City Council approves agreement with BakerTilly, BakerTilly 4th Qtr. Report looks positive

Monday evening, the Plymouth Common Council approved the engagement agreement with BakerTilly for services in 2026.  The agreement increased from $9,700 monthly to $11,100, with the Financial Board and Utilities each paying $4,000 monthly, and the Redevelopment Commission TIF Districts splitting the $3,100 monthly cost between them.

Mayor Listenberger said the city added a few services from the 2025 agreement.  The representative from BakerTilly said the Continuing Disclosure, which is required for open-market bonds, states that the utilities have historically been billed separately, but is built into the new agreement.  The second increase is for SCA 1, and the parcel-by-parcel property tax analysis, which allows BakerTilly and the city to get the best understanding of the property tax impacts related to the new legislation at the state level. A database has been built to get a better understanding of what the property tax impacts will be for the taxpayers of the city, as it directly impacts the city’s revenue.   

Councilman Dave Morrow commented, “I see great value in the information we receive from BakerTilly.” 

The City Council unanimously approved the 2026 agreement with BakerTilly.

The Fourth Quarter Financial Report was also presented at the meeting, although it wasn’t reviewed by the council.

The report, which covers October, November, and December 2025, showed the city experienced increases in fund balances during the fourth quarter of 2025, driven primarily by the receipt of the year’s final property tax distribution. Key developments during the period included the completion of two additional Greenway Trail segments, which now provide a total of five miles of interconnected trails; a rain garden installation with the detention basin located on West Garro Street; and the construction of the airport’s parallel taxiway and the additional snow removal equipment for the airport.

The report indicates that cash balances in the core funds (General, MVH, LRS, Park, Cemetery, Aviation, and CCD) increased by approximately 11% from September 2025 to December 2025.  This significant increase is largely attributed to the December property tax distribution.  Fund balances overall are 4% lower than year-end 2024, primarily due to increases in personnel costs, services, and charges.   

The BakerTilly Report shows that 87% of the budgeted distributions in the core funds were spent in 2025.

The core fund revenue analysis shows where the money comes from, with $7.9 million from property taxes, $4.2 million received from charges for services, licenses, permits, and other receipts. $4.7 million comes from the local income tax, and $1.2 million includes intergovernmental revenues from auto exercise, Motor Vehicle Highway distributions, alcohol and cigarette tax, and others.            

The report states, “The December property tax distribution played a key role in strengthening cash flow and ensuring the City closed the year with solid revenue levels.  Overall, core revenues for 2025 were approximately 3% higher than those reported in 2024, reflecting continued growth in the City’s revenues.”