YEAR IN REVIEW
Financial Overview
From 1 July 2003, Government transferred responsibility for Crown Land Services to the Department for
Planning and Infrastructure. Consequently, all attendant Assets and Liabilities (both Controlled and
Administered) were transferred effective from that date.
Therefore, results for 2002/2003 and 2003/2004 are not strictly comparable.
Operating Revenue
Operating revenue continued to be influenced by a buoyant property market. During 2003/2004 DLI's revenue
exceeded $65m of which a large proportion (83%) related to Land Titles Management activity.
Cost of Services
The cost of services reduced markedly (around 14%) mainly as a result of the transfer of the Crown Land
Services function.
Capital Expenditure
Capital expenditure during 2003-04 exceeded $8.5m. The majority of the investment continued to be in
information technology, which included the ongoing asset replacement program, systems development
and implementation of:
- Landgate, an online gateway to provide access to land and property information held by the
Western Australian Government; and
- Electronic Advice of Sale 2 (EAS 2), enabling conveyancers to submit a single request to obtain
rates and taxes information from the Department of Treasury and Finance, Water Corporation
and Local Government.
Financial Summary
| |
2004
($'000)
|
2003
($'000)
|
| Cost of Services |
|
|
| Operating Expenses |
86,515 |
100,672 |
| Operating Revenue |
65,750 |
60,782 |
| Net Cost of Services |
20,765 |
39,890 |
Statement of Financial Position |
|
|
| Total Assets |
72,857 |
92,809 |
| Total Liabilities |
23,110 |
20,491 |
| Total Equity |
49,747 |
72,318 |
|
