 The Annual General Meeting of the St George Leagues Club will be held on Sunday, 30 March 2008 at 10am. Contained in this article is a link to the Annual Report of the Board of Directors and Statement of Financial Performance for the financial year ended 31 October 2007 which will be presented for the members' consideration and approval.
To download your copy in pdf format click here.
The St George Leagues Club has produced an operating profit of $4,187,970 before finance costs, grants and taxation.
This result represents a considerable reduction in profit when compared with previous years.
A reduction was expected and had been foreshadowed in previous Club journals which warned of the impact of increased gaming tax and the implementation of the final stage of smoking restrictions which took effect during 2007.
The Board of Management anticipated a downturn in revenue as a result of smoking bans in line with the experience of other states.
However the downturn experienced in NSW has been more prolonged and severe than expected.
The Board of Management adopted all measures that were available which could minimise the impact of smoking restrictions.
These included the construction of a well appointed outdoor terrace with the recent introduction of ‘al fresco' gaming.
Our Club Industry continues to be affected by taxation and regulation.
There have been a vast number of changes to the Registered Clubs Act together with the recent Commonwealth Anti-Money Laundering Counter Terrorism Financing Act all of which must be adhered to by our Administration.
Your Board of Management continue to review all opportunities to optimise the use of Club assets to generate additional revenue.
The Club has received development application approval from Kogarah Council for three major projects and I am pleased to advise that work is in progress to provide much needed additional parking and the rectification of boundary walls in the area previously occupied by the Bowling Greens.
The Club continues to have adequate cash reserves and with no debt, is in the best possible position to meet the capital expenditure requirements and the challenges for 2008.
Our condolences are extended to the family of John Fleming who passed away on 8 December 2007.
John was a former CEO of the St George District Rugby League Football Club, Director of the Leagues Club and Football Clubs.
The NRL Premiership commences on 14 March.
The Dragons will play six home games at WIN Stadium as well as six home games at Stadium Australia Homebush whilst further development takes place at OKI Jubilee Stadium.
2008 will mark the Centenary of Rugby League in Australia in which the Dragons will play a prominent role.
Details of these special events will be well publicised in the media and on the Dragons website.
We all look forward to a successful season and wish our players, coaches and administration staff the best of luck during the 2008 season.
Our Club was very popular over the festive season hosting many functions including Christmas lunch which was booked out with over 600 meals being served during the day.
Feedback and comments from our members and guests were glowing in their praise for the food presentation and quality of service.
On behalf of the Directors I would like to thank the members for their loyalty and continued support.
Although there are many challenges ahead the St George Leagues Club will continue to serve its members and fulfil its role in the community.
Warren Lockwood Chairman
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St George Leagues Club
LEAGUES CLUB JOURNAL
