Summary

The Ministry of Finance supports the economic, fiscal, 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, 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

Vote

Program

Estimates
2019-20

Estimates
2018-19

Difference
between
2019-20
and
2018-19

Actual
2017-18

 

Operating expense

 

 

 

 

1201

Ministry Administration Program

$41,623,400

$41,730,100

($106,700)

$35,726,974

1202

Regulatory Policy and Agency Relations Program

$23,252,600

$123,954,300

($100,701,700)

$109,352,141

1203

Economic, Fiscal, and Financial Policy Program

$344,858,300

$471,772,800

($126,914,500)

$844,191,581

1204

Financial Services Industry Regulation Program

$2,327,600

$3,827,600

($1,500,000)

$2,119,861

1209

Tax, Benefits and Local Finance Program

$958,674,600

$988,390,500

($29,715,900)

$901,559,571

 

Total operating expense to be voted

$1,370,736,500

$1,629,675,300

($258,938,800)

$1,892,950,128

 

Statutory appropriations

 

 

 

 

 

Treasury Program

$12,675,446,400

$12,253,092,100

$422,354,300

$10,845,562,968

 

Other statutory appropriations

$50,783,914

$50,784,914

($1,000)

$639,415,847

 

Ministry total operating expense

$14,096,966,814

$13,933,552,314

$163,414,500

$13,377,928,943

 

Consolidation adjustment - Ontario Financing Authority

$27,211,300

$27,211,300

-

$24,963,000

 

Consolidation adjustment - Ontario Securities Commission

$112,459,600

$110,225,900

$2,233,700

$99,601,399

 

Consolidation adjustment - Ontario Electricity Financial Corporation

($196,450,200)

($259,326,900)

$62,876,700

($1,156,239,827)

 

Other adjustments - Financial Services Commission of Ontario

-

$75,494,400

($75,494,400)

$55,075,644

 

Consolidation adjustment - Financial Services Regulatory Authority of Ontario

$87,516,900

$36,342,300

$51,174,600

$2,764,000

 

Consolidation adjustment - Treasury Program

$1,059,876,600

$688,155,100

$371,721,500

$1,164,540,565

 

Consolidation adjustment - Treasury Program - Interest Capitalization for Other Sectors

($400,323,000)

($398,495,500)

($1,827,500)

($107,732,604)

 

Total Including Consolidation & Other Adjustments

$14,787,258,014

$14,213,158,914

$574,099,100

$13,460,901,120

 

Operating assets

 

 

 

 

1201

Ministry Administration Program

$1,000

$1,000

-

-

1202

Regulatory Policy and Agency Relations Program

-

$26,700,000

($26,700,000)

$19,450,000

1203

Economic, Fiscal, and Financial Policy Program

-

-

-

$259,038,216

1204

Financial Services Industry Regulation Program

$1,000

$1,000

-

-

1209

Tax, Benefits and Local Finance Program

$450,000

$400,000

$50,000

$381,862

 

Total operating assets to be voted

$452,000

$27,102,000

($26,650,000)

$278,870,078

 

Statutory appropriations

$85,200,000

$67,640,000

$17,560,000

$46,912,694

 

Ministry total operating assets

$85,652,000

$94,742,000

($9,090,000)

$325,782,772

 

Capital expense

 

 

 

 

1202

Regulatory Policy and Agency Relations Program

-

$1,000

($1,000)

-

1203

Economic, Fiscal, and Financial Policy Program

$1,000

$1,000

-

-

1204

Financial Services Industry Regulation Program

$1,000

$1,000

-

-

 

Investing in Ontario Program

-

$1,000

($1,000)

-

1209

Tax, Benefits and Local Finance Program

$1,000

$1,000

-

-

 

Total capital expense to be voted

$3,000

$5,000

($2,000)

-

 

Statutory appropriations

 

 

 

 

 

Trillium Trust Program

-

$731,425,200

($731,425,200)

$218,379,667

 

Other statutory appropriations

$2,639,600

$2,640,600

($1,000)

$2,637,609

 

Ministry total capital expense

$2,642,600

$734,070,800

($731,428,200)

$221,017,276

 

Capital expense adjustment - Trillium Trust Reclassification

-

($731,425,200)

$731,425,200

($218,379,667)

 

Consolidation adjustment - Ontario Financing Authority

$652,000

$770,000

($118,000)

$768,000

 

Consolidation adjustment - Ontario Securities Commission

$4,963,100

$4,061,300

$901,800

$3,906,597

 

Other adjustments - Financial Services Commission of Ontario

-

-

-

$729,468

 

Capital expense adjustment – Cap and Trade Wind Down Account Reclassification

-

$1,069,000

($1,069,000)

-

 

Consolidation adjustment - Financial Services Regulatory Authority of Ontario

$2,762,600

-

$2,762,600

-

 

Total Including Consolidation & Other Adjustments

$11,020,300

$8,545,900

$2,474,400

$8,041,674

 

Capital assets

 

 

 

 

1203

Economic, Fiscal, and Financial Policy Program

$1,000

$1,000

-

-

1204

Financial Services Industry Regulation Program

$550,000

$7,369,200

($6,819,200)

$798,226

1209

Tax, Benefits and Local Finance Program

$1,000

$1,000

-

-

 

Total capital assets to be voted

$552,000

$7,371,200

($6,819,200)

$798,226

 

Statutory appropriations

 

 

 

 

 

Trillium Trust Program

-

$64,943,500

($64,943,500)

$20,552,190

 

Ministry total capital assets

$552,000

$72,314,700

($71,762,700)

$21,350,416

 

Capital asset adjustment - Trillium Trust Reclassification

-

($64,943,500)

$64,943,500

($20,552,190)

 

Total including adjustments

$552,000

$7,371,200

($6,819,200)

$798,226

 

Ministry total operating and capital including consolidation and other adjustments (not including assets)

$14,798,278,314

$14,221,704,814

$576,573,500

$13,468,942,794

Operating expense

2018-19
Estimates

2017-18
Actual

Total Operating Expense previously publishedfootnote 1

$13,933,553,314

$13,377,928,943

Government reorganization

 

 

Transfer of functions to other Ministries

($1,000)

-

Restated total operating expense$13,933,552,314$13,377,928,943

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 number

Item

Estimates
2019-20

Estimates
2018-19

Difference
between
2019-20
and
2018-19

Actual
2017-18

 

Operating expense

 

 

 

 

1

Ministry Administration

$41,623,400

$41,730,100

($106,700)

$35,726,974

 

Total operating expense to be voted

$41,623,400

$41,730,100

($106,700)

$35,726,974

S

Minister's Salary, the Executive Council Act

$47,841

$47,841

-

$49,301

S

Parliamentary assistant's salary, the Executive Council Act

$16,173

$16,173

-

$16,667

S

Bad debt expense, the Financial Administration Act

$1,000

$1,000

-

-

 

Total statutory appropriations

$65,014

$65,014

-

$65,968

 

Total operating expense

$41,688,414

$41,795,114

($106,700)

$35,792,942

 

Operating assets

 

 

 

 

10

Accounts 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-items

Amount

Amount

 

Operating expense

 

 

1201-1

Ministry Administration

 

 

 

Salaries and wages

 

$18,710,500

 

Employee benefits

 

$2,801,200

 

Transportation and communication

 

$1,131,300

 

Services

 

$18,130,200

 

Supplies and equipment

 

$850,200

 

Total operating expense to be voted

 

$41,623,400

 

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

$8,193,600

 

 

Employee benefits

$1,634,300

 

 

Transportation and communication

$428,200

 

 

Services

$7,041,300

 

 

Supplies and equipment

$353,900

$17,651,300

 

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

$160,400

 

 

Supplies and equipment

$164,100

$6,147,900

 

Legal Services

 

 

 

Transportation and communication

$255,300

 

 

Services

$8,777,800

 

 

Supplies and equipment

$173,400

$9,206,500

 

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

 

$41,623,400

 

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

 

$41,688,414

 

Operating assets

 

 

1201-10

Accounts 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. This program is also responsible for facilitating the Minister's oversight and accountability of the Liquor Control Board of Ontario, the Ontario Cannabis Retail Corporation, the Ontario Lottery and Gaming Corporation, including the horse-racing sector, and for managing the Ontario Deposit Return Program for beverage alcohol containers.

The Financial Services Tribunal is an adjudicative tribunal that, at the request of affected persons, reviews proposed decisions of, and hears appeals of decisions made by the Deposit Insurance Corporation of Ontario and the Superintendent of Financial Services.

Vote summary

Item number

Item

Estimates
2019-20

Estimates
2018-19

Difference
between
2019-20
and
2018-19

Actual
2017-18

 

Operating expense

 

 

 

 

6

Income Security and Pension Policy

$7,855,500

$7,719,800

$135,700

$5,994,133

7

Government Business Enterprise

$9,380,200

$104,917,100

($95,536,900)

$97,697,331

8

Financial Services Policy

$6,015,900

$11,316,400

($5,300,500)

$5,660,677

12

Financial Services Tribunal

$1,000

$1,000

-

-

 

Total operating expense to be voted

$23,252,600

$123,954,300

($100,701,700)

$109,352,141

 

Total operating expense

$23,252,600

$123,954,300

($100,701,700)

$109,352,141

 

Operating assets

 

 

 

 

-

Strategic assets – loans and investments

-

$26,700,000

($26,700,000)

$19,450,000

 

Total operating assets to be voted

-

$26,700,000

($26,700,000)

$19,450,000

S

Loans and investments - the Financial Services Regulatory Authority of Ontario Act, 2016

$52,500,000

$34,940,000

$17,560,000

$17,388,000

 

Total statutory appropriations

$52,500,000

$34,940,000

$17,560,000

$17,388,000

 

Total operating assets

$52,500,000

$61,640,000

($9,140,000)

$36,838,000

 

Capital expense

 

 

 

 

-

Regulatory 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-items

Amount

Amount

 

Operating expense

 

 

1202-6

Income Security and Pension Policy

 

 

 

Salaries and wages

 

$5,867,300

 

Employee benefits

 

$732,000

 

Transportation and communication

 

$47,500

 

Services

 

$1,153,400

 

Supplies and equipment

 

$55,300

 

Total operating expense to be voted

 

$7,855,500

1202-7

Government Business Enterprise

 

 

 

Salaries and wages

 

$4,338,900

 

Employee benefits

 

$550,000

 

Transportation and communication

 

$119,700

 

Services

 

$3,683,000

 

Supplies and equipment

 

$108,000

 

Transfer payments

 

 

 

Horse Racing Partnership Funding Program

 

$793,000

 

Subtotal

 

$9,592,600

 

Less: recoveries

 

$212,400

 

Total operating expense to be voted

 

$9,380,200

 

Sub-items:

 

 

 

Alcohol Policy

 

 

 

Salaries and wages

$1,927,700

 

 

Employee benefits

$247,700

 

 

Transportation and communication

$41,700

 

 

Services

$2,481,800

 

 

Supplies and equipment

$40,000

 

 

Subtotal

$4,738,900

 

 

Less: recoveries

$212,400

$4,526,500

 

Cannabis Policy

 

 

 

Salaries and wages

$1,200,000

 

 

Employee benefits

$150,000

 

 

Transportation and communication

$35,000

 

 

Services

$600,000

 

 

Supplies and equipment

$30,000

$2,015,000

 

Gaming Policy

 

 

 

Salaries and wages

$1,211,200

 

 

Employee benefits

$152,300

 

 

Transportation and communication

$43,000

 

 

Services

$601,200

 

 

Supplies and equipment

$38,000

 

 

Transfer payments

 

 

 

Horse Racing Partnership Funding Program

$793,000

$2,838,700

 

Total operating expense to be voted

 

$9,380,200

1202-8

Financial Services Policy

 

 

 

Salaries and wages

 

$4,150,500

 

Employee benefits

 

$592,200

 

Transportation and communication

 

$78,900

 

Services

 

$1,121,300

 

Supplies and equipment

 

$73,000

 

Total operating expense to be voted

 

$6,015,900

1202-12

Financial Services Tribunal

 

 

 

Salaries and wages

 

$190,400

 

Employee benefits

 

$41,300

 

Transportation and communication

 

$18,300

 

Services

 

$1,282,100

 

Supplies and equipment

 

$1,500

 

Subtotal

 

$1,533,600

 

Less: recoveries

 

$1,532,600

 

Total operating expense to be voted

 

$1,000

 

Total operating expense for Regulatory Policy and Agency Relations Program

 

$23,252,600

 

Operating assets

 

 

 

Statutory appropriations

 

 

Statutory

Loans and Investments - the Financial Services Regulatory Authority of Ontario Act, 2016

 

 

 

Loans and investments

 

$52,500,000

 

Total operating assets for Regulatory Policy and Agency Relations Program

 

$52,500,000

Economic, Fiscal, and Financial Policy Program - vote 1203

This program develops and implements sound economic and fiscal strategies to stimulate economic growth and job creation; forecasts, monitors and reports on the performance of the Ontario economy and revenues; 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 fiscal 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 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.

Vote summary

Item number

Item

Estimates
2019-20

Estimates
2018-19

Difference
between
2019-20
and
2018-19

Actual
2017-18

 

Operating expense

 

 

 

 

1

Economic Policy

$12,622,300

$13,122,300

($500,000)

$11,494,566

8

Office of the Budget

$4,577,100

$9,538,400

($4,961,300)

$3,197,015

12

Ontario Electricity Financial Corporation Dedicated Electricity Earnings

$327,658,900

$449,112,100

($121,453,200)

$829,500,000

 

Total operating expense to be voted

$344,858,300

$471,772,800

($126,914,500)

$844,191,581

S

Guarantees and indemnities, the Financial Administration Act

$1,000

$1,000

-

-

S

Ontario Electricity Financial Corporation Financial Benefit – asset optimization, the Electricity Act, 1998

-

-

-

$531,450,818

S

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

$1,000

$1,000

-

$23,700,000

 

Total statutory appropriations

$2,000

$2,000

-

$555,150,818

 

Total operating expense

$344,860,300

$471,774,800

($126,914,500)

$1,399,342,399

 

Operating assets

 

 

 

 

-

Strategic assets – loans and investments

-

-

-

$259,038,216

 

Total operating assets to be voted

-

-

-

$259,038,216

 

Total operating assets

-

-

-

$259,038,216

 

Capital expense

 

 

 

 

14

Economic, Fiscal, and Financial Policy Program

$1,000

$1,000

-

-

 

Total capital expense to be voted

$1,000

$1,000

-

-

S

Amortization, the Financial Administration Act

$1,000

$1,000

-

-

 

Total statutory appropriations

$1,000

$1,000

-

-

 

Total capital expense

$2,000

$2,000

-

-

 

Capital assets

 

 

 

 

13

Economic, 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-items

Amount

 

Operating expense

 

1203-1

Economic 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

$1,000

 

Total operating expense to be voted

$12,622,300

1203-8

Office of the Budget

 

 

Salaries and wages

$3,616,600

 

Employee benefits

$449,000

 

Transportation and communication

$71,800

 

Services

$397,500

 

Supplies and equipment

$42,200

 

Total operating expense to be voted

$4,577,100

1203-12

Ontario Electricity Financial Corporation Dedicated Electricity Earnings

 

 

Other transactions

 

 

Electricity Sector Dedicated Income

$327,658,900

 

Total operating expense to be voted

$327,658,900

 

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

$344,860,300

 

Capital expense

 

1203-14

Economic, 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

 

1203-13

Economic, 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. 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.

Vote summary

Item number

Item

Estimates
2019-20

Estimates
2018-19

Difference
between
2019-20
and
2018-19

Actual
2017-18

 

Operating expense

 

 

 

 

1

Financial Services Commission of Ontario

$2,327,600

$3,827,600

($1,500,000)

$2,119,861

 

Total operating expense to be voted

$2,327,600

$3,827,600

($1,500,000)

$2,119,861

S

Bad debt expense, the Financial Administration Act

$1,000

$1,000

-

$85,968

 

Total statutory appropriations

$1,000

$1,000

-

$85,968

 

Total operating expense

$2,328,600

$3,828,600

($1,500,000)

$2,205,829

 

Operating assets

 

 

 

 

5

Financial 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

 

 

 

 

4

Financial Services Industry Regulation Program

$1,000

$1,000

-

-

 

Total capital expense to be voted

$1,000

$1,000

-

-

S

Amortization, the Financial Administration Act

$1,000

$1,000

-

-

S

Loss on Asset Disposal, the Financial Administration Act

-

$1,000

($1,000)

-

 

Total statutory appropriations

$1,000

$2,000

($1,000)

-

 

Total capital expense

$2,000

$3,000

($1,000)

-

 

Capital assets

 

 

 

 

3

Financial Services Industry Regulation Program

$550,000

$7,369,200

($6,819,200)

$798,226

 

Total capital assets to be voted

$550,000

$7,369,200

($6,819,200)

$798,226

 

Total capital assets

$550,000

$7,369,200

($6,819,200)

$798,226

Standard account by item and sub-items

Vote-
item
number

Standard account by item and sub-items

Amount

 

Operating expense

 

1204-1

Financial Services Commission of Ontario

 

 

Salaries and wages

$41,182,500

 

Employee benefits

$10,020,800

 

Transportation and communication

$897,100

 

Services

$24,988,700

 

Supplies and equipment

$381,800

 

Subtotal

$77,470,900

 

Less: recoveries

$75,143,300

 

Total operating expense to be voted

$2,327,600

 

Statutory appropriations

 

 

Other transactions

 

Statutory

Bad debt expense, the Financial Administration Act

$1,000

 

Total operating expense for Financial Services Industry Regulation Program

$2,328,600

 

Operating assets

 

1204-5

Financial 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

 

1204-4

Financial 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

$1,021,800

 

Less: recoveries

$1,020,800

 

Total capital expense for Financial Services Industry Regulation Program

$2,000

 

Capital assets

 

1204-3

Financial Services Industry Regulation Program

 

 

Information technology hardware

$550,000

 

Total capital assets to be voted

$550,000

 

Total capital assets for Financial Services Industry Regulation Program

$550,000

Tax, Benefits and Local Finance Program - vote 1209

This program develops the policy and legislative framework for Ontario’s taxation and benefits systems; supports ministries to analyse and design income-testing; administers Ontario tax statutes, revenue programs 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, delivers key benefit programs for low-income seniors and families, as well as income verification services to other benefit programs, and conducts research and analysis of tax compliance. 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.

Vote summary

Item number

Item

Estimates
2019-20

Estimates
2018-19

Difference
between
2019-20
and
2018-19

Actual
2017-18

 

Operating expense

 

 

 

 

1

Tax and Benefits Administration

$400,931,700

$400,754,300

$177,400

$343,572,492

5

Taxation Policy

$10,377,700

$10,460,000

($82,300)

$8,498,624

6

Provincial-local finance

$25,672,100

$25,711,100

($39,000)

$22,185,305

7

Municipal Support Programs

$521,693,100

$551,465,100

($29,772,000)

$527,303,150

 

Total operating expense to be voted

$958,674,600

$988,390,500

($29,715,900)

$901,559,571

S

Payments to private collection agencies, the Financial Administration Act

$5,500,000

$5,500,000

-

$5,511,254

S

Bad debt expense, the Financial Administration Act

$45,215,900

$45,215,900

-

$78,601,839

S

Payments under the Tax Increment Financing Act, 2006

-

$1,000

($1,000)

-

 

Total statutory appropriations

$50,715,900

$50,716,900

($1,000)

$84,113,093

 

Total operating expense

$1,009,390,500

$1,039,107,400

($29,716,900)

$985,672,664

 

Operating assets

 

 

 

 

2

Assets

$450,000

$400,000

$50,000

$381,862

 

Total operating assets to be voted

$450,000

$400,000

$50,000

$381,862

S

Advances, the Education Act

$20,300,000

$20,300,000

-

$19,065,883

S

Advances, the Northern Services Boards Act

$6,200,000

$6,200,000

-

$5,052,470

S

Advances, the Local Roads Boards Act

$6,200,000

$6,200,000

-

$5,406,341

 

Total statutory appropriations

$32,700,000

$32,700,000

-

$29,524,694

 

Total operating assets

$33,150,000

$33,100,000

$50,000

$29,906,556

 

Capital expense

 

 

 

 

3

Tax and benefits

$1,000

$1,000

-

-

 

Total capital expense to be voted

$1,000

$1,000

-

-

S

Amortization, 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

 

 

 

 

4

Tax 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-items

Amount

Amount

Amount

 

Operating expense

 

 

 

1209-1

Tax and Benefits Administration

 

 

 

 

Salaries and wages

 

 

$80,461,100

 

Employee benefits

 

 

$12,317,700

 

Transportation and communication

 

 

$3,936,000

 

Services

 

 

$167,306,600

 

Supplies and equipment

 

 

$2,107,300

 

Transfer payments

 

 

 

 

Guaranteed Annual Income System

 

$137,607,600

 

 

Tax Compliance Partnership Agreements

 

$220,000

$137,827,600

 

Subtotal

 

 

$403,956,300

 

Less: recoveries

 

 

$3,024,600

 

Total operating expense to be voted

 

 

$400,931,700

 

Sub-items:

 

 

 

 

Strategy, Stewardship and Program Policy

 

 

 

 

Salaries and wages

 

$13,525,000

 

 

Employee benefits

 

$2,234,500

 

 

Transportation and communication

 

$635,000

 

 

Services

 

$145,762,700

 

 

Supplies and equipment

 

$637,100

$162,794,300

 

Tax Compliance and Benefits

 

 

 

 

Salaries and wages

 

$66,936,100

 

 

Employee benefits

 

$10,083,200

 

 

Transportation and communication

 

$3,301,000

 

 

Services

 

$21,543,900

 

 

Supplies and equipment

 

$1,470,200

 

 

Transfer payments

 

 

 

 

Guaranteed Annual Income System

$137,607,600

 

 

 

Tax Compliance Partnership Agreements

$220,000

$137,827,600

 

 

Subtotal

 

$241,162,000

 

 

Less: recoveries

 

$3,024,600

$238,137,400

 

Total operating expense to be voted

 

 

$400,931,700

1209-5

Taxation Policy

 

 

 

 

Salaries and wages

 

 

$6,997,400

 

Employee benefits

 

 

$1,030,500

 

Transportation and communication

 

 

$211,900

 

Services

 

 

$1,933,800

 

Supplies and equipment

 

 

$204,100

 

Total operating expense to be voted

 

 

$10,377,700

1209-6

Provincial-Local Finance

 

 

 

 

Salaries and wages

 

 

$6,633,200

 

Employee benefits

 

 

$859,100

 

Transportation and communication

 

 

$223,000

 

Services

 

 

$17,841,800

 

Supplies and equipment

 

 

$115,000

 

Total operating expense to be voted

 

 

$25,672,100

1209-7

Municipal Support Programs

 

 

 

 

Transfer payments

 

 

 

 

Ontario Municipal Partnership Fund

 

$505,000,000

 

 

Special Payments to Municipalities

 

$6,693,100

 

 

Ontario Cannabis Legalization Implementation Fund

 

$10,000,000

$521,693,100

 

Total operating expense to be voted

 

 

$521,693,100

 

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

 

Total operating expense for Tax, Benefits and Local Finance Program

 

 

$1,009,390,500

 

Operating assets

 

 

 

1209-2

Assets

 

 

 

 

Advances and recoverable amounts

 

 

 

 

Guaranteed Annual Income System

 

 

$450,000

 

Total operating assets to be voted

 

 

$450,000

 

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

 

 

$33,150,000

 

Capital expense

 

 

 

1209-3

Tax 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

 

 

 

1209-4

Tax 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, 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 number

Item

Estimates
2019-20

Estimates
2018-19

Difference
between
2019-20
and
2018-19

Actual
2017-18

 

Operating expense

 

 

 

 

S

Interest on debt, the Financial Administration Act

$12,675,446,400

$12,253,092,100

$422,354,300

$10,845,562,968

 

Total operating expense

$12,675,446,400

$12,253,092,100

$422,354,300

$10,845,562,968

Standard account by item and sub-items

Vote-
item
number

Standard account by item and sub-items

Amount

Amount

 

Operating expense

 

 

Statutory

Statutory appropriations
interest on debt, the Financial Administration Act

 

 

 

Interest on Ontario Securities

 

 

 

For general purposes

$12,701,757,800

 

 

Canada Pension Plan Investment Board

$469,742,000

 

 

Canada Mortgage and Housing Corporation

$590,000

 

 

Ontario Immigrant Investor Corporation

$778,900

$13,172,868,700

 

Less: Interest Capitalized in Ministry Appropriations

 

$74,378,300

 

Less: other interest, exchange, discount and commission

 

($111,118,000)

 

Less: interest on investments

 

$938,162,000

 

 

 

$12,271,446,400

 

Interest on debt payable to Ontario Electricity Financial Corporation

 

$404,000,000

 

Total operating expense for Treasury Program

 

$12,675,446,400