintenance 67 67 134
Georges River 16ft Sailing Club – Income for July 2012
Georges River 16ft Sailing Club – Income for August 2012
Georges River 16ft Sailing Club – Cost of Sales for July 2012
Georges River 16ft Sailing Club – Cost of Sales for August 2012
Georges River 16ft Sailing Club – Wage Expenses for July 2012
Georges River 16ft Sailing Club – Wage Expenses for August 2012
Sailing UpdateInitiative
• Sailing School• Regattas• YA Fees• Volunteers wanted• Upgraded Club lasers and
Sabots for season 2012/2013
• Envy status
Costs / Success factor
• 8 new boats
Club OfferingsInterior and Exterior DesignComplete current projectsInternal signageExterior presentation.Cafe LocationSeparation of spaceFunctionAvailability of small roomsIncreasing weekday useRestaurant as a destination especially on weekdays
Advertising
• Google ad words
Member Communication
SMS
2013 Roadmap 1/2
HOW
WHERE
CLUB PROFILE
The club was formed in 1927 racing 16ft Skiffs Present clubhouse built in 1964.We also offer numerous facilities for members and guests
•Bar•Cafe •Coffee Shop•Dinning and Bistro•Functions•Gamming
Current Turnover $3.3m;Supports the following activities
SailingFishingGolfSnooker
Current customers include: Members (5,000 +)VisitorsFunction and Conference Centre clients
Major competitors include:
Local ClubsHotels
TWO PAGE MARKETING
PLAN
VISION
GRSC is a vibrant club which is passionately supported by its members and the community. The club will support its social members by constantly upgrading its facilities whilst encouraging sailing at all levels.
BUSINESS STATEMENT
GRSC offers high quality facilities for members and guests.
SUSTAINABLE COMPETITIVE ADVANTAGEMembers
AtmosphereFacilitiesRelationship
VisitorsFood ViewSpecial events
VALUES / CULTUREFriendlyEmbrace changeExtreme ServiceRelaxed atmosphereCompetitive prices
NOW
2013 Roadmap 2/2CRITICAL ISSUES 2012 – 2007 PLAN: STRETCH TARGETS
1. Club Offerings 2. Advertising
1.1
1.2
1.3
1.4
Interior and Exterior DesignComplete current projectsInternal signageExterior presentation.
Cafe LocationSeparation of space
FunctionAvailability of small roomsIncreasing weekday useRestaurant as a destination especially on weekdays
2.1
2.2
2.3
2.4
2.5
Promotion of Functions forWeddings/PartiesCorporate
Membership drives
Visitors driveBus groupsPassing trade
Website
Special/Themed events e.g. Sporting, cultural and family
3. Membership 4.Member
Communication3.1
3.2
3.3
Membership Pricing
Ease of joining at desk
Membership drives
4.1
4.2
Website
New mediaSMS Email Social networks
Non Financial 2009 2010 2011
Membership 4,000 4,800 6,000
Active Members (visit at least once per month) 500 650 1,000
Visitors (number of Temporary members) 40,000 55,500 80,000
Functions per year 100 150 200
Boats sailing (average per week) 50 70 100
Interclub Membership
Fishing 30 40 60
Snooker 10 20 30
Golf 30 20 40
Poker 60 85 120
Revenue (Net $m) 2009 2010 2011 2019
Gaming 1.2 1.4 1.6 1.6
Bar 1.0 1.1 1.2 1.2
Cafe 0.2 0.3 0.5 1.0
Catering Rent 0.2 0.2 0.2 0.2
Functions 0.1 0.1 0.2 0.5
Total 2.7 3.1 3.7 4.5
BUSINESS STATEMENT AND VALUES
“GRSC offers high quality facilities for members and guests”
Values/CultureThe values/culture for GRSC has been determined as the following:•Friendly•Relaxed atmosphere•Competitive prices•Extreme Service – providing our customers with enthusiastic service above and beyond the norm•Innovation•Safety•Consistency•Commitment