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Ministry of Finance - THE ESTIMATES, 2013-14 - Summary

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 and pension 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. 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. In addition, the ministry manages Ontario's fiscal relationship with municipalities, and oversees agencies accountable to the Minister of Finance.

MINISTRY PROGRAM SUMMARY
($)
VOTE PROGRAM

Estimates
2013-14

Estimates
2012-13

Difference
Between
2013-14
and
2012-13

Actual
2011-12

  OPERATING EXPENSE        
1201   Ministry Administration Program 42,374,300 42,673,000 (298,700) 37,843,044
1202   Taxation, Agencies and Pensions Policy Program 20,900,300 20,963,500 (63,200) 16,907,771
1203   Economic, Fiscal, and Financial Policy Program 1,658,650,900 1,886,470,900 (227,820,000) 1,309,142,196
1204   Financial Services Industry Regulation Program 3,739,600 2,326,900 1,412,700 3,184,189
1209   Tax and Benefits Administration Program 453,367,200 422,807,300 30,559,900 1,876,752,095
  TOTAL OPERATING EXPENSE TO BE VOTED 2,179,032,300 2,375,241,600 (196,209,300) 3,243,829,295
Statutory Appropriations        
   Treasury Program 9,878,532,000 9,849,464,000 29,068,000 9,293,586,321
   Other Statutory Appropriations 35,584,187 57,468,014 (21,883,827) 24,181,909
  Ministry Total Operating Expense 12,093,148,487 12,282,173,614 (189,025,127) 12,561,597,525
   Consolidation Adjustment - Ontario Financing Authority 24,622,000 24,183,000 439,000 23,404,000
   Consolidation Adjustment - Ontario Securities Commission 95,757,000 95,697,000 60,000 83,495,001
   Consolidation Adjustment - Ontario Electricity Financial Corporation 1,088,000,000 1,138,000,000 (50,000,000) 902,228,025
   Consolidation Adjustment - Treasury Program 878,711,000 891,672,000 (12,961,000) 868,676,851
   Consolidation Adjustment - Treasury Program- Interest Capitalization for Other Sectors (152,243,000) (122,136,000) (30,107,000) (79,870,074)
   Other Adjustments - Financial Services Commission of Ontario 106,548,100 84,886,400 21,661,700 61,530,731
  Total Including Consolidation & Other Adjustments 14,134,543,587 14,394,476,014 (259,932,427) 14,421,062,059
           
  OPERATING ASSETS        
1204   Financial Services Industry Regulation Program 1,000 1,000 - -
1209   Tax and Benefits Administration Program 350,000 301,000 49,000 334,822
  TOTAL OPERATING ASSETS TO BE VOTED 351,000 302,000 49,000 334,822
Statutory Appropriations 27,201,000 26,501,000 700,000 566,254,299
  Ministry Total Operating Assets 27,552,000 26,803,000 749,000 566,589,121
           
  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 2,640,600 2,600,500 40,100 3,031,541
  Ministry Total Capital Expense 2,645,600 2,605,500 40,100 3,031,541
   Consolidation Adjustment - Ontario Financing Authority 886,000 1,029,000 (143,000) 1,060,000
   Consolidation Adjustment - Ontario Securities Commission 3,622,000 2,440,000 1,182,000 1,844,000
  Total Including Consolidation & Other Adjustments 7,153,600 6,074,500 1,079,100 5,935,541
           
  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 6,989,000 550,000 6,439,000 301,306
1209   Tax and Benefits Administration Program 1,000 1,000 - 637,970
  TOTAL CAPITAL ASSETS TO BE VOTED 6,992,000 553,000 6,439,000 939,276
  Ministry Total Capital Assets 6,992,000 553,000 6,439,000 939,276
           
  Ministry Total Operating and Capital Including Consolidation and Other Adjustments (not including Assets) 14,141,697,187 14,400,550,514 (258,853,327) 14,426,997,600

RECONCILIATION TO PREVIOUSLY PUBLISHED DATA