MAIN HEADING: TREASURY PROGRAM

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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 of its 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 Projects Corporation (Infrastructure Ontario).

SUMMARY
($)
ITEM #	ITEM	Estimates 2011-12	Estimates 2010-11	Difference Between 2011-12 and 2010-11	Actual 2009-10
	OPERATING EXPENSE
Statutory	Interest on Debt	9,464,497,900	9,150,716,200	313,781,700	7,857,450,105
Statutory	Bad Debt Expense	-	-	-	3,016,347,591
	Total Operating Expense	9,464,497,900	9,150,716,200	313,781,700	10,873,797,696

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	8,909,154,900
	Canada Pension Plan Investment Board	532,916,000
	Ontario Teachers' Pension Fund	82,867,000
	Public Service Pension Fund	135,123,000
	Ontario Public Service Employees Union Pension Fund	64,191,000
	Ontario Mortgage and Housing Corporation	2,245,000
	Canada Mortgage and Housing Corporation	11,340,000
	Ontario Immigrant Investor Corporation	41,573,000	9,779,409,900
	Less: Other interest, exchange, discount and commission		62,080,000
	Less: Interest Capitalized in Ministry Appropriations		142,358,000
	Less: Interest on Investments		630,474,000
			8,944,497,900
	Interest on Debt Payable to Ontario Electricity Financial Corporation		520,000,000
	Total Operating Expense for Treasury Program		9,464,497,900