Published June 16, 2025
About This Audit
An audit was conducted on the Hanover Township Police Pension Plan under the Municipal Pension Plan Funding Standard and Recovery Act of 1984. The objectives were to assess corrective actions from a previous report and ensure compliance with relevant laws and regulations. The audit examined state aid deposits, employer and employee contributions, and actuarial valuations between January 1, 2023, and December 31, 2024. The results indicated general compliance with state requirements, except for a repeated issue concerning incorrect data on Certification Form AG 385, resulting in a net underpayment of state aid. This issue was noted in earlier audits and arises from a misunderstanding of the form’s instructions due to personnel turnover. The Township has been encouraged to implement corrective actions. Township officials are thanked for their cooperation during the audit process, which promotes overall financial integrity.