Towanda Borough Police Pension Plan – Bradford County – Reduced Period Engagement – Period Ended December 31, 2025

A compliance audit of the Towanda Borough Police Pension Plan, conducted under the Municipal Pension Plan Funding Standard and Recovery Act, assessed the plan’s administration from January 1, 2025, to December 31, 2025. The audit aimed to verify compliance with applicable state laws, regulations, and local ordinances, focusing on correct state aid deposits, employer and employee contributions, proper disbursement of retirement benefits, and preparation of actuarial valuation reports. The results indicated compliance in all significant respects. Additionally, supplementary information highlights the pension plan’s funding progress and contribution schedules, showing improvement in the actuarial funded ratio from 84.8% in 2021 to 99.1% in 2025. The audit concludes that Towanda Borough officials effectively maintained internal controls, ensuring compliance with legal standards. This is an automated summary. Please rely on the contents included in the released audit report.