Expenditure Estimates for the Ministry of Finance (2019-20)
The 2019-2020 Expenditure Estimates set out details of the operating and capital spending requirements of the Ministry of Finance for the fiscal year commencing April 1, 2019.
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 |
Estimates |
Difference |
Actual |
|---|---|---|---|---|---|
|
|
Operating expense |
|
|
|
|
|
1201 |
$41,623,400 |
$41,730,100 |
($106,700) |
$35,726,974 |
|
|
1202 |
$23,252,600 |
$123,954,300 |
($100,701,700) |
$109,352,141 |
|
|
1203 |
$344,858,300 |
$471,772,800 |
($126,914,500) |
$844,191,581 |
|
|
1204 |
$2,327,600 |
$3,827,600 |
($1,500,000) |
$2,119,861 |
|
|
1209 |
$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 |
|
|
|
|
|
|
$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 |
$1,000 |
$1,000 |
- |
- |
|
|
1202 |
- |
$26,700,000 |
($26,700,000) |
$19,450,000 |
|
|
1203 |
- |
- |
- |
$259,038,216 |
|
|
1204 |
$1,000 |
$1,000 |
- |
- |
|
|
1209 |
$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 |
- |
$1,000 |
($1,000) |
- |
|
|
1203 |
$1,000 |
$1,000 |
- |
- |
|
|
1204 |
$1,000 |
$1,000 |
- |
- |
|
|
|
Investing in Ontario Program |
- |
$1,000 |
($1,000) |
- |
|
1209 |
$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 |
$1,000 |
$1,000 |
- |
- |
|
|
1204 |
$550,000 |
$7,369,200 |
($6,819,200) |
$798,226 |
|
|
1209 |
$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 |
2017-18 |
|---|---|---|
| Total Operating Expense previously published |
$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 |
Estimates |
Difference |
Actual |
|---|---|---|---|---|---|
|
|
|
|
|
|
|
|
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 |
|
|
|
|
|
|
|
|
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- |
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 |
Estimates |
Difference |
Actual |
|---|---|---|---|---|---|
|
|
|
|
|
|
|
|
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 |
|
|
|
|
|
|
|
|
- |
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 |
|
|
|
|
|
|
|
|
- |
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- |
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 |
Estimates |
Difference |
Actual |
|---|---|---|---|---|---|
|
|
|
|
|
|
|
|
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 |
|
|
|
|
|
|
|
|
- |
Strategic assets – loans and investments |
- |
- |
- |
$259,038,216 |
|
|
Total operating assets to be voted |
- |
- |
- |
$259,038,216 |
|
|
Total operating assets |
- |
- |
- |
$259,038,216 |
|
|
|
|
|
|
|
|
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 |
- |
- |
|
|
|
|
|
|
|
|
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- |
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 |
Estimates |
Difference |
Actual |
|---|---|---|---|---|---|
|
|
|
|
|
|
|
|
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 |
|
|
|
|
|
|
|
|
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 |
- |
- |
|
|
|
|
|
|
|
|
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) |
- |
|
|
|
|
|
|
|
|
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- |
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 |
Estimates |
Difference |
Actual |
|---|---|---|---|---|---|
|
|
|
|
|
|
|
|
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 |
|
|
|
|
|
|
|
|
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 |
|
|
|
|
|
|
|
|
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 |
|
|
|
|
|
|
|
|
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- |
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 |
Estimates |
Difference |
Actual |
|---|---|---|---|---|---|
|
|
|
|
|
|
|
|
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- |
Standard account by item and sub-items |
Amount |
Amount |
|---|---|---|---|
|
|
Operating expense |
|
|
|
Statutory |
Statutory appropriations |
|
|
|
|
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 |
Footnotes
- footnote[1] Back to paragraph *Total operating expense includes statutory appropriations, special warrants and total operating expense to be voted.