Alberta Golf 2016 Annual Report - s3.amazonaws.coms3.amazonaws.com/golfcanada/app/uploads/albertagolf/production/... · 16 14 1 CORE VALUES: Purposeful, Inclusive, Respectful, Responsive234

Alberta Golf 2016 Annual Report

ALBERTA GOLF ASSOCIATION

#22, 11410 27 STREET SE CALGARY ALBERTA T2Z 3R6

PHONE 403.236.4616FAX 403.236.2915TOLL FREE [email protected]

ALBERTAGOLF.ORG

Cover PhotoAndrew Harrison at the Innisfail Golf Club during the 2016 Sun Life Financial Alberta Men’s Amateur Championship

Inside Cover PhotoKat Kennedy (left) gave her competitor and friend Jaclyn Lee (right) a hard time during the 2016 Sun Life Financial Alberta Ladies Amateur Championship at the Highwood Golf & Country Club

Membership Fees 49%Amateur Championships 22%Alberta Sport Connection 10%Casino, Other Grants & Interest 2%Member Programs & Services 5%Sponsorship 4%Sport Development & Grassroots and High Performance 8%

Administration & Overhead 22%Amateur Championships 35%Member Programs & Services 13%Sport Development & Grassroots and High Performance 18%Communications & Business Development 12%Results

By the Numbers

FinancialAnalysis

816

14

1234CORE VALUES: Purposeful, Inclusive, Respectful, Responsive

GROW PARTICIPATION

1.1 - Engage more youthin the sport of golf

1.2 - Develop a connection with more golfers

1.3 - Increase access for Albertans that are new to

golf

ENSURE EXCELLENCE

2.1- Implement programming for high performance athletes

2.2 - Develop coaches andcerti�ed o�cials

2.3 - Host best in class provincialand national championships

EXPAND CAPACITY

3.1 - Develop sustainable fundingand �scal responsiblity

3.2 - Enhance member services and sustain rules,

handicapping, course rating,amateur status and the history

of golf

3.3 - Provide opportunities fortraining and developmentof all volunteers and sta�

FOSTER INTERACTION

4.1 - Collaborate with all industrypartners and stakeholders

4.2 - Strengthen capabilities incommunication, marketing and

technology

4.3 - Promote the societalbene�ts of golf

MISSION: As the Provincial Sport Organization, we are committed to realizing the positive impactsof golf on individuals and communities across Alberta

VISION:Through golf, Albertans will enjoy a high

quality of life, improved health and wellness, a strongsense of community, economic bene�ts and personal ful�llment

STRATEGIC PLANVISION 2018

Key Performance Indicators

Last Revised: October 25, 2015

2016 Alberta Golf DirectoryBOARD OF DIRECTORS

PRESIDENTBob McGinn, Sturgeon Valley

VICE PRESIDENTTom Zariski, Dinosaur Trail

SECRETARYTiffany Gordon, Cottonwood

TREASURER Augie Annicchiarico, Highlands

PAST PRESIDENT & PROVINCIAL COUNCIL REPRESENTATIVESusan MacKinnon, Willow Park

DIRECTORS AT LARGE Peter Major, CalgarySteven Johnson, Golf Canada EdmontonLorraine Moster, Golf Canada EdmontonBill McNaughton, Glencoe

PRESIDENT - ALBERTA GOLF ASSOCIATION FOUNDATION Tom Zariski, Dinosaur Trail

STAFF (AS OF JUNE 1, 2016)

EXECUTIVE DIRECTOR/CEOPhil Berube

CHIEF OPERATING OFFICERJack Lane

MANAGER, HIGH PERFORMANCE SPORTRandy Robb

MANAGER, RULES & COMPETITIONSRobert Forshner

MANAGER, YOUTH DEVELOPMENTTyler McConachy

MANAGER, COMMUNICATIONS & DIGITAL MEDIALandon Jones

MANAGER, MEMBER & PUBLIC RELATIONSChloe Mansfield

COORDINATOR, PROJECTSAngela Cooke

COMPETITIONS INTERNStephen Wigington

COMMUNICATIONS INTERNTyler Kemp

DEVELOPMENT TEAM COACHLuke Workman

DEVELOPMENT TEAM COACHJohn Deneer

ACCOUNTING SERVICESEric Rogers

GOLF CANADA

DIRECTORS AND GOVERNORS (FROM ALBERTA)

1ST VICE PRESIDENT Leslie Dunning

GOVERNORSFran MarsdenHerb Schlotter

HONORARY LIFE GOVERNORSR. Bruce BaileyThelma CouttsWayne C. PetersenKaren Rackel, Q.C.Thomas P. WoodHarry Zuzak

FINANCE, AUDIT & RISK MANAGEMENT Augie Annicchiarico – Chair Mark BamfordPeter DaviesLeslie DunningBill McNaughtonPhil Berube*

GOVERNANCEPeter Major – ChairSteven JohnsonTiffany GordonLorraine MosterPhil Berube*

HUMAN RESOURCES & COMPENSATIONLorraine Moster – ChairSusan MacKinnonBob McGinnKen KnowlesPhil Berube*

NOMINATINGTom Zariski – ChairSteve JohnsonBob McGinnPhil Berube*

COMMUNICATIONS Jack Lane*Chloe Mansfield*Landon Jones*

FUNDRAISING & SPONSORSHIP Bob McGinn – ChairGary BauerKim CarringtonKen KnowlesDunc MillsTiffany GordonBill McNaughtonJack Lane*Phil Berube*

HALL OF FAMEEnid Botchett – ChairDunc Mills Fran MarsdenVarley WeismanJack Lane*

HANDICAP & COURSE RATINGHerb SchlotterHowie JaquishChloe Mansfield*Jack Lane*

MAGAZINEDunc Mills Jack Lane*Chloe Mansfield*

PLAYER SUPPORTJim Richardson – ChairChris LeachTyler McConachy*Robert Forshner*Randy Robb*

SPORT DEVELOPMENTJohn Deneer **Luke Workman**Randy Robb**Tyler McConachy*Jack Lane*

VOLUNTEER ENGAGEMENT Tom Zariski – ChairAv BeirnesLois GilbertsonRay RohrLes SwelinAnne Ward NevilleJack Lane*Chloe Mansfield*

AGF SCHOLARSHIPTed Thresher – Chair Bill ThomasLyle Cuthbert Tyler McConachy*

*Alberta Golf Staff**Team Alberta Coach

Alberta Golf Board of Directors

2016 STANDING COMMITTEES 2016 OPERATING COMMITTEES

President’s Report

Bob McGinnPresidentAlberta Golf

IT HAS BEEN AN HONOUR TO SERVE AS ALBERTA GOLF’S PRESIDENT FOR 2016, AND IT GIVES ME GREAT PLEASURE TO SHARE THIS MESSAGE AND ANNUAL REPORT WITH YOU.Honour – a word at the heart of this game. A game that teaches our youngest players about personal responsibility, as demonstrated by the fact that even at a very young age, those players have enough personal responsibility to call penalties on themselves. A game that teaches all of us about respect for the golf course, where we fix a divot when we make one. A game where rules officials spend far more of their time helping to educate our younger tournament players, than they do administering penalties. It is words like “honour”, “respect” and “responsibility” that account for the greatness of this game, and the reason that we must all continue working to ensure its future growth. This is a mission that all of us at Alberta Golf are supporting in all of our programs, from the 46,000 children in 396 schools across Alberta that are participating in our Golf in Schools program, through the 550 young girls who participated in the first year of our new She Swings She Scores program, to our Senior Championships. In the following pages we present a summary of the past year’s activities, including youth development and high performance highlights, provincial champions, program information and the financial results for the fiscal year. You will notice that the financial highlights are now formatted in a way that delivers much more information about the many programs, and the investment that Alberta Golf and our Member Clubs are making in this amazing sport.I want to start by saying a special thank you to our member clubs for your loyalty and confidence, and to so many of you for hosting our tournaments, and to our industry partners for your collaboration. This community of support contributes to everything that makes us all successful in growing this game.This has been a busy and successful year for Alberta Golf. We lost our former Executive Director, Matt Rollins, to the Hawaii State Junior Golf Association in February, and while we miss him, we were very fortunate to find a superb replacement, Phil Berube, a past Executive Director of the PGA of Alberta.The board and staff have spent countless hours working with Golf Canada on a new Membership Model, one that will facilitate growth in the membership of Alberta Golf and Golf Canada, and increase participation in this game that we all love. This new model, which has been in the trial stages over the past two years, is being rolled out in a much more significant way in Alberta for 2017, and we expect that it will encourage much more awareness of the many benefits of belonging to Alberta Golf, and encourage much more participation by those interested in Golf across this province.Through our Provincial Council Representative, and Past President of Alberta Golf, Susan

MacKinnon, our Board has also played a significant role with Boards in other Provinces and with Golf Canada to work towards aligning our Strategic Plans, and ensuring that we are all working together to ensure the growth of our game across Canada.Our Volunteers are the heart and soul of our organization. We have over 80 active volunteers with Alberta Golf, and 200 more at the club level helping with the many necessary functions to make our championships among the best in North America. Our Volunteers have donated well over 10,000 hours of combined time to help Alberta Golf grow this game, and without them, we would never be able to deliver the value and results to our Member Clubs and to the quality of our amateur tournaments that we do. Many casual readers of this Report will not know that without our Course Raters, we would not be able to have ratings for our courses, and the entire handicap system would not be possible. Our competitive players know that our championships are the ‘Best in Class’, thanks to our Rules Officials, Tournament Officials and Starters and Scorers, who are quite often at the course an hour before the first competitive players tees off, and an hour after the last golfer has left – often putting in 14-hour days. Our Committee and Board members put in countless hours dedicated to the success of our organization and the Mission and Vision outlined in this report. On behalf of the entire Board and all of our staff, a heartfelt “thank you” to each and every one of them. Another critical part of our success is our Sponsors, led by our Title Sponsors, Sun Life

Financial, Guardian Capital and Scott Venturo LLP. The quality of the events, prizes and success in attracting quality competitors is made possible by them, and we thank them for their ongoing support and commitment.Also reporting to you in this Annual Report is the Alberta Golf Foundation, and we urge you to read their information. Alberta Golf is proud to support that Foundation, which in 2016 supported 35 young adults, golfers and non-golfers alike, with scholarships totaling more than $54,000, to help with their education.The Association’s financial results are highlighted in this report and are reviewed in detail in the Treasurer’s financial analysis and report. Alberta Golf recorded a surplus of $49,511 in 2016 before amortization, and given a number of unexpected issues this year, we were delighted with this result. A special thanks goes to our staff for managing this. In addition, we are pleased to unveil our new financial reporting to our readers. This new reporting provides much more detail, breaking out our revenues and expenditures into six separate schedules. As a result, Alberta Golf’s support for Sport Development (primarily youth development), Amateur Competitions, and Member Programs and Services becomes very clear.And mostly, we thank our players, whether you play one Texas Scramble per year, or 150 games at your local club, and the parents, who are often out at the course before the Rules Officials, supporting your youngster as they warm up and prepare for the competition ahead – you are responsible for all of this! It is your support that is ultimately responsible for Alberta’s success on the national stage. Alberta is proud of our junior boys and girls on Team Alberta, and especially proud of Alex Smith who made Team Canada’s Development Team and Jaclyn Lee who is a member of Canada’s National Team. Jaclyn won the 2016 Marlene Streit Award (low amateur) at the CP Women’s Open hosted on home soil at the beautiful Priddis Greens G&CC. On behalf of our very successful young golfers, thank you to all of the member clubs, and golfers across Alberta for your support. Our success in growing this game, developing our youth, and helping all Albertans realize the positive impacts of Golf on individuals and our communities, is dependent upon our management and staff, led by our Executive Director, Phil Berube, and the parents, youth, volunteers, competitors and supporters alike. Thank you all. And in closing, thank you to my fellow members of the Board of Directors for your outstanding efforts, expertise and support.Sincerely,

Bob McGinn

2016 ANNUAL REPORT — 5

6 — ALBERTA GOLF

Mitch Fox tees off in pursuit of the 2016 Scott Venturo Alberta Open Championship at the RedTail Landing Golf Club

Executive Director/CEO’s ReportIT’S ALL ABOUT COMMUNICATION.

WHEN I JUMPED ON BOARD WITH ALBERTA GOLF EARLIER THIS SEASON I CAME IN WITH A VERY OPEN MIND TO LEARN AS MUCH AS I COULD ABOUT THIS HISTORIC ASSOCIATION WHILE MAKING A COMMITMENT TO LEAVE ALL LINES OF COMMUNICATION OPEN. I WANTED TO STRIKE UP A CONVERSATION WITH EVERY STAFF MEMBER, BOARD MEMBER, COMMITTEE MEMBER, SPONSOR AND SUPPORTER AND JUST TAKE IT ALL IN, BEFORE GETTING TO THAT PLACE WE ALL STRIVE TO GET TO IN TERMS OF ‘WHAT CAN WE DO TO MAKE THINGS BETTER?’

Overall 2016 has been a tremendous learning year.

The first question I asked our staff during our first planning session was the same question I have heard so many times throughout my career in the golf business: What is Alberta Golf? What does Alberta Golf do?

I may have put it a little differently that morning given the knowledge I had into the operation, but essentially the question was ‘Aside from course rating and handicapping, what else does Alberta Golf do for the golf industry?’ This is a question we have all heard many times over.

The answer surprised me. Alberta Golf has 125 different projects on the go every year.

The season started off with our Spring Training at the Cottonwood Golf & Country Club where over 40 staff and volunteers spent the better part of two days learning more about the operation and how to make things better for the 48,000 golfers we serve. During the training we were introduced to a handbook and manual that a committed and passionate group of volunteers from within the Association took upon themselves to craft and produce.

For me this was the start of my own personal journey into exploring how deep these commitments were on behalf of our volunteer base. As it turns out Alberta Golf is fortunate to find itself in a very strong position when it comes to our volunteer network – a deep wealth of talented individuals.

These volunteers, whether they serve on boards, committees or at just one event have garnered interest in the game from thousands of individual supporters as well as many corporate partners and organizations like Alberta Sport Connection.

As the season marched on our championship team took over and I was able to watch our rules officials in action and see the expression of gratitude on the faces of competitors, parents and host club officials for what Alberta Golf does for the game. It was eye opening.

Throughout the year, course after course,

the impact being made was consistent, culminating with our Net Amateur Championship (which appealed to our largest demographic) and our Provincial Interclub (which showcased our province’s top golfers). Both events helped to inform many of the concepts being explored this winter as Alberta Golf looks to expand our future membership offering in Sport Development.

The season winded up with our Volunteer Appreciation Day at the Edmonton Petroleum G&CC, yet another successful day for Alberta Golf. And it was everything in between that Alberta Golf does and does so well that impressed me the most this year, during my season of learning.

It is this, that I feel is the single most important thing to communicate in this annual report. It is the time and diligence being taken by our volunteers to prepare and execute on an event; spending time to evaluate our policies and our agreements; making sure our investments are being properly managed; contacting our media partners about upcoming competitions; communicating with clubs about the benefits of our high performance programs and overall instilling confidence with all stakeholders that Alberta Golf is there to support all aspects of the game in our province.

So back to that question: what is Alberta Golf and what does Alberta Golf do?

What I have learned is that Alberta Golf does all the right things in all the right ways and does everything in the best interest of what’s

good for golf. As one of our volunteers put it so eloquently this summer, Alberta Golf is…good for golf.

Building on this as we head into our planning season we will try and keep things simple in 2017, lead by example and communicate clearly that our role should be to play more golf. We are going to support every existing industry effort to grow the game and we are going to play more golf. Did I already say we are going to play more golf? I asked our nine-member Board of Directors how many rounds of golf they played in 2016 and the combined answer was 255. Five more rounds each. One round per month from May to September. Let’s see if we can hit 300 in 2017.

What can we do to make things better at Alberta Golf? As difficult as it will be, the one thing we can do is Play More Golf. Let’s try it and see what that does for us.

I am really looking forward to what we will accomplish together in 2017 and would like to close by thanking each and every board and staff member for welcoming me to the team during my first year with Alberta Golf. This is already a very well run operation and I feel fortunate to have become part of it.

Sincerely,

Phil Berube


Evan Holmes shares a moment with the host club and local volunteers from the Innisfail Golf Club after claiming the 2016 Sun Life Financial Alberta Men’s Amateur Championship

2016 Championship Results

Evan Holmes2016 Alberta Men’s Amateur Champion

OPEN QUALIFYING SOUTH - CARSTAIRS GC, CARSTAIRS, AB. JUNE 1, 2016

Matt Codd - Red Deer GCC (71)

OPEN QUALIFYING NORTH - GOOSE HUMMOCK GR, GIBBONS, AB. JUNE 3, 2016

A.J. Armstrong - Windermere GCC (74) Jack Wesche - Country Hills GC (74) Phil McKenzie - Glendale GCC (74)

JUNIOR QUALIFYING EDMONTON - BROADMOOR GC, SHERWOOD PARK, AB. JUNE 5, 2016

Jacob Thomas - Edmonton CC (71)

JUNIOR QUALIFYING SOUTH - HENDERSON LAKE GC, AB. JUNE 5, 2016

Jace Ouellette - Innisfail GC (72)

JUNIOR QUALIFYING CALGARY - WOODSIDE GC, AIRDRIE, AB. JUNE 6, 2016

Matthew Tse - Country Hills GC (72) Brandon Maxwell - Alberta PPC (72) Jordan Bean - Canmore GCC (72) Cian Besler-Chalcroft - Bearspaw CC (72)

JUNIOR QUALIFYING NORTH - THE DUNES GWC, GRANDE PRAIRIE, AB. JUNE 6, 2016

Reid Svendsen - Grande Prairie GCC (76)

AMATEUR QUALIFYING EDMONTON - BARRHEAD GC, BARRHEAD, AB. JUNE 7, 2016

Ty Steinbring - Barrhead GC (71) Eric Sheard - Derrcik GWC (71)

AMATEUR QUALIFYING CALGARY - SILVERWING GC, CALGARY, AB. JUNE 8, 2016

Will Ni - Blue Devil GC (67) Ryan Smith - Calgary Elks GC (67) Matthew Campbell - Earl Grey GCC (67)

AMATEUR QUALIFYING NORTH - GRAND PRAIRIE GCC, GRANDE PRAIRIE, AB. JUNE 8, 2016

Konrad Turcotte - Alberta PPC (73) Darren Kruse - Grande Prairie GCC (73) Jamie MacLeod - Grande Prairie GCC (73)

AMATEUR QUALIFYING SOUTH - THE BRIDGES AT CLARESHOLM GC, CLARESHOLM, AB. JUNE 9, 2016

Michael Valk - Medicine Hat GCC

AMATEUR QUALIFYING CENTRAL - OLDS GC, OLDS, AB. JUNE 9, 2016

Ryan Hounjet - Priddis Greens GCC (69) Brett Pasula - Red Deer GCC (69)

SENIOR QUALIFYING SOUTH - CALGARY ELKS GC, CALGARY, AB. JUNE 13, 2016

Tim Hogan - Bearspaw (72)

SENIOR QUALIFYING NORTH - LEDUC GCC, LEDUC, AB. JUNE 16, 2016

Christopher Hairrell - Alberta PPC (70)

ALBERTA OPEN CHAMPIONSHIP - REDTAIL LANDING GC, NISKU, AB. JUNE 21-22, 2016

Brett Hogan (Amateur) - Glencoe GCC (134

Low Amateur Brett Hogan - Glencoe GCC (134)

ALBERTA MATCH PLAY CHAMPIONSHIP - REDTAIL LANDING GC, NISKU, AB. JUNE 23-24, 2016

Jack Wood - Banff Springs GC (wins 19 holes) Runner up - Matt Williams - Glencoe GCC

ALBERTA MEN’S MID-AMATEUR CHAMPIONSHIP - PONOKA GC, PONOKA, AB. JUNE 28-30, 2016

Jordan Irwin - Banff Springs GC (214)

Mid Master Champion Paul Briske - Heritage Pointe GC (220)

SUN LIFE FINANCIAL ALBERTA LADIES AMATEUR CHAMPIONSHIP - HIGHWOOD GCC, HIGH RIVER, AB. JULY 5-7, 2016

Jaclyn Lee - Glencoe GCC (211)

Mid- Amateur Champion Lauren Diederichs - Elbow Springs GC (226)

Mid-Master Champion Kyla Larder - Edson GC (243)

ALBERTA JUNIOR CHAMPIONSHIPS* - COTTONWOOD GCC, DE WINTON, AB. JULY 12-14,15, 2016

(Junior Boys reduced to 54 hole Championship due to inclement weather)

Boys Champion Jaxon Lynn - Sylvan Lake GCC (207)

Girls Champion Kenna Hughes - Willow Park GC (211)

Boys Juvenile Champion Chandler McDowell - Red Deer GCC (215)

Girls Juvenile Champion Taylor Stone - Pinebrook GCC (234)

SUN LIFE FINANCIAL ALBERTA MEN’S AMATEUR CHAMPIONSHIP - INNISFAIL GC, INNISFAIL, AB. JULY 19-22, 2016

Evan Holmes - Glencoe GGC (273)

GUARDIAN CAPITAL ALBERTA SENIOR MEN’S CHAMPIONSHIP - STONY PLAIN GCC, STONY PLAIN, AB. JULY 26-28, 2016

David Schultz - Country Hills GC (214)

Super Senior Champion - Howard Broun - Earl Grey CC (223)

GUARDIAN CAPITAL ALBERTA SENIOR LADIES CHAMPIONSHIP - OLDS GC, OLDS, AB. AUG 10-12, 2016

Lynn Kuehn - Lacombe GCC (221)

Super Senior Champion Alison Murdoch - Victoria GC (232)

GFTC LADIES TEAM CLASSIC - WINTERGREEN GCC, BRAGG CREEK GC, AB. AUGUST 15-16, 2016

Sylvia Adams - Lakeside Greens GCC & Karoline Beninger - Alberta PPC (137)

ALBERTA BANTAM CHAMPIONSHIP RIVER’S EDGE GC, OKOTOKS, AB. AUGUST 23-24, 2016

(Reduced to 18 hole Championship due to inclement weather)

Boys Champion Ethan Choi - Pincher Creek GC (59)

Girls Champion Annabelle Ackroyd - Silver Springs GCC (75)

ALBERTA NET AMATEUR CHAMPIONSHIP DINOSAUR TRAIL GC, DRUMHELLER, AB. AUGUST 30-31

Mens Champion Mike Ross - Alberta PPC (72)

Ladies Champion Betty Fisher - Stony Plain GC (73)

Marg Ward Champion Sandy Tougas - Fort Saskatchewan GCC (70)

8 — ALBERTA GOLF

Jaclyn Lee2016 Alberta Ladies Amateur Champion


10 — ALBERTA GOLF

Young golfers making new friends at the 2016 Alberta Bantam Championship at the River’s Edge Golf Club

2016 Team Results

(Left to right) Scott Secord, Evan Holmes, Matt Williams - 2016 Canadian Men’s Amateur Willingdon Cup Team

50TH PACIFIC COAST AMATEUR CHAMPIONSHIP - SEATTLE GC, SEATTLE, WA. JULY 26-29, 2016

Morse Cup Team Result - Stroke Play - Tied Second Place

Patrick Murphhy, Andrew Harrison, Brett Hogan (293)

CANADIAN WOMEN’S AMATEUR CHAMPIONSHIP - KEN-WO CC, NEW MINAS, NS. JULY 26-29, 2016

Inter-Provincial Team Result - Stroke Play - Fifth Palce

Jaclyn Lee, Kat Kennedy, Quinn Fitzgerald (304)

CANADIAN JUNIOR BOYS CHAMPIONSHIP CLOVELLY GC, ST. JOHN’S, NL. AUGUST 1-4, 2016

Inter-Provincial Team Result - Stroke Play - First Place

Chandler McDowell, Brendan MacDougall, Matt Bean (286)

CANADIAN JUNIOR GIRLS CHAMPIONSHIP THE LINKS AT PENN HILLS GC, SHUBENACADIE, NS. AUGUST 2-5, 2016

Inter-Provincial Team Result - Stroke Play - Sixth Place

Kenna Hughes, Kehler Koss, Alicia Easthope (318)

ALBERTA/MONTANA RYDER CUP - WHITEFISH GC, WHITEFISH, MT. AUGUST 8-10, 2016

Team Result - Match Play - Boys Second Place; Girls First Place

Boys - Jacob Thomas, Austin Noskiye, Cameron Duffin, Owen MacEachern, Cian Besler-Chalcroft, Jakob Chicoyne

Girls - Kehler Koss, Alicia Easthope, Taylor Stone, Reese Martin, Annabelle Ackroyd, MacKenzie Baustad

CANADIAN MEN’S AMATEUR CHAMPIONSHIP - THE ROYAL OTTAWA GC, OTTAWA, ON - EAGLE CREEK GC, DUNROBIN, ON. AUGUST 8-11, 2016

Inter-Provincial Team Result - Stroke Play - Tied Third Place

Evan Holmes, Matt Williams, Scott Secord (284)

GFTC LADIES TEAM CLASSIC - WINTERGREEN GCC, BRAGG CREEK GC, AB. AUGUST 15-16, 2016

Sylvia Adams - Lakeside Greens GCC & Karoline Beninger - Alberta PPC (137)

CANADIAN MEN’S MID-AMATEUR CHAMPIONSHIP - GOLF CHATEAU-BROMONT, BROMONT, QC. AUGUST 23-26, 2016

Inter-Provincial Team Result - Stroke Play - Second Place

Jordan Irwin, Gerry MacDonald, Paul Briske (143)

CANADIAN WOMEN’S SENIOR CHAMPIONSHIP - WOLF CREEK GR, PONOKA, AB. AUGUST 24-26, 2016

Inter-Provincial Team Result - Stroke Play - Fourth Place

Lynn Kuehne, Cheryl Newman, Joan Wilson (312)

CANADIAN MEN’S SENIOR CHAMPIONSHIP - GRAND NIAGARA GC, NIAGARA FALLS, ON. SEPTEMBER 6-9, 2016

Inter-Provincial Team Result - Stroke Play - First Place

David Schultz, Frank Van Dornick, Brian Brown (284)

ALBERTA MEN’S INTERCLUB CHAMPIONSHIP - CANMORE GCC, CANMORE, AB. SEPTEMBER 8, 2016

Earl Grey CC - Jimmy Cowan, Eric Allard, Peter Slade, Rhys Royer (202)

Net Champion - Priddis Green GCC - Bryan Shettler, Pat Deis, Ken Brown, Mike Lukawitski (211)

(Left to right) Taylor Stone, Kehler Koss, Kenna Hughes - The 2016 Canadian Junior Girls Inter-Provincial Team


Team Alberta member Sharmaine Rapisura keeping her eye on a pitch shot during the 2016 Future Links Pacific Championship

12 — ALBERTA GOLF

TEAM ALBERTA 2016 BOYS PROVINCIAL SQUAD

Mas Sekulic - Grande Prairie GCC Best notable finish - 1st PGA of Alberta Junior Masters

Logan Carver - Calgary GCC Best notable finish - T7 Alberta Junior Championships

Brendan MacDougall - Glencoe GCC Best notable finish - 1st CNFL Western Championship

Ethan Choi - Pincher Creek GC Best notable finish - 1st Alberta Bantam Championship

Landon Stellingwerff - Glencoe GCC Best notable finish - 25th PGA of Alberta Junior Masters

Michael Lavorato - Canyon Meadows GCC Best notable finish - T5th CGA Junior Boys Championship

Chandler McDowell - Red Deer GCC Best notable finish - 1st Alberta Juvenile Boys Championship

Chris Horton - Country Hills GC Best notable finish - 6th Alberta Junior Boys Championship

Max Murchison - Bearspaw CC Best notable finish - 1st Alberta High School Provincial Championship

TEAM ALBERTA 2016 GIRLS PROVINCIAL SQUAD

Kehler Koss - Earl Grey CC Best notable finish - 1st CNFL Western Championship

Annabelle Ackroyd - Silver Springs GCC Best notable finish - 1st Alberta Bantam Championship

Claire Emery - Glencoe GCC Best notable finish - 1st Canadian Junior Golf Association at Red Tail

Sharmaine Rapisura - Canyon Meadows GCC Best notable finish - 1st Alberta High School Provincial Championship

Lauren Koenig - Connaught GCC Best notable finish - 1st Maple Leaf Junior Tour at Olds

Cassidy Laidlaw - Bearspaw CC Best notable finish - 1st McLennan Ross Tour Championship

Sydney Weber - Carstairs GC Best notable finish - 2nd Maple Leaf Junior Tour at River Bend

Jaden Baustad - Cottonwood GCC Best notable finish - 5th Alberta High School Provincial Championship

Team Alberta Provincial SquadPAST PRESIDENTS

ALBERTA GOLF ASSOCIATION AND ALBERTA LADIES GOLF ASSOCIATION

AGA ALGA1912 Unknown1913 Unknown1914 Unknown1915 Unknown1916 Unknown1917 Unknown1918 Unknown1919 Unknown1920 Unknown1921 Unknown1922 Unknown1923 Unknown1924 Unknown1925 Unknown1926 Unknown1927 Unknown1928 Unknown J.R. Henley (ALGA est.)1929 Unknown Mary Patrick1930 Unknown J.A. McKinnon1931 Unknown J.B. Starky1932 Unknown C.R. Bunn1933 Unknown Mrs. Roy H. Horne1934 Unknown J. Train Grey1935 A.W. Matthews Unknown1936 A.W. Matthews Unknown1937 B.V. Massie Ethel Egbert1938 J. Ben Cool Ethel Egbert1939 Unknown Unknown1940 H.G. MacDonald Unknown1941 R. Jennings Unknown1942 Unknown Unknown1943 Gordon Love Unknown1944 J.B. Starkey Unknown1945 A.J. Munro Unknown1946 Robert Ainslie Unknown1947 P.I. Cameron Mrs. Victor Kastberg1948 Bob Borland Catherine Rose1949 F.C. Smith H.C. Dalgleish1950 Les Miller Jean Wallbridge1951 Joe Welsh Mrs. John Michaels1952 Joe Welsh Louise Stempel1953 Gar Lush A.C. Aherns1954 Les Delley Mrs. John Michaels1955 Les Delley S.D. McAra1956 Harold McMahon W.M. Hannah1957 Harold McMahon J.E. Walton1958 Charles Humber Mina Lindberg1959 Charles Humber Mrs. Glen Watson1960 Dave Jones G.E. Lush1961 Dave Jones Louise Stempel1962 Ed Thomas Mrs. John Kishiuchi1963 Ed Thomas Mrs. Robert Watson1964 Bill Tait F. Walton1965 Bill Tait Marg Ward1966 Al Williams Unknown1967 Al Williams G. Watson1968 Glen Gray Unknown1969 Dr. E.G. (Jim) Skinner R.E. Stanhope1970 Tom Wood R.E. Stanhope1971 Bruce Bailey Blanche Williams1972 Bruce Bailey Blanche Williams1973 Babe McAvoy C.M. Campbell1974 Charlie Scott C.M. Campbell1975 Pat Flanagan D.B. Grant1976 Ken Laubman D.B. Grant1977 Keith Alexander B. Hembling1978 Suds Summerall B. Hembling1979 Gerry Marshall J.G. Peace1980 Ken Sharratt J.G. Peace1981 Bill Ough W.J. Siwak1982 John Higgin W.J. Siwak1983 Gerry Marshall Lola Rozsa1984 Fred Trumble Lola Rozsa1985 Russ Powell Thelma Coutts1986 Mike Seniuk Thelma Coutts1987 Richard Beavers Catherine Simper1988 Frank McBride Catherine Simper1989 Frank McBride Jean Smeland1990 Bruce Cinnamon Jean Smeland1991 Bruce Cinnamon Pat Workun1992 Wayne Petersen Pat Workun1993 Wayne Petersen Penny Manson1994 Ken Heywood Penny Manson1995 Frank Crean Corrine Wikjord1996 Dave Bohlken Corrine Wikjord1997 Rick Wood Fran Marsden1998 Jack Brooks Fran Marsden1999 Gordon Groft Fran Marsden2000 Fran Marsden (Amalgamation)2001 Bryan Nuebeker2002 Bryan Nuebeker2003 Karen Rackel2004 Varley Weisman2005 Enid Botchett2006 Les Swelin2007 Leslie Dunning2008 Leslie Dunning2009 Lonny Petersen2010 Anne Ward Neville2011 Tyrone Edwards2012 Sandra Craig2013 Sandra Craig2014 Susan MacKinnon2015 Susan MacKinnon2016 Bob McGinn


Twitter Followers

2,810

2 Team Canada high performance athletes from Alberta

9 BOYS 8 GIRLSon Team Alberta high performance program

4 Team Alberta athletes in the top 25 of the Golf Canada Order of Merit

17 Golf Fore The Cureprogram sites

10th Anniversary for

the Girls Club program in Edmonton

4,700 CN Future Links mobileclinic participants

= 1000 members

Alberta Golf members48,780Scholarships totalling

$54,000were awarded to theAlberta Golf Association Foundation

$49,511Association Surplus

1,800 Tournament Competitors

3 National Junior Golf Development Centres

396 Number of schools across Alberta actively participating in Golf In Schools

200+ Host Club & Local Volunteers

31st Edition of The Alberta Golfer Magazine

22 Trained Community Golf Coaches24 Courses Ratedor Re-Rated

550 Girls introduced togolf at 6 She Swings She Scores community events

181 18 127 9 4 36+

hole facilities

hole facilities

hole facilities

4,779 holes of golf in Alberta

Facebook Followers

1,092

Instagram Followers

843

14 — ALBERTA GOLF14 — ALBERTA GOLF


Twitter Followers

2,810

2 Team Canada high performance athletes from Alberta

9 BOYS 8 GIRLSon Team Alberta high performance program

4 Team Alberta athletes in the top 25 of the Golf Canada Order of Merit

17 Golf Fore The Cureprogram sites

10th Anniversary for

the Girls Club program in Edmonton

4,700 CN Future Links mobileclinic participants

= 1000 members

Alberta Golf members48,780Scholarships totalling

$54,000were awarded to theAlberta Golf Association Foundation

$49,511Association Surplus

1,800 Tournament Competitors

3 National Junior Golf Development Centres

396 Number of schools across Alberta actively participating in Golf In Schools

200+ Host Club & Local Volunteers

31st Edition of The Alberta Golfer Magazine

22 Trained Community Golf Coaches24 Courses Ratedor Re-Rated

550 Girls introduced togolf at 6 She Swings She Scores community events

181 18 127 9 4 36+

hole facilities

hole facilities

hole facilities

4,779 holes of golf in Alberta

Facebook Followers

1,092

Instagram Followers

843

Financial AnalysisIN 2016, ALBERTA GOLF ACHIEVED AN EXCESS OF REVENUE OVER EXPENSES OF $49,511 BEFORE AMORTIZATION. THE ONGOING COMMITMENT OF OUR BOARD AND STAFF IN ADHERING TO ALL ITEMS ADDRESSED IN OUR ANNUAL BUSINESS PLAN HAS ALLOWED US TO ACHIEVE THIS RESULT, WHILE DELIVERING A CONSISTENTLY HIGH LEVEL OF SERVICE AND VALUE TO OUR MEMBERSHIP WITH ALL PROGRAMS BEING OFFERED.

Some key changes have been made to the format and schedules of our financial statements in order to provide a more accurate picture of our revenue and expenses within each area of our business. These changes will ensure all departments remain focused on controlling costs and meeting revenue targets.

We have completed a year of internal transition at Alberta Golf and have done so while remaining on track financially. Our personnel changes are visibly evident however our financial processes and procedures are not always as clear. Our significant achievement in terms of continuity and financial stability this past year demonstrates clearly that Alberta Golf possesses a very strong financial foundation as guided by our financial policies as supported by the ongoing commitment of the volunteers who comprise our finance and risk management committee.

During 2016, there are a few additional key achievements to make note of:

• Unrestricted funds in net assets increased by $25,571 to $369,597.

• Endowment funds increased by $33,830 to $580,905.

• Working capital increased by $21,941 from $414,618 to $436,659.

2016 FINANCIAL RESULTS

The sources of funding that allow Alberta Golf to deliver programs and provide member services are as follows:

MEMBERSHIP FEES

Alberta Golf relies heavily on membership fees to deliver amateur golf programs and also deliver on our role as the Provincial Sport Association for golf. Dues for the 2016 season were $26 ($14 to Alberta Golf) for every adult golfer and $20 ($12.50 to Alberta Golf) for every junior golfer. Through our working relationship with Golf Canada we have been able to improve communication and awareness of programs with the membership. Improved messaging and communications will continue to strengthen relationships and provide a greater understanding of membership needs. Alberta Golf relies on member club support of key programs and services like CN Future Links, Golf in Schools, Golf Fore the Cure, and the Golf Canada Handicap System.

ALBERTA SPORT CONNECTION

Alberta Golf is recognized by Alberta Sport Connection (ASC) as the Provincial Sport Association for golf, which provides the organization with an annual operating grant to support programs to carry out the mandate of a PSA. ASC provides financial and consultative services through the Association Development Program. Alberta Golf’s base funding from ASC was $85,257 in 2016, remaining consistent with 2015. Other grants from ASC include the Western Canada Summer Games, Canada Summer Games and the Sport Support Grant.

CASINO

Alberta Golf is fortunate to have the opportunity to apply and secure a casino fundraiser on an 18-month cycle through the Alberta Gaming and Liquor Commission (AGLC). Funds raised through casinos can be used to offset expenses for a number of activities including but not limited to administrative costs, equipment purchases, promotional activities, rental facilities and in-province travel. Funds raised and not yet expensed can be held for future years’ expenses. A casino was held in 2015 with proceeds of $76,622. $64,627 was used within the designated expenses in 2015 and $15,108 was used in 2016.

GOLF CANADA

Each year Golf Canada provides the Provincial Golf Associations with a number of opportunities to apply for grants that fund ‘grow the game’ initiatives. Alberta Golf takes advantage of these opportunities to offset expenses incurred while carrying out programs and services in the Province. The Women’s Fund grant covers the expenses for females who are trying to certify in the Rules of Golf and Course Rating seminars. The CN Future Links grant helps to offset the costs of carrying out mobile clinics in communities across Alberta. The Coaching grant offsets expenses for full and part time Coaching services. The Handicap & Course Rating grant offsets cost associated with conducting seminars and rating golf courses.

GRASSROOTS PROGRAMS

Funding for grassroots programs like CN Future Links, Golf in Schools and Golf For the Cure comes from three sources – participation fees, national corporate sponsorships and individual donations.

HIGH PERFORMANCE (TEAM ALBERTA)

Funding for Alberta Golf’s high performance sport program comes from two sources – participation fees and an investment by Alberta Golf into the program. This investment is vital to developing top talent in the game and ensuring a bright future for golf’s next generation of heroes. Program fees for the

athletes were modified to include a lower base fee for the program itself and then a user fee approach was added to subsidize the additional expenses incurred by each athlete for travel, meal and accommodation expenses incurred.

AMATEUR CHAMPIONSHIPS

Funding for provincial amateur championships comes from three sources – player entry fees, our association contribution, as well as individual and/or corporate sponsorships. Conducting championships has been core to Alberta Golf’s mandate since its formation in 1912. Player entry fees and golf course fees remained consistent with our 2015 levels to ensure active participation at all events and to continue supporting our member clubs with the production of best in class championships.

CONTRIBUTIONS

In 2016, Alberta Golf supported charities and other golf related entities. Alberta Golf contributed $2,000 in 2016 toward initiatives conducted by the National Allied Golf Association on behalf of the Alberta golf industry. Alberta Golf also contributed $5 per player entry in the Alberta Ladies Team Classic event to the Canadian Cancer Society as part of the Golf Fore the Cure program.

On May 1, 2016, a wildfire began southwest of Fort McMurray. On May 3, it swept through the community, destroying approximately 2,400 homes and buildings and forcing the largest wildfire evacuation in Albertan history. The fire spread across approximately 1,500,000 acres before it was declared to be under control on July 5, 2016. Unfortunately, the Fort McMurray Golf Club facilities were either destroyed or suffered significant damage. Alberta Golf and Golf Canada returned the clubs membership dues totalling $9,600.

ASSETS, INVESTMENT INCOME AND ENDOWMENT FUNDS

Golf House was purchased in 2007 and the build out completed in 2008. Computers and other office equipment are upgraded and maintained regularly to provide staff with the tools needed to provide quality services. The endowment funds are invested with CIBC Wood Gundy and Alberta Sport Connection and continue to generate investment income which is used to help fund Alberta Golf programs.

FINANCIAL OUTLOOK FOR 2017 AND BEYOND

The fiscal focus of Alberta Golf is revealed in the financial mandate to develop sustainable funding as part of a commitment to achieve breakeven financial performance. A thorough breakdown of our finances was performed in 2016 in order to provide more accurate information relative to the investment being made into each program area. As we move

16 — ALBERTA GOLF

Membership Fees 49%Amateur Championships 22%Alberta Sport Connection 10%Casino, Other Grants & Interest 2%Member Programs & Services 5%Sponsorship 4%Sport Development & Grassroots and High Performance 8%

Administration & Overhead 22%Amateur Championships 35%Member Programs & Services 13%Sport Development & Grassroots and High Performance 18%Communications & Business Development 12%


forward, this breakdown of scheduled revenues and expenses will provide the board and management with detailed information with which to make informed financial decisions.

Golf House is a mortgage free office and warehouse space in Calgary and continues to be a valuable asset both in the financial health of the organization and in the sustained operations of both staff and volunteers. It is also home to the Alberta Golf Hall of Fame located in the Lola Rozsa Board Room.

Fund development is a priority of Alberta Golf and a renewed focus on sponsorship and partner agreements should result in increased revenues and sustainable funding. The fund development committee was active this past year in developing a strategy for our future in order to better share our successes with potential donors and capitalize on the significant contributions being made to society by Alberta Golf.

The Alberta Golf Board of Directors approved a $1 increase to both adult and junior membership dues for the 2017 season in order to sustain our existing programs and invest into membership services within the Province. Alberta Golf is also committed to supporting the ongoing work in the area of membership with Golf Canada in providing more value for individual members and additional support for all member facilities.

Guided by the components of our strategic plan, we are forecasting that Alberta Golf can achieve the goal of breakeven for 2017 and beyond.

Sincerely,

Augie Annicchiarico, Treasurer

Phil Berube, Executive Director/CEO

December 2016

SOURCES OF FUNDS USES OF FUNDS

18 — ALBERTA GOLF


Financial Statements

Year Ended September 30, 2016

INDEPENDENT AUDITOR'S REPORT

To the Members of Alberta Golf Association

We have audited the accompanying financial statements of Alberta Golf Association, which comprise the statement

of financial position as at September 30, 2016, and the statement of operations, cash flows and changes in net assets

for the year ended, and a summary of significant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in accordance with

Canadian accounting standards for not-for-profit organizations, and for such internal control as management

determines is necessary to enable the preparation of financial statements that are free from material misstatement,

whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit

in accordance with Canadian Auditing Standards. Those standards require that we comply with ethical requirements

and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from

material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial

statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of

material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments,

the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial

statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of

expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the

appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as

well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit

opinion.

Opinion

In our opinion, the financial statements present fairly, in all material respects, the financial position of Alberta Golf

Association as at September 30, 2016 and the results of its operations and its cash flows for the year then ended in

accordance with Canadian accounting standards for not-for-profit organizations.

Calgary, Alberta

November 29, 2016 CHARTERED PROFESSIONAL ACCOUNTANTS


20 — ALBERTA GOLF



STATEMENT OF OPERATIONS FOR THE YEAR ENDED SEPTEMBER 30, 2016

2016 2015

REVENUE

Membership fees $ 1,287,889 $ 1,372,132

Less amounts paid to Golf Canada (556,412) (599,387)

731,477 772,745

Program Revenue

Grants – Alberta Sport Connection (note 9) 152,829 173,454

Casino 15,108 64,627

Investment income – endowment funds 11,556 12,988

Sport development (Schedule 1) 101,895 118,885

Competitions (Schedule 1) 390,694 389,818

Member programs and services (Schedule 1) 72,919 30,588

745,001 790,360

Interest and other income 10,251 10,929

TOTAL REVENUE 1,486,729 1,574,034

EXPENSES

Program Expense

Sport development (Schedule 2) 257,997 278,508

Competitions (Schedule 3) 500,205 537,596

Member programs and services (Schedule 4) 191,175 208,676

949,377 1,024,780

Program Support Expenses

Communication and business development (Schedule 5) 174,904 101,156

Administration (Schedule 6) 312,937 280,914

487,841 382,070

TOTAL EXPENSES 1,437,218 1,406,850

Operational excess of revenue over expenses 49,511 167,184 Amortization (note 7) (53,633) (53,640)

Unrealized gain (loss) on investments (note 5) 17,033 (18,543)

EXCESS OF REVENUE OVER EXPENSES $ 12,911 $ 95,001

See accompanying notes to the financial statements

22 — ALBERTA GOLF


STATEMENT OF CASH FLOWS FOR THE YEAR ENDED SEPTEMBER 30, 2016

2016 2015

CASH PROVIDED BY (USED FOR):

OPERATING ACTIVITIES

Excess of revenue over expenses $ 12,911 $ 95,001

Items not affecting cash:

Amortization (note 7) 57,163 56,709

Donation recognized (note 7) (3,530) (3,069)

Unrealized loss (gains) on investments (note 5) (17,033) 18,543

49,511 167,184

Net change in non-cash working capital 107,407 (137,163)

Changes in non-current liabilities (18,638) 8,926

Change in restricted cash (15,108) 11,995

123,172 50,942

INVESTING ACTIVITIES

Capital assets additions (note 4) (20,611) (14,755)

Changes in marketable securities 26,887 (29,196)

6,276 (43,951)

INCREASE IN CASH 129,448 6,991

CASH Beginning of year 535,442 528,451

End of year $ 664,890 $ 535,442




STATEMENT OF CHANGES IN NET ASSETS FOR THE YEAR ENDED SEPTEMBER 30, 2016

2016 2015

Unrestricted Capital Assets Endowment

Fund Fund Fund Total Total

Balance, beginning of the year $ 344,026 $ 853,768 $ 547,075 $ 1,744,869 $ 1,654,326

Excess of revenue

over expenses 46,182 (57,163) 23,892 12,911 95,001

Investment in capital assets (20,611) 20,611 - - -

Funds used in programs - - - - -

Unrealized (loss) gain on

marketable securities - - 7,165 7,165 (7,881)

Interest on endowment funds - - 2,773 2,773 3,423

Net change in the year 25,571 (36,552) 33,830 22,849 90,543

Balance, end of the year $ 369,597 $ 817,216 $ 580,905 $ 1,767,718 $ 1,744,869


24 — ALBERTA GOLF

ALBERTA GOLF ASSOCIATION NOTES TO THE FINANCIAL STATEMENTS

SEPTEMBER 30, 2016

1. NATURE OF THE ASSOCIATION AND BASIS OF PRESENTATION

The Alberta Golf Association (“Alberta Golf") is a not-for-profit association founded in 1912 and established under

the Societies Act through an amalgamation with the Alberta Ladies Golf Association on January 1, 2000.

Recognized as the provincial sport organization by the Alberta Sport Connection (“ASC”), Alberta Golf is

committed to realizing the positive impacts of golf on individuals and communities across Alberta.

As a not-for-profit organization, Alberta Golf does not pay income taxes. In order to maintain its status as a

not-for-profit organization under the Income Tax Act (the “Act”), Alberta Golf must meet certain requirements

within the Act. In the opinion of management, these requirements have been met.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

These financial statements are prepared in accordance with Canadian accounting standards for not-for-profit

organizations (“ASNFPO”) and reflect the following significant accounting policies.

a) Revenue Recognition:

Alberta Golf follows the deferral method of accounting for contributions, as follows:

Membership fees are recognized as revenue proportionately over the fiscal year to which they relate. Membership

fees received in advance of the membership year to which they relate are recorded as deferred revenue.

Unrestricted contributions are recognized as revenue when received or receivable, if the amount to be received can

be reasonably estimated and collection is reasonably assured.

Unrestricted investment income is recognized as revenue in operations when earned.

Restricted contributions, for which the related expenses have not yet been incurred, are deferred until the related

expenses are incurred.

Unrestricted endowment fund income is recognized as revenue in operations when expended on programs and

services.

Restricted endowment fund income is recognized as an increase to net assets.

Included in membership fees collected, are amounts collected on behalf of, and remitted, to Golf Canada.

b) Capital assets:

Capital assets are recorded at cost. Rates and bases of amortization applied to write off the cost of the capital assets

over their estimated useful lives are as follows:

Office premises 5% declining balance

Office and field equipment 20% declining balance

Computers and electronics 25% declining balance

c) Cash and cash equivalents:

Alberta Golf considers all balances with banks and highly liquid investments with maturities of three months or less

at the date of purchase to be cash and cash equivalents.

d) Contributed materials and services:

Volunteers contribute a substantial number of hours each year to assist Alberta Golf in fulfilling its mandate. The

value of contributed services is not recognized in these financial statements. Contributed materials, the value of

which can be reasonably estimated, are recorded in the financial statements at that estimated value.



SEPTEMBER 30, 2016

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

e) Financial Instruments:

Financial instruments are recorded at fair value on initial recognition. Equity instruments that are quoted in an active

market are subsequently recorded at fair value. All other financial instruments are recorded at cost or amortized cost,

unless management has elected to record at fair value. Alberta Golf has not elected to carry any such financial

instruments at fair value.

With respect to financial assets measured at cost or amortized cost, Alberta Golf recognizes in the statement of

operations, an impairment loss, if any, when it determines that a significant adverse change has occurred during the

period in the expected timing or amount of future cash flows. When the extent of impairment of a previously written

down asset decreases and the decrease can be related to an event occurring after the impairment was recognized, the

previously recognized impairment loss is reversed in the statement of operations in the period the reversal occurs.

f) Foreign currency transactions:

Monetary assets (investments) of Alberta Golf which are denominated in foreign currencies are translated at year

end exchange rates. Investment revenue and expenses are translated at the rates of exchange in effect at the

respective transaction dates. The resulting foreign exchange gains and losses are recorded as income in the period

realized for unrestricted assets and as an increase or decrease in funds for restricted assets.

g) Use of accounting estimates:

The preparation of financial statements in conformity with ASNFPO requires management to make estimates and

assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and

liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the

reporting period.

Specific items subject to estimation include amortization of capital assets and provision for allowance for doubtful

accounts.

These estimates are subject to measurement uncertainty and the effects of changes in these estimates in future

periods could be significant.

3. DEFERRED CASINO REVENUE

Pursuant to the requirements set out by the Alberta Gaming and Liquor Commission (“AGLC”), funds raised

through casinos and not yet expensed have been designated as being held for future years’ expenses of the following

types:

(a) Administrative costs (maximum 10%)

(b) Awards, trophies and plaques

(c) Equipment purchase and repair for Junior programs

(d) Promotional activities

(e) Rental facilities for Junior tournaments and camps

(f) In-province travel

(g) Volunteer conferences, seminars and training

Details of deferred revenue are as follows:

2016 2015

Opening deferred casino revenue $ 15,314 $ 3,319

Casino proceeds - 76,622

15,314 79,941

Designated expenses (15,108) (64,627)

Deferred casino revenue $ 206 $ 15,314

26 — ALBERTA GOLF


SEPTEMBER 30, 2016

4. CAPITAL ASSETS

Office Office Computers & Field

2016 Premises Equipment Electronics Equipment Total

Cost at beginning of year $ 1,167,180 $ 204,957 $ 50,122 $ 103,402 $ 1,525,661

Additions 4,208 1,518 14,885 - 20,611

Accumulated depreciation (415,076) (188,691) (39,444) (85,845) (729,056)

Net book value at end of year $ 756,312 $ 17,784 $ 25,563 $ 17,557 $ 817,216

Office Office Computers & Field

2015 Premises Equipment Electronics Equipment Total

Cost at beginning of year $ 1,167,180 $ 204,957 $ 45,570 $ 93,199 $ 1,510,906

Additions - - 4,552 10,203 14,755

Accumulated depreciation (375,270) (184,246) (30,922) (81,455) (671,893)

Net book value at end of year $ 791,910 $ 20,711 $ 19,200 $ 21,947 $ 853,768

The office premises are held as collateral for a line of credit from Canadian Western Bank (note 10).

5. FUND ACCOUNTING

a) Capital Assets fund:

Capital expenditures are allocated to Office Premises, Office Equipment, Computer and Electronics or Field

Equipment.

b) Endowment Funds:

E. Lynne Cox Memorial Fund (original endowment of $20,000 contributed in 1995)

Provides program funding for junior girls golf annually.

Arthur P. and E. Lynne Cox Memorial Fund (original endowment of $100,000 was accumulated from 1995 – 1997)

Provides program funding for the Alberta Montana Junior Ryder Cup Teams.

General Endowment Funds

Investment income from Alberta Golf General Endowment Funds is intended for Alberta Golf programs and

services.

Title to investments with respect to the E. Lynne Cox Memorial Fund and the General Endowment Fund – is held, in

perpetuity, by the ASC. Income on these investments may be paid to Alberta Golf on request, providing that the

project description falls within the purpose for which the funds are maintained.

The marketable securities managed by CIBC Wood Gundy are recorded at cost and unrealized gains are recorded to

reflect the fair market value of the securities. The carrying value of the marketable securities, managed by the ASC

on behalf of Alberta Golf, approximates their fair market value.



SEPTEMBER 30, 2016

5. FUND ACCOUNTING (continued)

ENDOWMENT FUNDS

Used in Gain (loss) on

2015 Interest Programs Investments 2016

Funds Held by ASC

E. Lynne Cox Memorial Fund $ 20,937 $ 171 $ - $ - $ 21,108

General Endowment Funds 82,241 672 - - 82,913

103,178 843 - - 104,021

Funds Held by CIBC Wood Gundy

Arthur P. & E. Lynne Cox Memorial 131,432 2,602 - 7,165 141,199

General Endowment Funds 312,465 6,187 - 17,033 335,685

443,897 8,789 - 24,198 476,884

Total Endowment Funds $ 547,075 $ 9,632 $ - $ 24,198 $ 580,905

6. DEFERRED REVENUE

Deferred revenue consists of:

2016 2015

Deferred membership fees $ 46,502 $ 36,947

Deferred grant revenue - Alberta Sport Connection (note 9) 20,611 34,883

Total $ 67,113 $ 71,830

7. DEFERRED DONATIONS

In 2009, Alberta Golf received a donation of $100,000 from Lola Rozsa for the construction of its new office

building. Recognition of this revenue will occur over the life of the building and is included in the calculation of

depreciation of the building. Depreciation was calculated as follows:

2016 2015

Depreciation building $ 39,806 $ 41,679

Depreciation other assets 17,357 15,030

57,163 56,709

Deferred donation recognized (3,530) (3,069)

Depreciation expense $ 53,633 $ 53,640

The remaining amount of deferred donation was calculated as follows:

2016 2015

Deferred donations, beginning of the year $ 70,592 $ 73,661

Donation recognized (3,530) (3,069)

Deferred donations, end of the year $ 67,062 $ 70,592

28 — ALBERTA GOLF


SEPTEMBER 30, 2016

8. COMMITMENTS

Alberta Golf has existing lease agreements for two vehicles. The leases expire in 2018. Monthly lease payments

under these agreements total $896. Payments may be reduced due to personal use of vehicles by employees.

Future operating lease payments are as follows:

2017 $ 10,750

2018 4,948

Total $ 15,698

9. GRANT REVENUE

During the year, Alberta Golf received grants totaling $138,557 (2015 - $184,463) from the ASC and $20,611 in

grants was deferred to 2017. This is comprised of the following amounts:

2016 2015

Annual Association Funding $ 85,257 $ 84,513

International Sport Exchange Grant - 66,500

Sport Support Grant 32,500 16,250

Western Canada Summer Games 1,800 7,200

Canada Summer Games 19,000 5,000

Donation Fund - 5,000

138,557 184,463

Deferred Grant Revenue from prior year 34,883 23,874

Canada Summer Games deferred (note 6) (4,992) (5,000)

Sport Support Grant deferred (note 6) (15,619) (16,250)

International Sport Exchange Grant deferred (note 6) - (13,633)

Total $ 152,829 $ 173,454

10. LINE OF CREDIT

Alberta Golf has a $325,000 line of credit with the Canadian Western Bank. The line of credit bears interest at a rate

that is the greater of prime plus 1.65% or 4.35%. As at September 30, 2016, the interest rate is 4.35%. It was

undrawn as at September 30, 2016. The line of credit is subject to review at any time by the Bank. The next annual

review is scheduled for completion by January 31, 2017. The line of credit is secured by a general security

agreement over "all present and after acquired assets of Alberta Golf" and a first fixed charge of the office premises

with a carrying value of $756,312.

11. RELATED PARTY TRANSACTIONS

Alberta Golf’s related parties include directors and management. In addition, directors and management, or their

related parties, may hold positions in other entities that result in them having significant influence over the strategic

operating, financing and investing activities of these entities. The Alberta Golf Association Foundation (the

“Foundation”) provides scholarships on an annual basis for all eligible Albertans. The Foundation president is an

invited guest at all Alberta Golf board meetings.

All transactions with related parties were in the normal course of operations. Transactions between related parties

are measured at the exchange amount, which is the amount of consideration established and agreed to by the related

parties and which are similar to those negotiable with third parties.

Included in accounts payable and accrued liabilities is $235 payable to the Alberta Golf Association Foundation.

During the year, Alberta Golf purchased a leased vehicle for $27,776 and subsequently sold the vehicle for proceeds

of $23,262 to a member of management. Incurred losses of $4,514 were offset by a reduction in commitments (note

8) of $9,789.



SEPTEMBER 30, 2016

12. FINANCIAL RISK MANAGEMENT

Alberta Golf is exposed to financial risks through its financial instruments.

Market Risk:

Alberta Golf’s assets include significant amounts of marketable securities. These assets are externally managed. The

value of marketable securities changes in concert with the business, financial condition, management and other

relevant factors affecting the underlying organization that issued the securities. In addition, general economic

conditions of the markets, in which such organizations operate, change, thereby exposing Alberta Golf to

fluctuations in the value of investments. The fair market value of marketable securities at September 30, 2016 is

$476,884 (2015 - $443,897). A sensitivity analysis shows that a change in 1% of equity prices will result in a $4,769

change in net assets.

Credit Risk:

Alberta Golf is exposed to credit risk to the extent that club members may experience financial difficulty and would

be unable to meet their obligations. Alberta Golf has a large number of club members, which minimizes the

concentration of credit risk.

Interest rate risk:

Interest rate risk refers to the risk that the fair value of financial instruments or future cash flows associated with the

instruments will fluctuate due to changes in interest rates. The exposure of Alberta Golf to interest rate risk arises

from its interest bearing assets.

Alberta Golf manages its exposure to interest rate risk on its cash and cash equivalents and short term investments

by maximizing interest income earned on excess funds while maintaining the liquidity to conduct operations on a

day to day basis. Fluctuations of market rates of interest on cash and cash equivalents and short-term investments do

not have a significant impact on Alberta Golf’s results of operations.

The objective of Alberta Golf with respect to fixed income investments is to ensure the security of principal amounts

invested, provide a high degree of liquidity, and achieve a satisfactory investment return.

Alberta Golf manages the interest rate risk exposure on its fixed income investments by using a laddered portfolio

with varying terms to maturity and minimizing the average term to maturity.

Currency risk:

Currency risk refers to the risk that the fair value of financial instruments or future cash flows associated with the

instruments will fluctuate relative to the Canadian dollar due to changes in foreign exchange rates.

The functional currency of Alberta Golf is the Canadian dollar. Alberta Golf infrequently transacts in U.S. and

foreign currencies.

Alberta Golf invests a portion of its investment portfolio in foreign equities. Alberta Golf mitigates its currency risk

exposure by placing limits on the proportion of portfolio investments in foreign currencies.

Liquidity Risk:

Liquidity risk is the risk that Alberta Golf will not be able to meet a demand for cash or fund its obligations as they

become due.

Alberta Golf meets its liquidity requirements by monitoring cash flows from operations and anticipating investing

and financing activities. Alberta Golf has a short term secured bank facility of up to $325,000. At September 30,

2016 and 2015, the bank facility had not been drawn upon.

13. COMPARATIVE FIGURES

The comparative figures have been reclassified, where necessary, for consistency with current year disclosure.

30 — ALBERTA GOLF


SEPTEMBER 30, 2016

SCHEDULE OF PROGRAM REVENUE FOR THE YEAR ENDED SEPTEMBER 30, 2016

SCHEDULE 1

2016

Sport Competitions Member Programs Total Development and Services

Entry fees and registrations $ 69,342 $ 309,709 $ 546 $ 379,597

Sponsorships - 62,633 - 62,633

Grants and other 32,553 18,352 72,373 123,278

Total $ 101,895 $ 390,694 $ 72,919 $ 565,508

2015

Sport Competitions Member Programs Total Development and Services

Entry fees and registrations $ 89,919 $ 323,961 $ - $ 413,880

Sponsorships - 55,000 14,500 69,500

Grants and other 28,966 10,857 16,088 55,911

Total $ 118,885 $ 389,818 $ 30,588 $ 539,291

SCHEDULE OF SPORT DEVELOPMENT EXPENSES

SCHEDULE 2

2016 2015

Salaries and benefits $ 69,360 $ 86,757

Contract fees 68,230 86,737

Travel 47,979 40,374

Facility and equipment fees 29,201 24,169

Clothing 13,852 17,460

Food and beverage 11,605 12,162

Registrations 9,113 8,219

Grants and donations 6,290 780

Team member recognition award 2,367 1,850

Total $ 257,997 $ 278,508



SEPTEMBER 30, 2016

SCHEDULE OF COMPETITIONS EXPENSES

SCHEDULE 3

2016 2015

Facility and equipment fees $ 119,477 $ 124,143

Salaries and benefits 104,375 112,693


Competitor participation awards 56,143 43,259

Travel 46,945 45,552

Competitor performance awards 32,698 51,846


Signs and banners 15,304 19,841

Office and courier 13,330 16,065

Clothing 8,492 11,632

Media day 8,347 2,940

Grants and other 809 3,921

Total $ 500,205 $ 537,596

SCHEDULE OF MEMBER PROGRAMS AND SERVICES EXPENSES

SCHEDULE 4

2016 2015



Travel 28,068 52,821

Printing, postage & telephone 27,734 7,759

Clothing 17,856 19,267


Facility and equipment 6,737 8,000

Grants & other 6,273 10,440

Miscellaneous members services 2,625 18,961

Total $ 191,175 $ 208,676

32 — ALBERTA GOLF


SEPTEMBER 30, 2016

SCHEDULE OF COMMUNICATIONS AND BUSINESS DEVELOPMENT EXPENSES

SCHEDULE 5

2016 2015


Travel 27,245 25,437

Registrations 23,935 10,627


Printing, postage & telephone 8,289 2,726


Facility fee 1,670 1,739

Miscellaneous members services 886 1,184

Total $ 174,904 $ 101,156

SCHEDULE OF ADMINISTRATION AND OVERHEAD EXPENSES

SCHEDULE 6

2016 2015


Contract services 42,000 60,000

Legal and audit 25,000 25,302

Insurance 19,184 20,789

Telephone 15,791 14,430

Building maintenance and repairs 14,781 16,892

Property taxes 14,275 10,238

Information technology 12,134 8,701

Travel 10,671 7,304

Office supplies and printing 9,289 20,168

Delivery costs 7,482 3,406

Utilities 5,665 6,024

Management fees 4,696 4,714

Loss on termination of lease (note 11) 4,514 -

Bad debts 1,493 8,211

Total $ 312,937 $ 280,914


Competitors in the 2016 Sun Life Financial Alberta Men’s Amateur Championship were met with nearly perfect conditions at the spectacular Innisfail Golf Club

Foundation President’s Report

Tom ZariskiPresidentAlberta Golf Foundation

THE ALBERTA GOLF ASSOCIATION FOUNDATION, ESTABLISHED UNDER THE ALBERTA SOCIETIES ACT IN 1994, CONTINUES TO GROW FOR THE BENEFIT OF ALL ALBERTA STUDENTS GRADUATING AND GOING ON TO POST SECONDARY STUDIES AND THE NEXT GENERATION OF GOLFERS THROUGH POST SECONDARY SCHOLARSHIP FUNDING AND RESEARCH ACTIVITIES.

In 2013, the Foundation adjusted its Bylaws to enable the start of a more supportive membership base. Eligibility is open to the general public, to male and female Alberta residents of all ethnic and cultural backgrounds, is representative of the larger community and not dependent on an individual’s relationship with any particular sport or individual. Membership is voluntary with names and contract information held within a central registry. There are no membership fees but a donation to the Foundation is suggested for each member. On behalf of the Foundation in 2016, the Scholarship Committee was fortunate to award 43 Scholarships totaling $54,000. These funds were acquired from our many patrons and half of our 2014 Casino fundraising initiative. The Casino funds are distributed over two years to ensure an equal allocation to the scholarship and research programs.

What an incredible organization! When we are asked to donate to any noble cause, charity, or non-profit we always ask “what are the administration fees”. Sadly we have seen some non-reputable organizations spend inordinate amounts of their donations paying themselves first and the cause second. I am proud to say the AGAF spends very little of its funds on administration and related costs and the vast majority on its main goal of scholarships. The primary reason for this is of course the many dedicated volunteers who take time out of their busy lives to help the Foundation by serving on the Board of Directors, so thank you to Ted Thresher the past president, Susan MacKinnon, secretary, Neil Little, treasurer, Lyle Cuthbert, Bill Thomas, Tyrone Edwards, Mike Gendron and Dunc Mills. A special thank you also to the Executive Director of AGAF Phil Berube and his staff for all of the work he and they do on behalf of the Foundation.

Also I would like to thank those who assisted in the Casino Fundraiser, the Scholarship Committee, the Foundation Members and the Patrons for their contributions to ensure another successful year for post-secondary scholarships and research in Alberta.

THANK YOU TO OUR PATRONS: Charles C. Reid Foundation

Frank Lindsay Memorial Foundation

McLennan Ross Junior Golf Tour presented by Crowe McKay

R.E. Courage Memorial Fund

Christa Spahmann Memorial

Lola Rozsa

Jeff Llewellyn Memorial Fund

Sun Life Financial

Bob Rintoul Memorial Fund

2016 SCHOLARSHIP RECIPIENTS

Alissa Kuhn - University of Lethbridge

Allan Pruss - University of Jamestown

Amanda Sha - University of Alberta

Andrew Chelack - Univeristy of Calgary

Andrew Harrison - University of British Columbia

Barrett Belland - MacEwan University

Brandon Murphy - Univeristy of Calgary

Brendan Kuny - University of Alberta

Bria Jansen - Troy University

Carolyn Lee - University of British Columbia

Celine Copeland - Mount Royal University

Claire Emery - University of British Columbia

Conaire Kehoe - University of British Columbia

Courtney Dickson - University of Lethbridge

Dalton Ronan - University of Alberta

Daria Leidenius - Holland College

Elliot Saive - University of Alberta

Erin Martens - Sonoma State University

Hamzah Naeem - Univeristy of Calgary

Heather Gisi - University of Lethbridge

Jack Pengelly - University of Calgary

Jack Wood - University of British Columbia

Jolene Freerksen - Southern Wesleyan University

Julie Kuhn - University of Alberta

Kat Kennedy - University of British Columbia

Kate Martens - University of Victoria

Katie Benoit - University of Lethbridge

Kevin Gfrerer - Golf Academy of America - San Diego

Lindsay Almberg - University of Alberta

Luke Scanlon - Mount Royal University

Mackenzie Walker - University of British Columbia

Melanie Murchison - University of Victoria

Michael Pruss - University of Jamestown

Nathan Nobert - University of Alberta - Augustana Campus

Patrick Gobran - Longwood University

Peter Keith - University of Alberta

Quinn Ceplis - University of Calgary

Rachel Wiebe - MacEwan University

Scott McNichol - University of Calgary

Shaye Leidenius - Red Deer College

Sydney Weber - University of British Columbia

Tyler Saunders - University of Nevada - Reno

Tyler Vandermeer - University of Alberta

34 — ALBERTA GOLF


ALBERTA GOLF ASSOCIATION FOUNDATION

Financial Statements

Year Ended September 30, 2016

INDEPENDENT AUDITOR'S REPORT

To the Members of Alberta Golf Association Foundation

We have audited the accompanying financial statements of Alberta Golf Association Foundation, which comprise the

statement of financial position as at September 30, 2016, and the statements of operations, cash flows and changes in

net assets for the year then ended, and a summary of significant accounting policies and other explanatory

information.

Management's Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in accordance with

Canadian accounting standards for not-for-profit organizations, and for such internal control as management

determines is necessary to enable the preparation of financial statements that are free from material misstatement,

whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit

in accordance with Canadian Auditing Standards. Those standards require that we comply with ethical requirements

and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from

material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial

statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of

material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments,

the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial

statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of

expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the

appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as

well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit

opinion.

Opinion

In our opinion, the financial statements present fairly, in all material respects, the financial position of Alberta Golf

Association Foundation as at September 30, 2016 and its operations and its cash flows for the year then ended in

accordance with Canadian Accounting Standards for not- for- profit organizations.

Calgary, Alberta

November 29, 2016 CHARTERED PROFESSIONAL ACCOUNTANTS

1

36 — ALBERTA GOLF


38 — ALBERTA GOLF


STATEMENT OF OPERATIONS FOR THE YEAR ENDED SEPTEMBER 30, 2016

2016 2015

REVENUE Casino revenue (note 5) $ 36,933 $ 45,448

Scholarships – not tax receipted 11,193 9,708

General – not tax receipted 5,393 6,000

General – tax receipted 2,035 6,490

Scholarships – tax receipted 2,000 4,000

Membership fees - 510

57,554 72,156

EXPENSES Scholarships and bursaries 48,000 56,500

General and administrative 6,073 5,133

Casino expense 933 6,449

55,006 68,082

EXCESS OF REVENUE OVER EXPENSES $ 2,548 $ 4,074




STATEMENT OF CASH FLOWS FOR THE YEAR ENDED SEPTEMBER 30, 2016

2016 2015

OPERATING ACTIVITIES Excess of revenue over expenses $ 2,548 $ 4,074

Changes in non-cash working capital:

Changes in accounts receivable and accounts payable (2,274) 28

Changes in non-current deferred casino revenue (36,182) 41,950

Changes in restricted cash 39,527 (45,795)

Endowment scholarships paid (6,000) -

(4,929) (3,817)

Cash flow used by operating activities (2,381) 257

INVESTING ACTIVITY Changes in investments - 3,900

INCREASE (DECREASE) IN CASH FLOW (2,381) 4,157

CASH Beginning of year 7,037 2,880

End of year $ 4,656 $ 7,037


40 — ALBERTA GOLF


STATEMENT OF CHANGES IN NET ASSETS FOR THE YEAR ENDED SEPTEMBER 30, 2016

2016 2015

Unrestricted Restricted Endowment

Fund Fund Fund Total Total

Net assets – beginning of year $ 3,550 $ 30 $ 276,801 $ 280,381 $ 270,296

Donations 9,433 48,126 - 57,559 76,549

Membership fees - - - - 510

Interfund transfer (67) 67 - - -

Investment income - - 9,220 9,220 9,830

Scholarships (48,000) (6,000) (54,000) (65,500)

Disbursements (7,010) (7,010) (11,585)

Gain and management fees 225 225 281

Net assets – end of year $ 5,906 $ 223 $ 280,246 $ 286,375 $ 280,381




STATEMENT OF CHANGES IN UNRESTRICTED NET ASSETS YEAR ENDED SEPTEMBER 30, 2016

2016 2015

Unrestricted donations and membership fees $ 9,433 $ 13,003

Transfer from restricted fund (67) 3,856

General expenses (7,010) (11,585)

2,356 5,274

Unrestricted funds, beginning of year 3,550 (1,724)

Unrestricted funds, end of year $ 5,906 $ 3,550

STATEMENT OF CHANGES IN RESTRICTED FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2016

Balance Donations Scholarships Balance

Beginning and Interfund Investment and End

of Year Transfers Income Disbursements of Year

Scholarships and grants:

Casino scholarships $ (826) $ 36,000 $ - $ (36,000) $ (826)

Charles C. Reid (139) 9,193 - (9,000) 54

McLennan Ross - 2,000 - (2,000) -

Sun Life Financial - 1,000 - (1,000) -

Mike Bower 183 - - - 183

Scholarship Funds:

Turf Project 812 - - - 812

Total restricted scholarships and funds $ 30 $ 48,193 $ - $ (48,000) $ 223

STATEMENT OF CHANGES IN RESTRICTED FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2015

Balance Donations Scholarships Balance

Beginning and Interfund Investment and End

of Year Transfers Income Disbursements of Year

Scholarships and grants:

Casino scholarships $ (826) $ 40,000 $ - $ (40,000) $ (826)

Charles C. Reid 61 9,800 - (10,000) (139)

McLennan Ross - 4,000 - (4,000) -

Sun Life Financial - 1,000 - (1,000) -

Roger Gilett - 500 - (500) -

Mike Bower 183 - - - 183

Scholarship Funds:

Turf Project 1,812 - - (1,000) 812

Total restricted scholarships and funds $ 1,230 $ 55,300 $ - $ (56,500) $ 30


42 — ALBERTA GOLF


STATEMENT OF CHANGES IN ENDOWMENT FUNDS FOR THE YEAR ENDED SEPTEMBER 30, 2016

Balance Donations Scholarships Gain and Balance

Beginning and Interfund Investment and Management End

of Year Transfers Income Disbursements fees of Year

Lola Rozsa $ 55,598 $ - $ 1,852 $ (1,500) $ 45 $ 55,995

Jeff Llewellyn 54,774 - 1,824 (1,000) 45 55,643

Bob Rintoul 51,020 - 1,699 (1,000) 41 51,760

Christa Spahmann 47,001 - 1,566 (1,000) 38 47,605

Frank Lindsay 41,644 - 1,387 (1,000) 34 42,065

R.E. Courage 26,764 - 892 (500) 22 27,178

Total endowment funds $ 276,801 $ - $ 9,220 $ (6,000) $ 225 $ 280,246

STATEMENT OF CHANGES IN ENDOWMENT FUNDS

FOR THE YEAR ENDED SEPTEMBER 30, 2015

Balance Donations Scholarships Gain and Balance

Beginning and Interfund Investment and Management End

of Year Transfers Income Disbursements fees of Year

Lola Rozsa $ 55,524 $ - $ 2,016 $ (2,000) $ 58 $ 55,598

Jeff Llewellyn 53,766 1,000 1,952 (2,000) 56 54,774

Bob Rintoul 50,148 - 1,820 (1,000) 52 51,020

Christa Spahmann 43,478 3,900 1,578 (2,000) 45 47,001

Frank Lindsay 41,110 - 1,492 (1,000) 42 41,644

R.E. Courage 26,764 - 972 (1,000) 28 26,764

Total endowment funds $ 270,790 $ 4,900 $ 9,830 $ (9,000) $ 281 $ 276,801



ALBERTA GOLF ASSOCIATION FOUNDATION NOTES TO THE FINANCIAL STATEMENTS

SEPTEMBER 30, 2016

1. NATURE OF THE BUSINESS AND BASIS OF PRESENTATION

The Alberta Golf Association Foundation (“the Foundation”) is a not-for-profit association organized to provide

scholarships to Albertans for post-secondary education and fund research projects relating to golf and golf facilities.

The Foundation was established under the Societies Act on February 10, 1994 with active operations commencing

October 1, 1995.

As the Foundation is registered as a charitable organization authorized to issue donation receipts for income tax

purposes under the Income Tax Act (“the Act”), the Foundation does not pay taxes on its net revenue. In order to

maintain its status as a charitable organization under the Act, the Foundation must meet certain requirements within

the Act. In the opinion of management, these requirements have been met.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

These financial statements are prepared in accordance with Canadian accounting standards for not-for-profit

organizations (“ASNFPO”) and reflect the following significant accounting policies.

a) Revenue Recognition

The Foundation follows the deferral method of accounting for contributions, as follows:

Unrestricted contributions are recognized as revenue when received or receivable, if the amount to be received can

be reasonably estimated and collection is reasonably assured.

Restricted contributions are recognized when the externally imposed restrictions are fulfilled.

Endowment contributions are recognized as a direct increase in net assets when received.

b) Cash

Cash includes unrestricted cash on deposit.

c) Contributed services

Volunteers contribute a substantial number of hours each year to assist the Foundation in fulfilling its mandate.

Because of the difficulty of determining their fair value, contributed services are not recognized in the financial

statements.

d) Financial Instruments

Financial instruments are recorded at fair value on initial recognition. Equity instruments that are quoted in an active

market are subsequently recorded at fair value. All other financial instruments are subsequently recorded at

amortized cost, unless management has elected to record at fair value. The Foundation has not elected to carry any

such financial instruments at fair value.

With respect to financial assets measured at cost or amortized cost, the Foundation recognizes in the statement of

operations an impairment loss, if any, when it determines that a significant adverse change has occurred during the

period in the expected timing or amount of future cash flows. When the extent of impairment of a previously written

down asset decreases and the decrease can be related to an event occurring after the impairment was recognized, the

previously recognized impairment loss is reversed in the statement of operations in the period the reversal occurs.

e) Use of accounting estimates

The preparation of financial statements in conformity with ASNFPO requires management to make estimates and

assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and

liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the

reporting period.

44 — ALBERTA GOLF


SEPTEMBER 30, 2016

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

e) Use of accounting estimates (continued)

Specific items subject to estimation include potential impairment of investments.

These estimates are subject to measurement uncertainty and the effects of changes in these estimates in future

periods could be significant.

3. INVESTMENTS

2016 2015

Cash $ 17,469 $ 11,254

Fixed income investments 264,874 261,643

Total $ 282,343 $ 272,897

Fixed income investments are invested in government and corporate bonds and entirely denominated in Canadian

dollars.

4. RESTRICTED SCHOLARSHIP FUNDS AND GRANTS

The restricted net assets are represented by the following assets:

2016 2015

Cash $ - $ 3,934

Investments 280,469 272,897

Total $ 280,469 $ 276,831

All restricted net assets are subject to externally imposed restrictions. These external restrictions stipulate that the

funds be used as follows:

a) Bob Rintoul Scholarship

In 2012, Calgary entrepreneur and philanthropist, Mr. Bob Rintoul provided a $50,000 endowment to the

Foundation to provide a lasting scholarship legacy. Investment income from the endowment fund is utilized to

provide post-secondary scholarships each year to southern Alberta area students. In 2016, a $1,000 scholarship was

awarded.

b) Charles C. Reid Memorial Foundation Scholarship

In 2016, scholarships totaling $9,000 were awarded to students pursuing post-secondary degrees. This program is

funded by the Estate of Charles C. Reid, formerly an enthusiastic patron of golf from Banff.

c) Christa Spahmann Memorial Scholarship

Christa was fun loving, hardworking and an extremely good athlete. She was liked by all around and always had a

smile on her face. The recipient of the Christa Spahmann Memorial Scholarship will display these qualities and

preference will be given to a southern Alberta female pursuing a post-secondary education. Funds for this

scholarship are raised through the Christa Spahmann Memorial Tournament and contributed to the Foundation on an

annual basis. In 2016, a $1,000 scholarship was awarded.



SEPTEMBER 30, 2016

4. RESTRICTED SCHOLARSHIP FUNDS AND GRANTS (continued)

d) Frank Lindsay Foundation Grant

In 2008, an agreement was made with the Frank Lindsay Foundation to contribute an annual grant to sponsor the

Alberta Bantam Championship. Subsequent to the signing of this agreement a Canada Revenue Agency challenge

resulted in the funds being built into a scholarship endowment fund. In 2016, a $1,000 scholarship was awarded.

e) Jeff Llewellyn Scholarship

In 2013, the Foundation received a generous endowment of $51,800 to honor the memory of Jeff Llewellyn. The

endowment was setup through his employer, MNP LLP. Jeff Llewellyn was an avid golfer who was dedicated to

mentoring youth. In his memory, the Foundation will award a minimum $1,000 scholarship annually, from the

investment income of the endowment, to students pursuing a post-secondary education in the area of Sports

Administration with an emphasis on those pursuing Bachelor of Commerce, Economics, or Business Management

degrees. In 2016, a $1,000 scholarship was awarded.

f) Lola Rozsa Memorial Golf Scholarship & Bursary (original Endowment of $50,000 contributed in 1999)

Affectionately nicknamed the “Grandmother of Calgary Golf” by local media, Lola dedicated herself to the

promotion of the game, serving on the Calgary, Alberta and Canadian ladies golf associations. In 1999, Lola Rozsa

donated a $50,000 endowment to the Foundation to establish an annual post-secondary scholarship and bursary

award program as a perennial gift to the game she loved. Investment income from the endowment fund provides

annual post-secondary scholarships. In 2016, two $750 scholarships were awarded.

g) McLennan Ross Sun Junior Golf Tour Scholarship

In 2016, two scholarships of $1,000 were awarded to students who have participated in the McLennan Ross Sun

Junior Golf Tour and are now pursuing post-secondary degrees. Program funding is provided by the law firm,

McLennan Ross, the title sponsor of this Junior Tour.

h) Mike Bower Memorial Scholarship

Mike Bower started playing the game of golf at age 11 and by the conclusion of his junior career would capture two

consecutive Alberta Junior Championships. Donations to the fund are accepted from family and friends annually.

i) R.E. Courage Memorial Scholarship

The family of R.E. “Dick” Courage created a scholarship endowment to honour the legacy of a sportsman that

contributed greatly to his community. Funds for the endowment were raised by family and friends through the

staging of annual golf tournaments. Investment income from the endowment fund provides annual post-secondary

scholarships. In 2016, a $500 scholarship was awarded.

j) Sun Life Financial Scholarship

Sun Life Financial is a long time sponsor of the Alberta Men’s and Women’s Amateur Golf Championships. This

annual $1,000 scholarship is awarded to an Alberta resident pursuing a post-secondary education.

In 2008, Sun Life Financial who is the title sponsor of the Alberta Men’s and Women’s Amateur Golf

Championship and the Alberta Golf Association decided to offer an annual $1,000 scholarship from proceeds of the

championships. This scholarship was issued and a transfer of funds made from the Alberta Golf Association to the

Foundation prior to the year end of September 30, 2016.

46 — ALBERTA GOLF


SEPTEMBER 30, 2016

4. RESTRICTED SCHOLARSHIP FUNDS AND GRANTS (continued)

l) Turf Project Fund

The Alberta Golf Association Turfgrass Management Scholarship is awarded to students pursuing turfgrass

management education. Monies in the Turf Project Fund are raised through an Alberta Golf Association Turf

School.

5. DEFERRED CASINO REVENUE

Pursuant to the requirements set out by the Alberta Gaming and Liquor Commission (“AGLC”), funds raised

through casinos and not expensed have been designated as being held for future years’ expenses of the following

types:

(a) Administrative costs (maximum 10%)

(b) Bursaries and scholarships

Details of restricted cash and deferred revenue are as follows:

2016 2015

Deferred casino revenue – beginning of year $ 89,616 $ 47,666

Interest income 751 81

Casino proceeds - 87,317

Designated expenses and scholarships (36,933) (45,448)

Deferred casino revenue – end of year $ 53,434 $ 89,616

As at September 30, 2016, the restricted cash balance was $53,934 (2015 - $93,461). The difference between the

restricted cash balance and the deferred casino revenue is due to casino expense payables of $500 (2015 - $3,845),

which are included in accounts payable and accrued liabilities.

6. RELATED PARTY TRANSACTIONS

The Foundation’s related parties include directors and key management personnel. In addition, directors and key

management personnel, or their related parties, hold positions in Alberta Golf Association (“AGA”) that result in

them having significant influence over the strategic operating, financing and investing activities of the Foundation.

All transactions with AGA were in the normal course of operations. Transactions between related parties are

measured at the exchange amount, which is the amount of consideration established and agreed to by the related

parties and which are similar to those negotiable with third parties.

Included in the Foundation’s accounts payable and accrued liabilities as at September 30, 2016, is an amount owing

to the AGA of nil (2015 - $8,728). Included in the accounts receivable as at September 30, 2016, is an amount

receivable from the AGA of $1,850 (2015 - $6,000).

7. FINANCIAL RISK MANAGEMENT

The Foundation is exposed to financial risks through its financial instruments.

Market Risk:

The Foundation’s assets include significant amounts of marketable securities. These assets are externally managed.

The value of marketable securities changes in concert with the business, financial condition, management and other

relevant factors affecting the underlying organization that issued the securities. In addition, general economic

conditions of the markets, in which such organizations operate, change, thereby exposing the Foundation to

fluctuations in the value of investments. The fair market value of marketable securities at September 30, 2016 is

$282,343 (2015 - $272,897).



SEPTEMBER 30, 2016

7. FINANCIAL RISK MANAGEMENT (continued)

Interest rate risk:

Interest rate risk refers to the risk that the fair value of financial instruments or future cash flows associated with the

instruments will fluctuate due to changes in interest rates. The exposure of the Foundation to interest rate risk arises

from its interest bearing assets.

The Foundation manages its exposure to interest rate risk on its cash and cash equivalents and short-term

investments by maximizing interest income earned on excess funds while maintaining the liquidity to conduct

operations on a day to day basis. Fluctuations of market rates of interest on cash and cash equivalents and short-term

investments do not have a significant impact on the Foundation’s results of operations.

The objective of the Foundation with respect to fixed income investments is to ensure the security of principal

amounts invested, provide a high degree of liquidity, and achieve a satisfactory investment return.

Liquidity risk:

Liquidity risk is the risk that the Foundation will not be able to meet a demand for cash or fund its obligations as

they become due.

The Foundation meets its liquidity requirements by monitoring cash flows from operations and anticipating

investing and financing activities.

8. COMPARATIVE FIGURES

The comparative figures have been reclassified, where necessary, for consistency with current year disclosure.

Jeff Murdoch with his caddie (and son) at the 2016 Alberta Match Play Championship hosted at the RedTail Landing Golf Club

Documents

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