Moorefield Bowling and Sports Co-operative Limited
Chairman’s Report to the 2021 Annual General Meeting
Dear Members,
On behalf of the Board of Directors , I am pleased to present the 2021 Annual Report, and comment on the important aspects relating to operation of the Club during the year under review.
As can be seen from the annual accounts being presented today, the Club had a very successful financial year, with a profit of some $370,000, which has placed it in a good financial position to come through the recent Covid 19 lockdown . Cameron Crosby will say more about the finances in his Treasurer’s report which will be presented shortly.
In this current financial year, (2020/2021), the Club has performed well above the budget set by the Directors. This is due to the great support of the Members, and also the initiatives taken last and this year in regard to the capital works , and also the promotional activities , especially having entertainment , all which has brought many new people to the Club each week.
Because of the excellent results, during the year the Directors were able to undertake capital expenditure of $142,000 , including new carpet, the back deck, upgrading poker machines and the poker machine smoking area, new security cameras, a new computer system and televisions and audio visual for the Club .
Since the end of the year, the Club has completed its carpet replacement and has committed to the upgrade of the No 2 , Bob Hagon, Green, with an expected cost of around $50,000. The Club has the funds available to carry out these works.
We have also commenced to upgrade the Clubs website , and although the Clubs name will not change, we have registered the business name “Moorefield Bowlo” which will be used when appropriate.
During the year, the Directors have developed a five-year business plan to assist in the management of the Club going forward and set strategies for improving the Clubs facilities for its members.
The plan includes maintaining a cash reserve of $450,000 to cover any future contingencies , and before any capital expenditure is undertaken
The Directors are currently working with Bayside Council regarding the renewal of the lease for the Club, and are hoping to have this finalised in the near future.
Our bowlers have also had an outstanding year, with all four grades making it to the Zone playoffs which for a small Club like Moorefield is an outstanding effort .
I would like to thank my fellow Directors for their support and good work throughout the year, our great staff , Josh the greenkeeper , and the many volunteers who have contributed so much to the Club. Thanks also to David’s Kitchen for their excellent food and service and being an important part of our success.
I would particularly like to thank Phil Whiteley for the enormous amount of time he has given in making sure the day-to-day things happen here at the Club as well ensuring the various compliance requirements are being met.
In conclusion, I thank you the Members for your support during the year and helping make this small Club successful and a pleasant place to visit .
Nathan Bornstein -Chairman