End Of Year Results

The early version of the 2023-24 trading result was slightly above budget expectations. This result is indicative of excellent budget planning and management and should provide comfort to members that their Board and Management have a good grasp of the business and its impacts.

2024/25 Budget

The production of the 2024/25 budget, signed off at the June Board meeting, was again faced with forecasting significant increases in electricity and insurance along with moderate increases in other marina costs such as gas, water, licensing, materials and supplies, and compulsory superannuation. These inflationary impacts continue unabated.

Trading expectations for the 2024-25 year are similar to that experienced in the previous year. The capital base has strengthened to a level that the Board can now consider some long-term but limited capital expenditure on some of the Marina’s fixed assets. As projects are identified, they will undergo prioritization and consultation with members.

Rental Pool Statistics For the statistically minded, the Rental Pool occupancy rate based on ‘berth nights rented to berth nights available’ for the immediate past six months was 97.5% up from 93.1% on the prior July-December period. The disbursement rate per metre was $2.339170 up 10.5% from the July-December period. Gross return on a ‘generic’ berth assuming a base berth value of $10,000 per metre – 8.5% annualised. Net return on berth investment (gross income less admin fee and levies) based on a berth value of $10,000 per metre – 5.8% annualised.

Members utilizing the Rental Pool will have again appreciated the quick disbursement earlier this month. This is a major advance on previous years where disbursement could take up to 30 days. This turnaround is due to staff using an innovative ‘work-a-round’ procedure to overcome software limitations.

Boat Dragging

Vessels that anchor in the ‘pond’ adjacent to the Marina have been subject to strong westerlies of late with one vessel recently dragging close to boats in the Marina’s G-row requiring protracted fending off.

There have been regular instances of dragging in the pond over the years as the holding is less than ideal. MSQ which is responsible for the canals has voiced frustration with the dragging issue and is engaging with the Marina to look for a solution.

AGM Notice

This is an early reminder of the 2024 AGM which is set down for 3:00pm Friday 29th November 2024.