MAIN HEADING: Ministry of Finance - THE ESTIMATES, 2014-15 - Summary

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Ministry of Finance - THE ESTIMATES, 2014-15 - 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, pension and income security policies, administers a number of tax statutes, tax credit and benefit programs, produces the provincial budget, supports the Treasury Board/Management Board of Cabinet and oversees Ontario's borrowing and debt management program. 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
2014-15

Estimates
2013-14

Difference
Between
2014-15
and
2013-14

Actual
2012-13

  OPERATING EXPENSE        
1201 Ministry Administration Program 41,702,300 42,537,700 (835,400) 34,715,471
1202 Taxation, Agencies and Pensions Policy Program 21,540,000 21,067,000 473,000 23,364,912
1203 Economic, Fiscal, and Financial Policy Program 1,905,854,200 1,658,904,900 246,949,300 1,332,092,998
1204 Financial Services Industry Regulation Program 2,489,600 3,739,600 (1,250,000) 3,230,929
1209 Tax and Benefits Administration Program 473,698,200 454,053,700 19,644,500 342,120,820
Less: Special Warrants 608,500,000 - 608,500,000 -
  TOTAL OPERATING EXPENSE TO BE VOTED 1,836,784,300 2,180,302,900 (343,518,600) 1,735,525,130
  Special Warrants 608,500,000 - 608,500,000 -
  Statutory Appropriations        
      Treasury Program 10,395,290,800 9,878,532,000 516,758,800 9,539,823,819
      Other Statutory Appropriations 43,568,014 35,584,187 7,983,827 35,164,742
  Ministry Total Operating Expense 12,884,143,114 12,094,419,087 789,724,027 11,310,513,691
  Consolidation Adjustment - Ontario Financing Authority 25,174,000 24,622,000 552,000 22,947,000
  Consolidation Adjustment - Ontario Securities Commission 99,213,100 95,757,000 3,456,100 87,927,000
  Consolidation Adjustment - Ontario Electricity Financial Corporation 291,119,900 1,088,000,000 (796,880,100) 811,097,690
  Other Adjustments - Financial Services Commission of Ontario 100,269,300 106,548,100 (6,278,800) 65,074,407
  Consolidation Adjustment - Treasury Program 797,511,100 878,711,000 (81,199,900) 894,173,173
  Consolidation Adjustment - Treasury Program - Interest Capitalization for Other Sectors (182,801,900) (152,243,000) (30,558,900) (92,779,685)
  Total Including Consolidation & Other Adjustments 14,014,628,614 14,135,814,187 (121,185,573) 13,098,953,276
  OPERATING ASSETS        
1204 Financial Services Industry Regulation Program 1,000 1,000 - -
1209 Tax and Benefits Administration Program 300,000 350,000 (50,000) 220,602
Less: Special Warrants 100,000 - 100,000 -
  TOTAL OPERATING ASSETS TO BE VOTED 201,000 351,000 (150,000) 220,602
  Special Warrants 100,000 - 100,000 -
  Statutory Appropriations 27,601,000 27,201,000 400,000 544,465,901
  Ministry Total Operating Assets 27,902,000 27,552,000 350,000 544,686,503
  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 2,640,600 - 2,637,609
  Ministry Total Capital Expense 2,645,600 2,645,600 - 2,637,609
  Consolidation Adjustment - Ontario Financing Authority 847,000 886,000 (39,000) 944,000
  Consolidation Adjustment - Ontario Securities Commission 2,866,900 3,622,000 (755,100) 2,461,000
  Total Including Consolidation & Other Adjustments 6,359,500 7,153,600 (794,100) 6,042,609
  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 9,677,600 6,989,000 2,688,600 141,139
1209 Tax and Benefits Administration Program 1,000 1,000 - -
Less: Special Warrants 3,200,000 - 3,200,000 -
  TOTAL CAPITAL ASSETS TO BE VOTED 6,480,600 6,992,000 (511,400) 141,139
  Special Warrants 3,200,000 - 3,200,000 -
  Ministry Total Capital Assets 9,680,600 6,992,000 2,688,600 141,139
           
  Ministry Total Operating and Capital Including Consolidation and Other Adjustments (not including Assets) 14,020,988,114 14,142,967,787 (121,979,673) 13,104,995,885
RECONCILIATION TO PREVIOUSLY PUBLISHED DATA