Published March 11, 2026
About This Audit
The compliance audit of the Castanea Township Non-Uniformed Pension Plan, covering January 1, 2021, to December 31, 2024, was conducted to assess adherence to state regulations and local policies. The audit, mandated by the Municipal Pension Plan Funding Standard and Recovery Act, aimed to verify the proper administration of state aid and employer contributions, compliance with actuarial reporting requirements, and the accuracy of valuation reports. It found that the pension plan complied significantly with all applicable laws and regulations and confirmed no employee contributions or benefit calculations were required during the audit period. Additionally, it highlighted the plan’s funding status showing a strong funded ratio over the evaluated years, ensuring stable financial health. The audit underscores that Castanea Township’s internal controls are effective in adhering to regulatory standards for pension plan management. This is an automated summary. Please rely on the contents included in the released audit report.