Released on April 13, 2005
Information Services Corporation of Saskatchewan (ISC) had a strong year financially and operationally in 2004, resulting in an $8.3 million profit for the registry and land services Crown corporation, after a loss of $5.8 million in 2003."The financial success is important, but what is truly rewarding is the maturity of this company from a business planning and quality standpoint," Minister responsible for ISC Eric Cline said. "All employees should be enormously proud of their contributions in what was a successful year, building a strong, sustainable corporation."
Financial highlights in 2004 included:
· Revenues of $44.1 million compared to $36.7 million in 2003;
· Operating expenses were $35.8 million in 2004, down from $39.5 million in 2003;
· $11.9 million in debt was repaid in 2004, compared to $3 million in 2003.
"Careful cost management, a sharpened customer focus and attention to business planning meant expenses were reduced in 2004 from the previous year," ISC President and Chief Executive Officer Mark MacLeod said. "Combined with increased revenues, which resulted from a robust Saskatchewan economy which saw higher volumes of transactions, and some large transactions with higher values, ISC achieved a substantial profit in 2004."
In 2004, ISC operational highlights included:
· A customer satisfaction survey, conducted in late 2004, found that 88 per cent of customers were satisfied or highly satisfied with ISC's service;
· Achievement of Level 1 certification from the National Quality Institute (NQI) in its Canadian Criteria for Public Service Excellence program. NQI quality standards are among the highest in the world for private and public sector corporations and ISC will continue to pursue higher levels within the program;
· Standard land registry transactions were completed in an average of 3.5 business days;
· Surface plans were processed in 8.2 business days, down from nine last year;
· Personal property registrations were maintained at 24 hours;
· ISC maintained and developed working groups with key customers, including the Law Society of Saskatchewan, the Saskatchewan Land Surveyors' Association, the Saskatchewan Homebuilders Association, First Nations organizations and various departments of government; and
· Working groups are being established with the Canadian Association of Petroleum Land Administrators and the Canadian Association of Petroleum Landmen.
"ISC has taken significant steps to preserve the integrity of the Saskatchewan Land Registry and Saskatchewan Writ Registry, and to improve the ability of its customers to work effectively within the system," Regina lawyer and ISC Legal Working Group member Randy Sandbeck said.
"Profitability is significant because it provides a base from which to grow, but our most important achievement was our increased focus and connection with our customers," MacLeod said. "Going forward, we have more work to do and we will continue improving our company, ensuring we engage our customers each step of the way. Our employees have worked hard throughout the year making ISC the best that it can be, and I thank all of them for their contributions."
Information Services Corporation of Saskatchewan was established as a commercial Crown corporation on January 1st, 2000, with a mandate to deliver a one-stop source for land titles, provincial surveys, mapping, Geographic Information Systems and the Personal Property Registry.
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For More Information, Contact:
| Jeff Welke ISC Regina Phone: (306) 787-3447 Cell: (306)533-2365 |