12/09/2014 05:38 EST | Updated 02/08/2015 05:59 EST

Auditor general's annual report coming later today

Ontario's auditor general is releasing her annual report on Tuesday afternoon, which will include a look at a loan the governing Liberals gave to a research complex in downtown Toronto.

Auditor General Bonnie Lysyk will hold a news conference at 3 p.m. ET to discuss whether taxpayers are getting value for money on a wide range of government programs.

Among the topics the auditor general has been investigating is the loan offered to the MaRS office tower on College Street.

The building sits mostly empty and taxpayers are fronting the interest payments on the loan.

Lysyk is probing whether the provincial government properly considered the risks when it made the loan.

The auditor general will also be reporting on the so-called smart meters that have cost about $1 billion to install in most Ontario homes. Lysyk is probing if this was done cost-effectively.

The Liberals have arranged for their energy and infrastructure ministers to respond to Lysyk's report after it is released in the afternoon.

Lysyk has served as Ontario's auditor general since September of last year. She moved from Saskatchewan where she served in the same role.