Released on April 20, 2010
In 2009, Information Services Corporation (ISC) posted a profit of $15.1 million, the third highest in its history.
"ISC focused on the right things in 2009, working toward securing future growth from a solid financial base," Minister responsible for ISC June Draude said. "That strong foundation is supporting new opportunities, including the upcoming transfer of Corporations Branch from the Ministry of Justice to ISC in October 2010, and the future development of an online portal to provide a more convenient and cost-effective means to deliver government services to business."
"Currently, much of ISC's business is dependent on the real estate market, which returned to more balanced levels in 2009 after two years of heightened activity," ISC President and CEO Jeff Stusek said. "In spite of this, ISC successfully managed expenses through internal efficiencies and a focus on improving processes. At the same time, we were able to respond to the needs of our customers and give back $6.1 million in fee reductions to Saskatchewan people."
ISC's 2009 Annual Report shows the following financial highlights for the year:
- $15.1 million in net income, compared to $22.4 million in 2008;
- $57.1 million in revenue, compared to $66.4 million for 2008;
- $42 million in expenses, compared to $44 million for 2008; and
- $13.6 million dividend paid to Crown Investments Corporation, compared to $21.1 million in 2008.
Operational highlights as contained in the 2009 Annual Report include:
- Fee reductions in marriage, divorce and estate planning situations saved Saskatchewan families $6.1 million in 2009;
- ISC maintained a turnaround time of 1.65 days for standard land transactions - better than the two-day target and among the fastest in Canada; and
- ISC received national and provincial recognition for its people practices and focus on a healthy workplace, including:
- Saskatchewan's Top 15 Employers for 2009
- Canada's Best Diversity Employers for 2009
- Saskatchewan's Top 20 Employers for 2010
- Canada's Top 100 Employers for 2010
- Canada's Top 25 Family-Friendly Employers for 2010.
About ISC
Information Services Corporation (ISC) is the provincial Crown corporation responsible for the administration of land titles, vital statistics, survey and personal property registries, as well as related geographic information and mapping systems. More information about ISC can be found on the corporation's website at www.isc.ca.
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For more information, contact:
Julianne Jack
Information Services Corporation
Regina
Phone: 306-798-2136
Email: julianne.jack@isc.ca