Expenditure Estimates for the Ministry of Finance (2020-21)
The 2020-2021 Expenditure Estimates set out details of the operating and capital spending requirements of the Ministry of Finance for the fiscal year commencing April 1, 2020.
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 produces the provincial budget, and manages Ontario’s fiscal relationship with the federal government, other provinces and Ontario’s municipalities. In conjunction with Treasury Board Secretariat, the ministry also manages the Consolidated Revenue Fund and provincial fiscal and financial policies, and reports on financial matters.
The ministry develops policies for Ontario's financial services sector and supports the regulation of financial services institutions and intermediaries carrying on business in the province. It reports on economic and demographic developments in the province; and provides analytical and policy support on these topics, as well as statistical leadership and monitoring of trends affecting Ontario's economic growth and job creation.
The ministry administers a number of provincial tax statutes, tax credits and benefit programs, and manages the province’s relationship with the Canada Revenue Agency.
The ministry also oversees agencies accountable to the Minister of Finance.
Ministry program summary
|
Vote |
Program |
Estimates |
Estimates |
Difference |
Actual |
|---|---|---|---|---|---|
|
|
Operating expense |
|
|
|
|
|
1201 |
$36,820,200 |
$39,933,100 |
($3,112,900) |
$34,298,596 |
|
|
1202 |
$22,234,000 |
$23,252,600 |
($1,018,600) |
$113,942,889 |
|
|
1203 |
$261,558,800 |
$344,858,300 |
($83,299,500) |
$15,982,288 |
|
|
1209 |
$984,683,000 |
$958,674,600 |
$26,008,400 |
$949,572,076 |
|
|
1212 |
$1,965,600,000 |
- |
$1,965,600,000 |
- |
|
|
- |
Financial Services Industry Regulation Program |
- |
$2,327,600 |
($2,327,600) |
$1,273,720 |
|
|
Total operating expense to be voted |
$3,270,896,000 |
$1,369,046,200 |
$1,901,849,800 |
$1,115,069,569 |
|
|
Statutory appropriations |
|
|
|
|
|
|
$12,407,133,000 |
$12,675,446,400 |
($268,313,400) |
$11,419,283,525 |
|
|
|
Other Statutory Appropriations |
$50,783,914 |
$50,783,914 |
- |
$78,181,973 |
|
|
Ministry total operating expense |
$15,728,812,914 |
$14,095,276,514 |
$1,633,536,400 |
$12,612,535,067 |
|
|
Consolidation adjustments - Investment Management Corporation of Ontario |
$160,089,900 |
- |
$160,089,900 |
$66,814,139 |
|
|
Consolidation adjustment - Ontario Financing Authority |
$27,211,300 |
$27,211,300 |
- |
$23,741,737 |
|
|
Consolidation adjustment - Ontario Electricity Financial Corporation |
($144,902,900) |
($196,450,200) |
$51,547,300 |
$178,139,605 |
|
|
Consolidation adjustment - Ontario Securities Commission |
$118,530,700 |
$112,459,600 |
$6,071,100 |
$107,217,091 |
|
|
Other adjustments - Financial Services Commission of Ontario |
- |
- |
- |
$59,218,225 |
|
|
Consolidation adjustment - General Real Estate Portfolio |
- |
($11,524,500) |
$11,524,500 |
($12,394,707) |
|
|
Consolidation adjustment – General Real Estate Portfolio for Ontario Financing Authority |
($2,169,500) |
($2,127,000) |
($42,500) |
- |
|
|
Consolidation adjustment - Financial Services Regulatory Authority of Ontario |
$94,375,000 |
$87,516,900 |
$6,858,100 |
$11,915,220 |
|
|
Consolidation adjustment - Ontario Infrastructure and Lands Corporation |
- |
- |
- |
($579,409) |
|
|
Consolidation adjustment - Treasury Program |
$979,042,700 |
$1,059,876,600 |
($80,833,900) |
$1,037,064,514 |
|
|
Consolidation adjustment - Treasury Program - Interest Capitalization for Other Sectors |
($186,847,400) |
($400,323,000) |
$213,475,600 |
($72,352,611) |
|
|
Total including consolidation & other adjustments |
$16,774,142,714 |
$14,771,916,214 |
$2,002,226,500 |
$14,011,318,871 |
|
|
Operating assets |
|
|
|
|
|
1201 |
$1,000 |
$1,000 |
- |
- |
|
|
1202 |
$20,000,000 |
- |
$20,000,000 |
$800,000 |
|
|
1209 |
$650,000 |
$450,000 |
$200,000 |
$400,000 |
|
|
- |
Financial Services Industry Regulation Program |
- |
$1,000 |
($1,000) |
- |
|
|
Total operating assets to be voted |
$20,651,000 |
$452,000 |
$20,199,000 |
$1,200,000 |
|
|
Statutory appropriations |
$37,200,000 |
$85,200,000 |
($48,000,000) |
$52,145,111 |
|
|
Ministry total operating assets |
$57,851,000 |
$85,652,000 |
($27,801,000) |
$53,345,111 |
|
|
Capital expense |
|
|
|
|
|
1203 |
$1,000 |
$1,000 |
- |
- |
|
|
1209 |
$1,000 |
$1,000 |
- |
- |
|
|
- |
Financial Services Industry Regulation Program |
- |
$1,000 |
($1,000) |
- |
|
|
Total capital expense to be voted |
$2,000 |
$3,000 |
($1,000) |
- |
|
|
Statutory appropriations |
|
|
|
|
|
|
Trillium Trust Program |
- |
- |
- |
$244,042,959 |
|
|
Other Statutory Appropriations |
$1,000 |
$2,639,600 |
($2,638,600) |
$2,637,610 |
|
|
Ministry total capital expense |
$3,000 |
$2,642,600 |
($2,639,600) |
$246,680,569 |
|
|
Consolidation adjustments - Investment Management Corporation of Ontario |
$1,000,000 |
- |
$1,000,000 |
$570,000 |
|
|
Consolidation adjustment - Ontario Financing Authority |
$645,000 |
$652,000 |
($7,000) |
$698,000 |
|
|
Consolidation adjustment - Ontario Securities Commission |
$5,836,200 |
$4,963,100 |
$873,100 |
$3,862,384 |
|
|
Other adjustments - Financial Services Commission of Ontario |
- |
- |
- |
$829,749 |
|
|
Consolidation adjustment - Financial Services Regulatory Agency (FSRA) |
$2,313,000 |
$2,762,600 |
($449,600) |
- |
|
|
Consolidation adjustment - General Real Estate Portfolio |
- |
- |
- |
($302,390) |
|
|
Consolidation adjustment - Trillium Trust Reclassification |
- |
- |
- |
($244,042,959) |
|
|
Total including consolidation & other adjustments |
$9,797,200 |
$11,020,300 |
($1,223,100) |
$8,295,353 |
|
|
Capital assets |
|
|
|
|
|
1203 |
$1,000 |
$1,000 |
- |
- |
|
|
1209 |
$1,000 |
$1,000 |
- |
- |
|
|
- |
Financial Services Industry Regulation Program |
- |
$550,000 |
($550,000) |
$683,075 |
|
|
Total capital assets to be voted |
$2,000 |
$552,000 |
($550,000) |
$683,075 |
|
|
Statutory appropriations |
|
|
|
|
|
|
Trillium Trust Program |
- |
- |
- |
$25,851,675 |
|
|
Ministry total capital assets |
$2,000 |
$552,000 |
($550,000) |
$26,534,750 |
|
|
Capital asset adjustment - Trillium Trust Reclassification |
- |
- |
- |
($25,851,675) |
|
|
Total including adjustments |
$2,000 |
$552,000 |
($550,000) |
$683,075 |
|
|
Ministry total operating and capital including consolidation and other adjustments (not including assets) |
$16,783,939,914 |
$14,782,936,514 |
$2,001,003,400 |
$14,019,614,224 |
Reconciliation to previously published data
|
Operating expense |
2019-20 |
2018-19 |
|---|---|---|
| Total operating expense previously published
|
$14,096,966,814 |
$12,613,864,982 |
| Government reorganization
|
|
|
|
Transfer of functions to other Ministries |
($1,690,300) |
($1,329,915) |
| Restated total operating expense
|
$14,095,276,514 |
$12,612,535,067 |
Ministry Administration Program - vote 1201
The Ministry Administration 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. The program manages the service relationships with Treasury Board Secretariat and other central agencies, 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 |
$36,820,200 |
$39,933,100 |
($3,112,900) |
$34,298,596 |
|
|
Total operating expense to be voted |
$36,820,200 |
$39,933,100 |
($3,112,900) |
$34,298,596 |
|
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 |
$36,885,214 |
$39,998,114 |
($3,112,900) |
$34,364,564 |
|
|
|
|
|
|
|
|
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 |
|
$18,788,100 |
|
|
Employee benefits |
|
$2,815,200 |
|
|
Transportation and communication |
|
$1,097,700 |
|
|
Services |
|
$13,285,800 |
|
|
Supplies and equipment |
|
$833,400 |
|
|
Total operating expense to be voted |
|
$36,820,200 |
|
|
Sub-items: |
|
|
|
|
Main office |
|
|
|
|
Salaries and wages |
$3,614,400 |
|
|
|
Employee benefits |
$389,600 |
|
|
|
Transportation and communication |
$305,400 |
|
|
|
Services |
$336,900 |
|
|
|
Supplies and equipment |
$77,200 |
$4,723,500 |
|
|
Financial and Administrative Services |
|
|
|
|
Salaries and wages |
$8,271,200 |
|
|
|
Employee benefits |
$1,648,300 |
|
|
|
Transportation and communication |
$428,200 |
|
|
|
Services |
$3,670,100 |
|
|
|
Supplies and equipment |
$353,900 |
$14,371,700 |
|
|
Human resources |
|
|
|
|
Salaries and wages |
$1,621,800 |
|
|
|
Employee benefits |
$308,200 |
|
|
|
Transportation and communication |
$35,200 |
|
|
|
Services |
$174,500 |
|
|
|
Supplies and equipment |
$64,800 |
$2,204,500 |
|
|
Communications services |
|
|
|
|
Salaries and wages |
$5,280,700 |
|
|
|
Employee benefits |
$469,100 |
|
|
|
Transportation and communication |
$73,600 |
|
|
|
Services |
$132,600 |
|
|
|
Supplies and equipment |
$164,100 |
$6,120,100 |
|
|
Legal services |
|
|
|
|
Transportation and communication |
$255,300 |
|
|
|
Services |
$8,971,700 |
|
|
|
Supplies and equipment |
$173,400 |
$9,400,400 |
|
|
Total operating expense to be voted |
|
$36,820,200 |
|
|
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 |
|
$36,885,214 |
|
|
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
The Regulatory Policy and Agency Relations Program provides coordination and oversight of the Ministry of Finance’s regulatory policy agenda, and related agency oversight.
This program undertakes pension and income security policy analysis and leads development of relevant legislation and regulations. It tracks emerging trends and developments and identifies the economic and fiscal implications of pension and income security policies, and supports the government in formulating major economic, fiscal and policy documents. The program also manages the government’s relationship with the Investment Management Corporation of Ontario.
This program ensures efficient regulation of the provincial financial services sector, including insurance, deposit-taking institutions, co-operatives, mortgage brokers, and the capital markets. This includes providing oversight to the Ontario Securities Commission and collaborating with other jurisdictions to facilitate the implementation of the Cooperative Capital Markets Regulatory System. The program also oversees the new Financial Services Regulatory Authority of Ontario and manages residual activities resulting from the transition and wind-down of the Financial Services Commission of Ontario and the Deposit Insurance Corporation of Ontario.
This program supports the coordination of horizontal policy development on several transformation initiatives spanning multiple ministries, including implementation of beverage alcohol and gaming modernization, and cannabis retail and distribution. It facilitates the Minister's oversight and accountability of the Liquor Control Board of Ontario, the Ontario Cannabis Retail Corporation, and the Ontario Lottery and Gaming Corporation, and manages the Ontario Deposit Return Program for beverage alcohol containers.
The ministry also provides administrative support to the Financial Services Tribunal, an adjudicative tribunal that, at the request of affected persons, holds appeals and hearings for decisions or proposed decisions, of the Chief Executive Officer of the Financial Services Regulatory Authority or from the former Financial Services Commission of Ontario, and the Deposit Insurance Corporation of Ontario.
Vote summary
|
Item number |
Item |
Estimates |
Estimates |
Difference |
Actual |
|---|---|---|---|---|---|
|
|
|
|
|
|
|
|
6 |
Income Security and Pension Policy |
$7,897,700 |
$7,855,500 |
$42,200 |
$5,885,702 |
|
7 |
Government Business Enterprise |
$9,066,500 |
$9,380,200 |
($313,700) |
$100,882,387 |
|
8 |
Financial Services Policy |
$5,268,800 |
$6,015,900 |
($747,100) |
$7,174,800 |
|
12 |
Financial Services Tribunal |
$1,000 |
$1,000 |
- |
- |
|
|
Total operating expense to be voted |
$22,234,000 |
$23,252,600 |
($1,018,600) |
$113,942,889 |
|
S |
Bad debt expense, The Financial Administration Act |
$1,000 |
- |
$1,000 |
- |
|
|
Total statutory appropriations |
$1,000 |
- |
$1,000 |
- |
|
|
Total operating expense |
$22,235,000 |
$23,252,600 |
($1,017,600) |
$113,942,889 |
|
|
|
|
|
|
|
|
9 |
Strategic Assets – Loans and Investments |
$20,000,000 |
- |
$20,000,000 |
$800,000 |
|
|
Total operating assets to be voted |
$20,000,000 |
- |
$20,000,000 |
$800,000 |
|
S |
Loans and Investments - the Financial Services Regulatory Authority of Ontario Act, 2016 |
$4,500,000 |
$52,500,000 |
($48,000,000) |
$22,612,000 |
|
|
Total statutory appropriations |
$4,500,000 |
$52,500,000 |
($48,000,000) |
$22,612,000 |
|
|
Total operating assets |
$24,500,000 |
$52,500,000 |
($28,000,000) |
$23,412,000 |
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 |
|
$5,919,600 |
|
|
Employee benefits |
|
$739,200 |
|
|
Transportation and communication |
|
$47,500 |
|
|
Services |
|
$1,136,100 |
|
|
Supplies and equipment |
|
$55,300 |
|
|
Total operating expense to be voted |
|
$7,897,700 |
|
1202-7 |
Government Business Enterprise |
|
|
|
|
Salaries and wages |
|
$4,205,300 |
|
|
Employee benefits |
|
$531,900 |
|
|
Transportation and communication |
|
$122,400 |
|
|
Services |
|
$4,310,700 |
|
|
Supplies and equipment |
|
$108,600 |
|
|
Subtotal |
|
$9,278,900 |
|
|
Less: recoveries |
|
$212,400 |
|
|
Total operating expense to be voted |
|
$9,066,500 |
|
|
Sub-items: |
|
|
|
|
Gaming Policy |
|
|
|
|
Salaries and wages |
$1,115,800 |
|
|
|
Employee benefits |
$139,900 |
|
|
|
Transportation and communication |
$43,000 |
|
|
|
Services |
$570,200 |
|
|
|
Supplies and equipment |
$38,000 |
$1,906,900 |
|
|
Alcohol and Cannabis Policy |
|
|
|
|
Salaries and wages |
$3,089,500 |
|
|
|
Employee benefits |
$392,000 |
|
|
|
Transportation and communication |
$79,400 |
|
|
|
Services |
$3,740,500 |
|
|
|
Supplies and equipment |
$70,600 |
|
|
|
Subtotal |
$7,372,000 |
|
|
|
Less: recoveries |
$212,400 |
$7,159,600 |
|
|
Total operating expense to be voted |
|
$9,066,500 |
|
1202-8 |
Financial Services Policy |
|
|
|
|
Salaries and wages |
|
$3,984,700 |
|
|
Employee benefits |
|
$579,900 |
|
|
Transportation and communication |
|
$69,200 |
|
|
Services |
|
$928,700 |
|
|
Supplies and equipment |
|
$63,100 |
|
|
Subtotal |
|
$5,625,600 |
|
|
Less: recoveries |
|
$356,800 |
|
|
Total operating expense to be voted |
|
$5,268,800 |
|
1202-12 |
Financial Services Tribunal |
|
|
|
|
Salaries and wages |
|
$203,700 |
|
|
Employee benefits |
|
$44,200 |
|
|
Transportation and communication |
|
$18,300 |
|
|
Services |
|
$1,175,200 |
|
|
Supplies and equipment |
|
$1,500 |
|
|
Subtotal |
|
$1,442,900 |
|
|
Less: recoveries |
|
$1,441,900 |
|
|
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 Regulatory Policy and Agency Relations Program |
|
$22,235,000 |
|
|
Operating assets |
|
|
|
1202-9 |
Strategic Assets – Loans and Investments |
|
|
|
|
Loans and Investments |
|
|
|
|
Other Loans – Stelco |
|
$20,000,000 |
|
|
Total operating assets to be voted |
|
$20,000,000 |
|
|
Statutory appropriations |
|
|
|
|
Loans and Investments |
|
|
|
Statutory |
Loans and Investments - the Financial Services Regulatory Authority of Ontario Act, 2016 |
|
$4,500,000 |
|
|
Total operating assets for Regulatory Policy and Agency Relations Program |
|
$24,500,000 |
Economic, Fiscal, and Financial Policy Program - vote 1203
The Economic, Fiscal and Financial Policy Program assists the government in formulating the fiscal plan and monitors and reports on the performance of the Ontario economy through the Ontario Budget, Ontario Quarterly Finances, Ontario Economic Accounts, Economic Outlook and Fiscal Review, and Ontario’s Public Accounts. It leads preparation of the Long-term Report on the Economy and contributes to the Pre-Election Report on Ontario’s Finances. This program supports, develops and implements sound economic and fiscal strategies to stimulate economic growth and job creation; and it provides financial and economic expertise and advice to support the development, implementation and assessment of the impact of government policies and programs on Ontarians. It undertakes annual population projections for use in resource allocation and planning and develops demographic forecasts for Ontario and its 49 census divisions.
This program 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 facilitates 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.
Vote summary
|
Item number |
Item |
Estimates |
Estimates |
Difference |
Actual |
|---|---|---|---|---|---|
|
|
|
|
|
|
|
|
1 |
Economic Policy |
$11,975,400 |
$12,622,300 |
($646,900) |
$12,012,713 |
|
8 |
Office of the Budget |
$4,454,400 |
$4,577,100 |
($122,700) |
$3,969,575 |
|
12 |
Ontario Electricity Financial Corporation Dedicated Electricity Earnings |
$245,129,000 |
$327,658,900 |
($82,529,900) |
- |
|
|
Total operating expense to be voted |
$261,558,800 |
$344,858,300 |
($83,299,500) |
$15,982,288 |
|
S |
Guarantees and Indemnities, the Financial Administration Act |
$1,000 |
$1,000 |
- |
- |
|
S |
Hydro One Inc., Provincial Corporate Tax Provision, the Electricity Act, 1998 |
$1,000 |
$1,000 |
- |
$21,400,000 |
|
|
Total statutory appropriations |
$2,000 |
$2,000 |
- |
$21,400,000 |
|
|
Total operating expense |
$261,560,800 |
$344,860,300 |
($83,299,500) |
$37,382,288 |
|
|
|
|
|
|
|
|
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 |
$1,127,600 |
|
|
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 |
$11,975,400 |
|
1203-8 |
Office of the Budget |
|
|
|
Salaries and wages |
$3,650,800 |
|
|
Employee benefits |
$455,100 |
|
|
Transportation and communication |
$71,800 |
|
|
Services |
$234,500 |
|
|
Supplies and equipment |
$42,200 |
|
|
Total operating expense to be voted |
$4,454,400 |
|
1203-12 |
Ontario Electricity Financial Corporation Dedicated Electricity Earnings |
|
|
|
Other transactions |
|
|
|
Electricity Sector Dedicated Income |
$245,129,000 |
|
|
Total operating expense to be voted |
$245,129,000 |
|
|
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 |
$261,560,800 |
|
|
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 |
Tax, Benefits and Local Finance Program - vote 1209
The Tax, Benefits and Local Finance Program develops the policy and legislative framework for Ontario’s taxation and benefits systems; administers Ontario tax statutes, tax and non-tax 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 are fair and effective for individuals and families in Ontario. To this end, the program provides strategic analysis and advice on personal, corporate, mining, commodity, tobacco, sales, estate administration and payroll tax policy and design.
As part of this work, the program offers front-line customer service across the province including program advice, education and outreach, as well as assistance throughout the registration and account management process. The program also 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.
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 also manages the Province’s relationship with the Canada Revenue Agency.
Vote summary
|
Item number |
Item |
Estimates |
Estimates |
Difference |
Actual |
|---|---|---|---|---|---|
|
|
|
|
|
|
|
|
1 |
Tax and Benefits Administration |
$407,038,700 |
$400,931,700 |
$6,107,000 |
$358,636,048 |
|
5 |
Taxation Policy |
$9,627,400 |
$10,377,700 |
($750,300) |
$8,142,756 |
|
6 |
Provincial-Local Finance |
$25,148,800 |
$25,672,100 |
($523,300) |
$21,788,911 |
|
7 |
Municipal Support Programs |
$542,868,100 |
$521,693,100 |
$21,175,000 |
$561,004,361 |
|
|
Total operating expense to be voted |
$984,683,000 |
$958,674,600 |
$26,008,400 |
$949,572,076 |
|
S |
Payments to Private Collection Agencies, the Financial Administration Act |
$5,500,000 |
$5,500,000 |
- |
$5,398,763 |
|
S |
Bad debt expense, the Financial Administration Act |
$45,215,900 |
$45,215,900 |
- |
$51,305,317 |
|
|
Total statutory appropriations |
$50,715,900 |
$50,715,900 |
- |
$56,704,080 |
|
|
Total operating expense |
$1,035,398,900 |
$1,009,390,500 |
$26,008,400 |
$1,006,276,156 |
|
|
|
|
|
|
|
|
2 |
Assets |
$650,000 |
$450,000 |
$200,000 |
$400,000 |
|
|
Total operating assets to be voted |
$650,000 |
$450,000 |
$200,000 |
$400,000 |
|
S |
Advances, the Education Act |
$20,300,000 |
$20,300,000 |
- |
$18,964,550 |
|
S |
Advances, the Northern Services Boards Act |
$6,200,000 |
$6,200,000 |
- |
$5,000,220 |
|
S |
Advances, the Local Roads Boards Act |
$6,200,000 |
$6,200,000 |
- |
$5,568,341 |
|
|
Total statutory appropriations |
$32,700,000 |
$32,700,000 |
- |
$29,533,111 |
|
|
Total operating assets |
$33,350,000 |
$33,150,000 |
$200,000 |
$29,933,111 |
|
|
|
|
|
|
|
|
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 |
$1,000 |
$2,638,600 |
($2,637,600) |
$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 |
|
|
$80,920,900 |
|
|
Employee benefits |
|
|
$12,384,600 |
|
|
Transportation and communication |
|
|
$3,936,000 |
|
|
Services |
|
|
$160,541,900 |
|
|
Supplies and equipment |
|
|
$2,107,300 |
|
|
Transfer payments |
|
|
|
|
|
Guaranteed Annual Income System |
|
$150,007,600 |
|
|
|
Tax Compliance Partnership Agreements |
|
$165,000 |
$150,172,600 |
|
|
Subtotal |
|
|
$410,063,300 |
|
|
Less: recoveries |
|
|
$3,024,600 |
|
|
Total operating expense to be voted |
|
|
$407,038,700 |
|
|
Sub-items: |
|
|
|
|
|
Strategy, Stewardship and Program Policy |
|
|
|
|
|
Salaries and wages |
|
$13,991,500 |
|
|
|
Employee benefits |
|
$2,302,600 |
|
|
|
Transportation and communication |
|
$635,000 |
|
|
|
Services |
|
$144,842,100 |
|
|
|
Supplies and equipment |
|
$637,100 |
$162,408,300 |
|
|
Tax compliance and benefits |
|
|
|
|
|
Salaries and wages |
|
$66,929,400 |
|
|
|
Employee benefits |
|
$10,082,000 |
|
|
|
Transportation and communication |
|
$3,301,000 |
|
|
|
Services |
|
$15,699,800 |
|
|
|
Supplies and equipment |
|
$1,470,200 |
|
|
|
Transfer payments |
|
|
|
|
|
Guaranteed Annual Income System |
$150,007,600 |
|
|
|
|
Tax Compliance Partnership Agreements |
$165,000 |
$150,172,600 |
|
|
|
Subtotal |
|
$247,655,000 |
|
|
|
Less: recoveries |
|
$3,024,600 |
$244,630,400 |
|
|
Total operating expense to be voted |
|
|
$407,038,700 |
|
1209-5 |
Taxation Policy |
|
|
|
|
|
Salaries and wages |
|
|
$6,997,400 |
|
|
Employee benefits |
|
|
$1,030,500 |
|
|
Transportation and communication |
|
|
$211,900 |
|
|
Services |
|
|
$1,183,500 |
|
|
Supplies and equipment |
|
|
$204,100 |
|
|
Total operating expense to be voted |
|
|
$9,627,400 |
|
1209-6 |
Provincial-Local Finance |
|
|
|
|
|
Salaries and wages |
|
|
$6,633,200 |
|
|
Employee benefits |
|
|
$859,100 |
|
|
Transportation and communication |
|
|
$223,000 |
|
|
Services |
|
|
$17,318,500 |
|
|
Supplies and equipment |
|
|
$115,000 |
|
|
Total operating expense to be voted |
|
|
$25,148,800 |
|
1209-7 |
Municipal Support Programs |
|
|
|
|
|
Transfer payments |
|
|
|
|
|
Ontario Municipal Partnership Fund |
|
$501,850,000 |
|
|
|
Ontario Cannabis Legalization Implementation Fund Contingency |
|
$20,000,000 |
|
|
|
Special Payments to Municipalities |
|
$16,693,100 |
|
|
|
Transitional Mitigation Payment |
|
$4,325,000 |
$542,868,100 |
|
|
Total operating expense to be voted |
|
|
$542,868,100 |
|
|
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 |
|
|
$1,035,398,900 |
|
|
Operating assets |
|
|
|
|
1209-2 |
Assets |
|
|
|
|
|
Advances and recoverable amounts |
|
|
|
|
|
Guaranteed Annual Income System |
|
|
$650,000 |
|
|
Total operating assets to be voted |
|
|
$650,000 |
|
|
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 |
|
|
$33,350,000 |
|
|
Capital expense |
|
|
|
|
1209-3 |
Tax and benefits |
|
|
|
|
|
Other transactions |
|
|
$1,000 |
|
|
Total capital expense to be voted |
|
|
$1,000 |
|
|
Total capital expense for Tax, Benefits and Local Finance Program |
|
|
$1,000 |
|
|
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 |
$12,407,133,000 |
$12,675,446,400 |
($268,313,400) |
$11,419,283,525 |
|
|
Total operating expense |
$12,407,133,000 |
$12,675,446,400 |
($268,313,400) |
$11,419,283,525 |
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 |
$12,444,753,400 |
|
|
|
Canada Pension Plan Investment Board |
$414,436,000 |
|
|
|
Canada Mortgage and Housing Corporation |
$107,000 |
|
|
|
Ontario Immigrant Investor Corporation |
$764,900 |
$12,860,061,300 |
|
|
Less: interest capitalized in Ministry appropriations |
|
$47,168,300 |
|
|
Less: other interest, exchange, discount and commission |
|
($100,017,000) |
|
|
Less: interest on investments |
|
$902,962,000 |
|
|
|
|
$12,009,948,000 |
|
|
Interest on debt Payable to Ontario Electricity Financial Corporation |
|
$397,185,000 |
|
|
Total operating expense for Treasury Program |
|
$12,407,133,000 |
Support for People and Jobs Program - vote 1212
The COVID-19 Response: Support for People and Jobs Fund was created on March 25, 2020 to support immediate and medium-term COVID-19 recovery efforts. The Fund is held centrally in the Ministry of Finance and is intended to support people by providing direct support to vulnerable groups, communities or families financially impacted by COVID-19, as well as to protect jobs by helping support the economic viability of employers and economic recovery and growth once the spread of COVID-19 is contained.
Vote summary
|
Item number |
Item |
Estimates |
Estimates |
Difference |
Actual |
|---|---|---|---|---|---|
|
|
|
|
|
|
|
|
1 |
COVID-19 Response: Support for People and Jobs Fund |
$1,965,600,000 |
- |
$1,965,600,000 |
- |
|
|
Total operating expense to be voted |
$1,965,600,000 |
- |
$1,965,600,000 |
- |
|
|
Total operating expense |
$1,965,600,000 |
- |
$1,965,600,000 |
- |
Standard account by item and sub-items
|
Vote- |
Standard account by item and sub-items |
Amount |
|---|---|---|
|
|
Operating expense |
|
|
1212-1 |
COVID-19 Response: Support for People and Jobs Fund |
|
|
|
Other transactions |
$1,965,600,000 |
|
|
Total operating expense to be voted |
$1,965,600,000 |
|
|
Total operating expense for Support for People and Jobs Program |
$1,965,600,000 |
Footnotes
- footnote[1] Back to paragraph Total operating expense includes statutory appropriations, special warrants and total operating expense to be voted.