2023 – Annual Report Summary
The income for TLTB in 2023 increased by 12% from $22 million in 2022 to $24 million in 2023. The expenditure for TLTB in 2023 increased by 8% from $16 million in 2022 to $18 million in 2023. The overall impact is an increase in the operating surplus by 24% from $5 million in 2022 to $7 million in 2023.
2022 – Annual Report Summary
The income for TLTB in 2022 increased by 23 percent from $17.8 million in 2021 to $21.9 million in 2022. On the other hand, the expenditure also increased by 7 percent from $15.3 million in 2021 to $16.5 million in 2022. Despite the increase in expenses the Board still achieved a surplus of $5.5 million in 2022 compared to $2.5 million in 2021.
2021 – Annual Report Summary
The income for TLTB decreased by 3% from $18.8 million in 2020 to $17.8 million in 2021. The expenditure for TLTB decreased by 3 percent from $15.8 million in 2020 to $25.3 million in 2021. The overall impact is a decrease in the operating surplus by 2 percent from $3 million in 2020 to $2.5 million in 2021.
2020 – Annual Report Summary
The income for TLTB in the 2020 financial year was $18.2 million, a decrease of 12 percent from the $20.7 million recorded for the 2019 financial year. There was also a 9 percent decrease in expenditure from $17.3 million in 2019 to $15.8 million in 2020. The overall result is a 28 percent decline in operation surplus, from $3.4 million in 2019 to $2.4 million in 2020.
2019 – Annual Report Summary
Overall, the total income for TLTB increased by 7.7 percent; from $19.2 million in 2018 to $20.7 million in 2019. Although expenditure increased from $15.7 million last year, TLTB recorded a profit of 0.8 percent in 2019 – a slight increase from $3.4 million in 2018 to $3.5 million in 2019
2018 – Annual Report Summary
2018 was another transformational year for the iTaukei Land Trust Board (TLTB) resulting in a $3.5 million profit. The opening of two new sub-regional offices in Ba and Nausori equally contributed to expanding the service horizons as well as generating income for the Board. These investments in organizational growth have enabled the Board to sustain its reputation as one of the easily accessed offices in the country that is yearning to deliver the best land management services to its stakeholders.
2017 – Annual Report Summary
For the fiscal year ending 31st December 2017, the iTaukei Land Trust Board achieved more than eighty percent (80%) increase in its net surplus amounting to $2.2 million in comparison to the $1.24 million achieved in 2016. The total Trust income collected during the year was $73.29m compared to the $66.88m collected in 2016. Ensuring that the landowners receive a fair market value of their land, the total income distributed to them totaled $73.54 million. For the first time, the Board also set up a grant initiative that specifically targets the landowners who wish to lease their own lands. This year saw $200,000 being distributed to 29 recipients.
2016 – Annual Report Summary
Despite experiencing a devastating Category five (5) tropical cyclone in February, the Board still managed to make a profit of $1.24 million and the overall financial performance was quite satisfactory. Investments that are both; held to maturity and available for sale both increased, therefore increasing total investment to $13 million compared to $11 million in 2015. The Board distributed $66million out of the $70million it received, to the landowners. TLTB even expanded its operations, with the opening of two (2) of its sub-regional offices in Korovou and Rakiraki and the quality of leases created were high in quality which raked in an improved premium rate.
2015 – Annual Report Summary
The iTaukei Land Trust Board recorded a profit of $2.77 million in comparison to the $2.74 million in 2014. A contributing factor to this achievement was the reduction in expenses by more than $200,000. The Board also managed to distribute more than $67million to the landowners while more than $11 million are still pending distribution. This is because the minor’s funds are still being withheld by the Board until investment options are finalized. A milestone achievement for TLTB during the year, was the winning of the Gold Award at the National Quality Convention of which the winning team will be representing Fiji to the International Quality Circle Convention in Singapore, next year.
2014 – Annual Report Summary
Compared to 2013, the total income for the year had decreased to 14.78 million while expenses increased to $11.36 million, yet, still recording a surplus of $3.42 million. During the year, the Board had focused on providing efficient quality service and improving its operations. This made a significant impact on the collection of Landowner’s income which recorded an all-time high at $61,021,502 and distributed $62,453,574.
2013 – Annual Report Summary
A good result was achieved in the year 2013 with the total income amounting to $16,801,050 and expenditure settled at $10,886,038, generating a profit of $5,915,012. Out of the $54,101,255 Landowner’s income that was collected, the amount distributed to the landowners was $52,488,691 which was 97% of the total received. Compared to the previous years, the variance in the amount collected and amount distributed had greatly dropped.
2012 – Annual Report Summary
A notable increase in total income of $18 million was recorded in 2011. Expenditure was slightly over than $13 million, resulting in a net surplus of $4.98 million. Landowner’s income collected in the year grew to $50,524,155 but funds distributed were even higher at $51,535,090.This year also witnessed the implementation and formation of the Fiji Business in Excellence Awards (FBEA).
2011 – Annual Report Summary
The total income of the Board in 2011 was $11,836,970 while expenditure dropped considerably to $6,599,085 thus raising the profit to $5.23 million. Landowners funds collected had slightly dropped to $43,161,266 but the Board distributed $46,572,660 which was inclusive of some of the funds pending distribution in 2010. Some of the changes, including the re-branding of NLTB to TLTB were mandated by the Government and implemented by the Board that justified the financial outcome of the year.