Renovo Borough Non-Uniformed Pension Plan – Clinton County – Audit Period January 1, 2021 to December 31, 2024

The compliance audit of the Renovo Borough Non-Uniformed Pension Plan for the period from January 1, 2021, to December 31, 2024, was conducted to ensure the plan’s administration complied with applicable state laws, regulations, and policies. Pursuant to the Municipal Pension Plan Funding Standard and Recovery Act, the audit verified proper determination and timely deposit of state aid and employer contributions and checked for compliance with established retirement benefit calculations and disbursements. This audit included recalculating retirement benefits and ensuring the accuracy of actuarial valuation reports. The results indicated substantial compliance with legal and regulatory requirements. The report, discussed with borough officials, received their cooperation, and while financial statements prepared by an independent accounting firm were available, they were not audited in this report. Renovo Borough officials are responsible for maintaining effective internal controls. The plan, established in 1997, is a single-employer defined contribution plan, requiring no employee contributions. This is an automated summary. Please rely on the contents included in the released audit report.