The Land Registry Annual Report 2010/11

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Financial Management

Highlight

  • Due to favourable property market conditions, we achieved a profit and total comprehensive income of $203.5 million in 2010/11.
  • During the year, the rate of return on fixed assets was 52.6%.

(a) Financial Objectives

In accordance with the Trading Funds Ordinance, the Land Registry pursues clearly defined financial objectives as follows:

  • meeting expenses incurred in the provision of services to the public and Government departments out of the income of the trading fund, taking one year with another; and
  • achieving a reasonable return, as determined by the Financial Secretary, on the fixed assets employed.