The FAO produces regular reports analyzing the state of the Province's finances, trends in the provincial economy and estimates of the financial impact of bills or other proposals over which the Legislature has jurisdiction.
This report provides an update, as of the end of the second quarter (September 30, 2019), of spending by the Province for the 2019-20 fiscal year by budget sector, ministry, standard account and program. In addition, the report identifies in-year changes made to the initial 2019-20 government spending plan by program.
This report provides an assessment of the Ministry of Transportation’s 2019-20 Expenditure Estimates to support the Standing Committee on Estimates in its annual review of Ministries’ Expenditure Estimates
This report reviews the Province’s commitment to create 15,000 new long-term care beds. The report explains how long-term care is funded by the Province, estimates the cost of the long-term care bed expansion commitment, projects changes to the long-term care wait list and wait times, and discusses the potential impact on “hallway health care.”
This publication provides an update on Ontario’s credit rating. This update summarizes the opinions of the four major international credit rating agencies, based on their assessment of Ontario’s debt. These credit ratings represent the agencies’ opinions on the ability of Ontario to meet its debt-related financial obligations.
This commentary examines Ontario’s 2018-19 budget deficit.
This commentary assesses the impact of an economic downturn on the government’s budget plan.
FAO backgrounders provide primarily descriptive information on issues of interest to Members of Provincial Parliament. Backgrounders are based on information that the FAO has received from the Province.
This backgrounder includes a list of 2017-18 service fee rate changes, a discussion of the growth rate of service fee revenue, and a review of the cost recovery ratios for a selection of service fee categories.
Ontario’s debt is rated by four principal international credit rating agencies, which typically publish an annual update of their view of the province’s finances and the quality of Ontario’s debt.
Following the tabling of Ontario’s 2016 Budget, each of the four rating agencies affirmed their current rating of Ontario’s debt, indicating that they believe the province has taken adequate steps on both revenues and expenditures to achieve its plan to restore fiscal balance by 2017-18.
However, if Ontario’s fiscal position deteriorates beyond 2017-18, either through an easing of expenditure restraint or unexpected revenue weakness, the agencies could be expected to lower Ontario’s credit rating, which could lead to higher borrowing costs and a more challenging fiscal position.
The Province forecasts that it will collect $2.74 billion in service fee revenue in 2016-17. This backgrounder provides a partial list of changes to Provincial service fee rates planned for 2016-17 and includes a discussion of the growth rate of service fee revenue. Service fee revenue has increased by an average of 6.8% a year since 2011-12, largely due to the increase in revenue from vehicle and driver registration fees.