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President Report March 2007
My first report as President of the Club was for the 2004/5 financial year. My thoughts, at that time, went to the need for the Club to prepare the base that would enable us to live for a second 100 years. 2003 was, of course, our 100th birthday year. Little did I know of the hurdles and hiccups that we were about to face. I am pleased to report that the Club has met each of those hurdles head-on and has solved, or is in the process of solving, each of the problems. We had a sound financial base, and as Treasurer, Michael Callanan, has indicated in his report we continue to produce sound financial results and a positive cash flow. A significant portion of our reserves were used to resolve the problem with the facade and there is still work to be done in this area, but the cost of the future work will be met from trading profits.
Denis Pontin has referred to improvements that have taken place in the club house and we continue to seek ways to improve the benefits for members. We ask members to be patient as some items will have to wait until we have rebuilt our reserves. Our policy is to avoid using the overdraft facility for capital expenditure. I would like to make special mention for the Boards appreciation of the support that the members continue to provide. Two of our rival clubs have amalgamated because of their respective financial difficulties, whereas our Club is trading profitably and continues to attract new members.
Steven Thompson has made mention of an additional Services category. The name of our Club reflects our amalgamation with the Imperial Servcies Club, but the majority of our military members are as a result of that amalgamation and not any great influx of new members. The existence of the Officers mess at the Sydney Barracks may be one of the reasons we have not attracted a significant number of members, but it is the intention of the Board to continue to develop our links with the Defence Forces.
During the year, I, together with Vice- President, Lindsay Coleman and CEO, Alan Jordan attended a birthday luncheon held by Clubs NSW. During the luncheon, I learned that the Club was a foundation member of the Association along with the Tattersalls Club, City Tattersalls and the Commercial Travellers Club. The Commercial Travellers actually provided office space to Clubs NSW for a number of years free of charge and is the only life member of Clubs NSW.
There are plenty of critics who say that the future of clubs, not only in Sydney but around the world is limited. I do not believe that to be the case and that belief is reflected in the support that our Club receives from its members and the strengths of our Balance Sheet. Obviously, we need the continued support of the current members and a constant intake of new members, but that is what has been happening in the last three years and nothing on the horizon indicates that that will change in the future. We offer flexibility and a range of services which make belonging to our Club a unique experience. May it long continue!
Since my last report, Wayne Barrett has indicated that because of family reasons, he is unable to continue serving on the Board. The Board wishes Wayne success in the future and we formally acknowledge our appreciation for the work that he did while on the Board and particularly with his involvement in the Motoring Enthusiasts Club.
Before closing, I would like to record the Boards appreciation for the contribution made by Mr Alan Jordan and Mr Chris Schmidt in their respective roles in the Club. The Executive Chef, Roche Ranasinghe has also been instrumental in making significant changes that have been appreciated by members and guests. I would also like to express a heartfelt thanks to all our loyal staff for their input during the year. Gavin Thomas President Annual Report 2005 to 2006 |
