City Finances

The City of Hamilton’s financial management includes planning, directing, monitoring, organizing, and controlling financial resources in an efficient and effective manner.

The City of Hamilton’s Finance team also ensures that the City’s finances are managed in accordance with legislative and contractual requirements, and provides advice to Council, Committee and management.

Key financial objectives for the City of Hamilton include:

  • Maintain a ‘AA’ Credit Rating
  • Grow the non-residential property assessment base and maintain competitive residential property taxes (compared to other Ontario municipalities)
  • Maintain competitive water, wastewater and stormwater residential rates (compared to other Ontario municipalities)
  • Management of debt
  • Management of discretionary reserves and obligatory reserve funds
  • Maintain infrastructure assets to Council-directed service levels
  • Management of liabilities 

We align with the City's Strategic Priorities:

Our People & Performance

Strong financial management demonstrated by fiscal prudence, long-term financial plans, regular annual operating expenditure and revenue forecasts and policies for investments, debt and risk management provide Hamiltonians with a high level of trust and confidence in their City government.  

Economic Prosperity & Growth

Strong financial management practices together with economic development decisions will facilitate a prosperous and diverse local economy where people have opportunities to grow and develop.  For example, future infrastructure can be built and existing assets can be  maintained with financing that is obtained at lower rates due to our strong credit rating and debt management policies.

Credit & Debt Ratings

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AA+ (stable)

Credit and debt ratings are issued by a Credit Rating Agency to assess the financial commitments and credit viability of a prospective debtor.

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Non-Residential Assessment %

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12.2%

Non-residential assessment % indicates the percentage of property tax assessment that is derived from the commercial and industrial property tax classes. 

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City Debt
 

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$356M

City debt can be an important financing source to fund capital infrastructure investments, such as road reconstruction, bridge rehabilitation or recreation centre reconstruction. 

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Total City Reserves

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$797M

Reserves and reserve funds are established by City Council to assist with long term financial stability and financial planning.

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