Capital Markets Treasury

Responsibilities

Capital Markets Treasury division provides centralized cash management services to the Province with the objective of maximizing the returns on the Province’s liquid reserves.

It also acquires cost-effective banking products and services to support government ministries’ program delivery and crown agencies’ banking activities. It liaises with service providers and oversees their activities to ensure ongoing quality service delivery.

The division also is responsible for the confirmation and settlement of all transactions undertaken in support of capital market activities. This includes accounting for all capital market transactions and IOD for the Province, OEFC and OSIFA. Oversight of the nuclear funds established under ONFA is also carried out by this division.

Results in 2003-04

Cash Management

A number of initiatives were implemented to improve the timing of the Province’s cash flows, enhance services to ministries and crown agencies and strengthen internal operations and controls.

As the treasury function for the Ontario government, the division is closely involved in the implementation of the IFIS, the initiative to develop a single enterprise-wide financial information system across the government. Originally initiated in November 2002, IFIS was implemented in all but seven government ministries as of March 31, 2004. Four ministries, including Transportation and Health & Long-Term Care, have since been converted to IFIS on April 1, 2004, and the remainder are scheduled to be converted in November, 2004.

Building on the capability of IFIS, the division has been able to streamline and update its systems in order to enhance cash forecasting and monitoring. A new forecasting system, which provides more accurate forecasts, was developed in conjunction with ministries and other agencies. The analytical tools within this system also will help the OFA give timely and useful feedback to the ministries on their cash performance.