Financial Accountability Officer of Ontario (FAO) Releases 2017-2018 Annual Report


TORONTO, July 24, 2018 - Peter Weltman, Ontario’s Financial Accountability Officer, today submitted his 2017-2018 annual report to the Speaker of the Legislative Assembly.

The report summarizes the FAO’s activities in support of all members of the Legislative Assembly undertaken during the 2017-2018 fiscal year. 

In 2017-2018, the FAO released seven reports. Among them were the office’s biannual medium-term Economic and Budget Outlook, and its biennial Long-Term Budget Outlook, as well as a more detailed analysis of medium-term health spending trends. At the request of MPPs, the FAO also released three reports examining aspects of Ontario electricity policy, including an updated analysis of the partial sale of Hydro One and analyses of the province’s Fair Hydro Plan and the refurbishment of the province’s nuclear reactors. The FAO also released several commentaries, including an analysis of the economic impact of increasing the minimum wage. 

The FAO's report also describes the Financial Accountability Officer’s plans for his five-year term, which began in early May 2018. In the future, the FAO plans to undertake more detailed analysis of trends in other major areas of public spending, including education and social services. The FAO also plans to consult MPPs on additional products that they might find useful in support of their work.

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 or to arrange interviews, please contact:

Kismet Baun l (416) 254-9232 l l