Clearfield Borough Non-Uniformed Pension Plan – Clearfield County – Reduced Period Engagement – Period Ended December 31, 2024

A compliance audit was conducted for the Clearfield Borough Non-Uniformed Pension Plan in Pennsylvania under Act 205 requirements. The audit aimed to determine if municipal officials have addressed previous findings and whether the pension plan complied with state laws and regulations. The audit spanned from January 1, 2023, to December 31, 2024, inspecting state aid and employer contributions, employee contributions, retirement benefits, and compliance with actuarial reporting. While the plan largely met compliance standards, an issue arose with incorrect data leading to a $4,924 overpayment of state aid due to misreported employee status. The report addressed this with Clearfield Borough officials, who acknowledged the turnover and oversight. Overall, the audit revealed mismanagement in past state aid reporting but found that most requirements were met satisfactorily. This is an automated summary. Please rely on the contents included in the released audit report.