[RIJIMMY]

I found the source of the water in my bilge, thanks to advice and guidance from Zacs.

The fitting that the drain plug in the transom screws into is leaking. Water is seeping around the screws and bottom of the fitting. I pulled it out and looks like the caulk has deteriorated. The fitting looks in good shape.
Im thinking all I need to do is put a bead of silicone caulk around the fitting and screws and put it back in.
Is it that simple? I cant see what else there would be to repair and the silicone should create the bond/gasket and seal out the water.
Any advice is GREATLY appreciated.....