Published May 20, 2025
About This Audit
A compliance audit of the Carroll Township Non-Uniformed Pension Plan was conducted per the Municipal Pension Plan Funding Standard and Recovery Act, assessing compliance from January to December 2024. The audit aimed to ensure plan administration adhered to relevant state laws, regulations, contracts, and policies. The methodology included verifying state aid deposit timelines, employer contribution calculations, absence of employee contribution requirements, and review of the actuarial valuation report submitted by March 2024. It also checked compliance of the pension plan’s unallocated insurance contracts with plan provisions and regulations. Carroll Township’s financial statements were audited separately by an independent firm. The audit found the pension plan administered in compliance with all applicable requirements. Township officials are responsible for maintaining effective internal controls for the plan’s compliance. The plan’s funding status and economic soundness were also assessed based on actuarial reports and contribution records. The audit report was discussed with township officials, who facilitated the process.