GM Corner — The Moonee Ponds Club

GENERAL MANAGER'S REPORT

November 2023

It is worth noting that the information provided is for a full year’s trading whereas in the previous financial year, the club was open for 276 days ~76% of the year.

The Operating Profit for the 2022/2023 financial year, after providing for Income tax, interest, depreciation and amortisation, amounted to $129,443.17 compared to $122,616 for the 2021/2022 period which is viewed as a good result, given the current economic situation.

Items to note in the Financial Report:

Net Income for Bar was $767,317.40, this is $303,619.42 more than the previous financial year, a very good result;
Net Income for the Gaming room increased to $2,454,678.29 compared to $2,016,668.36 in the previous year;
Net Income for the Kitchen increased by $155,207.90 to $449,987.04;
Rates and Taxes increased substantially from $13,214.58 to $21,135.25 mainly due to increases including CPI; and Insurance, and Utility (Electricity & Gas) costs have increased by approximately 21% and 24% respectively.

Member benefits (member discounts, loyalty program etc) i.e. return to Member Benefits, such as Member’s Draw and Raffle, Kitchen discounts etc for the 2022/23 Financial Year were $74,514 compared to $49,867 in the previous year; this is an increase of just over 49% (49.43%).

As required by Government regulation, the Club distributed a Community Benefit of 8 1/3% of gaming income. As such, the Moonee Ponds Club distributed $41,840.88 in sponsorship for the last financial year. This was substantially more than the $21,509.47 distributed in the previous financial year.

Many thanks to the Coburg Cricket Club, East Keilor Rotary Club, Essendon Over 60’s Cricket Club, Moonee Ponds Cricket Club, Moonee Valley Bowls Club, Moonee Valley Cricket Club and St Bernard’s Old Collegians Cricket & Football Clubs for their continued support of the Moonee Ponds Club.

These clubs contributed over $250,000 to the club in the last financial year; this excludes any revenue from gaming. In addition, I would like to thank all of the members who have hosted a function at the club over the past 12 months.

In addition, the Club supports other local groups such as Pat’s 500 club, Days for the Girls etc whereby we donate goods and services such as Gift Vouchers, use of club rooms for free etc.

The Club remains in a very strong financial position with Total Assets of $12,062,144 and Net Assets of $8,858,813. It is worth noting that the Net assets have decreased in the past financial year; under accounting regulations, the Club was required to revalue its properties. This resulted in the value of the properties at 495 Mt Alexander Road and 8 Wordsworth Street (back car park) both increasing but the current building has an adjusted value down of approximately $1,100,000.

I would like to thank the Chairman of the Moonee Ponds Club, Vince Comito, my fellow Board members - Helen Mair, Philip Grech, Peter Lovell, David McAllister and David Newton, Philip Dentith, General Manager, and the staff at the club for their support and commentary.

And, finally, and by no means least, many thanks to you, the members for your ongoing support of the club.

Adrian Fuller

Treasurer

GM report for AGM

Hello members,

It gives me great pleasure to provide this report to the members of the Moonee Ponds Club.

Following a tumultuous two-year period when COVID and the associated restrictions significantly impacted the Club, we have now enjoyed a relatively stable twelve months of operations and have been pleased to see many Clubs enjoying our facilities once again.

Despite ongoing challenges in staffing, such as shortages, the hospitality sector continues to face these issues. However, at the MPC, we've successfully addressed these challenges over the past six months by assembling a remarkable new team. Allow me to introduce them: Ben, serving as the 2IC and administration manager, along with Tanya and Jo, our highly experienced duty managers. Josie is a supervisor and manages membership, among many other responsibilities. Adrain is also a supervisor. Justin and Kira contribute their culinary expertise as our chefs, while Amy and Phoeby handle signage and social media. Our outstanding team includes Will, Sam, Shelley, Dallas, Hayden, Kate, Isabella, and Mia. The members are fortunate to have such a dedicated and talented team.

Given the prevailing economic conditions, our organisation has achieved a robust Operating Profit of $129,443, factoring in income tax, interest, depreciation, and amortisation. Acknowledging the uncertainty surrounding the economic landscape for the next 12 months and the evolving gaming regulations, we recognise the challenges confronting our Club and the industry.

Despite these challenges, we have unwavering confidence in the Board and the MPC team's adept leadership. We believe that with their strong guidance, we are well-equipped to navigate any obstacles that may arise in the future.

In the last 12 months, two significant occurrences warrant special mention: the Royal Children's Hospital fundraising raffle and the trivia fundraiser day for Joy 94.9 FM. Both raised more than $5,000.

At our core, our guiding principles are prioritising our members, delivering exceptional value, and recognising your loyalty. Our commitment to affordability is evident in our competitive drink prices, which are consistently among the most economical in the region. As a member, you enjoy additional benefits, earning bonus points with every purchase. For instance, the recently opened Mt Alexander Hotel, where a regular schooner of Carlton costs $10, yet MPC members acquire it for just $7.20 and a mere $5 during happy hour. Furthermore, their wine selection starts at $12 a glass, while members access wine from $6.50 a glass with bonus points.

Looking ahead to 2024, the club will continue to offer Sunday entertainment, Bingo, Members' nights, significant members' draws, and a host of additional activities. Please feel free to provide feedback anytime; my door is always open, and I welcome any comments or suggestions you may have. Remember, “We all need people who give us feedback. That’s how we improve” (Bill Gates).

Lastly, I extend my gratitude to the dedicated staff and esteemed members of the Board for their remarkable commitment to the MPC. I wish everyone a merry Christmas. I encourage you to stay tuned to our social media channels for updates on all our offers.

Kind Regards

Philip Dentith

General Manager