FINANCIAL SERVICES INDUSTRY REGULATION PROGRAM - VOTE 1204

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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
2007-08

Estimates
2006-07

Difference
Between
2007-08
and
2006-07

Actual
2005-06

  OPERATING EXPENSE        
1 Financial Services Commission of Ontario 6,500,000 500,000 6,000,000 96,561
2 Motor Vehicle Accident Claims Fund 1,000 1,000 - -
  TOTAL OPERATING EXPENSE TO BE VOTED 6,501,000 501,000 6,000,000 96,561
  Total Operating Expense 6,501,000 501,000 6,000,000 96,561



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     32,051,000
  Employee benefits     6,015,000
  Transportation and communication     795,000
  Services     14,463,700
  Supplies and equipment     1,308,500
  Subtotal     54,633,200
  Less: Recoveries     48,133,200
  Total Operating Expense to be Voted     6,500,000
1204-2 Motor Vehicle Accident Claims Fund      
  Salaries and wages     1,630,000
  Employee benefits     363,600
  Transportation and communication     64,800
  Services     4,702,600
  Supplies and equipment     85,500
  Subtotal     6,846,500
  Less: Recoveries     6,845,500
  Total Operating Expense to be Voted     1,000
  Total Operating Expense for Financial Services Industry Regulation Program     6,501,000