Published June 3, 2025
About This Audit
A compliance audit was conducted on the Platea Borough Firemen’s Relief Association of Pennsylvania for the period from January 1, 2022, to December 31, 2024. The audit aimed to ensure the association’s adherence to state laws, contracts, bylaws, and administrative procedures related to state aid and fund expenditures. Overall, the association complied with relevant regulations, except for a notable issue: insufficient Surety (Fidelity) bond coverage to protect cash assets. The bond coverage was only $30,000, inadequate against $44,249 in cash assets as of December 31, 2024. Upon addressing this finding, the association increased bond coverage to $50,000 as of January 28, 2025. This adjustment meets the requirements of the VFRA Act and should prevent similar discrepancies in the future. Regular monitoring of cash balances was recommended to ensure consistent compliance.