Accounting spat leads to differing Ontario deficit figures - News Summed Up

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Accounting spat leads to differing Ontario deficit figures


Auditor General Bonnie Lysyk no longer believes the government should include on its bottom line its share of assets from the teachers’ and public servants’ pension funds that it co-sponsors. ( Nathan Denette / THE CANADIAN PRESS )Depending on whom you believe, Ontario’s deficit last year was either $3.5 billion or $5 billion. And the province’s net debt was either $294.5 billion or $305.2 billion. That’s because she no longer believes the government should include on its bottom line its share of assets from the teachers’ and public servants’ pension funds that it co-sponsors. Article Continued BelowAgainst the backdrop of the accounting dispute, Sousa and Sandals on Monday released an unaudited version of the province’s public accounts for the fiscal year that ended March 31.


Source: thestar October 03, 2016 21:55 UTC



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