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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 debt, investments, credit rating, investor relations, and related financial administration activities; providing centralized banking and cash management services to the Province; reporting on the financial position of the Province to investors and the public to facilitate borrowing activities; providing to the electricity sector financial analysis and support for any direct or indirect provincial liabilities and monitoring the fiscal implications; advice to government and broader public sector on financing initiatives and policies; provision of guarantees and loans by the Province and assistance in investments to its Crown Corporations and agencies; and arranging custodial and fiscal agency services for the Province and certain agencies. It is also responsible for the issuance of Ontario Savings Bonds. The Ontario Financing Authority (OFA) provides a broad range of financial services to Ontario Electricity Financial Corporation (OEFC) and Ontario Infrastructure and Lands Corporation (Infrastructure Ontario).

SUMMARY
($)
ITEM # ITEM

Estimates
2013-14

Estimates
2012-13

Difference
Between
2013-14
and
2012-13

Actual
2011-12

  OPERATING EXPENSE        
Statutory Interest on Debt 9,878,532,000 9,849,464,000 29,068,000 9,293,586,321
  Total Operating Expense 9,878,532,000 9,849,464,000 29,068,000 9,293,586,321



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   9,636,149,000  
     Canada Pension Plan Investment Board   506,023,000  
     Public Service Pension Fund   50,050,000  
     Ontario Public Service Employees Union Pension Fund   23,777,000  
     Canada Mortgage and Housing Corporation   8,717,000  
     Ontario Immigrant Investor Corporation   29,580,000 10,254,296,000
     Less: Other interest, exchange, discount and commission     182,405,000
     Less: Interest Capitalized in Ministry Appropriations     118,857,000
     Less: Interest on Investments     594,502,000
        9,358,532,000
     Interest on Debt Payable to Ontario Electricity Financial Corporation     520,000,000
  Total Operating Expense for Treasury Program     9,878,532,000