Economy Borough Non-Uniformed Pension Plan – Beaver County – Reduced Period Engagement – Period Ended December 31, 2025

A compliance audit was performed on Economy Borough’s Non-Uniformed Pension Plan to assess adherence to relevant state laws and guidelines, particularly under Act 205. The audit covered the period from January 1, 2025, to December 31, 2025, focusing on proper deposit and management of state aid and proper calculation and disbursal of retirement benefits. The audit found the pension plan compliant with all major requirements, except for how contracted professional services were awarded, which did not align with Act 205’s provisions. The borough changed its investment service providers in 2023 without proper evidence of compliance with Act 205 or its Resolution No. 445. To rectify this, it’s recommended that the borough adhere strictly to procedures for procuring professional services, ensuring full transparency. This is an automated summary. Please rely on the contents included in the released audit report.