Summary

The Ministry of Finance supports the economic, fiscal, financial, and taxation policies and strategies of the Government of Ontario, and oversees the Province’s borrowing and debt management program. The ministry administers a number of tax statutes, tax credits and benefit programs, and produces the provincial budget. In conjunction with Treasury Board Secretariat, the ministry also manages the Consolidated Revenue Fund and fiscal and financial policies of the Government of Ontario, and reports on financial matters. The ministry also develops policies for Ontario’s financial services sector and supports the regulation of financial services institutions and intermediaries carrying on business in the province. In addition, the ministry manages Ontario’s fiscal relationship with the federal government, other provinces and Ontario’s municipalities, reports on the Trillium Trust, and oversees agencies accountable to the Minister of Finance. The Ministry also reports on economic and demographic developments in the province and provides analytical support and policy advice on these topics as well as statistical issues and trends that affect Ontario’s economic growth and job creation.

Ministry program summary

VoteProgramEstimates
2018-19		Estimates
2017-18		Difference
between
2018-19
and
2017-18		Actual
2016-17
 Operating expense    
1201Ministry Administration Program$41,730,100$40,552,700$1,177,400$36,013,618
1202Regulatory Policy and Agency Relations Program$143,953,300$112,053,700$31,899,600$113,850,046
1203Economic, Fiscal, and Financial Policy Program$471,772,800$544,080,200($72,307,400)$303,426,207
1204Financial Services Industry Regulation Program$3,829,600$2,438,600$1,391,000$2,783,231
1209Tax, Benefits and Local Finance Program$968,390,500$974,106,600($5,716,100)$894,731,116
 Ontario Retirement Pension Plan Program---$2,363,201
 Total operating expense to be voted$1,629,676,300$1,673,231,800($43,555,500)$1,353,167,419
 Statutory appropriations    
 

Treasury Program

$12,253,092,100$11,298,251,700$954,840,400$10,661,626,065
 

Other statutory appropriations

$50,784,914$50,785,914($1,000)$512,651,812
 Ministry total operating expense$13,933,553,314$13,022,269,414$911,283,900$12,527,445,296
 Consolidation adjustment - Ontario Financing Authority$27,211,300$26,711,000$500,300$23,121,000
 Consolidation adjustment - Ontario Securities Commission$110,225,900$112,303,000($2,077,100)$99,902,141
 Consolidation adjustment - Ontario Electricity Financial Corporation($259,326,900)($216,818,300)($42,508,600)$128,829,953
 Other adjustments - Financial Services Commission of Ontario$75,494,400$77,134,600($1,640,200)$80,534,327
 Consolidation adjustment - Financial Services Regulatory Authority of Ontario$36,342,300-$36,342,300-
 Consolidation adjustment - Treasury Program$688,155,100$1,187,825,800($499,670,700)$563,867,545
 Consolidation adjustment - Treasury Program - Interest Capitalization for Other Sectors($398,495,500)($240,430,200)($158,065,300)$483,418,232
 Total including consolidation & other adjustments$14,213,159,914$13,968,995,314$244,164,600$13,907,118,494
 Operating assets    
1201Ministry Administration Program$1,000-$1,000-
1202Regulatory Policy and Agency Relations Program$26,700,000-$26,700,000-
1203Economic, Fiscal, and Financial Policy Program-$275,000,000($275,000,000)-
1204Financial Services Industry Regulation Program$1,000$1,000--
1209Tax, Benefits and Local Finance Program$400,000$400,000-$233,578
 Total operating assets to be voted$27,102,000$275,401,000($248,299,000)$233,578
 Statutory appropriations$67,640,000$29,000,000$38,640,000$28,793,093
 Ministry total operating assets$94,742,000$304,401,000($209,659,000)$29,026,671
 Capital expense    
1202Regulatory Policy and Agency Relations Program$1,000-$1,000-
1203Economic, Fiscal, and Financial Policy Program$1,000$1,000--
1204Financial Services Industry Regulation Program$1,000$1,000--
1208Investing in Ontario Program$1,000$1,000--
1209Tax, Benefits and Local Finance Program$1,000$1,000--
 Total capital expense to be voted$5,000$4,000$1,000-
 Statutory appropriations    
 

Trillium Trust Program

$731,425,200$288,790,600$442,634,600$250,227,012
 

Other statutory appropriations

$2,640,600$2,639,600$1,000$2,637,609
 Ministry total capital expense$734,070,800$291,434,200$442,636,600$252,864,621
 Capital expense adjustment - Trillium Trust Reclassification($731,425,200)($288,790,600)($442,634,600)($250,227,012)
 Consolidation adjustment - Ontario Financing Authority$770,000$789,000($19,000)$831,000
 Consolidation adjustment - Ontario Securities Commission$4,061,300$3,150,000$911,300$3,112,359
 Other adjustments - Financial Services Commission of Ontario---$663,680
 Capital expense adjustment - Greenhouse Gas Reduction Account Reclassification$1,069,000-$1,069,000-
 Total including consolidation & other adjustments$8,545,900$6,582,600$1,963,300$7,244,648
 Capital assets    
1203Economic, Fiscal, and Financial Policy Program$1,000$1,000--
1204Financial Services Industry Regulation Program$7,369,200$7,708,600($339,400)$779,575
1209Tax, Benefits and Local Finance Program$1,000$1,000--
 Total capital assets to be voted$7,371,200$7,710,600($339,400)$779,575
 Statutory appropriations    
 

Trillium Trust Program

$64,943,500$118,850,000($53,906,500)$11,291,973
 Ministry total capital assets$72,314,700$126,560,600($54,245,900)$12,071,548
 Capital asset adjustment - Trillium Trust Reclassification($64,943,500)($118,850,000)$53,906,500($11,291,973)
 Total Including Adjustments$7,371,200$7,710,600($339,400)$779,575
 Ministry Total Operating and Capital Including Consolidation and Other adjustments (not including Assets)$14,221,705,814$13,975,577,914$246,127,900$13,914,363,142

Reconciliation to previously published data

Operating expense2017-18
Estimates		2016-17
Actual
Total Operating expense previously published footnote 1$13,022,269,414$12,526,422,430
Government reorganization  
   Transfer of functions from other Ministries-$1,022,866
Restated total operating expense$13,022,269,414$12,527,445,296

Ministry Administration Program - vote 1201

This program, which includes the Offices of the Minister and Deputy Minister, delivers planning, advisory, legal, and controllership functions to ensure direction and management of operating programs consistent with Ontario Government policy and legislation. In addition, the program manages the service relationships with Treasury Board Secretariat and the Ministry of Government and Consumer Services, ensures proper levels of support to the ministry and its client groups, and strategically manages the ministry’s quality service commitments.

Vote summary

Item numberItemEstimates
2018-19		Estimates
2017-18		Difference
between
2018-19
and
2017-18		Actual
2016-17
 Operating expense    
1Ministry Administration$41,730,100$40,552,700$1,177,400$36,013,618
 Total operating expense to be voted$41,730,100$40,552,700$1,177,400$36,013,618
SMinister’s salary, the Executive Council Act$47,841$47,841-$49,301
SMinister without Portfolio’s Salary, the Executive Council Act---$8,843
SParliamentary assistant’s salary, the Executive Council Act$16,173$16,173-$16,250
SBad debt expense, the Financial Administration Act$1,000$1,000--
 Total statutory appropriations$65,014$65,014-$74,394
 Total operating expense$41,795,114$40,617,714$1,177,400$36,088,012
 Operating assets    
10Accounts receivable$1,000-$1,000-
 Total operating assets to be voted$1,000-$1,000-
 Total Operating assets$1,000-$1,000-

Standard account by item and sub-items

Vote-item
number		Standard account by item and sub-itemsAmountAmount
 Operating expense  
1201-1Ministry Administration  
 

Salaries and wages

 $18,621,800
 

Employee benefits

 $2,733,900
 

Transportation and communication

 $1,131,300
 

Services

 $18,392,900
 

Supplies and equipment

 $850,200
 Total operating expense to be voted $41,730,100
 Sub-items:  
 Main Office  
 

Salaries and wages

$3,614,400 
 

Employee benefits

$389,600 
 

Transportation and communication

$305,400 
 

Services

$353,700 
 

Supplies and equipment

$77,200$4,740,300
 Financial and Administrative Services  
 

Salaries and wages

$8,104,900 
 

Employee benefits

$1,567,000 
 

Transportation and communication

$428,200 
 

Services

$7,304,300 
 

Supplies and equipment

$353,900$17,758,300
 Human Resources  
 

Salaries and wages

$1,621,800 
 

Employee benefits

$308,200 
 

Transportation and communication

$35,200 
 

Services

$179,500 
 

Supplies and equipment

$64,800$2,209,500
 Communications Services  
 

Salaries and wages

$5,280,700 
 

Employee benefits

$469,100 
 

Transportation and communication

$73,600 
 

Services

$291,400 
 

Supplies and equipment

$164,100$6,278,900
 Legal Services  
 

Transportation and communication

$255,300 
 

Services

$8,646,500 
 

Supplies and equipment

$173,400$9,075,200
 Audit Services  
 

Transportation and communication

$33,600 
 

Services

$1,617,500 
 

Supplies and equipment

$16,800$1,667,900
 Total operating expense to be voted $41,730,100
 Statutory appropriations  
Statutory

Minister’s salary, the Executive Council Act

 $47,841
Statutory

Parliamentary assistant’s salary, the Executive Council Act

 $16,173
 Statutory appropriations  
 

Other transactions

  
Statutory

Bad debt expense, the Financial Administration Act

 $1,000
 Total operating expense for Ministry Administration Program $41,795,114
 Operating assets  
1201-10Accounts receivable  
 

Advances and recoverable amounts

  
 

Advances and recoverable - in-year recoveries

 $1,000
 Total operating assets to be voted $1,000
 Total Operating assets for Ministry Administration Program $1,000

Regulatory Policy and Agency Relations Program - vote 1202

This program provides coordination and oversight of the Ministry of Finance’s regulatory policy agenda, and related agency oversight.

This program includes pension and income security policy analysis, policy development and legislation. This program is responsible for tracking emerging trends and developments and identifying the economic and fiscal implications of pension and income security policies, and for advising and assisting the Deputy Minister of Finance, the Minister and the government in formulating major economic, fiscal and policy documents.

This program provides analysis and advice regarding Ontario’s interest in, and regulation of, the provincial financial services sector, such as insurance, deposit-taking institutions, co-operatives, mortgage brokers, and the capital markets. This includes implementation and ongoing oversight of regulatory agencies, such as the Financial Services Commission of Ontario, the Deposit Insurance Corporation of Ontario, the Ontario Securities Commission, the Financial Services Regulatory Authority of Ontario, and the proposed Cooperative Capital Markets Regulatory System.

This program supports the coordination of horizontal policy development on a number of transformation initiatives spanning multiple ministries, on an as required basis. This includes implementation of beverage alcohol and gaming modernization, cannabis retail, and oversight and implementation of some of the Premier’s Advisory Council on Government Assets recommendations. This program is also responsible for facilitating the Minister’s oversight and accountability of the Liquor Control Board of Ontario, the Ontario Lottery and Gaming Corporation, including the horse-racing sector, and for managing the Ontario Deposit Return Program for beverage alcohol containers.

Note: recoveries under Capital Expense for Regulatory Policy and Agency Relations – Capital Expenses include recoveries of $1,069,000 from the Greenhouse Gas Reduction Account, which are based on forecasts of anticipated revenues and contingent upon a sufficient balance to the credit of the Greenhouse Gas Reduction Account.

Vote summary

Item numberItemEstimates
2018-19		Estimates
2017-18		Difference
between
2018-19
and
2017-18		Actual
2016-17
 Operating expense    
6Income Security and Pension Policy$7,719,800$6,241,100$1,478,700$11,694,518
7Government Business Enterprise$124,917,100$100,734,900$24,182,200$98,466,772
8Financial Services Policy$11,316,400$5,077,700$6,238,700$3,688,756
 Total operating expense to be voted$143,953,300$112,053,700$31,899,600$113,850,046
 Total operating expense$143,953,300$112,053,700$31,899,600$113,850,046
 Operating assets    
9Strategic Assets – Loans and Investments$26,700,000-$26,700,000-
 Total operating assets to be voted$26,700,000-$26,700,000-
SLoans and Investments - the Financial Services Regulatory Authority of Ontario Act, 2016$34,940,000-$34,940,000-
 Total statutory appropriations$34,940,000-$34,940,000-
 Total Operating assets$61,640,000-$61,640,000-
 Capital expense    
11Regulatory Policy and Agency Relations – Capital expenses$1,000-$1,000-
 Total capital expense to be voted$1,000-$1,000-
 Total capital expense$1,000-$1,000-

Standard account by item and sub-items

Vote-item
number		Standard account by item and sub-itemsAmountAmount
 Operating expense  
1202-6Income Security and Pension Policy  
 

Salaries and wages

 $5,751,100
 

Employee benefits

 $712,500
 

Transportation and communication

 $47,500
 

Services

 $1,153,400
 

Supplies and equipment

 $55,300
 Total operating expense to be voted $7,719,800
1202-7Government Business Enterprise  
 

Salaries and wages

 $5,051,000
 

Employee benefits

 $642,800
 

Transportation and communication

 $187,000
 

Services

 $4,116,900
 

Supplies and equipment

 $129,400
 

Transfer payments

  
 

Other Post-Employment-Benefits Loan Concession

$291,300 
 

Ontario Cannabis Implementation Fund

$20,000,000 
 

Horse Racing Partnership Funding Program

$94,711,100$115,002,400
 Subtotal $125,129,500
 Less: recoveries $212,400
 Total operating expense to be voted $124,917,100
 Sub-items:  
 Investment and Governance  
 

Salaries and wages

$1,743,900 
 

Employee benefits

$225,000 
 

Transportation and communication

$117,000 
 

Services

$2,186,700 
 

Supplies and equipment

$38,200 
 

Transfer payments

  
 

Other Post-Employment-Benefits Loan Concession

$291,300$4,602,100
 Gaming Policy  
 

Salaries and wages

$1,183,600 
 

Employee benefits

$148,600 
 

Transportation and communication

$26,700 
 

Services

$642,600 
 

Supplies and equipment

$34,800 
 

Transfer payments

  
 

Horse Racing Partnership Funding Program

$94,711,100$96,747,400
 Alcohol and Cannabis Policy  
 

Salaries and wages

$2,123,500 
 

Employee benefits

$269,200 
 

Transportation and communication

$43,300 
 

Services

$1,287,600 
 

Supplies and equipment

$56,400 
 

Transfer payments

  
 

Ontario Cannabis Implementation Fund

$20,000,000 
 

Subtotal

$23,780,000 
 

Less: recoveries

$212,400$23,567,600
 Total operating expense to be voted $124,917,100
1202-8Financial Services Policy  
 

Salaries and wages

 $5,901,600
 

Employee benefits

 $911,000
 

Transportation and communication

 $87,600
 

Services

 $2,589,500
 

Supplies and equipment

 $81,700
 

Transfer payments

  
 

Ontario Fintech Accelerator Office

 $1,745,000
 Total operating expense to be voted $11,316,400
 Total operating expense for Regulatory Policy and Agency Relations Program $143,953,300
 Operating assets  
1202-9Strategic Assets – Loans and Investments  
 

Loans and Investments

  
 

Other Loans – Stelco

 $26,700,000
 Total operating assets to be voted $26,700,000
 Statutory appropriations  
StatutoryLoans and Investments - the Financial Services Regulatory Authority of Ontario Act, 2016  
 

Loans and Investments

 $34,940,000
 Total Operating assets for Regulatory Policy and Agency Relations Program $61,640,000
 Capital expense  
1202-11Regulatory Policy and Agency Relations – Capital expenses  
 

Transfer payments

  
 

Greenhouse Gas Reduction Account

 $1,070,000
 Less: recoveries $1,069,000
 Total capital expense to be voted $1,000
 Total capital expense for Regulatory Policy and Agency Relations Program $1,000

Economic, Fiscal, and Financial Policy Program - vote 1203

This program develops and implements sound economic and fiscal strategies to raise revenue and help to stimulate economic growth and job creation; forecasts, monitors and reports on the performance of the Ontario economy; provides financial and economic expertise, analysis and advice to support the development, implementation, assessment, and examination of the impact of government policies and programs; develops demographic forecasts for Ontario and its 49 census divisions; develops and provides strategic oversight of and advice related to the government’s fiscal plan; assists the Minister of Finance and the government in formulating Ontario’s finance policy and strategies with respect to federal-provincial fiscal arrangements; and provides policy advice to clients, managers, and decision makers in the areas of fiscal and financial management. The program is also responsible for facilitating engagement with central agency and line ministry partners to provide fiscal and budgetary policy advice and support policy development and prioritization. The program is responsible for statistics policy and is leading efforts to deliver high quality data and information, and modernizing Ontario’s statistics services. In addition, the program reflects the transfer of dedicated electricity earnings from the province to the Ontario Electricity Financial Corporation.

This program assists the Minister, Deputy Minister of Finance and the government in formulating the fiscal plan and reporting the results of the Province through the Ontario Budget, Ontario Quarterly Finances, Ontario Economic Accounts, Economic Outlook and Fiscal Review, and Ontario’s Public Accounts. The program undertakes annual population projections for use in resource allocation and planning, leads preparation of the Long-term Report on the Economy and contributes to the Pre-Election Report on Ontario’s Finances required by the Fiscal Transparency and Accountability Act.

Vote summary

Item numberItemEstimates
2018-19		Estimates
2017-18		Difference
between
2018-19
and
2017-18		Actual
2016-17
 Operating expense    
1Economic Policy$13,122,300$12,719,300$403,000$11,135,530
8Office of the Budget$9,538,400$6,542,600$2,995,800$2,738,677
12Ontario Electricity Financial Corporation Dedicated Electricity Earnings$449,112,100$524,818,300($75,706,200)$289,552,000
 Total operating expense to be voted$471,772,800$544,080,200($72,307,400)$303,426,207
SGuarantees and Indemnities, the Financial Administration Act$1,000$1,000--
SOntario Electricity Financial Corporation Financial Benefit – Asset Optimization, the Electricity Act, 1998-$1,000($1,000)$411,152,733
SHydro One Inc., Provincial Corporate Tax Provision, the Electricity Act, 1998$1,000$1,000-$24,800,000
 Total statutory appropriations$2,000$3,000($1,000)$435,952,733
 Total operating expense$471,774,800$544,083,200($72,308,400)$739,378,940
 Operating assets    
-Strategic Assets – Loans and Investments-$275,000,000($275,000,000)-
 Total operating assets to be voted-$275,000,000($275,000,000)-
 Total Operating assets-$275,000,000($275,000,000)-
 Capital expense    
14Economic, Fiscal, and Financial Policy Program$1,000$1,000--
 Total capital expense to be voted$1,000$1,000--
SAmortization, the Financial Administration Act$1,000$1,000--
 Total statutory appropriations$1,000$1,000--
 Total capital expense$2,000$2,000--
 Capital assets    
13Economic, Fiscal and Financial Policy Program$1,000$1,000--
 Total capital assets to be voted$1,000$1,000--
 Total capital assets$1,000$1,000--

Standard account by item and sub-items

Vote-item
number		Standard account by item and sub-itemsAmount
 Operating expense 
1203-1Economic Policy 
 

Salaries and wages

$9,246,800
 

Employee benefits

$1,125,900
 

Transportation and communication

$166,100
 

Services

$1,774,500
 

Supplies and equipment

$308,000
 

Transfer payments

 
 

Grants in Support of Economic and Financial Services Policy Research

$501,000
 Total operating expense to be voted$13,122,300
1203-8Office of the Budget 
 

Salaries and wages

$3,583,800
 

Employee benefits

$443,100
 

Transportation and communication

$71,800
 

Services

$5,397,500
 

Supplies and equipment

$42,200
 Total operating expense to be voted$9,538,400
1203-12Ontario Electricity Financial Corporation Dedicated Electricity Earnings 
 

Other transactions

 
 

Electricity Sector Dedicated Income

$449,112,100
 Total operating expense to be voted$449,112,100
 Statutory appropriations 
 

Other transactions

 
Statutory

Guarantees and Indemnities, the Financial Administration Act

$1,000
 Statutory appropriations 
 

Other transactions

 
Statutory

Hydro One Inc., Provincial Corporate Tax Provision, the Electricity Act, 1998

$1,000
 Total operating expense for Economic, Fiscal, and Financial Policy Program$471,774,800
 Capital expense 
1203-14Economic, Fiscal, and Financial Policy Program 
 

Other transactions

$1,000
 Total capital expense to be voted$1,000
 Statutory appropriations 
 

Other transactions

 
Statutory

Amortization, the Financial Administration Act

$1,000
 Total capital expense for Economic, Fiscal, and Financial Policy Program$2,000
 Capital assets 
1203-13Economic, Fiscal and Financial Policy Program 
 

Land and marine fleet - asset costs

$1,000
 Total capital assets to be voted$1,000
 Total capital assets for Economic, Fiscal, and Financial Policy Program$1,000

Financial Services Industry Regulation Program - vote 1204

The Financial Services Commission of Ontario (FSCO) regulates the province’s financial services sector, including insurance companies, health service providers for auto insurance, pension plans, credit unions, caisses populaires, mortgage brokers, agents and administrators, loan and trust companies, and co-operatives. FSCO also makes recommendations to the Minister of Finance on matters affecting these sectors. In addition, FSCO is responsible for the administration of the Motor Vehicle Accident Claims Fund (MVACF) which compensates people injured in automobile accidents in Ontario where there is no other insurance available to respond to the claim. FSCO is also responsible for the administration of the Pension Benefits Guarantee Fund (PBGF). The PBGF pays a minimum level of pension benefits if a plan is wound up with insufficient assets.

FSCO works with the Ministry of Finance, consumers and industry stakeholders to protect the public interest and enhance public confidence in the regulated sectors.

The Financial Services Tribunal hears appeals from decisions and reviews proposed decisions of the Superintendent of Financial Services and of the Deposit Insurance Corporation of Ontario. Proceedings before the Financial Services Tribunal are conducted at the request of affected persons to whom the decisions or proposed decisions have been directed.

Vote summary

Item numberItemEstimates
2018-19		Estimates
2017-18		Difference
between
2018-19
and
2017-18		Actual
2016-17
 Operating expense    
1Financial Services Commission of Ontario$3,827,600$2,437,600$1,390,000$2,783,231
2Motor Vehicle Accident Claims Fund$1,000$1,000--
6Financial Services Tribunal$1,000-$1,000-
 Total operating expense to be voted$3,829,600$2,438,600$1,391,000$2,783,231
SBad debt expense, the Financial Administration Act$1,000$1,000--
 Total statutory appropriations$1,000$1,000--
 Total operating expense$3,830,600$2,439,600$1,391,000$2,783,231
 Operating assets    
5Financial Services Industry Regulation Program$1,000$1,000--
 Total operating assets to be voted$1,000$1,000--
 Total Operating assets$1,000$1,000--
 Capital expense    
4Financial Services Industry Regulation Program$1,000$1,000--
 Total capital expense to be voted$1,000$1,000--
SAmortization, the Financial Administration Act$1,000$1,000--
SLoss on Asset Disposal, the Financial Administration Act$1,000-$1,000-
 Total statutory appropriations$2,000$1,000$1,000-
 Total capital expense$3,000$2,000$1,000-
 Capital assets    
3Financial Services Industry Regulation Program$7,369,200$7,708,600($339,400)$779,575
 Total capital assets to be voted$7,369,200$7,708,600($339,400)$779,575
 Total capital assets$7,369,200$7,708,600($339,400)$779,575

Standard account by item and sub-items

Vote-item
number		Standard account by item and sub-itemsAmount
 Operating expense 
1204-1Financial Services Commission of Ontario 
 

Salaries and wages

$41,182,500
 

Employee benefits

$10,020,800
 

Transportation and communication

$974,300
 

Services

$26,710,400
 

Supplies and equipment

$434,000
 Subtotal$79,322,000
 Less: recoveries$75,494,400
 Total operating expense to be voted$3,827,600
1204-2Motor Vehicle Accident Claims Fund 
 

Salaries and wages

$2,613,000
 

Employee benefits

$377,600
 

Transportation and communication

$89,700
 

Services

$8,848,000
 

Supplies and equipment

$124,900
 Subtotal$12,053,200
 Less: recoveries$12,052,200
 Total operating expense to be voted$1,000
1204-6Financial Services Tribunal 
 

Salaries and wages

$177,900
 

Employee benefits

$38,600
 

Transportation and communication

$1,000
 

Services

$1,000
 

Supplies and equipment

$1,000
 Subtotal$219,500
 Less: recoveries$218,500
 Total operating expense to be voted$1,000
 Statutory appropriations 
 

Other transactions

 
Statutory

Bad debt expense, the Financial Administration Act

$1,000
 Total operating expense for Financial Services Industry Regulation Program$3,830,600
 Operating assets 
1204-5Financial Services Industry Regulation Program 
 

Deposits and prepaid expenses

$1,000
 Total operating assets to be voted$1,000
 Total Operating assets for Financial Services Industry Regulation Program$1,000
 Capital expense 
1204-4Financial Services Industry Regulation Program 
 

Other transactions

$1,000
 Total capital expense to be voted$1,000
 Statutory appropriations 
 

Other transactions

 
Statutory

Amortization, the Financial Administration Act

$993,300
 

Less: recoveries

$992,300
 Statutory appropriations 
 

Other transactions

 
Statutory

Loss on Asset Disposal, the Financial Administration Act

$1,000
 Total capital expense for Financial Services Industry Regulation Program$3,000
 Capital assets 
1204-3Financial Services Industry Regulation Program 
 

Information technology hardware

$780,000
 

Business application software - salaries and wages

$1,624,300
 

Business application software - employee benefits

$352,500
 

Business application software - asset costs

$4,612,400
 Total capital assets to be voted$7,369,200
 Total capital assets for Financial Services Industry Regulation Program$7,369,200

Investing in Ontario Program - vote 1208

The Investing in Ontario program has responsibility for the distribution of all or part of the consolidated surplus for a fiscal year (reduced by any allocation to the reduction of the accumulated deficit that may be prescribed by regulation) to eligible recipients for the purposes, and in the manner as may be prescribed by regulation. Eligible recipients must also be prescribed by regulation and may only include entities, other than individuals, that do not carry on their activities for the purposes of gain or profit.

Vote summary

Item numberItemEstimates
2018-19		Estimates
2017-18		Difference
between
2018-19
and
2017-18		Actual
2016-17
 Capital expense    
1Investing in Ontario$1,000$1,000--
 Total capital expense to be voted$1,000$1,000--
 Total capital expense$1,000$1,000--

Standard account by item and sub-items

Vote-item
number		Standard account by item and sub-itemsAmount
 Capital expense 
1208-1Investing in Ontario 
 

Transfer payments

 
 

Investing in Ontario Act, 2008

$1,000
 Total capital expense to be voted$1,000
 Total capital expense for Investing in Ontario Program$1,000

Tax, Benefits and Local Finance Program - vote 1209

This program develops the policy and legislative framework for Ontario’s taxation and benefits systems; administers Ontario tax statutes and a number of benefit programs; maintains the integrity of Ontario’s tax system; and manages the province’s fiscal relationship with municipalities. The program objective is to maintain a tax system that is competitive and transparent for business to support economic growth, while ensuring tax supports and structure are fair and effective for individuals and families in Ontario. As part of this work, it conducts tax compliance activities including audit, inspection, investigation and collection, and delivers key benefit programs for low-income seniors and families, as well as income verification services to other benefit programs. Accountability for managing the relationship with the Canada Revenue Agency, which collects the majority of the province’s taxes on its behalf, also rests with this program. The program provides advice on the development of policies and regulations governing municipal property taxation in Ontario, manages education property taxes and provincial land tax, establishes the policy and legislative framework for Ontario’s property assessment system, and provides oversight of the Municipal Property Assessment Corporation. It also provides oversight of the Ontario Municipal Partnership Fund, the province’s main transfer payment to municipalities. The program provides strategic analysis and advice on personal, corporate, mining, commodity, sales, estate administration and payroll tax policy and design. It also supports a fair and efficient tax system by leading the province’s efforts to address the underground economy.

Vote summary

Item numberItemEstimates
2018-19		Estimates
2017-18		Difference
between
2018-19
and
2017-18		Actual
2016-17
 Operating expense    
1Tax and Benefits Administration$400,754,300$411,082,400($10,328,100)$337,811,945
5Taxation Policy$10,460,000$10,460,000-$8,891,583
6Provincial-Local Finance$25,711,100$25,409,100$302,000$21,539,889
7Municipal Support Programs$531,465,100$527,155,100$4,310,000$526,487,699
 Total operating expense to be voted$968,390,500$974,106,600($5,716,100)$894,731,116
SPayments to Private Collection Agencies, the Financial Administration Act$5,500,000$5,500,000-$5,671,540
SBad debt expense, the Financial Administration Act$45,215,900$45,215,900-$44,995,113
SPayments Under the Tax Increment Financing Act, 2006$1,000$1,000--
 Total statutory appropriations$50,716,900$50,716,900-$50,666,653
 Total operating expense$1,019,107,400$1,024,823,500($5,716,100)$945,397,769
 Operating assets    
2Assets$400,000$400,000-$233,578
 Total operating assets to be voted$400,000$400,000-$233,578
SAdvances, the Education Act$20,300,000$19,300,000$1,000,000$19,088,849
SAdvances, the Northern Services Boards Act$6,200,000$4,500,000$1,700,000$4,565,980
SAdvances, the Local Roads Boards Act$6,200,000$5,200,000$1,000,000$5,138,264
 Total statutory appropriations$32,700,000$29,000,000$3,700,000$28,793,093
 Total Operating assets$33,100,000$29,400,000$3,700,000$29,026,671
 Capital expense    
3Tax and Benefits$1,000$1,000--
 Total capital expense to be voted$1,000$1,000--
SAmortization, the Financial Administration Act$2,637,600$2,637,600-$2,637,609
 Total statutory appropriations$2,637,600$2,637,600-$2,637,609
 Total capital expense$2,638,600$2,638,600-$2,637,609
 Capital assets    
4Tax and Benefits$1,000$1,000--
 Total capital assets to be voted$1,000$1,000--
 Total capital assets$1,000$1,000--

Standard account by item and sub-items

Vote-item
number		Standard account by item and sub-itemsAmountAmountAmount
 Operating expense   
1209-1Tax and Benefits Administration   
 

Salaries and wages

  $79,849,100
 

Employee benefits

  $12,206,500
 

Transportation and communication

  $3,970,400
 

Services

  $168,108,600
 

Supplies and equipment

  $2,107,300
 

Transfer payments

   
 

Guaranteed Annual Income System

 $137,607,600 
 

Small Business Transition Support

 $1,000 
 

Tax Compliance Partnership Agreements

 $220,000$137,828,600
 Subtotal  $404,070,500
 Less: recoveries  $3,316,200
 Total operating expense to be voted  $400,754,300
 Sub-items:   
 Strategy, Stewardship and Program Policy   
 

Salaries and wages

 $12,581,800 
 

Employee benefits

 $2,081,400 
 

Transportation and communication

 $635,000 
 

Services

 $148,046,700 
 

Supplies and equipment

 $637,100$163,982,000
 Tax Compliance and Benefits   
 

Salaries and wages

 $67,267,300 
 

Employee benefits

 $10,125,100 
 

Transportation and communication

 $3,335,400 
 

Services

 $20,061,900 
 

Supplies and equipment

 $1,470,200 
 

Transfer payments

   
 

Guaranteed Annual Income System

$137,607,600  
 

Small Business Transition Support

$1,000  
 

Tax Compliance Partnership Agreements

$220,000$137,828,600 
 

Subtotal

 $240,088,500 
 

Less: recoveries

 $3,316,200$236,772,300
 Total operating expense to be voted  $400,754,300
1209-5Taxation Policy   
 

Salaries and wages

  $6,997,400
 

Employee benefits

  $1,030,500
 

Transportation and communication

  $211,900
 

Services

  $2,016,100
 

Supplies and equipment

  $204,100
 Total operating expense to be voted  $10,460,000
1209-6Provincial-Local Finance   
 

Salaries and wages

  $6,633,200
 

Employee benefits

  $859,100
 

Transportation and communication

  $223,000
 

Services

  $17,880,800
 

Supplies and equipment

  $115,000
 Total operating expense to be voted  $25,711,100
1209-7Municipal Support Programs   
 

Transfer payments

   
 

Ontario Municipal Partnership Fund

 $510,000,000 
 

Special Payments to Municipalities

 $16,717,100 
 

Transitional Mitigation Payment

 $4,748,000$531,465,100
 Total operating expense to be voted  $531,465,100
 Statutory appropriations   
 

Services

   
Statutory

Payments to Private Collection Agencies, the Financial Administration Act

  $5,500,000
 Statutory appropriations   
 

Other transactions

   
Statutory

Bad debt expense, the Financial Administration Act

  $45,215,900
 Statutory appropriations   
 

Transfer payments

   
Statutory

Payments Under the Tax Increment Financing Act, 2006

  $1,000
 Total operating expense for Tax, Benefits and Local Finance Program  $1,019,107,400
 Operating assets   
1209-2Assets   
 

Advances and recoverable amounts

   
 

Guaranteed Annual Income System

  $400,000
 Total operating assets to be voted  $400,000
 Statutory appropriations   
 

Advances and recoverable amounts

   
Statutory

Advances, the Education Act

  $20,300,000
 

Advances and recoverable amounts

   
Statutory

Advances, the Northern Services Boards Act

  $6,200,000
 

Advances and recoverable amounts

   
Statutory

Advances, the Local Roads Boards Act

  $6,200,000
 Total Operating assets for Tax, Benefits and Local Finance Program  $33,100,000
 Capital expense   
1209-3Tax and Benefits   
 

Other transactions

  $1,000
 Total capital expense to be voted  $1,000
 Statutory appropriations   
 

Other transactions

   
Statutory

Amortization, the Financial Administration Act

  $2,637,600
 Total capital expense for Tax, Benefits and Local Finance Program  $2,638,600
 Capital assets   
1209-4Tax and Benefits   
 

Land and marine fleet - asset costs

  $1,000
 Total capital assets to be voted  $1,000
 Total capital assets for Tax, Benefits and Local Finance Program  $1,000

Treasury Program

This program is responsible for the development, direction, operation, execution and formulation of policies for the management of the Province’s debt, investments, credit ratings, investor relations, and related financial administration activities. This is accomplished by issuing and managing debt, including Green Bonds and Ontario Savings Bonds, to complete the Province’s annual borrowing program; liaising with rating agencies on their determination of the Province’s credit rating; providing centralized banking and cash management services to the Province; reporting on the financial position of the Province to investors and the public to facilitate borrowing activities;  providing electricity sector financial analysis and support for any direct or indirect provincial liabilities and monitoring the fiscal implications; co-managing, with Ontario Power Generation, the investment activities of the Ontario Nuclear Funds; providing advice to government and broader public sector on financing initiatives and policies; provision of guarantees and loans by the Province and assistance in investments to its Crown Corporations and agencies; assisting Crown agencies and other public bodies on financial policies and projects and investing on behalf of some public bodies; and arranging custodial and fiscal agency services for the Province and certain agencies. The Ontario Financing Authority (OFA) provides a broad range of financial services to Ontario Electricity Financial Corporation (OEFC) and Ontario Infrastructure and Lands Corporation (Infrastructure Ontario).

Vote summary

Item numberItemEstimates
2018-19		Estimates
2017-18		Difference
between
2018-19
and
2017-18		Actual
2016-17
 Operating expense    
SInterest on Debt, the Financial Administration Act$12,253,092,100$11,298,251,700$954,840,400$10,614,511,218
SBad debt expense, the Financial Administration Act---$47,114,847
 Total operating expense$12,253,092,100$11,298,251,700$954,840,400$10,661,626,065

Standard account by item and sub-items

Vote-item
number		Standard account by item and sub-itemsAmountAmount
 Operating expense  
StatutoryStatutory appropriations
Interest on Debt, the Financial Administration Act		  
 

Interest on Ontario Securities

  
 

Canada Pension Plan Investment Board

$503,973,000 
 

For general purposes

$12,107,232,700 
 

Canada Mortgage and Housing Corporation

$1,621,000 
 

Ontario Immigrant Investor Corporation

$4,754,500$12,617,581,200
 

Less: Interest Capitalized in Ministry Appropriations

 $57,277,100
 

Less: Other interest, exchange, discount and commission

 ($39,229,000)
 

Less: Interest on Investments

 $800,441,000
   $11,799,092,100
 

Interest on Debt Payable to Ontario Electricity Financial Corporation

 $454,000,000
 Total operating expense for Treasury Program $12,253,092,100

Trillium Trust Program

The Trillium Trust provides for the dedication of prescribed net revenue gains / fiscal benefits from the sale of designated assets to help support investments in infrastructure, such as roads, bridges, transit and other priority infrastructure.

Vote summary

Item numberItemEstimates
2018-19		Estimates
2017-18		Difference
between
2018-19
and
2017-18		Actual
2016-17
 Capital expense    
SInfrastructure Expenditures, the Trillium Trust Act$731,425,200$288,790,600$442,634,600$250,227,012
 Total statutory appropriations$731,425,200$288,790,600$442,634,600$250,227,012
 Total capital expense$731,425,200$288,790,600$442,634,600$250,227,012
 Capital assets    
SInfrastructure Expenditures, the Trillium Trust Act$64,943,500$118,850,000($53,906,500)$11,291,973
 Total statutory appropriations$64,943,500$118,850,000($53,906,500)$11,291,973
 Total capital assets$64,943,500$118,850,000($53,906,500)$11,291,973

Standard account by item and sub-items

Vote-item
number		Standard account by item and sub-itemsAmount
 Capital expense 
 Statutory appropriations
Infrastructure Expenditures, the Trillium Trust Act		 
 

Other transactions

 
Statutory

Transfers from Trillium Trust

$731,425,200
 Total capital expense for Trillium Trust Program$731,425,200
 Capital assets 
 Statutory appropriations
Infrastructure Expenditures, the Trillium Trust Act		 
Statutory

Investments in Tangible Capital assets

$64,943,500
 Total capital assets for Trillium Trust Program$64,943,500