Ministry of Finance - THE ESTIMATES, 2007-08 - Summary

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Ministry of Finance - THE ESTIMATES, 2007-08 - Summary

The Ontario Ministry of Finance manages the economic, fiscal, and financial policies of the Government of Ontario. To do this, the ministry develops economic and fiscal strategies, plans and manages government operating and capital expenditures, develops tax policies, produces the provincial budget, and supports the Treasury Board/Management Board of Cabinet. The ministry also manages the Consolidated Revenue Fund, including raising money, establishing the government's financial controls, and reports on financial matters. In addition, it manages the government's Internal Audit function, develops policies for Ontario's financial services sector and supports the regulation of institutions and intermediaries carrying on business in the province.

MINISTRY PROGRAM SUMMARY
($)
VOTE PROGRAM

Estimates
2007-08

Estimates
2006-07

Difference
Between
2007-08
and
2006-07

Actual
2005-06

  OPERATING EXPENSE        
1201   Ministry Administration Program 148,913,400 134,735,800 14,177,600 95,317,256
1202   Tax Policy and Budget Program 13,049,200 12,824,000 225,200 8,892,658
1203   Economic, Fiscal, and Financial Policy Program 1,670,330,600 2,947,247,600 (1,276,917,000) 982,683,618
1204   Financial Services Industry Regulation Program 6,501,000 501,000 6,000,000 96,561
1207   Results Office 3,117,200 3,117,200 - 2,255,434
   Less: Special Warrants 429,300,000 - 429,300,000 -
  TOTAL OPERATING EXPENSE TO BE VOTED 1,412,611,400 3,098,425,600 (1,685,814,200) 1,089,245,527
   Special Warrants 429,300,000 - 429,300,000 -
Statutory Appropriations        
   Treasury Program 7,926,000,000 8,171,510,000 (245,510,000) 7,809,059,086
   Other Statutory Appropriations 64,699 665,244 (600,545) 55,247,632
  Ministry Total Operating Expense 9,767,976,099 11,270,600,844 (1,502,624,745) 8,953,552,245
   Net Consolidation Adjustment - Ontario Financing Authority 16,095,000 15,944,000 151,000 14,244,000
   Net Consolidation Adjustment - Ontario Securities Commission 68,160,000 68,170,000 (10,000) 60,504,265
   Net Consolidation Adjustment - Ontario Electricity Financial Corporation 889,000,000 1,092,000,000 (203,000,000) 937,751,815
   Net Consolidations - Treasury Program 1,196,700,000 1,257,781,000 (61,081,000) 1,210,413,318
   Net Consolidation Adjustment - Hospitals (26,700,000) (13,399,700) (13,300,300) (4,147,411)
   Consolidation and Other Adjustments - - - (57,026,634)
  Total Including Consolidation & Other Adjustments 11,911,231,099 13,691,096,144 (1,779,865,045) 11,115,291,598
           
  OPERATING ASSETS        
1203   Economic, Fiscal, and Financial Policy Program - - - 67,500,000
  TOTAL OPERATING ASSETS TO BE VOTED - - - 67,500,000
  Ministry Total Operating Assets - - - 67,500,000
           
  CAPITAL EXPENSE        
   Net Consolidation Adjustment - Ontario Financing Authority 1,600,000 1,700,000 (100,000) 1,378,000
   Net Consolidation Adjustment - Ontario Securities Commission 2,040,000 1,920,000 120,000 2,329,622
  Total Including Consolidation & Other Adjustments 3,640,000 3,620,000 20,000 3,707,622
           
  Ministry Total Operating and Capital Including Consolidation and Other Adjustments (not including Assets) 11,914,871,099 13,694,716,144 (1,779,845,045) 11,118,999,220

RECONCILIATION TO PREVIOUSLY PUBLISHED DATA