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The Ontario Ministry of Finance manages the economic, fiscal, and financial policies of the Government of Ontario. The ministry develops economic and fiscal strategies, plans and manages government operating and capital expenditures, develops tax policies, administers a number of tax statutes, tax credit and benefit programs, 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, the ministry oversees the government's Internal Audit function, develops policies for Ontario's financial services sector and supports the regulation of financial services institutions and intermediaries carrying on business in the province.

MINISTRY PROGRAM SUMMARY
($)
VOTE PROGRAM

Estimates
2012-13

Estimates
2011-12

Difference
Between
2012-13
and
2011-12

Actual
2010-11

  OPERATING EXPENSE        
1201   Ministry Administration Program 42,095,600 42,980,400 (884,800) 38,503,653
1202   Taxation, Agencies and Pensions Policy Program 20,733,000 20,818,400 (85,400) 15,341,798
1203   Economic, Fiscal, and Financial Policy Program 1,923,494,800 2,123,141,900 (199,647,100) 1,702,898,751
1204   Financial Services Industry Regulation Program 2,326,900 1,951,000 375,900 3,134,951
1206   Central Agencies Information & Information Technology Cluster Program 46,051,200 43,018,900 3,032,300 49,065,212
1209   Tax and Benefits Administration Program 419,022,300 1,933,128,200 (1,514,105,900) 3,498,441,317
  TOTAL OPERATING EXPENSE TO BE VOTED 2,453,723,800 4,165,038,800 (1,711,315,000) 5,307,385,682
Statutory Appropriations        
   Treasury Program 9,849,464,000 9,464,497,900 384,966,100 8,853,646,698
   Other Statutory Appropriations 51,968,014 42,031,028 9,936,986 131,722,570
  Ministry Total Operating Expense 12,355,155,814 13,671,567,728 (1,316,411,914) 14,292,754,950
   Net Consolidation Adjustment - Ontario Financing Authority 24,183,000 18,891,200 5,291,800 18,898,132
   Net Consolidation Adjustment - Ontario Securities Commission 95,697,000 85,702,000 9,995,000 77,176,000
   Net Consolidation Adjustment - Ontario Electricity Financial Corporation 1,138,000,000 766,000,000 372,000,000 543,163,474
   Net Consolidation Adjustment - Treasury Program 891,672,000 951,114,800 (59,442,800) 892,324,318
   Net Consolidation Adjustment - Treasury Program- Interest Capitalization for Other Sectors (122,136,000) (125,843,300) 3,707,300 (65,873,906)
   Net Consolidation Adjustment - Hospitals (7,000,000) (10,000,000) 3,000,000 -
   Other Adjustments - Financial Services Commission of Ontario 84,886,400 69,172,100 15,714,300 57,738,484
   Net Consolidation Adjustment - Ontario Racing Commission 10,914,700 10,080,000 834,700 9,832,799
   Net Consolidation Adjustment - Infrastructure Ontario - - - (200,319,000)
  Total Including Consolidation & Other Adjustments 14,471,372,914 15,436,684,528 (965,311,614) 15,625,695,251
           
  OPERATING ASSETS        
1203   Economic, Fiscal, and Financial Policy Program 1,000 1,000 - -
1204   Financial Services Industry Regulation Program 1,000 1,000 - -
1209   Tax and Benefits Administration Program 301,000 301,000 - 258,541
  TOTAL OPERATING ASSETS TO BE VOTED 303,000 303,000 - 258,541
Statutory Appropriations 26,501,000 30,501,000 (4,000,000) 404,512,213
  Ministry Total Operating Assets 26,804,000 30,804,000 (4,000,000) 404,770,754
           
  CAPITAL EXPENSE        
1201   Ministry Administration Program 1,000 1,000 - -
1203   Economic, Fiscal, and Financial Policy Program 1,000 1,000 - -
1204   Financial Services Industry Regulation Program 1,000 1,000 - -
1208   Investing in Ontario Program 1,000 1,000 - -
1209   Tax and Benefits Administration Program 1,000 1,000 - -
  TOTAL CAPITAL EXPENSE TO BE VOTED 5,000 5,000 - -
Statutory Appropriations 2,600,500 3,358,800 (758,300) 2,340,879
  Ministry Total Capital Expense 2,605,500 3,363,800 (758,300) 2,340,879
   Net Consolidation Adjustment - Ontario Financing Authority 1,029,000 1,235,000 (206,000) 1,109,718
   Net Consolidation Adjustment - Ontario Securities Commission 2,440,000 2,750,000 (310,000) 2,981,000
   Net Consolidation Adjustment - Ontario Racing Commission 80,000 100,000 (20,000) 82,000
  Total Including Consolidation & Other Adjustments 6,154,500 7,448,800 (1,294,300) 6,513,597
           
  CAPITAL ASSETS        
1201   Ministry Administration Program 1,000 1,000 - -
1203   Economic, Fiscal, and Financial Policy Program 1,000 1,000 - -
1204   Financial Services Industry Regulation Program 550,000 650,000 (100,000) 469,326
1209   Tax and Benefits Administration Program 1,000 2,318,800 (2,317,800) 4,894,351
  TOTAL CAPITAL ASSETS TO BE VOTED 553,000 2,970,800 (2,417,800) 5,363,677
  Ministry Total Capital Assets 553,000 2,970,800 (2,417,800) 5,363,677
           
  Ministry Total Operating and Capital Including Consolidation and Other Adjustments (not including Assets) 14,477,527,414 15,444,133,328 (966,605,914) 15,632,208,848
RECONCILIATION TO PREVIOUSLY PUBLISHED DATA