MAIN HEADING: 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 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 and internal audit services 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. It also reflects the transfer of dedicated electricity earnings from the Province to the Ontario Electricity Financial Corporation.

This program assists the Minister, Deputy Minister of Finance and the government in formulating the fiscal plan and reporting the results of the Province through the Ontario Budget, Ontario Quarterly Finances, Economic Outlook and Fiscal Review, and Public Accounts as well as the annual process to seek spending authority from the Legislature. Additionally, the program supports Treasury Board/Management Board of Cabinet by providing advice on ministries' annual multi-year Results-based Plans and ministries' management of in-year expenditures to ensure the appropriate use of public resources to meet government priorities. The Program also provides the Ontario Public Service and Broader Public Sector with accounting and financial management policy and controllership advice, prepares the Pre-Election Report on Ontario's Finances, undertakes annual population projections for use in resource allocation and planning, provides support to the Minister of Finance and the government in formulating Ontario's strategies with respect to federal-provincial fiscal arrangements.

VOTE SUMMARY
($)
ITEM # ITEM

Estimates
2013-14

Estimates
2012-13

Difference
Between
2013-14
and
2012-13

Actual
2011-12

  OPERATING EXPENSE        
1 Economic Policy 10,828,600 10,828,600 - 10,338,329
5 Provincial-Local Finance 25,754,100 27,954,100 (2,200,000) 18,123,612
6 Municipal Support Programs 725,219,100 754,939,100 (29,720,000) 752,896,125
8 Office of the Budget and Treasury Board 48,854,400 51,854,400 (3,000,000) 27,215,476
9 Ontario Internal Audit 5,894,700 5,894,700 - 5,568,654
10 Contingency Fund 500,000,000 400,000,000 100,000,000 -
21 Transition Fund 150,000,000 500,000,000 (350,000,000) -
12 Ontario Electricity Financial Corporation Dedicated Electricity Earnings 192,000,000 135,000,000 57,000,000 495,000,000
22 Expenses Related to Auto Sector Shares 100,000 - 100,000 -
  TOTAL OPERATING EXPENSE TO BE VOTED 1,658,650,900 1,886,470,900 (227,820,000) 1,309,142,196
Statutory Payments Under the Tax Increment Financing Act, 2006 1,000 1,000 - -
Statutory Guarantees and Indemnities, the Financial Administration Act 1,000 1,000 - -
  Total Statutory Appropriations 2,000 2,000 - -
  Total Operating Expense 1,658,652,900 1,886,472,900 (227,820,000) 1,309,142,196
  OPERATING ASSETS        
Statutory Harmonized Sales Tax, the Financial Administration Act 1,000 1,000 - 541,076,236
  Total Statutory Appropriations 1,000 1,000 - 541,076,236
  Total Operating Assets 1,000 1,000 - 541,076,236
  CAPITAL EXPENSE        
14 Economic, Fiscal, and Financial Policy Program 1,000 1,000 - -
  TOTAL CAPITAL EXPENSE TO BE VOTED 1,000 1,000 - -
Statutory Amortization, the Financial Administration Act 1,000 1,000 - -
  Total Statutory Appropriations 1,000 1,000 - -
  Total Capital Expense 2,000 2,000 - -
  CAPITAL ASSETS        
13 Economic, Fiscal and Financial Policy Program 1,000 1,000 - -
  TOTAL CAPITAL ASSETS TO BE VOTED 1,000 1,000 - -
  Total Capital 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     7,526,000
  Employee benefits     831,900
  Transportation and communication     153,600
  Services     1,520,500
  Supplies and equipment     295,600
  Transfer payments      
     Grants in Support of Economic and Financial Services Policy Research     501,000
  Total Operating Expense to be Voted     10,828,600
1203-5 Provincial-Local Finance      
  Salaries and wages     5,333,200
  Employee benefits     559,100
  Transportation and communication     223,000
  Services     19,523,800
  Supplies and equipment     115,000
  Total Operating Expense to be Voted     25,754,100
1203-6 Municipal Support Programs      
  Transfer payments      
     Ontario Municipal Partnership Fund   568,916,700  
     Special Payments to Municipalities   19,322,400  
     Greater Toronto Area Pooling Compensation   136,980,000 725,219,100
  Total Operating Expense to be Voted     725,219,100
  Statutory Appropriations      
  Transfer payments      
Statutory    Payments Under the Tax Increment Financing Act, 2006     1,000
1203-8 Office of the Budget and Treasury Board      
  Salaries and wages     17,137,900
  Employee benefits     2,173,800
  Transportation and communication     806,200
  Services     28,219,000
  Supplies and equipment     517,500
  Total Operating Expense to be Voted     48,854,400
  Sub-Items:      
  Budget and Treasury Board Office      
  Salaries and wages   10,468,800  
  Employee benefits   1,312,500  
  Transportation and communication   283,100  
  Services   3,275,000  
  Supplies and equipment   254,000 15,593,400
  Office of the Provincial Controller      
  Salaries and wages   6,669,100  
  Employee benefits   861,300  
  Transportation and communication   523,100  
  Services   24,944,000  
  Supplies and equipment   263,500 33,261,000
  Total Operating Expense to be Voted     48,854,400
1203-9 Ontario Internal Audit      
  Salaries and wages     23,007,000
  Employee benefits     2,607,200
  Transportation and communication     381,800
  Services     3,835,200
  Supplies and equipment     160,700
  Subtotal     29,991,900
  Less: Recoveries     24,097,200
  Total Operating Expense to be Voted     5,894,700
1203-10 Contingency Fund      
  Other transactions     500,000,000
  Total Operating Expense to be Voted     500,000,000
1203-21 Transition Fund      
  Other transactions     150,000,000
  Total Operating Expense to be Voted     150,000,000
1203-12 Ontario Electricity Financial Corporation Dedicated Electricity Earnings      
  Other transactions      
     Electricity Sector Dedicated Income     192,000,000
  Total Operating Expense to be Voted     192,000,000
  Statutory Appropriations      
  Other transactions      
Statutory    Guarantees and Indemnities, the Financial Administration Act     1,000
1203-22 Expenses Related to Auto Sector Shares      
  Services     100,000
  Total Operating Expense to be Voted     100,000
  Total Operating Expense for Economic, Fiscal, and Financial Policy Program     1,658,652,900
  OPERATING ASSETS      
  Statutory Appropriations      
  Advances and recoverable amounts      
Statutory    Harmonized Sales Tax, the Financial Administration Act     1,000
  Total Operating Assets for Economic, Fiscal, and Financial Policy Program     1,000
  CAPITAL EXPENSE      
1203-14 Economic, Fiscal, and Financial Policy Program      
  Other transactions     1,000
  Total Capital Expense to be Voted     1,000
  Statutory Appropriations      
  Other transactions      
Statutory    Amortization, the Financial Administration Act     1,000
  Total Capital Expense for Economic, Fiscal, and Financial Policy Program     2,000
  CAPITAL ASSETS      
1203-13 Economic, Fiscal and Financial Policy Program      
  Land and marine fleet - asset costs     1,000
  Total Capital Assets to be Voted     1,000
  Total Capital Assets for Economic, Fiscal, and Financial Policy Program     1,000