Summary

The Ministry of Finance supports the economic, fiscal, and taxation policies and strategies of the Government of Ontario and oversees the Province's borrowing and debt management program. The ministry produces the provincial budget and fall economic statement, and manages Ontario's fiscal relationship with the federal government and Ontario's municipalities. In conjunction with Treasury Board Secretariat, the ministry also manages the Consolidated Revenue Fund and provincial fiscal and financial policies, and reports on financial matters.

The ministry develops policies for Ontario's financial services sector and supports the regulation of financial services institutions and intermediaries conducting business in the Province. It reports on economic and demographic developments; and provides analytical and policy support on these topics, as well as statistical leadership and monitoring of trends affecting Ontario's economic growth and job creation.

The ministry administers a number of provincial tax statutes, tax credits and benefit programs, and manages the Province's relationship with the Canada Revenue Agency.

The ministry is responsible for policy development for the beverage alcohol, gaming and cannabis sectors. Along with the operational and revenue-generating agencies in these sectors, the ministry also oversees other agencies accountable to the Minister of Finance.

Ministry program summary

Vote Program

Estimates
2024-25 $

Estimates
2023-24 $

Difference
between
2024-25
and
2023-24 $

Actual
2022-23 $

Operating expense
1201 Ministry Administration Program 34,246,900 34,689,700 (442,800) 53,362,066
1202 Regulatory Policy and Agency Relations Program 18,774,700 18,405,200 369,500 14,452,656
1203 Economic, Fiscal, and Financial Policy Program 485,466,700 369,325,900 116,140,800 216,689,790
1209 Tax, Benefits and Local Finance Program 1,073,437,600 1,178,811,100 (105,373,500) 956,413,138
1215 Building Ontario Fund Program 5,000,000 - 5,000,000 -
  Total operating expense to be voted 1,616,925,900 1,601,231,900 15,694,000 1,240,917,650
  Statutory appropriations        
 

Treasury Program

 14,228,241,000 13,764,000,000 464,241,000 12,493,990,977
 

Building Ontario Fund, the Building Ontario Fund Act, 2024 (proposed)

 1,000 - 1,000 -
 

Other Statutory Appropriations

 50,799,087 50,799,087 - 219,224,268
  Ministry total operating expense 15,895,966,987 15,416,030,987 479,936,000 13,954,132,895
  Consolidation Adjustment - Investment Management Corporation of Ontario 310,665,800 296,852,100 13,813,700 243,269,000
  Consolidation Adjustment - Ontario Financing Authority 27,211,300 27,211,300 - 26,540,881
  Consolidation Adjustment - Ontario Securities Commission 151,662,400 141,688,200 9,974,200 138,119,490
  Consolidation Adjustment - Ontario Electricity Financial Corporation (416,727,800) (302,706,700) (114,021,100) (186,775,424)
  Consolidation Adjustment - General Real Estate Portfolio - - - (109,606)
  Consolidation Adjustment – General Real Estate Portfolio for Ontario Financing Authority (1,548,300) (1,425,000) (123,300) (1,581,589)
  Consolidation Adjustment - Financial Services Regulatory Authority of Ontario 120,873,400 107,650,500 13,222,900 100,157,361
  Consolidation Adjustment - Treasury Program 350,171,000 735,000,000 (384,829,000) 431,328,841
  Consolidation Adjustment - Treasury Program - Interest Capitalization for Other Sectors (665,412,000) (441,000,000) (224,412,000) (536,035,850)
  Total including consolidation & other adjustments 15,772,862,787 15,979,301,387 (206,438,600) 14,169,045,999

Operating Assets
1209 Tax, Benefits and Local Finance Program 1,500,000 1,500,000 - 348,448
  Total operating assets to be voted 1,500,000 1,500,000 - 348,448
  Statutory appropriations 32,700,000 32,700,000 - 30,406,350
  Ministry total operating assets 34,200,000 34,200,000 - 30,754,798

Capital expense
  Consolidation Adjustment - Investment Management Corporation of Ontario 2,025,900 1,990,900 35,000 1,986,000
  Consolidation Adjustment - Ontario Financing Authority 1,323,200 1,372,900 (49,700) 946,237
  Consolidation Adjustment - Ontario Securities Commission 2,092,900 2,460,800 (367,900) 2,555,729
  Consolidation Adjustment - Financial Services Regulatory Authority of Ontario 3,313,400 3,511,900 (198,500) 3,372,668
  Total including consolidation & other adjustments 8,755,400 9,336,500 (581,100) 8,860,634
  Ministry total operating and capital including consolidation and other adjustments (not including assets) 15,781,618,187 15,988,637,887 (207,019,700) 14,177,906,633

Reconciliation to previously published data

Operating expense

Estimates
2023-24 $

Actual
2022-23 $
Total operating expense previously published footnote 1 15,416,030,987 13,977,853,069
Government Reorganization    

Transfer of functions to other Ministries

 - (23,720,174)
Restated total operating expense 15,416,030,987 13,954,132,895
Capital assets

Estimates
2023-24 $

Actual
2022-23 $
Total capital assets previously published footnote 2 - 6,206,631
Government Reorganization    

Transfer of functions to other Ministries

 - (6,206,631)
Restated total capital assets - -

Ministry Administration Program - Vote 1201

The Ministry Administration Program, which includes the Offices of the Minister and Deputy Minister of Finance, delivers planning, advisory, legal, and controllership functions to ensure direction and management of operating programs consistent with Ontario Government policy and legislation. The program manages relationships with Treasury Board Secretariat and other central agencies, ensures proper levels of support to the ministry and its client groups.

Vote summary

Item number Item

Estimates
2024-25 $

Estimates
2023-24 $

Difference
between
2024-25
and
2023-24 $

Actual
2022-23 $

Operating expense
1 Ministry Administration 34,246,900 34,689,700 (442,800) 53,362,066
  Total operating expense to be voted 34,246,900 34,689,700 (442,800) 53,362,066
S Minister's Salary, the Executive Council Act 47,841 47,841 - 49,301
S Minister without Portfolio's Salary, the Executive Council Act - - - 5,160
S Parliamentary Assistants’ Salaries, the Executive Council Act 32,346 32,346 - 33,102
S Bad Debt Expense, the Financial Administration Act 1,000 1,000 - -
  Total statutory appropriations 81,187 81,187 - 87,563
  Total operating expense 34,328,087 34,770,887 (442,800) 53,449,629

Standard account by item and sub-items

 
Vote-
item
number		 Standard account by item and sub-items Amount $ Amount $

Operating expense
1201-1 Ministry Administration    
 

Salaries and wages

   18,181,200
 

Employee benefits

   2,735,400
 

Transportation and communication

   1,097,700
 

Services

   11,399,200
 

Supplies and equipment

   833,400
  Total operating expense to be voted   34,246,900
  Sub-items:    
  Main office    
 

Salaries and wages

 3,294,800  
 

Employee benefits

 344,400  
 

Transportation and communication

 305,400  
 

Services

 193,200  
 

Supplies and equipment

 77,200 4,215,000
  Corporate services    
 

Salaries and wages

 9,499,600  
 

Employee benefits

 1,921,900  
 

Transportation and communication

 463,400  
 

Services

 2,328,500  
 

Supplies and equipment

 418,700 14,632,100
  Communications Services    
 

Salaries and wages

 5,386,800  
 

Employee benefits

 469,100  
 

Transportation and communication

 73,600  
 

Services

 110,300  
 

Supplies and equipment

 164,100 6,203,900
  Legal Services    
 

Transportation and communication

 255,300  
 

Services

 8,767,200  
 

Supplies and equipment

 173,400 9,195,900
  Total operating expense to be voted   34,246,900
  Statutory appropriations    
Statutory

Minister's Salary, the Executive Council Act

   47,841
Statutory

Parliamentary Assistants’ Salaries, the Executive Council Act

   32,346
  Statutory appropriations    
 

Other transactions

    
Statutory

Bad Debt Expense, the Financial Administration Act

   1,000
  Total operating expense for Ministry Administration Program   34,328,087

Regulatory Policy and Agency Relations Program - Vote 1202

The Regulatory Policy and Agency Relations Program provides coordination and oversight of the Ministry of Finance's regulatory policy agenda, and related agency oversight.

This program undertakes pension and income security policy analysis and leads development of relevant legislation and regulations. It tracks emerging trends and developments and identifies the social, economic and fiscal implications of pension and income security policies, and supports the government in formulating legislation and major economic, fiscal and policy documents. The program also manages the government's relationship with the Investment Management Corporation of Ontario.

This program ensures efficient regulation of the provincial financial services sector, including insurance, deposit-taking institutions, mortgage brokers, and the capital markets. This includes providing oversight to the Ontario Securities Commission and the Financial Services Regulatory Authority of Ontario.

The ministry also provides administrative support to the Financial Services Tribunal, an adjudicative tribunal that, at the request of affected persons, holds appeals and hearings for decisions or proposed decisions, of the Chief Executive Officer of the Financial Services Regulatory Authority of Ontario.

This program supports the coordination of horizontal policy development across multiple ministries to support key sectors including implementation of beverage alcohol as well as gaming and cannabis. It facilitates the Minister's oversight and accountability of the Liquor Control Board of Ontario, the Ontario Cannabis Retail Corporation, and the Ontario Lottery and Gaming Corporation, and manages the Ontario Deposit Return Program for beverage alcohol containers.

Vote summary

Item number Item

Estimates
2024-25 $

Estimates
2023-24 $

Difference
between
2024-25
and
2023-24 $

Actual
2022-23 $

Operating expense
6 Income Security and Pension Policy 5,328,700 5,285,200 43,500 4,682,873
7 Government Business Enterprise 7,916,400 7,878,700 37,700 5,367,769
8 Financial Services Policy 5,528,600 5,240,300 288,300 4,402,014
12 Financial Services Tribunal 1,000 1,000 - -
  Total operating expense to be voted 18,774,700 18,405,200 369,500 14,452,656
  Total operating expense 18,774,700 18,405,200 369,500 14,452,656

Standard account by item and sub-items

Vote-
item
number		 Standard account by item and sub-items Amount $

Operating expense
1202-6 Income Security and Pension Policy  
 

Salaries and wages

 4,395,500
 

Employee benefits

 481,800
 

Transportation and communication

 18,800
 

Services

 410,700
 

Supplies and equipment

 21,900
  Total operating expense to be voted 5,328,700
1202-7 Government Business Enterprise  
 

Salaries and wages

 4,609,300
 

Employee benefits

 581,900
 

Transportation and communication

 72,900
 

Services

 2,587,600
 

Supplies and equipment

 64,700
  Total operating expense to be voted 7,916,400
1202-8 Financial Services Policy  
 

Salaries and wages

 3,869,300
 

Employee benefits

 525,700
 

Transportation and communication

 68,600
 

Services

 1,388,000
 

Supplies and equipment

 62,700
  Subtotal 5,914,300
  Less: recoveries 385,700
  Total operating expense to be voted 5,528,600
1202-12 Financial Services Tribunal  
 

Salaries and wages

 176,600
 

Employee benefits

 23,000
 

Transportation and communication

 5,200
 

Services

 574,000
 

Supplies and equipment

 1,500
  Subtotal 780,300
  Less: recoveries 779,300
  Total operating expense to be voted 1,000
  Total operating expense for Regulatory Policy and Agency Relations Program 18,774,700

Economic, Fiscal, and Financial Policy Program - Vote 1203

The Economic, Fiscal and Financial Policy Program assists the government in formulating the fiscal plan and monitors and reports on the performance of the Ontario economy through the Ontario Budget, Ontario Quarterly Finances, Ontario Economic Accounts, Economic Outlook and Fiscal Review, and Ontario’s Public Accounts. It leads preparation of the Long-Term Report on the Economy and supports the Pre-Election Review of Ontario’s Finances by the Auditor General. This program supports, develops and implements sound economic and fiscal strategies to stimulate economic growth and job creation; and it provides financial and economic expertise and advice to support the development, implementation and assessment of the impact of government policies and programs on Ontarians. It undertakes annual population projections for use in resource allocation and planning and develops demographic forecasts for Ontario and its 49 census divisions.

This program assists the Minister of Finance and the government in formulating Ontario's fiscal policy and strategies with respect to federal-provincial fiscal arrangements; and provides policy advice to clients, managers, and decision makers in the areas of fiscal management. The program facilitates engagement with central agency and line ministry partners to provide fiscal and budgetary policy advice and support policy development and prioritization. The program is responsible for statistics policy and is leading efforts to deliver high quality data and information and modernizing Ontario’s statistics services.

In addition, the program reflects the transfer of dedicated electricity earnings from the Province to the Ontario Electricity Financial Corporation.

Vote summary

Item number Item

Estimates
2024-25 $

Estimates
2023-24 $

Difference
between
2024-25
and
2023-24 $

Actual
2022-23 $

Operating expense
1 Economic Policy 12,586,900 12,236,000 350,900 11,742,749
8 Office of the Budget 5,438,300 4,494,200 944,100 4,818,041
12 Ontario Electricity Financial Corporation Dedicated Electricity Earnings 467,441,500 352,595,700 114,845,800 200,129,000
  Total operating expense to be voted 485,466,700 369,325,900 116,140,800 216,689,790
S Guarantees and Indemnities, the Financial Administration Act 1,000 1,000 - -
S Hydro One Inc., Provincial Corporate Tax Provision, the Electricity Act, 1998 1,000 1,000 - 35,000,000
  Total statutory appropriations 2,000 2,000 - 35,000,000
  Total operating expense 485,468,700 369,327,900 116,140,800 251,689,790

 

 

Standard account by item and sub-items

 

 

Vote-
item
number		 Standard account by item and sub-items Amount $

Operating expense
1203-1 Economic Policy  
 

Salaries and wages

 9,997,300
 

Employee benefits

 1,175,000
 

Transportation and communication

 86,400
 

Services

 1,064,200
 

Supplies and equipment

 264,000
  Total operating expense to be voted 12,586,900
1203-8 Office of the Budget  
 

Salaries and wages

 4,750,200
 

Employee benefits

 455,100
 

Transportation and communication

 71,800
 

Services

 119,000
 

Supplies and equipment

 42,200
  Total operating expense to be voted 5,438,300
1203-12 Ontario Electricity Financial Corporation Dedicated Electricity Earnings  
 

Other transactions

  
 

Electricity Sector Dedicated Income

 467,441,500
  Total operating expense to be voted 467,441,500
  Statutory appropriations  
 

Other transactions

  
Statutory

Guarantees and Indemnities, the Financial Administration Act

 1,000
  Statutory appropriations  
 

Other transactions

  
Statutory

Hydro One Inc., Provincial Corporate Tax Provision, the Electricity Act, 1998

 1,000
  Total operating expense for Economic, Fiscal, and Financial Policy Program 485,468,700

Tax, Benefits and Local Finance Program - Vote 1209

The Tax, Benefits and Local Finance Program develops the policy and legislative framework for Ontario's taxation and benefits systems; administers Ontario tax statutes, tax and non-tax revenue programs and a number of benefit programs; maintains the integrity of Ontario's tax system; and manages the Province's fiscal relationship with municipalities.

The program’s objective is to maintain a tax system that is competitive and transparent for business to support economic growth, while ensuring tax supports are fair and effective for individuals and families in Ontario. To this end, the program provides strategic analysis and advice as well as legislative design on a range of tax areas, including personal, corporate, mining, electricity sector, commodity, and sales, estate administration and payroll.

As part of this work, the program offers front-line customer service across the Province including program advice, education and outreach, as well as assistance throughout the registration and account management process. The program also conducts tax compliance activities including online verification, audit, inspection, investigation and collection. In addition, the program delivers key benefit programs for low-income individuals and families, including automated income-verification services and online client experience improvements to other benefit programs. The program conducts research and analysis of tax compliance; reviews tax administration programs for effectiveness, efficiencies, and opportunities to improve revenue integrity; coordinates Burden Reduction activities on behalf of the ministry; and manages the Province’s relationship with the Canada Revenue Agency.

The program provides advice on the development of policies and legislation governing the Ontario property tax system, including municipal property taxation, education property taxes and provincial land tax, establishes the policy and legislative framework for Ontario's property assessment system, and manages the Province’s relationship with the Municipal Property Assessment Corporation. It also provides strategic oversight and advice on policies that support the Province’s fiscal arrangements with municipalities and designs and delivers municipal funding programs, including the Ontario Municipal Partnership Fund, the Province's main general assistance grant to municipalities.

Vote summary

Item number Item

Estimates
2024-25 $

Estimates
2023-24 $

Difference
between
2024-25
and
2023-24 $

Actual
2022-23 $

Operating expense
1 Tax and Benefits Administration 488,184,900 553,926,800 (65,741,900) 401,478,911
5 Taxation Policy 9,695,200 9,598,000 97,200 6,957,187
6 Provincial-Local Finance 32,689,400 32,418,200 271,200 25,610,247
7 Municipal Support Programs 542,868,100 582,868,100 (40,000,000) 522,366,793
  Total operating expense to be voted 1,073,437,600 1,178,811,100 (105,373,500) 956,413,138
S Payments to Private Collection Agencies, the Financial Administration Act 5,500,000 5,500,000 - 4,972,803
S Bad Debt Expense, the Financial Administration Act 45,215,900 45,215,900 - 179,163,902
  Total statutory appropriations 50,715,900 50,715,900 - 184,136,705
  Total operating expense 1,124,153,500 1,229,527,000 (105,373,500) 1,140,549,843

Operating Assets
2 Assets 1,500,000 1,500,000 - 348,448
  Total operating assets to be voted 1,500,000 1,500,000 - 348,448
S Advances, the Education Act 18,500,000 20,300,000 (1,800,000) 18,082,523
S Advances, the Northern Services Boards Act 7,000,000 6,200,000 800,000 6,025,346
S Advances, the Local Roads Boards Act 7,200,000 6,200,000 1,000,000 6,298,481
  Total statutory appropriations 32,700,000 32,700,000 - 30,406,350
  Total operating assets 34,200,000 34,200,000 - 30,754,798

Standard account by item and sub-items

 
Vote-
item
number		 Standard account by item and sub-items Amount $ Amount $ Amount $

Operating expense
1209-1 Tax and Benefits Administration      
 

Salaries and wages

     81,319,700
 

Employee benefits

     12,334,500
 

Transportation and communication

     3,787,100
 

Services

     172,210,900
 

Supplies and equipment

     2,340,300
 

Transfer payments

      
 

Guaranteed Annual Income System

   219,833,700  
 

Tax Compliance Partnership Agreements

   170,000 220,003,700
  Subtotal     491,996,200
  Less: recoveries     3,811,300
  Total operating expense to be voted     488,184,900
  Sub-items:      
  Strategy, Stewardship and Program Policy      
 

Salaries and wages

   16,301,000  
 

Employee benefits

   2,253,000  
 

Transportation and communication

   260,000  
 

Services

   150,520,900  
 

Supplies and equipment

   137,000 169,471,900
  Tax Compliance and Benefits      
 

Salaries and wages

   65,018,700  
 

Employee benefits

   10,081,500  
 

Transportation and communication

   3,527,100  
 

Services

   21,690,000  
 

Supplies and equipment

   2,203,300  
 

Transfer payments

      
 

Guaranteed Annual Income System

 219,833,700    
 

Tax Compliance Partnership Agreements

 170,000 220,003,700  
 

Subtotal

   322,524,300  
 

Less: recoveries

   3,811,300 318,713,000
  Total operating expense to be voted     488,184,900
1209-5 Taxation Policy      
 

Salaries and wages

     7,579,700
 

Employee benefits

     1,388,000
 

Transportation and communication

     134,900
 

Services

     499,500
 

Supplies and equipment

     93,100
  Total operating expense to be voted     9,695,200
1209-6 Provincial-Local Finance      
 

Salaries and wages

     8,153,800
 

Employee benefits

     968,800
 

Transportation and communication

     181,200
 

Services

     23,270,600
 

Supplies and equipment

     115,000
  Total operating expense to be voted     32,689,400
1209-7 Municipal Support Programs      
 

Transfer payments

      
 

Ontario Municipal Partnership Fund

   501,850,000  
 

Special Payments to Municipalities

   16,693,100  
 

Temporary and other Local Assistance

   24,325,000 542,868,100
  Total operating expense to be voted     542,868,100
  Statutory appropriations      
 

Services

      
Statutory

Payments to Private Collection Agencies, the Financial Administration Act

     5,500,000
  Statutory Appropriations      
 

Other transactions

      
Statutory

Bad Debt Expense, the Financial Administration Act

     45,215,900
  Total operating expense for Tax, Benefits and Local Finance Program     1,124,153,500

Operating Assets
1209-2 Assets      
 

Advances and recoverable amounts

      
 

Guaranteed Annual Income System

     1,500,000
  Total operating assets to be voted     1,500,000
  Statutory Appropriations      
 

Advances and recoverable amounts

      
Statutory

Advances, the Education Act

     18,500,000
 

Advances and recoverable amounts

      
Statutory

Advances, the Northern Services Boards Act

     7,000,000
 

Advances and recoverable amounts

      
Statutory

Advances, the Local Roads Boards Act

     7,200,000
  Total operating assets for Tax, Benefits and Local Finance Program     34,200,000

Building Ontario Fund Program - Vote 1215

The Ontario Infrastructure Bank (proposed to be renamed the Building Ontario Fund) is a new, arms-length agency to leverage investments by public-sector pension plans and other trusted Canadian institutional investors to help fund large-scale infrastructure projects across the province.

At the outset, the projects financed through this new agency will be focused on long-term care homes, energy infrastructure, affordable housing, municipal and community infrastructure and transportation.

This program will ensure effective oversight of the Ontario Infrastructure Bank (proposed to be renamed the Building Ontario Fund).

Vote summary

Item number Item

Estimates
2024-25 $

Estimates
2023-24 $

Difference
between
2024-25
and
2023-24 $

Actual
2022-23 $

Operating expense
1 Building Ontario Fund 5,000,000 - 5,000,000 -
  Total operating expense to be voted 5,000,000 - 5,000,000 -
S Building Ontario Fund, the Building Ontario Fund Act, 2024 (proposed) 1,000 - 1,000 -
  Total statutory appropriations 1,000 - 1,000 -
  Total operating expense 5,001,000 - 5,001,000 -

Standard account by item and sub-items

Vote-
item
number		 Standard account by item and sub-items Amount $

Operating expense
1215-1 Building Ontario Fund  
 

Transfer payments

  
 

Ontario Infrastructure Investment

 5,000,000
  Total operating expense to be voted 5,000,000
  Statutory appropriations  
 

Transfer payments

  
Statutory

Building Ontario Fund, the Building Ontario Fund Act, 2024 (proposed)

 1,000
  Total operating expense for Building Ontario Fund Program 5,001,000

Treasury Program

The Treasury Program is responsible for the development, direction, operation, execution and formulation of policies for the management of the Province's debt, investments, credit ratings, investor relations, and related financial administration activities. This is accomplished by issuing and managing debt, including Green Bonds, to complete the Province’s annual borrowing program; liaising with credit rating agencies on their assessment and determination of the Province's credit rating; providing centralized financial services to the Province, including banking and cash management; providing financial reporting on the fiscal position of the Province to investors and the public; providing financial analysis and support related to the electricity sector including debt and other liabilities, and monitoring the fiscal implications; co-managing, with Ontario Power Generation, the investment activities of the Ontario Nuclear Funds; providing advice to government and broader public sector entities on financing initiatives and policies, and on any direct or indirect provincial liabilities; provision of guarantees and loans by the Province and assistance in investments to its Crown Corporations and agencies; advising Crown agencies and other public bodies on financial policies and projects and investing on behalf of some public bodies; and arranging custodial and fiscal agency services for the Province and certain agencies.

The Ontario Financing Authority also provides a broad range of financial services to Ontario Electricity Financial Corporation and Infrastructure Ontario while continuing to support the government on key strategic priorities including the building out of the Ontario Infrastructure Bank (proposed to be renamed the Building Ontario Fund).

Vote summary

Item number Item

Estimates
2024-25 $

Estimates
2023-24 $

Difference
between
2024-25
and
2023-24 $

Actual
2022-23 $

Operating expense
S Interest on Debt, the Financial Administration Act 14,228,241,000 13,764,000,000 464,241,000 12,493,990,977
  Total operating expense 14,228,241,000 13,764,000,000 464,241,000 12,493,990,977

Standard account by item and sub-items

Vote-
item
number		 Standard account by item and sub-items Amount $ Amount $

Operating expense
Statutory Statutory appropriations
Interest on Debt, the Financial Administration Act		    
 

Interest on Ontario Securities

    
 

 

For general purposes

 15,692,663,000  
 

 

Canada Pension Plan Investment Board

 301,620,000 15,994,283,000
 

Less: Interest Capitalized in Ministry Appropriations

   199,248,000
 

Less: Other interest, exchange, discount and commission

   (130,845,000)
 

Less: Interest on Investments

   2,095,644,000
      13,830,236,000
 

Interest on Debt Payable to Ontario Electricity Financial Corporation

   398,005,000
  Total operating expense for Treasury Program   14,228,241,000