Published August 21, 2025
About This Audit
The compliance audit of the Albion Borough Non-Uniformed Defined Contribution Pension Plan covers the period from January 1, 2023, to December 31, 2024. It was conducted under the Municipal Pension Plan Funding Standard and Recovery Act to ensure compliance with state laws and regulations. The audit aimed to verify the appropriate handling of state aid, employer, and employee contributions and ensure compliance with legal and regulatory requirements. The primary finding indicated that municipal contributions exceeded those required to fund the plan, resulting in an unallocated reserve fund. It is recommended that excess contributions and interest earned be transferred back to the borough’s general fund. The audit confirmed overall compliance with relevant requirements, and the borough officials and the Auditor General expressed satisfaction with the cooperation received during the audit process. Compliance improvements will continue to be monitored in future audits. This is an automated summary. Please rely on the contents included in the released audit report.