Brady Township Non-Uniformed Pension Plan – Clearfield County – Audit Period January 1, 2021 to December 31, 2024

The compliance audit of the Brady Township Non-Uniformed Pension Plan, covering January 1, 2021 to December 31, 2024, found several issues related to compliance with state laws and regulations. The audit aimed to verify corrective actions on previous findings and ensure the pension plan’s administration adhered to pertinent legislation and local policies. Despite cooperation from township officials, the audit revealed partial compliance with previous recommendations, including receipt of state aid in excess of entitlement and late filing of actuarial reports. Additionally, there were issues with the distribution from allocated insurance contracts and failure to fund member accounts. The audit noted serious concerns regarding these recurring issues and stressed the importance of addressing these findings promptly. While the plan met most requirements, the findings highlight the need for timely and effective internal controls to ensure full compliance in managing the pension plan. This is an automated summary. Please rely on the contents included in the released audit report.