Financial Accountability Officer of Ontario (FAO) Releases 2018-2019 Annual Report


TORONTO, July 30, 2019 – Today, Peter Weltman, Ontario’s Financial Accountability Officer (FAO), submitted his 2018-2019 annual report to the Speaker of the Legislative Assembly.

The FAO’s 2018-19 annual report summarizes the FAO’s activities during his first year in office to support all MPPs of the Legislative Assembly.

Key reports include the FAO’s first review of the annual Expenditure Estimates, a report on the fiscal impact of the cancellation of the Cap and Trade program, a retrospective on household incomes in Ontario, as well as a spring Budget Outlook prior to the provincial election and a fall Budget Outlook that provided a baseline fiscal outlook in the absence of one from the government. The FAO also released several commentaries, including an updated comparison of Ontario’s fiscal position with other provinces. In 2018-19, the FAO published a total of 15 reports, two more than the previous year.

The report highlights the FAO’s commitment to inform, educate and engage MPPs with independent value-added economic and financial analysis. In 2018-19, the FAO significantly increased its engagement with MPPs. Going forward, the FAO plans to continue extending the reach of the office’s work through the development of new innovative channels for members to access the office’s research.

Click here to read the report.

About the FAO

Under the Financial Accountability Officer Act, 2013, the Officer provides independent analysis on the state of the Province's finances, trends in the provincial economy and related matters important to the Legislative Assembly of Ontario. Visit our website at and follow us on Twitter at


For further information, please contact:
Victoria Coste | 647-519-5161 | |