The $900,000 improvement comes as the club continues growing membership, investing in facilities and pursuing development opportunities.
Club president Matt Holgate told 38 members at Sunday’s annual general meeting the result reflected prudent management, sound decision-making and strong member support.
"The result puts the club in an excellent position to continue investing in our facilities, maintaining strong financial reserves and delivering long-term benefits for our members and the wider community," Mr Holgate said.
Membership increased approximately 7 per cent, while more than $1.5 million was returned through rewards, promotions, prizes, discounts and benefits.
The new Mulwala Rewards program strengthened membership offerings, with feedback highlighting satisfaction with staff, entertainment and atmosphere.
The Club spent more than $1.45 million with local businesses, contractors, suppliers and entertainers, alongside $210,000 in donations and sponsorships supporting sporting organisations, community groups, health services and charities.
"When the Club performs well, the benefits extend well beyond our own operations; local businesses, sporting organisations and community groups all share in that success," Mr Holgate said.
CEO Greg Roberts said the Club held more than $10 million in cash and cash equivalents, an improvement exceeding $4 million from the previous financial year.
Revenue increased 4.5 per cent, while expenses fell slightly.
“With costs ever going one way it was a pretty good effort from the team to control the club’s expenditure,” Mr Roberts said.
Marina project advances
The club secured development application approval for its proposed marina project, marking a significant milestone in its long-term development strategy.
Mr Roberts said no final decision had been made, with further assessment of its commercial and operational potential required.
“There remains considerable work to be undertaken before any decision to proceed, however securing the approval preserves an exciting possible opportunity for the club’s future.”
Boat ramp and surrounding facility improvements were also completed, benefiting members, visitors and the boating community.
International championships showcase region
The club hosted the 2026 International Waterski & Wakeboard Federation (IWWF) Disabled Waterski World Championships at Max Kirwin Ski Park.
"Hosting an international championship is a tremendous achievement for the club and our community,“ Mr Holgate said.
“It reinforces the importance of water skiing to our identity and highlights what our region can offer on the world stage."
Mr Holgate said the club was looking forward to hosting the 2027 IWWF World Waterski Championships next November.
The two week event is expected to bring more than 180 athletes from 33 countries.
Governance and future growth
Governance reforms included developing a Board Charter, Code of Conduct and modernised Constitution, incorporating triennial elections to strengthen director accountability and contemporary governance standards.
Members approved a new Constitution on Sunday, providing a more contemporary, compliant framework for future operations, including a including a new triennial election process.
Work has continued on a new strategic plan that will guide investment, infrastructure and sustainability.
The 2026–2027 board underwent one change, with Ben Levesque and Nathan Tresize re-elected alongside newcomer Kait Cummins, who previously accepted an invitational board position following Gary Wilson’s resignation.
All three were elected unopposed, joining Matt Holgate, Andrew Starr, Gavin Williams and Trevor Bailey.
19°C