The Land Title and Survey Authority of British Columbia (LTSA) is a publicly accountable, statutory corporation responsible for operating BC’s land title and survey systems. LTSA’s Annual Report has been published which reports our performance in achieving operational and financial targets for the year ended March 31, 2022.
LTSA will be holding its Annual General Meeting on Tuesday, July 5, 2022 at the Delta Hotels Victoria Ocean Pointe Resort. Further details are included in the formal Notice of AGM posted to LTSA.ca on June 7, 2021.
Since its creation in 2005, LTSA has consistently met or exceeded all land title and survey performance targets set by the Province in the Operating Agreement, and its solid performance record continues across operational and financial measures. In 2021/2022, LTSA processed over seven million online transactions and received just under one million land title applications.
The 2021-2022 fiscal year included noteworthy milestones for LTSA, including record levels of transactions and land title applications during a sustained period of elevated activity in the real estate market. LTSA successfully achieved its targets for turn-around times, made possible through the dedication of employees and multi-year efforts to increase electronic filing and automated processing of land title applications.
As part of LTSA’s strategic objectives to strengthen core systems and improve operational excellence, product enhancements introduced this year build on LTSA’s long-term efforts to continually improve the efficiency and accuracy of the land title and survey systems. This includes broadening the types of applications that can be processed automatically and refining system validations to help reduce defects. A number of legacy forms were retired with almost all land title applications now submitted through Web Filing forms. Parallel work has begun in survey plan services, with customer-facing improvements to be introduced over the coming three years. Work to move the majority of LTSA’s systems to the cloud operating environment was also completed, improving the speed and availability of online services.
LTSA has always strived to act with trust, integrity and in the public interest. While LTSA’s current planning and operations have reflected the principles of environmental, social and governance (ESG), the organization has determined to initiate steps to build an ESG framework in the coming fiscal year to more clearly align activities and reporting.
LTSA initiated development of an Indigenous Reconciliation Plan to guide LTSA in aligning with the United Nations Declaration of the Rights of Indigenous Peoples (UNDRIP) and responding to the Calls to Action from the Truth and Reconciliation Commission (TRC) within the context of LTSA’s mandate. The goal is to establish a meaningful framework for how the LTSA can conduct its business in the spirit of UNDRIP and the TRC Calls to Action. The Plan is targeted for completion in the 2022/23 fiscal year.
We are optimistic that our accomplishments this year will serve us well as we continue to support our customers and continue to improve the delivery of our services into the future.