TREASURY PROGRAM

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TREASURY PROGRAM

This program is responsible for the development, direction, operation and formulation of policies for the management of the province's cash, investment, debt, finance, credit rating, investor relations, banking and related financial administration activities; reporting on the financial position of the province to investors and the public to facilitate borrowing activities; providing financial analysis and support for any direct or indirect provincial liabilities and monitoring the fiscal implications of the electricity sector as well as government and broader public sector financing initiatives including providing advice to the sector; the provision of guarantees by Ontario and of loans to its Crown Corporations and agencies; and acting as the custodian and fiscal agent for the securities of the province and certain of its agencies, including the Ontario Electricity Financial Corporation. It is also responsible for the issuance of Ontario Savings Bonds.

SUMMARY
($)
ITEM # ITEM

Estimates
2008-09

Estimates
2007-08

Difference
Between
2008-09
and
2007-08

Actual
2006-07

  OPERATING EXPENSE        
Statutory Interest on Debt 7,803,600,000 7,926,000,000 (122,400,000) 7,667,071,809
Statutory Bad Debt Expense, the Financial Administration Act - - - 39,804
  Total Operating Expense 7,803,600,000 7,926,000,000 (122,400,000) 7,667,111,613



Standard Account by Item and Sub-items
($)
VOTE -ITEM
#
STANDARD ACCOUNT BY ITEM AND SUB-ITEMS      
  OPERATING EXPENSE      
  Statutory Appropriations      
Statutory Interest on Debt      
  Interest on Ontario Securities      
     For general purposes   6,279,814,000  
     Canada Pension Plan Investment Fund   439,967,000  
     Ontario Teachers' Pension Plan   436,772,000  
     Public Service Pension Plan   246,053,000  
     Ontario Public Service Employees Union Pension Plan   116,889,000  
     Ontario Housing Corporation   102,079,000  
     Canada Mortgage and Housing Corporation   14,669,000  
     Ontario Immigrant Investor Corporation   25,100,000 7,661,343,000
     Other interest, exchange, discount and commission     30,270,000
        7,691,613,000
     Less: Interest on Investments     408,013,000
        7,283,600,000
     Interest on Debt Payable to Ontario Electricity Financial Corporation     520,000,000
  Total Operating Expense for Treasury Program     7,803,600,000