City nets record revenue with higher car-parking fees
A jump in car-parking fees and goods wharfage in 2025 drove record Corporation of Hamilton revenues and helped the municipality to turn a profit after losing money a year earlier.
The City government also reduced its administrative and general expenses by $1.9 million owing to significantly lower legal costs after the resolution of litigation over the failed Par-la-Ville hotel project.
The corporation generated total revenue of $28.2 million in 2025, up from $27.2 million in 2024, representing the highest annual revenue in its history.
Total expenditures decreased from $28 million in 2024 to $27.1 million in 2025. Combined, these results produced an operating surplus of $1.1 million.
Revenue growth was driven by several key areas.
Goods wharfage increased to $8.67 million, car-parking fees generated a record $5.64 million, with strong utilisation of City parking facilities, especially Bull's Head and Par-la-Ville, combined with continued parking enforcement contributing to the increase.
Additional revenue increases included dock charges, which rose to $410,000, other permit and licence fees, which increased to $579,000, and property rental income, which climbed to $1.12 million.
While miscellaneous income, ship wharfage, City Hall rental income and interest income declined during the year, overall revenue continued its upward trajectory.
Expenditure reductions also contributed to the corporation's improved financial position.
Administrative and general expenses decreased by approximately $1.9 million to $8.35 million, primarily owing to significantly lower legal costs after the resolution of two longstanding legal matters.
The corporation's litigation with Mexico Infrastructure Finance LLC was settled in October 2024, while the Privy Council issued its decision on the corporation's constitutional challenge relating to municipal reform in October 2025. The conclusion of these matters substantially reduced legal expenditures during 2025.
Interest and finance charges increased by approximately $772,000 to $1.01 million, primarily as a result of financing costs associated with the $8.75 million Clarien Bank loan secured in March 2025 to fund the MIF settlement.
Continuing maintenance and repairs to the vehicle fleet was reflected in works depot expenses, which increased by approximately $211,000 to $3.41 million.
Additionally, City Hall maintenance increased by approximately $196,000 to $1.27 million.
Tanya Iris, the City’s chief financial officer, said: “These results reflect the corporation's continued focus on responsible financial management.
“Achieving record revenues while reducing overall expenditure and once again receiving an unqualified audit opinion demonstrates the strength of our financial stewardship and ensures we remain well positioned to support the services and infrastructure that Hamilton relies on.”
Overall, the corporation improved its operating results by approximately $1.9 million, moving from an operating deficit of $790,000 in 2024 to an operating surplus of $1.1 million in 2025.
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