Ministry of Finance - THE ESTIMATES, 2006-07

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FINANCIAL SERVICES INDUSTRY REGULATION PROGRAM - VOTE 1204

The Financial Services Commission of Ontario provides for the regulation of insurance, pension plans, loan and trust companies, credit unions and caisses populaires, mortgage brokers and co-operative corporations by delivering efficient and effective regulatory services that protect consumers of financial services and support a reliable, dynamic and competitive industry. The Financial Services Commission of Ontario also makes recommendations to the Minister on matters affecting the regulated sectors. In addition, the Motor Vehicle Accident Claims Fund compensates persons injured in automobile accidents in Ontario by an uninsured, unidentified or stolen vehicle where there is no other insurance available to respond to the claim.

The Ontario Securities Commission is an independent and self-funding regulatory agency responsible for Ontario's securities laws, financing its operations through retention of its fee revenues.

VOTE SUMMARY
($)
ITEM # ITEM

Estimates
2006-07

Estimates
2005-06

Difference
Between
2006-07
and
2005-06

Actual
2004-05

  OPERATING EXPENSE        
1 Financial Services Commission of Ontario 500,000 500,000 - 44,100,944
2 Motor Vehicle Accident Claims Fund 1,000 1,000 - -
  TOTAL OPERATING EXPENSE TO BE VOTED 501,000 501,000 - 44,100,944
  Total Operating Expense 501,000 501,000 - 44,100,944



Standard Account by Item and Sub-items
($)
VOTE -ITEM
#
STANDARD ACCOUNT BY ITEM AND SUB-ITEMS      
  OPERATING EXPENSE      
1204-1 Financial Services Commission of Ontario      
  Salaries and wages     31,905,000
  Employee benefits     5,729,000
  Transportation and communication     795,000
  Services     13,634,600
  Supplies and equipment     1,308,400
  Subtotal     53,372,000
  Less: Recoveries     52,872,000
  Total Operating Expense to be Voted     500,000
1204-2 Motor Vehicle Accident Claims Fund      
  Salaries and wages     1,614,000
  Employee benefits     360,000
  Transportation and communication     64,800
  Services     4,608,700
  Supplies and equipment     85,500
  Subtotal     6,733,000
  Less: Recoveries     6,732,000
  Total Operating Expense to be Voted     1,000
  Total Operating Expense for Financial Services Industry Regulation Program     501,000