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 and its 49 census divisions; 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 strategies 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, as well as providing oversight of the property assessment system. 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, Ontario Economic Accounts, 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 Long-term Report on the Economy and the Pre-Election Report on Ontario's Finances, undertakes annual population projections for use in resource allocation and planning, and 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
2014-15

Estimates
2013-14

Difference
Between
2014-15
and
2013-14

Actual
2012-13

  OPERATING EXPENSE        
1 Economic Policy 10,427,400 10,906,500 (479,100) 10,994,775
4 Securities Reform Division 479,100 - 479,100 -
5 Provincial-Local Finance 24,024,400 25,824,400 (1,800,000) 18,212,768
6 Municipal Support Programs 647,067,400 725,219,100 (78,151,700) 753,609,152
8 Office of the Budget and Treasury Board 49,098,200 49,098,200 - 27,913,751
9 Ontario Internal Audit 5,756,700 5,756,700 - 5,362,552
10 Contingency Fund 415,000,000 500,000,000 (85,000,000) -
21 Transition Fund 80,000,000 150,000,000 (70,000,000) -
12 Ontario Electricity Financial Corporation Dedicated Electricity Earnings 674,000,000 192,000,000 482,000,000 516,000,000
22 Expenses Related to Auto Sector Shares 1,000 100,000 (99,000) -
Total Including Special Warrants 1,905,854,200 1,658,904,900 246,949,300 1,332,092,998
Less: Special Warrants 428,700,000 - 428,700,000 -
  TOTAL OPERATING EXPENSE TO BE VOTED 1,477,154,200 1,658,904,900 (181,750,700) 1,332,092,998
Special Warrants 428,700,000 - 428,700,000 -
S Guarantees and Indemnities, the Financial Administration Act 1,000 1,000 - -
S Payments Under the Tax Increment Financing Act, 2006 1,000 1,000 - -
  Total Statutory Appropriations 2,000 2,000 - -
  Total Operating Expense 1,905,856,200 1,658,906,900 246,949,300 1,332,092,998
  OPERATING ASSETS        
S Harmonized Sales Tax, the Financial Administration Act 1,000 1,000 - 518,307,702
  Total Statutory Appropriations 1,000 1,000 - 518,307,702
  Total Operating Assets 1,000 1,000 - 518,307,702
  CAPITAL EXPENSE        
14 Economic, Fiscal, and Financial Policy Program 1,000 1,000 - -
  TOTAL CAPITAL EXPENSE TO BE VOTED 1,000 1,000 - -
S 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     7,118,700
      Employee benefits     791,900
      Transportation and communication     146,800
      Services     1,580,200
      Supplies and equipment     288,800
      Transfer payments      
          Grants in Support of Economic and Financial Services Policy Research     501,000
  Total Operating Expense     10,427,400
1203-4 Securities Reform Division      
      Salaries and wages     407,300
      Employee benefits     40,000
      Transportation and communication     6,800
      Services     18,200
      Supplies and equipment     6,800
  Total Operating Expense     479,100
1203-5 Provincial-Local Finance      
      Salaries and wages     5,733,200
      Employee benefits     859,100
      Transportation and communication     223,000
      Services     17,094,100
      Supplies and equipment     115,000
  Total Operating Expense     24,024,400
1203-6 Municipal Support Programs      
      Transfer payments      
          Ontario Municipal Partnership Fund   541,500,000  
          Special Payments to Municipalities   18,072,400  
          Greater Toronto Area Pooling Compensation   87,495,000 647,067,400
  Total Operating Expense     647,067,400
1203-8 Office of the Budget and Treasury Board      
      Salaries and wages     18,152,900
      Employee benefits     2,305,700
      Transportation and communication     806,200
      Services     27,315,900
      Supplies and equipment     517,500
  Total Operating Expense     49,098,200
  Sub-Items:      
  Budget and Treasury Board Office      
      Salaries and wages   10,468,800  
      Employee benefits   1,312,500  
      Transportation and communication   283,100  
      Services   3,428,700  
      Supplies and equipment   254,000 15,747,100
  Office of the Provincial Controller      
      Salaries and wages   7,684,100  
      Employee benefits   993,200  
      Transportation and communication   523,100  
      Services   23,887,200  
      Supplies and equipment   263,500 33,351,100
  Total Operating Expense     49,098,200
1203-9 Ontario Internal Audit      
      Salaries and wages     24,787,000
      Employee benefits     2,817,200
      Transportation and communication     206,800
      Services     3,805,200
      Supplies and equipment     35,700
  Subtotal     31,651,900
  Less: Recoveries     25,895,200
  Total Operating Expense     5,756,700
1203-10 Contingency Fund      
      Other transactions     415,000,000
  Total Operating Expense to be Voted     415,000,000
1203-21 Transition Fund      
      Other transactions     80,000,000
  Total Operating Expense to be Voted     80,000,000
1203-12 Ontario Electricity Financial Corporation Dedicated Electricity Earnings      
      Other transactions      
          Electricity Sector Dedicated Income     674,000,000
  Total Operating Expense     674,000,000
  Statutory Appropriations      
      Other transactions      
Statutory         Guarantees and Indemnities, the Financial Administration Act     1,000
1203-22 Expenses Related to Auto Sector Shares      
      Services     1,000
  Total Operating Expense to be Voted     1,000
  Statutory Appropriations      
      Transfer payments      
Statutory         Payments Under the Tax Increment Financing Act, 2006     1,000
  Total Operating Expense for Economic, Fiscal, and Financial Policy Program     1,905,856,200
  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