Media Release: FAO releases 2022-23 Annual Report

[La version française suit le texte anglais.]


TORONTO, July 31, 2023  Today, Jeffrey Novak, the Acting Financial Accountability Officer of Ontario, released his 2022-23 Annual Report. This report summarizes the work of the Financial Accountability Office (FAO) in support of its mandate to provide 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.

In 2022-23, the FAO released 17 reports, including forecasts of Ontario’s economy and financial position, spending plan reviews of the Ministries of Education, Health and Long-Term Care, quarterly Expenditure Monitors that track in-year provincial spending and changes to program budgets, and a first-of-its kind analysis of how much Ontario families pay in taxes compared to the benefits they receive from provincial services like health care and education. The FAO also launched its first learning module – Government Finances 101 – to provide MPPs, their staff and the general public with an opportunity to learn more about the provincial budget process and basic government finance.

The FAO is proud to support MPPs in their work by providing independent, authoritative and timely information on government finances and the provincial economy. MPPs and legislative committees may request that the FAO undertake research on the financial costs or financial benefits to the Province of any public bill that is before the Assembly or any proposal that relates to a matter over which the Legislature has jurisdiction.

To learn more, read the full report here.

Quick Facts:

  • The FAO’s website drew 184,010 page views in 2022-23 and crossed a significant milestone with one million views since the organization’s launch in 2015.
  • The most popular FAO report in 2022-23, as measured by website views, was Housing and Homelessness Programs in Ontario, a report first published in March 2021.
  • The FAO’s Government Finances 101 learning module was viewed 2,356 times.
  • The FAO was mentioned in print media 6,969 times in 2022-23, up from 5,801 mentions the previous year.
  • The FAO saw continued growth in followers on social media, with year-over-year increases of 15 per cent on Twitter, 60 per cent on Instagram, 28 per cent on LinkedIn and 28 per cent on the FAO’s email subscriber list.

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 and follow us on Twitter and LinkedIn.


For further information, please contact:
Jessica Martin l 647.527.2385 l l