On the cfl.ca website it was announced that the Hamilton Tiger-Cats were the only team to exceed the $5,000,000 salary cap in 2014 by $8,939. That's a pretty small amount over the cap on a percentage basis and as the amount was less than $100,000 the only consequence was a fine of $8,939; no loss of draft picks occurred.
One thing we do know, the Cats at least spent up to the cap. I would be curious to see what the Argos spent, although with Ricky Ray's high salary maybe they did come close to the cap.
The Cats had a fair number of injuries last year although that was true in 2013 and they also went to the Grey Cup without going over.
The interesting thing about no draft picks being lost for going over by less than $100,000 is that an aggressive owner could go over by $99,999 with nothing else happening but a $99,999 fine. If that made a was enough to get the team to the Grey Cup, it could be worth it for the team in terms of increased revenue.
With the Cats being so close to the cap this year, obviously they will be in tough to keep to it this year. Next year's Ticat number could be interesting.