Ford City Borough Non-Uniformed Cash Balance Pension Plan – Armstrong County – Audit Period January 1, 2021 to December 31, 2024

The compliance audit of the Ford City Borough Non-Uniformed Cash Balance Pension Plan, covering January 1, 2021 to December 31, 2024, assessed adherence to state laws, regulations, and local policies. Conducted as per the Municipal Pension Plan Funding Standard and Recovery Act, the audit focused on state aid allocation, employer and employee contributions, and compliance with actuarial reporting requirements. The audit found that the plan was largely compliant, but identified two issues: incorrect data on Certification Form AG 385 led to a net overpayment of state aid, and state aid and municipal contributions exceeded required amounts. These findings were discussed with Ford City Borough officials, whose cooperation was acknowledged. The plan is administered in concert with the Pennsylvania Municipal Retirement System, although this audit did not evaluate the system’s financial statements directly. The Ford City Borough officials are responsible for ensuring that this pension plan is managed according to relevant laws and standards. This is an automated summary. Please rely on the contents included in the released audit report.