YEAR IN REVIEW
Financial Overview
Operating Revenue
In 2004/05 DLI's revenue exceeded the previous year by $8.7m (13.2%) mainly due to the property market continuing to operate at high levels, and due to the completion of the triennial Metropolitan Revaluation Program, which revalued over 600,000 Western Australian properties for use by the Water Corporation, local governments and FESA.
Cost of Services
Servicing high activity levels as a consequence of the active property market also impacted cost of services, which were $5.8m (6.7%) greater than previous year. The increase was also due to higher depreciation and capital charges reflecting the Department's growing investment in information technology and e-business.
Capital Expenditure
Capital expenditure during 2004/05 was $9.9m. The majority of the investment continued to be in the Department's e-business initiative and the business infrastructure required to support both this initiative and also existing business operations. This included the implementation of new voice management technology that integrates the Department's telephone and computer systems to support improved operating processes and quality seamless customer service.
Financial Summary
| |
2005
($'000)
|
2004
($'000)
|
| Cost of Services |
|
|
| Operating Expenses |
92,546 |
86,761 |
| Operating Revenue |
74,737 |
65,996 |
| Net Cost of Services |
17,809 |
20,765 |
Statement of Financial Position |
|
|
| Total Assets |
75,404 |
72,857 |
| Total Liabilities |
18,729 |
23,110 |
| Total Equity |
56,675 |
49,747 |
|
