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Board Report: July 2016

Hi Everyone,

The August Board meeting was held in Wellington on Friday 19th August and was our first meeting for the 2016/17 financial year.   

At the time of writing we have just finalised the audited accounts for the 2015/16 year, and these were sent to clubs on Friday 2nd September.  In the end, the final Net Profit for the year was $260,795, which was better than the last forecast due to a year-end adjustment the auditors wanted to make to better reflect the timing of State Insurance sponsorship income in the final year of the contract. Most importantly the year cash position continues to improve and Net Assets are now at $1.453 million compared to just $102,000 at the end of the 2012/13 year.

Looking at the first month of the 2016/17 year there was a Net Operating Surplus of $0.661 million, which is $231,000 behind budget.  This variance is all due to timing variations, an explanation of these is in the attached Financial Summary Dashboard.  More relevant is the latest forecast the full year Net Operating Surplus which is in still in line with the budget at $356,860. 

Significant items of note from the meeting are:

  • One of the main strategic discussion topics this month was on the management of sport - and to help with those discussions Brad O'Leary, chair of the National Sport Committee was able to join us.  This was a good discussion and we covered a wide variety of topics in relation to how well surf sport was being delivered and noted a number of areas for improvement.  Further work will now be done by Management and the National Sport Committee to improve the planning, communications and stakeholder relationships.
  • Sustainability was again a major theme for the meeting - with a detailed discussion on the strategy to attract funds to the SLSNZ Foundation.  The short term focus will be on identifying potential donors and preparing the necessary marketing collateral.  This will be a long term programme but the Board is very keen to get things moving quickly.  The Board also discussed fundraising activities and initiatives to increase the number of regular donors.
  • The Board noted that over 40 clubs have registered to attend the AGM on 24th September which is even better than last year.  The agendas for the AGM and the Club Chairs Workshop were discussed and finalised from a Board perspective. Good progress was noted on the Annual Report and the arrangements for Awards of Excellence dinner.  The Board was also given an update on the progress of the Board Appointments Panel - a report of which has now gone out to clubs soon ahead of the voting on the Elected Board positions at the AGM.
  • The Board reviewed the outcomes of the SLSNZ 2015/16 Strategic Plan and was pleased with progress.  We also reviewed the results of the 2016 Staff Survey and noted a good increase in the level of staff engagement and satisfaction with the organisation
  • A report looking at the geographical beach drowning 'blacks spots' was noted.  This information gave a useful insight into the key areas of risk around the country.
  • Good progress was noted with the implementation of the various projects and activities to be funded by the one-off $1million grant from the Infinity Foundation.  Procurement for many of the items coming out to clubs is underway, and represents a major investment in surf life saving nationwide.  Perhaps more exciting is the opportunity the grant creates in building relationships at a local level between Infinity and clubs, as on an ongoing basis these relationships could create some great win/win partnerships and access to funding for clubs.
  • An update was provided on activities at Water Safety New Zealand, most notably the appointment of a new CEO and the next steps to be taken on a Sector Capability Review report.

And that's it from the meeting.  The next Board meeting will be held in Wellington on Friday 21st October.   So until my next update……

Yours in surf,

Geoff Hamilton
Chairman
Surf Life Saving New Zealand