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ARCHIVED - Office of the Superintendent of Financial Institutions
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Summary of Capital Spending by Program Activity
| Program Activity | Forecast Spending 2009-10 |
Planned Spending 2010-11 |
Planned Spending 2011-12 |
Planned Spending 2012-13 |
|---|---|---|---|---|
| Internal Services | 3.0 | 4.7 | 14.6 | 4.8 |
| Regulation and Supervision of Federally Regulated Private Pension Plans | 0.3 | 0.9 | 0.9 | … |
| Office of the Chief Actuary | 0.1 | … | … | … |
| Total | 3.4 | 5.6 | 15.5 | 4.8 |
This table outlines OSFI's planned capital investments by program activity and reflects OSFI's approved Annual Reference Level Update (ARLU) estimates, which were prepared in early summer 2009. A review and update of OSFI's IM/IT Strategy was completed in 2009-2010. The strategy includes the implementation of new IM/IT governance and portfolio management practices to ensure that IM/IT investments are balanced between lifecycle maintenance, optimization and replacement of existing technology assets, and the strategic selection and implementation of new investments. Another key component of the IM/IT strategy, rationalization of the application portfolio, will begin in 2010 in order to realize efficiencies and improve the ability for OSFI's systems to adapt to evolving business needs. At the time of writing this Report, OSFI was completing its business planning process for 2010-2011 to 2012-2013, including the budget implications of implementing the IM/IT strategy over a five-year period. Any changes as a result will be reflected in next year's Report on Plans and Priorities.
OSFI continues to develop cost-effective, secure and reliable information management systems that contain relevant, accurate and timely internal and external data, and to maintain a robust technology infrastructure necessary to support its supervisory and regulatory activities.
Technology investments planned during fiscal year 2010-2011 relate to changes in Accounting Rules and Standards and the continuation of the Pension Systems Renewal Initiative, a project that began in 2008-2009 to enhance the enabling technology for approvals and supervisory processes within the Private Pension Plans activity. The expected implementation date is in 2011-2012.
In 2011-2012, OSFI is planning an accommodation upgrade in Toronto in conjunction with the expiry of its lease. This
will allow OSFI to utilize its space more efficiently and align its accommodation standards more closely to those established
by Public Works and Government Services Canada. The decrease in 2012-2013 is largely due to the completion of the accommodation
upgrade in the preceding year.