City Budget Lists A $1.5-million One-Time Expense as Part of HSR Strike Deal – TPR Hamilton | Hamilton's Civic Affairs News Site

January 13, 2024
The deal that ended the one-week HSR strike in November was the same as the “Final Offer” HSR workers rejected and went on strike against – with one exemption.
HSR employees were given a one-time $1000 addition to their annual healthcare spending account for use in 2024.
A note in Appendix E of the City’s 2024 budget states the City is using reserve funds to “phase-in employer benefit impacts with excess surplus funding in reserve ($1.5M for ATU CBA in 2024).”
The City’s 2024 budget will increase spending by over 14 percent.
City staff are recommending draining the City’s reserve accounts and increasing the City’s debt per capita by 21.1 percent to lower this year’s tax increase to a more politically marketable 7.9 percent.
Nearly 7 percent of the City’s budget will be funded by draining reserves or adding debt to the City’s books. That 7 percent will be added to next year’s projected 7 percent increase.