The City of Plymouth prepares a biennial budget. The two-year budget strengthens forecasts and streamlines the budget development process. Because Minnesota law requires cities to adopt a budget annually, the City Council adopts the first year of the budget and approves the second-year budget in concept. This cycle assists in long-term planning while allowing the City Council to adjust the second year’s budget for mandates, unanticipated events or significant changes in the economy.
The City Council holds special budget study sessions throughout the year, and approves the final budget in early December. All budget meetings are open to the public. The City Council also holds a public hearing to receive public comment at a regular council meeting in December. View the Dec. 11, 2018 budget presentation (PDF).
Capital Improvement Plan
The Capital Improvement Plan is a five-year projection of the capital replacement costs and additional capital needs. It does not give authority to spend, but assists with the preparation of the biennial budget by detailing upcoming capital expenditures by funding source.
|2019 - 2023 CIP (PDF)|
|2018 - 2022 CIP (PDF)
|2017 - 2021 CIP (PDF)
|2016 - 2020 CIP (PDF)|
|2015 - 2019 CIP (PDF)|
|2014 - 2018 CIP (PDF)|
|2013 - 2017 CIP (PDF)|
|2012 - 2016 CIP (PDF)|
|2011 - 2015 CIP (PDF)|
Comprehensive Annual Financial Report (CAFR)
The CAFR provides the City Council, staff, residents and other interested parties with detailed information on the city’s financial status and practices. Detailed financial information for the city’s Housing and Redevelopment Authority (HRA) is also included in the report.
|2017 CAFR (PDF)
|2016 CAFR (PDF)|
|2015 CAFR (PDF)|
|2014 CAFR (PDF)|
|2013 CAFR (PDF)|
|2012 CAFR (PDF)|
|2011 CAFR (PDF)||2011 Management Report (PDF)
2011 Special Purpose Audit Reports (PDF)
|2010 CAFR (PDF)|
|2009 CAFR (PDF)|
Utility Rate Study
The City of Plymouth provides several core services, including water and sewer service. Each year, city staff evaluates the rates that residents and commercial properties pay to keep the city’s utility system operating. The findings can be viewed in the Water, Sanitary Sewer, Water Resources and Solid Waste Management Utility Rate Study.
|2018 Utility Rate Study (PDF)|
|2018 Utility Trunk Fund Study (PDF)|
Debt is an important and flexible revenue source available to the city. Debt is a mechanism which allows capital improvements to proceed when needed, in advance of when it would otherwise be possible. It can reduce long-term costs due to inflation, prevent lost opportunities, and equalize the costs of improvements to present and future constituencies.
The Debt Study should not be treated as an isolated undertaking, but rather part of the overall financial management strategy. By using this Study as a tool in conjunction with the annual budget, capital improvement program, and 10-year financial plan, financial decisions can be made now on how future improvements will be financed; with cash, debt or a combination. View the Dec. 11, 2018 debt study presentation (PDF).
|2018 Debt Study (PDF)|
|2016 Debt Study (PDF)|