Earlier today Mayor Horwath issued Direction to City of Hamilton Staff to present the 2025 Rate and Tax Supported Budgets for consideration that recognizes the economic challenges residents are currently facing.
This is imperative, particularly with the rising cost of living and the ongoing affordability crisis Hamiltonians are experiencing.
The Direction notes, this should be achieved through new and expanded revenue streams, and the prudent utilization of debt and reserves, as well as pursuing both provincial and federal investments. Also being mindful to protect the city’s AAA credit rating to ensure long-term financial stability as was successfully achieved in the 2024 Budget. This builds on the city’s continued commitment to managing tax dollars responsibly and to sustainably deliver high-quality affordable services.
Ensuring the advancement of council-identified priorities, staff have been asked to demonstrate to Council that they have conducted a thorough review of core maintenance budget submissions. This includes clearly identifying and articulating all redundancies and inefficiencies that will be addressed. Additionally, that any new investment requests (business cases) by city departments, boards and agencies must clearly demonstrate their capacity to advance council-identified priorities.
“I am committed to working collaboratively with Council to finalize the 2025 budgets, ensuring an accountable and transparent process that maximizes the effectiveness of our city resources while addressing the economic hardships faced by our residents.” said Mayor Andrea Horwath, “I would like to thank Councillor Maureen Wilson for stepping into the role of Chair, and Councillor John Paul Danko as Vice-Chair of the General Issues Committee (Budget) for the 2025 Budget.
Together with City of Hamilton Staff, we will implement measurable initiatives that prioritize exceptional customer service that directly serve the people of Hamilton. This approach will help foster a community built on trust, tangible results, and a commitment to accountability, all while ensuring fiscal prudence.”
The City of Hamilton has expanded the 2025 budget engagement process and will be launching a dedicated webpage that will provide essential information and feature key components, including an interactive budget tool to engage Hamiltonians and help them to identify their priorities during the budget process.