City of Farrell Non-Uniformed Pension Plan – Mercer County – Audit Period January 1, 2023 to December 31, 2024

A compliance audit of the City of Farrell Non-Uniformed Pension Plan for the period January 1, 2023, to December 31, 2024, was conducted to ensure adherence to state laws, regulations, contracts, administrative procedures, and local ordinances. The audit followed the Municipal Pension Plan Funding Standard and Recovery Act (Act 205), emphasizing compliance with previous audit recommendations and proper fund management. Key findings included incorrect data on a certification form, failure to meet municipal obligations, improper state aid handling, and several other compliance failures. City officials hadn’t corrected previously reported issues, risking the withholding of state aid. The plan’s compliance with the Pennsylvania Municipal Retirement System was not part of this audit. The Auditor General urged timely action on highlighted recommendations to avoid potential state aid withholdings. This summary outlines the crucial need for City of Farrell to address noted discrepancies promptly. This is an automated summary. Please rely on the contents included in the released audit report.