Milford Borough Police Pension Plan – Pike County – Reduced Period Engagement – Period Ended December 31, 2025

A compliance audit of the Milford Borough Police Pension Plan was conducted for the year 2025, as mandated by Pennsylvania’s Act 205. The audit aimed to ensure compliance with applicable state laws, regulations, administrative procedures, and local policies. Key areas assessed included the proper deposit of state aid, employer contributions, actuarial valuations, and the terms of any insurance contracts. The audit confirmed that Milford Borough Police Pension Plan administration adhered to all relevant requirements. The plan, governed by Ordinance No. 500 and collective bargaining agreements, was compliant in terms of actuarial valuations and asset funding progress. No employee contributions were needed as they were waived, and no new benefit calculations were required. The borough’s officials displayed effective internal controls and cooperation during the audit process. The report also highlights historical funding progress, noting an improved funded ratio from previous years. Overall, the audit found the police pension plan to be well-managed. This is an automated summary. Please rely on the contents included in the released audit report.