Ontario Financing Authority

Ministry

Finance

URL

www.ofina.on.ca

Address

12TH FLOOR, 1 DUNDAS STREET WEST
TORONTO
M7A1Y7

Phone

(416) 325-8000

Fax

N/A

Background

Capital Investment Plan Act, 1993 (Parts I and II) (opens a new window)

Function

The Ontario Financing Authority: conducts borrowing, investment and financial risk management for the Province of Ontario; manages the Provincial debt; provides centralized financial services for the Province including banking and cash management; advises ministries, Crown agencies and other public bodies on financial policies and projects; assists Crown agencies and other public bodies to borrow and invest money; acts at the direction of the Province in lending to certain public bodies; invests on behalf of some public bodies; and provides such other financial services as are considered advantageous to the Province or any public body.

Membership

The Authority's Board of Directors is composed of a chair and at least four and not more than twelve other directors. The Deputy Minister is, by virtue of office, chair. The other directors are appointed by the Lieutenant Governor in Council, who also appoints one or more vice-chairs from among the directors.

Term

A member of the Board of Directors holds office for a term not exceeding three years and may be reappointed for successive terms not exceeding three years each.

Meetings

The board of directors meets at least quarterly.

Remuneration

Appointees to the Ontario Financing Authority are remunerated on a per diem basis as follows: Vice-Chair: $550; Member: $500. Appointees to the Ontario Financing Authority who are members of the Ontario Public Service do not receive remuneration.

 

Appointments & Vacancies