Newcastle Cruising Yacht Club Limited 2018 Annual General Meeting 30th August 2018

Agenda Declaration of the election results NCYC Business Overview Our Strategic Plan/ Business achievements and future plans Our Financial Performance Sailing achievements and future plans Consideration of Director’s Report and Financial Statements 2017/ 18 year Adoption of the report Appointment of the Auditors for 2018-19 Any Questions

Declaration of the election results The following director was elected unopposed; Steve Rae - Commodore The following directors were elected by ballot: Returning Office to provide ballot result

Our vision Get Newcastle Sailing!

Our key strategies are: Sailing Strategies Future Facilities Sailing Fleets Major Events Operate Safely Club Strategies Financial Plan Communication Maritime Opportunities Talented People

Business Update We have continued to invest (more) in sailing so that we can promote our sport in the local community to make sailing more accessible, and providing more sailing opportunities for our members. We have also worked to improve the Club offering to our members and their guests.

Business Update We are negotiating with Thales to lease an area of land for lasers, to provide on-going facilities for this fleet. We are involved in discussions with NCC in the event that Newcastle is successful in it’s bid to host the Volvo Round the World teams for their Australian stopover.

Credit to you….. To our (internal) committees; social club, sailing committee, She Sails and Cruising Division ……for taking your own initiatives to take the club forward To all our members for your support, and “using and enjoying” your club

Finance Update The Marina continues to provide substantial cashflow with an average 90% monthly occupancy or better. Our new updated schedule for Berthing Fees has allowed us to correctly maintain our ageing marina and maintain our club buildings. The first of our 15 year lease berths expired this financial year. We have 30 remaining leased berths with varying expiry dates out to 2023.

Finance Update Our Clubhouse performed exceedingly well with revenue over the bar increasing by more than 18% compared to the prior year. The introduction of a contract caterer resulted in a small improvement in the Clubhouse net result. Cashflow improved this year to the extent that we were able to pay $500,000 off the loan that we had not been able to reduce the previous year.

Finance Update Corporate assets continue to be well maintained, including commercial buildings and clubhouse, the marina, and boats The Club has been refurbished and we now have a separate Trophy Room and safe access to the kitchen. We have also established the Foredeck Café, offering coffee and a licensed area to provide drinks while enjoying our beautiful marina views.

NCYC Business Overview Financial Results

Financial Performance Functional Area 2016-17 2017-18 Licenced Club (91,317) (72,216) Marina 754,825 888,570 Commercial Centre 433,078 460,934 Sailing (167,405) (188,315) Excludes depreciation

Profitability and Cash Flow   2015 2016 2017 2018 $ Net Profit 140,205 167,632 (23,066) 194,337 Add Back: Interest 97,063 73,535 67,514 56,706 Add Back: Depreciation 711,260 406,110 398,578 383,883 Add Back: Asset Write Downs 1,263 66,310 Operating Profit 949,791 713,587 443,026 634,927

Summary of Financial Position 2015 2016 2017 2018 $ Total Assets 7,651,412 7,345,917 7,033,973 6,902,153 Total Liabilities 2,971,036 2,497,909 2,209,031 1,882,874 Net Assets 4,680,376 4,848,008 4,824,942 5,019,279

NCYC Business Overview Future Plans/ challenges

Looking ahead … Focus on increasing our Membership at all levels. We will continue to maintain and grow our Club. We do have closure on our DA and will be considering the options available to us for future planning. Plans in place to refurbish our Bathroom/Laundry facilities. Considering increasing Marina capacity. Increasing the Wet Lease by seeking approvals from key stakeholders and possibly extending the marina.

NCYC Business Overview Strategic Plan Achievements in 2017 / 2018 Sailing

We will develop sailing in Newcastle by: Building participation in sailing Prioritising our investments Hosting a range of successful sailing events

Our key strategies are: Sailing Strategies NOW Future Facilities Sailing Fleets Major Events Operate Safely Club Strategies Maritime Opportuni ties Financial Plan Communi cation Talented People

Sailing this year Lasers: Keelboats NSW Country Championships 63 races Keelboats 40 races NSW Country Championships Farr 40 OD event Port Stephens Lead in Race

Sailing this year Sailing Academy Discover Sailing Lean to Sail: “Tackers” and Force 24s Youth Development Twilights “She Sails” Youth Keelboat Championships Youth Match Racing Corporate Sailing

Sailing Strategies Plan DINGHY LTS KEELBOAT LTS Tackers LTS Start Crew Start Helm Skipper Optimist Green Fleet Lasers Green Fleet Private Lessons? New Boat Owner? Optimist Club Racing Lasers Club Racing Club Racing Fleet Club Cruising Fleet Regatta Fleet Youth Perf Program Twilight Fleet

Sailing Strategies Bottom up strategy adopted People – Jacqueline Ellis & Jack Buchan Equipment Wombat, George Keegan & Paul Gleeson Race Marks, Radios, GPS receivers etc. Training SAFETY Race Officer and Race Management RRS

Sailing Strategies Increase membership participation Member’s Survey Twilights move to Friday Sailing schedule re-vamp Acquisition of 8 Elliot 6s

Our key strategies are: Sailing Strategies in Planning Future Facilities Sailing Fleets Major Events Operate Safely Club Strategies Maritime Opportuni ties Financial Plan Communi cation Talented People

Future Sailing Strategies & Events Farr 40 Regatta continues TP 52 Regatta is under negotiation for March 19 Continued focus on increasing the participation of Women in sailing Newcastle Lord Howe race shelved NCYC is in PRELIMINARY planning to stage a lead in Regatta for SPS concurrent with TP52s

Volunteers Sailing Committee / Sub Committees Social Committee Mark Layers Race Officials / Starters Handicapper Rum Runners Raffles Volunteers THANK YOU!

Consideration of the Directors Report and Financial Statements of 2017/ 18 DFK Crosbie appointed & completed 2017-18 financial year audit of statutory accounts Any questions regarding NCYC 2017-18 Statutory Accounts? Formally note acceptance of Directors Report and Financial Statement for 2017/ 18

Appointment of our Auditors NCYC’s Board recommends continuation with DFK Crosbie as auditors for the 2018-19 financial year

Any final questions or comments?

Invitation to celebrate another successful year at NCYC by moving into the Club to enjoy a drink