Director’s Report Continued
Long Term Objectives
The company has identified the following long term objectives:
•
Great course and a modern Clubhouse and Golf Centre providing a full range of member services;
•
Facilities, customer service and communications of a high standard
•
Course consistency, at a high standard year round;
•
Increased prestige and pride with members recommending Green Acres to others;
•
To maintain and protect the Green Acres heritage of:
- Tranquil club environment providing an inner east sanctuary on the Yarra river;
- Friendly culture for members, their families and friends;
- Accessible and welcoming with user friendly golf booking arrangements; and
- Strong financial position and risk management plan.
The company has adopted a Strategic Plan that documents the key goals and performance indicators
required to meet the above objectives and monitors the progress being made.
Performance Measurement
The company uses (among others), the following key performance indicators:
•
The company prepares a budget and monitors performance against budget and prior years;
•
The company participates in a detailed benchmarking exercise with similar clubs to ensure that
revenues, expenses and cost controls meet or exceed industry standards;
•
The number of members at balance date was 1497 compared to 1569 in 2013;
•
The company complied with all Occupational Health and Safety reviews conducted by external
bodies.
Membership Details
The company is prohibited by its Memorandum of Association from declaring or paying dividends.
The company is limited by Guarantee. If the company is wound up, the Memorandum of Association states
that each member is required to contribute a maximum of $2 towards meeting any outstanding obligations
of the company.
Auditors Independence Declaration
A copy of the auditors independence declaration as required under section 307C of the Corporations Act
2001 is set out on page 20.
No matter or circumsta