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Chief Executive's Foreword |
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Major Issues & Trends |
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Achievements 2002-2003 |
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Product Highlights |
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Corporate Highlights |
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Outlook 2003-2004 |
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Financial Overview |
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Summary of Output Measures |
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A continued buoyant property market during 2002-03 enabled DOLA's revenue to exceed $60m with the main revenue source being Land Titles Management activities.
Cost of Services was 7.6% above budget or $7.1m mainly due to one-off additional costs associated with the administering of Output 1 - Government Land Services and severance costs.
Capital expenditure of $5.86m was directed mainly at DOLA's continued investment in information technology, which included the completion of the digital capture of land titles information and the ongoing asset replacement program.
| 2003 ($'000) |
2002 ($'000) |
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| Cost of Services | ||
| Operating Expenses | 100,672 |
92,094 |
| Operating Revenue | 60,782 |
60,201 |
| Net Cost of Services | 39,890 |
31,893 |
| Statement of Financial Performance | ||
| Total Assets | 92,809 |
88,353 |
| Total Liabilities | 20,491 |
16,430 |
| Total Equity | 72,318 |
71,923 |
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