ECONOMIC, FISCAL, AND FINANCIAL POLICY PROGRAM - VOTE 1203

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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; provides expertise and policy advice on sound economic design of government initiatives; develops demographic forecasts for Ontario; develops the policy and legislative framework for Ontario's financial services industry; develops and implements a fiscal and financial management framework for the public sector in Ontario; assists the Minister of Finance and the Government in formulating Ontario's federal-provincial finance policy; develops, monitors and reports on the fiscal plan and results for the province; provides policy advice to clients, managers, and decision makers in the areas of accounting, fiscal and financial management; and fosters greater accountability and fiscal integrity in the public sector in Ontario. The program advises on assessment and property tax policy, grants to municipalities, and education tax rates. It also monitors the fiscal and financial relationship between the province and the municipalities, including providing transfer payments to municipalities.

The Treasury Board Office coordinates fiscal strategy, risk assessment and internal audit services for the Ontario Public Service, and supports Treasury Board and Management Board of Cabinet by providing advice on the appropriate use of public resources to meet government priorities. The program also facilitates integrated supply chain and back-office leading practices in Ontario's broader public sector. It also reflects the transfer of dedicated electricity earnings from the Province to the Ontario Electricity Financial Corporation.

VOTE SUMMARY
($)
ITEM # ITEM

Estimates
2008-09

Estimates
2007-08

Difference
Between
2008-09
and
2007-08

Actual
2006-07

  OPERATING EXPENSE        
1 Economic Policy 9,443,300 7,867,600 1,575,700 7,584,243
5 Provincial-Local Finance 32,258,600 30,777,800 1,480,800 13,894,154
6 Ontario Municipal Partnership Strategy 951,301,800 933,202,400 18,099,400 787,320,707
8 Treasury Board Office 135,502,200 114,067,200 21,435,000 64,080,335
9 Ontario Internal Audit 6,140,600 4,415,600 1,725,000 4,018,392
10 Contingency Fund 420,000,000 997,140,000 (577,140,000) -
12 Ontario Electricity Financial Corporation Dedicated Electricity Earnings 410,000,000 426,000,000 (16,000,000) 67,000,000
  Total Including Special Warrants 1,964,646,500 2,513,470,600 (548,824,100) 943,897,831
Less: Special Warrants - 370,900,000 (370,900,000) -
  TOTAL OPERATING EXPENSE TO BE VOTED 1,964,646,500 2,142,570,600 (177,924,100) 943,897,831
Special Warrants - 370,900,000 (370,900,000) -
Statutory Guarantees and Indemnities, the Financial Administration Act 1,000 1,000 - -
Statutory Payments re: Guaranteed Loans, the Financial Administration Act - - - 608,883
  Total Statutory Appropriations 1,000 1,000 - 608,883
  Total Operating Expense 1,964,647,500 2,513,471,600 (548,824,100) 944,506,714
  OPERATING ASSETS        
11 Broader Public Sector Supply Chain Secretariat 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 -ITEM
#
STANDARD ACCOUNT BY ITEM AND SUB-ITEMS      
  OPERATING EXPENSE      
1203-1 Economic Policy      
  Salaries and wages     7,354,700
  Employee benefits     643,600
  Transportation and communication     183,600
  Services     1,114,300
  Supplies and equipment     99,800
  Transfer payments      
     Grants in support of Economic and Financial Services Policy Research     166,800
  Subtotal     9,562,800
  Less: Recoveries     119,500
  Total Operating Expense to be Voted     9,443,300
  Statutory Appropriation      
  Other transactions      
Statutory    Guarantees and Indemnities, the Financial Administration Act     1,000
1203-5 Provincial-Local Finance      
  Salaries and wages     5,225,200
  Employee benefits     547,100
  Transportation and communication     223,000
  Services     25,898,300
  Supplies and equipment     365,000
  Total Operating Expense to be Voted     32,258,600
1203-6 Ontario Municipal Partnership Strategy      
  Transfer payments      
     Ontario Municipal Partnership Fund   934,814,600  
     Special Payments to Municipalities   16,122,400  
     One-time Municipal Assistance   364,800 951,301,800
  Total Operating Expense to be Voted     951,301,800
1203-8 Treasury Board Office      
  Salaries and wages     21,284,400
  Employee benefits     2,831,800
  Transportation and communication     2,318,800
  Services     42,933,300
  Supplies and equipment     1,133,900
  Transfer payments      
     Partnerships with the Broader Public Sector   15,000,000  
     Supply Chain Management Project for the Broader Public Sector   50,000,000 65,000,000
  Total Operating Expense to be Voted     135,502,200
  Sub-Items:      
  Fiscal Strategy and Coordination      
  Salaries and wages   10,933,400  
  Employee benefits   1,433,100  
  Transportation and communication   1,243,800  
  Services   3,542,600  
  Supplies and equipment   308,900  
  Transfer payments      
     Partnerships with the Broader Public Sector   15,000,000 32,461,800
  Office of the Provincial Controller      
  Salaries and wages   6,411,000  
  Employee benefits   838,700  
  Transportation and communication   525,000  
  Services   36,190,700  
  Supplies and equipment   275,000 44,240,400
  Broader Public Sector Supply Chain Secretariat      
  Salaries and wages   3,940,000  
  Employee benefits   560,000  
  Transportation and communication   550,000  
  Services   3,200,000  
  Supplies and equipment   550,000  
  Transfer payments      
     Supply Chain Management Project for the Broader Public Sector   50,000,000 58,800,000
  Total Operating Expense to be Voted     135,502,200
1203-9 Ontario Internal Audit      
  Salaries and wages     19,275,400
  Employee benefits     2,218,200
  Transportation and communication     612,300
  Services     1,865,100
  Supplies and equipment     476,100
  Subtotal     24,447,100
  Less: Recoveries     18,306,500
  Total Operating Expense to be Voted     6,140,600
1203-10 Contingency Fund      
  Other transactions     420,000,000
  Total Operating Expense to be Voted     420,000,000
1203-12 Ontario Electricity Financial Corporation Dedicated Electricity Earnings      
  Transfer payments      
     Electricity Sector Dedicated Income     410,000,000
  Total Operating Expense to be Voted     410,000,000
  Total Operating Expense for Economic, Fiscal, and Financial Policy Program     1,964,647,500
  OPERATING ASSETS      
1203-11 Broader Public Sector Supply Chain Secretariat      
  Deposits and prepaid expenses     1,000
  Total Operating Assets to be Voted     1,000
  Total Operating Assets for Economic, Fiscal, and Financial Policy Program     1,000